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TD Ameritrade vs OANDA 2021

Is OANDA better than TD Ameritrade? In our analysis of 23 international regulators across 50 brokers, OANDA is considered low-risk, with an overall Trust Score of 89 out of 99. TD Ameritrade FX is considered low-risk, with an overall Trust Score of 98 out of 99. Learn more about Trust Score.


CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Overall Rating

Feature TD Ameritrade OANDA
Overall 4.5 4
Commissions & Fees 3.5 3.5
Offering of Investments 4.5 3
Platforms & Tools 4.5 4
Mobile Trading 4.5 4
Research 4.5 4.5
Education 4 3.5
Trust Score 98 91
TD Ameritrade Review OANDA Review
N/A of retail CFD accounts lose money 76.6% of retail CFD accounts lose money

Regulation

Feature TD Ameritrade OANDA
Trust Score 98 91
Year Founded
1955 1996
Publicly Traded (Listed)
Yes No
Bank
Yes No
Tier-1 Licenses
5 6
Tier-2 Licenses
0 0
Tier-3 Licenses
0 1
Authorised in the European Union
Yes Yes

Tier-1 Licenses (High Trust)

Feature TD Ameritrade OANDA
ASIC Authorised (Australia)
No Yes
IIROC Authorised (Canada)
No Yes
SFC Authorised (Hong Kong)
Yes No
FSA Authorised (Japan)
No Yes
MAS Authorised (Singapore)
Yes Yes
FINMA Authorised (Switzerland)
No No
FCA Authorised (UK)
Yes Yes
CFTC Registered (USA)
Yes Yes

Tier-2 Licenses (Average Trust)

Feature TD Ameritrade OANDA
CBRC Authorised (China)
No No
CySEC Authorised (Cyprus)
No No
CBI Authorised (Ireland)
No No
ISA Authorised (Israel)
No No
FMA Authorised (New Zealand)
No No
CBR Authorised (Russia)
No No
FSCA Authorised (South Africa)
No No
SEC Authorised (Thailand)
No No

Tier-3 Licenses (Low Trust)

Feature TD Ameritrade OANDA
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands)
No Yes
FSC Authorised (Mauritius)
No No

Investments

Feature TD Ameritrade OANDA
Forex Trading
Yes Yes
CFD Trading
No Yes
Tradeable Symbols (Total)
N/A 124
Forex Pairs (Total)
73 71
US Stock Trading (Non CFD)
Yes No
Int'l Stock Trading (Non CFD)
Yes No
Cryptocurrency (Physical)
No No
Cryptocurrency (CFD)
No Yes
Social Trading / Copy-Trading
No Yes

Cost

Feature TD Ameritrade OANDA
Average Spread EUR/USD - Standard
1.065 pips (Sep 2019) 1.4 (August 2021)
All-in Cost EUR/USD - Active
1.065 pips (Sep 2019) 1.4 (August 2021)
Active Trader or VIP Discounts
No Yes
Execution: Agency Broker
Yes No
Execution: Market Maker
No Yes

Funding

Feature TD Ameritrade OANDA
Minimum Deposit
$0.00 $0.00
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
No Yes
PayPal (Deposit/Withdraw)
No Yes
Skrill (Deposit/Withdraw)
No Yes

Trading Platforms

Feature TD Ameritrade OANDA
Proprietary Platform
Yes Yes
Desktop Platform (Windows)
Yes Yes
Web Platform
Yes Yes
Social Trading / Copy-Trading
No Yes
MetaTrader 4 (MT4)
No Yes
MetaTrader 5 (MT5)
No No
cTrader
No No
DupliTrade
No No
ZuluTrade
No Yes

Trading Tools

Feature TD Ameritrade OANDA
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
564 6
Charting - Indicators / Studies (Total)
360 81
Charting - Drawing Tools (Total)
23 431
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes

Mobile Trading

Feature TD Ameritrade OANDA
Android App
Yes Yes
Apple iOS App
Yes Yes
Alerts - Basic Fields
Yes Yes
Watch List
Yes Yes
Watch List Syncing
Yes No
Charting - Indicators / Studies
360 33
Charting - Draw Trendlines
Yes Yes
Charting - Trendlines Moveable
No Yes
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes Yes
Forex Calendar
Yes Yes

