Oanda vs Trading 212 - Fees Review included
Which broker is better Oanda or Trading 212? Our expert assessment conducted according to TU’s own methodology showed that Oanda is one of the top brokers in the financial market with the TU Overall Score of 5.28 out of 10. Trading 212 is one of the top brokers in the financial market with the TU Overall Score of 4.89 out of 10. Find out more about TU Overall Score.
| Feature | Oanda | Trading 212 |
|---|---|---|
Overall |
4.4 |
3.9 |
5 |
4.5 |
|
4.5 |
3.5 |
|
3.5 |
4.7 |
|
Investment Instruments |
4.1 |
1 |
Platforms and Charting Tools |
4.8 |
2.8 |
Deposit and Withdrawal |
4.2 |
4.1 |
Research |
4.7 |
3.7 |
Education |
4.5 |
3.8 |
Support |
4.8 |
3.9 |
Bonuses |
4.6 |
1 |
|
|
Oanda vs Trading 212: Pros and Cons
Olsen & Associates, also known as OANDA, is a US-registered company set up to offer a plethora of financial services to clients around the world. Its history goes as far back as 1996, and it is now under regulation in four jurisdictions. The broker has licenses from different regulators, of which the United Kingdom Financial Conduct Authority (FCA) is the major one.
The Trading 212 brokerage company (trading212.com) is registered to do business in London in 2006. Its specialization is the provision of services for investment and active trading in the foreign exchange and stock markets. The company is regulated and licensed by the UK Financial Conduct Authority (FCA) and by CySEC in Europe. The broker does not provide data on awards received during the work.
| Oanda | Trading 212 | |
|---|---|---|
| Overall Pros | Regulated by a range of reputable financial bodies | low level of the minimum deposit |
| Real-time news and fundamental analysis tools | a large selection of trading assets | |
| localized and multilingual phone support | Big choice of Stocks and ETFs | |
| User-friendly platform for new forex traders | UK and EU regulated broker | |
| Outstanding research tools | ||
| Financial information publicly available | ||
| High educational value through written content and videos | ||
| Orders get executed with no requotes | ||
| Deposit minimum as low as $1 | ||
| Overall Cons | No programs offering bonus | lack of investment programs |
| Slow withdrawal of funds | a small number of ways to contact support | |
| the company does not hold contests for traders |
Oanda vs Trading 212: Safety and Regulation
| Regulated By: | Oanda | Trading 212 |
|---|---|---|
US Regulation |
Yes (CFTC, NFA) |
No |
FCA (Great Britain) |
Yes |
Yes |
CySec (Cyprus, EU) |
No |
Yes |
ASIC (Australia) |
Yes |
No |
Other Regulators |
European Union (regulated by the MFSA), Singapore (regulated by the MAS), Canada (regulated by IIROC), Japan (regulated by FSA) |
No |
Oanda vs Trading 212: Trading Conditions
| Trading Conditions | Oanda | Trading 212 |
|---|---|---|
Minimum Deposit |
No minimum deposit |
£1, €1 |
Trading Platforms |
MT4, OANDA, TradingView |
Web platform, a mobile app for iOS and Android |
Max Leverage (Futures) |
1-50 |
1:30 (retail clients), 1:500 (Pro clients) |
Supported Markets |
Forex, CFDs (not for all entetities): Forex, Indexes, Commodities, Metals, Bonds, Cryptocurrencies |
Currency pairs, CFDs on stocks, indices, futures, commodities, ETFs |
Trading assets |
120+ |
over 12,000 stocks and ETFs available in the Invest/ISA accounts and over 5,000 leveraged instruments in the CFD account |
Trading Accounts |
Standard, Core, and Swap-free |
Trading 212 Invest, Trading 212 CFD, ISA (available for UK clients) |
Base Account Currencies |
USD, EUR, HKD, SGD |
GBP, EUR |
Oanda vs Trading 212: Fees
Forex Trading Fees
| Fee | Oanda | Trading 212 |
|---|---|---|
Standard Account EURUSD Average Spread |
1.2 pips |
2.3 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
not offered |
Not supported |
ECN Account EUR Average Spread |
not offered |
Not supported |
CFD Trading Fees
| Fee | Oanda | Trading 212 |
|---|---|---|
CFD Trading Fee |
Floating spread |
Other fees |
Non-Trading Fees
| Fee | Oanda | Trading 212 |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
0,7% if you deposit more than 2000 EUR with debit or credit card |
Withdrawal Fee |
$20 - just for bank transfer |
No |
Inactivity Fee |
After 12 months of inactivity, 10 units of your account’s currency denomination |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Oanda vs Trading 212: Trading Assets
| Asset Name | Oanda | Trading 212 |
|---|---|---|
Overall |
120+trading assets |
over 12000+ |
Forex |
Yes |
Yes |
Stocks |
No |
Yes |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
Yes |
Bonds |
No |
Yes (CFD) |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
Yes (CFD) |
Binary Options |
No |
No |
