Deriv vs OANDA Comparison: Which Is Better for Traders?
We test brokers on real accounts using our own methodology, evaluating the quality of order execution, trading conditions, platforms and customer support.
Who is better - Deriv or OANDA?
Our pick: Deriv
Based on multiple factors - spreads and fees, available assets and instruments, execution quality, platform usability, support level, and educational resources - Deriv looks preferable to OANDA.
Deriv scored 4.3/5 and ranks 23 in our all Forex brokers list, whereas OANDA has 4.3/5 and ranks 28.
This is not financial advice. See the full comparison below.
Who is Deriv suitable for?
Deriv may be suitable for beginners looking for a user-friendly platform, a low entry threshold, and the opportunity to trade binary options or CFDs.
Who is OANDA suitable for?
Oanda is suitable for beginners and experienced traders, thanks to quality analytics and various educational materials.
Comparison Table of Deriv and OANDA
| Broker | Deriv | OANDA |
|---|---|---|
| Rating | 4.3/5 | 4.3/5 |
| Foundation Year | 2020 | 2001 |
| Regulated in Countries | Malaysia, British Virgin Islands, Vanuatu, Saint Vincent and the Grenadines, Jersey, Malta | United States, Australia, Canada, United Kingdom, Japan, British Virgin Islands, Singapore, Poland |
| Minimum Deposit |
|
|
| Spread | from 0.5 points | from 0.5 points |
| Max Leverage | 1:4000 | 1:200 |
| Trading Assets (CFDs) |
|
|
| Trading Platforms |
|
|
| Review | Deriv Review | OANDA Review |
Deriv Review
Deriv is an appealing choice for a wide array of traders, particularly those who are just beginning or are at an intermediate level. Its user-friendly approach, diverse platforms, and low-cost structure make it ideal for individuals seeking a straightforward trading experience. While it may not fully satisfy the needs of highly advanced traders due to some limitations in educational and analytical resources, Deriv's overall offering is solid, making it a reliable and accessible broker for most trading requirements.
Pros and Cons of Deriv
Pros
- Simple and fast account opening process.
- A wide variety of account types cater to different trading needs.
- Low commission structure.
- A wide range of trading platforms.
- High-quality technical support with fast and effective responses.
Cons
- Some essential asset classes are absent, and a limited number of CFDs on stocks exist.
- Educational materials are confined to a blog and lack comprehensive learning resources.
Deriv is in the top 10 of the following ratings:
OANDA Review
Oanda is an excellent choice for traders seeking a reliable and regulated broker with competitive spreads and various trading assets.
With quality analytics and diverse educational materials, Oanda suits beginners and experienced traders.
Pros and Cons of OANDA
Pros
- Tight spreads.
- Diverse markets and products.
- Advanced trading platforms.
- Quality analytics.
- Extensive learning section.
Cons
- Limited trading account types.
- Inactivity fee.
- High swaps.
OANDA is in the top 10 of the following ratings:
Reliability
| Broker | Deriv | OANDA |
|---|---|---|
| Reliability | 4.2/5 | 5/5 |
| Foundation Year | 2020 | 2001 |
| Regulated in Countries | Malaysia, British Virgin Islands, Vanuatu, Saint Vincent and the Grenadines, Jersey, Malta | United States, Australia, Canada, United Kingdom, Japan, British Virgin Islands, Singapore, Poland |
| Regulators | LFSA LFSA BVIFSC BVIFSC VFSC VFSC SVGFSA SVGFSA JFSC JFSC MFSA MFSA | NFA NFA CFTC CFTC ASIC ASIC CIRO CIRO FCA FCA JFSA JFSA BVIFSC BVIFSC MAS MAS KNF KNF |
Deriv
Broker Deriv is relatively reliable, with licenses from various global regulators.
OANDA
Oanda demonstrates a high level of reliability, evidenced by licenses from the world's leading regulators.
Account Opening
| Broker | Deriv | OANDA |
|---|---|---|
| Account Opening | 5/5 | 4.5/5 |
| Minimum Deposit |
|
|
Deriv
The account opening process at Deriv brokerage is quite simple and fast.
OANDA
Oanda offers a straightforward and structured registration process, ensuring convenience for clients.
