Page Summary
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.
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eToro
77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. eToro AUS Capital Limited AFSL 491139. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. OTC Derivatives are speculative and leveraged. Not suitable for all investors. See PDS and TMD. Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.
Oanda
BROKER COMPARISON
Trading Platform & Tools
| Automated Trading | ||
| Charting Tools | ||
| Conditional Orders | ||
| cTrader | ||
| Demo Account | ||
| Desktop Platform | ||
| Max Leverage | 1:30 | 1:50 |
| MetaTrader 4 (MT4) | ||
| MetaTrader 5 (MT5) | ||
| Mobile Version | ||
| Mutual Fund Management | ||
| Proprietary Platform | ||
| Social/Copy Trading | ||
| Trading Alerts | ||
| Trading signals | ||
| Watchlist | ||
| Web Version |
Fees
| Withdrawal Fee | $5 | $20 + Fee |
| Deposit Fee | 0 | 0 |
| Inactivity Fee | $10 a month after one year | $10 a month after 12 months |
| Cost Per Trade | N/A | 0 |
| Cost Per Month | N/A | 0 |
| Forex (EUR/USD) | 1.1 pip | 1.3 |
| Stocks & ETF | 0 | 0 |
| CFD (Gold) | 5 pip | 31 |
| Crypto | 0 | 0 |
| Options | 0 | 0 |
| Conversion Fees | 0 | 0 |
| Misc. Fees | 0 | 0 |
| Overnight Fees |
Deposit & Withdrawal
| Minimum deposit (in UAE) | $50 | 0 |
| Bank Wire | ||
| Credit/Debit Card | ||
| Cash | ||
| Check | ||
| Islamic Account Transfer | ||
| E-payments | ||
| Paypal | ||
| Skrill | ||
| Neteller |
Assets
| Shares | 2.800 | 0 |
| ETF & Funds | 0 | 0 |
| Crypto | 30 | 0 |
| Commodities | 0 | 0 |
| Indices | 0 | 0 |
| Options | 0 | 0 |
| Futures | 0 | 0 |
| Bonds | 0 | 0 |
| Forex | 49 | 70 |
| CFD Indices & Funds | 250 | 12 |
| CFD Stocks | 2800 | 0 |
| CFD Commodities | 54 | 35 |
| CFD Crypto | 32 | 0 |
| CFD Bonds | 0 | 3 |
| Binary Options | 0 | 0 |
| SWAPS | 0 | 0 |
| Saving Plans | 0 | 0 |
Research & Education
| Webinars | ||
| Educational Resources | ||
| Daily News Updates | ||
| Market Indepth Analysis | ||
| Pers. Training & Room | ||
| Market Research |
Customer Support
| Phone | ||
| Live Chat | ||
| 24/7 support | ||
| Multilingual | ||
| Personal Account Manager |
Winner
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:
- eToro is the leading social trading broker with premium platforms and tools.
- Oanda is a leading U.S. forex broker with outstanding research tools, API, and a learning center.
- 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.
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:
Disclaimer:
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that 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.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.