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eToro vs OANDA
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Compare eToro vs OANDA Side by Side
Can’t decide between eToro and OANDA and have doubts of which broker is actually suitable for your trading needs? Use our detailed comparison guide of eToro Review and OANDA Review, which includes a comparison of the safety and licenses, trading conditions with fees, trading platforms, instruments, deposit & withdrawal conditions, and all the essential details compared side by side.
Summary
| Feature | eToro | OANDA |
|---|---|---|
| Website | //www.etoro.com | //www.oanda.com |
| Founded year | 2006 | 1996 |
| Headquarter | Israel | USA |
| Licenses | UK, Australia, Cyprus, Seychelles | USA, UK, Australia, Canada, Singapore, Japan |
| Minimum Deposit | 50 US$ | 0 US$ |
| Trading Platforms | eToro platform | OANDA Trade, MT4, MT5 |
| Eurusd avg Spread | 0.97 pip | 1.2 pips |
Licenses
| Feature | eToro | OANDA |
|---|---|---|
| Licenses Countries Info (short) |
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Both eToro vs OANDA are well-respected brokers, subject to oversight by established financial regulatory authorities. They each hold multiple top-tier licenses, including those from the UK, and maintain offshore entities to offer their services globally. Notably, both brokers are eligible to provide their services to US and Canada traders
Broker Types
| Feature | eToro | OANDA |
|---|---|---|
| Broker types |
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Both eToro and OANDA operate as Market Makers, which means they facilitate trading by acting as counterparties to their clients’ trades, providing liquidity and market access.
Trading Conditions
| Feature | eToro | OANDA |
|---|---|---|
| Trading Conditions |
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Both eToro vs OANDA trading conditions. OANDA primarily offers variable spreads, while eToro provides a choice between fixed and variable spreads, and notably, eToro does not charge any commissions. Both brokers support a range of trading strategies, including hedging and social trading. However, eToro places restrictions on scalping, so traders who favor this strategy may find OANDA to be a more suitable option.
Fees & Commissions
| Fees & Commissions | eToro | OANDA |
|---|---|---|
| Inactivity Feemonth | $10 | 12 $ |
| Deposit fee | 0$ | 0 $ |
| Withdrawal fee | 5$ | 0 $ |
| Rollover fee eurusd buy 1 lot | -0.00008269 | -0.9 |
| Rollover fee eurusd sell 1 lot | 0.00001841 | 2.75 |
| Avg Eurusd standard acc | 0.97 pip | 1.2 pips |
| Gold | 4.5 | 25.3 |
| Brent oil | 5 | 4 |
| Bitcoin | 102.71 | 51.7 |
OANDA’s fee structure tends to be more favorable, as the broker does not impose non-trading fees such as deposit/withdrawal or inactivity charges. While eToro charges a $10 inactivity fee and a $5 withdrawal fee. However, spreads for eToro are lower than those of OANDA, OANDA’s spread for EUR/USD are aligned with the industry standards which is 1.2 pips
Account Types
| Feature | eToro | OANDA |
|---|---|---|
| Account types |
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eToro classifies its account types according to traders’ experience levels and caters to both retail and corporate requirements. In contrast, OANDA provides a diverse range of trading accounts tailored to accommodate various trading preferences and needs. Additionally, both brokers offer Islamic accounts for traders who adhere to Sharia Law principles.
Markets & Instruments
| Markets & Instruments | eToro | OANDA |
|---|---|---|
| Forex | 52 | 71 |
| Indices | 21 | 16 |
| Commodities | 32 | 31 |
| Cryptocurrencies | 74 | 6 |
| Shares | 3203 | ❌ |
| Bonds | ❌ | 3 |
| Options | ❌ | ❌ |
| Binary options | ❌ | ❌ |
| Spread betting | ❌ | 70 |
| Treasuries | ❌ | ❌ |
| Futures | ❌ | ❌ |
| Etfs | 325 | ❌ |
eToro vs OANDA have similar market offerings, with the primary distinction being that eToro includes ETFs, whereas OANDA provides spread betting options for its UK traders. Furthermore, eToro has a slight advantage in terms of the number of available instruments across various markets.
Trading Platforms
| Feature | eToro | OANDA |
|---|---|---|
| Platforms |
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The platform range of OANDA is larger offering industry-standard MT4 and MT5 as well as its proprietary platform tailored to its users, while eToro offers only its proprietary platform which is more catered to beginners and is not that sophisticated. We recommend that advanced traders consider OANDA as their preferred trading platform.
Deposit & Withdrawal Methods
| Feature | eToro | OANDA |
|---|---|---|
| Payment methods |
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Both eToro and OANDA provide numerous funding options, including credit/debit cards and various e-wallets. Nevertheless, eToro stands out by offering a more extensive array of e-payment methods.
Others
| Feature | eToro | OANDA |
|---|---|---|
| Others |
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Both eToro and OANDA brokers excel in providing excellent customer support through telephone, live chat, and email channels, although their availability is limited to business days. When it comes to educational resources, our assessment reveals that OANDA offers a superior proposition, with educational materials tailored to traders of all experience levels. In contrast, eToro’s educational content is primarily aimed at novice traders. Furthermore, OANDA’s research tools are more advanced and sophisticated.
Conclusion on OANDA vs eToro
In summary, both eToro and OANDA are reliable and well-regulated brokers with global offerings. OANDA is recommended for advanced traders due to its sophisticated tools, multiple trading accounts, and platform variety, including the option for scalping, along with a more favorable fee structure devoid of non-trading commissions. Contrarily, eToro excels in its extensive range of instruments, particularly for cryptocurrency traders, and offers lower spreads. Here is our final recommendation:
- eToro – 🥇Best Broker for Social trading for a number of top traders and Best Industry Social Trading Broker
- OANDA – 🥇 Best OS Forex Brokers giving traders access to speculate on Currency fluctuations with no commission charges.
