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How to buy Crypto with OANDA

How to buy Crypto with OANDA

Adrian Graham
Fact Checked
Oct 22, 2022

Summary: The OANDA trading platform only offers 4 cryptocurrency CFDs to trade against US Dollars. This method means you are buying a contract that tracks the price of the crypto asset, but not the real underlying coin.

If you want to use a multi-asset broker that offers over 70 Cryptos and thousands of Stocks, ETFs, Commodities, and Currencies - we recommend eToro.

Table of Contents

Best Alternative to OANDA for Crypto

Platform Highlights

  • Fast and Cheap USD, EUR, GBP and 30 other currency deposits from global banks.
  • Trade over 80 Cryptocurrencies and 8,000 Stocks in 180 countries around the world.
  • Globally licensed broker by FINRA, FCA, ESMA and other financial authorities.

Can I buy or trade Crypto with OANDA?

OANDA does not directly offer cryptocurrency trading or investing through its MT4 platform. They only offer 4 crypto CFDs (contracts-for-difference) for Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC) and Ethereum (ETH). This is an expensive and outdated way to invest in cryptocurrencies, with spreads starting at 1% and fees as high as 0.5% per trade.

OANDA Crypto CFDs
OANDA Crypto CFDs on their Trading Platform.

How to trade Crypto with OANDA

If you want to trade cryptocurrencies with OANDA, you need to open a live account and deposit at least $250. Then, go to the ‘CFDs’ tab on their platform and select the ‘crypto’ drop-down menu. You can now trade BTC/USD, BCH/USD, ETH/USD, and LTC/USD pairs.

How to buy Bitcoin or Crypto with an OANDA Alternative

The best alternative to buy, sell and trade over 70 Cryptocurrencies and 7,000 Stocks, ETFs, Commodities, Bonds, Currencies, and more is eToro.  They are the world’s leading social trading platform, with over 20 million registered users. The company has been operational since 2007 and is regulated by CySEC, FCA, and ASIC.

You can get started with this simple guide:

  1. Create an account: Sign up to the eToro platform and verify your identity (personal or company).
  2. Fund your account: Select the 'Deposit Funds' button on the bottom of your screen to deposit USD, EUR, GBP, or AUD from your Bank Account, Debit Card, Credit Card o PayPal Account.
  3. Find Crypto: Once the funds hit your account, find the Crypto you want to buy on the eToro platform with their 'Discover' tab.
  4. Execute your trade: Input the fiat amount you want to buy and execute your trade.
Trade Crypto, Stocks, ETFs and more with eToro.

About OANDA

OANDA is a global leader in currency data, offering forex & CFD trading, corporate fx payments and exchange rates services for a wide range of organizations and investors. Through its award-winning online trading platform, clients can trade over 100 instruments including currency pairs, precious metals, indices and commodities.

OANDA

The company is a registered Futures Commission Merchant (FCM) with the Commodity Futures Trading Commission (CFTC) and a member of the National Futures Association (NFA) (ID 0308179). The company is also registered with the Financial Conduct Authority (FCA) of the United Kingdom and is a member of the Investor Compensation Fund (ICF).

OANDA is a market maker and a trusted source for currency data. It has been connecting people through trading financial markets for over 20 years. OANDA's vision is to revolutionize the world of online trading by making it more accessible, transparent, and fair for everyone. The company's mission is to provide a superior trading experience through innovative technology, low spreads and exceptional customer service.

Adrian Graham

Co-Founder & former banker turned Full-Time DeFi analyst and researcher. Left traditional finance to pursue my interest in digital assets and decentralized finance.

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