Oanda or Trading 212: Investment Programs
| Asset Name | Oanda | Trading 212 |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: Trading 212 or Oanda
| Oanda | Trading 212 | |
|---|---|---|
MT4 |
Yes |
No |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
Oanda |
Trading 212 |
Others |
No |
No |
|
|
Oanda vs Trading 212: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Oanda | Trading 212 |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes (not for all markets) |
No |
Crypto |
No |
No |
Oanda vs Trading 212: Research
| Research Type | Oanda | Trading 212 |
|---|---|---|
News Feed |
Yes |
No |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
Oanda vs Trading 212: Education
| Education Type | Oanda | Trading 212 |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
Yes |
No |
Videos |
Yes |
Yes |
Cent account |
Yes |
No |
Trading 212 vs Oanda: Support
| Support Features | Oanda | Trading 212 |
|---|---|---|
Working Days |
24/5 |
24/7 |
Yes |
Yes |
|
Phone |
Yes |
No |
Online chat |
Yes |
No |
Other |
No |
feedback form |
Oanda vs Trading 212: Forex Bonuses and Promo
| Promo | Oanda | Trading 212 |
|---|---|---|
Forex Bonus |
Yes (Not for all countries) |
No |
Affiliate Program |
Yes |
Promo offer. It works according to the principle of a standard referral program. A client of the company becomes a partner of a broker, receives an individual referral link and attracts new users to the company. The referrer gets a bonus for each new active trader. Trading 212 provides a tiered referral program that rewards every client and friend they refer with a free share (or a share of the whole share) up to €100/GBP. |
Other Promos |
Rebates and commission markdowns |
|
|
|
Top 5 Reviews on Trading 212
-
Comment
I haven’t traded or registered with Trading 212 yet, but I think I should try, since the company is interesting. I am currently studying reviews about this broker. So far nothing bad has happened.
-
Comment
I like trading with trading 212. The conditions are normal. The minimum deposit is really minimal - €1, but it is better to make a normal deposit, you understand. The platform works properly too. I checked the quotes, they correspond to the market. Sometimes, opening and closing of trades is not fast enough, but it is within reasonable time.
-
Comment
I have been trading with Trading 212 for almost 2 years. The broker is not bad and it withdraws money. However, there are some problems: there are requotes and the platform freezes sometimes. But the broker is regulated, which is a plus! I’m currently trading with another company, but I have this one in mind.
-
Comment
Withdrawals and execution are fine at Trading 212. Now I make a profit, but there were different situations. I decided to trade here, as they withdraw money without any problems.
-
Comment
I came to trading 212 a couple of years ago, it’s a worthy company. What I like most is the respectful attitude towards the trader. The support has helped me more than once; the operators regularly advise me on all issues that arise. This helps me a lot in trading.
Top 5 Reviews on Oanda
-
Comment
I can describe OANDA as one of the most proper brokers on the currency market. It works quickly, there are no failures, and no market movements have a significant impact on it. I'm safe here.
-
Comment
OANDA is a good company and I plan to continue trading with them. I started with a demo account and then switched to a live one with a small deposit. OANDA successfully passed my tests in trading and withdrawals. I easily withdraw profits to my bank card.
-
Comment
I got acquainted with the OANDA broker online. Initially, I read reviews about it and decided to give this platform a try. If you do everything correctly, you can pass the verification process, although it does take some time. Then, the actual trading process began. The conditions at OANDA are average, so I can give this broker a decent rating.
-
Comment
The broker OANDA is licensed by reliable regulators, offers a wide range of financial services, boasts years of experience, multiple regulators, and significant awards. There is a vast selection of popular trading instruments, a very low minimum deposit, and qualified technical support. However, the OANDA website occasionally functions poorly. Overall, I currently have no major complaints about trading with this broker.
-
Comment
OANDA offers tight spreads, is licensed, and has a low entry threshold and fast withdrawals. The overall impression of working with this company is positive. I would recommend this broker. Another advantage is that OANDA's client support is excellent.
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FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.