Pros
- Clearly structured registration process.
- No minimum deposit, offering flexibility for traders.
Cons
- Additional documents may be required in some cases.
- Document verification can take from 1 to 2 working days.
Account Types
| Broker | Deriv | OANDA |
|---|---|---|
| Account Types | 4.5/5 | 3/5 |
| Trading Accounts |
|
|
| Minimum Deposit |
|
|
| Spread | from 0.5 points | from 0.5 points |
| Max Leverage | 1:4000 | 1:200 |
| Trading Assets (CFDs) |
|
|
| Trading Platforms |
|
|
| Demo Account | ||
| Swap-free Account |
Deriv
A wide variety of accounts on Deriv satisfies the needs of different traders, although there are certain limitations.
Pros
- A sufficiently wide selection of account types.
- The ability to trade binary options and multipliers.
Cons
- No accounts with fixed spreads.
OANDA
Oanda provides various trading accounts, but some specialized types are missing.
Pros
- Standard accounts are available.
- Demo accounts are offered.
- Swap Free accounts are available for traders following Islamic principles.
Cons
- Cent accounts are missing.
- No fixed spread accounts.
- No investment accounts are available.
Commissions
| Broker | Deriv | OANDA |
|---|---|---|
| Commissions | 4.3/5 | 3.5/5 |
| Spread | from 0.5 points | from 0.5 points |
| Average Spread (EURUSD) | 0.5 | 0.8 |
| Commission per Lot |
Deriv
Deriv's commissions are low.
Pros
- No commission for account funding and withdrawal.
- Low spreads and swaps on Financial type accounts.
Cons
- Fee for account inactivity.
OANDA
Oanda's fees are moderate, making this broker competitive.
Pros
- No fees for deposits and withdrawals.
- Low spreads on major currency pairs.
Cons
- Inactivity fee is charged.
- Swaps may be high for some currency pairs.
Deposit and Withdrawal
| Broker | Deriv | OANDA |
|---|---|---|
| Rating | 5/5 | 4/5 |
| Account Funding Methods |
|
|
Deriv
Broker Deriv offers various convenient methods for account funding and withdrawal without commission.
OANDA
Oanda offers flexible conditions for depositing and withdrawing funds, but payment system commissions and currency conversion costs may apply.
Pros
- The broker does not charge a fee for deposits and withdrawals.
- A wide selection of payment systems is available.
- No restrictions on the amounts of deposits and withdrawals.
Cons
- High commission fees for certain methods by payment systems.
- Withdrawal request processing time may be long.
- Cryptocurrencies are not available as a payment method.
Markets and Products
| Broker | Deriv | OANDA |
|---|---|---|
| Markets and Products | 3.8/5 | 4.4/5 |
| Forex | 57 | 48 |
| Precious Metals | 11 | 3 |
| Energy Carriers | 2 | 3 |
| Indices | 63 | 18 |
| Stocks | 57 | 1607 |
| ETF | 31 | - |
| Cryptocurrency | 31 | 18 |
| Soft Commodities | - | 4 |
Deriv
A wide range of assets in many segments.
Pros
- A large selection of assets for trading.
- Ability to trade synthetic indices 24/7.
Cons
- Absence of some important asset classes.
- Limited number of CFDs on stocks.
OANDA
Oanda offers an extensive set of markets and products, making it a versatile choice for traders of different levels.
Pros
- A wide range of currency pairs.
- A large selection of stocks and indices.
- Access to cryptocurrency trading.
Cons
- Maximum leverage is only up to 1:200.
Trading Platforms
| Broker | Deriv | OANDA |
|---|---|---|
| Rating | 5/5 | 5/5 |
| Trading Platforms |
|
|
Deriv
Broker Deriv offers a wide range of trading platforms to meet the needs of traders of different levels.
Pros
- A variety of platforms for different types of trading.
- The ability to build trading robots without programming knowledge.
- Has its own mobile application.
OANDA
Oanda provides high-quality trading platforms with deep functionality and integration with TradingView.
Pros
- Access to classic platforms MT4 and MT5.
- The fxTrade mobile app with integration with MT5.
- Integration with TradingView.
Cons
- No MetaTrader alternatives for desktop devices.
