Written by ForexBrokers.com
In this head to head comparison of OANDA vs Spreadex, 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 Spreadex, founded in 1999, are both respected players in the online brokerage sector. Neither of these companies is publicly traded or operates as a bank, but they differ significantly in their regulatory standings. OANDA holds a strong position with seven Tier-1 licenses, guiding it to a Trust Score rating of 93 from ForexBrokers.com, making it a highly trusted choice for traders. In contrast, Spreadex has one Tier-1 license and a Trust Score of 71, which places it in the average risk category according to the same rating system.
Despite their different levels of regulatory credentials, both OANDA and Spreadex provide reliable services, but OANDA’s higher Trust Score and number of Tier-1 licenses might appeal more to those who prioritize regulatory oversight and corporate trustworthiness. Both companies offer unique strengths, but potential clients might lean towards OANDA for greater peace of mind due to its strong regulatory position.
| Feature |
OANDA
|
Spreadex
|
|---|---|---|
| Year Founded | 1996 | 1999 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 0 |
When comparing the commission and fees structure of online brokers OANDA and Spreadex, both platforms offer unique strengths suitable for different trading needs. OANDA, renowned for its automated execution, unfortunately comes with relatively high forex trading costs due to its effective spreads. When considering its default pricing, OANDA averages a spread of 1.61 pips for the EUR/USD pair. In contrast, OANDA’s core pricing lowers the spread to 0.4 pips but introduces a commission of $10 per $100,000 traded, making it slightly more economical at 1.4 pips all-in cost. OANDA also offers favorable conditions for smaller traders by allowing trading units as small as 1 unit, compared to the typical micro lot sizes. For active traders, the Elite Trader program provides rebates and additional perks.
Spreadex, on the other hand, presents more attractive spreads for traders looking to minimize costs. In January 2024, Spreadex provided an average spread of 0.81 pips for the EUR/USD pair, with a minimum spread of 0.6 pips available 60% of the time. This consistently lower cost structure makes Spreadex a viable option for traders prioritizing spread efficiencies.
In terms of ratings for commissions and fees, both brokers receive 4 stars out of 5. However, Spreadex slightly outperforms OANDA in the broker rankings by ForexBrokers.com, securing the 30th spot compared to OANDA’s 34th rank among 62 brokers. This indicates that while both brokers offer commendable services, Spreadex may offer a more cost-effective solution for forex traders focused on keeping their trading expenses under control.
| Feature |
OANDA
|
Spreadex
|
|---|---|---|
| Minimum Deposit | $0 | $0 |
| Average Spread EUR/USD - Standard | 1.61 | 0.81 |
| All-in Cost EUR/USD - Active | 1.61 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
OANDA and Spreadex both provide opportunities for trading forex as CFDs or spot contracts, catering to those interested in the currency markets. OANDA allows access to 68 forex pairs, while Spreadex offers 52, providing ample choice in the forex trading sphere. When it comes to the overall range of tradable symbols, Spreadex outshines with 10,000 options compared to OANDA’s 3,928. However, neither broker offers the ability to trade exchange-traded securities on U.S. or international exchanges, such as Apple or Vodafone shares, focusing their efforts elsewhere. Additionally, OANDA supports copy trading, a feature not available with Spreadex. For those interested in cryptocurrencies, OANDA offers both actual cryptocurrencies and derivatives, while Spreadex only provides cryptocurrency derivatives.
In terms of investment range ratings, Spreadex receives a stellar 5 stars, ranking 13th among 62 brokers, reflecting its wider selection of investment options. OANDA, on the other hand, receives 4 stars, ranking 27th in the same category. This shows that while OANDA’s offerings are commendable, Spreadex has the upper hand when it comes to the breadth of available trading instruments. Therefore, traders who prioritize a broader variety of symbols might find Spreadex more appealing, while those interested in cryptocurrency and copy trading might lean towards OANDA.
| Feature |
OANDA
|
Spreadex
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3928 | 10000 |
| Forex Pairs (Total) | 68 | 52 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | No |
| 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.
When comparing OANDA and Spreadex, OANDA stands out for its extensive suite of trading platforms and tools. OANDA offers a simulated trading account, allowing users to practice with a free virtual demo, while Spreadex does not provide this feature. Both brokers present proprietary platforms, but OANDA also supports MetaTrader 4 and MetaTrader 5, providing greater versatility for traders. While OANDA offers a downloadable Windows-based desktop platform, Spreadex limits users to its web-based platform. Moreover, OANDA includes copy trading capabilities, a feature missing from Spreadex's offerings.
In terms of charting tools, OANDA provides a generous array of 431 drawing tools, surpassing Spreadex's 11. Both brokers permit trading directly from stock charts, but OANDA shines with its six-column watch list compared to Spreadex’s eight-column setup, offering users concise field options. OANDA and Spreadex both achieve a four-star rating from ForexBrokers.com for their trading platforms and tools. However, OANDA ranks higher, positioned at #16 out of 62 brokers, whereas Spreadex is ranked at #46. This indicates a broader preference towards OANDA's platform features and overall trading environment.
| Feature |
OANDA
|
Spreadex
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 81 | 55 |
| Charting - Drawing Tools (Total) | 431 | 11 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 8 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Comparing the mobile trading apps of OANDA and Spreadex offers a clear picture of their strengths for investors on the go. Both OANDA and Spreadex provide iPhone and Android apps, catering to a wide audience of mobile users. They both also include features like stock and forex price alerts, and the ability to draw trendlines on charts, providing essential tools for active traders. One difference is that OANDA provides 30 technical studies for chart analysis in its app, while Spreadex does not specify any. Additionally, OANDA's app allows for seamless drawing capabilities that are auto-saved, whereas Spreadex does not offer this function.
