Oanda vs Plus500 - Fees Review included
Which broker is better Oanda or Plus500? 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. Plus500 is one of the top brokers in the financial market with the TU Overall Score of 6.83 out of 10. Find out more about TU Overall Score.
| Feature | Oanda | Plus500 |
|---|---|---|
Overall |
4.4 |
3.7 |
5 |
4.9 |
|
4.5 |
4.4 |
|
3.5 |
4.4 |
|
Investment Instruments |
4.1 |
1 |
Platforms and Charting Tools |
4.8 |
3.3 |
Deposit and Withdrawal |
4.2 |
4.8 |
Research |
4.7 |
2.9 |
Education |
4.5 |
2.3 |
Support |
4.8 |
2.4 |
Bonuses |
4.6 |
2.1 |
|
|
Oanda vs Plus500: 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.
Plus500 broker is owned by Plus500UK Ltd, a UK registered company with headquarters in London. The company is regulated by the FCA (UK Financial Conduct Authority). Plus500.com has been an active trading platform since 2008, where traders can trade more than two thousand financial assets. The broker provides its services in Asia and Europe, being also one of the fastest-growing companies that make it possible to trade CFD (contract for differences) contracts.
| Oanda | Plus500 | |
|---|---|---|
| Overall Pros | Regulated by a range of reputable financial bodies | Over 2000 trading CFD instruments |
| Real-time news and fundamental analysis tools | Advanced screeners and analysis tools | |
| localized and multilingual phone support | Free alert service | |
| User-friendly platform for new forex traders | Well regulated CFD 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 | Plus500 does not provide the possibility of passive earnings |
| Slow withdrawal of funds | A ban on scalping, order hedging, and automated trading | |
| the broker does not cooperate with traders from Ukraine, the USA, and several other countries | ||
| Broker don't offer ECN account | ||
| MT4/MT5 trading platforms are not supported |
Oanda vs Plus500: Safety and Regulation
| Regulated By: | Oanda | Plus500 |
|---|---|---|
US Regulation |
Yes (CFTC, NFA) |
No |
FCA (Great Britain) |
Yes |
Yes |
CySec (Cyprus, EU) |
No |
Yes |
ASIC (Australia) |
Yes |
Yes |
Other Regulators |
European Union (regulated by the MFSA), Singapore (regulated by the MAS), Canada (regulated by IIROC), Japan (regulated by FSA) |
Authorised Financial Services Provider #47546 issued by the FSCA in South Africa., Plus500 holds a capital markets services license from the Monetary Authority of Singapore for dealing in capital markets products (License No. CMS100648-1), Regulated by the Seychelles Financial Services Authority (Licence No. SD039) |
Oanda vs Plus500: Trading Conditions
| Trading Conditions | Oanda | Plus500 |
|---|---|---|
Minimum Deposit |
No minimum deposit |
$100 |
Trading Platforms |
MT4, OANDA, TradingView |
WebTrader, Plus500 |
Max Leverage (Futures) |
1-50 |
1-300 |
Supported Markets |
Forex, CFDs (not for all entetities): Forex, Indexes, Commodities, Metals, Bonds, Cryptocurrencies |
CFDs on Forex, Stocks, Commodities, Metals, Cryptocurrencies, options and ETFs |
Trading assets |
120+ |
2000+ |
Trading Accounts |
Standard, Core, and Swap-free |
Real, Demo |
Base Account Currencies |
USD, EUR, HKD, SGD |
USD |
Oanda vs Plus500: Fees
Forex Trading Fees
| Fee | Oanda | Plus500 |
|---|---|---|
Standard Account EURUSD Average Spread |
1.2 pips |
0.9 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 | Plus500 |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | Oanda | Plus500 |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
$20 - just for bank transfer |
No |
Inactivity Fee |
After 12 months of inactivity, 10 units of your account’s currency denomination |
$10 per month after 3 months of inactivity |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Oanda vs Plus500: Trading Assets
| Asset Name | Oanda | Plus500 |
|---|---|---|
Overall |
120+trading assets |
1000+ |
Forex |
Yes |
Yes |
Stocks |
No |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
Yes (CFD) |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
Yes (CFD) |
Futures Trading |
No |
No |
Binary Options |
No |
No |
Oanda or Plus500: Investment Programs
| Asset Name | Oanda | Plus500 |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: Plus500 or Oanda
| Oanda | Plus500 | |
|---|---|---|
MT4 |
Yes |
No |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
Oanda |
Plus500 |
Others |
No |
No |
|
|
Oanda vs Plus500: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Oanda | Plus500 |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes (not for all markets) |
Yes |
Crypto |
No |
No |
Oanda vs Plus500: Research
| Research Type | Oanda | Plus500 |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
No |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
Oanda vs Plus500: Education
| Education Type | Oanda | Plus500 |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
No |
Plus500 vs Oanda: Support
| Support Features | Oanda | Plus500 |
|---|---|---|
Working Days |
24/5 |
24/7 |
Yes |
No |
|
Phone |
Yes |
No |
Online chat |
Yes |
Yes |
Other |
No |
No |
Oanda vs Plus500: Forex Bonuses and Promo
| Promo | Oanda | Plus500 |
|---|---|---|
Forex Bonus |
Yes (Not for all countries) |
No |
Affiliate Program |
Yes |
An affiliate partner earns from $200 to $800 for a referred client who opened a trading account and started trading. The amount of remuneration varies depending on the partner's country of residence |
Other Promos |
Rebates and commission markdowns |
|
|
|
Top 5 Reviews on Plus500
-
Comment
I took a risk and opened a trading account with Plus500. I'm trading in the black. I can say that I’m testing the company, checking it. I asked the support to make a report about a trade, whether they would do it or not. But they sent the report quickly, well done! We'll see what happens with withdrawals. I hope they won’t disappoint me here either)
-
Comment
Plus500 is a good broker. My money was withdrawn in 2 days. I don't communicate with the support team much — I have my own strategy and trading goes as it should. There are a lot of services to choose from. The analytics are good. The only disadvantage is that there were a few failures during a couple of months, but they did not affect my trading critically.
-
Comment
I have been working with Plus500 for a long time. If we evaluate it comprehensively, it’s not bad. There are little things that are not 100% satisfying, but overall, compared to other companies, it’s probably ok. I mean the quotes flow and precision of trades. The rest is fine. I get enough profit from regular trading.
-
Comment
I’ve been working with Plus500 for a few months, but my overall Forex experience is almost two years. I learned about Plus500 from a friend who traded there and recommended it to me. I can say that Plus500 is a normal broker with its strengths and weaknesses. Personally, I like that there are no delays in payments, which is very important to me.
-
Comment
Plus500 may experience payment delays. Once I waited a week. There is such a thing, I think all his clients are used to it))) Everything else is fine. Trade honestly passes, on this point there is nothing to complain about.
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.