Written by ForexBrokers.com
In this head to head comparison of OANDA vs FinecoBank, 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.
OANDA, established in 1996, and FinecoBank, founded in 1999, are both well-regarded in the world of online trading, with Trust Scores from ForexBrokers.com that reflect their reliability. OANDA holds a Trust Score of 93 out of 99, indicating it is highly trusted. FinecoBank edges slightly ahead with a Trust Score of 94, also placing it in the highly trusted category. One key difference is that FinecoBank is publicly traded and operates as a bank, while OANDA is not a publicly listed company and is not a bank.
When it comes to regulatory credentials, OANDA stands out with seven Tier-1 licenses, which are seen as highly trustworthy by ForexBrokers.com. In comparison, FinecoBank holds two Tier-1 licenses. Neither of the brokers has Tier-2 licenses, which are considered less prestigious but still trusted. These distinctions in regulatory standing and company structure are crucial considerations for potential clients evaluating their options in online trading platforms.
| Feature |
OANDA
|
FinecoBank
|
|---|---|---|
| Year Founded | 1996 | 1999 |
| Publicly Traded (Listed) | No | Yes |
| Bank | No | Yes |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When it comes to comparing commissions and fees between OANDA and FinecoBank, both options offer unique features that cater to different trading preferences, but there's a notable variance in costs. OANDA’s forex trading expenses are generally on the higher side, with hefty spreads, even in its core pricing structure. Despite this, OANDA stands out for its automated execution and brings down the minimum trade size to a remarkable 1 unit or 0.001 micro lot. On the other hand, FinecoBank doesn't share extensive data on its actual trading costs, making it challenging to get a comprehensive view. However, it lists a spread of 1 pip for the EUR/USD, which is higher than what many forex brokers typically offer.
Diving deeper into their pricing structures, OANDA's core pricing offers relatively better spreads alongside a commission of $5 per $100,000, which translates to about $10 per a complete trade cycle of a standard lot. This type of pricing is accessible with a $10,000 minimum deposit. Even when accounting for commissions, the all-in trading cost is slightly below its commission-free rates. FinecoBank's lack of average spread data complicates comparisons, yet it is noted that its spread offerings on index CFDs might be more attractive than its forex spreads.
In terms of ratings, OANDA earns 4 stars for its commissions and fees while being ranked 34th out of 62 brokers by ForexBrokers.com. FinecoBank, with a rating of 3.5 stars, holds the 50th position in the same list. These rankings reflect their differing transparency and pricing strategies, as well as the range of services each broker provides to meet the needs of both novice and seasoned traders.
| Feature |
OANDA
|
FinecoBank
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.61 | N/A |
| All-in Cost EUR/USD - Active | 1.61 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Visa/Mastercard (Credit/Debit) | Yes | No |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investment options between OANDA and FinecoBank, both platforms provide opportunities for forex trading through CFDs or spot contracts. OANDA offers 3,928 tradable symbols and 68 forex pairs, making it a considerable choice for forex enthusiasts. Meanwhile, FinecoBank surpasses OANDA in the sheer number of tradable symbols, offering 9,770 options, but provides slightly fewer forex pairs with a total of 54.
In terms of exchange-traded securities, FinecoBank stands out as it allows clients to buy shares directly on U.S. and international exchanges, including well-known companies like Apple and Vodafone. OANDA does not offer this capability but does provide the ability to engage in copy trading and buy actual cryptocurrencies, which could appeal to those interested in diverse trading strategies. Rating-wise, FinecoBank holds a slight edge in the investment range category with 4.5 stars compared to OANDA's 4 stars, reflecting its wider variety of offerings and higher ranking by ForexBrokers.com, placing it at #16 versus OANDA's #27.
| Feature |
OANDA
|
FinecoBank
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3928 | 9770 |
| Forex Pairs (Total) | 68 | 54 |
| U.S. Stock Trading (Non CFD) | No | Yes |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | Yes | No |
| Cryptocurrency (Physical) | Yes | No |
| Cryptocurrency (Derivative) | Yes | No |
| 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.
When comparing the trading platforms and tools of OANDA and FinecoBank, each has its own strengths. OANDA offers a free virtual demo account, allowing new traders to practice without financial risk, while FinecoBank does not provide this feature. Both brokers supply their own proprietary platforms alongside Windows-based desktop platforms and web-based options, accommodating various user preferences. A notable distinction is that OANDA supports both MetaTrader 4 and 5, giving users more flexibility and features, whereas FinecoBank does not offer these popular platforms. When it comes to copy trading, OANDA has this option, providing additional opportunities for traders, while FinecoBank lacks this feature.
Charting tools also differ significantly between the two platforms. OANDA shines with 431 drawing tools, offering traders rich options for technical analysis, whereas FinecoBank provides only 7. Additionally, OANDA allows trading directly from stock charts, enhancing trading efficiency, whereas FinecoBank does not. Further contrast is found in the watch list customization, with OANDA allowing six columns for personalization, an aspect FinecoBank fails to offer. Despite these differences, both OANDA and FinecoBank are rated four stars for their trading platforms and tools, with OANDA ranking slightly higher at 15th compared to FinecoBank's 17th place among 62 brokers according to ForexBrokers.com.
| Feature |
OANDA
|
FinecoBank
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 81 | 37 |
| Charting - Drawing Tools (Total) | 431 | 7 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 6 | N/A |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both OANDA and FinecoBank cater to both iPhone and Android users, offering functionality such as stock or forex price alerts. However, the similarities seem to end there. OANDA stands out with a five-star rating and is ranked 7th out of 62 brokers by ForexBrokers.com, while FinecoBank is rated four stars and ranks 42nd. A significant advantage for OANDA users is the inclusion of 30 technical studies for its charting, in comparison to the 6 offered by FinecoBank. Moreover, OANDA allows users to draw trendlines on charts, which can be auto-saved, whereas FinecoBank lacks this feature. Additionally, only OANDA offers real-time quotes for watchlists.