Both apps offer watchlist creation with real-time quotes, but neither supports symbol syncing between the mobile app and desktop. OANDA has a slightly higher rating for mobile trading apps, earning five stars compared to Spreadex's four, and is ranked seventh out of 62 brokers by ForexBrokers.com for its mobile trading capability, significantly higher than Spreadex's 49th place. This makes OANDA more appealing for users who prioritize comprehensive mobile trading features and user experience.
| Feature |
OANDA
|
Spreadex
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offered by OANDA and Spreadex, both brokers provide daily market commentary and forex news from reputable sources like Bloomberg and Reuters. Additionally, they each feature an economic calendar to keep traders informed about global events. However, a key difference lies in the tools available for analysis. OANDA provides tools from Autochartist, enhancing their technical and fundamental research offerings, whereas Spreadex does not. Both platforms lack tools from Trading Central and Acuity Trading, and neither offers market research from TipRanks.
OANDA also steps ahead by offering a sentiment-based trading tool that visualizes long and short positions across currency pairs, which Spreadex also provides. Notably, when assessed for research quality, OANDA is rated higher at 5 stars compared to Spreadex's 4 stars. OANDA ranks impressively at number 5 out of 62 brokers in the Research category according to ForexBrokers.com, while Spreadex holds the 31st position, highlighting OANDA's stronger reputation in offering valuable market insights.
| Feature |
OANDA
|
Spreadex
|
|---|---|---|
| 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 | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, OANDA proves to be a strong contender as an online broker. The platform offers an extensive collection of educational materials, exceeding ten pieces, focusing on forex and CFDs. These materials range from articles and videos to archived webinars, providing a comprehensive introduction for new traders. Not only does OANDA provide at least one live educational webinar each month, but it also maintains a searchable archive of these webinars for those who want to review past sessions. On top of this, beginners can access a series of over ten videos specifically curated for their learning needs, along with an investor dictionary defining more than 50 important investing terms. Advanced traders can also benefit from a selection of educational videos catered to their expertise. OANDA's commitment to education is apparent with its five-star rating and a respectable 22nd rank in the education category out of 62 brokers by ForexBrokers.com.
In comparison, Spreadex also supports new traders with more than ten educational pieces focusing on forex and CFDs, similar to OANDA. However, Spreadex falls short by not providing any live educational webinars or a searchable archive of recorded sessions, which may limit learning opportunities for beginners seeking interactive or on-demand content. While Spreadex does offer upwards of ten beginner-focused educational videos and an investor dictionary with over 50 terms, its selection does not extend to advanced traders, as it lacks educational videos for more experienced individuals. This gap in resources contributes to Spreadex's four-star education rating and a lower rank of #45 in the education category according to ForexBrokers.com, suggesting that while it offers valuable content for beginners, it might not cater as effectively to those wishing to advance further in their trading education.
| Feature |
OANDA
|
Spreadex
|
|---|---|---|
| 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 | No |
| 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 OANDA is better than Spreadex. OANDA finished with an overall rank of #12, while Spreadex finished with an overall rank of #39.
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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Spreadex
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| Trust Score | 93 | 71 |
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In comparing online brokers, OANDA allows users to buy both actual cryptocurrencies and cryptocurrency derivatives, whereas Spreadex only offers the ability to purchase cryptocurrency derivatives, not the actual digital currencies themselves.
When comparing online brokers OANDA and Spreadex, OANDA provides more flexible funding options, supporting ACH, SEPA transfers, PayPal, and Skrill along with Visa, Mastercard, and bank wires, whereas Spreadex only accepts Visa, Mastercard, and bank wires for deposits and withdrawals.
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 | Spreadex | |
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| Trust Score | 93 | 71 | |
| Winner | check_circle | ||
| Review | OANDA Review | Spreadex Review |
| Broker Screenshots | OANDA | Spreadex | |
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| Regulation | OANDA | Spreadex | |
|---|---|---|---|
| Trust Score | 93 | 71 | |
| Year Founded | 1996 | 1999 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 7 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 0 |
| Tier-1 Licenses (Highly Trusted) | OANDA | Spreadex | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| 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 | Spreadex | |
|---|---|---|---|
| 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 | OANDA | Spreadex | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3928 | 10000 | |
| Forex Pairs (Total) | 68 | 52 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | No | |
| 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 | Spreadex | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.61 | 0.81 | |
| All-in Cost EUR/USD - Active | 1.61 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | OANDA | Spreadex | |
|---|---|---|---|
| Minimum Deposit | $0 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | OANDA | Spreadex | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | OANDA | Spreadex | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 8 | |
| Charting - Indicators / Studies (Total) | 81 | 55 | |
| Charting - Drawing Tools (Total) | 431 | 11 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | Spreadex | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | OANDA | Spreadex | |
|---|---|---|---|
| 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 | Yes |
| Education | OANDA | Spreadex | |
|---|---|---|---|
| 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 | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | OANDA | Spreadex | |
|---|---|---|---|
| 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 | Spreadex Review |
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| Trust Score | 93 | 71 | |
| Winner | check_circle | ||
| Review | OANDA Review | Spreadex Review |
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