Comparison of Trading212 vs OANDA [ 2024 ]

The best brokers to invest in cryptocurrencies compared by their commissions, cryptos, security and much more. Here is theTrading212 vs OANDA comparison!

Your expert: Alejandro Borja

Trading212

Your expert: Xavier Tarrasó

OANDA

Main points

Fees

Low 4/5

Regulated

FCA, CySEC

Demo account

Yes

Low 4,3/5

Fees

FCA, CFTC

Regulated

Yes

Demo account

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Buy and hold

Comparison of fees

Rating

4.3 – Trading212 provides commission-free trading and a user-friendly platform. However, the 0.3% to 0.5% fee on currency conversion orders and inactivity fee are potential downsides .

3.8 – OANDA’s fees for crypto trading are competitive with no spread markups or custody fees. However, the platform’s higher fees for certain transactions and inactivity fees can be a drawback .

Level

Low 4/5

Low 4,3/5

Brief explanation

Trading212 employs a straightforward fee structure with no commissions on most trading activities, particularly for CFD accounts. Users benefit from free deposits and withdrawals, making the platform financially accessible. However, there are fees associated with specific services. For instance, a 0.7% fee is charged on deposits exceeding €2,000 when using credit/debit cards or electronic wallets. Currency conversion carries a fee of 0.15% for Invest accounts and 0.5% for CFD accounts. Additionally, inactive accounts are charged £9, €9, or $9 after six months of inactivity .

OANDA offers a transparent and straightforward fee structure for cryptocurrency trading, which makes it an appealing choice for many traders. The platform charges a 0.25% fee on all executed crypto orders, with a minimum fee of $0.01. This fee is calculated based on the order quantity and fill price, ensuring that traders know exactly what they are paying upfront. Unlike many other brokers, OANDA does not apply a spread markup or custody fee on crypto trades, which can help keep trading costs lower. Deposits via credit/debit cards and electronic wallets like PayPal, Skrill, and Neteller are free, but bank transfers, which can take up to three business days to process, may incur conversion costs if the currency differs from the account base currency. Withdrawal fees are notably higher, especially for bank transfers, which can cost up to $20 or more per transaction, depending on the currency and region. While OANDA does not offer leverage for cryptocurrency trading, which could limit the potential for higher returns, this also reduces the risk of significant losses. The absence of short selling options is another limitation for those looking to profit from falling markets. Overall, OANDA’s fee structure is designed to be clear and straightforward, with no hidden costs, making it a reliable choice for crypto traders who prioritize transparency and security .

Trading212

Year Founded: Trading212 was established with a solid foundation in the trading industry and has steadily grown its reputation over the years, ensuring a reliable and trustworthy platform for its users.
Number of Users: With millions of users worldwide, Trading212 has built a large and active community, reflecting its credibility and user satisfaction.
Regulation: Trading212 is regulated by the UK's Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC), providing a strong layer of security and adherence to strict financial standards.
Customer Service: The platform offers comprehensive customer support, including a helpful community forum and various contact methods, ensuring that users can get assistance when needed.
Withdrawal and Deposit Policies: Trading212 supports a wide range of payment methods for deposits and withdrawals, including credit/debit cards, bank transfers, and e-wallets, making transactions easy and accessible for users.

OANDA

Year Founded: OANDA was founded in 1996, establishing a long track record of reliability and innovation in the financial markets. This extensive experience provides a level of confidence that newer brokers may not offer .
Number of Users: With millions of users worldwide, OANDA has built a solid reputation among both retail and institutional traders. Its wide user base is a testament to its credibility and the trust it has garnered over the years .
Security Methods: OANDA employs robust security measures, including two-factor authentication and encryption, to protect user data and funds. The partnership with Paxos ensures secure and regulated crypto trading, further enhancing trust .
Regulation: OANDA is regulated by top-tier financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Commodity Futures Trading Commission (CFTC) in the US, and the Australian Securities and Investments Commission (ASIC). These stringent regulatory standards provide a high level of protection and transparency for users .
Reputation and Reviews: OANDA has consistently received positive reviews for its reliability, customer service, and comprehensive trading platform. Its commitment to transparency and customer satisfaction has solidified its position as a trusted broker in the industry .

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Account Minimum

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Direct link to the website

Product selection

Native token

Trading212 does not have a native token.

OANDA does not have a native token.

Earns

Trading212 does not offer staking or other earning options for cryptocurrencies. It provides trading through crypto CFDs .

