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OANDA vs Trade Nation 2024

BrokerNotes.co

Written by BrokerNotes.co

August 24, 2023

Trying to decide between OANDA and Trade Nation? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, OANDA ranks more highly than Trade Nation.

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Compare

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Overall Rating OANDA Trade Nation
Overall Rating 8.5 /10 7.6 /10
Offering of Investments 6.5 /10 7.0 /10
Commissions & Fees 7.5 /10 9.0 /10
Platform & Tools 8.0 /10 7.5 /10
Research 10 /10 6.5 /10
Mobile Trading 9.0 /10 7.5 /10
Education 7.5 /10 6.5 /10
Account Type OANDA Trade Nation
Standard Trade Size (100,000 units) info Yes Yes
Mini Trade Size (10,000 units) info Yes Yes
Micro Trade Size (1,000 units) info Yes Yes
Islamic Account info Yes Yes
Deposit/Withdrawal Options OANDA Trade Nation
Minimum Deposit info $0 $0
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
PayPal (Deposit/Withdraw) info Yes info No
ACH or SEPA Transfers info Yes info No
Copy Trading OANDA Trade Nation
Social Trading / Copy Trading info Yes info No
DupliTrade info No No
ZuluTrade info No No
Cryptocurrency OANDA Trade Nation
Cryptocurrency (Physical) info Yes No
Cryptocurrency (Derivative) info Yes info Yes
Bitcoin info Yes Yes
Ethereum info Yes Yes
Forex Trading (Spot or CFDs) OANDA Trade Nation
Forex Trading (Spot or CFDs) info Yes info Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) OANDA Trade Nation
DAX info Yes Yes
Dow Jones info Yes Yes
FTSE info Yes Yes
NASDAQ 100 info Yes Yes
Nikkei info Yes Yes
SP 500 info Yes Yes
Investments OANDA Trade Nation
Forex Trading (Spot or CFDs) info Yes info Yes
Spread Betting info Yes Yes
Social Trading / Copy Trading info Yes info No
Metals info Yes Yes
Energies info Yes Yes
Agriculturals info Yes No
ETF info No No
U.S. Stocks (CFD) info No info Yes
Trading Platforms OANDA Trade Nation
Apple iOS App info Yes Yes
Android App info Yes Yes
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes info No
Regulatory Licenses OANDA Trade Nation
Tier-1 Licenses info 7 2
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info Yes No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info Yes No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
USA (CFTC Authorized) info Yes No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info No info
Tier-2 Licenses info 0 1
Tier-3 Licenses info 0 0
Research, Education OANDA Trade Nation
Trading Central (Recognia) info No No
Forex News (Top-Tier Sources) info Yes Yes
Daily Market Commentary info Yes No
Autochartist info Yes No
Investor Dictionary (Glossary) info Yes No
Videos - Beginner Trading Videos info Yes Yes
Client Webinars (Archived) info Yes No
Trading Costs OANDA Trade Nation
Minimum Deposit info $0 $0
Average Spread EUR/USD - Standard info 1.57 info 0.6
All-in Cost EUR/USD - Active info 1.57 info 0.6
Active Trader or VIP Discounts info Yes info No
Trading Tools OANDA Trade Nation
Watchlists - Total Fields info 6 14
Mobile Watchlist info Yes Yes
Charting - Indicators / Studies (Total) info 81 99
Mobile Charting - Indicators / Studies info 30 99
Trust Factors OANDA Trade Nation
Year Founded info 1996 2014
Publicly Traded (Listed) info No No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info No info
Trust Score info 93 85
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OANDA vs Trade Nation Comparison

Comparing forex brokers side by side is no easy task. Our research team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Trying to decide between OANDA and Trade Nation? Our independent database powered by our unbiased research will help you compare OANDA vs Trade Nation side-by-side.

What is Trust Score?

Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe. To make things clearer for everyday traders, we’ve created a five-tier system for regulators and Trust Score rating labels. Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.

Can I trust OANDA?

OANDA has a Trust Score of 93, giving it a "Highly Trusted" Trust Score Label.

Can I trust Trade Nation?

Trade Nation has a Trust Score of 85, giving it a "Trusted" Trust Score Label.

Is OANDA a good broker?

