Written by ForexBrokers.com
In this head to head comparison of eToro vs OANDA, 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.
eToro and OANDA are both reputable online brokers with strong trust ratings in the financial community. Founded in 2007, eToro holds a ForexBrokers.com Trust Score of 93, placing it in the highly trusted category. The broker has secured three Tier-1 licenses, indicating a solid level of reliability, along with one Tier-2 license. Unlike some competitors, eToro is not publicly traded and does not operate as a bank, which might appeal to investors looking for an independent trading platform.
OANDA, established in 1996, also boasts a ForexBrokers.com Trust Score of 93, reflecting its high trust status. The company is particularly notable for its seven Tier-1 licenses, highlighting its broader regulatory approval. Like eToro, OANDA is not listed on any stock exchange and functions independently of the banking system. Both platforms offer experienced traders a secure and trustworthy option for their trading activities, with robust regulatory frameworks that ensure customer protection.
| Feature |
eToro
|
OANDA
|
|---|---|---|
| Year Founded | 2007 | 1996 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 7 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
eToro and OANDA are both prominent online brokers; however, they differ in their approach to commissions and fees, which can impact a trader's decision based on their trading needs. eToro, rated 4.5 stars for commissions and fees, is known for its social copy trading features rather than its competitive spreads. As a market-maker broker, eToro offers a typical variable spread of 1 pip on the EUR/USD pair, slightly above the industry average. For traders with substantial balances, eToro provides a VIP club with multiple tiers, offering exclusive benefits like discounted withdrawal fees and access to Trading Central.
OANDA, rated 4 stars, tends to have higher forex trading costs with significant spreads across its offerings. It provides automated execution and core pricing that allows lower spreads at the cost of a commission—$5 per $100,000 traded. Though this can result in slightly better overall costs, OANDA's minimum deposit for core pricing is $10,000, making it suitable for higher-volume traders. Additionally, OANDA offers transparency in pricing by publishing a trailing average of its spreads, although fixed-period averages are not available for precise comparison.
Comparing their industry rankings, eToro stands at #22 while OANDA is positioned at #34 among 62 brokers rated by ForexBrokers.com for the Commissions and Fees category. This positions eToro slightly higher in terms of user-friendliness regarding fee structures, despite its less competitive spreads, whereas OANDA is appreciated for transparency and detailed pricing across its forex offerings, keeping pace with traders who seek detailed cost analyses.
| Feature |
eToro
|
OANDA
|
|---|---|---|
| Minimum Deposit | $50-$10,000 | $0 |
| Average Spread EUR/USD - Standard | 1 | 1.61 |
| All-in Cost EUR/USD - Active | N/A | 1.61 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| 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 range of investments available with eToro and OANDA, there are several key differences to consider. eToro offers a significantly higher number of tradeable symbols, totaling 5,461, while OANDA provides 3,928 symbols. Both platforms allow forex trading as either CFDs or spot contracts, but OANDA exceeds eToro in the number of tradeable forex pairs, offering 68 compared to eToro’s 55. A major advantage for eToro is its ability to provide clients with the opportunity to trade actual shares from U.S. and international exchanges, such as buying Apple shares from NASDAQ or Vodafone shares from the London Stock Exchange. In contrast, OANDA does not offer the trading of exchange-traded securities outside of CFDs.
Both eToro and OANDA facilitate the purchase of actual cryptocurrencies as well as cryptocurrency derivatives. Additionally, both brokers support copy trading, which can be a valuable tool for new investors looking to replicate the trades of experienced traders. In terms of overall ratings for their range of investments, eToro is awarded 5 stars, placing it at the 10th position out of 62 brokers according to ForexBrokers.com. OANDA, on the other hand, receives 4 stars, ranking it 27th. These factors illustrate that while both platforms have strengths, eToro offers a broader array of investment opportunities, making it a more versatile choice for investors seeking variety.
| Feature |
eToro
|
OANDA
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5461 | 3928 |
| Forex Pairs (Total) | 55 | 68 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | Yes |
| 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 considering eToro and OANDA for online trading, both brokers offer impressive trading platforms and tools, but with unique strengths. eToro shines with an intuitive web-based platform that is perfect for beginners, and it allows simulated trading with a free virtual demo account. The platform, developed in-house, supports copy trading, providing users the opportunity to mimic the trades of successful investors. However, eToro lacks compatibility with MetaTrader platforms and doesn't offer a Windows-based desktop download. Despite this, its focus on social trading and user-friendly experience has earned it a high rating of 4.5 stars and a notable rank of 8th place among 62 brokers according to ForexBrokers.com.
On the other hand, OANDA caters to traders who enjoy technical tools and platform flexibility. It provides both a proprietary platform and support for the widely-recognized MetaTrader 4 and 5 platforms, as well as specific features such as a Windows-based desktop platform and the ability to trade directly from stock charts. OANDA also offers a web-based platform and virtual demo accounts. With a larger array of drawing tools compared to eToro, OANDA supports in-depth technical analysis. However, it rated slightly lower at 4 stars and ranks 15th in the Trading Platforms and Tools category. Traders seeking advanced charting capabilities and platform variety might find OANDA more appealing despite its slightly lower rating.
| Feature |
eToro
|
OANDA
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 104 | 81 |
| Charting - Drawing Tools (Total) | 161 | 431 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | 6 | 6 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of eToro and OANDA, both platforms provide options for iPhone and Android devices, along with essential features like stock or forex price alerts and the ability to create watchlists with real-time quotes. eToro stands out with its ability to sync watchlists between the mobile app and a client's online account, offering a cohesive experience. This feature is absent in OANDA's app. On the technical side, eToro offers a richer set of tools with 104 charting technical studies, compared to OANDA's 30. However, when it comes to drawing capabilities, OANDA allows users to draw trendlines on charts and auto-save those drawings, whereas eToro does not provide these options.
