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 |
If you’re comparing commissions and fees, eToro earns 4.5 out of 5 stars and ranks #23 out of 63 brokers at ForexBrokers.com, while OANDA earns 4.0 out of 5 stars and ranks #35 out of 63. Both mainly charge through spreads, but their pricing setups and extras differ in ways that may matter based on your balance and trading style.
eToro is a market-maker with a typical variable spread of about 1 pip on EUR/USD, which is slightly above the industry average. Many retail traders pick eToro for its social copy trading rather than for ultra-tight spreads. For larger balances, the eToro Club (Silver to Diamond) covers $5,000–$250,000 and adds perks like Trading Central access, discounted withdrawal and deposit fees, and a dedicated account manager.
OANDA’s costs skew higher versus the cheapest brokers. Its default pricing recently averaged about 1.61 pips on EUR/USD (July 2024). The Core Pricing plan lowers the spread but adds a commission of $5 per side per $100,000 traded (about $10 per round turn) and requires a $10,000 minimum deposit; using the example provided, a 0.4-pip spread plus roughly 1 pip in commission-equivalent yields an all-in cost near 1.4 pips—slightly better than the 1.6-pip default. OANDA also supports tiny trade sizes (down to 1 unit), offers volume rebates of $5–$17 per million for active traders in select regions, and publishes trailing average spreads for greater transparency.
| Feature |
eToro
|
OANDA
|
|---|---|---|
| Minimum Deposit | $50-$10,000 | $0 |
| Average spread (EUR/USD) - Standard account | N/A | 1.69 |
| 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.
eToro and OANDA both cover the essentials for multi-asset traders. Each offers forex as both CFDs and spot trading, access to U.S. and international exchange-traded stocks (not just CFDs), copy trading, and both real cryptocurrency and crypto CFDs. Where they differ is breadth: eToro lists 7,441 tradeable symbols overall compared with OANDA’s 4,172, while OANDA offers more currency pairs (69 vs. eToro’s 55), which may appeal to FX-focused traders.
For range of investments, eToro earns 5 stars and ranks #11 out of 63 brokers on ForexBrokers.com, while OANDA holds 4 stars and ranks #28. In short, asset hunters may prefer eToro’s larger catalog, whereas active forex traders might value OANDA’s wider selection of currency pairs.
| 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 vs OANDA on trading platforms and tools: both brokers offer free demo (paper) accounts, in-house proprietary platforms, web-based trading, copy trading, and the ability to place trades directly from charts. Key differences come down to platform choices. eToro does not offer a Windows desktop download and does not support MetaTrader 4 (MT4) or MetaTrader 5 (MT5). OANDA, by contrast, provides a Windows desktop platform and supports both MT4 and MT5.
Independent ratings reflect these strengths. For Trading Platforms and Tools, eToro is rated 4.5 out of 5 stars and ranked #8 out of 63 brokers by ForexBrokers.com, while OANDA earns 4 out of 5 stars and ranks #15. If you want MT4/MT5 or a downloadable desktop platform, OANDA is the better fit. If you’re comfortable trading in the browser on a proprietary platform and want copy trading without relying on MT4/MT5, eToro is a strong option.
| 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.
Comparing eToro vs OANDA for beginner education, both brokers deliver plenty of forex and CFD learning materials. Each offers at least 10 pieces of course content, plus online client webinars at least once a month. You’ll also find at least 10 beginner-focused videos with both brokers, along with 10+ advanced videos to keep growing after you’ve learned the basics.
According to ForexBrokers.com, eToro is rated 4.5/5 for Education and ranks #5 out of 63 brokers, while OANDA is rated 5/5 and ranks #19 out of 63. If you prefer a higher category placement, eToro comes out ahead; if a top star score matters most, OANDA has the edge. Either way, both are solid choices for beginners seeking clear, accessible trading education.
| 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 #12.
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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| 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 | 1.69 | |
| 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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