No broker is perfect, and Oanda is no exception. While they do have a lot of pros, there are plenty of reasons why you might be looking for an alternative to Oanda :
- Oanda does not accept Neteller (See Neteller brokers here)
- Oanda does not accept Skrill (See Skrill brokers here)
- Oanda does not offer Islamic accounts (See Islamic brokers here)
- Oanda does not offer micro accounts (See micro account brokers here)
- Oanda does not offer ECN accounts (See brokers with ECN accounts here)
- Oanda does not offer Cryptocurrencies (See brokers that offer Cryptocurrencies here )
- Oanda does not offer Ethereum (See brokers that offer Ethereum here )
- Oanda does not offer MT5 (See MT5 brokers here )
- Oanda does not offer Mac platform (See brokers for Mac users here )
- Oanda does not offer Spread Betting accounts (See Spread Betting brokers here)
- Oanda does not offer negative balance protection (See brokers with negative balance protection here)
Whatever your reason, we’ve got you covered. We analyse over 150 brokers across 80+ factors, from the competitiveness of their spreads to the quality of their trade execution and regulation. Below are ten of the best Oanda alternatives.
Top alternative : City Index
A popular alternative to Oanda is City Index, a brokerage regulated by Financial Conduct Authority, ASIC and MAS and over 35 years in business. Another strong alternative is XTB, which is regulated by Financial Conduct Authority, KNF, and CMB..
Here are some of the key reasons why traders choose City Index and XTB over Oanda :
| Oanda | City Index | XTB | |
|---|---|---|---|
| Trust Score | A | AAA | AAA |
| Regulator | Financial Conduct Authority and ASIC | Financial Conduct Authority, ASIC and MAS | Financial Conduct Authority |
| Min. Deposit | 1 | 100 | 250 |
| Min. Trade | Varies | 1 Lot | 0.01 Lot |
| Platforms | MT4, OANDA Desktop, OANDA Web, OANDA Mobile | MT4, Web Trader, Tablet & Mobile apps | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps |
If you want to read more about City Index, we’ve put together an in-depth City Index review that explores their platform, spreads, and trading conditions in more detail.
Visit City IndexIf City Index isn’t quite right, we’ve also listed ten suitable Oanda alternatives below. You can click between the different instruments to compare each broker’s spreads for that instrument.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
