Written by ForexBrokers.com
In this head to head comparison of OANDA vs RoboForex, 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 RoboForex, founded in 2009, are online brokers that offer trading services without being publicly traded or operating as banks. OANDA stands out with a higher trust score of 93 according to ForexBrokers.com, reflecting its solid reputation in the trading community. This score is supported by its seven Tier-1 licenses, which are the most highly regarded licenses, indicating strong regulatory compliance and customer trust.
In comparison, RoboForex holds a Trust Score of 73, placing it at an average risk level. It is backed by one Tier-1 license, underscoring its commitment to following key regulatory standards, although it doesn't quite match OANDA in terms of perceived trust and security. Both brokers lack Tier-2 licenses, which are also considered trusted but less stringent. Overall, OANDA offers a higher level of assurance for traders concerned about regulation and trustworthiness.
| Feature |
OANDA
|
RoboForex
|
|---|---|---|
| Year Founded | 1996 | 2009 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
When comparing OANDA and RoboForex regarding commissions and fees, both platforms present distinct advantages and considerations. OANDA's primary selling point lies in its automated execution, though its forex trading costs are notably high. Offering both default and core pricing, OANDA sees an average spread of 1.61 pips on the EUR/USD pair as of July 2024, which is generally steeper compared to some top brokers. However, its core pricing, requiring a $10,000 deposit, offers lower spreads with an additional commission of $5 per $100,000 traded, bringing the all-in cost marginally below its commission-free option. With its Elite Trader program offering rebates and micro lot trading almost three orders of magnitude smaller than the usual size, OANDA facilitates diverse trading experiences. OANDA has a 4-star rating for commissions and fees and is ranked #34 out of 63 brokers by ForexBrokers.com.
RoboForex, on the other hand, displays higher average spreads of 1.3 pips for EUR/USD on its Procent and Pro accounts. This fee structure might seem less competitive relative to OANDA's core pricing when considering the streamlined options for high-volume traders available at OANDA. Despite this, some traders may prefer RoboForex for different investment strategies or lower deposit requirements. RoboForex holds a 3.5-star rating for commissions and fees and ranks #55 in comparison to 63 brokers according to ForexBrokers.com.
In summary, OANDA appears more appealing for traders interested in lower spread options with higher trading volumes, facilitated by its core pricing and automation benefits. Meanwhile, RoboForex remains a viable option for those who might prioritize other features beyond the commission structure. While OANDA leads in rankings and ratings, both platforms offer unique advantages depending on the specific needs of their traders.
| Feature |
OANDA
|
RoboForex
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.61 | 1.3 |
| All-in Cost EUR/USD - Active | 1.61 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| 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 investments they offer, OANDA and RoboForex present different strengths. Both brokers provide access to forex trading as either CFDs or spot contracts, making them suitable choices for those interested in currency markets. However, while OANDA features a more extensive selection of forex pairs, with 68 pairs compared to RoboForex's 28, RoboForex stands out by offering a significantly larger total of tradeable symbols — 8,400 in contrast to OANDA's 3,928. This wider range could appeal to traders who seek diversity in their trading activities. Notably, neither OANDA nor RoboForex gives users the option to invest in exchange-traded securities on U.S. or international exchanges, such as Apple or Vodafone shares.
For traders interested in cryptocurrencies, both platforms provide options, but with distinct features. OANDA allows the purchase of actual cryptocurrencies, offering flexibility for those looking to own digital assets directly, while RoboForex does not provide such an option. Conversely, both brokers support trading in cryptocurrency derivatives, catering to those interested in the speculative side. Additionally, both platforms offer copy trading, appealing to traders who wish to mirror the strategies of seasoned investors. Evaluating their range of investments, RoboForex receives a slightly higher rating of 4.5 stars compared to OANDA's 4 stars. On ForexBrokers.com, RoboForex ranks 20th out of 63 brokers for range of investments, while OANDA comes in at 27th, highlighting RoboForex's edge in providing a broader array of trading opportunities.
| Feature |
OANDA
|
RoboForex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3928 | 8400 |
| Forex Pairs (Total) | 68 | 28 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | Yes |
| 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). |
Dive deeper: Best Copy Trading Platforms.
When comparing the trading platforms and tools offered by OANDA and RoboForex, both brokers provide traders with the essential services needed to effectively engage in online trading. Both OANDA and RoboForex offer free virtual demo accounts, allowing users to practice and refine their strategies without financial risk. While OANDA boasts a proprietary platform developed in-house, RoboForex relies entirely on third-party solutions. Both brokers provide MetaTrader 4 (MT4) and MetaTrader 5 (MT5), as well as Windows-based desktop and web-based trading platforms. Whether you're interested in desktop or browser trading, OANDA and RoboForex have your needs covered.
