Written by ForexBrokers.com
In this head to head comparison of OANDA vs Spreadex, 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 Spreadex, founded in 1999, are both respected players in the online brokerage sector. Neither of these companies is publicly traded or operates as a bank, but they differ significantly in their regulatory standings. OANDA holds a strong position with seven Tier-1 licenses, guiding it to a Trust Score rating of 93 from ForexBrokers.com, making it a highly trusted choice for traders. In contrast, Spreadex has one Tier-1 license and a Trust Score of 71, which places it in the average risk category according to the same rating system.
Despite their different levels of regulatory credentials, both OANDA and Spreadex provide reliable services, but OANDA’s higher Trust Score and number of Tier-1 licenses might appeal more to those who prioritize regulatory oversight and corporate trustworthiness. Both companies offer unique strengths, but potential clients might lean towards OANDA for greater peace of mind due to its strong regulatory position.
| Feature |
OANDA
|
Spreadex
|
|---|---|---|
| Year Founded | 1996 | 1999 |
| 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 | 0 |
Comparing commissions and fees, Spreadex generally looks cheaper than OANDA for popular forex pairs. Spreadex averaged 0.81 pips on EUR/USD in January 2024 and hit a 0.6-pip minimum 60% of the time. OANDA’s costs tend to be higher: its average non-core spread on EUR/USD was 1.61 pips in July 2024. Despite the cost gap, both earn 4 stars for commissions and fees; Spreadex ranks #28 of 63, while OANDA ranks #35 of 63.
OANDA offers two pricing paths. The default (commission-free) pricing had that 1.61-pip EUR/USD average in July 2024. Its “core pricing” lowers the spread but adds a commission of $5 per side per $100,000 traded ($10 round turn) and requires a $10,000 minimum deposit. Using a simple example: if the default spread is 1.6 pips and core spread is 0.4 pips, adding the commission (about 1 pip round trip) puts core all-in at roughly 1.4 pips—slightly cheaper than default. OANDA also lets you trade in tiny sizes (down to 1 unit) and offers volume rebates of $5–$17 per million traded for eligible high-volume clients, plus potential TradingView subscription reimbursements.
On transparency, OANDA publishes trailing averages for spreads across many time frames, but not a fixed monthly or daily average, which can make exact comparisons tricky. By contrast, Spreadex reported specific monthly averages and how often its minimum spread was available. Bottom line: both are rated 4 stars, but Spreadex (#28/63) has the edge on typical spread costs versus OANDA (#35/63), while OANDA provides flexible trade sizes and a path to slightly lower all-in costs if you qualify for core pricing.
| Feature |
OANDA
|
Spreadex
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.69 | 0.81 |
| All-in Cost EUR/USD - Active | 1.69 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
OANDA and Spreadex both support forex trading as CFDs or spot contracts, but their lineups differ. Spreadex lists more total tradeable symbols (10,000) than OANDA (4,172), while OANDA offers more forex pairs (69 vs 52). Only OANDA provides exchange-traded shares on U.S. and international exchanges (not CFDs), along with copy trading and the ability to buy actual cryptocurrency; Spreadex does not offer these, though both brokers let you trade crypto derivatives.
For range of investments, ForexBrokers.com rates OANDA 4 stars (ranked #28 of 63) and Spreadex 5 stars (ranked #14 of 63). Choose Spreadex if you want the largest overall number of instruments, or go with OANDA if you prefer more forex pairs plus access to real shares, copy trading, and delivered crypto.
| Feature |
OANDA
|
Spreadex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4172 | 10000 |
| Forex Pairs (Total) | 69 | 52 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| 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). |
Dive deeper: Best Copy Trading Platforms.
Comparing OANDA vs Spreadex for trading platforms and tools: both brokers provide free demo (paper) trading and their own proprietary platforms. OANDA offers a Windows desktop platform in addition to a web platform, while Spreadex focuses on a web-based platform only. If you need MetaTrader, OANDA supports both MetaTrader 4 (MT4) and MetaTrader 5 (MT5); Spreadex does not support either. OANDA also offers copy trading, whereas Spreadex does not. Neither broker supports DupliTrade or ZuluTrade.
For charting, both let you place trades directly from the chart. OANDA supplies 74 drawing tools compared with 11 at Spreadex, while Spreadex offers more watchlist fields (8 vs 6 for OANDA). According to ForexBrokers.com, both earn 4 out of 5 stars for Trading Platforms and Tools, with OANDA ranked 15th out of 63 brokers and Spreadex ranked 47th. In short, choose OANDA if you want a Windows desktop app, MT4/MT5, and copy trading; pick Spreadex if a web-only setup with more watchlist fields suits you.
| Feature |
OANDA
|
Spreadex
|
|---|---|---|
| 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) | 89 | 58 |
| Charting - Drawing Tools (Total) | 74 | 11 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 8 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
OANDA and Spreadex both offer mobile trading apps for iPhone and Android, along with price alerts and real-time quote watchlists. One limitation they share is that watchlists created on mobile don’t sync with the online account.
