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.
OANDA and Trade Nation both cater to traders seeking comprehensive trading platforms, offering a variety of tools to enhance the trading experience. Both allow users to engage in simulated trading through free virtual demo accounts, which is ideal for beginners. They have developed their own trading platforms in-house and provide options for both Windows-based desktop and web-based platforms. Additionally, both brokers support MetaTrader 4 (MT4) for keen traders, while OANDA also offers MetaTrader 5 (MT5), giving it a slight edge for those who prefer trading on the newer platform.
OANDA surpasses Trade Nation with a wider range of drawing tools for chart analysis, boasting 431 compared to Trade Nation's 39. This could be crucial for traders who rely heavily on technical analysis. While OANDA allows trades directly from a stock chart, Trade Nation does not offer this feature. However, Trade Nation compensates with more watchlist fields, presenting 14 columns compared to OANDA's 6, which could be beneficial for those who prioritize tracking multiple data points. Despite these differences, both brokers earn a 4-star rating for their trading platforms and tools, with OANDA ranking higher at 16th place on ForexBrokers.com compared to Trade Nation's 45th position.
| 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 | 99 |
| 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.
When it comes to market research, OANDA stands out as a strong choice for traders seeking insightful resources. It offers daily market commentary, keeping users informed about the latest trends and movements in the financial markets. Additionally, OANDA provides forex news from top-tier sources, ensuring that traders have access to credible information. The platform includes technical analysis tools from Autochartist and a sentiment-based trading tool, further enhancing its research capabilities. To assist traders with planning, OANDA also offers an economic calendar that highlights key global news events. With a 5-star research rating and a #5 ranking out of 62 brokers by ForexBrokers.com, OANDA is highly regarded for its comprehensive offering.
On the other hand, Trade Nation offers a somewhat different suite of research tools. While it doesn't provide daily market commentary, it does deliver forex news from reputable sources like Bloomberg and Reuters. Trade Nation also supports traders with a sentiment-based trading tool, ensuring access to essential market insights. Although it lacks Autochartist tools and an economic calendar, Trade Nation compensates somewhat with research tools from Acuity Trading, such as Signal Centre. Despite these features, Trade Nation holds a 3.5-star research rating and ranks #42 out of 62 brokers, indicating a more modest standing compared to OANDA’s robust resources.
| Feature |
OANDA
|
Trade Nation
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| 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.
When it comes to educational resources for beginners in forex and CFDs trading, both OANDA and Trade Nation offer a solid number of educational pieces. These include articles, videos, and other materials that newcomers can easily access. However, OANDA stands out by providing regular online webinars tailored for clients, as well as a searchable archive of past sessions. This offers a more dynamic learning experience for those who prefer live or recorded sessions. In contrast, Trade Nation doesn't offer these webinar features, potentially limiting the variety of learning methods for their users.
Additionally, OANDA extends its educational offerings with a well-rounded selection of videos, catering specifically to both beginner and advanced traders. Their effort in educating beginners is complemented by an investor dictionary that explains over 50 trading terms, further enriching their learning platform. On the other hand, while Trade Nation does furnish content aimed at beginners, their resources are less comprehensive, particularly lacking in advanced trading videos and a detailed investor dictionary. These differences are reflected in the educational ratings, with OANDA scoring 5 stars and being ranked 22nd out of 62 brokers by ForexBrokers.com, compared to Trade Nation's 3.5-star rating and 42nd place ranking.
| 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 | No |
| Investor Dictionary (Glossary) | Yes | No |
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 | 99 | |
| 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 | No | |
| 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 | No | |
| Investor Dictionary (Glossary) | Yes | No |
| 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