Written by ForexBrokers.com
Is eToro better than OANDA? In our analysis of 23 international regulators across 62 of the best forex brokers, eToro is considered Highly Trusted, with an overall Trust Score of 90 out of 99. OANDA is considered Highly Trusted, with an overall Trust Score of 93 out of 99. Learn more about Trust Score.
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0 of 5| Overall Rating | eToro | OANDA | |
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| Trust Score | 90 | 93 | |
| Winner | check_circle | ||
| Review | eToro Review | OANDA Review |
| Broker Screenshots | eToro | OANDA | |
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| Trading Platforms Gallery (click to expand) | |||
| Mobile Trading Gallery (click to expand) | |||
| Research Gallery (click to expand) | |||
| Education Gallery (click to expand) |
| Regulation | eToro | OANDA | |
|---|---|---|---|
| Trust Score | 90 | 93 | |
| Year Founded | 2007 | 1996 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| European Union Authorised (MiFID) | Yes | Yes | |
| Tier-1 Licenses | 3 | 7 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | eToro | OANDA | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | Yes | |
| Singapore (MAS Authorised) | No | Yes | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | Yes | |
| New Zealand (FMA Authorised) | No | No | |
| European Union Authorised (MiFID) | Yes | Yes |
| Tier-2 Licenses (Trusted) | eToro | OANDA | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | eToro | OANDA | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3479 | 124 | |
| Forex Pairs (Total) | 52 | 71 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | Yes | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | eToro | OANDA | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1 | 1.26 | |
| All-in Cost EUR/USD - Active | N/A | 1.26 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | eToro | OANDA | |
|---|---|---|---|
| Minimum Deposit | $10-$10,000 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
| Trading Platforms | eToro | OANDA | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | eToro | OANDA | |
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| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 6 | |
| Charting - Indicators / Studies (Total) | 104 | 81 | |
| Charting - Drawing Tools (Total) | 161 | 431 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | eToro | OANDA | |
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| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 104 | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Forex Calendar | No | Yes |
| Research | eToro | OANDA | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | eToro | OANDA | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | eToro | OANDA | |
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| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | eToro Review | OANDA Review |
| Overall | eToro | OANDA | |
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| Trust Score | 90 | 93 | |
| Winner | check_circle | ||
| Review | eToro Review | OANDA Review |
Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare eToro vs OANDA.
Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, eToro offers better pricing overall for traders.
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. OANDA holds 7 global Tier-1 licenses, while eToro holds 3. Both eToro and OANDA hold 0 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, OANDA (93) earned a higher Trust Score than eToro (90).
To compare the trading platforms of both eToro and OANDA, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, eToro offers a better experience. With research, OANDA offers superior market research. Finally, we found OANDA to provide better mobile trading apps.
For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Neither broker offers Meta Trader.eToro and OANDA both offer copy trading.
OANDA provides traders 71 currency pairs (e.g., EUR/USD) compared to eToro's 52 available pairs. Forex pairs aside, eToro offers traders access to 3479 CFDs while OANDA has 124 available CFDs, a difference of 3355.
eToro is not publicly traded and does not operate a bank. eToro is authorised by three Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and one Tier-4 regulator (High Risk). eToro is authorised by the following Tier-1 regulators: Australian Securities & Exchange Commission (ASIC), Financial Conduct Authority (FCA), and the European Union via MiFID.
OANDA is not publicly traded and does not operate a bank. OANDA is authorised by seven Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and one Tier-4 regulators (High Risk). OANDA is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Investment Industry Regulatory Organization of Canada (IIROC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Financial Conduct Authority (FCA), and the Commodity Futures Trading Commission (CFTC), and the European Union via MiFID.
eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors – or receive exclusive perks for sharing their own trading strategies.
A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.
Overall winner: eToro
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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