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Oanda vs Plus500: Comparison and Analysis

Written by Filippo Ucchino Fact-Checked by Luca Puddu Publication Date Last Updated
Our verdict · CFD/FX trading

Oanda is better than Plus500 for CFD trading by a small margin, because it has a lower EUR/USD cost (5.85 USD per lot against 8.00 USD) and MetaTrader 4, MetaTrader 5 and TradingView, which Plus500 does not offer. Oanda allows scalping, hedging, expert advisors, VPS and API access, and it has raw spread accounts. Plus500, on the other hand, covers ETFs and has faster account funding and withdrawals (1 day against 2 days). Oanda is regulated by the KNF, the FCA, ASIC, CIRO and the JFSA, with an offshore company regulated by the FSC (British Virgin Islands), while Plus500 is regulated by CySEC, the FCA, ASIC and the DFSA, with an offshore company regulated by the FSA (Seychelles). Oanda and Plus500 both offer a demo account with no expiry. Oanda asks for no minimum deposit at any of its companies, while Plus500 asks for 100.00 USD, except at its Australian company (70.00 USD). Crypto CFDs are offered by both brokers at every company except the UK one.

Our verdict · Real stock investing

Oanda has a small advantage over Plus500 for real stock investing, thanks to lower fees on US stocks (no commission against 0.12 USD) and MetaTrader 4, MetaTrader 5 and TradingView, which Plus500 does not offer. Oanda lets you own ETFs outright, offers futures and has retirement accounts. At Plus500, account funding and withdrawals take 1 day, against 2 days at Oanda. Oanda is regulated by the KNF, the FCA, ASIC, CIRO and the JFSA, with an offshore company regulated by the FSC (British Virgin Islands). Plus500 is regulated by CySEC, the FCA, ASIC and the DFSA, with an offshore company regulated by the FSA (Seychelles). Both brokers have a demo account with no expiry. Plus500 asks for a minimum deposit of 100.00 USD at its European, UK, UAE and offshore companies and 70.00 USD at its Australian company, while Oanda asks for no minimum deposit.

Scores, winners and data below compare these brokers as CFD/FX brokers (leveraged trading on forex, indices, commodities and crypto), using the data of Oanda's Poland entity and Plus500's Cyprus entity. Scores, winners and data below compare these brokers as stock brokers (real shares and ETFs you own outright), using the data of Oanda's Poland entity and Plus500's Cyprus entity.

Best overall Best overall

Oanda

CFDCFD Oanda offers CFD trading: leveraged contracts that follow the price of an asset without owning it. Switch the comparison to CFD/FX to rate it on that. FXFX Oanda offers forex trading: currency pairs such as EUR/USD, traded with leverage. Forex is rated together with CFDs, on the CFD/FX side. StocksStocks Oanda lets you buy real assets that you own outright. Switch the comparison to Stocks to rate it on that.
Oanda review ›
82CFD/FXOverall score Oanda scores 82/100 for CFD/FX trading. The overall score is calculated from the data in this comparison across 12 areas. 77StocksOverall score Oanda scores 77/100 for stock investing. The overall score is calculated from the data in this comparison across 12 areas.
Open Account

76.6% of retail investor accounts lose money when trading CFDs with this provider.

Plus500

CFDCFD Plus500 offers CFD trading: leveraged contracts that follow the price of an asset without owning it. Switch the comparison to CFD/FX to rate it on that. FXFX Plus500 offers forex trading: currency pairs such as EUR/USD, traded with leverage. Forex is rated together with CFDs, on the CFD/FX side. StocksStocks Plus500 lets you buy real assets that you own outright. Switch the comparison to Stocks to rate it on that.
Plus500 review ›
77CFD/FXOverall score Plus500 scores 77/100 for CFD/FX trading. The overall score is calculated from the data in this comparison across 12 areas. 74StocksOverall score Plus500 scores 74/100 for stock investing. The overall score is calculated from the data in this comparison across 12 areas.
Open Account

CFD service. 82% of retail investor accounts lose money

Best for

What we compare A comparison of the kinds of traders Oanda and Plus500 are best suited to, based on what each one actually offers in .
1 / 12

Oanda is better than Plus500 for professional traders, scalpers and algo traders. Long-term investors, swing traders and news traders can choose either Oanda or Plus500.

