OANDA vs Phillip Nova 2026: Which Broker is Better?
Choosing between OANDA and Phillip Nova depends on your trading style, preferred markets, and budget. OANDA is headquartered in New York, USA, while Phillip Nova operates from Singapore. OANDA has the longer track record, established in 1996, compared to Phillip Nova which was founded in 2005. This in-depth comparison covers regulation, fees, platforms, markets, and overall ratings to help you decide which broker is the better fit in 2026.
OANDA
Phillip Nova
| OANDA | Phillip Nova | |
|---|---|---|
| BrokerRank Score | 4.3/5 ✓ | 3.4/5 |
| Min. Deposit | $0 | $0 |
| Spread from | 0.6 pips | 0.6 pips |
| Max Leverage | 1:50 ✓ | 1:20 |
| Regulation | CFTC, FCA, ASIC ✓ | MAS |
| Platforms | MT4, Proprietary Web, Proprietary Mobile | Proprietary Web, Proprietary Mobile, POEMS |
OANDA is the better choice overall, scoring 4.3/5 vs 3.4/5 on BrokerRank's independent rating. On fees, OANDA offers lower spreads (0.6 pips).
See full side-by-side comparison belowOANDA vs Phillip Nova: Key Differences
OANDA
WinnerPhillip Nova
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Fees Comparison
OANDA
Phillip Nova
Regulation & Trust
OANDA holds licences from FCA, CFTC, ASIC. Phillip Nova is regulated by MAS.
Markets & Assets
Both brokers offer access to Forex, Cfd, Indices, Commodities markets. Phillip Nova adds Crypto.
Fees & Spreads
On spreads, OANDA is more competitive with EUR/USD spreads from 0.6 pips, compared to 0.6 pips at Phillip Nova.
Trading Platforms
OANDA supports MT4, Proprietary Web, Proprietary Mobile. Phillip Nova offers Proprietary Web, Proprietary Mobile, POEMS. Both brokers are available on Proprietary Web, Proprietary Mobile.
Minimum Deposit
OANDA requires no minimum deposit, while Phillip Nova sets no minimum deposit. This makes OANDA accessible to traders with any budget.
Overall Ratings
BrokerRank scores OANDA at 4.09/5 and Phillip Nova at 3.39/5, based on 50+ data points covering regulation, fees, platforms, markets, and user experience. OANDA leads overall with a clear advantage.
BrokerRank Verdict
Who Should Choose Which?
OANDA
4.3/5
Choose OANDA if you want…
- Higher overall rating (4.3/5)
- Higher leverage (up to 1:50)
- More regulatory licences (7)
- More established (est. 1996)
Phillip Nova
3.4/5
Choose Phillip Nova if you want…
- More market types (5)
Also consider
We earn a commission when you open an account through these links, at no extra cost to you. Our ratings are scored independently — see the full independent ranking.
Both OANDA & Phillip Nova are available in
Frequently Asked Questions
1Is OANDA better than Phillip Nova?
OANDA scores higher overall on our independent rating system. OANDA holds a 4.3/5 rating vs Phillip Nova's 3.4/5. The best choice ultimately depends on your trading style — see our full verdict above for a detailed breakdown.
2Which has lower fees, OANDA or Phillip Nova?
OANDA offers spreads from 0.6 pips, while Phillip Nova starts at 0.6 pips. Check the fees section above for a full breakdown.
3What is the minimum deposit for OANDA vs Phillip Nova?
OANDA requires a minimum deposit of $0. Phillip Nova requires $0.
4Which broker is safer, OANDA or Phillip Nova?
OANDA is regulated by CFTC, FCA, ASIC, MAS, CIRO, BVI FSC, KNF, while Phillip Nova holds licences from MAS.
5What trading platforms do OANDA and Phillip Nova support?
OANDA supports MT4, Proprietary Web, Proprietary Mobile. Phillip Nova supports Proprietary Web, Proprietary Mobile, POEMS.
6Can I use both OANDA and Phillip Nova?
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
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