OANDA does not provide staking or other earning options for cryptocurrencies. The platform supports trading through crypto CFDs and direct trading via partnerships .

NFT marketplace

Trading212 does not have an NFT marketplace.

OANDA does not have an NFT marketplace.

Cripto/debit card

Trading212 does not offer a card for its clients .

OANDA does not provide a card for its clients .

Payment methods

Transfers

Yes, Trading 212 accepts bank transfers for both deposits and withdrawals .

Yes, OANDA accepts bank transfers for both deposits and withdrawals .

Mastercard

Yes, Trading212 accepts Mastercard for deposits.

Yes, OANDA accepts Mastercard for deposits.

Wire transfer

Yes, Wise is supported as a payment method .

Wise is not mentioned as a supported payment method .

Card

Yes, Trading 212 accepts credit/debit cards .

Yes, OANDA accepts credit/debit cards .

Comparative table

Trading212	Features	OANDA
The platform allows users to start trading with as little as £1, making it highly accessible for beginners.	Minimum Trade	No minimum trade requirement, making it accessible for all traders.
Trading212 offers competitive fees with no commissions on real stock trades, but CFD trading involves spreads.	Trading and Transaction Fees	Competitive fees, but high withdrawal costs for bank transfers.
Trading212 supports a limited selection of cryptocurrencies, which might not satisfy traders looking for a wide variety of digital assets.	Number of Cryptocurrencies	Supports 63 crypto trading pairs, offering good variety.
The platform does not offer direct crypto-to-crypto trading pairs, limiting the trading options available.	Crypto-to-Crypto Trading Pairs	Wide range of pairs available, enhancing trading opportunities.
Trading212 provides clear and comprehensive information about its fees, services, and regulatory status, ensuring transparency for users.	Website Transparency	Highly transparent with detailed information about fees, regulations, and services.
Trading212 does not offer a card for its clients .	Credit/Debit Card	OANDA does not provide a card for its clients .
Trading212 does not provide dedicated cryptocurrency storage solutions, as it primarily deals with CFDs rather than actual cryptocurrency ownership.	Storage Offering	No dedicated crypto wallet service; relies on Paxos integration for custody.
There are no staking or rewards programs available on Trading212, limiting passive income opportunities for users.	Staking and Rewards	Does not offer staking or rewards programs.
Trading212 offers robust mobile and desktop applications with a user-friendly interface and advanced trading tools.	Mobile App and Desktop	User-friendly mobile and desktop platforms with advanced charting tools.
The platform offers good customer support through various channels, though there is room for improvement in response times.	Customer Service	24/7 support available, though response times can vary.
Deposits and withdrawals are straightforward and support multiple payment methods, though crypto withdrawals are not available.	Deposit and Withdraw	Multiple methods available but high fees for bank transfers.

Key features

Analysis tools

Trading 212 offers a web-based platform and mobile apps with many features, including technical indicators and charting tools. They also provide educational resources and a demo account for practice trading .

OANDA offers a proprietary web platform with over 65 technical indicators powered by TradingView, advanced charting tools, and a robust mobile app. They also provide comprehensive research offerings .

Mobile APP

Yes, Trading 212 provides mobile apps for both Android and iOS devices, featuring many of the functionalities found on their web-based platform .

Yes, OANDA provides a mobile app for trading, which includes advanced charting and access to their full range of trading instruments .

Security

Trading 212 is regulated by the FCA and CySEC, ensuring a high level of security. However, they do not provide basic security features like two-factor authentication, which could be a concern for some investors.

OANDA is regulated by top-tier authorities such as the FCA. They offer negative balance protection for EU clients and are known for their transparency and robust security measures, including 24/7 customer support.

Additional features

Trading212 allows trading of cryptocurrency CFDs with benefits like leverage and short selling. They offer a user-friendly platform with a demo account for practice. Trading212 supports a wide range of payment methods and provides low fees for trading CFDs on stocks, indices, commodities, and forex in addition to cryptocurrencies .

OANDA offers trading on 13 popular cryptocurrency CFDs, such as Bitcoin, Ethereum, and Litecoin, through their platform. They provide a user-friendly app with advanced charting tools and the ability to manage risk using limit and stop orders. OANDA’s crypto trading is available 24/7 with competitive spreads and transparent fees .

Anonymity

Trading212 does not support anonymous accounts. The registration process includes providing personal details and identity verification.

OANDA does not support anonymous accounts. Personal information, financial details, and verification documents are necessary for opening an account .

Key points

Available cryptocurrencies

Trading212 supports trading in cryptocurrency CFDs. The available cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), and other popular cryptocurrencies .