Analytics
| Broker | Deriv | OANDA |
|---|---|---|
| Rating | 3.5/5 | 5/5 |
Deriv
Deriv offers robust analytics with practical calculators and insightful market analysis, yet there's room for more real-time data tools.
Pros
- Detailed market insights on the Deriv Blog.
- Convenient risk management calculators.
Cons
- Lack of an economic calendar.
- Limited real-time data analytics.
OANDA
The Oanda broker's analytical section offers many tools that help traders make informed decisions.
Education
| Broker | Deriv | OANDA |
|---|---|---|
| Rating | 2.5/5 | 4.5/5 |
Deriv
Deriv's educational materials are limited to a blog, which restricts opportunities for comprehensive learning.
OANDA
Oanda provides an extensive range of educational resources, catering to new and experienced traders, focusing on leveraged trading.
Pros
- Comprehensive coverage of fundamental and technical analysis.
- Variety of resources including webinars, workshops, and live market analysis.
- Free access to premium content for live account holders.
Cons
- Some advanced topics may not be covered in depth.
Customer Support
| Broker | Deriv | OANDA |
|---|---|---|
| Rating | 4/5 | 5/5 |
| Email Support |
|
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| Hotline Phones | — |
|
| Social Media |
Twitter
LinkedIn
YouTube
Facebook
InstagramDeriv
Technical support at Deriv operates at a high level, providing fast and quality responses.
Pros
- Wide selection of communication channels.
- Quality and constructive responses.
Cons
- No information on the support schedule is available on the website.
- Some clients complain about the technical support service.
OANDA
Oanda's technical support provides extensive communication options and round-the-clock service, ensuring the professionalism and efficiency of the solutions provided.
Comparisons of Deriv and OANDA with other brokers
Conclusion
Deriv stands out as the better overall pick, while OANDA trails on aggregate criteria.
Deriv scored 4.3/5 and ranks 23 in our rating; OANDA has 4.3/5 and ranks 28.
We explain the reasons above in detail — fees, platforms, reliability, support, and more.
FAQ
Which broker is better: Deriv or OANDA?
Deriv comes out ahead by overall rank (score 4.3/5, position 23) versus OANDA (score 4.3/5, position 28).
Which broker is better for beginners: Deriv or OANDA?
Deriv is often a smoother start thanks to simpler onboarding and stronger baseline metrics. Still, your tools and budget should drive the final choice.
Who has lower typical trading costs (spreads/commissions) — Deriv or OANDA?
It depends on the instrument and account type. Compare the live conditions in the “Commissions” section on this page — we break down the nuances category by category.
What trading platforms are available with Deriv and OANDA?
Deriv: MetaTrader 5, Deriv X, cTrader. OANDA: MetaTrader 5, MetaTrader 4, TradingView, fxTrade. See the “Platforms” section for details and selection tips.
What markets can you trade with Deriv and OANDA?
Deriv: Forex, Precious Metals, Energy Carriers, Indices, Stocks, ETF, Cryptocurrency. OANDA: Forex, Precious Metals, Energy Carriers, Soft Commodities, Indices, Stocks, Cryptocurrency. Full lists and differences are in the “Markets” section.
What account types are offered by Deriv and OANDA?
Deriv: MT5 Financial, MT5 Derived, Deriv X, Deriv cTrader. OANDA: Standard, Swap Free. See “Account Types” for a side-by-side comparison.
What deposit and withdrawal methods are supported by Deriv and OANDA?
Deriv: FasaPay, Perfect Money, Skrill, Neteller, WebMoney, PaySafeCard, Jeton, SticPay, Airtm, Boleto, Paylivre, OnlineNaira, Beyonic, AstroPay, 1foryou, Volet, Swift, Visa, Mastercard, Maestro, Diners Club, JCB, PayTrust88, Help2pay, DragonPhoenix, ZingPay, Ngan Luong, Trustly. OANDA: Skrill, Neteller, Swift, Visa, Mastercard. Check method-specific fees/settlement times.
Which broker is safer — Deriv or OANDA — and how was this assessed?
We consider regulation, corporate transparency, fund protection, and incident history. See the “Reliability” section for our findings.
