Oanda or Trading212 – which is better for UK traders 2024? Compare Oanda and Trading212 in this detailed breakdown of their platforms, features and fees.
OANDA is an award-winning global broker, established in 1996. The hugely respected brand offers competitive trading accounts and serves clients from 196 countries. It remains a popular option with both beginners and experienced traders thanks to its user-friendly and sophisticated web platform, no minimum deposit and premium currency products and services. The company is also overseen by reputable regulators, including the FCA, ASIC and CIRO.
Trading 212 is a European and UK-regulated CFD broker that also offers stock investing and ISAs. It’s best known for its commission-free trading model and beginner-friendly app, which has helped it attract 2.5 million users and £3.5 billion in client assets.
Pros
The OANDA Trade web platform serves serious traders, with 100+ technical indicators, an economic overlay and a Dow Jones news feed
OANDA recently introduced a prop trading service, OANDA Labs Trader, offering a 75% profit share to skilled traders
The guaranteed stop loss order (GSLO) is a useful risk management tool not available at many alternatives
There are no restrictions on short-term trading strategies with scalping, hedging and netting permitted
OANDA has enhanced its suite of stocks, now providing exposure to over 2,200 US and European shares
With 68 forex pairs and access to a premium MT4 upgrade, the broker will serve active forex traders
Oversight from tier-one regulators like the FCA and ASIC makes the broker reliable and trustworthy
The $0 minimum deposit will appeal to newer traders
Spreads are tight and there are zero hidden fees
One of the standout features of Trading 212 is its commission-free trading, meaning you can buy and sell stocks, ETFs, and other financial instruments without incurring traditional brokerage fees
Trading 212 has an intuitive and user-friendly platform that is especially accessible for beginners, with a straightforward layout and a reasonable range of tools for analysis
The platform offers a good suite of instruments, including stocks, indices, ETFs, currencies, commodities, and CFDs. This variety can help you to create a diversified investment portfolio
A sleek mobile app lets you trade on the go. It’s well-designed and offers features similar to the web platform, making it convenient if you prefer mobile trading
Up to 5.1% interest on uninvested cash is available, appealing to hands-off investors
Cons
The range of payment methods trail competitors, only offering a handful vs the 10+ available at alternatives like AvaTrade
It's a shame that social and copy trading tools aren't supported for traders who want to explore other ways to trade
High-volume traders get limited fee rebates or perks compared to leading brands
Weekend customer support and extended hours trading aren't available
Experienced traders who rely on sophisticated technical analysis tools will find Trading 212’s charting features to be somewhat basic, especially compared to alternatives like IG
While Trading 212 offers leveraged trading through CFDs, there are restrictions on leverage for certain instruments. If you want high leverage for your strategies, you will find these limitations constraining
There’s no copy trading, a significant drawback given Trading 212's client base is largely beginners and brokers like eToro offer this feature
There is no support for algorithmic or automated trading, nor third-party apps like MetaTrader 4, which will deter advanced traders. IC Markets ticks these boxes
Awards
Best Trading Tools winner 2021 - Online Personal Wealth Awards
Trading212 have positioned themselves at the front of the mobile trading movement. Their platform is based on a ‘mobile-first’ model, so they prioritize this type of trader. The app offers 1800+ instruments, zero commissions and a free practise account. Download the app risk free and try it out.
iOS App Rating
4.7
Android App Rating
3.7
Margin Trading
Yes
Yes
Margin Rate
2%
MetaTrader 4
Yes
No
MetaTrader 5
No
No
cTrader
No
No
AlgoTrader
No
No
OmniTrader
No
No
TradingView
Yes
No
Autochartist
Yes
No
eSignal
No
No
Trading Central
No
No
STP Account
No
Yes
ECN Account
No
No
DMA Account
No
No
MAM Account
No
No
PAMM Account
No
No
LAMM Account
No
No
Demat Account
No
No
AI / Machine Learning
No
No
Robo Advisor
No
No
Negative Balance Protection
Yes
Yes
Market Maker
Yes
Yes
P2P Trading
No
No
Spot Trading
Yes
No
Auto Trading
Expert Advisors (EAs) on MetaTrader
AutoInvest Portfolio
Copy Trading
No
No
Social Trading
No
Yes
VPS Hosting
No
No
Tournaments
No
No
Demo Competitions
No
No
Ethical Investing
No
Yes
Custodial Account
No
No
Guaranteed Stop Loss
Yes
No
Inactivity Fee
$10
Islamic Account
No
No
Account Currencies
USD
EUR
GBP
CAD
AUD
JPY
CHF
HKD
SGD
USD
EUR
GBP
CAD
SEK
NOK
DKK
CHF
PLN
CZK
HUF
Commodities
Corn
Palladium
Platinum
Copper
Wheat
Gold
Silver
Oil
Natural Gas
Soybeans
Sugar
Gold
Silver
Gasoline
Oil
Copper
Palladium
Coffee
Cotton
Platinum
Corn
Sugar
Cocoa
Livestock
Wheat
Soybeans
Natural Gas
Lead
CFD
You can speculate on popular financial assets covering forex, commodities, indices, metals and bonds. You can get started with $0 minimum deposit, making the broker a good pick for beginners. There’s also over 130 technical indicators available collectively in the MT4 and OANDA Trade platforms.
Engage in leveraged CFD trading across a wide array of instruments, encompassing forex, stocks, commodities, and indices. Yet while the selection of asset classes is satisfactory, the charting software and floating spreads for short-term traders fall behind that of competitors.
Leverage
1:30
1:30
FTSE Spread
1.0
2.5
GBPUSD Spread<
1.4
0.00028
Oil Spread
3.0
0.4
Stocks Spread
12 (Apple Inc)
0.2% Var
Forex
OANDA offers 68 currency pairs, which is above the industry average. You can speculate on majors, minors and exotics, with spreads from 0.8 pips on popular pairs. There are no commissions and leverage is available up to 1:200. Average execution speeds are fast based on tests, at 12 milliseconds.
Trade over 180 major, minor, and exotic forex pairs on the Trading 212 platform, featuring floating spreads and leverage up to 1:30. It’s important to note, though, that the forex broker has a history of adjusting margin requirements without providing adequate notice. As a result, CMC Markets is a better pick for forex traders with more currency pairs and a cleaner record.
Assets
68
180+
GBPUSD Spread
1.4
0.00028
EURUSD Spread
0.8
0.00015
EURGBP Spread
0.9
0.00044
Currency Indices
USD
Cryptocurrency
OANDA offers trading on leading cryptocurrencies, including Bitcoin. You can place trades in the app hassle-free and practice in the unlimited demo account. The broker offers guaranteed stop-loss orders to help protect you against crypto market volatility.