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 it comes to OANDA, forex trading costs tend to be on the higher side, largely due to its steep spread costs that are comparable to brokers like FOREX.com and FxPro. OANDA offers two main pricing structures: default and core pricing. The average spread for non-core pricing on the EUR/USD pair was 1.61 pips in July 2024. However, with its core pricing, OANDA provides lower spreads and charges a per-side commission of $5 for every $100,000 currency traded, which might be more cost-effective if you meet the $10,000 minimum deposit requirement. The core pricing brings the all-in cost slightly better than commission-free pricing, with the total cost for a EUR/USD trade coming down to about 1.4 pips.
On the other hand, RoboForex has an average spread of 1.3 pips for the EUR/USD pair on its Procent and Pro accounts, which is notably high compared to the leading brokers. RoboForex's pricing structure may not offer the same type of dynamic options, like OANDA’s core pricing and detailed transparency reports.
In terms of ratings and rankings, OANDA holds a 4-star rating for its commissions and fees and ranks 34th out of 62 brokers according to ForexBrokers.com. Meanwhile, RoboForex has a 3.5-star rating and is placed at number 54 out of 62 brokers. These ratings provide a straightforward understanding of where each broker stands in terms of costs, with OANDA having a slight edge in both stars and rank over RoboForex.
| 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 comparing OANDA and RoboForex in terms of their available range of investments, both brokers offer forex trading via CFDs or spot contracts, giving investors access to the dynamic forex market. However, they vary significantly in the number of tradeable symbols and forex pairs. While OANDA provides 3,928 tradeable symbols and 68 forex pairs, RoboForex leads with a larger selection of 8,400 tradeable symbols but only 28 forex pairs. Neither platform offers direct exchange-traded securities from U.S. or international exchanges, meaning clients cannot purchase actual shares like Apple or Vodafone directly.
For investors interested in cryptocurrency, OANDA allows the purchase of actual crypto assets, unlike RoboForex, which confines itself to crypto derivatives. Both platforms support copy trading, enabling clients to mimic the strategies of successful traders. Given these options, RoboForex edges OANDA slightly overall, amassing a 4.5-star rating for its range of investments compared to OANDA's 4-star rating. As ranked by ForexBrokers.com, RoboForex also surpasses OANDA, coming in at 20th out of 62 brokers for its range of investments, whereas OANDA ranks 27th.
| 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.
OANDA and RoboForex both offer simulated trading with free virtual demo accounts, providing newcomers and experienced traders alike the opportunity to experiment with risk-free trades. OANDA stands out with its proprietary platform, developed in-house, offering a unique user experience. Both brokers support popular trading platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5) and have Windows-based and web-based trading platforms available. They also provide the ability to execute trades directly from stock charts. However, neither offers platforms like DupliTrade or ZuluTrade for social or copy trading.
When it comes to charting features, OANDA offers significantly more drawing tools compared to RoboForex, boasting 431 in contrast to RoboForex's 15, which may appeal to traders who rely heavily on technical chart analyses. Both offer similar levels of functionality for watch lists, with RoboForex allowing one more field than OANDA. Despite having similar ratings of 4 stars for their trading platforms and tools, OANDA ranks higher at 15th place compared to RoboForex’s 43rd in the ForexBrokers.com ranking of 62 brokers, suggesting a slight edge in overall user satisfaction and capabilities.
| 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.
When comparing the mobile trading apps of OANDA and RoboForex, both brokers offer iPhone and Android apps, ensuring accessibility for users across different devices. They both provide features such as stock and forex price alerts, enabling traders to stay on top of market movements. Each app also boasts 30 technical studies for charting and the ability to draw trendlines, which supports detailed analysis and strategy formulation. Both apps offer multiple time frame views and auto-save drawings on charts, helping traders to keep track of their strategies. While real-time quote watchlists are a feature of both apps, neither provides syncing of watchlists between the mobile app and online accounts.
Despite many similarities, user ratings highlight some differences. OANDA’s mobile app shines with a 5-star user rating and impressively ranks 7th out of 62 brokers on ForexBrokers.com. Meanwhile, RoboForex’s mobile app, though fully featured, holds a slightly lower 4-star rating and ranks 43rd. This suggests that, while both apps are equipped with necessary trading tools, OANDA is preferred by a greater number of users and experts for mobile trading. These ratings point to OANDA as a leading choice for those who prioritize a highly rated trading app experience.
| 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.
Both OANDA and RoboForex provide valuable daily market commentary and forex news from top-tier sources like Bloomberg and Reuters, ensuring traders stay informed about market developments. OANDA stands out with its sentiment-based trading tool, which reveals the ratio of long or short positions across currency pairs. RoboForex does not offer a similar tool but compensates with research tools from Acuity Trading, such as Signal Centre, and technical analysis tools from Trading Central. Meanwhile, OANDA features Autochartist tools for technical analysis, giving it a distinct edge for traders leaning towards that platform.
Both brokers offer access to an economic calendar to keep track of global news events. In terms of research quality, OANDA is rated higher with 5 stars and ranks 5th among 62 brokers according to ForexBrokers.com. RoboForex, while offering some unique tools, receives a lower rating of 3.5 stars and ranks 37th in the same category. These rankings highlight OANDA's superior research offerings, making it a more attractive option for traders who prioritize comprehensive market insights.
| 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.
When comparing the educational resources provided by OANDA and RoboForex, OANDA clearly stands out as a top choice for beginner traders. OANDA offers an extensive array of educational materials, including a minimum of 10 articles, videos, and webinars focused on forex and CFDs. Additionally, OANDA conducts monthly online educational webinars, which are also available in a searchable archive for convenient access. For those new to trading, OANDA provides over 10 beginner-focused educational videos, along with an investor dictionary that includes over 50 investing terms, making it easier for newcomers to understand complex financial jargon.
In contrast, RoboForex does not meet the same educational offerings and is limited in providing resources for beginners. RoboForex lacks the number of educational pieces, client webinars, archived webinar access, and educational videos for both beginner and advanced traders. As a result, it does not provide an investor dictionary for users seeking to build their trading vocabulary. Reflecting these differences, OANDA’s educational services receive a 5-star rating and rank #22 out of 62 brokers, while RoboForex is rated 3.5 stars for education and ranks #56. This comparison highlights OANDA's commitment to supporting new traders with comprehensive learning resources.
| 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 62 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 |
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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 |
| Overall | OANDA | RoboForex | |
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| Trust Score | 93 | 73 | |
| Winner | check_circle | ||
| Review | OANDA Review | RoboForex Review |
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