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eToro vs OANDA 2022

ForexBrokers.com

Written by ForexBrokers.com

November 08, 2022

Is eToro better than OANDA? In our analysis of 23 international regulators across 39 of the best forex brokers, eToro is considered low-risk, with an overall Trust Score of 93 out of 99. OANDA is considered low-risk, with an overall Trust Score of 92 out of 99. Learn more about Trust Score.

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Overall RatingeToroOANDAIG
Overall Rating4.5 Stars4.5 Stars5 Stars
Commissions & Fees4.5 Stars4 Stars5 Stars
Offering of Investments5 Stars3.5 Stars5 Stars
Platform & Tools4.5 Stars4 Stars5 Stars
Mobile Trading4.5 Stars4.5 Stars5 Stars
Research4.5 Stars4.5 Stars5 Stars
Education4 Stars4 Stars5 Stars
Trust Score939299
Winnercheck_circle
RevieweToro ReviewOANDA ReviewIG Review
RegulationeToroOANDAIG
Trust Score939299
Year Founded200719961974
Publicly Traded (Listed)NoNoYes
BankNoNoYes
Tier-1 Licenses267
Tier-2 Licenses102
Tier-3 Licenses011
Authorised in European UnionYesYesYes
About RegulationA โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.A โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.A โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.
Tier-1 Licenses (High Trust)eToroOANDAIG
ASIC Authorised (Australia)YesYesYes
IIROC Authorised (Canada)NoYesNo
SFC Authorised (Hong Kong)NoNoNo
CBI Authorised (Ireland)NoNoNo
FSA Authorised (Japan)NoYesYes
MAS Authorised (Singapore)NoYesYes
FINMA Authorised (Switzerland)NoNoYes
FCA Authorised (U.K.)YesYesYes
CFTC Registered (USA)NoYesYes
FMA Authorised (New Zealand)NoNoYes
Tier-2 Licenses (Average Trust)eToroOANDAIG
CBRC Authorised (China)NoNoNo
CySEC Authorised (Cyprus)YesNoNo
SEBI Authorised (India)NoNoNo
ISA Authorised (Israel)NoNoNo
CBR Authorised (Russia)NoNoNo
FSCA Authorised (South Africa)NoNoYes
SEC Authorised (Thailand)NoNoNo
DFSA / Central Bank Authorised (UAE)NoNoYes
Tier-3 Licenses (Low Trust)eToroOANDAIG
SCB Authorised (Bahamas)NoNoNo
IFSC Authorised (Belize)NoNoNo
CIMA Authorised (Cayman Islands)NoNoNo
BMA Authorised (Bermuda)NoNoYes
FSC Authorised (British Virgin Islands)NoYesNo
FSC Authorised (Mauritius)NoNoNo
VFSC Authorised (Vanuatu)NoNoNo
InvestmentseToroOANDAIG
Forex Trading (Spot or CFDs)YesYesYes
Tradeable Symbols (Total)345812419537
Forex Pairs (Total)4971100
U.S. Stock Trading (Non CFD)YesNoYes
Int'l Stock Trading (Non CFD)YesNoYes
Social Trading / Copy TradingYesYesYes
Cryptocurrency (Physical)YesYesNo
Cryptocurrency (CFD)YesYesYes
DisclaimersNote: 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).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).
CosteToroOANDAIG
Average Spread EUR/USD - Standard1 (August 2021)1.26 (5/22-5/27/22)0.86 (September 2022)
All-in Cost EUR/USD - ActiveN/A1.26 (5/22-5/27/22)0.5957 (September 2022)
Active Trader or VIP DiscountsYesYesYes
Execution: Agency BrokerYesNoYes
Execution: Market MakerYesYesYes
FundingeToroOANDAIG
Minimum Initial Deposit$10-$10,000$0ยฃ250.00
PayPal (Deposit/Withdraw)YesYesYes
Skrill (Deposit/Withdraw)YesYesNo
Visa/Mastercard (Credit/Debit)YesYesYes
Bank Wire (Deposit/Withdraw)YesYesYes
Trading PlatformseToroOANDAIG
Proprietary PlatformYesYesYes
Desktop Platform (Windows)NoYesYes
Web PlatformYesYesYes
Social Trading / Copy TradingYesYesYes
MetaTrader 4 (MT4)NoYesYes
MetaTrader 5 (MT5)NoYesNo
cTraderNoNoNo
DupliTradeNoNoNo
ZuluTradeNoYesNo
Trading ToolseToroOANDAIG
Virtual Trading (Demo)YesYesYes
Alerts - Basic FieldsYesYesYes
