Comparison of OANDA vs Webull [ 2024 ]

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

Your expert: Alejandro Borja

OANDA

Your expert: Xavier Tarrasó

Webull

Main points

Fees

Low 4,3/5

Regulated

FCA, CFTC

Demo account

Yes

Low 4,8/5

Fees

SEC, FINRA

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

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 .

3.6 – Webull charges a spread of 1% on crypto trades, which is relatively high compared to some other brokers. However, the platform offers commission-free trading and a user-friendly experience .

Level

Low 4,3/5

Low 4,8/5

Brief explanation

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 .

Webull offers commission-free trading on its platform, making it an attractive option for cost-conscious investors. However, it charges a 1% spread on cryptocurrency trades, which is effectively the platform’s fee. This spread is relatively high compared to some other platforms, but it ensures that users do not face additional explicit trading fees. Webull does not charge for deposits and withdrawals made via ACH transfers, although wire transfers incur fees of $8 for deposits and $25 for withdrawals. Overall, Webull’s fee structure is straightforward and competitive for a platform offering commission-free trading .

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 .

Webull

Year Founded: Established in 2017, Webull has rapidly gained a solid reputation in the financial market, reflecting its stability and reliability in the industry.
Number of Users: Webull boasts millions of users globally, demonstrating widespread trust and adoption among retail investors and traders.
Security Methods: Webull employs robust security measures, including two-factor authentication (2FA) and encryption protocols, ensuring the safety and protection of users' funds and personal information.
Regulation: Webull is regulated by top-tier financial authorities, including the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) in the United States, providing an extra layer of security and trust.
Customer Service: Webull offers responsive customer service through various channels, including email, phone, and live chat, ensuring users can get assistance when needed.

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Direct link to the website

Product selection

Native token

OANDA does not have a native token.

Webull does not have a native token.

Earns

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

Webull does not offer staking or other earning options for cryptocurrencies. It focuses on trading a limited number of digital assets .

NFT marketplace

OANDA does not have an NFT marketplace.

Webull does not have an NFT marketplace.

Cripto/debit card

OANDA does not provide a card for its clients .

Webull does not offer a card for its clients .

Payment methods

Transfers

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

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

Mastercard

Yes, OANDA accepts Mastercard for deposits.

No, Webull does not accept Mastercard for deposits.

Wire transfer

Wise is not mentioned as a supported payment method .

Card

Yes, OANDA accepts credit/debit cards .

Information about Webull’s acceptance of credit/debit cards is not explicitly stated in the retrieved documents.

Comparative table

OANDA	Features	Webull
No minimum trade requirement, making it accessible for all traders.	Minimum Trade	Webull has a low minimum trade requirement, making it accessible for all users, particularly beginners.
Competitive fees, but high withdrawal costs for bank transfers.	Trading and Transaction Fees	While Webull offers commission-free trading, the 1% spread on crypto trades is relatively high compared to other platforms.
Supports 63 crypto trading pairs, offering good variety.	Number of Cryptocurrencies	Webull supports 11 different cryptocurrencies, providing a decent variety for users to choose from.
Wide range of pairs available, enhancing trading opportunities.	Crypto-to-Crypto Trading Pairs	The platform does not support trading cryptocurrencies directly against each other, limiting trading strategies.
Highly transparent with detailed information about fees, regulations, and services.	Website Transparency	The website provides clear and detailed information on fees and trading conditions, but the user experience and navigation could be improved.
OANDA does not provide a card for its clients .	Credit/Debit Card	Webull does not offer a card for its clients .
No dedicated crypto wallet service; relies on Paxos integration for custody.	Storage Offering	Webull does not offer wallet services or the ability to transfer crypto assets off the platform, limiting control over assets.
Does not offer staking or rewards programs.	Staking and Rewards	There are no staking or rewards programs available for crypto holders on Webull.
User-friendly mobile and desktop platforms with advanced charting tools.	Mobile App and Desktop	Webull’s mobile app and desktop platform are excellent, featuring advanced charting tools and a user-friendly interface.
24/7 support available, though response times can vary.	Customer Service	Customer service is available through various channels, but phone support is lacking, and response times can be slow.
Multiple methods available but high fees for bank transfers.	Deposit and Withdraw	The process is easy, but limited to bank transfers, which can be slower and less convenient compared to other methods like credit/debit cards.

