Oanda VS eToro: Comparison Summary

Oanda VS eToro: Comparison Summary
Oanda VS eToro: Comparison Summary

At the Oanda broker, you can trade in a total you can find more than 89 instruments. At the eToro broker, you can trade a total of 49 currency pairs. In total, you will find more than 1000+ instruments. Broker Oanda provides a Web Platform, Social Trading / Copy-Trading. What is the difference between Oanda vs eToro brokers?

What is eToro?

In the brokerage world, eToro is one of the most well-known names. The platform is available in over 80 countries worldwide, offering all types of assets, from traditional currencies to digital currencies. eToro has been around for 15 years, founded in 2006 in Israel. Since then, it has also opened an office in London and, in particular, has expanded rapidly in recent years.

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What is OANDA?

OANDA is one of the oldest brokers still active today, with a history of more than 20 years. It first appeared in 1997, when its first data source was launched. Since then, it has operated as a provider of foreign exchange information and, over time, has grown its business into an award-winning global company. He stays focused on forex trading, data solutions, and trading technology.

Customer Support Comparison

Customer support is an important part of any brokerage service. It must be there for users when they encounter problems or need some service aspect to be clarified.

eToro support

eToro is generally known for its excellent customer support, which is trustworthy, competent, and easy to reach. The platform does not have a live chat but has a ticket system that allows users to quickly and easily select problematic aspects and describe the problem in their own words.

OANDA support

OANDA support page is very well organized. There are two options available on the Contact Us page: Frequently Asked Questions (FAQ) and Global Office. For more serious matters, you can go to the Global Offices section, where you will be provided with contact details for offices in Asia, Europe, and North America.

Available cryptocurrency trading market

Naturally, not all cryptocurrency trading platforms are created equal. Let’s see how the two stack up in cryptocurrency support.

Fiat to Crypto Trading Pairs

When buying cryptocurrency for fiat, eToro is the obvious way to go. In addition to the US dollar, Canadian dollar, Australian dollar, Euro, Swiss franc, and Japanese yen, the company presently supports over 120 other cryptocurrencies. 

As for OANDA, they do not offer cryptocurrency on their platform but do have Bitcoin CFDs, in case you want to invest in cryptocurrency derivative contracts instead of real currency.

Cryptocurrency to cryptocurrency trading pairs,

Unfortunately, neither eToro nor OANDA offers crypto-to-crypto trading. eToro only has fiat-to-crypto, whereas OANDA only offers Bitcoin CFDs.

At this point, you should be fairly familiar with OANDA and eToro, and be able to decide which platform best suits your needs.

OANDA has advantages, such as low fees baked into spreads, no minimum deposit, and no need to upload documentation to prove your identity if you deposit less than $9,000.

However, eToro could be a more user-friendly platform, making it a better choice for new traders who are struggling to break into the world of trading for the first time and don’t want to end up on an intimidating platform meant for the most experienced members of the trading industry.

Frequently asked questions

1. Are eToro and OANDA good brokers?

Yes, OANDA has been around for almost 25 years, and only a broker can last that long if they are good enough to meet the needs of their users. Meanwhile, eToro has attracted more than 20 million users from over 140 countries, which proves its quality.

2. Is OANDA good for Forex trading?

OANDA has a large selection of currency pairs, and most traders use them for this purpose. The broker has focused on forex for decades, so they have good deals, a lot of experience, and are generally considered one of the best options in their field.

3. How much should I deposit to trade on eToro and OANDA?

The minimum deposit on eToro is $50. OANDA has no minimum deposit, so you can start trading with a penny and move on. However, please note that you will need to verify your identity if you deposit more than $9,000.

4. Is eToro free?

Opening an account with eToro is free, and there are no management or ticket fees. There are no trading fees for certain assets, while there is a $5 withdrawal fee for any amount. Please note that FX rates apply to non-US dollar deposits and withdrawals.

4XC review and Tutorials

4XC features a wide selection of Forex and CFD instruments on MT4 and MT5 and additional reconciliation options for competent traders. Before joining and logging in, audit this broker to get details of deposit and withdrawal techniques, different settings for invites without deposit, demo registration, etc.

4xC details

The 4XC is a trademark of Geomatrix Limited, an organization located in the Cook Islands and controlled by the Financial Supervisory Commission (FSC).

4xC has more than twenty years of involvement in all financial business sectors, providing access to indices, forex commodities, and cryptocurrencies on the MetaTrader platform. The broker offers additional tools for leading traders, including PAMM registration and a mirror trading platform on social media.

Trading platform

MetaTrader 4

The MT4 platform is one of the top decisions among many traders as it offers tools to help with algorithmic trading. Clients appreciate the many custom graphic elements and cues and the various periods for investing in exact value development.

Traders can also execute progressive orders using risk management tools and access a complete history of trades. MT4 can be entered directly from the site and used with Windows laptops.

MetaTrader 5

As a replacement for MT4, the MT5 platform is richer in components and is ideal for experienced traders. The platform offers a wider range of leads and timeframes while supporting economic calendars, market-depth insights, and local area talks. Moreover, MT5 is accessible for download on Windows PC.

4xC market

4XC proposes more than 50 currency pairs. That includes majors, minors, and exotics. Also on offer are 11 stock indices, precious metals such as gold and silver, oil, and a small number of cryptocurrencies. Customer surveys praise the variety of available instruments. Still, stock trading would be a welcome expansion.