Scores, winners and data below compare these brokers as CFD brokers: leveraged trading on forex, indices, commodities and crypto. Scores, winners and data below compare these brokers as stock brokers: real shares and ETFs you own outright.
eToro
Available in your country eToro accepts clients from the country this site is for.
61% of retail CFD accounts lose money. Below content does not apply to US users.
Oanda
Available in your country Oanda accepts clients from the country this site is for.
76.6% of retail investor accounts lose money when trading CFDs with this provider.
Best for
What we compare A comparison of the kinds of traders eToro and Oanda are best suited to, based on what each one actually offers in Nigeria.eToro is better than Oanda for long-term investors, while Oanda is better for day traders, professional traders and scalpers. Both are a good fit for high-volume traders, swing traders and news traders.
| Overall score | eToro 79 -3 82 | Oanda 82 not offered |
|---|---|---|
| Day trading i | ||
| Long-term investing i | ||
| Professional traders i | ||
| High-volume traders i | ||
| Scalpers i | ||
| Swing traders i | ||
| News traders i | ||
| Algo traders i | ||
| Stock traders i | ||
| Crypto traders i | ||
| Futures traders i | ||
| Options traders i |
Regulation
What we compare A comparison between the financial authorities that supervise eToro and the ones that supervise Oanda.eToro and Oanda are both regulated by top-tier authorities, eToro by CySEC, ASIC (Australia) and the SEC (United States) and Oanda by KNF, ASIC (Australia) and the CFTC (United States).
| Section score | eToro 100 100 | Oanda 100 not offered |
|---|---|---|
| Tier-1 regulators | ||
| ESMA (European Union) i | ||
| FCA (United Kingdom) i | ||
| ASIC (Australia) i | ||
| CFTC (United States) i | ||
| NFA (United States) i | ||
| SEC (United States) i | ||
| CIRO (Canada) i | ||
| MAS (Singapore) i | ||
| SFC (Hong Kong) i | ||
| JFSA (Japan) i | ||
| FINMA (Switzerland) i | ||
| Tier-2 regulators | ||
| FMA (New Zealand) i | ||
| CBR (Russia) i | ||
| FSCA (South Africa) i | ||
| DFSA (Dubai) i | ||
| CSRC (China) i | ||
| ISA (Israel) i | ||
| LFSA (Malaysia) i | ||
| JSC (Jordan) i | ||
| CMA (Kenya) i | ||
| Tier-3 regulators | ||
| FSA (Seychelles) i | ||
| MMA (Maldives) i | ||
| SCB (Bahamas) i | ||
| FSC (Mauritius) i | ||
| VFSC (Vanuatu) i | ||
| FSC (Belize) i | ||
| CIMA (Cayman Islands) i | ||
| SV FSA (Saint Vincent and the Grenadines) i | ||
| FSRC (St. Kitts & Nevis) i | ||
| BMA (Bermuda) i | ||
| BVI FSC (British Virgin Islands) i | ||
| EDR (External Dispute Resolution) i | ||
Safety
What we compare A comparison of the tools and services that eToro and Oanda have in place to protect your money in Nigeria.eToro and Oanda both offer segregated client funds and two-factor authentication.
| Section score | eToro 72 Best 72 | Oanda 66 -6 not offered |
|---|---|---|
| Company info | ||
| Is it publicly traded i | ||
| Is it a bank i | ||
| Year founded i | 2007 | 1996 |
| Parent company i | eToro Group Ltd. | OANDA Group |
| CEO i | Yoni Assia | Gavin Bambury |
| Money safety | ||
| Segregated client funds i | ||
| Two-factor authentication i | ||
| Investor compensation scheme i | ||
| Additional money insurance i | ||
| Partner bank i | BNY Mellon, EquiLend | N/A |
| Brand power | ||
| Number of customers worldwide i | 3,610,000 | |
| Annual revenue i | USD 1,340,000,000 | USD 16,900,000 |
| Monthly website search traffic i | 13.2M monthly visits | |
Costs
What we compare A comparison of what it costs to trade with eToro and with Oanda in Nigeria, both on each trade and on holding the account.Oanda is better than eToro for CFD costs, given that Oanda is cheaper on EUR/USD, at 5.5 USD per lot (against eToro's 11.6 USD), has tighter S&P 500 CFD spreads, at 0.49 points (against eToro's 1.08 points), and has tighter gold CFD spreads, at 0.57 points (against eToro's 0.88 points). Neither eToro nor Oanda charges account maintenance fees or deposit fees.
