Written by ForexBrokers.com
In this head to head comparison of Plus500 vs OANDA, 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.
Plus500 and OANDA are both well-known online brokers, but their profiles differ in a few key ways. Plus500 was founded in 2008, is publicly traded, and is not a bank, while OANDA was founded in 1996, is privately held, and is also not a bank.
On regulation, both brokers hold 7 Tier-1 licenses, which ForexBrokers.com considers highly trusted. Plus500 also holds 4 Tier-2 licenses, compared with none for OANDA, which helps explain why Plus500 earns a Trust Score of 99 out of 99 versus OANDA’s 92 out of 99. Based on ForexBrokers.com’s scale, both are in the highly trusted range, with Plus500 edging ahead overall.
| Feature |
Plus500
|
OANDA
|
|---|---|---|
| Year Founded | 2008 | 1996 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 7 |
| Tier-2 Licenses | 4 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
When comparing commissions and fees, Plus500 is the cheaper of the two overall, though its pricing is still a little above the industry average. Plus500 does not offer retail discounts, but some Professional clients may qualify for cash rebates. Its EUR/USD spread averaged 1.5 pips in April 2024, which is higher than many top forex brokers. Plus500 is rated 4.0 stars and ranked #25 out of 36 for Commissions and Fees by ForexBrokers.com.
OANDA’s trading costs are generally higher, with spreads that can be steep on both its default and core pricing plans. On its standard account, OANDA’s EUR/USD average spread was 1.61 pips in July 2024. Its Core Pricing account can lower spreads, but it adds a commission of $5 per $100,000 traded per side, and it requires a $10,000 minimum deposit. OANDA does stand out for very small trade sizes, active trader rebates in select regions, and clear spread reporting. OANDA is rated 4 stars and ranked #31 out of 36 for Commissions and Fees.
In simple terms, Plus500 offers slightly better pricing than OANDA for most retail forex traders, while OANDA may appeal more to active traders who can use its rebate program or need tiny trade sizes. Both brokers sit behind the best low-cost forex options, but Plus500 has the edge on fees in this comparison.
| Feature |
Plus500
|
OANDA
|
|---|---|---|
| Minimum Deposit | €50 | $0 |
| Average spread (EUR/USD) - Spread-only account | 1.3 | 1.68 |
| All-in Cost EUR/USD - Raw spread account | 1.3 | 1.69 |
| Non-wire bank transfer (Deposit/Withdraw) | No | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to range of investments, Plus500 and OANDA both give traders access to forex, U.S. exchange-listed shares, international shares, and cryptocurrency CFDs. Plus500 offers more total tradeable symbols overall, with 5,500 available compared with OANDA’s 4,172. That makes Plus500 a stronger pick for investors who want a wider menu of markets to choose from. However, OANDA edges ahead in forex pairs, offering 69 versus Plus500’s 65, which may matter more for traders focused mainly on currency markets.
There are also some key differences in features. OANDA supports copy trading and lets customers buy actual cryptocurrency, while Plus500 does not offer either option. Both brokers allow cryptocurrency CFDs, but only OANDA provides direct crypto ownership. In independent ratings, both brokers score 4.5 out of 5 for Range of Investments, though ForexBrokers.com ranks Plus500 slightly higher overall in this category, at #16 out of 36, compared with OANDA at #20.
| Feature |
Plus500
|
OANDA
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5500 | 4172 |
| Forex Pairs (Total) | 65 | 69 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | No | Yes |
| Cryptocurrency (Underlying) | No | Yes |
| Cryptocurrency (CFDs) | 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). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. | 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.
Plus500 and OANDA both give traders a free demo account, a web-based platform, and their own in-house trading platform, so each offers a simple way to get started and practice before using real money. In this category, Plus500 earns a slight edge on ratings and rankings, with 4.5 out of 5 stars and a ForexBrokers.com rank of #14 out of 36, compared with OANDA’s 4 stars and #16 ranking.
Where OANDA stands out is with more platform choices and extra tools. OANDA offers a Windows desktop app, copy trading, MetaTrader 4, MetaTrader 5, and the ability to place trades directly from a chart, while Plus500 does not. For traders who want a broader set of platform features and more advanced trading tools, OANDA may be the better fit, while Plus500 may appeal to those who prefer a more streamlined web-based experience.
| Feature |
Plus500
|
OANDA
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 115 | 89 |
| Charting - Trade From Chart | No | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Plus500 and OANDA both offer mobile trading apps for iPhone and Android, and each includes price alerts plus the ability to draw trendlines on charts. That means traders can monitor markets and mark key levels while on the go. Plus500 goes further on chart tools, offering 115 technical studies in its app compared with OANDA’s 30, which may appeal to traders who want more charting choices from their phone.