Best for
Overall score Oanda 82 Best 77 Best Plus500 77 -5 74 -3
Day trading i
Long-term investing i
Professional traders i
High-volume traders i
Scalpers i
Swing traders i
News traders i
Algo traders i
Stock traders i
Crypto traders i
Futures traders i
Options traders i

Regulation

What we compare A comparison between the financial authorities that supervise Oanda and the ones that supervise Plus500.
2 / 12

Oanda and Plus500 are both regulated by top-tier authorities, Oanda by KNF, ASIC (Australia) and the CFTC (United States) and Plus500 by CySEC, ASIC (Australia) and the FCA (United Kingdom).

Regulation
Section score Oanda 100 100 Plus500 100 100
Tier-1 regulators
ESMA (European Union) i KNF (Poland) CySEC (Cyprus)
FCA (United Kingdom) i
ASIC (Australia) i
CFTC (United States) i
NFA (United States) i
SEC (United States) i
CIRO (Canada) i
MAS (Singapore) i
SFC (Hong Kong) i
JFSA (Japan) i
FINMA (Switzerland) i
Tier-2 regulators
FMA (New Zealand) i
CBR (Russia) i
FSCA (South Africa) i
DFSA (Dubai) i
CSRC (China) i
ISA (Israel) i
LFSA (Malaysia) i
JSC (Jordan) i
CMA (Kenya) i
Tier-3 regulators
FSA (Seychelles) i
MMA (Maldives) i
SCB (Bahamas) i
FSC (Mauritius) i
VFSC (Vanuatu) i
FSC (Belize) i
CIMA (Cayman Islands) i
SV FSA (Saint Vincent and the Grenadines) i
FSRC (St. Kitts & Nevis) i
BMA (Bermuda) i
BVI FSC (British Virgin Islands) i
EDR (External Dispute Resolution) i

Safety

What we compare A comparison of the tools and services that Oanda and Plus500 have in place to protect your money in .
3 / 12

Both Oanda and Plus500 offer segregated client funds and an investor compensation scheme.

Safety
Section score Oanda 79 -6 79 -6 Plus500 85 Best 85 Best
Company info
Is it publicly traded i
Is it a bank i
Year founded i 1996 2008
Parent company i OANDA Group Plus500 Ltd.
CEO i Gavin Bambury David Zruia
Money safety
Segregated client funds i
Two-factor authentication i
Investor compensation scheme i
Additional money insurance i
Partner bank i mBank N/A
Brand power
Number of customers worldwide i 30,000,000
Annual revenue i USD 16,900,000 USD 768,300,000
Monthly website search traffic i

Costs

What we compare A comparison of what it costs to trade with Oanda and with Plus500 in , both on each trade and on holding the account.
4 / 12

Oanda is better than Plus500 for CFD/FX costs, because Oanda is cheaper on EUR/USD, at 5.85 USD per lot (against Plus500's 8 USD), has tighter gold CFD spreads, at 0.56 points (against Plus500's 0.75 points), and charges lower Bitcoin CFD fees, at 62.1 USD (against Plus500's 118.34 USD). Neither Oanda nor Plus500 charges account maintenance fees or deposit fees.

Plus500 is better than Oanda for real stock costs. Neither Oanda nor Plus500 charges account maintenance fees or deposit fees.

Costs
Section score Oanda 72 Best 67 -13 Plus500 64 -8 80 Best
Broker fees
Deposit fees i
Withdrawal fees i
Overnight fees i
Inactivity fees i
Currency conversion fees i
Discounts on volume i
Real time market data fee i
Dividend withholding i
Account opening fees i
Account maintenance fee i
Portfolio management fee i
Fees on CFDs
Forex commission per lot i FreeAbout this value. This is the forex commission per lot at OANDA TMS Brokers S.A. (KNF). At Oanda's other companies: Free (Canada, the UK, other accepted countries, Japan), USD 3 (Australia). Free
EUR/USD average standard spread i
1.07 pips
0.8 pips
EUR/USD average raw spread i
0.1 pips
EUR/USD average fixed spread i
EUR/USD total cost per lot i USD 5.85 USD 8
S&P 500 fees (CFD) i 0.7 points 0.7 points
Gold fees (CFD) i 0.56 points 0.75 points
Bitcoin fees (CFD) i USD 62.1 USD 118.34
US stocks fees (CFD) i USD 0.06 Free
Fees on stocks
Stock fee type i Percentage, Free Commission, Percentage, Spread
US stocks fees (real) i Free USD 0.12
ETF fees (real) i USD 2
Management costs i
Connection costs i
Fees on futures
Futures fees per contract i
Platform fees i
Fees on options
Options fees per contract i
Event fees i
Fees on savings plans
IRA opening fee i
IRA maintenance fee i
401k opening fee i
401k maintenance fee i