eToro and Oanda cannot be compared for real stock costs, because eToro is a broker offering both CFDs and stocks while Oanda is a CFD broker.
| Section score | eToro 52 -32 79 | Oanda 84 Best not offered |
|---|---|---|
| Broker fees | ||
| Deposit fees i | ||
| Withdrawal fees i | ||
| Overnight fees i | ||
| Inactivity fees i | ||
| Currency conversion fees i | ||
| Discounts on volume i | ||
| Real time market data fee i | ||
| Dividend withholding i | ||
| Account opening fees i | ||
| Account maintenance fee i | ||
| Portfolio management fee i | ||
| Fees on CFDs | ||
| Forex commission per lot i | Free | Free |
| EUR/USD average standard spread i | ||
| EUR/USD average raw spread i | ||
| EUR/USD average fixed spread i | ||
| EUR/USD total cost per lot i | USD 11.6 | USD 5.5 |
| S&P 500 fees (CFD) i | 1.08 points | 0.49 points |
| Gold fees (CFD) i | 0.88 points | 0.57 points |
| Bitcoin fees (CFD) i | USD 1,585.8 | USD 40 |
| US stocks fees (CFD) i | USD 0.1 | |
| Fees on stocks | ||
| Stock fee type i | Commission | Percentage |
| US stocks fees (real) i | USD 2 | |
| ETF fees (real) i | Free | |
| Management costs i | ||
| Connection costs i | ||
| Fees on futures | ||
| Futures fees per contract i | ||
| Platform fees i | ||
| Fees on options | ||
| Options fees per contract i | ||
| Event fees i | ||
| Fees on savings plans | ||
| IRA opening fee i | ||
| IRA maintenance fee i | ||
| 401k opening fee i | ||
| 401k maintenance fee i | ||
Available markets
What we compare A comparison of the markets and products you can trade with eToro and with Oanda in Nigeria, and of how many instruments each one gives access to.Oanda is better than eToro for CFD markets, given that Oanda offers futures on crypto and forex, which eToro does not. Both eToro and Oanda offer CFDs on commodities, crypto, forex, indices and stocks.
Oanda does not offer real stocks, being a CFD broker, so eToro and Oanda cannot be compared for real stock markets.
| Section score | eToro 85 -15 55 | Oanda 100 Best not offered |
|---|---|---|
| Total tradable symbols i | 5,461 | 1,500 |
| Currency pairs i | ||
| Indices i | ||
| Commodities i | ||
| Stocks i | ||
| ETF i | ||
| Cryptocurrencies i | ||
| Bonds i | ||
| Interest rates i | ||
| Portfolios i | ||
| CFDs i | Commodities, Crypto, Forex, Indices, Stocks | Commodities, Crypto, Forex, Indices, Stocks |
| Futures i | Crypto, Forex | |
| Options i | ||
| Assets you can own i | Crypto, ETF, Stocks |
Platform
What we compare A comparison of the trading platforms that eToro and Oanda make available to their clients in Nigeria.Oanda is better than eToro for platforms, since Oanda offers MetaTrader 5, MetaTrader 4 and TradingView, which eToro does not. eToro and Oanda both offer a proprietary platform and one-click trading.
eToro and Oanda cannot be compared for platforms, because eToro is a broker offering both CFDs and stocks while Oanda is a CFD broker.
| Section score | eToro 84 -7 84 | Oanda 91 Best not offered |
|---|---|---|
| Proprietary platform i | ||
| MetaTrader 4 i | ||
| MetaTrader 5 i | ||
| cTrader i | ||
| Social trading platform i | ||
| Copy trading platform i | ||
| ZuluTrade i | ||
| TradingView i | ||
| Duplitrade i | ||
| Mirror Trader i | ||
| NinjaTrader i | ||
| AutoChartist i | ||
| Real time pricing i | ||
| 5 digit pricing i | ||
| One-click trading i |
Mobile
What we compare A comparison of the mobile apps of eToro and Oanda in Nigeria, and of what each one lets you do from your phone.eToro and Oanda are equally good for mobile trading, as eToro offers a social trading app and a copy trading app. On the other hand, Oanda offers the MetaTrader 5 app and the MetaTrader 4 app. eToro and Oanda both offer a proprietary mobile app and mobile price alerts.
