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eToro vs OANDA 2024

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Written by ForexBrokers.com

August 29, 2023

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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Compare

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Overall Rating eToro OANDA
Overall Rating info 4.5/5 Stars 4.5/5 Stars
Commissions & Fees 4.5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 4.5/5 Stars 4/5 Stars
Mobile Trading 4.5/5 Stars 4.5/5 Stars
Research 4.5/5 Stars 5/5 Stars
Education 4.5/5 Stars 4/5 Stars
Trust Score info 90 93
Winner check_circle
Review eToro Review OANDA Review
Broker Screenshots eToro OANDA
Trading Platforms Gallery (click to expand) info
Mobile Trading Gallery (click to expand) info
Research Gallery (click to expand) info
Education Gallery (click to expand) info
Regulation eToro OANDA
Trust Score info 90 93
Year Founded info 2007 1996
Publicly Traded (Listed) info No No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-1 Licenses info 3 7
Tier-2 Licenses info 0 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 1 1
Tier-1 Licenses (Highly Trusted) eToro OANDA
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info No Yes
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No Yes
Singapore (MAS Authorised) info No Yes
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
USA (CFTC Authorized) info No Yes
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-2 Licenses (Trusted) eToro OANDA
Kenya (CMA Authorised) info No No
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA/Central Bank Authorised) info No No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
Investments eToro OANDA
Forex Trading (Spot or CFDs) info Yes Yes info
Tradeable Symbols (Total) info 3479 1744 info
Forex Pairs (Total) info 52 71
U.S. Stock Trading (Non CFD) info Yes No
Int'l Stock Trading (Non CFD) info Yes No
Social Trading / Copy Trading info Yes Yes info
Cryptocurrency (Physical) info Yes Yes
Cryptocurrency (Derivative) info Yes Yes info
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 info 1 info 1.57 info
All-in Cost EUR/USD - Active info N/A 1.57 info
Active Trader or VIP Discounts info Yes Yes info
Inactivity Fee info Yes Yes
Execution: Agency Broker info Yes No
Execution: Market Maker info Yes Yes
Funding eToro OANDA
Minimum Deposit info $50-$10,000 $0
PayPal (Deposit/Withdraw) info Yes Yes info
Skrill (Deposit/Withdraw) info Yes Yes info
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
ACH or SEPA Transfers info Yes Yes info
Trading Platforms eToro OANDA
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info No Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes Yes info
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No Yes info
cTrader info No No
DupliTrade info No No
ZuluTrade info No No
Trading Tools eToro OANDA
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 6 6
Charting - Indicators / Studies (Total) info 104 81
Charting - Drawing Tools (Total) info 161 431
Charting - Trade From Chart info No Yes
Charts can be saved info Yes Yes
Mobile Trading eToro OANDA
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Mobile Watchlist info Yes Yes
Watchlist Syncing info Yes No
Mobile Charting - Indicators / Studies info 104 30
Mobile Charting - Draw Trendlines info No Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info No Yes
Mobile Economic Calendar info No Yes
Research eToro OANDA
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info No Yes
Autochartist info No Yes
Trading Central (Recognia) info Yes No
TipRanks info Yes No
Social Sentiment - Currency Pairs info Yes Yes
Economic Calendar info Yes Yes
Education eToro OANDA
Education (Forex or CFDs) info Yes Yes
Client Webinars info Yes Yes
Client Webinars (Archived) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Investor Dictionary (Glossary) info Yes Yes
Major Forex Pairs eToro OANDA
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD info Yes Yes
Review eToro Review OANDA Review
Overall eToro OANDA
Overall Rating info 4.5/5 Stars 4.5/5 Stars
Commissions & Fees 4.5/5 Stars 4/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 4.5/5 Stars 4/5 Stars
Mobile Trading 4.5/5 Stars 4.5/5 Stars
Research 4.5/5 Stars 5/5 Stars
Education 4.5/5 Stars 4/5 Stars
Trust Score info 90 93
Winner check_circle
Review eToro Review OANDA Review
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eToro vs OANDA Comparison

We’ve made it easy to compare the best forex brokers, side-by-side. Our editorial team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Our research is unbiased and independent; learn more about how we test. That same research and data powers our broker comparisons. Let's compare eToro vs OANDA.

Can I trust eToro?

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 regulated in the European Union via the MiFID passporting system.

Can I trust OANDA?

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 regulated in the European Union via the MiFID passporting system.

Is eToro good?

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.

Is OANDA good?

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.

What is the minimum deposit requirement for opening an account with eToro?

To open a trading account with eToro, you'll need to make an initial minimum deposit of $50-$10,000.

What is the minimum deposit requirement for opening an account with OANDA?

OANDA requires a minimum deposit of $0 before you can open an account and start trading.

What funding options does each broker offer?

It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Both eToro and OANDA offer Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw).

Does eToro or OANDA offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that eToro offers better pricing overall for traders.

Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.

Is eToro or OANDA safer for forex and CFDs trading?

At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that OANDA holds 7 global Tier-1 licenses, while eToro holds 3. Both eToro and OANDA hold 0 global Tier-2 licenses.

After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that OANDA (93) earned a higher Trust Score than eToro (90).

Which trading platform is better: eToro or OANDA?

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.

Here’s what trading platforms are available at eToro:

  • Proprietary Platform - Yes
  • Web Platform - Yes
  • cTrader - No
  • DupliTrade - No
  • MT4 - No
  • MT5 - No
  • ZuluTrade - No
  • TradingView - No

Here’s what trading platforms are available at OANDA:

  • Proprietary Platform - Yes
  • Web Platform - Yes
  • cTrader - No
  • DupliTrade - No
  • MT4 - Yes
  • MT5 - Yes
  • ZuluTrade - No
  • TradingView - Yes

What about MetaTrader? How about copy trading?

The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. OANDA offers MetaTrader 4 (MT4), while eToro does not. Forex traders also appreciate the ability to engage in social copy trading. eToro and OANDA both offer copy trading.

What can I trade with each broker?

OANDA provides traders 71 currency pairs (e.g., EUR/USD) compared to eToro's 52 available pairs. If you are interested in trading a full range of securities, eToro offers traders access to 3479 tradeable symbols, while OANDA offers access to 1744 tradeable symbols; so eToro offers 1735 more tradeable symbols than OANDA.

We found in our testing that eToro offers a more diverse selection of investment options than OANDA, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Int'l Stock Trading (Non CFD), Cryptocurrency (Physical), Cryptocurrency (Derivative) and Social Trading / Copy Trading.

Overall winner: eToro

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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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