Available markets

What we compare A comparison of the markets and products you can trade with Oanda and with Plus500 in , and of how many instruments each one gives access to.
5 / 12

Oanda is better than Plus500 for CFD/FX markets, given that Oanda lets you own ETFs outright, which Plus500 does not, and offers futures on crypto and forex, which Plus500 does not. Both Oanda and Plus500 offer CFDs on commodities, crypto, forex, indices and stocks, and let you own stocks outright.

Oanda is better than Plus500 for real stock markets, because Oanda lets you own ETFs outright, which Plus500 does not, and offers futures on crypto and forex, which Plus500 does not. Both Oanda and Plus500 let you own stocks outright, and offer CFDs on commodities, crypto, forex, indices and stocks.

Available markets
Section score Oanda 100 Best 60 Best Plus500 75 -25 15 -45
Total tradable symbols i 1,500 2,800
Currency pairs i
Indices i
Commodities i
Stocks i
ETF i
Cryptocurrencies i
Bonds i
Interest rates i
Portfolios i
CFDs i Commodities, Crypto, Forex, Indices, Stocks Commodities, Crypto, ETF, Forex, Indices, Stocks
Futures i Crypto, Forex
Options i
Assets you can own i Stocks, ETF Stocks

Platform

What we compare A comparison of the trading platforms that Oanda and Plus500 make available to their clients in .
6 / 12

Oanda is better than Plus500 for platforms, since Oanda offers MetaTrader 5, MetaTrader 4 and TradingView, which Plus500 does not. Both Oanda and Plus500 offer a proprietary platform and one-click trading.

Platform
Section score Oanda 91 Best 91 Best Plus500 75 -16 75 -16
Proprietary platform i
MetaTrader 4 i
MetaTrader 5 i
cTrader i
Social trading platform i
Copy trading platform i
ZuluTrade i
TradingView i
Duplitrade i
Mirror Trader i
NinjaTrader i
AutoChartist i
Real time pricing i
5 digit pricing i
One-click trading i

Mobile

What we compare A comparison of the mobile apps of Oanda and Plus500 in , and of what each one lets you do from your phone.
7 / 12

Oanda is better than Plus500 for mobile trading, as Oanda offers the MetaTrader 5 app and the MetaTrader 4 app, which Plus500 does not. Oanda and Plus500 both offer a proprietary mobile app and mobile price alerts.

Mobile
Section score Oanda 86 Best 86 Best Plus500 80 -6 80 -6
Proprietary app i
Social trading app i
Copy trading app i
MetaTrader 4 app i
MetaTrader 5 app i
cTrader app i
Mobile trading signals i
Mobile alerts i
Mobile charting tools i
Mobile drawing tools i
Mobile watchlist i
Smartwatch app i

Trading features

What we compare A comparison of the trading tools and strategies that Oanda and Plus500 allow on their platforms in .
8 / 12

Oanda is better than Plus500 for CFD/FX trading features, as Oanda offers tier-1 liquidity providers, which Plus500 does not, and allows for scalping and automated trading. Both Oanda and Plus500 offer negative balance protection and trailing stops.

There is little between Oanda and Plus500 on real stock trading features, as both offer trailing stops. Oanda goes a step further, as it offers tier-1 liquidity providers, and allows for automated trading.