Both apps support multiple time frames, allowing users to view charts on daily, weekly, or intraday time schedules. In terms of user ratings, OANDA slightly edges out eToro with a 5-star rating for its mobile trading app, while eToro holds a respectable 4.5-star rating. On the ForexBrokers.com ranking, OANDA is positioned at 7th out of 62 brokers, outperforming eToro, which ranks 10th. This comparison highlights OANDA’s superior chart drawing features and higher user ratings, whereas eToro shines with more technical studies and seamless watchlist synchronization.
| Feature |
eToro
|
OANDA
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 104 | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both eToro and OANDA provide valuable resources for market research, including daily market commentary and economic calendars. eToro excels with its range of tools such as Technical Analytics from Trading Central and sentiment-based trading that lets you see the ratio of long or short positions across currency pairs. It also offers exclusive market insights from TipRanks. On the other hand, while OANDA does not feature TipRanks or Trading Central, it compensates with forex news from top-tier sources like Bloomberg and Reuters and employs Autochartist for robust technical analysis, making it suitable for data-driven traders.
When comparing user ratings, eToro garners a solid 4.5 stars while OANDA edges slightly higher with 5 stars in the research category. According to ForexBrokers.com, eToro ranks 13th out of 62 brokers, while OANDA claims a higher spot at 5th. This reflects OANDA's strength in offering comprehensive market research tools and information from premium sources, giving seasoned traders an edge in the market.
| Feature |
eToro
|
OANDA
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Both eToro and OANDA provide a wealth of educational resources tailored for beginners who want to dive into the world of forex or CFDs trading. Each platform offers a variety of educational content, including articles, videos, and archived webinars. Additionally, both companies conduct at least one live webinar monthly, further enhancing the learning experience. Whether you're just starting out or looking to boost your existing knowledge, you will find over 10 beginner-focused and advanced videos from both eToro and OANDA, covering essential trading topics. Moreover, each broker provides an extensive investor dictionary, featuring definitions for more than 50 trading terms, which is especially helpful for beginners trying to get familiar with industry jargon.
While both brokers offer similar educational tools, they have received different ratings from users. eToro has earned a commendable rating of 4.5 stars for its educational offerings, sitting proudly at 5th place in the Education category out of 62 brokers ranked by ForexBrokers.com. On the other hand, OANDA holds a higher education rating of 5 stars despite ranking 22nd in the same list. This discrepancy in rankings suggests that while OANDA offers highly rated educational content, eToro is perceived as providing more comprehensive resources beneficial for learners. Regardless of your choice, both platforms have committed to equipping traders with the knowledge they need to succeed.
| Feature |
eToro
|
OANDA
|
|---|---|---|
| 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 |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that eToro is better than OANDA. eToro finished with an overall rank of #9, while OANDA finished with an overall rank of #12.
eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors – or receive exclusive perks for sharing their own trading strategies.
| Feature |
eToro
|
OANDA
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 93 |
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Both eToro and OANDA allow investors to purchase actual, delivered cryptocurrencies as well as cryptocurrency derivatives, offering versatile options for online trading enthusiasts.
Both eToro and OANDA offer ACH or SEPA transfers, PayPal, Skrill, Visa or Mastercard, and bank wires as options to deposit or withdraw account funds, providing users with a versatile array of payment methods.
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 | eToro | OANDA | |
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| Trust Score | 93 | 93 | |
| Winner | check_circle | ||
| Review | eToro Review | OANDA Review |
| Broker Screenshots | eToro | OANDA | |
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| Regulation | eToro | OANDA | |
|---|---|---|---|
| Trust Score | 93 | 93 | |
| Year Founded | 2007 | 1996 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 3 | 7 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | eToro | OANDA | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | Yes | |
| Singapore (MAS Authorised) | No | Yes | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | Yes | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | eToro | OANDA | |
|---|---|---|---|
| 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 | eToro | OANDA | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5461 | 3928 | |
| Forex Pairs (Total) | 55 | 68 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | Yes | |
| 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 | eToro | OANDA | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1 | 1.61 | |
| All-in Cost EUR/USD - Active | N/A | 1.61 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | eToro | OANDA | |
|---|---|---|---|
| Minimum Deposit | $50-$10,000 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | Yes |
| Trading Platforms | eToro | OANDA | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | eToro | OANDA | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 6 | |
| Charting - Indicators / Studies (Total) | 104 | 81 | |
| Charting - Drawing Tools (Total) | 161 | 431 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | eToro | OANDA | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 104 | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | No | Yes |
| Research | eToro | OANDA | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | eToro | OANDA | |
|---|---|---|---|
| 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 | eToro | 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 | |
| Review | eToro Review | OANDA Review |
| Overall | eToro | OANDA | |
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| Trust Score | 93 | 93 | |
| Winner | check_circle | ||
| Review | eToro Review | OANDA Review |
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