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 | 1.69 | 1.3 |
| All-in Cost EUR/USD - Active | 1.69 | 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.
OANDA and RoboForex both support forex trading via CFDs or spot contracts. OANDA lists 4,172 tradeable symbols and 69 forex pairs, while RoboForex offers 8,400 symbols but only 28 forex pairs. For range of investments, ForexBrokers.com rates OANDA 4 stars (ranked #27 of 63) and RoboForex 4.5 stars (ranked #20). In short, RoboForex delivers more total instruments, whereas OANDA provides a wider selection of currency pairs.
When it comes to assets you can actually own, OANDA lets clients buy exchange-traded shares on both U.S. and international markets; RoboForex does not offer exchange-traded stocks. For crypto, OANDA supports buying actual coins as well as crypto derivatives, while RoboForex offers crypto derivatives only. Both brokers include copy trading.
| Feature |
OANDA
|
RoboForex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4172 | 8400 |
| Forex Pairs (Total) | 69 | 28 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | 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 OANDA and RoboForex, both brokers offer a variety of trading platforms and tools designed to enhance the trading experience for users of all levels. Both provide simulated trading through free virtual demo accounts, allowing newcomers to practice without financial risk. OANDA distinguishes itself with a proprietary platform developed in-house, whereas RoboForex does not. Both brokers, however, provide a Windows-based desktop platform and a web-based trading option, alongside support for MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Also, the ability to engage in copy trading is available with both brokers, though neither offers options like DupliTrade or ZuluTrade.
When it comes to technical tools, OANDA offers a more extensive suite with 74 drawing tools for charting, compared to RoboForex's 15. Both brokers allow trades to be executed directly from stock charts, catering to various trading strategies. Watch lists are customizable, with OANDA offering six columns and RoboForex seven. On a broader scale, both brokers receive a solid rating of four stars for their trading platforms and tools. However, according to ForexBrokers.com, OANDA ranks significantly higher at 15th place out of 63 brokers in this category, while RoboForex holds the 43rd spot. This indicates slight differences in user preference and platform performance.
| 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) | 89 | 30 |
| Charting - Drawing Tools (Total) | 74 | 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
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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) | |||
| 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) | |||
| 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) |
| Investments | OANDA | RoboForex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 4172 | 8400 | |
| Forex Pairs (Total) | 69 | 28 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | 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 | 1.69 | 1.3 | |
| All-in Cost EUR/USD - Active | 1.69 | 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) | 89 | 30 | |
| Charting - Drawing Tools (Total) | 74 | 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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