OANDA offers trading in cryptocurrency CFDs and direct trading through a partnership with Paxos. Available cryptocurrencies include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Chainlink (LINK), EOS, Binance Coin (BNB), Stellar (XLM), Dogecoin (DOGE), Uniswap (UNI), Tezos (XTZ), Cardano (ADA), and Polkadot (DOT).

User-friendliness

Trading212 offers a user-friendly and fast platform for trading crypto CFDs. The account setup process is quick, and the platform supports multiple payment methods. While the range of cryptocurrencies available for trading is limited, Trading212’s intuitive design and ease of use make it a good option for beginners.

OANDA’s crypto trading experience is integrated into its well-established forex trading platform, providing a seamless and user-friendly interface. The platform supports a range of cryptocurrencies and offers easy account funding options. OANDA’s strong regulatory framework and security features add an extra layer of trust for users .

Value for money

Trading212 provides excellent value with commission-free trading and a user-friendly platform. However, its fee for credit/debit card deposits and a small commission on stock trades might be a downside for some users.

OANDA provides good value with no deposit or withdrawal fees and competitive spreads on crypto CFDs. However, the platform’s above-average fees for certain transactions and inactivity fees might deter less active traders.

Countries of operation

United Kingdom, European Union, available in most countries that allow crypto trading .

United Kingdom, United States, European Union, Canada, Australia, Singapore .

Best for

Trading212 is best for beginner and intermediate traders looking for a user-friendly platform with commission-free trading of crypto CFDs. It’s suitable for those who want to start trading quickly and benefit from a wide range of other financial instruments.

OANDA is best for traders who want the flexibility to trade both crypto CFDs and underlying crypto assets. Its strong regulatory framework and user-friendly app make it a good choice for those looking for a secure trading environment.

Account

Trading

Trading212 supports crypto CFD trading with leverage, offering a straightforward and easy-to-use platform. It is ideal for beginners who want to start trading cryptocurrencies without owning them.

OANDA offers crypto CFD trading with a focus on transparency and regulation. The platform provides competitive spreads and leverage, making it a secure choice for trading cryptocurrencies.

Deposit and withdrawal

Trading212 offers free deposits and withdrawals through a variety of methods, including bank transfers, credit/debit cards, and e-wallets. The process is typically fast and efficient.

OANDA offers deposits and withdrawals via bank transfers, credit/debit cards, and e-wallets. The process is straightforward, but fees may apply for certain withdrawal methods, especially international transfers.

Account opening process

Trading212 offers a simple and fast account opening process. Users fill out an online form, provide personal and financial information, and submit verification documents. The process is fully digital and accounts are typically approved within one business day.

OANDA has a straightforward and fully digital account opening process. Users need to fill out an online form with personal and financial details and submit verification documents. Accounts are typically approved within one business day.

KYC required?

KYC is mandatory at Trading212. Users must submit identification documents and proof of address during the account opening process.

OANDA requires KYC verification. Users must submit personal identification documents and proof of address to open an account.

Customer Service

Trading212 offers customer support through live chat, email, and phone. The support is available 24/7 and is known for being responsive and helpful, providing users with timely and effective assistance.

OANDA provides strong customer support available 24/5 via phone, email, and live chat. The support team is generally responsive and knowledgeable, making it easy for users to resolve their issues.

Security

Which of these exchanges is for you?

Alejandro Borja

As an expert at our website, I recommend Trading212 for beginners and casual traders who are looking to explore the world of cryptocurrency trading in a secure and user-friendly environment. The platform’s ease of use, competitive fees, and strong regulatory oversight make it a reliable choice. However, if you’re an advanced trader seeking a wide variety of cryptocurrencies or specialized features like staking, you might find the platform somewhat limited. Nonetheless, Trading212 is an excellent starting point for anyone new to crypto trading.

Xavier Tarrasó

As an expert on our website, I highly recommend OANDA for its reliability and robust security measures in cryptocurrency trading. OANDA’s regulation by top-tier authorities such as the FCA and CFTC ensures a secure trading environment. The platform offers a user-friendly experience with advanced charting tools and over 60 crypto trading pairs through its partnership with Paxos Trust Company. Despite its higher withdrawal fees and lack of leverage for crypto, OANDA is an excellent choice for traders seeking a trustworthy and well-regulated broker.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Comparison of Trading212 vs OANDA [ 2024 ]

Trading212

OANDA

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Trading212

OANDA

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives Trading212 and OANDA