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.
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OANDA vs eToro 2020
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.
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Overall Rating
| Feature | OANDA | eToro |
| Overall | ||
| 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 |
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Year Founded |
1996 | 2007 |
|
Publicly Traded (Listed) |
No | No |
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Bank |
No | No |
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Tier-1 Licenses |
6 | 2 |
|
Tier-2 Licenses |
0 | 1 |
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Tier-3 Licenses |
0 | 0 |
|
Authorised in the European Union |
Yes | Yes |
Tier-1 Licenses
| Feature | OANDA | eToro |
|
ASIC Authorised (Australia) |
Yes | Yes |
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IIROC Authorised (Canada) |
Yes | No |
|
SFC Authorised (Hong Kong) |
No | No |
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FSA Authorised (Japan) |
Yes | No |
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MAS Authorised (Singapore) |
Yes | No |
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FINMA Authorised (Switzerland) |
No | No |
|
FCA Authorised (UK) |
Yes | Yes |
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CFTC Registered (USA) |
Yes | No |
Investments
| Feature | OANDA | eToro |
|
Forex: Spot Trading |
Yes | Yes |
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Social Trading / Copy-Trading |
Yes | Yes |
|
Currency Pairs (Total Forex pairs) |
71 | 47 |
|
CFDs - Total Offered |
53 | 1980 |
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Cryptocurrency traded as actual |
No | Yes |
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Cryptocurrency traded as CFD |
Yes | Yes |
| Offering of Investments | ||
| Winner | check_circle |
Cost
| Feature | OANDA | eToro |
|
Average Spread EUR/USD - Standard |
1.4 (as of Q3 2018) | 3 (as of May 19) |
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All-in Cost EUR/USD - Active |
1.4 (as of Oct 19) | N/A |
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Active Trader or VIP Discounts |
Yes | Yes |
| Commissions & Fees | ||
| Winner | check_circle |
Funding
| Feature | OANDA | eToro |
|
Minimum Initial Deposit |
$0.00 | $200 |
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Bank Wire (Deposit/Withdraw) |
Yes | Yes |
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Visa/Mastercard (Credit/Debit) |
Yes | Yes |
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PayPal (Deposit/Withdraw) |
No | Yes |
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Skrill (Deposit/Withdraw) |
No | Yes |
Trading Platforms
| Feature | OANDA | eToro |
|
Proprietary Platform |
Yes | Yes |
|
Desktop Platform (Windows) |
Yes | No |
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Web Platform |
Yes | Yes |
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Social Trading / Copy-Trading |
Yes | Yes |
|
MetaTrader 4 (MT4) |
Yes | No |
|
MetaTrader 5 (MT5) |
No | No |
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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 |
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Charting - Trade From Chart |
Yes | No |
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Charting - Drawings Autosave |
Yes | Yes |
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Order Type - Trailing Stop |
Yes | Yes |
| Platform & Tools | ||
| Winner | check_circle |
Mobile Trading
| Feature | OANDA | eToro |
|
Android App |
Yes | Yes |
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Apple iOS App |
Yes | Yes |
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Trading - Forex |
Yes | Yes |
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Trading - CFDs |
Yes | Yes |
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Alerts - Basic Fields |
Yes | No |
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Watch List |
Yes | Yes |
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Watch List Syncing |
No | Yes |
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Charting - Indicators / Studies |
33 | 5 |
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Charting - Draw Trend Lines |
Yes | No |
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Charting - Trend Lines Moveable |
Yes | No |
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Charting - Multiple Time Frames |
Yes | Yes |
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Charting - Drawings Autosave |
Yes | No |
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Forex Calendar |
Yes | No |
| Mobile Trading | ||
| Winner | check_circle |
Research
| Feature | OANDA | eToro |
|
Daily Market Commentary |
Yes | Yes |
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Forex News (Top-Tier Sources) |
Yes | No |
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Weekly Webinars |
Yes | No |
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AutoChartist |
Yes | No |
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Trading Central (Recognia) |
No | No |
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Delkos Research |
No | No |
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Social Sentiment - Currency Pairs |
Yes | Yes |
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Economic Calendar |
Yes | Yes |
| Research | ||
| Winner | check_circle |
Education
| Feature | OANDA | eToro |
|
Has Education - Forex |
Yes | Yes |
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Has Education - CFDs |
No | No |
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Client Webinars |
Yes | Yes |
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Client Webinars (Archived) |
Yes | No |
|
Videos - Beginner Trading Videos |
Yes | Yes |
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Videos - Advanced Trading Videos |
Yes | Yes |
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Investor Dictionary (Glossary) |
Yes | Yes |
| Education | ||
| Winner | check_circle |
Major Forex Pairs
| Feature | OANDA | eToro |
|
GBP/USD |
Yes | Yes |
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USD/JPY |
Yes | Yes |
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EUR/USD |
Yes | Yes |
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USD/CHF |
Yes | Yes |
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USD/CAD |
Yes | Yes |
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NZD/USD |
Yes | Yes |
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AUD/USD |
Yes | Yes |
Overall
| Feature | OANDA | eToro |
| OANDA Review | eToro Review | |
| Overall | ||
| Winner | check_circle |
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 71 currency pairs (e.g., EUR/USD) compared to eToro's 47 available pairs. Forex pairs aside, eToro offers traders access to 1980 CFDs while OANDA has 53 available CFDs, a difference of 1,927.
Overall, between eToro and OANDA, OANDA is the better forex broker.
eToro ReviewOANDA 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.
