eToro
Oanda
eToro vs Oanda
A detailed side-by-side comparison based on our hands-on testing across 8 scoring categories.
eToro and Oanda are both popular choices for forex and CFD traders, but they cater to different needs and experience levels. eToro, founded in 2007 and headquartered in Tel Aviv, Israel, is regulated by FCA, CySEC, ASIC and offers spreads starting from 1.0 pips with a minimum deposit of $50. Oanda, established in 1996 in New York, USA, holds licenses from FCA, ASIC, MAS with spreads from 1.0 pips and a $0 minimum deposit. In our hands-on testing across 8 scoring categories, Oanda scored 8.4/10 overall compared to eToro's 7.8/10, making it the stronger pick for most traders. That said, eToro holds its own with better trading platforms and superior education resources, so your ideal broker depends on what you prioritize in a trading partner.
Key Differences at a Glance
- 📊
Oanda scores 8.4/10 overall vs 7.8/10 for eToro — a 0.6-point difference.
- 💵
Oanda requires just $0 to start, while eToro needs $50 — Oanda is 50x more accessible.
- 📈
eToro offers 3,400+ instruments vs 120+ at Oanda — a massive gap in market coverage.
- 🖥️
eToro runs on eToro Platform, eToro App, while Oanda uses fxTrade, MT4, TradingView — different ecosystems for different trading styles.
- ⚡
The biggest gap is in Trading Costs: Oanda scores 7.5 vs 6.0 for eToro — a 1.5-point difference.
Our Verdict
eToro
Score: 7.8/10 · Wins 3 categories- You're a beginner who values learning resources
- You need advanced trading platforms and tools
- You want access to a wider range of instruments
Oanda
Score: 8.4/10 · Wins 5 categories- You want lower spreads and trading fees
- Top-tier regulation and fund safety are your priority
- Responsive customer support matters to you
- Fast and flexible deposits & withdrawals are important
Oanda takes the lead with an overall score of 8.4/10 compared to 7.8/10, winning in 5 out of 8 scoring categories. Oanda stands out for lower trading costs and stronger regulation, while eToro fights back with better trading platforms and superior education resources.
Detailed Verdict
After testing both brokers with real accounts, Oanda comes out ahead with a 8.4/10 overall rating, winning 5 out of 8 categories. Its strongest area is Regulation & Trust where it scores 9.5/10. Oanda holds Tier 1 regulation, meaning your funds benefit from top-level investor protection including segregated accounts and compensation schemes. eToro is not without merit — it scores 7.8/10 overall and excels in Regulation & Trust (9.0/10), winning 3 categories. Traders who value better trading platforms or superior education resources may find eToro the better fit. For a complete breakdown, read our full Oanda review and eToro review — both include account opening walkthroughs, platform screenshots, and withdrawal test results.
Score Breakdown
Oanda wins by 1.5 points
eToro wins by 0.5 points
Oanda wins by 0.5 points
eToro wins by 0.5 points
Oanda wins by 1.5 points
Oanda wins by 1.5 points
Oanda wins by 1.0 points
eToro wins by 1.5 points
Full Feature Comparison
| Feature | ||
|---|---|---|
| Overall Score | 7.8/10 | 8.4/10 ✓ |
| Min Deposit Lower is better | $50 | $0 ✓ |
| Max Leverage | 1:30 | 1:200 |
| Spreads From | 1.0 pips | 1.0 pips |
| Platforms | eToro Platform, eToro App | fxTrade, MT4, TradingView |
| Regulation | FCA, CySEC, ASIC | FCA, ASIC, MAS |
| Founded Older track record highlighted | 2007 | 1996 ✓ |
| Markets | 3,400+ ✓ | 120+ |
Fees & Costs
When it comes to trading costs, Oanda has the edge with a score of 7.5/10 versus 6/10 for eToro. eToro offers spreads starting from 1.0 pips, while Oanda starts from 1.0 pips. The minimum deposit at eToro is $50, compared to $0 at Oanda. Both brokers operate primarily on a spread-based pricing model, though actual costs vary by account type and instrument. For high-volume traders, even small spread differences add up significantly over time, making this an important category to weigh carefully.