Trading features
Section score Oanda 83 Best 77 Plus500 67 -16 76 -1
Trade execution
Broker type i Agency Agency
Average execution time i
Slippage occurrence i
Requotes occurrence i
Tier-1 liquidity providers i
PFOF i
Leverage
Major FX pairs leverage i 30:1About this value. This is the major fx pairs leverage at OANDA TMS Brokers S.A. (KNF). At Oanda's other companies: 50:1 (Canada), 30:1 (Australia, the UK), 888:1 (other accepted countries), 25:1 (Japan). 30:1About this value. This is the major fx pairs leverage at Plus500CY Ltd (CySEC). At Plus500's other companies: 30:1 (the UAE, Australia, the UK), 300:1 (other accepted countries).
Minor/Exotic FX pairs leverage i 20:1About this value. This is the minor/exotic fx pairs leverage at OANDA TMS Brokers S.A. (KNF). At Oanda's other companies: 33:1 (Canada), 20:1 (Australia, the UK), 888:1 (other accepted countries), 25:1 (Japan). 20:1About this value. This is the minor/exotic fx pairs leverage at Plus500CY Ltd (CySEC). At Plus500's other companies: 20:1 (the UAE, Australia, the UK), 300:1 (other accepted countries).
Major indices leverage i 20:1About this value. This is the major indices leverage at OANDA TMS Brokers S.A. (KNF). At Oanda's other companies: 10:1 (Canada, Japan), 20:1 (Australia, the UK), 888:1 (other accepted countries). 20:1About this value. This is the major indices leverage at Plus500CY Ltd (CySEC). At Plus500's other companies: 20:1 (the UAE, Australia, the UK), 150:1 (other accepted countries).
Minor indices leverage i 10:1About this value. This is the minor indices leverage at OANDA TMS Brokers S.A. (KNF). At Oanda's other companies: 10:1 (Canada, Australia, the UK, Japan), 200:1 (other accepted countries). 10:1About this value. This is the minor indices leverage at Plus500CY Ltd (CySEC). At Plus500's other companies: 10:1 (the UAE, Australia, the UK), 150:1 (other accepted countries).
Gold leverage i 20:1About this value. This is the gold leverage at OANDA TMS Brokers S.A. (KNF). At Oanda's other companies: 5:1 (Canada), 20:1 (Australia, the UK, Japan), 888:1 (other accepted countries). 20:1About this value. This is the gold leverage at Plus500CY Ltd (CySEC). At Plus500's other companies: 20:1 (the UAE, Australia, the UK), 150:1 (other accepted countries).
Commodities leverage i 10:1About this value. This is the commodities leverage at OANDA TMS Brokers S.A. (KNF). At Oanda's other companies: 17:1 (Canada), 10:1 (Australia, the UK), 100:1 (other accepted countries), 20:1 (Japan). 10:1About this value. This is the commodities leverage at Plus500CY Ltd (CySEC). At Plus500's other companies: 10:1 (the UAE, Australia, the UK), 150:1 (other accepted countries).
Equities leverage i 5:1About this value. This is the equities leverage at OANDA TMS Brokers S.A. (KNF). At Oanda's other companies: 5:1 (Australia, the UK), 20:1 (other accepted countries). 5:1About this value. This is the equities leverage at Plus500CY Ltd (CySEC). At Plus500's other companies: 5:1 (the UAE, Australia, the UK), 20:1 (other accepted countries).
Cryptocurrency leverage i 2:1About this value. This is the cryptocurrency leverage at OANDA TMS Brokers S.A. (KNF). At Oanda's other companies: 2:1 (Australia), 10:1 (other accepted countries). 2:1About this value. This is the cryptocurrency leverage at Plus500CY Ltd (CySEC). At Plus500's other companies: 2:1 (the UAE, Australia), 5:1 (other accepted countries).
Risk management
Stop losses i
Take profits i
Limit orders i
Trailing stop i
Margin call i
OCO orders i
Guaranteed stop loss i
Negative balance protection i
Minimum trade size (FX) i 0.01 lots 0.01 lots
Minimum trade size (stocks) i USD 0 USD 0
Fractional stocks i
Trading compliance
Scalping strategies allowed i
Hedging strategies allowed i
Automated trading strategy allowed i
EAs use allowed i
HFT strategy allowed i
VPS use allowed i
API use allowed i
Price scraping allowed i
FIFO rule applies i

Account types

What we compare A comparison of the kinds of account you can open at Oanda and at Plus500 in , and of who each one is meant for.
9 / 12

Oanda is better than Plus500 for CFD/FX account types, since Oanda offers a corporate account and a raw spread account, which Plus500 does not. Oanda and Plus500 both offer a demo account and a professional traders account.

Oanda is better than Plus500 for real stock account types, as Oanda offers a corporate account, a margin investing account and a retirement account, which Plus500 does not. Both Oanda and Plus500 offer a demo account and an unlimited demo account.

