OANDA vs M1 Finance

OANDA vs M1 Finance Comparison Table 2024
OANDA	M1 Finance
Review 4.3	Review 3.9

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.	M1 Finance is a US brokerage that allows users to build a customizable investment portfolio from a range of 6000+ stocks and shares, ETFs and cryptocurrencies. The innovative 'pie' based portfolio management system allows traders to build several portfolios with different aims, and the brokerage supports machine-learning tools that can provide automated portfolio management.
Customer Reviews
4 Based on 3 OANDA customer reviews
Bonus Offer
	M1 Finance Plus free for 3 months on new accounts
Comment by Reviewer
"OANDA will serve day traders looking for a trustworthy broker with a beginner-friendly platform, superb research and straightforward account opening. The $0 minimum deposit and excellent customer support makes it especially attractive to newer traders."	"M1 Finance remains a great choice for US investors who want a straightforward, commission-free way to invest in stocks and crypto. The intuitive dashboard, customizable portfolios and fractional shares should appeal to all experience levels and investing goals. "
Pros
The OANDA Trade web platform serves serious day 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	Thanks to additional extras like a bank account and loan service, M1 Finance continues to offer a one-stop shop for investors The broker offers commission-free stocks with low fees, plus fractional shares, making it a great choice for beginners The broker delivers a clean and easy-to-use dashboard that illustrates the current composition of your portfolio The firm offers a straightforward proprietary platform with intuitive portfolio management tools Multiple portfolios can be facilitated, with up to five accounts under the same login Customizable 'pies' allow investors to curate their own ETFs The range of 6000+ stocks and ETFs is highly competitive Bitcoin trading is available through M1 Crypto
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 day traders get limited fee rebates or perks compared to leading brands Weekend customer support and extended hours trading aren't available	Despite offering stocks and ETFs, M1 Finance doesn’t provide trading on mutual funds or options Unlike competitors such as Betterment, M1 does not employ any human financial advisors M1 Finance is only available in the US – eToro is a top alternative for the UK market Accounts with less than $20 and no trading activity for 90 days are charged a fee The way trades are placed puts transaction timing out of your control You cannot consolidate external accounts for planning purposes There are no stop-limit or stop-loss orders
Awards
Best Trading Tools winner 2021 - Online Personal Wealth Awards Awarded highest overall client satisfaction 2021 - Investment Trends US Leverage Trading Report, Margin Forex Awarded highest client satisfaction for mobile platform/app 2021 - Investment Trends US Leverage Trading Report, Margin Forex Voted Most Popular Broker 2021 - TradingView Broker Awards Voted Best Forex and CFD Broker 2021 - TradingView Broker Awards	Best Roth IRA Accounts - 2020
Instruments
CFDs, Forex, Stocks, Indices, Commodities, Crypto, Bonds, ETFs, Spread Betting	Stocks, ETFs, OTC stocks
Demo Account
Yes	Yes
Minimum Deposit
$0	$100
Trading Platforms
OANDA Trade MT4 TradingView AutoChartist	Own
Payment Methods
Credit Card Debit Card Mastercard Neteller Skrill Trustly Visa Wire Transfer	Automated Customer Account Transfer Service Cheque Wire Transfer
Minimum Trade
0.01 Lots	$1
Regulator
FCA, ASIC, KNF, MAS, CIRO, FFAJ, BVI	SEC, FINRA
Margin Trading
Yes	Yes
Margin Rate
2%	3.5 - 5%
STP Account
No	No
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	Yes
Robo Advisor
No	Yes
Negative Balance Protection
Yes	No
Market Maker
Yes	No
P2P Trading
No	No
Spot Trading
Yes	Yes
Mobile Apps
OANDA Trade, MT4	Yes
Android App Rating
3.7
iOS App Rating
4.7
Auto Trading
Expert Advisors (EAs) on MetaTrader	Yes
Copy Trading
No	No
Social Trading
No	No
VPS Hosting
No	No
Tournaments
No	No
Demo Competitions
No	No
Ethical Investing
No	Yes
Custodial Account
No	Yes
Guaranteed Stop Loss
Yes	No
Inactivity Fee
$10	$20
Islamic Account
No	No
Account Currencies
USD EUR GBP CAD AUD JPY CHF HKD SGD	USD
Stock Exchanges
Australian Securities Exchange (ASX) CAC 40 Index France DAX GER 40 Index Dow Jones Euronext FTSE UK Index Hang Seng London Stock Exchange Nasdaq Russell 2000 S&P 500	Dow Jones Nasdaq New York Stock Exchange
Commodities
Copper Corn Gold Natural Gas Oil Palladium Platinum Silver Soybeans Sugar Wheat
CFD Trading
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.	CFD trading not offered
FTSE Spread
1.0
GBPUSD Spread
1.4
Oil Spread
3.0
Stocks Spread
12 (Apple Inc)	$0
Forex Trading
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.	Forex trading not offered
GBPUSD Spread
1.4
EURUSD Spread
0.8
EURGBP Spread
0.9
Assets
68
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.	M1 Finance users can open a crypto account to invest in 10 cryptocurrencies including Bitcoin, Ethereum, Cardano and Solana. You can also invest in six crypto-related funds and ETFs, which are a good way to get broader exposure to the digital currency market.
Spread
$100	Variable
Coins
BTC ETH LTC BCH PAXG LINK UNI AAVE	BTC ADA AVE ETH LINK ALDO BAT ATOM
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No

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