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 |
When comparing OANDA and Spreadex in terms of commissions and fees, both brokers receive a four-star rating, though they display differences in their pricing structures and overall costs. OANDA is known for its substantial spreads in forex trading, which are higher compared to top competitors in the industry. Despite the higher costs, OANDA offers automated execution across its account types, appealing to tech-savvy traders. Its core pricing provides lower spreads but charges a commission of $5 per $100,000 traded, potentially offering slightly better costs than its commission-free option, assuming a $10,000 minimum deposit is met. OANDA's unique selling point is its minimal trade size—down to a single unit—and its rebate offerings for high-volume traders, as well as its effort to maintain transparency in pricing.
In contrast, Spreadex offers tighter spreads with its typical spread for the EUR/USD pair at just 0.81 pips, and a minimum spread of 0.6 pips available more than half the time over a month. This pricing structure indicates lower costs for traders when compared to OANDA's non-core pricing. Although both brokers share the same four-star rating for commissions and fees, Spreadex ranks higher in this category at #27 out of 63 brokers, in comparison to OANDA's #34 ranking. This suggests a generally more favorable view of Spreadex’s fee structure among industry reviews.
In summary, while OANDA boasts features like automated execution and flexible trade sizes, its higher effective spread and commission costs make it less competitive in terms of overall pricing compared to Spreadex. Traders seeking tighter spreads and a higher-ranked commission and fees offering may find Spreadex to be a more cost-effective choice.
| Feature |
OANDA
|
Spreadex
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.61 | 0.81 |
| All-in Cost EUR/USD - Active | 1.61 | 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.
When exploring the investment options provided by OANDA and Spreadex, investors will find diverse offerings suited to different trading needs. OANDA provides access to forex trading through CFDs and spot contracts, with an impressive 68 forex pairs available. Traders can explore a broader array of 3,928 tradeable symbols, offering various opportunities in the market. Additionally, OANDA provides the unique feature of buying actual cryptocurrency alongside its derivatives. They also support copy trading for those interested in mimicking successful strategies. Despite its comprehensive offerings, OANDA does not offer exchange-traded securities on either U.S. or international exchanges. It holds a commendable 4-star rating for its range of investments and is placed 27th among 63 brokers by ForexBrokers.com.
Spreadex, on the other hand, extends a wider selection with 10,000 tradeable symbols, though it offers fewer forex pairs at 52. Like OANDA, it facilitates forex trading via CFDs and spot contracts. Spreadex caters to crypto enthusiasts by allowing trades in cryptocurrency derivatives, but it does not provide options to own actual cryptocurrencies. However, unlike OANDA, Spreadex does not offer copy trading features. Both brokers do not engage in trading traditional shares on either U.S. or international exchanges. With a stellar 5-star rating, Spreadex ranks significantly higher in the range of investments at 13th position, showcasing a robust offering suitable for traders seeking a wide array of symbolic assets.
| Feature |
OANDA
|
Spreadex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3928 | 10000 |
| Forex Pairs (Total) | 68 | 52 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | 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.
When comparing OANDA to Spreadex, both offer free virtual demo accounts, allowing traders to practice trading without financial risk. Each broker has developed their own proprietary platforms to cater to their unique clientele. OANDA stands out with its availability of a Windows-based desktop download platform, while Spreadex does not provide this option. Both brokers, however, offer convenient web-based trading platforms accessible via a browser. For those interested in copy trading, OANDA provides this feature, whereas Spreadex does not. Additionally, OANDA supports advanced platforms like MetaTrader 4 and MetaTrader 5, options not available with Spreadex. Both brokers do not offer DupliTrade or ZuluTrade capabilities.
