Mitrade vs OANDA: which broker is better in 2026?

We compare Mitrade and OANDA — two forex & CFD brokers — side by side across regulation, fees, platforms, minimum deposit, and our editorial scores. Based on our overall editorial score, OANDA edges ahead (4.0/5), but the right choice depends on what matters most to you — check the breakdown below.

Side-by-side comparison

CriteriaMitradeOANDA

Overall score 3.6 4.0

Regulation & safety 3.5 4.5

Fees & deposit 4.0 3.5

Platform & assets 3.5 4.0

User support 3.5 4.0

Trust score72/10083/100

Minimum depositVaries by account type — check the official siteVaries by account type — check the official site

Demo accountAvailableAvailable

PlatformsProprietary web platform, iOS/Android mobile appProprietary web/desktop platform, MetaTrader 4, TradingView (integrated), Mobile app, API v20

Fee modelCommission-free, spread-only pricing (plus overnight funding on leveraged positions) — exact spreads not yet verified in detailSpread model (Standard account) or core spread + commission (Core/Elite) — per-region details not yet verified with exact figures

Pros & cons

Mitrade

Multi-jurisdiction licensing (ASIC Australia, CySEC Cyprus, FSCA South Africa) with an easy, beginner-friendly proprietary platform
Commission-free spread-only pricing; Australian platform reportedly carries a Lloyd's of London excess-of-loss insurance policy (capped at AUD 1,000,000 for qualifying claims on insolvency)
Wide CFD coverage (forex, indices, commodities, crypto, ETFs, shares) on web + mobile, with demo accounts and modern payment options (Apple Pay/Google Pay in AU)

Regulatory history includes a 2023 ASIC interim stop order (later revoked) and a 2024 Philippines SEC advisory — worth reading before depositing
Own platform only — no MetaTrader 4/5 or cTrader for advanced/algorithmic traders
Leveraged CFDs are high-risk, and the UAE licence covers promotion only, not brokerage — entity coverage varies a lot by country

OANDA

Very strong & rare regulation — licensed in the US (NFA/CFTC) plus FCA/ASIC/MAS/IIROC
Respected reputation for price data & execution; strong trading API for automation
Flexible platform choice: proprietary + MT4 + TradingView

Not the cheapest for high volume compared to raw ECN brokers
Product availability (e.g. crypto CFDs) differs per region/entity
Leveraged products remain high-risk

Regulation at a glance

Mitrade

Operates through separate entities per region: Mitrade Global Pty Ltd (Australia) under ASIC; MiTrade EU Limited (Cyprus) under CySEC (licence 438/23, since 9 October 2023); a Financial Sector Conduct Authority (FSCA) entity in South Africa via the 2025 acquisition of Fridah Asset Managers (to be renamed Mitrade Markets Pty Ltd); plus a 2026 UAE Capital Markets Authority Category 5 licence limited to introduction/promotion only (NOT brokerage). Which entity serves you — and its protections — depends on your country. Verify directly with the relevant regulator before signing up.

OANDA

Operates multiple entities with strict oversight per region: NFA/CFTC (US), FCA (UK), ASIC (Australia), MAS (Singapore), IIROC (Canada). One of the few retail brokers licensed in the US market.