Research

Feature TD Ameritrade OANDA
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
Yes Yes
Weekly Webinars
No Yes
Autochartist
No Yes
Trading Central (Recognia)
No No
Delkos Research
No No
Social Sentiment - Currency Pairs
No Yes
Economic Calendar
Yes Yes

Education

Feature TD Ameritrade OANDA
Has Education - Forex or CFDs
Yes Yes
Client Webinars
Yes Yes
Client Webinars (Archived)
Yes Yes
Videos - Beginner Trading Videos
Yes Yes
Videos - Advanced Trading Videos
Yes Yes
Investor Dictionary (Glossary)
Yes Yes

Major Forex Pairs

Feature TD Ameritrade OANDA
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

Overall

Feature TD Ameritrade OANDA
Overall 4.5 4
Commissions & Fees 3.5 3.5
Offering of Investments 4.5 3
Platforms & Tools 4.5 4
Mobile Trading 4.5 4
Research 4.5 4.5
Education 4 3.5
Trust Score 98 91
TD Ameritrade Review OANDA Review

Comparing forex brokers side by side is no easy task. For our 2021 annual forex broker review, we spent hundreds of hours assessing 27 forex and CFD brokerages to find the best forex broker. Let's compare OANDA vs TD Ameritrade.

Does OANDA or TD Ameritrade offer lower pricing?
Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, TD Ameritrade offers better pricing overall for traders.

Is OANDA or TD Ameritrade safer for forex and CFDs trading?
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 20 international regulator databases. Here's our findings. OANDA holds 6 global Tier-1 licenses, while TD Ameritrade holds 5. Both OANDA and TD Ameritrade hold 0 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, TD Ameritrade earned a higher Trust Score than OANDA.

Which trading platform is better: OANDA or TD Ameritrade?
To compare the trading platforms of both OANDA and TD Ameritrade, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, TD Ameritrade offers a better experience. With research, TD Ameritrade offers superior market research. Finally, we found TD Ameritrade to provide better mobile trading apps.

What about MetaTrader and copy trading?
For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. While OANDA offers copy trading, TD Ameritrade does not. OANDA offers MetaTrader 4 (MT4), while TD Ameritrade does not.

How many forex pairs and CFDs are available to trade?
TD Ameritrade provides traders 73 currency pairs (e.g., EUR/USD) compared to OANDA's 71 available pairs. Forex pairs aside, OANDA offers traders access to 124 CFDs while TD Ameritrade has N/A available CFDs, a difference of 124.

Can I trust OANDA?
OANDA is not publicly traded and does not operate a bank. OANDA is authorised by six tier-1 regulators (high trust), zero tier-2 regulators (average trust), and zero tier-3 regulators (low trust). OANDA is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Investment Industry Regulatory Organization of Canada (IIROC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Financial Conduct Authority (FCA), and the Commodity Futures Trading Commission (CFTC).

Can I trust TD Ameritrade?
TD Ameritrade FX is publicly-traded, does operate a bank, and is authorised by five tier-1 regulators (high trust), zero tier-2 regulators (average trust), and zero tier-3 regulators (low trust). TD Ameritrade FX is authorised by the following tier-1 regulators: Investment Industry Regulatory Organization of Canada (IIROC), Securities Futures Commission (SFC), Monetary Authority of Singapore (MAS), Financial Conduct Authority (FCA), and the Commodity Futures Trading Commission (CFTC).

Is OANDA good?
As a trusted global brand, OANDA provides forex and CFD traders a limited offering of FX pairs and CFDs but stands out for its reputation and quality market research.

Is TD Ameritrade good?
With over 70 currency pairs to trade alongside a plethora of tools, research, and education, TD Ameritrade's thinkorswim platform provides US-based forex traders the ultimate trading technology experience.

Overall winner: TD Ameritrade

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Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published website as of 12/14/2020 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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OANDA - CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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