Written by ForexBrokers.com
In this head to head comparison of OANDA vs Trade Nation, 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 Trade Nation, founded in 2014, are well-known online brokers offering various trading services. Both companies are private enterprises and are not banks. While neither is publicly traded on a stock exchange, they differ in regulatory standing. OANDA holds an impressive 7 Tier-1 licenses, showcasing its commitment to high safety standards, which contributes to its high Trust Score of 93 out of 99 on ForexBrokers.com, marking it as a highly trusted broker.
Trade Nation, although newer to the scene, maintains a strong regulatory framework with 2 Tier-1 licenses and an additional Tier-2 license. These credentials contribute to its solid Trust Score of 85 out of 99, categorizing it as a trusted broker. While both brokers have distinct strengths in their regulatory setups, OANDA edges out with a higher number of top-tier licenses, offering an added layer of trust for clients seeking online trading partners with robust regulatory backing.
| Feature |
OANDA
|
Trade Nation
|
|---|---|---|
| Year Founded | 1996 | 2014 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
In comparing the commissions and fees of OANDA and Trade Nation, OANDA falls short with relatively high forex trading costs, characterized by high effective spreads across its pricing models. Although OANDA isn't known for offering discounted rates, its strength lies in its automated execution across account offerings. The broker's default bid/ask spreads are similar to those of FOREX.com and FxPro but are generally higher than firms offering sub-pip spreads. With its core pricing, OANDA provides reduced spreads with a per-side commission, making its all-in costs slightly more competitive than the default pricing. Additionally, OANDA offers unique micro lot sizing and an Elite Trader program that benefits high-volume traders with rebates and subscription reimbursements. OANDA is rated 4 stars for commissions and fees and is ranked #34 out of 63 brokers by ForexBrokers.com.
In contrast, Trade Nation offers a simpler and more competitive fee structure with fixed-spread pricing on its proprietary platform and variable-spread pricing on MetaTrader. With a fixed spread of 0.6 pips for the EUR/USD pair, Trade Nation stands out for its straightforward pricing, which only widens during the daily rollover period. This pricing model simplifies average cost calculations as the prices are fixed, bringing the average close to 1 pip when considering all data points. Trade Nation provides three primary account types, with its TN Trader account generally offering the most favorable spreads. Due to steadfast fixed spreads, Trade Nation enjoys a strong position in terms of competitive pricing. It earns a perfect 5-star rating for commissions and fees and is ranked #7 out of 63 brokers by ForexBrokers.com.
In conclusion, while OANDA delivers unique account features such as customizable micro lots and rewards for high-volume traders, it is outshone by Trade Nation's fixed-spread simplicity and overall lower trading costs. This makes Trade Nation a more appealing option for traders looking for transparent and predictable pricing conditions without the necessity of negotiating variable spreads. With a higher star rating and better ranking in the commissions and fees category, Trade Nation stands as the more cost-effective choice between the two brokers.
| Feature |
OANDA
|
Trade Nation
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.61 | 0.6 |
| All-in Cost EUR/USD - Active | 1.61 | 0.6 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the offerings of OANDA and Trade Nation in terms of investment range, OANDA provides a more extensive selection with 3,928 tradeable symbols, including 68 forex pairs. In contrast, Trade Nation offers 1,000 tradeable symbols, featuring 46 forex pairs. Both platforms allow users to engage in forex trading through contracts for difference (CFDs) or spot contracts; however, neither provides access to exchange-traded securities on U.S. or international exchanges. This means clients cannot directly purchase popular shares like Apple or Vodafone on either platform. Additionally, both OANDA and Trade Nation offer copy trading, which allows investors to replicate the trades of successful traders.
OANDA extends its investment options by enabling clients to buy actual cryptocurrencies, while Trade Nation does not offer this feature. Both brokers do, however, provide the option to trade in cryptocurrency derivatives. In terms of ratings, OANDA scores higher with four stars for its range of investments, ranking #27 among 63 brokers according to ForexBrokers.com. Meanwhile, Trade Nation is rated 3.5 stars, placing it at #38. This comparison shows that while both platforms offer a solid starting point for online trading, OANDA presents a slightly broader suite of investment opportunities.
| Feature |
OANDA
|
Trade Nation
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3928 | 1000 |
| Forex Pairs (Total) | 68 | 46 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | 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.
OANDA and Trade Nation both offer user-friendly experiences, with each providing a complimentary virtual demo account, proprietary platforms, and web-based trading interfaces. They also support MetaTrader 4 (MT4) and have Windows-based desktop download platforms available. While OANDA offers the more advanced MetaTrader 5 (MT5) platform, Trade Nation does not. Both brokers feature copy trading, but do not provide services like DupliTrade or ZuluTrade. Despite having fewer drawing tools, with 39 compared to OANDA's 431, Trade Nation impresses with 14 watch list fields, surpassing OANDA's six. OANDA, on the other hand, allows traders to the convenience of trading directly from a stock chart.