Trading Platforms
eToro scores 8.5/10 for platforms compared to 8/10 for Oanda. eToro provides eToro Platform, eToro App, while Oanda offers fxTrade, MT4, TradingView. The choice of platform affects your charting, order execution speed, and available technical indicators. Traders who rely on MetaTrader's algorithmic trading capabilities should check which MT4/MT5 features each broker supports, including custom indicators and expert advisors.
Regulation & Safety
Regulation is crucial for fund safety. eToro is regulated by FCA, CySEC, ASIC (Tier 1), while Oanda holds licenses from FCA, ASIC, MAS (Tier 1). eToro scores 9/10 and Oanda scores 9.5/10 in this category. Tier 1 regulators like FCA, ASIC, and CySEC offer the strongest investor protection, including segregated client funds and compensation schemes. Always verify your broker's specific license for your jurisdiction before opening an account.
Education & Research
For learning resources, eToro leads with 8/10 compared to 7.5/10. Quality education materials can shorten your learning curve significantly. Look for brokers offering structured courses, live webinars, and practice demo accounts. eToro and Oanda both provide demo accounts for risk-free practice, but the depth of educational content varies. Beginners should prioritize this category when choosing between the two.
Customer Support
eToro offers 24/5 Live Chat, Email, Ticket System and scores 6.5/10, while Oanda provides 24/5 Live Chat, Email, Phone with a score of 8/10. Reliable support becomes critical during market volatility or when you encounter account issues. Look for brokers with 24/5 or 24/7 availability, multiple contact channels, and support in your preferred language.
Deposit & Withdrawal
eToro scores 7/10 for deposits and withdrawals, while Oanda scores 8/10. eToro accepts Bank Transfer, Credit Card, PayPal, Skrill, Neteller, and Oanda supports Bank Transfer, Credit Card, PayPal. Processing times, fees, and available currencies vary. eToro requires a minimum deposit of $50 versus $0 for Oanda. Always check withdrawal conditions and any potential fees before funding your account.
Which Broker Is Right for You?
Choose eToro if you...
- You're a beginner who values learning resources
- You need advanced trading platforms and tools
- You want access to a wider range of instruments
Choose Oanda if you...
- You want lower spreads and trading fees
- Top-tier regulation and fund safety are your priority
- Responsive customer support matters to you
- Fast and flexible deposits & withdrawals are important
🗳️ Which Broker Do You Prefer?
Cast your vote — see what other traders think
Frequently Asked Questions
Is eToro better than Oanda?
Oanda scores higher overall (8.4/10 vs 7.8/10), winning 5 of 8 categories. However, eToro is stronger in better trading platforms and superior education resources. The best choice depends on what matters most to your trading style.
Which has lower fees, eToro or Oanda?
Oanda scores higher for trading costs. eToro offers spreads from 1.0 pips with a $50 minimum deposit, while Oanda starts from 1.0 pips with $0 minimum. Actual trading costs depend on your instrument, volume, and account type.
Is eToro safe to trade with?
eToro is regulated by FCA, CySEC, ASIC and scores 9/10 for regulation. Oanda is regulated by FCA, ASIC, MAS with a score of 9.5/10. Both hold recognized licenses, but verify the specific entity covering your region.
Which has better trading platforms, eToro or Oanda?
eToro scores 8.5/10 for platforms. eToro offers eToro Platform, eToro App, while Oanda provides fxTrade, MT4, TradingView. Your ideal platform depends on whether you prefer proprietary tools, MetaTrader, or third-party solutions.
What's the minimum deposit for eToro vs Oanda?
eToro requires a minimum deposit of $50, while Oanda requires $0. Oanda has the lower entry barrier, making it more accessible for beginners or those testing with smaller amounts.
Ready to Start Trading?
Open a free account with either broker and start trading today.