Written by ForexBrokers.com
In this head to head comparison of OANDA vs Plus500, 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.
When comparing online trading platforms OANDA and Plus500, it's clear that both companies offer strong regulatory frameworks, but with some distinctions. Founded in 1996, OANDA is a well-established entity but is not publicly traded. It holds seven Tier-1 licenses and has a ForexBrokers.com Trust Score of 93, signifying a high level of trust. On the other hand, Plus500 entered the market in 2008, is publicly traded, and possesses six Tier-1 licenses alongside three Tier-2 licenses, earning it an impressive Trust Score of 99 from ForexBrokers.com, indicating one of the highest levels of trust according to their standards.
Neither OANDA nor Plus500 operates as a bank, but both have built reputations as reliable brokers. OANDA's regulatory structure is limited to Tier-1 licenses, while Plus500 extends beyond Tier-1, incorporating a handful of Tier-2 licenses as well. This expanded regulatory coverage contributes to Plus500's slightly higher trust rating. While both brokers are generally viewed as safe and reputable options for trading, Plus500's status as a publicly listed company might give it added credibility in the eyes of some investors.
| Feature |
OANDA
|
Plus500
|
|---|---|---|
| Year Founded | 1996 | 2008 |
| Publicly Traded (Listed) | No | Yes |
| Bank | No | No |
| Tier-1 Licenses | 7 | 6 |
| Tier-2 Licenses | 0 | 3 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
When comparing the commissions and fees of online brokers OANDA and Plus500, several key differences emerge. OANDA is known for having relatively high forex trading costs, with its bid/ask spreads being on par with firms like FOREX.com and FxPro, though sometimes slightly higher. Its core pricing option, which features lower spreads at the cost of a $5 per-side commission per $100,000 traded, can offer a better value than its default pricing. OANDA also offers a unique offering with minimum trade sizes as low as 1 unit, compared to the standard micro lot, and provides rebates for high-volume traders in selected jurisdictions.
Plus500, on the other hand, presents pricing that is slightly above the industry average, making it not the most competitive option for active traders seeking the lowest costs. For EUR/USD trades, Plus500's average spread was 1.5 pips for April 2024. While it does not offer discounts to regular retail clients, Plus500 does provide cash rebates if the trader qualifies as a Professional client, similar to an active trader program.
In terms of ratings and rankings, both brokers earn a respectable score for commissions and fees, each rated at 4 out of 5 stars. However, Plus500 ranks higher in this category, placing 23rd out of 63 brokers on ForexBrokers.com, whereas OANDA stands at 34th. This ranking reflects Plus500's more favorable overall pricing structure when compared directly to OANDA.
| Feature |
OANDA
|
Plus500
|
|---|---|---|
| Minimum Deposit | $0 | €50 |
| Average Spread EUR/USD - Standard | 1.61 | 1.3 |
| All-in Cost EUR/USD - Active | 1.61 | 1.3 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing OANDA and Plus500, both platforms provide a versatile selection for forex enthusiasts, as each offers forex trading through CFDs and spot contracts. Nonetheless, Plus500 surpasses OANDA in offering a wider range of tradable symbols, boasting 5,500 compared to OANDA's 3,928. However, OANDA edges out slightly in forex pairs, providing 68 against Plus500's 65. While OANDA does not allow users to purchase exchange-traded securities like Apple shares or international stocks such as Vodafone, Plus500 does offer this option, granting traders more opportunities in the global market.
Alongside forex and stocks, the two brokers differ in their cryptocurrency options. OANDA supports the purchase of actual cryptocurrencies, not just derivatives, which Plus500 does not. When it comes to copy trading, OANDA offers this valuable feature to share strategies within a community, whereas Plus500 does not. Although both brokers share high ratings in their range of investments, Plus500 holds a marginally better reputation, rated at 4.5 stars over OANDA's 4 stars, and ranks higher in the Range of Investments by ForexBrokers.com, securing the 21st spot compared to OANDA's 27th among 63 brokers.
| Feature |
OANDA
|
Plus500
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3928 | 5500 |
| Forex Pairs (Total) | 68 | 65 |
| 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 | 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). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. |
Dive deeper: Best Copy Trading Platforms.
When it comes to trading platforms and tools, both OANDA and Plus500 offer unique features tailored to different types of traders. OANDA provides a variety of options, including a proprietary platform and access to popular third-party platforms like MetaTrader 4 and MetaTrader 5. It also allows for simulated trading through a free demo account and offers a Windows-based desktop application. In addition, OANDA supports copy trading, which is not available with Plus500. The platform is equipped with an impressive 431 drawing tools for charting, over 200 more than Plus500, offering traders a wider array of customization options for technical analysis. However, the inclusion of only six columns for watch lists may seem limited compared to Plus500's ten.
Plus500, on the other hand, emphasizes simplicity and accessibility with its web-based, proprietary trading platform that does not require a Windows download, appealing to those who prefer trading through a browser. While it lacks support for MetaTrader platforms and copy trading, it has been recognized for its trading tools, earning a half-star higher rating than OANDA and a higher ranking by ForexBrokers.com. Despite offering fewer drawing tools for chart analysis, the platform's straightforward interface and the ability to structure watch lists with more columns might benefit traders focused on ease of use and managing varied portfolios. Both brokers provide demo accounts, allowing users to explore and practice trading strategies without financial risk.
| Feature |
OANDA
|
Plus500
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| 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 | 115 |
| Charting - Drawing Tools (Total) | 431 | 36 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 6 | 10 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of OANDA and Plus500, both applications are available for iPhone and Android users, making them easily accessible for a range of traders. They provide essential features like stock and forex price alerts to keep traders updated on market movements. However, Plus500 edges ahead with convenient watchlist symbol syncing, allowing watchlists to automatically update between the mobile app and online accounts. In terms of charting, Plus500 offers a more extensive selection with 115 technical studies compared to OANDA's 30. Both apps support drawing trendlines and viewing various time frames on charts, but OANDA has the advantage of auto-saving chart drawings, which Plus500 does not.
