Are you confused about whether to choose OANDA vs M1 Finance as a broker for your investing needs?
In this side-by-side comparison, we analyse OANDA vs M1 Finance 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 M1 Finance: 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.
Mixed financial services, primarily Robo Advisor - US only
M1 Finance is a financial technology company that offers a unique blend of investing, banking, and personal finance management services.
It combines the features of a robo-advisor and a brokerage platform, allowing users to create customized investment portfolios and manage their money efficiently.
M1 Finance aims to empower individuals to take control of their financial future through a user-friendly and intuitive platform.
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
M1 Finance
Pros
- High-yield savings account
- Commission-free stock and ETF investing
- Automated investing solutions
- Flexible personal loans
- Traditional, Roth and SEP IRAs
Cons
- No tax loss harvesting available
- No Financial Advisors
OANDA vs M1 Finance: 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.
