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OANDA vs Plus500: 2023 Comparison

Franklin Carneiro da Silva| Updated: September 11, 2023

Are you confused about whether to choose OANDA vs Plus500 as a broker for your investing needs?

In this side-by-side comparison, we analyse OANDA vs Plus500 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 Plus500: In a Nutshell

OANDA logo
Visit OANDAAsset 3
Ideal for
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.

OANDA vs Plus500: 2023 Comparison 1
Visit Plus500Asset 3

82% of retail CFD accounts lose money.

Ideal for
Commission-free CFDs trading and low spreads

Plus500 is an online broker offering a wide range of financial products, including real shares and CFDs on forex, indices, shares, commodities, options, ETFs, and cryptocurrencies.

There are two distinct account types: Plus500 CFD, which only focuses on CFD products; Plus500 Invest, where you can trade stocks (real shares).

The web platform you will use is the WebTrader, Plus500’s proprietary platform, offering a stable trading experience and easy access from multiple devices.

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

Plus500

Pros

  • Easy-to-use and responsive platform
  • Low spreads
  • No dealing commissions
  • Demo Account
  • Top-tier regulators

Cons

  • No ETF offering
  • Inactivity fee ($10 per month after no login activity in 3 months)
  • High overnight funding fees
  • Very little research and education provided

OANDA vs Plus500: Side-by-side Comparison

OANDA logo
OANDA vs Plus500: 2023 Comparison 2
  •  
  • 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)
  • OANDAAsset 3
  • General Information
  • Founded in1996
  • Demo Account
  • Account Minimum$0
  • Interest on unninvested cash (annually)0%
  • Products
  • Stocks
  • ETFs
  • Bonds
  • Funds
  • Options
  • Futures
  • CFDs*On Stocks, ETFs, Indices, Commodities and Crypto
  • Leverage Products
  • Forex
  • Cryptocurrencies
  • Commodities
  • Fees
  • US stocks$0
  • EU stocksNot Applicable
  • ETFsNot Applicable
  • CryptocurrenciesNot Applicable
  • Custody Fee$0
  • Inactivity Fee€10 if there has been no trading activity for the last 12 months.
  • Withdrawal Fee$0
  • Connectivity Fee$0
  • Currency Conversion Fee0.50%
  • Security
  • RegulatorsFCA, PFSA, ASIC
  • Investor Compensation Scheme(per person, per institution)

    EU: Up to €20,000 (assets + cash);
    UK: Up to £85,000 (assets + cash)

  • Plus500Asset 3

    82% of retail CFD accounts lose money.

  • General Information
  • Founded in2008
  • Demo Account
  • Account Minimum$100
  • Interest on unninvested cash (annually)0%
  • Products
  • Stocks*On "Plus500 Invest" only.
  • ETFs
  • Bonds
  • Funds
  • Options
  • Futures
  • CFDs*On Forex, Cryptocurrencies, Stocks, Commodities, ETFs, Options and Indices
  • Leverage Products
  • Forex*Through CFDs only
  • Cryptocurrencies*Through CFDs only
  • Commodities*Through CFDs only
  • Fees
  • US stocks$0.006 per share
  • EU stocksIt varies according to each country stock exchange
  • ETFsNot Applicable
  • CryptocurrenciesNot Applicable**0.30% spread on Bitcoin CFD - it varies according to each crypto (Availability subject to regulations and spreads subject to change).
  • Custody Fee$0
  • Inactivity Fee$10/month**After 3 months of login inactivity.
  • Withdrawal Fee$0
  • Connectivity Fee$0
  • Currency Conversion FeeUp to 0.70%
  • Security
  • RegulatorsFCA, CySEC, FSCA, FMA and ASIC.
  • Investor Compensation Scheme(per person, per institution)

    Up to £85,000 for clients under Plus500UK Ltd.

OANDA vs Plus500: Verdict

To summarise, here’s our verdict:

OANDA Best for CFD investors valuing access to MetaTrader 5
Plus500 Best for commission-free CFDs trading and low spreads

Choosing between these two online brokers isn’t always an obvious decision. The differences between OANDA vs Plus500 come from the trading platforms, products, fees, and security. Do you prefer a primary trading platform? Do you want to invest in ETFs only? Do you value security more?

Ultimately, the best online broker for you will depend on your profile, personal preferences, and objectives. Explore the websites above and decide for yourself!

Want to know more about OANDA vs Plus500? Explore our in-depth broker reviews, comparison table, and finder tool.

Feel free to leave your comments and feedback in the comments below – we’re happy to help!

Franklin Carneiro da Silva
Co-Founder & Fintech Analyst

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.

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