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 | 1 |
When comparing the commissions and fees of online brokers OANDA and Plus500, OANDA generally exhibits higher forex trading costs, with effective spreads that are steeper than those of the top brokers. OANDA's advantage lies in its automated execution across its accounts. Typical spreads are similar to FOREX.com and FxPro, though often slightly higher than brokers advertising sub-pip spreads. For instance, the average non-core pricing was 1.61 pips on the EUR/USD in July 2024. OANDA’s core pricing includes a lower spread but adds a commission of $5 for every $100,000 in currency, translating to about $10 per standard lot. This approach can result in a total cost of 1.4 pips on the EUR/USD, offering slightly better value than its default pricing. OANDA is rated 4 stars in commissions and fees and ranks #34 out of 63 brokers according to ForexBrokers.com.
Plus500's pricing appears slightly above the industry average, particularly when compared to leading forex brokers focused on active trader pricing, like IG or Saxo. While discounts aren't available to retail clients, Plus500 does provide cash rebates for those qualifying as Professional clients. The average spread for the EUR/USD pair was 1.5 pips in April 2024, which is above the industry norm. Plus500 similarly holds a 4-star rating in commissions and fees, though its ranking is slightly better at #25 out of 63 brokers according to ForexBrokers.com.
While both brokers earn a 4-star rating, Plus500's fees are generally marginally better suited for the average trader, but neither broker ranks among the top performers for commissions and fees. Each offers a unique structure and potential benefits depending on trading volume and client qualification, such as OANDA's Elite Trader program rebates and Plus500’s Professional client rebates.
| Feature |
OANDA
|
Plus500
|
|---|---|---|
| Minimum Deposit | $0 | €100 |
| Average Spread EUR/USD - Standard | 1.61 | 1.5 |
| All-in Cost EUR/USD - Active | 1.61 | 1.5 |
| 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 it comes to the variety of investment opportunities, both OANDA and Plus500 cater to diverse trading preferences, but there are distinct differences. OANDA offers forex trading through both CFDs and spot contracts, providing access to 68 forex pairs along with the ability to purchase actual cryptocurrencies. Meanwhile, Plus500 also allows forex trading via CFDs, offering 65 forex pairs. Notably, Plus500 provides broader exposure with 5,500 tradeable symbols, surpassing OANDA’s 3,928 symbols. While OANDA does not support the trading of exchange-traded securities from U.S. or international exchanges, Plus500 enables investors to trade well-known stocks like Apple and Vodafone, giving it a broader securities reach. Furthermore, OANDA supports copy trading, a feature not available with Plus500.
In terms of cryptocurrency, OANDA offers both actual and derivative trading options, whereas Plus500 focuses solely on cryptocurrency derivatives. Evaluating their range of investments, OANDA holds a respectable 4-star rating, while Plus500 slightly edges out with a 4.5-star rating. According to ForexBrokers.com, Plus500 ranks higher at #24, with OANDA not far behind at #27, out of 63 brokers evaluated. This comparison highlights Plus500's extensive tradeable symbols and broader securities availability as determining factors in its slightly higher ranking and rating for investment range. However, OANDA’s options for buying actual cryptocurrencies and support for copy trading make it a viable choice depending on individual investment strategies.
| 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 their unique strengths, making them popular choices for online traders. OANDA provides a proprietary trading platform that can be accessed on Windows-based desktops and web browsers, offering great flexibility for its users. It supports simulated trading with a free virtual demo account, allowing users to hone their skills without financial risk. OANDA also caters to those looking for MetaTrader support, offering both MT4 and MT5 platforms. With 431 drawing tools available for charting, OANDA facilitates comprehensive technical analysis. Additionally, it includes features such as copy trading and allows trading directly from stock charts, providing a versatile trading experience despite having a watch list with fewer columns compared to competitors. It is rated 4 stars for its trading platform tools and ranks #15 out of 63 brokers, according to ForexBrokers.com.
Plus500, on the other hand, offers a sleek proprietary web-based trading platform and also allows for simulated trading through a complimentary demo account. While it doesn't provide a Windows-based desktop download or MetaTrader support, Plus500 is renowned for its ease of use and accessibility directly within the browser. It features 22 drawing tools and excels in customization with its watch lists, offering up to 10 fields for monitoring essential data. Despite lacking features like copy trading and the ability to trade directly from charts, Plus500 stands out with its high user ratings for tools and platform usability, boasting an impressive 4.5-star rating. Ranked slightly higher than OANDA, Plus500 holds the #14 spot out of 63 brokers in the Trading Platforms and Tools category on ForexBrokers.com.
| 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 | 114 |
| Charting - Drawing Tools (Total) | 431 | 22 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 6 | 10 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing mobile trading apps, OANDA and Plus500 both offer iPhone and Android apps, enabling users to trade on the go. They provide stock and forex price alerts and allow drawing trendlines on charts. Users can also view multiple time frames for better analysis. Creating watchlists with real-time quotes is easy on both platforms. However, Plus500 features watchlist symbol syncing, allowing seamless updates between the mobile app and online accounts, a feature not available on OANDA.
OANDA stands out with auto-saving drawings on charts, keeping your annotations intact. While Plus500 offers an impressive 110 technical studies, OANDA provides 30, sufficient for many traders. Both apps are highly rated, with OANDA receiving a perfect 5-star rating for its mobile app compared to Plus500's strong 4.5 stars. Ranked #7 out of 63 brokers by ForexBrokers.com, OANDA leads ahead of Plus500, which is ranked #14. Both apps deliver quality, but OANDA's automatic chart-saving feature and higher broker ranking might make it more appealing to those who value these aspects.
| 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 | 110 |
| 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
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|---|---|---|
| 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 | 1 |
| 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) | No | No | |
| 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) | No | No | |
| 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) | No | No |
| 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 | 1.5 | |
| All-in Cost EUR/USD - Active | 1.61 | 1.5 | |
| 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 | €100 | |
| 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 | 114 | |
| Charting - Drawing Tools (Total) | 431 | 22 | |
| 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 | 110 | |
| 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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