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 offer Ethereum
- Oanda does not offer MT5
- Oanda does not offer Penny stocks
- Oanda does not offer an ECN account
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: Plus500
The most popular alternative to Oanda is Plus500, a brokerage regulated by the Financial Conduct Authority, UK and 2000+ Tradable Instruments. Another strong alternative is City Index, which is regulated by the Financial Conduct Authority, UK.
Here are some of the key reasons why traders choose Plus500 and City Index over Oanda:
| Oanda | Plus500 | City Index | |
|---|---|---|---|
| Trust Score | A | B | A |
| Regulator | Financial Conduct Authority and ASiC | Financial Conduct Authority (FRN 509909) and Cyprus Securities and Exchange Commission (License No. 250/14) | Financial Conduct Authority, ASiC and MAS |
| Min. Deposit | 1 | 1 | 100 |
| Min. Trade | Varies | Varies | 1 Lot |
| Platforms | MT4, OANDA Desktop, OANDA Web, OANDA Mobile | Web Trader, Tablet & Mobile apps | MT4, Web Trader, Tablet & Mobile apps |
If you want to read more about Plus500, we've put together an in-depth Plus500 review that explores their platform, spreads, and trading conditions in more detail.
Visit Plus500If Plus500 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.
