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 |
When evaluating OANDA and Trade Nation in terms of commissions and fees, it's evident that both have unique offerings catering to different trader needs. OANDA, rated 4 stars for fees, ranks 34th out of 62 brokers according to ForexBrokers.com. Known for its automated execution, OANDA's forex trading costs can be quite high with average spreads, such as 1.61 pips for the EUR/USD pair. The platform offers a core pricing model that, while requiring a $10,000 deposit, lowers the spread to 0.4 pips but includes a $10 commission per round turn standard lot, bringing the all-in cost to 1.4 pips. OANDA also provides unique trade size flexibility allowing transactions as small as 1 unit and offers a rebate program for active traders reaching significant trade volumes.
On the other hand, Trade Nation shines with a 5-star rating and ranks 7th in the same category. It offers competitive fixed-spread pricing that is consistent across all tradeable symbols on its proprietary platform, with minimal calculations required on the trader's part. For example, their fixed spread for the EUR/USD pair is listed at 0.6 pips, though this can briefly widen to 1.4 pips during daily rollover periods, averaging around 1 pip throughout standard trading times. Trade Nation's account offerings include a variety of options, from its commission-based Raw Spread account with a $7 round-trip fee per standard lot to a commission-free account with higher spreads. The TN Trader account provides the lowest all-in costs compared to its other account types, making Trade Nation highly efficient for cost-conscious traders.
In summary, while OANDA's automated execution and flexibility in trade size provide unique opportunities, its high costs may deter some traders. Conversely, Trade Nation's fixed-spread model and various account types position it as a cost-effective choice with high transparency and predictability in fees, making it a more favorable option for traders looking for consistent pricing.
| 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 OANDA and Trade Nation for their range of investments, both platforms provide forex trading opportunities through CFDs or spot contracts. However, OANDA offers a significantly larger selection with 3,928 tradeable symbols, surpassing Trade Nation's 1,000 symbols. In terms of forex pairs, OANDA again leads the way with 68 options compared to Trade Nation's 46. Neither broker provides access to exchange-traded securities on U.S. or international exchanges, meaning clients cannot directly purchase stocks like Apple or Vodafone shares on these platforms. However, both platforms do support copy trading, which allows users to mirror the trades of more experienced investors.
When it comes to cryptocurrency, OANDA gives clients the ability to buy actual cryptocurrencies, in addition to offering cryptocurrency derivatives. Trade Nation, on the other hand, only provides access to cryptocurrency derivatives, not the actual coins. With these differences, it's no surprise that OANDA has a higher rating of 4 stars versus Trade Nation's 3.5 stars for their range of investments. In the competitive list of 62 brokers ranked by ForexBrokers.com, OANDA holds a superior position at #27, while Trade Nation sits at #38, solidifying OANDA's advantage in the variety of investment options available to its users.
| 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.
When it comes to trading platforms and tools, both OANDA and Trade Nation cater to a wide range of traders by providing virtual demo accounts, ideal for testing strategies in a risk-free environment. Each broker offers a proprietary platform that is developed in-house, allowing for a tailored trading experience. Users can access these platforms both on Windows-based desktops and via web browsers, ensuring flexibility in trading wherever you are. Additionally, both brokers support MetaTrader 4 (MT4), a popular option among traders, although only OANDA extends its offering to include MetaTrader 5 (MT5), providing more advanced features and tools. Copy trading is available with both brokers, yet neither supports DupliTrade or ZuluTrade.
In terms of charting capabilities, OANDA takes the lead with a substantial 431 drawing tools, while Trade Nation offers 39. Furthermore, OANDA allows traders to place trades directly from stock charts, a feature not available with Trade Nation. While Trade Nation excels in providing more fields for watch lists, OANDA still holds strong in this category. With such strengths, both brokers received a solid four-star rating for their trading platforms and tools. Nevertheless, OANDA ranks higher at 15th among 62 brokers according to ForexBrokers.com, while Trade Nation is placed at 44th, highlighting the nuanced differences in their trading tool offerings.
| 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 deciding between OANDA and Trade Nation for mobile trading, it’s important to consider the app features available for both iPhone and Android users. Both apps provide stock or forex price alerts, as well as the capability to draw trendlines and view multiple time frames on charts. However, Trade Nation takes an edge by offering watchlist symbol syncing, which ensures that any changes made to your watchlist are reflected across both your mobile app and online account. On the other hand, OANDA does not support this feature but still impresses with 30 technical studies for charting, which although less than Trade Nation's 99, is complemented by OANDA's seamless auto-saving of chart drawings.
In terms of user ratings and industry rankings, OANDA stands out with a 5-star rating for its mobile trading apps and is ranked 7th out of 62 brokers by ForexBrokers.com. Trade Nation, while also providing a user-friendly experience with real-time quotes and chart auto-saving, is rated 4 stars and holds the 45th position in the same ranking. Ultimately, while both apps offer solid functionality, OANDA's higher rating and rank suggest a more polished experience for mobile traders.
| 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.
OANDA and Trade Nation both provide daily market commentary and deliver forex news from top-tier sources such as Bloomberg, Reuters, and Dow Jones, enhancing the overall trading experience with timely information. Both brokers also offer sentiment-based trading tools, which allow traders to view the ratio of long or short positions across various instruments, aiding in decision-making processes. However, when it comes to specialized research tools, there are notable differences. OANDA provides access to technical analysis tools from Autochartist, which can be a significant asset for traders seeking in-depth technical insights. In contrast, Trade Nation does not offer any Autochartist tools but shines with access to Acuity Trading’s Signal Centre, providing valuable tools for market analysis.
Another point of distinction is the availability of economic calendars. OANDA includes a comprehensive economic calendar that tracks global news events for various economies, an indispensable tool for traders who follow macroeconomic trends. Trade Nation, however, lacks this feature, which could be a drawback for some users. When it comes to ratings and rankings, OANDA stands out with a 5-star rating for research, ranking 5th out of 62 brokers by ForexBrokers.com. Trade Nation, on the other hand, has a 3.5-star rating and ranks 42nd, which may influence traders who prioritize research capabilities in their broker selection.
| 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.
For beginners seeking comprehensive educational resources, both OANDA and Trade Nation provide a substantial selection. OANDA excels in offering a wide array of educational materials with more than 10 resources encompassing articles, videos, and archived webinars focused on forex and CFDs. They also provide monthly educational webinars and maintain a searchable archive of past sessions for continued learning. On top of this, they offer over 10 educational videos tailored for beginners, as well as a rich investor dictionary featuring definitions of at least 50 terms. These extensive resources contribute to OANDA's impressive 5-star rating in education and its 22nd place ranking among 62 brokers by ForexBrokers.com.
Trade Nation also provides a solid educational foundation, featuring more than 10 resources such as articles, videos, and webinars that focus on forex and CFDs. Beginner traders can benefit from over 10 educational videos dedicated to foundational trading topics, complemented by a dictionary with definitions of over 50 investing terms. However, Trade Nation lacks regular monthly webinars and a searchable archive of past webinars, which may limit ongoing educational opportunities. This places the broker at a 3.5-star rating for education and a ranking of 41st out of 62 brokers according to ForexBrokers.com, indicating room for improvement when compared to OANDA.
| 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 62 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
|
Trade Nation
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 93 | 85 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platform & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | OANDA | Trade Nation | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 93 | 85 | |
| Winner | check_circle | ||
| Review | OANDA Review | Trade Nation Review |
| Broker Screenshots | OANDA | Trade Nation | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
|
| |
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| 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 | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 93 | 85 | |
| Winner | check_circle | ||
| Review | OANDA Review | Trade Nation Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill