| Online Broker | Minimum Deposit | Trading Platforms | Markets | About |
|---|---|---|---|---|
| Oanda | $0 Minimum Deposit | MT4, MT5 Trading Platforms | 800+ Markets To Trade | Oanda is an MT4 and MT5 broker supporting a wide range of trading styles including automated trading About |
| Plus500 | $100 Minimum Deposit | Web Trader & Apps Trading Platform | 2000+ Markets To Trade | Plus500 provides an intuitive platform with a wide range of indicators for traders who execute their own trades About |
Plus500 vs Oanda Comparison
This is a comparison of Oanda Global Markets Ltd based and regulated in the British Virgin Islands vs Plus500. Plus500 was founded in 2008 and has expanded its platform offering over the years. Oanda is a long established MetaTrader broker and was founded in 1996 in Toronto, Canada.
Oanda is a MetaTrader 4 (MT4) and MetaTrader 5 (MT5) broker, offering a wide range of tools for this platform and supporting trading styles including automated trading and scalping and it has tools for traders who execute their own trades on longer time time frames.
Plus500 offers an intuitive platform from watch to desktop for the trader who executes their trades. Plus500 has considerably more markets to trade (including a wide range within categories such as Commodities), as might be expected given their different focus.
Quick comparison
Oanda is an MT4 and MT5 broker with support for a wide range of trading styles, while Plus500 offers a platform and tools for the trader who executes their own trades.
Minimum deposit and account types
The minimum deposit for Plus500 is $100. There is no minimum deposit requirement for Oanda.
- Plus500 provides CFD trading. For all traders, Plus500 offers an Economic Calendar on its website covering news events and market effects and has economic data integrated into its platform. Plus500 offers the +Insights tool which provides real time data abut the activity of other Plus500 traders. Additionally, Plus500 offers a Trading Academy on its website as well as News and Market Insights.
- Oanda offers the following trading account types: Standard, Core, Swap-free, Premium and Premium Core. The Standard is described as suitable for all traders and has no minimum deposit requirement. The Core is described as suitable for EAs and scalpers. The Swap-free account is for traders who do not want to pay or receive interest on their account. All three of these accounts offer the Signal Center by Acuity. The Premium and Premium Core accounts are for high volume traders and require the trader to maintain a $20,000 minimum balance and trade more than $10 million notional or equivalent per month. These two accounts come with an Account Manager, Zero Deposit Fees (and reimburse bank fees), Free withdrawals, Priority support and a Free VPN.
- The Standard account has spreads from 1.1, the Core account has spreads from 0.2 and the Swap-free account offers spreads from 1.6 pips. The Premium account has spreads from 0.8 and the Premium Core account has spreads from 0.2. The Core and Premium Core accounts charges commissions, the Standard, Premium and Swap-free accounts do not. At Oanda Global, verification documents are not needed for gross account deposits below $9000. Tools include MarketPulse, with a range of analysis and market news, technical analysis powered by AutoChartist, an Economic Calendar and MetaTrader plug-in tools. The minimum trade size is 0.01 lots.
Markets
- Plus500 offers CFDs on Forex, Indices, Energy, Metals, Soft Commodities, Cryptocurrencies, Stocks, ETFs, Soft Commodities and Options, with 2000+ available.
- Oanda offers CFDs on Forex, Indices, Energy, Metals, Soft Commodities, Cryptocurrencies and Stocks, with 800+ available.
Cryptocurrency CFDs
- Oanda offers CFDs on Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Stellar, Cardano, Polkadot, Chainlink, EOS, Uniswap, Dogecoin, Binance Coin and Tezos.
- Plus500 provides CFDs on Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Stellar, Cardano, Polkadot, Chainlink, EOS, Uniswap, NEO, IOTA, Polygon, VeChain, Solana, Axie Infinity and Filecoin.
| Broker | Trading Platforms | Description |
|---|---|---|
| Oanda Global Broker | MT4, MT5 Trading Platforms | Oanda Global provides trading on MT4 and MT5, supporting a wide range of styles including scalping and automated trading and traders who make their own trades, providing a wide range of tools Description |
| Plus500 Provider | Web Trader & Apps Trading Platforms | Plus500 offers an intuitive trading platform with a wide range of indicators and fundamental analysis tools Description |
Leverage
Maximum leverage for Plus500 is . Maximum leverage for Oanda (FSC regulated) is 200:1.
Commissions
- Plus500 does not charge commissions.
- Oanda has a commission charge on its Core account of $4 per lot and $3.5 per lot on its Premium Core account.
Online trading platforms
Oanda offers MT4 and MT5. Plus500 provides a user friendly platform.
Foundation
Oanda was founded in 1996, while Plus500 was founded in 2008.
Payment methods
Both support Bank Transfer and Credit/Debit Cards. Plus500 additionally supports PayPal, while Oanda additionally supports Neteller and Skrill.
Why Oanda or Plus500 ?
Traders who execute their own trades can use either. Oanda has a wide range of tools for such traders, from news to analysis. However traders who execute their own trades and want a user friendly intuitive platform with a large number of markets to trade, may wish to consider Plus500. Those who want to run Expert Advisors (EA) online trading robots may wish to consider Oanda, as it is a long established MetaTrader broker supporting this type of trading, as well as scalping. News traders could consider either, as MT4 and MT5 are applicable for this strategy and Plus500 provides fundamental data on its platform.
Comparison summary
- Both offer CFD trading
- Oanda is an MT4 and MT5 broker
- Plus500 provides a user friendly platform
- Both have a range of tools
- Oanda supports automated trading and scalping
- Plus500 provides 2000+ markets to trade
- Oanda has no minimum deposit
