OANDA vs Plus500 Forex Broker Comparison
A head-to-head comparison of OANDA and Plus500 across regulation, trading costs, platforms, and editorial scoring.
NFA- and FCA-regulated with strong US/UK coverage, transparent historical pricing, and excellent research.
VS
LSE-listed with zero commission, intuitive proprietary platform, and negative balance protection - though limited research and no MT4.
Our Verdict
OANDA winsClear Winner
OANDA comes out ahead with an editorial score of 4.6/5 compared to Plus500's 4/5.
OANDA
4.6/5
Plus500
4/5
Verdict by Trader Profile
Which broker wins for each type of trader, based on costs, safety, platforms, and editorial scoring.
Best for low cost trading
Recommended
Plus500 offers tighter spreads from 0.6 pips vs 1 pips for OANDA, reducing trading costs.
Best for safety & regulation
It's a tie
Both equally suited
Both brokers show an equally strong safety profile across regulation, fund protection, and client safeguards.
Best for platform choice
Recommended
OANDA offers more exclusive platform options: MetaTrader 4, MetaTrader 5, TradingView, a proprietary platform.
Best for beginners
Recommended
OANDA edges out Plus500 with a higher editorial score (4.6/5 vs 4/5), indicating a stronger overall experience for new traders.
OANDA vs Plus500: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.6/ 5 | 4.0/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.8 / 5▲ | 4.2 / 5 |
Fees & Spreads 30% weight | 4.5 / 5▲ | 4.0 / 5 |
Platforms & Tools 20% weight | 4.6 / 5▲ | 3.7 / 5 |
Customer Support 10% weight | 4.3 / 5▲ | 3.9 / 5 |
| Founded | 1996 | 2008 |
| Headquarters | New York, United States | Haifa, Israel |
| Min deposit | No minimum | $100 |
| Spreads from | 1 pips | 0.6 pips |
| Commission / lot | N/A | N/A |
| Max leverage | 50:1 | 30:1 |
| Withdrawal fee | Free for ACH | Free |
| Regulators | FCA CMF ASIC NFA CBI | FCA ASIC MAS CySEC CMA |
| Platforms | MetaTrader 4 MetaTrader 5 Proprietary Web/Mobile TradingView | Proprietary Web/Mobile |
| Active bonuses | ||
| Visit broker | Visit OANDA | Visit Plus500 |
OANDA vs Plus500 Forex Broker Pros & Cons
Pros
Available to US residents (NFA-registered)
Best-in-class research and economic data
No minimum deposit
MT4, MT5 and proprietary platforms
Regulated by top-tier authorities (FCA, ASIC, CySEC)
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Multilingual customer support
Pros
LSE-listed providing strong institutional credibility
Zero commission on all trades
Intuitive proprietary platform with a clean mobile app
Negative balance protection across all accounts
Regulated by top-tier authorities (FCA, ASIC, CySEC)
Client funds held in segregated accounts
Investor compensation scheme coverage
No deposit fees
Transparent pricing with clear cost disclosure
24/5 live chat support
Multilingual customer support
Cons
Spreads slightly wider than ECN-style brokers
No copy trading
No raw spread account option
Inactivity fee applies
Cons
No MT4 or MT5 support
Limited research tools and market analysis
US residents not accepted
No copy trading
No raw spread account option
Inactivity fee applies
No MetaTrader support
Limited charting capabilities
No phone support
OANDA vs Plus500: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
3
OANDA
criteria wins
0
Plus500
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | OANDA | Plus500 |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Pass | Pass |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Pass | Pass |
| Compensation scheme (e.g. FSCS) | Pass | Pass |
| Fees & Spreads | ||
| Raw/ECN spreads available | Fail | Fail |
| No deposit fee | Pass | Pass |
| No inactivity fee | Fail | Fail |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Fail |
| Proprietary platform | Pass | Pass |
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Fail |
| Customer Support | ||
| 24/5 live chat | Pass | Pass |
| Phone support | Pass | Fail |
| Multilingual support | Pass | Pass |
OANDA vs Plus500: Frequently Asked Questions
Based on our independent editorial scoring, OANDA ranks higher with a score of 4.6/5 vs 4/5 for Plus500. The best choice still depends on your individual trading needs; OANDA and Plus500 may each suit different trader profiles.
Plus500 offers tighter spreads starting from 0.6 pips, compared to OANDA's spreads from 1 pips. Tighter spreads lower the cost per trade, particularly valuable for high-frequency and scalping strategies.
OANDA has a lower minimum deposit of no minimum required, while Plus500 requires at least $100. This makes OANDA more accessible for traders with limited starting capital.
Both OANDA and Plus500 hold licences from top-tier regulators, indicating a high standard of regulatory oversight. Both are considered safe. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners: OANDA has a lower minimum deposit (no minimum), lowering the barrier to entry; both brokers offer negative balance protection. Also weigh up educational resources and customer support quality before deciding.
OANDA offers maximum leverage of 50:1, while Plus500 offers up to 30:1. Available leverage varies by account type, instrument, and jurisdiction. Higher leverage amplifies both potential profits and losses. Always use appropriate risk management.
OANDA supports MetaTrader 4, MetaTrader 5, Proprietary Web/Mobile, TradingView and Plus500 offers Proprietary Web/Mobile; both support Proprietary Web/Mobile; OANDA exclusively offers MetaTrader 4, MetaTrader 5, TradingView.
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Score 4 / 5
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