OANDA vs Plus500 for USA market: side-by-side comparison of trading platforms and assets
For traders in the United States, the search for a reputable and powerful online broker can feel like navigating a minefield with surprisingly few safe paths. Strict regulations mean many international giants are off-limits, making the choice between the available options all the more critical. Two names that consistently rise to the top are OANDA and Plus500.
But which one is the right fit for you? While they may seem similar at a glance, a closer look reveals they are built for different types of traders. Let’s break down this heavyweight bout.
OANDA vs. Plus500: regulation
When real money is on the line, a broker’s trustworthiness is non-negotiable.
- OANDA: Founded in 1996, OANDA is a true pioneer in the online brokerage space. It has deep roots in currency data and conversion, serving major financial institutions. For a US trader, its regulatory status is rock-solid: it’s registered with the U.S. Commodity Futures Trading Commission (CFTC). It is a Forex Dealer Member of the National Futures Association (NFA #0325821). This means it operates under the strict oversight of American authorities.
- Plus500: Established in 2008, Plus500 has rapidly expanded to become a trusted name globally. However, its services differ significantly depending on your location, especially for US-based traders.
- For US traders: Futures and options only. It is crucial to understand that Plus500 operates in the US exclusively through Plus500US Financial Services LLC. This entity is a registered Futures Commission Merchant (FCM) with the Commodity Futures Trading Commission (CFTC) and a member of the National Futures Association (NFA). This regulated status allows Plus500 to legally offer futures and options trading to US customers, with client funds held in segregated accounts for security. Critically, the popular CFD products offered on its international platforms are NOT available to US traders.
- For international traders: The CFD powerhouse. Outside the US, through subsidiaries like Plus500UK Ltd (FCA) and Plus500AU Pty Ltd (ASIC), Plus500 is a leading CFD provider. It boasts an impressive regulatory portfolio and offers its renowned platform with access to over 2,800+ CFD instruments on shares, forex, indices, and commodities.
OANDA vs. Plus500: trading assets
The variety of markets you can access is a key differentiator, but for US traders, the type of asset is just as important as the quantity.
- OANDA: A focused CFD and forex suite. OANDA offers a curated selection of over 100 trading instruments through its CFD platform. Its focus is on core markets: 68+ major Forex pairs, 18 global indices, commodities like oil and natural gas, precious metals, and a wide array of popular Cryptocurrencies like Bitcoin and Ethereum. It’s a focused toolkit for traders concentrating on the world’s most liquid markets using CFDs.
- Plus500: Two completely different worlds.
- For international traders: The platform is a CFD powerhouse, offering a massive portfolio of over 2,800+ CFDs. This includes forex, indices, commodities, and a vast selection of individual shares and ETFs not available on OANDA’s platform. It’s a one-stop shop for international traders who want to speculate on a huge range of global assets via CFDs.
- For US traders: The offering is different. The Plus500 USA platform gives U.S. clients direct access to trade futures contracts on a wide variety of U.S. and global markets. In addition to futures, Plus500 also offers options on futures, which can be used for both speculation and hedging. This offering is distinct from the standard CFD trading available in other regions and is specifically tailored for the U.S. market. U.S. traders can access a diverse range of futures and options, including those on Bitcoin, oil, and stock indices like the S&P 500.
The bottom line: For a US trader, this isn’t a comparison between two similar asset lists. It’s a choice between OANDA’s CFD offering on forex, indices, and crypto, and Plus500US’s regulated futures and options exchange. Your decision will hinge on whether your strategy is better suited to the CFD model or the traditional futures market.
OANDA vs. Plus500: platform and experience
How you trade is just as important as what you trade.
- OANDA: The flexible traditionalist. OANDA caters to all preferences. You can use its intuitive, proprietary web platform (OANDA Trade) packed with advanced charting and tools like an economic overlay. For the purists, it offers full support for the legendary MetaTrader 4 (MT4) and its more advanced successor, MetaTrader 5 (MT5). This multi-platform flexibility is a huge plus for everyone, from beginners to algorithmic traders who rely on automated strategies.
- Plus500: The streamlined specialist. Plus500 operates exclusively on its own proprietary platform. It’s renowned for being exceptionally user-friendly and intuitive, with a clean interface that makes executing trades simple. It’s a streamlined, powerful system designed specifically for its product offering without the clutter of traditional platforms.
Winner: If you value choice, advanced tools, and the power of both MT4 and MT5, OANDA wins. If you prefer a modern, clean, and purpose-built interface, you’ll love Plus500’s platform.
OANDA vs. Plus500: fees and account basics
The cost of doing business can eat into your profits.
- OANDA: The accessible account. A major advantage for beginners is OANDA’s $0 minimum deposit. You can open an account and start trading with any amount you’re comfortable with. Its fees are primarily built into the spread, and it charges a standard 0.5% currency conversion fee.
- Plus500: The low-cost contender. Plus500 also champions a commission-free model, with tight spreads as its main source of revenue. However, it requires a minimum deposit of $100 to start live trading. Be mindful of its inactivity fee (up to $10 per month after three months of no login), which OANDA only charges after a full year.
Winner: Slight edge to OANDA for its $0 minimum deposit, making it more accessible for those wanting to start small.
OANDA vs. Plus500: the final verdict: who should choose who?
For US traders, the decision between OANDA and Plus500 is not about picking the “better” broker, but about choosing the right trading instrument for your strategy. They operate in fundamentally different arenas under US regulation.
Choose OANDA if:
- You want to trade Contracts for Difference (CFDs) on Forex, indices, commodities, and cryptocurrencies. OANDA provides a comprehensive CFD platform for these markets, which is its primary offering for US retail clients.
- You are a Forex-focused trader who values a deep, curated selection of currency pairs.
- You demand platform flexibility and want access to both a powerful proprietary platform and the industry-standard MetaTrader 4 and MetaTrader 5 suites.
- You prefer to start trading with no minimum deposit, lowering the barrier to entry.
Choose Plus500 US if:
- You want to trade futures and options on futures, not CFDs. Plus500US is a dedicated Futures Commission Merchant (FCM) and provides direct access to these exchange-traded products.
- Your strategy is suited to the regulated futures market for assets like stock indices, oil, or even Bitcoin futures.
- You appreciate a sleek, modern, and purpose-built platform that is designed specifically for its futures and options offering, prioritizing a streamlined user experience.
The bottom line: The narrative that Plus500 is “unavailable” to US traders is outdated. The reality is more specific: its international CFD platform is unavailable. Through its fully regulated US entity, Plus500US offers a legitimate and distinct service centered on futures and options.
79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Plus500EE AS is authorised and regulated by the Estonian Financial Supervision and Resolution Authority (Licence No. 4.1-1/18).
Therefore, the choice is clear-cut:
- For CFD trading on a wide range of spot markets, OANDA is your designated and well-established broker.
- For direct futures and options trading, Plus500US is a legitimate and regulated contender.
Your journey as a US trader must be built on a foundation of regulatory compliance and a clear understanding of the products you are trading. Your decision shouldn’t be based on brand popularity, but on whether your strategy aligns with the CFD model offered by OANDA or the futures market accessible through Plus500US.
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OANDA vs. Plus500: top brokers for US traders - FAQ