Oanda vs Plus500 2026: Which Broker is Better for Italian Traders?

When comparing trading costs for Italian traders, Plus500 often has an edge on spreads for major pairs like EUR/USD, starting from 0.6 pips, while Oanda’s spreads start around 0.8 pips and are variable based on market conditions. Oanda does not charge commissions on forex trades, but its spread is the primary cost. For high-volume Italian traders, Oanda’s pricing may become more competitive due to its transparency and no hidden fees. Plus500 applies a spread-only model but may include overnight funding costs that are slightly higher. Overall, Plus500 suits low-volume retail traders, while Oanda can be cheaper for active scalpers in Italy after accounting for volume discounts.

Oanda offers two main platforms: its proprietary web platform and full integration with TradingView, which is highly popular among Italian traders for advanced charting and technical indicators. Plus500 provides a proprietary web-based platform and a highly rated mobile app, both in Italian, with a clean design focused on ease of use. For Italian traders who prefer automated trading or custom indicators, Oanda’s MT4 support (via third-party) and API access give it an advantage. Plus500 is ideal for beginners who value simplicity and fast execution on the go. Both platforms are available in Italian language and are optimised for local internet speeds.

Oanda uses a market-making model with no re-quotes and offers fast execution via its dedicated infrastructure, with slippage occurring mainly during volatile events. Plus500 also operates as a market maker and provides near-instant execution with minimal requotes. For Italian traders, Plus500’s execution speed is slightly better on its web platform, while Oanda’s execution quality is more consistent across all asset classes. Both brokers have acceptable slippage policies for retail traders in Italy.

Both Oanda and Plus500 are authorised by CONSOB, Italy’s financial regulator, meaning they comply with ESMA’s strict client protection rules, including negative balance protection and leverage caps (up to 30:1 for retail forex). For Italian traders, this ensures their funds are held in segregated accounts and they have access to investor compensation schemes. Oanda is additionally regulated by the FCA and ASIC, offering extra oversight. Plus500 is regulated by multiple European authorities, including CySEC, with CONSOB oversight for Italy. This dual regulation gives Italian retail traders confidence in both brokers’ reliability and adherence to local financial laws.

Italian traders can fund their Oanda or Plus500 accounts using SEPA bank transfers, standard Bank Transfers, and PostePay prepaid cards – all in EUR with no conversion fees. Deposits via SEPA are usually processed within one business day, while PostePay often provides instant credit. Withdrawals are handled via the same methods: SEPA withdrawals from Plus500 are typically processed within 1-3 days, while Oanda takes 2-5 business days. Both brokers do not charge internal fees for deposits or withdrawals, though bank intermediary charges may apply. For Italian traders, PostePay is a particularly convenient option for quick deposits, and both brokers support it seamlessly. Minimum deposit at Oanda is €0 (initial €250 recommended), while Plus500 requires €100.

Both Oanda and Plus500 offer swap-free Islamic accounts to Muslim traders in Italy who require Sharia-compliant trading. Oanda provides these accounts upon request after verifying the trader’s eligibility, and they are available in EUR with no additional fees. Plus500 automatically offers Islamic accounts for Italian residents, with no swap or interest charges on overnight positions. Both brokers ensure that Islamic accounts maintain the same execution quality and access to instruments, though leverage may be subject to standard ESMA limits. For Italian Muslim retail traders, this allows participation in forex and CFD markets without conflicting with religious principles.

Oanda offers customer support to Italian traders via live chat and email in English and Italian, with phone support available during market hours. Plus500 provides 24/7 live chat and email support in Italian, along with an extensive FAQ section. Both brokers have responsive teams, but Plus500’s round-the-clock service is beneficial for Italian traders who trade during non-standard hours. Oanda’s support is slightly slower for Italian speakers due to limited Italian-language agents.