Written by ForexBrokers.com
In this head to head comparison of eToro vs OANDA, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
eToro vs OANDA: eToro is an online broker founded in 2007 and is publicly traded, while OANDA was founded in 1996 and is not listed on a stock exchange. Neither broker is a bank. On ForexBrokers.com’s 99-point Trust Score, eToro scores 96 and OANDA scores 93.
Looking at regulation, eToro holds 4 Tier-1 licenses and 1 Tier-2 license, while OANDA holds 7 Tier-1 licenses and no Tier-2 licenses. On the ForexBrokers.com scale, 90–99 is highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, and below 59 not trusted—so both eToro and OANDA are rated highly trusted.
| Feature |
eToro
|
OANDA
|
|---|---|---|
| Year Founded | 2007 | 1996 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 7 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
Comparing commissions and fees, eToro earns 4.5 stars and ranks #22 out of 63, while OANDA earns 4 stars and ranks #30. eToro is a market-maker with a typical variable spread of about 1 pip on EUR/USD, a touch higher than the industry average. Many retail traders pick eToro more for its social copy trading features than for its spreads. OANDA’s trading costs are generally on the higher side versus the cheapest brokers; for example, its average non-core pricing on EUR/USD was 1.61 pips in July 2024. OANDA’s key draw is its automated execution across account types.
On eToro, the fee picture is straightforward: no separate commission for forex, and spreads that start around 1 pip on major pairs like EUR/USD. High-balance clients can join the eToro Club (Silver through Diamond) by maintaining $5,000–$250,000, unlocking perks such as access to Trading Central, discounted withdrawal and deposit fees, and a dedicated account manager.
OANDA offers two main pricing paths. Its default, commission-free pricing has wider spreads, while its Core Pricing option reduces the spread but adds a commission of $5 per side per $100,000 traded (about $10 per round turn), with a $10,000 minimum deposit. In a typical example, EUR/USD might be 1.6 pips all-in on the default plan versus about 1.4 pips all-in on Core Pricing (0.4-pip spread plus roughly 1 pip in commission equivalent), making Core slightly cheaper. OANDA also lets you trade in tiny sizes starting at 1 unit, and its Elite Trader program pays volume-based rebates of $5–$17 per million, with possible TradingView subscription reimbursements. The broker publishes trailing average spreads for transparency, though not fixed-period averages, which can make exact comparisons harder.
| Feature |
eToro
|
OANDA
|
|---|---|---|
| Minimum Deposit | $50-$10,000 | $0 |
| Average spread (EUR/USD) - Standard account | N/A | 1.68 |
| All-in Cost EUR/USD - Active | N/A | 1.69 |
| Non-wire bank transfer | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
For range of investments, eToro offers the larger catalog with 7,441 tradeable symbols, while OANDA lists 4,172. Both let you trade forex as CFDs or spot, but OANDA edges out eToro in currency choice with 69 forex pairs to eToro’s 55. Each broker also supports buying exchange-traded securities on U.S. and international exchanges, so you can purchase shares like Apple on Nasdaq or Vodafone in London. Copy trading is available on both, and you can access cryptocurrency either as real coins you own or as CFDs.
Based on ForexBrokers.com’s scoring for Range of Investments, eToro earns 5 stars and ranks 11th out of 63 brokers, while OANDA earns 4 stars and ranks 20th. In short: pick eToro if you want the most markets overall with stocks, crypto, and social features in one place; pick OANDA if your priority is a larger list of forex pairs while still keeping access to stocks and crypto.
| Feature |
eToro
|
OANDA
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 7441 | 4172 |
| Forex Pairs (Total) | 55 | 69 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | Yes | Yes |
| Cryptocurrency (CFDs) | 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). |
Dive deeper: Best Copy Trading Platforms.
Comparing eToro and OANDA on trading platforms and tools, both brokers check key boxes: each offers a free virtual demo account for paper trading, an in-house trading platform, a web-based platform, and copy trading. Both also let you place orders straight from price charts, making it easier to act on what you see without switching screens.
The biggest differences come down to platform choice. OANDA adds a Windows desktop platform and supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which is appealing if you want desktop software or to use MetaTrader’s ecosystem. eToro does not offer a Windows desktop platform or MT4/MT5, leaning instead on its browser platform and social trading features. In our ratings, eToro scores 4.5/5 stars and ranks #8 of 63 for Trading Platforms and Tools, while OANDA scores 4/5 stars and ranks #16—making eToro a strong pick for web-first and social traders, and OANDA a solid fit for those who want desktop and MetaTrader support.
| Feature |
eToro
|
OANDA
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 106 | 89 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both eToro and OANDA offer iPhone and Android mobile trading apps, and each supports price alerts for stocks and forex. A key difference is watchlist syncing: eToro syncs watchlists between the mobile app and your online account, while OANDA does not. In ForexBrokers.com’s Mobile Trading Apps category, OANDA earns 5 stars and ranks #7 out of 63 brokers, while eToro scores 4.5 stars and ranks #10.
For charting, eToro provides 104 technical studies, but it does not let you draw trendlines and it won’t auto-save drawings. OANDA includes 30 technical studies, yet it does support trendline drawing and automatically saves your chart annotations. Choose eToro if you want more built-in indicators and seamless watchlist syncing; go with OANDA if you value drawing tools, auto-saved charts, and the higher third-party rating.
| Feature |
eToro
|
OANDA
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 104 | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Trendlines Autosave | No | Yes |
Dive deeper: Best Forex Trading Apps.
eToro vs OANDA: both brokers cover the basics of market research well. Each provides daily market commentary, forex news from top-tier sources (such as Bloomberg, Reuters, or Dow Jones), sentiment tools showing long/short positioning, and an economic calendar. Neither uses Acuity Trading. The key differences are in third-party analytics: OANDA includes Autochartist for pattern detection and trade ideas, while eToro offers Trading Central tools and TipRanks market research.
According to ForexBrokers.com, OANDA earns a 5-star Research rating and ranks #4 of 63, while eToro scores 4.5 stars and ranks #13. Choose OANDA if you want Autochartist-driven technical ideas on top of news and commentary; pick eToro if Trading Central analysis and TipRanks research are priorities alongside sentiment and news coverage.
| Feature |
eToro
|
OANDA
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central | Yes | No |
| Client sentiment data | Yes | Yes |
| TipRanks | Yes | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
eToro and OANDA both make it easy for beginner traders to learn. Each broker runs online educational webinars at least once a month and offers a deep library of videos, including at least 10 for beginners and at least 10 for advanced topics. This mix helps new traders learn the basics and keep progressing with strategy ideas and platform tips tied to forex and CFDs.
For quality scores, OANDA earns 5 out of 5 stars for Education, while eToro is rated 4.5 out of 5. In ForexBrokers.com’s Education category, eToro ranks #3 out of 63 brokers, and OANDA ranks #18. In short: OANDA delivers top-rated lessons and regular webinars, and eToro’s education ranks near the top overall. Either way, beginners get frequent live sessions and plenty of video content to build confidence.
| Feature |
eToro
|
OANDA
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that eToro is better than OANDA. eToro finished with an overall rank of #9, while OANDA finished with an overall rank of #13.
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.
| Feature |
eToro
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OANDA
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| Overall Rating |
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| Trust Score | 96 | 93 |
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eToro vs OANDA: both online brokers let you buy actual (delivered) cryptocurrency and trade cryptocurrency CFDs, giving traders flexibility to own coins outright or speculate via derivatives on either platform.
In the eToro vs OANDA comparison, both brokers support ACH/SEPA, PayPal, Skrill, and bank wire deposits and withdrawals, while Visa/Mastercard availability is not specified.
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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0 of 5| Overall Rating | eToro | OANDA | |
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| Trust Score | 96 | 93 | |
| Winner | check_circle | ||
| Review | eToro Review | OANDA Review |
| Broker Screenshots | eToro | OANDA | |
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| Regulation | eToro | OANDA | |
|---|---|---|---|
| Trust Score | 96 | 93 | |
| Year Founded | 2007 | 1996 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 7 | |
| Tier-2 Licenses | 1 | 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 (FSA Authorised) | No | Yes | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | Yes | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | eToro | OANDA | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | eToro | OANDA | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 7441 | 4172 | |
| Forex Pairs (Total) | 55 | 69 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | Yes | Yes | |
| Cryptocurrency (CFDs) | 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 account | N/A | 1.68 | |
| All-in Cost EUR/USD - Active | N/A | 1.69 | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | eToro | OANDA | |
|---|---|---|---|
| Minimum Deposit | $50-$10,000 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | Yes |
| Trading Platforms | eToro | OANDA | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No |
| Trading Tools | eToro | OANDA | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 106 | 89 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | eToro | OANDA | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 104 | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Trendlines Autosave | No | Yes | |
| Mobile Research - Economic Calendar | No | Yes |
| Research | eToro | OANDA | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central | Yes | No | |
| TipRanks | Yes | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | eToro | OANDA | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | eToro | OANDA | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | eToro Review | OANDA Review |
| Overall | eToro | OANDA | |
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| Trust Score | 96 | 93 | |
| Winner | check_circle | ||
| Review | eToro Review | OANDA Review |
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