Account types
Section score Oanda 53 Best 50 Best Plus500 38 -15 25 -25
Demo account i
Unlimited demo account i
Standard account i
Micro account i
Cent account i
Nano account i
Raw spread account i
ECN account i
Swap-free account i
Islamic account i
Professional traders account i
Fixed spread account i
Spread betting account i
Copy trading account i
Corporate account i
Managed account i
Stock investing account i
Margin investing account i
Savings account i
Retirement account i

Account opening

What we compare A comparison of what it takes to open and fund an account with Oanda and with Plus500 in .
10 / 12

Plus500 is better than Oanda for account opening, since Plus500 offers 3 account base currencies (against Oanda's 1), supports e-wallets, which Oanda does not, and credits deposits faster, within 1 day (against Oanda's 2 days). That said, Oanda asks for no minimum deposit at all (against Plus500's 100 USD).

Account opening
Section score Oanda 65 -4 65 -4 Plus500 69 Best 69 Best
Minimum deposit i USD 0 USD 100About this value. This is the minimum deposit at Plus500CY Ltd (CySEC). At Plus500's other companies: USD 100 (the UAE, other accepted countries, the UK), USD 70 (Australia).
Minimum withdrawal i USD 0 USD 100
Wire transfers i
Credit cards i
Debit cards i
eWallets i PayPal, SkrillAbout this value. This is the ewallets at Plus500CY Ltd (CySEC). It is different at Plus500's companies in the UAE and the UK.
Local payment methods i
Account base currencies i USDAbout this value. This is the account base currencies at OANDA TMS Brokers S.A. (KNF). It is different at Oanda's companies in Australia. AUD, EUR, USDAbout this value. This is the account base currencies at Plus500CY Ltd (CySEC). It is different at Plus500's companies in Australia.
Deposit waiting time i up to 2 business days up to 1 business days
Withdrawal waiting time i up to 2 business days up to 1 business days
Bonus program i

Customer care

What we compare A comparison of the customer support of Oanda and Plus500 in , in how it can be reached and how fast it answers.
11 / 12

Plus500 is better than Oanda for customer care, as Plus500 offers customer support in 29 languages (against Oanda's 5), and has a website in 29 languages (against Oanda's 7). Oanda and Plus500 both offer live chat and email support.

Customer care
Section score Oanda 46 -12 46 -12 Plus500 58 Best 58 Best
Number of languages supported i 7 29
Website languages i German, English, French, Italian, Russian, Spanish, Chinese Arabic, Bulgarian, Czech, Danish, German, English, Estonian, Finnish, French, Hebrew, Croatian, Hungarian, Icelandic, Latvian, Lithuanian, Maltese, Malay, Dutch, Norwegian, Polish, Portuguese, Romanian, Russian, Slovak, Slovenian, Spanish, Swedish, Turkish, Chinese
Website available in English i
Customer support languages i German, English, Russian, Spanish, Chinese Arabic, Bulgarian, Czech, Danish, German, English, Estonian, Finnish, French, Hebrew, Croatian, Hungarian, Icelandic, Latvian, Lithuanian, Maltese, Malay, Dutch, Norwegian, Polish, Portuguese, Romanian, Russian, Slovak, Slovenian, Spanish, Swedish, Turkish, Chinese
Customer support in English i
Call back request i
Email support i
Phone support i
Live chat i
Priority customer support i
Dedicated account manager i
Cash sweep i
Stock lending i
Distributes proceeds i
Tax withholding agent i
Tax assistance i

Learning

What we compare A comparison of the educational material that Oanda and Plus500 provide to their clients in .
12 / 12

Oanda and Plus500 are equally good for learning, as both offer education for advanced traders and webinars.

Learning
Section score Oanda 80 80 Plus500 80 80
Education
Education center i
Education for beginners i
Education for advanced traders i
Webinars i
Tutorials i
Glossary i
Research
Economic calendar i
Traders' sentiment i
Daily market commentary i
Daily trading ideas i
News via social media i
Professional reports i
Watchlist i
Oanda
Open Account 76.6% of retail investor accounts lose money when trading CFDs with this provider.
Plus500
Open Account CFD service. 82% of retail investor accounts lose money
Our verdict

Oanda vs Plus500: which one should you choose?

Oanda

CFD/FX Choose Oanda if you want a CFD/forex broker with low trading costs and a choice of trading platforms.

Stocks Choose Oanda if you want a share dealing service with commission-free US stocks, retirement accounts and TradingView.

Open Account 76.6% of retail investor accounts lose money when trading CFDs with this provider.
Plus500

CFD/FX Choose Plus500 if you want an online CFD broker with ETFs, guaranteed stop-loss orders and fast withdrawals.

Stocks Choose Plus500 if you want a stock brokerage service.

Open Account CFD service. 82% of retail investor accounts lose money

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