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eToro vs. OANDA

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eToro and Oanda are leading online brokers with excellent social trading tools. eToro offers superior social trading tools and platforms. It has a transparent fee structure and active trading discounts. eToro is a trustworthy broker with licenses from the ASIC and FCA. 

Broker NameeToroOanda
Year Founded20071996
RegulationFCA, ASIC, CySECFCA, NFA
Tradable AssetsStock, ETF, Forex, Fund, Bond, Options, Futures, CFD, Crypto, Warrants, Structured ProductsForex, Bonds, Precious Metals, Indices, Commodities
Min Deposit$200$0 (Standard); $20,000 (Premium)
Min Trade$0$0
PlatformsWeb, Social TradingFxTrade, Desktop, Web, MT4
DepositFree of charge$0 (Standard); $20,000 (Premium)
WithdrawalsFree of charge$0 (Standard); $20,000 (Premium)

Oanda is a leading U.S. forex broker with user-friendly platforms and social trading tools. It has top-tier licenses from the CFTC and FCA. We recommend it for beginner investors because of its straightforward platforms. 

This article discusses the advantages and disadvantages of eToro and Oanda. 

Top findings from the eToro vs. Oanda review:  

  1. eToro is the leading social trading broker with premium platforms and tools. 
  1. Oanda is a leading U.S. forex broker with outstanding research tools, API, and a learning center. 
  1. Both brokers offer a demo account for traders to test their platforms. 

eToro is a top choice for professional traders who want access to premium social trading tools. We recommend Oanda for both beginner and experienced investors, as it has powerful research and educational tools. 

Overall Rating

FeatureeToroOANDA
Overall44
Commissions & Fees43.5
Offering of Investments4.53
Platforms & Tools44
Mobile Trading44
Research44.5
Education43.5
Trust Score9389
WinnerYES
67% of retail CFD accounts lose money73.5% of retail CFD accounts lose money

Level of experience  

Beginner traders prefer Oanda because it has easy-to-use trading platforms. Its research tools are versatile, with many technical indicators and an API. Oanda is a top choice for beginner traders as it provides a smooth trading experience and learning center. 

eToro is a professional social trading broker with reliable research tools. It offers market commentary, an economic calendar, world-class copy trading tools, and social sentiment. eToro has premium platforms, which might be challenging to learn by inexperienced traders. Its research and education tools are limited, which is why we recommend it for advanced traders. 

Fees  

eToro has an initial deposit fee of $200, while Oanda doesn’t charge a minimum initial deposit. Both brokers have a transparent fee structure and offer an active trader discount. 

Assets  

eToro has 47 forex currency pairs, while Oanda provides 70 pairs. eToro offers 2314 CFDs, while Oanda has 55 available CFDs. 

Trading platform  

eToro has a proprietary platform and an excellent social trading app. It offers a demo account, some research tools, and access to the best social trading features. eToro is a good choice for professional traders, as its educational and market data are limited. 

Oanda has a proprietary platform, a mobile app, and MT4. Each platform has a straightforward design and easy-to-learn tools. Oanda provides many learning tools, including tutorials and pre-recorded webinars. It is a top choice for beginners because of its wide range of educational and research data. 

Banking services  

Banking services offer benefits to traders of all levels of experience. eToro has six funding options, including bank wire, credit/debit cards, PayPal, and Skrill. Oanda offers bank wire, PayPal, and credit/debit card funding options. 

Final verdict  

eToro and Oanda are leading online brokers. Both have strengths and weaknesses depending on your trading style and experience. eToro is a good choice for advanced traders, as it offers professional platforms and tools. We recommend Oanda to inexperienced traders because it offers many learning materials. 

eToro compared to other brokers:

eToro review


Methodology 

The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.

Disclosure

All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

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