There are also a few differences in how the apps handle everyday use. Plus500 supports watchlist syncing, so changes made in the mobile app and online account stay aligned, while OANDA does not. OANDA does, however, auto-save chart drawings, which Plus500 does not. In independent ratings, OANDA scores higher for mobile trading apps at 5 stars and ranks #7 out of 36 brokers, while Plus500 earns 4.5 stars and ranks #14.
| Feature |
Plus500
|
OANDA
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 115 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | No | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, both Plus500 and OANDA give traders useful everyday tools like daily market commentary, a sentiment indicator showing long and short positioning, and an economic calendar for tracking major global events. Each platform helps users stay on top of price-moving news and market mood, making both solid choices for basic research needs.
The bigger difference is in the depth of research content. OANDA stands out with forex news from major sources like Reuters and Bloomberg, plus Autochartist tools for technical and fundamental analysis. Plus500, on the other hand, offers Trading Central research tools instead. In independent ForexBrokers.com ratings, OANDA leads with 5 stars for Research and a #4 ranking out of 36 brokers, while Plus500 scores 4.5 stars and ranks #16, giving OANDA the edge overall for market research.
| Feature |
Plus500
|
OANDA
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | Yes |
| Trading Central | Yes | No |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to beginner-friendly learning, both Plus500 and OANDA give new traders a solid starting point. Each broker offers forex or CFD education with at least 10 learning pieces, plus online educational webinars at least once a month. They also both provide 10 or more beginner videos and 10 or more advanced videos, so users can move from basic trading ideas to more experienced topics over time.
That said, OANDA has the edge in overall education quality. It is rated 5 out of 5 stars for Education and is ranked #18 out of 36 brokers by ForexBrokers.com, while Plus500 is rated 4.5 out of 5 stars and ranked #27. For beginners comparing online brokers, both platforms offer plenty of learning material, but OANDA appears to deliver a slightly stronger education experience overall.
| Feature |
Plus500
|
OANDA
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Plus500 is better than OANDA. Plus500 finished with an overall rank of #11, while OANDA finished with an overall rank of #14.
Plus500 is a trusted global brand that offers an easy-to-use trading platform for online traders, alongside access to a thorough selection of CFDs. Share trading is available, but only via its Plus500 Invest product offering.
| Feature |
Plus500
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OANDA
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 92 |
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When comparing online brokers Plus500 and OANDA, OANDA stands out for offering the ability to buy actual delivered cryptocurrency, while both Plus500 and OANDA provide access to cryptocurrency CFDs for trading without owning the underlying asset.
When comparing Plus500 vs OANDA, both brokers support PayPal, Skrill, and bank wire transfers for deposits and withdrawals, but only OANDA offers ACH or SEPA transfers, giving it a broader range of funding options.
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 | Plus500 | OANDA | |
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| Trust Score | 99 | 92 | |
| Winner | check_circle | ||
| Review | Plus500 Review | OANDA Review |
| Broker Screenshots | Plus500 | OANDA | |
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| Regulation | Plus500 | OANDA | |
|---|---|---|---|
| Trust Score | 99 | 92 | |
| Year Founded | 2008 | 1996 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 7 | |
| Tier-2 Licenses | 4 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | Plus500 | OANDA | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | Yes | Yes | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | Yes | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Plus500 | OANDA | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | Yes | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | No | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) |
| Investments | Plus500 | OANDA | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5500 | 4172 | |
| Forex Pairs (Total) | 65 | 69 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | No | Yes | |
| Cryptocurrency (Underlying) | No | Yes | |
| Cryptocurrency (CFDs) | 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). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. | 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 | Plus500 | OANDA | |
|---|---|---|---|
| Average spread (EUR/USD) - Spread-only account | 1.3 | 1.68 | |
| All-in Cost EUR/USD - Raw spread account | 1.3 | 1.69 | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Plus500 | OANDA | |
|---|---|---|---|
| Minimum Deposit | €50 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer (Deposit/Withdraw) | No | Yes |
| Trading Platforms | Plus500 | OANDA | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No |
| Trading Tools | Plus500 | OANDA | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 115 | 89 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Plus500 | OANDA | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 115 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | No | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Plus500 | OANDA | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | Yes | |
| Trading Central | Yes | No | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Plus500 | OANDA | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | Plus500 | OANDA | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | Plus500 Review | OANDA Review |
| Overall | Plus500 | OANDA | |
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| Trust Score | 99 | 92 | |
| Winner | check_circle | ||
| Review | Plus500 Review | OANDA Review |
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