Compare eToro Vs OANDA: Which is the Better Forex Broker in 2024?
eToro Vs OANDA, which one is better? Both brokers are often compared to each other to find which one comes out to be the better one. What many traders may not comprehend is that the best choice may differ for every one of them, and there's nothing wrong with it. To make it easier for you to decide which one is the best between eToro Vs OANDA, here is the direct comparison:
Feature | eToro | OANDA |
General Rating |
3.66/5 |
3.11/5 |
|
Score | 84 | 77 | |
Trustpilot |
4.3/5 22304 users |
3.6/5 544 users |
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💼 Regulation | |||
❗Info | |||
⌛ Established | 2007 | 1996 | |
💲 Min Deposit | $200 | $0 | |
⚖ Max Leverage | 1:400 | 1:20 | |
🔢 Spread | Fixed | Fixed | |
💸 Commissions | -$50/Mil commission for Core pricing | ||
💡 Min Position | 0.1 lot | 0.00001 lot |
💳 Payment | WebMoney, PayPal, Skrill, Wire transfer, Credit/debit cards, YooMoney, Neteller and UnionPay | Visa, Mastercard, ACH deposits, Bank transfer, Credit/debit cards, Wire transfer, Skrill and Neteller | |
🏢 Office(s) |
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🧩 Demo Account | |||
📁 Segregated Account | |||
🕋 Islamic Account | |||
👨💻 PAMM Account | |||
📈 Managed Account | |||
LAMM Account | |||
MAM Account |
💱 Hedging | |||
🇺🇸 US traders | |||
📫 Requires sending documents via postal mail | |||
🕛 Swaps | |||
☎️ Trading by telephone |
🏆 Trading contests | |||
⚡ Automated trading | |||
💰 Bonus offers | |||
📖 Free education | |||
👔 Affiliate program |
1️⃣ One-click trading | |||
⏱ Trailing stop | |||
⏳ Pending orders |
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🗣 Website Languages | Arabic, German, English, Spanish, Finnish, French, Hungarian, Italian, Dutch, Norwegian, Polish, Portuguese, Romanian, Russian, Swedish, Chinese | English |
🚪 Trade Now | Open eToro | Open OANDA |
Testimonials
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eToro: very user friendly
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eToro: Good place for beginners
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eToro: Platforms very smooth and have reasonable cost
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eToro: There are room for growth
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eToro: KYC is complicated
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eToro: very user friendly
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eToro: Good place for beginners
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eToro: Platforms very smooth and have reasonable cost
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eToro: There are room for growth
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eToro: KYC is complicated
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OANDA: Les risk
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OANDA: OANDA is the best broker I've ever know.
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OANDA: My EA doesn't work very well after some time. So...
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OANDA: My friend recommend me to trade with OANDA. But it...
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OANDA: I realize half on these commentaries are only half reliable....
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eToro: very user friendly
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See More eToro Testimonials
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See More OANDA Testimonials
News
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eToro Updates Traders on Hotly Anticipated Reddit IPO
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eToro Considers US Exchange Listing Despite Strong European Presence
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eToro Unveils 'NDI-Future Tech' Portfolio for Growth-Oriented Investors
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eToro Bolsters French Presence with Appointment of Special Advisor Inès de Dinechin
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eToro Forex Broker Launches App for Apple and Meta Headsets
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eToro Shifts Focus to Potential Public Listing Post-SPAC Merger Cancellation
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Unlock Your Crypto Journey: $10 Welcome Bonus Awaits at eToro
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eToro to Restrict Crypto CFDs Trading in France and Australia
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Barcelona Striker Robert Lewandowski Becomes OANDA Brand Ambassador
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eToro Valuation Plummeted Around 40%
Articles
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How to Navigate eToro's TipRanks for Market Research
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Top 5 eToro Forex Signal Providers by Return Rate
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Top 5 eToro Forex Signal Providers by Number of Copiers
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Diversify Your Trades with eToro's Smart Portfolios
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Experience Trading Like a Pro with eToro's ProCharts
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How to Deposit and Withdraw in eToro
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eToro App Review: Building Your Portfolio on the Go
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Revealing the Opportunity to Invest in Netflix with eToro
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How to Open Account in eToro
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Refer a Friend to eToro and Get a $30 Bonus
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- Comparison List
Which one has the better spread?
Considering that spread is a trading cost, the lower the spread, the better it is for traders. However, spread information among brokers is not easy to get, as not every broker transparently publishes their spreads data.
However, traders can still choose their ideal brokers by the type of their spreads. The most two popular types of spread are fixed and variable. The pros and cons between the two spreads can vary for every trader. In this case, eToro provides their pricing with Fixed spread while OANDA offers Fixed spread.
eToro vs OANDA: Who hosts the best trading platform?
The trading platform is essential as you can't execute a trade without it. Additionally, trading platforms provide price charts and an assortment of analytical tools to help traders with their strategies.
To support their clients, eToro enables trading with eToro Platform, eToro Mobile Trader, Social trading, Web. The offer is supported with One-click trading. In comparison, OANDA provides trading with FxTrade App, MetaTrader 5, Oanda Platform, MetaTrader 4 with the support of .
Is eToro or OANDA better in providing the trading instruments?
It is widely known that forex brokers offer other trading instruments other than currency pairs. The offer gives interesting choices for traders to explore other markets that may be proven beneficial for them and to diversify their trading portfolios.
In this case, eToro supports trading with Forex, Gold & silver, CFD, Stocks, Indexes, Soft commodities, Metals, ETF, Crypto, Oil, while OANDA presents the ability of trading with Forex, Gold & silver, CFD, Crypto, Stock, Indices, Commodities, etf.
In conclusion, deciding the better broker eventually comes down to your consideration. If you are an active trader, it is better to choose a broker with a variable spread that is generally lower than the fixed one. For the trading platform, MetaTrader 4 is the standard choice for every trader. But if you want to have a different experience with a more advanced platform, choose the broker that provides alternative platforms. The same goes for trading instruments; if you want to try delving into different markets, seek for a broker with more options on trading instruments.
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