Key features

Analysis tools

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 .

Webull provides advanced charting and screener tools, dozens of technical indicators, and in-depth charting features. They also offer educational resources and a mobile-first trading experience .

Mobile APP

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

Yes, Webull offers a highly rated mobile app that supports advanced features like charts, indicators, and paper trading .

Security

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.

Webull is regulated by the SEC and FINRA in the US, providing high investor protection levels. They offer SIPC insurance up to $500,000, including a $250,000 cash limit. However, they do not provide negative balance protection.

Additional features

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 .

Webull offers cryptocurrency trading through their Webull Pay app, which supports eight cryptocurrencies like Bitcoin, Ethereum, and Litecoin. The platform features a highly rated mobile app with advanced tools like charts and indicators. Webull provides competitive commissions and allows for fractional share trading, but lacks crypto-crypto trading pairs and wallet compatibility .

Anonymity

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

Webull does not support anonymous accounts. Users must submit personal information and verification documents during the account opening process .

Key points

Available 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).

Webull offers trading in cryptocurrencies but does not allow transfer of crypto assets on or off the platform. The available cryptocurrencies include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), Dogecoin (DOGE), and others totaling 11 different cryptocurrencies.

User-friendliness

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 .

Webull offers a streamlined and user-friendly mobile app for trading cryptocurrencies. The platform’s advanced charting tools and community features enhance the user experience. However, Webull’s focus on simplicity means it may lack some advanced features found in other platforms. Overall, it’s a solid choice for those looking for an easy and accessible way to trade crypto .

Value for money

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.

Webull provides great value for money with commission-free trading and advanced tools suitable for active traders. However, the inability to transfer cryptocurrencies off the platform could be a limitation for some users.

Countries of operation

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

United States, India, China, South Korea, most countries that permit crypto trading .

Best for

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.

Webull is ideal for active traders who want a commission-free platform with advanced charting tools and a wide selection of tradable assets. It’s best for those who don’t need to transfer cryptocurrencies off the platform and value a seamless mobile experience.

Account

Trading

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.

Webull allows direct cryptocurrency trading with a user-friendly interface and zero commissions. It offers a decent range of cryptocurrencies, making it a good choice for retail traders.

Deposit and withdrawal

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.

Webull allows deposits and withdrawals via ACH and wire transfers. The process is free and generally quick, but wire transfers can be more expensive compared to ACH transfers.

Account opening process

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.

Opening an account with Webull is straightforward and fully digital. Users complete an online application, provide personal and financial information, and verify their identity. Accounts are typically approved within one to two business days.

KYC required?

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

KYC verification is mandatory at Webull. Users must provide personal identification documents and proof of address as part of the account registration process.

Customer Service

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.

Webull offers customer support through email and in-app messaging. They also provide phone support during market hours. The support is generally responsive, though some users find the service to be slower during peak times.

Security

Which of these exchanges is for you?

Alejandro Borja

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.

Xavier Tarrasó

As an expert on our website, I recommend Webull for those interested in cryptocurrency trading due to its commission-free model and advanced trading tools. The platform’s user-friendly interface and excellent mobile app make it suitable for both beginners and experienced traders. However, keep in mind that Webull does not allow crypto transfers off-platform, which might be a limitation for some users. Overall, Webull is a solid choice for cost-effective and convenient crypto trading.

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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 OANDA vs Webull [ 2024 ]

OANDA

Webull

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

OANDA

Webull

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 OANDA and Webull