Both trading apps do not support watchlist symbol syncing, which means changes made on the mobile app do not reflect on the online account. While both apps allow viewing of multiple different time frames on charts, OANDA offers a more comprehensive and customizable mobile trading experience. With features like auto-saving of drawings and more extensive charting options, OANDA's mobile app provides a more streamlined and in-depth trading experience. FinecoBank, although capable, lags in these aspects, reflecting in its lower broker ranking and fewer features, which could make a difference for traders who rely heavily on comprehensive technical analysis on mobile devices.
| Feature |
OANDA
|
FinecoBank
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 6 |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, OANDA distinguishes itself by offering a range of tools and services that cater to traders seeking comprehensive insights. It provides daily market commentary and updates on forex news from top-tier sources like Bloomberg and Reuters. Moreover, OANDA integrates advanced tools such as Autochartist for technical analysis and a sentiment-based trading tool to give users a clearer sense of market trends. In addition to these, users can rely on an economic calendar to stay informed about global economic events. Rated 5 stars for research by ForexBrokers.com, OANDA holds an impressive 5th place among 62 brokers, highlighting its strong emphasis on providing valuable market insights.
FinecoBank, while offering credible forex news from renowned outlets and an economic calendar similar to OANDA, lacks in some areas of market research tools. This platform does not provide daily market commentary or technical analysis tools from Autochartist, nor does it offer a sentiment-based trading tool. Despite these gaps, FinecoBank still earns a respectable 4-star research rating and ranks 33rd by ForexBrokers.com. This position reflects its solid, yet not as expansive, offering when compared to OANDA in terms of market research capabilities.
| Feature |
OANDA
|
FinecoBank
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For those seeking educational resources in forex and CFDs, OANDA provides an extensive learning platform that outshines FinecoBank in several aspects. OANDA offers a wide range of educational materials, including over ten articles, videos, and archived webinars dedicated to forex and CFDs. This broker also excels in hosting monthly online educational webinars, which are structured to cater to both beginners and experienced traders. Moreover, OANDA provides access to a searchable archive of previous webinars, comprehensive beginner and advanced video tutorials, as well as a detailed investor dictionary with over 50 terms. This broad spectrum of resources contributes to their top-tier five-star education rating and a commendable rank of 22nd out of 62 in ForexBrokers.com's Education category.
In contrast, FinecoBank's educational offerings are somewhat limited, though they maintain a solid foundation for beginners. While FinecoBank also hosts monthly webinars and provides beginner-oriented video tutorials, they lack a searchable archive of past webinars. Advanced traders might find FinecoBank's resources less beneficial due to the absence of educational materials covering more complex topics. However, similar to OANDA, FinecoBank does offer a dictionary featuring over 50 investing terms. Despite these educational tools, FinecoBank receives a slightly lower education rating of four stars and ranks 49th out of 62 brokers according to ForexBrokers.com. Overall, for a more comprehensive educational experience tailored to both novices and seasoned traders, OANDA presents a more favorable option.
| Feature |
OANDA
|
FinecoBank
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that OANDA is better than FinecoBank. OANDA finished with an overall rank of #12, while FinecoBank finished with an overall rank of #25.
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.
| Feature |
OANDA
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FinecoBank
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|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 94 |
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OANDA provides traders the option to purchase actual delivered cryptocurrency and cryptocurrency derivatives, while FinecoBank does not offer these capabilities, focusing instead on other financial services.
Both OANDA and FinecoBank provide ACH and SEPA transfers as options for depositing and withdrawing account funds, while only OANDA supports additional payment methods such as PayPal, Skrill, and Visa or Mastercard, and both brokers offer bank wire transfers.
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 | OANDA | FinecoBank | |
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| Trust Score | 93 | 94 | |
| Winner | check_circle | ||
| Review | OANDA Review | FinecoBank Review |
| Broker Screenshots | OANDA | FinecoBank | |
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| Regulation | OANDA | FinecoBank | |
|---|---|---|---|
| Trust Score | 93 | 94 | |
| Year Founded | 1996 | 1999 | |
| Publicly Traded (Listed) | No | Yes | |
| Bank | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 2 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | OANDA | FinecoBank | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | OANDA | FinecoBank | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | OANDA | FinecoBank | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3928 | 9770 | |
| Forex Pairs (Total) | 68 | 54 | |
| U.S. Stock Trading (Non CFD) | No | Yes | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| Cryptocurrency (Physical) | Yes | No | |
| Cryptocurrency (Derivative) | Yes | No | |
| 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 | OANDA | FinecoBank | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.61 | N/A | |
| All-in Cost EUR/USD - Active | 1.61 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | No |
| Funding | OANDA | FinecoBank | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Visa/Mastercard (Credit/Debit) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | OANDA | FinecoBank | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | OANDA | FinecoBank | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 6 | N/A | |
| Charting - Indicators / Studies (Total) | 81 | 37 | |
| Charting - Drawing Tools (Total) | 431 | 7 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | FinecoBank | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 6 | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | OANDA | FinecoBank | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | FinecoBank | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | OANDA | FinecoBank | |
|---|---|---|---|
| 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 | |
| Review | OANDA Review | FinecoBank Review |
| Overall | OANDA | FinecoBank | |
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| Trust Score | 93 | 94 | |
| Winner | check_circle | ||
| Review | OANDA Review | FinecoBank Review |
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