Creating watchlists with real-time quotes is a feature available on both apps, catering to traders looking to monitor specific assets. OANDA receives higher praise with a 5-star rating in mobile trading apps, ranking #7 among 63 brokers on ForexBrokers.com. Meanwhile, Plus500 trails slightly with a 4.5-star rating and a #14 rank. These insights reflect the subtle distinctions in user experience and functionality that set these two brokers apart in the competitive world of mobile trading apps.
| Feature |
OANDA
|
Plus500
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 30 | 115 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to daily market insights, both OANDA and Plus500 offer quality commentary to keep traders informed. However, OANDA stands out by delivering forex news from renowned sources like Bloomberg and Reuters, giving its users a significant edge in accessing top-tier information. Conversely, Plus500 does not provide news from these elite sources. In terms of analysis tools, OANDA utilizes Autochartist, while Plus500 opts for tools from Trading Central. Both brokers supply a sentiment-based trading tool to track the direction of market positions, and each provides an economic calendar highlighting crucial global events.
Neither OANDA nor Plus500 offers research tools from TipRanks or Acuity Trading, leaving a gap in their resources. Despite this, OANDA excels with a research rating of five stars compared to Plus500's four stars. This rating is reflected in their respective rankings by ForexBrokers.com, with OANDA holding the impressive fifth position out of 63 brokers, while Plus500 ranks at 19th. This comparison reveals OANDA's advantage in offering a more comprehensive research experience for traders seeking superior market insights and analytical tools.
| Feature |
OANDA
|
Plus500
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
OANDA and Plus500 both cater to traders who are just starting out by providing a wealth of educational resources. Both platforms offer more than 10 educational pieces such as articles, videos, and archived webinars focusing on forex and CFDs, making sure newcomers have plenty of materials to dive into. Each broker hosts at least one webinar per month for their clients, which is great for direct learning experiences. Furthermore, OANDA and Plus500 maintain searchable archives of their past webinars, allowing users to catch up on missed sessions or revisit important topics. Aimed specifically at novices, both brokers feature at least 10 educational videos that cover the essentials of trading.
For those delving into advanced levels of trading, both OANDA and Plus500 offer over 10 videos tailored for experienced traders. However, a notable distinction exists in the provision of an investor dictionary. OANDA provides a dictionary with definitions of at least 50 investing terms, a feature that Plus500 lacks. As a reflection of their educational offerings, OANDA is rated five stars for education and is ranked 22nd among 63 brokers by ForexBrokers.com. Plus500, on the other hand, earns a four-star rating and is ranked 31st. These ratings highlight OANDA's slight edge in educational support for users exploring the world of online trading.
| Feature |
OANDA
|
Plus500
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that OANDA is better than Plus500. OANDA finished with an overall rank of #12, while Plus500 finished with an overall rank of #14.
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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Plus500
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 99 |
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OANDA allows investors to buy actual delivered cryptocurrency as well as cryptocurrency derivatives, whereas Plus500 only provides the option to trade cryptocurrency derivatives and does not offer the purchase of actual delivered cryptocurrency.
Both OANDA and Plus500 support Visa, Mastercard, PayPal, Skrill, and bank wire transactions for depositing and withdrawing funds, but OANDA uniquely offers ACH and SEPA transfers, which are not available with Plus500.
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 | Plus500 | |
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| Trust Score | 93 | 99 | |
| Winner | check_circle | ||
| Review | OANDA Review | Plus500 Review |
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| Regulation | OANDA | Plus500 | |
|---|---|---|---|
| Trust Score | 93 | 99 | |
| Year Founded | 1996 | 2008 | |
| Publicly Traded (Listed) | No | Yes | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 6 | |
| Tier-2 Licenses | 0 | 3 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | OANDA | Plus500 | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | Yes | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | OANDA | Plus500 | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | Yes | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | OANDA | Plus500 | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3928 | 5500 | |
| Forex Pairs (Total) | 68 | 65 | |
| 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 | 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). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. |
| Cost | OANDA | Plus500 | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.61 | 1.3 | |
| All-in Cost EUR/USD - Active | 1.61 | 1.3 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | OANDA | Plus500 | |
|---|---|---|---|
| Minimum Deposit | $0 | €50 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | OANDA | Plus500 | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| 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 | Plus500 | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 10 | |
| Charting - Indicators / Studies (Total) | 81 | 115 | |
| Charting - Drawing Tools (Total) | 431 | 36 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | Plus500 | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 115 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | OANDA | Plus500 | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | Plus500 | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | OANDA | Plus500 | |
|---|---|---|---|
| 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 | Plus500 Review |
| Overall | OANDA | Plus500 | |
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| Trust Score | 93 | 99 | |
| Winner | check_circle | ||
| Review | OANDA Review | Plus500 Review |
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