Are you confused about whether to choose OANDA vs eToro as a broker for your investing needs?
In this side-by-side comparison, we analyse OANDA vs eToro to help you understand how these apps compare on some of the most common features and make a better-informed decision about the best broker for you.
Below, you’ll find the pros and cons of each broker, as well as a comparison table that features the different fees charged, the financial instruments supported, the regulation, and more. Keep reading!
OANDA vs eToro: In a Nutshell
For CFD investors valuing access to MetaTrader 5
OANDA Corporation is a reputable online forex and CFD broker known for its advanced trading technology and robust platform.
OANDA offers a wide range of trading instruments, including major and minor currency pairs, commodities, indices, and precious metals.
The trading platform is designed to cater to both novice and experienced traders, providing a seamless trading experience. OANDA accepts US clients only for forex.
Social trading and commission-free stock trading
eToro is a well-known worldwide fintech startup and the leader in the social trading field (following other people’s trades), with over 30 million users worldwide.
You can also invest in other products through their platform, which is intuitive and simple to use, making it a good choice for beginners. Plus, eToro offers commission-free stock trading (other fees apply).
Opening an account and depositing is easy, and you can even try it out with virtual money (a demo account). On the downside, spreads can be high for some products.
Pros and Cons
OANDA
Pros
- 0% commissions on real US stocks, Forex and CFDs on cryptocurrencies, indices and commodities
- Access to MetaTrader 5
- Good research tools
- Well-designed investment platforms
Cons
- OANDA accepts US clients, but only for forex
- Medium-to-high CFD fees
eToro
Pros
- Commission-free stock trading
- Social Trading and other innovative products
- Wide variety of financial products
- Slick, modern, and easy for anyone to use
- Top tier regulators
Cons
- Limited disclosed financial information
- Withdraw and inactivity fees
- Spread, overnight, inactivity, and currency conversion fees higher than average
- Only one currency account (USD) - a currency conversion fee is applied if you deposit in a different currency
- Doesn’t offer bonds, futures, or options
OANDA vs eToro: Side-by-side Comparison
- General Information
- Founded in
- Demo Account
- Account Minimum
- Interest on unninvested cash (annually)
- Products
- Stocks
- ETFs
- Bonds
- Funds
- Options
- Futures
- CFDs
- Leverage Products
- Forex
- Cryptocurrencies
- Commodities
- Fees
- US stocks
- EU stocks
- ETFs
- Cryptocurrencies
- Custody Fee
- Inactivity Fee
- Withdrawal Fee
- Connectivity Fee
- Currency Conversion Fee
- Security
- Regulators
- Investor Compensation Scheme(per person, per institution)
Franklin is a CFA Level III Candidate with 3 years of experience in Wealth Management as a Fund Research Analyst and the Host of the "Edge Over Hedge" YouTube Channel.
