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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
77% of retail CFD accounts lose money 62% 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)
71 47
CFDs - Total Offered
53 1980
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 (as of Q3 2018) 3 (as of May 19)
All-in Cost EUR/USD - Active
1.4 (as of Oct 19) 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)
No 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)
No 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)
145 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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Our ForexBrokers.com team spent several months and hundreds of hours assessing 30 different forex broker accounts for trading FX. In total, over 3,180 data points were collected. For this review, we will compare eToro vs OANDA.

To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. OANDA's score is 4.00 stars versus eToro's 3.00 stars.

Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. eToro alongside OANDA are regulated in a major hub. Neither eToro and OANDA are publicly traded companies. How many currency pairs are available to trade? OANDA offers its clients access to 71 different currency pairs while eToro has 47 available pairs, a difference of 24.

To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. OANDA has Meta Trader, eToro doesn't. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. OANDA offers its clients access to 31 charting tools while eToro has 13 charting tools, a difference of 18. eToro boasts an offering of 66 different indicators (for example, moving averages) compared to OANDA's 51 available indicators.

eToro Review
OANDA Review


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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