Oanda does not offer real stocks, being a CFD broker, so eToro and Oanda cannot be compared for mobile trading.
| Section score | eToro 87 87 | Oanda 86 -1 not offered |
|---|---|---|
| Proprietary app i | ||
| Social trading app i | ||
| Copy trading app i | ||
| MetaTrader 4 app i | ||
| MetaTrader 5 app i | ||
| cTrader app i | ||
| Mobile trading signals i | ||
| Mobile alerts i | ||
| Mobile charting tools i | ||
| Mobile drawing tools i | ||
| Mobile watchlist i | ||
| Smartwatch app i |
Trading features
What we compare A comparison of the trading tools and strategies that eToro and Oanda allow on their platforms in Nigeria.Oanda is better than eToro for CFD trading features, because Oanda offers tier-1 liquidity providers, which eToro does not, and allows for scalping and automated trading. Both eToro and Oanda offer negative balance protection and trailing stops.
Only eToro can be assessed for real stock trading features, since Oanda is a CFD broker and does not offer real stocks.
| Section score | eToro 60 -23 76 | Oanda 83 Best not offered |
|---|---|---|
| Trade execution | ||
| Broker type i | Agency | Agency |
| Average execution time i | ||
| Slippage occurrence i | ||
| Requotes occurrence i | ||
| Tier-1 liquidity providers i | ||
| PFOF i | ||
| Leverage | ||
| Major FX pairs leverage i | 400:1 | 888:1 |
| Minor/Exotic FX pairs leverage i | 50:1 | 888:1 |
| Major indices leverage i | 100:1 | 888:1 |
| Minor indices leverage i | 10:1 | 200:1 |
| Gold leverage i | 100:1 | 888:1 |
| Commodities leverage i | 100:1 | 100:1 |
| Equities leverage i | 20:1 | 20:1 |
| Cryptocurrency leverage i | 30:1 | 10:1 |
| Risk management | ||
| Stop losses i | ||
| Take profits i | ||
| Limit orders i | ||
| Trailing stop i | ||
| Margin call i | ||
| OCO orders i | ||
| Guaranteed stop loss i | ||
| Negative balance protection i | ||
| Minimum trade size (FX) i | 0.01 lots | 0.01 lots |
| Minimum trade size (stocks) i | USD 10 | USD 0 |
| Fractional stocks i | ||
| Trading compliance | ||
| Scalping strategies allowed i | ||
| Hedging strategies allowed i | ||
| Automated trading strategy allowed i | ||
| EAs use allowed i | ||
| HFT strategy allowed i | ||
| VPS use allowed i | ||
| API use allowed i | ||
| Price scraping allowed i | ||
| FIFO rule applies i | ||
Account types
What we compare A comparison of the kinds of account you can open at eToro and at Oanda in Nigeria, and of who each one is meant for.Oanda is better than eToro for CFD account types, as Oanda offers a raw spread account, which eToro does not. eToro and Oanda both offer a demo account and a professional traders account.
Only eToro can be assessed for real stock account types, since Oanda is a CFD broker and does not offer real stocks.
| Section score | eToro 48 -5 74 | Oanda 53 Best not offered |
|---|---|---|
| Demo account i | ||
| Unlimited demo account i | ||
| Standard account i | ||
| Micro account i | ||
| Cent account i | ||
| Nano account i | ||
| Raw spread account i | ||
| ECN account i | ||
| Swap-free account i | ||
| Islamic account i | ||
| Professional traders account i | ||
| Fixed spread account i | ||
| Spread betting account i | ||
| Copy trading account i | ||
| Corporate account i | ||
| Managed account i | ||
| Stock investing account i | ||
| Margin investing account i | ||
| Savings account i | ||
| Retirement account i |
Account opening
What we compare A comparison of what it takes to open and fund an account with eToro and with Oanda in Nigeria.Oanda is better than eToro for account opening, as Oanda does not require a minimum deposit (against eToro's 100 USD), has no minimum withdrawal (against eToro's 30 USD), and credits deposits faster, within 2 days (against eToro's 5 days). Both eToro and Oanda offer credit cards and debit cards.
