IC Markets vs Oanda

IC Markets vs OANDA Comparison Table 2023
IC Markets OANDA
4.8
4.5

OANDA is #4 in our broker rankings.

United States Flag Traders from US not accepted
United States Flag Traders from US accepted

IC Markets is a respected multi-asset broker offering premium trading technology, highly competitive pricing and 24/7 customer support. The broker provides various social trading features for beginners whilst experienced traders can enjoy advanced charting and analysis tools. Over 180,000 clients from more than 200 countries have signed up with the heavily regulated and trustworthy brand.

OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is authorized by leading regulators, including the CFTC/NFA. Around the clock support is available, alongside flexible contract sizes and automated trade executions.

CFDs are not available to residents in the United States.
Bonus Offer
$5,000 welcome bonus with a deposit of $500
Comment by Reviewer
"IC Markets offers a top-class environment for traders of all experience levels and strategies. Industry-leading platforms, superior pricing and flexible accounts will meet the needs of both beginners and active day traders." "We recommend OANDA for traders seeking a user-friendly platform with premium market research and a straightforward joining process. OANDA is a particularly good pick for US traders with authorization from local regulators and a secure trading environment."
Pros
  • Low fees with spreads from 0.0 pips and zero commissions
  • Premium educational resources and trading tools including podcasts, forex calculators and tick charts
  • Beginner-friendly social trading features including IC Social, Myfxbook and Zulutrade
  • 15+ payment methods in 10 base currencies including PayPal and Skrill
  • Responsive 24/7 customer support plus an extensive help centre
  • Reliable MT4 and cTrader platforms and mobile apps
  • Fast order execution speed of under 40ms
  • High leverage up to 1:500
  • Industry-leading platforms including MT4 and TradingView
  • Reliable, trustworthy and secure brand with authorization from tier-one regulators
  • API facilitates access to 25 years of historical data and rates from 200+ currencies
  • The OANDA web platform offers advanced charts plus guaranteed stop-loss orders (GSLOs)
  • Feature-rich app with 50 indicators, 11 drawing tools and 9 charting styles
  • Wide selection of instruments including 70+ forex pairs
  • Transparent pricing structure with no hidden charges
  • Low minimum deposit for beginners
  • US clients accepted
Cons
  • No bonus deals for new traders
  • Traders from the US not accepted
  • Two-factor authentication not available for extra account security
  • Stock trading not available in all countries
  • Customer support not available on the weekend
Awards
  • Best MT4/MT5 Broker 2023 - DayTrading.com
  • Best Forex Broker 2022 - DayTrading.com
  • Best Overall Broker 2020 - DayTrading.com
  • Best Trading App 2020 - DayTrading.com
  • Best US Broker 2023 - DayTrading.com
  • Best Trading Tools winner
  • (Online Personal Wealth Awards 2021)
  • Awarded highest overall client satisfaction
  • (Investment Trends 2021 US Leverage Trading Report, Margin Forex)
  • Awarded highest client satisfaction for mobile platform/app
  • (Investment Trends 2021 US Leverage Trading Report, Margin Forex)
  • Voted Most Popular Broker 2021
  • (TradingView Broker Awards)
  • Voted Best Forex and CFD Broker 2021
  • (TradingView Broker Awards)
Instruments
Futures, CFD, Forex, Crypto, REITs, Volatility Index Forex
Demo Account
Yes Yes
Minimum Deposit
$200 $0
Payment Methods
Debit card (Visa or Mastercard), Automated Clearing (ACH), bank transfer deposits
Minimum Trade
0.01 Lots $0
Regulator
ASIC, CySec, FSA CFTC, NFA
Margin Trading
No Yes
MetaTrader 4
Yes Yes
MetaTrader 5
Yes No
cTrader
Yes No
AlgoTrader
No No
OmniTrader
No No
TradingView
No Yes
Autochartist
No Yes
eSignal
No No
Trading Central
No No
STP Account
No No
ECN Account
No No
DMA Account
Yes No
MAM Account
Yes No
PAMM Account
Yes No
LAMM Account
Yes No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No No
Market Maker
No Yes
P2P Trading
No No
Spot Trading
Yes Yes
Mobile Apps
iOS, Android and Windows FxTrade, MT4
Auto Trading
Yes, via EQUINIX NY 4 EAs
Copy Trading
Yes No
Copy Trading Platform
The IC Social app is easy-to-use and allows traders to learn, share and mirror positions in a few clicks. The app also hosts risk management tools and facilitates direct messaging and dedicated trading groups. Alternatively, IC Markets provides access to popular third-party copy trading tools - ZuluTrade and Myfxbook.
Social Trading
No No
Trade Signals
Yes (Via Robot Feature)
VPS Hosting
Yes No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No Yes
Inactivity Fee
0
Islamic Account
Yes No
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • CHF
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • CHF
  • HKD
  • SGD
Stock Exchanges
Commodities
CFD Trading
Trade CFDs 24/5 on popular markets including forex, commodities, indices, stocks and bonds. IC Markets offers deep liquidity, raw spreads and high leverage. CFD trading not offered
Leverage
ASIC and CySEC -1:30, FSA - 1:500, 1:1000 Elsewhere 1:30 EU, 1:200 Global
FTSE Spread
1 pt 1.0
GBPUSD Spread
0.5 pips 3.4
Oil Spread
1 pt 3.0
Stocks Spread
Variable
Forex Trading
Trade currencies with 0.0 pip spreads at one of the world's leading forex brokers. IC Markets is a great choice for serious traders with superior execution and low fees. OANDA offers over 70 forex pairs, more than many alternatives. The broker's in-house platform also offers impressive execution speeds and a suite of advanced charting and analysis tools.
Forex App

IC Markets deliver mobile apps for both their cTrader and MT5 platforms. Both have been developed on android and iOS separately, taking full advantage of the functionality available on each. With raw pricing, and spreads from 0.0, the apps deliver an excellent trading tool for all levels of trader. The speed of execution synonymous with IC Markets is retained across their apps.

The FxTrade app is OANDA’s proprietary forex trading application. One-click trading, historical price history and straightforward account management is available. Traders can speculate on 70 major, minor and exotic currency pairs. The forex app is available to download from the Apple App Store and Google Play.

GBPUSD Spread
0.5 pips 3.4
EURUSD Spread
0.1 pips 1.6
EURGBP Spread
0.5 pips 1.7
Assets
56+ 70
Cryptocurrency
IC Markets offer a diverse range of cryptos, with super small spreads. They also offer many cryptocurrencies not available elsewhere, without the need of a virtual wallet. Speculate on the world's biggest cryptos by market cap. Commissions are lower than many peers starting at 0.25%. Users can also trade digital currencies in a few taps through the iOS and Android mobile app.
Spread
BTC 0.4%, ETH 1% $100
Coins
  • BTC
  • BCH
  • ETH
  • LTC
  • DASH
  • XRP
  • EOS
  • EMC
  • NMC
  • PPC
  • BTC
  • ETH
  • LTC
  • BCH
  • PAXG
  • LINK
  • MATIC
  • UNI
  • AAVE
  • SOL
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
CFDs are not available to residents in the United States.
More Comparisons
IC Markets
vs
OANDA
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