For charting, OANDA provides 30 technical studies, lets you draw trendlines, switch between multiple time frames, and automatically saves your drawings. Spreadex also supports trendlines and multiple time frames, but it doesn’t auto-save drawings and doesn’t list a specific number of studies. In independent ratings, OANDA earns 5 stars and ranks #7 out of 63 brokers for Mobile Trading Apps on ForexBrokers.com, while Spreadex earns 4 stars and ranks #47. OANDA suits traders who want more built-in tools and a higher-rated mobile experience; Spreadex covers the basics for on-the-go trading.
| Feature |
OANDA
|
Spreadex
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| 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.
OANDA and Spreadex both check the key boxes for market research. Each offers daily market commentary, forex news from top-tier sources like Bloomberg and Reuters, Autochartist tools for trade ideas, a sentiment tool that shows the ratio of long vs. short positions, and an economic calendar. Neither broker includes Trading Central, TipRanks, or Acuity Trading research.
The main difference is overall quality. According to ForexBrokers.com, OANDA earns 5 stars for Research and ranks #4 out of 63 brokers, while Spreadex holds 4 stars and ranks #32. Based on that assessment, OANDA stands out if you want higher-rated research, whereas Spreadex is a solid choice if you just need the essentials with Autochartist and sentiment data.
| Feature |
OANDA
|
Spreadex
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | No |
| 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.
If you’re new to trading, both OANDA and Spreadex provide starter education on forex and CFDs, including more than ten learning pieces and a dictionary of 50+ investing terms. Each also offers at least ten beginner-friendly videos. OANDA goes further with live client webinars every month and a searchable library of past sessions, plus a larger set of advanced videos for when you’re ready to level up. Spreadex does not run regular webinars or keep an archive, and its advanced video catalog is smaller, but it still covers the basics well.
Independent ratings reflect this gap: for Education, OANDA earns 5 stars and ranks #19 out of 63 brokers at ForexBrokers.com, while Spreadex earns 4 stars and ranks #45. Choose OANDA if you want ongoing classes, recorded lessons you can search, and content that supports you from beginner to advanced; pick Spreadex if you mainly want straightforward beginner videos and a handy dictionary.
| Feature |
OANDA
|
Spreadex
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
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 Spreadex. OANDA finished with an overall rank of #12, while Spreadex finished with an overall rank of #39.
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
|
Spreadex
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 93 | 71 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
In comparing online brokers, OANDA allows users to buy both actual cryptocurrencies and cryptocurrency derivatives, whereas Spreadex only offers the ability to purchase cryptocurrency derivatives, not the actual digital currencies themselves.
When comparing online brokers OANDA and Spreadex, OANDA provides more flexible funding options, supporting ACH, SEPA transfers, PayPal, and Skrill along with Visa, Mastercard, and bank wires, whereas Spreadex only accepts Visa, Mastercard, and bank wires for deposits and withdrawals.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | OANDA | Spreadex | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 93 | 71 | |
| Winner | check_circle | ||
| Review | OANDA Review | Spreadex Review |
| Broker Screenshots | OANDA | Spreadex | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
|
| Regulation | OANDA | Spreadex | |
|---|---|---|---|
| Trust Score | 93 | 71 | |
| Year Founded | 1996 | 1999 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 7 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | OANDA | Spreadex | |
|---|---|---|---|
| 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 | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | OANDA | Spreadex | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | OANDA | Spreadex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 4172 | 10000 | |
| Forex Pairs (Total) | 69 | 52 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| 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). |
| Cost | OANDA | Spreadex | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.69 | 0.81 | |
| All-in Cost EUR/USD - Active | 1.69 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | OANDA | Spreadex | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | OANDA | Spreadex | |
|---|---|---|---|
| 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 | Spreadex | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 8 | |
| Charting - Indicators / Studies (Total) | 89 | 58 | |
| Charting - Drawing Tools (Total) | 74 | 11 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | Spreadex | |
|---|---|---|---|
| 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 | N/A | |
| 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 | Spreadex | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | Spreadex | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | OANDA | Spreadex | |
|---|---|---|---|
| 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 | Spreadex Review |
| Overall | OANDA | Spreadex | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 93 | 71 | |
| Winner | check_circle | ||
| Review | OANDA Review | Spreadex Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill