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OANDA vs eToro 2020

Is eToro better than OANDA? After testing 30 of the best forex brokers over five months, OANDA is better than eToro. As a trusted global brand, OANDA provides forex and CFD traders a limited offering of FX pairs and CFDs but stands out for its reputation and quality market research.



CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Overall Rating

Feature OANDA eToro
Overall 4 4
OANDA Review eToro Review
73.5% of retail CFD accounts lose money 75% of retail CFD accounts lose money

Regulation

Feature OANDA eToro
Trust Score 89 91
Year Founded
1996 2007
Publicly Traded (Listed)
No No
Bank
No No
Tier-1 Licenses
6 2
Tier-2 Licenses
0 1
Tier-3 Licenses
0 0
Authorised in the European Union
Yes Yes

Tier-1 Licenses

Feature OANDA eToro
ASIC Authorised (Australia)
Yes Yes
IIROC Authorised (Canada)
Yes No
SFC Authorised (Hong Kong)
No No
FSA Authorised (Japan)
Yes No
MAS Authorised (Singapore)
Yes No
FINMA Authorised (Switzerland)
No No
FCA Authorised (UK)
Yes Yes
CFTC Registered (USA)
Yes No

Investments

Feature OANDA eToro
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
Yes Yes
Currency Pairs (Total Forex pairs)
70 47
CFDs - Total Offered
55 2314
Cryptocurrency traded as actual
No Yes
Cryptocurrency traded as CFD
Yes Yes
Offering of Investments 3.5 4.5
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Cost

Feature OANDA eToro
Average Spread EUR/USD - Standard
1.4 (August 2020) 1 (August 2020)
All-in Cost EUR/USD - Active
1.4 (August 2020)) N/A
Active Trader or VIP Discounts
Yes Yes
Commissions & Fees 4 3
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Funding

Feature OANDA eToro
Minimum Initial Deposit
$0.00 $200
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes Yes
PayPal (Deposit/Withdraw)
Yes Yes
Skrill (Deposit/Withdraw)
No Yes

Trading Platforms

Feature OANDA eToro
Proprietary Platform
Yes Yes
Desktop Platform (Windows)
Yes No
Web Platform
Yes Yes
Social Trading / Copy-Trading
Yes Yes
MetaTrader 4 (MT4)
Yes No
MetaTrader 5 (MT5)
Yes No
cTrader
No No

Trading Tools

Feature OANDA eToro
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
7 6
Charting - Indicators / Studies (Total)
81 66
Charting - Drawing Tools (Total)
431 13
Charting - Trade From Chart
Yes No
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes
Platform & Tools 3.5 4
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Mobile Trading

Feature OANDA eToro
Android App
Yes Yes
Apple iOS App
Yes Yes
Trading - Forex
Yes Yes
Trading - CFDs
Yes Yes
Alerts - Basic Fields
Yes No
Watch List
Yes Yes
Watch List Syncing
No Yes
Charting - Indicators / Studies
33 5
Charting - Draw Trend Lines
Yes No
Charting - Trend Lines Moveable
Yes No
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes No
Forex Calendar
Yes No
Mobile Trading 4 4
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Research

Feature OANDA eToro
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
Yes No
Weekly Webinars
Yes No
AutoChartist
Yes No
Trading Central (Recognia)
No No
Delkos Research
No No
Social Sentiment - Currency Pairs
Yes Yes
Economic Calendar
Yes Yes
Research 4.5 4
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Education

Feature OANDA eToro
Has Education - Forex
Yes Yes
Has Education - CFDs
No No
Client Webinars
Yes Yes
Client Webinars (Archived)
Yes No
Videos - Beginner Trading Videos
Yes Yes
Videos - Advanced Trading Videos
Yes Yes
Investor Dictionary (Glossary)
Yes Yes
Education 3.5 4
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Major Forex Pairs

Feature OANDA eToro
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

Overall

Feature OANDA eToro
OANDA Review eToro Review
Overall 4 4
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Comparing forex brokers side by side is no easy task. For our 2020 annual forex broker review, we spent hundreds of hours assessing 30 forex and CFD brokerages to find the best forex broker. Let's compare eToro vs OANDA.

Does eToro or OANDA offer lower pricing?
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, OANDA offers better pricing overall for traders.

Is eToro or OANDA safer for forex and CFDs trading?
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 20 international regulator databases. Here's our findings. OANDA holds 6 global Tier-1 licenses, while eToro holds 2. eToro holds 1 global Tier-2 licenses, while OANDA holds 0. All regulators considered, eToro has a Trust Score of 91.00, while OANDA's Trust Score is 89.00.

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 eToro to provide better mobile trading apps.

What about MetaTrader and copy trading?
For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. eToro and OANDA both offer copy trading. OANDA offers MetaTrader 4 (MT4), while eToro does not.

How many forex pairs and CFDs are available to trade?
OANDA provides traders 70 currency pairs (e.g., EUR/USD) compared to eToro's 47 available pairs. Forex pairs aside, eToro offers traders access to 2314 CFDs while OANDA has 55 available CFDs, a difference of 2,259.

Overall, between eToro and OANDA, OANDA is the better forex broker.

eToro Review
OANDA Review

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Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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OANDA - CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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