OANDA excels with an astounding 431 drawing tools for charting, significantly more than the 15 offered by RoboForex. Despite this, both brokers allow trading directly from stock charts. For traders interested in managing their investments with detailed watch lists, RoboForex slightly edges out OANDA with 7 available columns against OANDA’s 6. On average, both brokers receive a 4-star rating for their trading platforms and tools, though OANDA holds a higher rank at #15 compared to RoboForex's #43 out of 63 brokers. This comparison highlights OANDA's strength in charting capabilities while RoboForex offers competitive features in other areas.
| Feature |
OANDA
|
RoboForex
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 81 | 30 |
| Charting - Drawing Tools (Total) | 431 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both OANDA and RoboForex provide powerful mobile trading apps for iPhone and Android users. They offer key features such as price alerts, the ability to draw trendlines, and view charts over various time frames. Additionally, both apps include 30 technical studies, support real-time watchlist updates, and save chart drawings automatically. However, the apps lack the ability to sync watchlists between mobile devices and online accounts.
In terms of user satisfaction, OANDA edges out RoboForex, receiving a five-star rating for its mobile app compared to RoboForex's four stars. Additionally, OANDA is ranked #7 out of 63 brokers on ForexBrokers.com for its mobile trading apps, while RoboForex is ranked #43. These ratings suggest that OANDA's app may offer a more refined user experience and hold a higher reputation in the industry compared to RoboForex.
| Feature |
OANDA
|
RoboForex
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing market research offerings between OANDA and RoboForex, both brokers provide daily market commentary and forex news from prestigious sources such as Bloomberg and Reuters. However, differences become apparent when examining specialized tools. OANDA features technical analysis tools from Autochartist, offering traders advanced patterns for market insight, and a sentiment-based trading tool for gauging market positions. Conversely, RoboForex does not provide these specific resources but compensates with tools from Trading Central and Acuity Trading, giving users access to Technical Analytics and Signal Centre for enhanced market analysis.
In terms of additional resources, both platforms offer economic calendars to track global events. Despite these offerings, OANDA stands out with a higher rating of 5 stars for market research, compared to RoboForex's 3.5 stars. In the competitive landscape of 63 brokers evaluated by ForexBrokers.com, OANDA achieves a commendable rank of #5 in the Research category, significantly ahead of RoboForex, which ranks at #37, highlighting OANDA's stronger position in providing comprehensive market research tools for traders.
| Feature |
OANDA
|
RoboForex
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners exploring the world of forex and CFDs trading, OANDA stands out as a comprehensive educational hub compared to RoboForex. OANDA provides a rich variety of over ten educational resources including articles, videos, and archived webinars focusing on forex and CFDs. In addition, they offer online webinars every month and maintain an easily navigable archive of past sessions, making it simple for learners to revisit topics at their convenience. Their commitment to beginner education is further highlighted by an extensive library of beginner-specific videos, alongside materials crafted for more advanced traders. To further support newcomers, OANDA includes an investor dictionary containing definitions for more than 50 essential trading terms.
By comparison, RoboForex's educational offerings fall short for those just starting out. This broker lacks sufficient educational pieces focused on forex and CFDs, providing fewer than ten resources in this area. Furthermore, RoboForex does not host regular client webinars or maintain an archive of previous webinars for learners to access. They also fall behind in offering beginner and advanced trading videos. Finally, without an investor dictionary, newcomers may find themselves needing to seek out basic terminology definitions elsewhere. As a result of these differences in educational support, OANDA is rated higher with 5 stars and ranks as the 22nd best for education, in contrast to RoboForex's 3.5-star rating and 56th place ranking by ForexBrokers.com.
| Feature |
OANDA
|
RoboForex
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| 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 RoboForex. OANDA finished with an overall rank of #12, while RoboForex finished with an overall rank of #46.
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
|
RoboForex
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 73 |
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OANDA allows users to purchase both actual cryptocurrencies and cryptocurrency derivatives, while RoboForex only offers the option to buy cryptocurrency derivatives, not the actual cryptocurrencies themselves.
OANDA and RoboForex both offer multiple options for depositing and withdrawing account funds, including ACH and SEPA transfers, PayPal, Skrill, Visa or Mastercard, and bank wires, providing flexibility and convenience for traders using either online broker.
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 | RoboForex | |
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| Trust Score | 93 | 73 | |
| Winner | check_circle | ||
| Review | OANDA Review | RoboForex Review |
| Broker Screenshots | OANDA | RoboForex | |
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| Regulation | OANDA | RoboForex | |
|---|---|---|---|
| Trust Score | 93 | 73 | |
| Year Founded | 1996 | 2009 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | OANDA | RoboForex | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| 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 | No | |
| 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 | RoboForex | |
|---|---|---|---|
| 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 | RoboForex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3928 | 8400 | |
| Forex Pairs (Total) | 68 | 28 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| 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). |
| Cost | OANDA | RoboForex | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.61 | 1.3 | |
| All-in Cost EUR/USD - Active | 1.61 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | OANDA | RoboForex | |
|---|---|---|---|
| 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 | Yes |
| Trading Platforms | OANDA | RoboForex | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | OANDA | RoboForex | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 81 | 30 | |
| Charting - Drawing Tools (Total) | 431 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | RoboForex | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | OANDA | RoboForex | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | RoboForex | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | OANDA | RoboForex | |
|---|---|---|---|
| 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 | RoboForex Review |
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| Trust Score | 93 | 73 | |
| Winner | check_circle | ||
| Review | OANDA Review | RoboForex Review |
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