In terms of overall user experience, both brokers received a four-star rating for their trading platforms and tools. However, OANDA stands out by ranking 15th among 63 brokers evaluated by ForexBrokers.com, whereas Trade Nation holds the 44th spot. This suggests that while both platforms are comparable, OANDA may provide a slightly more advanced trading environment, especially for traders seeking additional charting capabilities and the latest MetaTrader platform version. Those requiring enhanced watch list fields might find Trade Nation appealing, though it may not offer direct trade execution from stock charts.
| Feature |
OANDA
|
Trade Nation
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 81 | 115 |
| Charting - Drawing Tools (Total) | 431 | 39 |
| Charting - Trade From Chart | Yes | No |
| Watchlists - Total Fields | 6 | 14 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When evaluating mobile trading apps, both OANDA and Trade Nation offer strong contenders for forex traders, with each providing applications for both iPhone and Android devices. They cater to users looking for essential features such as stock or forex price alerts and the ability to draw trendlines on charts. Both platforms enable traders to view multiple time frames and auto-save their chart drawings. However, a critical point of differentiation is in the syncing of watchlists. Trade Nation supports watchlist symbol syncing between the mobile app and an online account, allowing seamless transitions for users. OANDA, unfortunately, does not offer this feature, which could be a consideration for those relying heavily on synchronized tailor-made watchlists.
When it comes to charting features, OANDA's mobile app provides 30 technical studies, whereas Trade Nation offers a well-rounded 99 studies, which may appeal to those needing a larger variety of technical analysis tools. Both brokers allow the creation of watchlists with real-time quotes. In terms of user ratings and overall ranking, OANDA receives a higher satisfaction score with 5 stars for its mobile app and is ranked #7 out of 63 brokers by ForexBrokers.com. On the other hand, Trade Nation, while offering a highly rated experience with 4 stars, is positioned further down at #45. Ultimately, traders must weigh these differences against their trading behaviors and priorities when choosing the best app for their needs.
| Feature |
OANDA
|
Trade Nation
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 30 | 99 |
| 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.
In the realm of market research offerings, both OANDA and Trade Nation provide daily market commentary and forex news from reputable sources like Bloomberg and Reuters. However, OANDA stands out by incorporating additional specialized tools, such as those from Autochartist, which are not offered by Trade Nation. Both brokers offer sentiment-based trading tools, yet differ in other research services like economic calendars. OANDA provides a comprehensive economic calendar that highlights global events, a feature not available with Trade Nation.
As for research ratings, OANDA receives a top-tier 5-star rating, distinguishing itself as a leader in the field, whereas Trade Nation holds a commendable, yet lower, rating of 3.5 stars. In rankings by ForexBrokers.com, OANDA is notably ranked 5th among 63 brokers for its research capabilities, showcasing its advanced offerings. On the other hand, Trade Nation ranks 42nd, suggesting room for improvement in its market research services.
| Feature |
OANDA
|
Trade Nation
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | No |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available for beginners at online brokers OANDA and Trade Nation, it becomes evident that both platforms offer a variety of learning materials. OANDA and Trade Nation each provide a substantial selection of educational content, including articles, videos, and webinars focused on forex and CFDs. Both brokers offer at least 10 beginner videos that delve into trading topics tailor-made for newcomers. However, when it comes to live and archived educational webinars, OANDA stands out by providing monthly online client webinars and maintaining a searchable archive, which Trade Nation does not offer.
In terms of resources for more advanced traders, both OANDA and Trade Nation have at least 10 advanced educational videos available. Additionally, they each provide investor dictionaries that contain definitions of over 50 investing terms, making these tools valuable for both beginners and seasoned traders. Despite some similarities in their offerings, OANDA receives a higher education rating with 5 stars compared to Trade Nation’s 3.5 stars. Ranking-wise, this is reflected by ForexBrokers.com, which places OANDA at #22 and Trade Nation at #41 for education out of 63 brokers. Overall, while both platforms are resourceful for beginners, OANDA offers a more comprehensive educational experience.
| Feature |
OANDA
|
Trade Nation
|
|---|---|---|
| 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 | Yes |
| 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 Trade Nation. OANDA finished with an overall rank of #12, while Trade Nation finished with an overall rank of #34.
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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Trade Nation
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| Trust Score | 93 | 85 |
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OANDA allows users to purchase actual cryptocurrency in addition to offering cryptocurrency derivatives, whereas Trade Nation only provides the option to trade cryptocurrency derivatives without offering the purchase of actual cryptocurrency.
OANDA provides a variety of flexible options for depositing and withdrawing funds, including ACH or SEPA transfers, PayPal, Skrill, Visa or Mastercard, and bank wires, while Trade Nation offers Skrill, Visa or Mastercard, and bank wires but lacks ACH, SEPA, and PayPal options.
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 | Trade Nation | |
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| Trust Score | 93 | 85 | |
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| Review | OANDA Review | Trade Nation Review |
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| Regulation | OANDA | Trade Nation | |
|---|---|---|---|
| Trust Score | 93 | 85 | |
| Year Founded | 1996 | 2014 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 7 | 2 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | OANDA | Trade Nation | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| 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 | Trade Nation | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | OANDA | Trade Nation | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3928 | 1000 | |
| Forex Pairs (Total) | 68 | 46 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | 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 | Trade Nation | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.61 | 0.6 | |
| All-in Cost EUR/USD - Active | 1.61 | 0.6 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | OANDA | Trade Nation | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | OANDA | Trade Nation | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | OANDA | Trade Nation | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 14 | |
| Charting - Indicators / Studies (Total) | 81 | 115 | |
| Charting - Drawing Tools (Total) | 431 | 39 | |
| Charting - Trade From Chart | Yes | No | |
| Charts can be saved | Yes | No |
| Mobile Trading | OANDA | Trade Nation | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 99 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | No |
| Research | OANDA | Trade Nation | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | No |
| Education | OANDA | Trade Nation | |
|---|---|---|---|
| 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 | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | OANDA | Trade Nation | |
|---|---|---|---|
| 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 | Trade Nation Review |
| Overall | OANDA | Trade Nation | |
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| Trust Score | 93 | 85 | |
| Winner | check_circle | ||
| Review | OANDA Review | Trade Nation Review |
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