Regarding trading tools, OANDA provides 431 drawing tools for charting, significantly more than Spreadex's 11. Both allow trades directly from stock charts, enhancing user interaction. While Spreadex edges out OANDA in the number of columns for watch lists with eight compared to OANDA’s six, both brokers receive four-star ratings for their trading platforms and tools. Yet, in overall rankings by ForexBrokers.com, OANDA is placed higher at 15th out of 63, compared to Spreadex's 46th rank, indicating broader recognition within the industry for its platform offerings.
| 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) | 81 | 58 |
| Charting - Drawing Tools (Total) | 431 | 11 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 8 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both OANDA and Spreadex provide solid options for traders with iPhone and Android compatibility. Each app supports essential features like price alerts and the ability to draw trendlines on charts. Both platforms also allow you to view multiple time frames, making it easier to analyze market trends. However, OANDA shines with its robust offering of 30 technical studies for charting, while Spreadex does not specify a comparable feature. Furthermore, OANDA's app autosaves chart drawings, an advantage over Spreadex, which lacks this functionality. Despite both lacking watchlist symbol syncing, they do offer real-time watchlists.
In terms of user ratings and industry rankings, OANDA stands out with a 5-star rating for its mobile trading app and holds the 7th position out of 63 brokers according to ForexBrokers.com. Spreadex, while commendable with a 4-star rating, ranks at number 46. This distinction suggests that OANDA may provide a more comprehensive mobile trading experience, particularly for those looking for advanced charting capabilities and higher app satisfaction. Whether you're a beginner or a seasoned trader, OANDA's mobile app offers features that cater well to active trading needs.
| 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.
When comparing OANDA and Spreadex for market research offerings, both brokers provide daily market commentary and forex news from notable sources like Bloomberg and Reuters. They also feature tools from Autochartist for technical and fundamental analysis, as well as a sentiment-based trading tool to assess trading positions. However, neither broker offers tools from Trading Central, TipRanks, or Acuity Trading. Additionally, both OANDA and Spreadex include an economic calendar for tracking important global economic events.
Despite offering similar research tools and resources, OANDA surpasses Spreadex with a higher overall research rating of 5 stars compared to Spreadex's 4 stars. This distinction is further highlighted by OANDA's impressive ranking as #5 out of 63 brokers according to ForexBrokers.com, whereas Spreadex occupies the #31 spot. This suggests that while both platforms provide valuable market insights, OANDA is recognized for delivering a more comprehensive research experience.
| 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.
When comparing the educational resources available to beginners from online brokers OANDA and Spreadex, both platforms provide a variety of educational materials aimed at forex and CFD traders. OANDA excels with a wealth of educational resources, including a minimum of 10 educational pieces such as articles and videos, as well as online webinars held monthly. Furthermore, OANDA offers a searchable archive of past webinars, making it easy for beginners to learn at their own pace. In addition, OANDA stands out by offering over 10 advanced educational videos tailored for seasoned traders, besides catering to beginners with a comprehensive investor dictionary. These resources collectively contribute to OANDA's high education rating of five stars, ranking it 22nd out of 63 brokers by ForexBrokers.com.
Spreadex also offers a strong selection of educational content, including more than 10 beginner-friendly videos and a substantial investor dictionary like OANDA's. However, it lacks the consistent offering of online webinars and a searchable archive of recorded sessions, which can limit real-time learning opportunities. Furthermore, while Spreadex provides a solid foundation for beginner traders, its range of advanced educational videos is not as extensive as OANDA's. Consequently, Spreadex received a four-star rating in education and a lower ranking of 45th among 63 brokers. Overall, beginners may find OANDA to be a more comprehensive option when starting due to its superior range of educational resources and accessibility to both beginner and advanced materials.
| 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
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Spreadex
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| Trust Score | 93 | 71 |
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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.
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0 of 5| Overall Rating | OANDA | Spreadex | |
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| Trust Score | 93 | 71 | |
| Winner | check_circle | ||
| Review | OANDA Review | Spreadex Review |
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| 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) | No | No | |
| 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) | 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 | Spreadex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3928 | 10000 | |
| Forex Pairs (Total) | 68 | 52 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | 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 | 1.61 | 0.81 | |
| All-in Cost EUR/USD - Active | 1.61 | 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) | 81 | 58 | |
| Charting - Drawing Tools (Total) | 431 | 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 |
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| Trust Score | 93 | 71 | |
| Winner | check_circle | ||
| Review | OANDA Review | Spreadex Review |
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