Watchlists - Total Fields6614
Charting - Indicators / Studies (Total)668133
Charting - Drawing Tools (Total)1343120
Charting - Trade From ChartNoYesYes
Charts can be savedYesYesYes
Mobile TradingeToroOANDAIG
Android AppYesYesYes
Apple iOS AppYesYesYes
Mobile Alerts - Basic FieldsYesYesYes
Mobile WatchlistYesYesYes
Watchlist SyncingYesNoYes
Mobile Charting - Indicators / Studies53333
Mobile Charting - Draw TrendlinesNoYesYes
Mobile Charting - Multiple Time FramesYesYesYes
Mobile Charting - Drawings AutosaveNoYesYes
Forex CalendarNoYesYes
ResearcheToroOANDAIG
Daily Market CommentaryYesYesYes
Forex News (Top-Tier Sources)NoYesYes
AutochartistNoYesYes
Trading Central (Recognia)YesNoNo
Social Sentiment - Currency PairsYesYesYes
Economic CalendarYesYesYes
EducationeToroOANDAIG
Has Education - Forex or CFDsYesYesYes
Client WebinarsYesYesYes
Client Webinars (Archived)YesYesYes
Videos - Beginner Trading VideosYesYesYes
Videos - Advanced Trading VideosYesYesYes
Investor Dictionary (Glossary)YesYesYes
Major Forex PairseToroOANDAIG
GBP/USDYesYesYes
USD/JPYYesYesYes
EUR/USDYesYesYes
USD/CHFYesYesYes
USD/CADYesYesYes
NZD/USDYesYesYes
AUD/USDYesYesYes
RevieweToro ReviewOANDA ReviewIG Review
OveralleToroOANDAIG
Overall Rating4.5 Stars4.5 Stars5 Stars
Commissions & Fees4.5 Stars4 Stars5 Stars
Offering of Investments5 Stars3.5 Stars5 Stars
Platform & Tools4.5 Stars4 Stars5 Stars
Mobile Trading4.5 Stars4.5 Stars5 Stars
Research4.5 Stars4.5 Stars5 Stars
Education4 Stars4 Stars5 Stars
Trust Score939299
Winnercheck_circle
RevieweToro ReviewOANDA ReviewIG Review
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eToro vs OANDA Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 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, IG 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 23 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. In our analysis of 23 international regulators across 50 brokers, eToro earned a higher Trust Score than OANDA.

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, IG offers a better experience. With research, IG offers superior market research. Finally, we found IG 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. Neither broker offers Meta Trader.eToro and OANDA both offer copy trading.

How many forex pairs and CFDs are available to trade?

OANDA provides traders 71 currency pairs (e.g., EUR/USD) compared to eToro's 49 available pairs. Forex pairs aside, eToro offers traders access to 3458 CFDs while OANDA has 124 available CFDs, a difference of 3334.

Can I trust eToro?

eToro is not publicly traded and does not operate a bank. eToro is authorised by two tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). eToro is authorised by the following tier-1 regulators: Australian Securities & Exchange Commission (ASIC) and the Financial Conduct Authority (FCA).

Can I trust OANDA?

OANDA is not publicly traded and does not operate a bank. OANDA is authorised by six tier-1 regulators (high trust), zero tier-2 regulators (average trust), and one tier-3 regulators (low trust). 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).

Is eToro good?

eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors โ€“ 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.

Overall winner: IG

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We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ 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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