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 |
OANDA and Spreadex stand out in the online brokerage landscape with their distinct approaches to commissions and fees. OANDA is known for its higher forex trading costs, featuring effective spreads that tend to be more substantial compared to top-tier brokers. Its unique strength lies in its automated execution for all account offerings. The minimum spread at OANDA is often higher, making it comparable to brokers like FOREX.com and FxPro. To illustrate, OANDA's average non-core pricing spread for the EUR/USD pair was 1.61 pips in July 2024. Meanwhile, OANDA’s core pricing option offers reduced spreads with an accompanying commission of $5 per $100,000 traded, requiring a minimum deposit of $10,000. This results in a slightly more affordable total cost when compared to their commission-free pricing model.
Conversely, Spreadex reports more competitive average spreads, demonstrating a 0.81 pip average spread for the EUR/USD pair in January 2024, with a minimum spread of 0.6 pips that was achieved 60% of the time during the month. This lower spread in Spreadex's pricing structure helps create a more cost-effective trading environment for clients compared to OANDA's slightly higher rates across its non-core pricing.
In terms of their ratings and rankings, both OANDA and Spreadex receive a commendable 4 out of 5 stars for their commissions and fees. However, when it comes to broker rankings by ForexBrokers.com, Spreadex is positioned higher at #27 out of 62 brokers, while OANDA is ranked at #34. This positioning underscores Spreadex's slightly better performance in terms of pricing and cost metrics in the broker community.
| 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.
OANDA and Spreadex both provide opportunities for trading forex as CFDs or spot contracts, catering to those interested in the currency markets. OANDA allows access to 68 forex pairs, while Spreadex offers 52, providing ample choice in the forex trading sphere. When it comes to the overall range of tradable symbols, Spreadex outshines with 10,000 options compared to OANDA’s 3,928. However, neither broker offers the ability to trade exchange-traded securities on U.S. or international exchanges, such as Apple or Vodafone shares, focusing their efforts elsewhere. Additionally, OANDA supports copy trading, a feature not available with Spreadex. For those interested in cryptocurrencies, OANDA offers both actual cryptocurrencies and derivatives, while Spreadex only provides cryptocurrency derivatives.
In terms of investment range ratings, Spreadex receives a stellar 5 stars, ranking 13th among 62 brokers, reflecting its wider selection of investment options. OANDA, on the other hand, receives 4 stars, ranking 27th in the same category. This shows that while OANDA’s offerings are commendable, Spreadex has the upper hand when it comes to the breadth of available trading instruments. Therefore, traders who prioritize a broader variety of symbols might find Spreadex more appealing, while those interested in cryptocurrency and copy trading might lean towards OANDA.
| 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 and Spreadex for their trading platforms and tools, it is clear that both offer unique advantages catering to different needs. OANDA provides a comprehensive suite of tools, including a proprietary platform, access to industry-standard MetaTrader 4 and 5, and a Windows-based desktop platform. These options offer a wide variety of trading features that cater to more technically inclined users. Additionally, OANDA supports copy trading, further expanding the options for traders looking to mimic the strategies of others. In terms of charting capabilities, OANDA excels with a vast array of drawing tools, offering 431 compared to Spreadex's 11, allowing for more detailed technical analysis. Both brokers allow trading directly from stock charts and offer free virtual demo accounts for practice trading.
On the other hand, Spreadex stands out with its user-friendly, web-based platform which doesn’t require any download, making it easily accessible for traders who prefer a straightforward interface. Despite not offering MetaTrader platforms or copy trading, Spreadex provides a streamlined experience with eight fields available for watch lists, two more than the six offered by OANDA. Both brokers earn a commendable four-star rating for their trading platforms and tools, yet OANDA secures a higher ranking at #15 compared to Spreadex, which is ranked #46 by ForexBrokers.com. Ultimately, the choice between these two brokers may come down to specific platform needs and preferences for added trading features.
| 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 comparing the mobile trading apps of OANDA and Spreadex, both brokers offer applications for iPhone and Android users, complete with stock and forex price alerts. However, there are notable differences between the two. OANDA excels in providing a more enhanced charting experience with 30 technical studies available, while Spreadex does not specify its offerings in this area. Both platforms support the drawing of trendlines and the ability to view multiple time frames on charts, yet OANDA's app surpasses Spreadex by automatically saving chart drawings, making it more convenient for traders who frequently analyze and modify their charts.
Watchlist syncing across platforms is absent in both apps, meaning users will need to manage their lists separately on mobile and desktop. Despite this, both apps allow users to create watchlists with real-time quotes. OANDA's mobile app has garnered higher user ratings, with five stars, compared to Spreadex's four, reflecting a better overall user experience. Additionally, OANDA ranks as the seventh-best mobile trading app among 62 brokers on ForexBrokers.com, whereas Spreadex stands at 46th position. These distinctions highlight OANDA as a more favorable choice for those prioritizing advanced charting tools and seamless user experience in mobile 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.
When comparing the market research offerings of OANDA and Spreadex, both brokers provide a comprehensive suite of tools and resources for traders. They both offer daily market commentary and access to forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones. Additionally, each broker provides technical analysis tools from Autochartist and sentiment-based trading tools that reveal the ratio of long and short positions across various instruments. While neither broker offers trading tools from Trading Central or Acuity Trading, both OANDA and Spreadex include an economic calendar that highlights key global news events.
Despite these similarities, OANDA stands out as a top contender in the research category with a five-star rating, positioning itself at #5 among 62 brokers as ranked by ForexBrokers.com. Spreadex, on the other hand, receives a four-star rating and ranks #31. This suggests that while both brokers deliver valuable research tools, OANDA may offer a slightly more polished or extensive research experience for its users.
| 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 it comes to educational resources for beginners, OANDA proves to be a strong contender as an online broker. The platform offers an extensive collection of educational materials, exceeding ten pieces, focusing on forex and CFDs. These materials range from articles and videos to archived webinars, providing a comprehensive introduction for new traders. Not only does OANDA provide at least one live educational webinar each month, but it also maintains a searchable archive of these webinars for those who want to review past sessions. On top of this, beginners can access a series of over ten videos specifically curated for their learning needs, along with an investor dictionary defining more than 50 important investing terms. Advanced traders can also benefit from a selection of educational videos catered to their expertise. OANDA's commitment to education is apparent with its five-star rating and a respectable 22nd rank in the education category out of 62 brokers by ForexBrokers.com.
In comparison, Spreadex also supports new traders with more than ten educational pieces focusing on forex and CFDs, similar to OANDA. However, Spreadex falls short by not providing any live educational webinars or a searchable archive of recorded sessions, which may limit learning opportunities for beginners seeking interactive or on-demand content. While Spreadex does offer upwards of ten beginner-focused educational videos and an investor dictionary with over 50 terms, its selection does not extend to advanced traders, as it lacks educational videos for more experienced individuals. This gap in resources contributes to Spreadex's four-star education rating and a lower rank of #45 in the education category according to ForexBrokers.com, suggesting that while it offers valuable content for beginners, it might not cater as effectively to those wishing to advance further in their trading education.
| 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 62 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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