Founded in 1996, OANDA is a long-standing, highly trusted broker licensed in an impressive seven Tier-1 regulatory jurisdictions. Forex and CFD traders will find plenty to like at OANDA, including strong market research and support for a range of third-party plug-ins and platforms (like MetaTrader 4 and the wildly popular TradingView). The OANDA Trade platform is available for web, desktop, and mobile. Though the desktop platform is good – not great – the mobile app is easy to use and boasts a great balance of features. The only downside with using OANDA is its comparatively small range of markets and industry-average spreads.

Is Trade Nation a good broker?

Trade Nation is a trusted broker that offers an innovative, easy-to-use proprietary trading platform suite alongside MetaTrader 4. Trading signals powered by Acuity are also available within Trade Nation's Signal Centre. That being said, a lack of advanced trading features may leave experienced traders wanting more.

What Tier-1 jurisdictions is each broker regulated in?

Tier-1 is reserved for the strictest, most stringent regulatory jurisdictions in the world. Tier-1 regulators impose additional capital requirements and require a tougher initial screening process. OANDA holds regulatory licenses in the following Tier-1 jurisdictions: Australia (ASIC Authorised), Canada (CIRO Authorised), Japan (SFC Authorised), Singapore (MAS Authorised), United Kingdom (U.K.) (FCA Authorised) and USA (CFTC Authorized). Trade Nation, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: Australia (ASIC Authorised) and United Kingdom (U.K.) (FCA Authorised). Neither have Hong Kong (SFC Authorised), CBI Authorised (Ireland), New Zealand (FMA Authorised) and Switzerland (FINMA Authorised)

What Tier-2 jurisdictions is each broker regulated in? What about Tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, OANDA is none, while Trade Nation is South Africa (FSCA Authorised).. Neither have China (CBRC Authorised), Cyprus (CySEC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses OANDA is British Virgin Islands (FSC Authorised), while Trade Nation is Bahamas (SCB Authorised).. Neither have Belize (FSC Authorised), Bermuda (BMA Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).

Which broker offers more trading platforms?

Whether your broker develops its own proprietary platforms or provides access to popular third-party platforms, you should make sure you can use your preferred type of trading platform. In our testing, we found that both OANDA and Trade Nation offer a Proprietary Platform and Desktop Platform (Windows). Neither have cTrader, DupliTrade and ZuluTrade

Does OANDA offer MetaTrader? Does Trade Nation offer MetaTrader?

For MetaTrader OANDA provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while Trade Nation provides MetaTrader 4 (MT4). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

How do OANDA and Trade Nation differ in terms of minimum deposit? What about average spreads and funding options?

OANDA requires a minimum deposit of $0, while Trade Nation requires a minimum deposit of $0. It's also important to ensure your broker accepts the funding options and deposit methods that work best for you. In our research, we've found that OANDA supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for funding and deposit methods, whereas Trade Nation supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw)

Which broker offers more tradeable asset classes, OANDA or Trade Nation?

When choosing a forex broker, it’s important to consider each broker’s available investment products and tradeable asset classes. We’ve researched each broker’s individual offering of investments to help you pick the right broker for what you want to trade. During our testing, we found that OANDA delivers a more diverse selection of investment options than Trade Nation, offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Spread Betting, Social Trading / Copy Trading, Metals, Energies and Agriculturals. Neither have ETF.

We also keep track of each broker’s total number of tradeable symbols; OANDA offers 1744, and Trade Nation offers a total of 1000 tradeable symbols.

Can I trade cryptocurrency with OANDA or Trade Nation?

Crypto trading has become popular among forex traders across a range of international jurisdictions. As a result, many forex brokers now offer crypto products to their clients; most crypto assets are offered either as an underlying physical asset (such as when you own actual bitcoin assets, for example) or as a derivative product like a CFD. If you are looking to trade physical cryptocurrencies, you’ll find that OANDA offers clients access to trading physical cryptocurrencies while Trade Nation does not.

Who offers more research tools, OANDA or Trade Nation?

Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. We test each broker’s research offering to help you decide which broker is right for your technical or fundamental analysis needs. OANDA delivers the following research tools: Autochartist, Daily Market Commentary, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. Trade Nation, on the other hand, provides the tools listed here: Stock Charts and Forex News (Top-Tier Sources). Neither have Trading Central (Recognia)

Broker Reviews

Still looking for more information, read our broker reviews.

OANDA Review

Trade Nation Review

Overall winner: OANDA

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announcementPlease note:

We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.


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