There is no like-for-like comparison for account opening, as Oanda is a CFD broker and does not offer real stocks.
| Section score | eToro 69 -11 69 | Oanda 80 Best not offered |
|---|---|---|
| Minimum deposit i | USD 100 | USD 0 |
| Minimum withdrawal i | USD 30 | USD 0 |
| Wire transfers i | ||
| Credit cards i | ||
| Debit cards i | ||
| eWallets i | Neteller, Skrill | Neteller, Skrill |
| Local payment methods i | ||
| Account base currencies i | USD | USD |
| Deposit waiting time i | up to 5 business days | up to 2 business days |
| Withdrawal waiting time i | up to 7 business days | up to 2 business days |
| Bonus program i |
Customer care
What we compare A comparison of the customer support of eToro and Oanda in Nigeria, in how it can be reached and how fast it answers.eToro is better than Oanda for customer care, because eToro offers customer support in 7 languages (against Oanda's 5), and offers a dedicated account manager and priority support, which Oanda does not. eToro and Oanda both offer live chat and email support.
eToro and Oanda cannot be set side by side for customer care, as Oanda is a CFD broker and does not offer real stocks, unlike eToro.
| Section score | eToro 69 Best 69 | Oanda 46 -23 not offered |
|---|---|---|
| Number of languages supported i | 7 | 7 |
| Website languages i | Arabic, German, English, French, Italian, Spanish, Chinese | German, English, French, Italian, Russian, Spanish, Chinese |
| Website available in English i | ||
| Customer support languages i | Arabic, German, English, French, Italian, Spanish, Chinese | German, English, Russian, Spanish, Chinese |
| Customer support in English i | ||
| Call back request i | ||
| Email support i | ||
| Phone support i | ||
| Live chat i | ||
| Priority customer support i | ||
| Dedicated account manager i | ||
| Cash sweep i | ||
| Stock lending i | ||
| Distributes proceeds i | ||
| Tax withholding agent i | ||
| Tax assistance i |
Learning
What we compare A comparison of the educational material that eToro and Oanda provide to their clients in Nigeria.eToro is better than Oanda for learning, since eToro offers professional reports and daily market commentary, which Oanda does not. Both eToro and Oanda offer education for advanced traders and webinars.
Only eToro can be assessed for learning, since Oanda is a CFD broker and does not offer real stocks.
| Section score | eToro 100 Best 100 | Oanda 80 -20 not offered |
|---|---|---|
| Education | ||
| Education center i | ||
| Education for beginners i | ||
| Education for advanced traders i | ||
| Webinars i | ||
| Tutorials i | ||
| Glossary i | ||
| Research | ||
| Economic calendar i | ||
| Traders' sentiment i | ||
| Daily market commentary i | ||
| Daily trading ideas i | ||
| News via social media i | ||
| Professional reports i | ||
| Watchlist i | ||
eToro vs Oanda: which one should you choose?
eToro
CFD Choose eToro, regulated by the SEC and ASIC, if you want an online CFD broker with a wide choice of markets and copy and social trading.
Stocks Choose eToro if you want a share dealing service for long-term investing, with copy and social trading.
Open Account 61% of retail CFD accounts lose money. Below content does not apply to US users.
Oanda
CFD Choose Oanda, regulated by the KNF and the FCA, if you want a CFD and forex broker with low trading costs, no minimum deposit and a choice of trading platforms.
Open Account 76.6% of retail investor accounts lose money when trading CFDs with this provider.Other popular comparisons
Below are other head-to-head comparisons that include eToro or Oanda, each scored with the same data and method as this page.
