IFC Markets vs Oanda

IFC Markets vs OANDA Comparison Table 2024
IFC Markets OANDA
2.9
4.3
United States Flag Traders from US not accepted
United States Flag Traders from US not accepted

IFC Markets is an STP broker that was founded in 2006 and has since gained 200,000 clients and several awards. This broker has some of the most interesting and wide-ranging additional tools, elevating its clients' trading experience via portfolio quoting, personal composite instruments and extensive analytics.

OANDA is an award-winning global broker, established in 1996. The hugely respected brand offers competitive trading accounts and serves clients from 196 countries. It remains a popular option with both beginners and experienced traders thanks to its user-friendly and sophisticated web platform, no minimum deposit and premium currency products and services. The company is also overseen by reputable regulators, including the FCA, ASIC and CIRO.

Customer Reviews
4
Bonus Offer
30% welcome bonus + 30% activity bonus
Comment by Reviewer
"I recommend this firm to users looking for new speculative opportunities and strategies not available at most brokers, including a blockchain-based proprietary platform and a bespoke synthetic instrument development tool. That said, it's a shame that the firm is not regulated by a more reputable authority." "OANDA will serve day traders looking for a trustworthy broker with a beginner-friendly platform, superb research and straightforward account opening. The $0 minimum deposit and excellent customer support makes it especially attractive to newer traders."
Pros
  • Users can choose from the powerful MT4, MT5 or the firm's proprietary NetTradeX platform for all assets
  • I appreciate that the broker offers beginner-friendly Micro accounts with a minimum deposit of just $1
  • The brokerage supports a unique system that allows clients to develop their own synthetic instruments
  • IFC Markets clients can trade more than 600 instruments with fixed or floating spreads from 0.4 pips
  • Clients have a wide range of payment methods and base currencies to choose from
  • The OANDA Trade web platform serves serious day traders, with 100+ technical indicators, an economic overlay and a Dow Jones news feed
  • OANDA recently introduced a prop trading service, OANDA Labs Trader, offering a 75% profit share to skilled traders
  • The guaranteed stop loss order (GSLO) is a useful risk management tool not available at many alternatives
  • There are no restrictions on short-term trading strategies with scalping, hedging and netting permitted
  • With 68 forex pairs and access to a premium MT4 upgrade, the broker will serve active forex traders
  • Oversight from tier-one regulators like the FCA and ASIC makes the broker reliable and trustworthy
  • The brand has an excellent reputation and 25 years' experience with a string of awards
  • The $0 minimum deposit will appeal to newer traders
  • Spreads are tight and there are zero hidden fees
Cons
  • IFC Markets is regulated by the British Virgin Islands Financial Services Commission, a weak financial regulator
  • I'm disappointed that several payment methods incur steep deposit and withdrawal fees of up to 20%
  • GBP base currency isn't supported, so UK clients will have to pay hefty currency conversion fees
  • The range of payment methods trail competitors, only offering a handful vs the 10+ available at alternatives like AvaTrade
  • It's a shame that social and copy trading tools aren't supported for traders who want to explore other ways to trade
  • High-volume day traders get limited fee rebates or perks compared to leading brands
  • Weekend customer support and extended hours trading aren't available
Awards
  • Best Broker South East Asia 2020 - International Business Magazine 
  • Best Trading Tools winner 2021 - Online Personal Wealth Awards
  • Awarded highest overall client satisfaction 2021 - Investment Trends US Leverage Trading Report, Margin Forex
  • Awarded highest client satisfaction for mobile platform/app 2021 - Investment Trends 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
Forex, CFDs, indices, shares, commodities, cryptocurrencies, ETFs, bonds CFDs, Forex, Stocks, Indices, Commodities, Crypto, Bonds, ETFs, Spread Betting
Demo Account
Yes Yes
Minimum Deposit
$1, ¥100 $0
Trading Platforms
  • MT4
  • MT5
  • OANDA Trade
  • MT4
  • TradingView
  • AutoChartist
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
BVI FSC, SC, Labuan Financial Services Authority FCA, ASIC, KNF, MAS, CIRO, FFAJ, BVI
Margin Trading
No Yes
Margin Rate
2%
STP Account
No No
ECN Account
No No
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No Yes
Market Maker
No Yes
P2P Trading
No No
Spot Trading
No Yes
Mobile Apps
Yes OANDA Trade, MT4
Android App Rating
3.7
iOS App Rating
4.7
Auto Trading
Yes (APIs) Expert Advisors (EAs) on MetaTrader
Copy Trading
Yes No
Copy Trading Platform
Follow and profit from top traders using IFC Market's copy solution.
Social Trading
Yes No
Trade Signals
Yes (Via Chartist Software)
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No Yes
Inactivity Fee
$10
Islamic Account
Yes No
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • CHF
  • HKD
  • SGD
Stock Exchanges
Commodities
CFD Trading
IFC Markets clients can access CFDs across commodities, cryptos, indices and ETFs. I’m pleased to see that assets are all available on MT4, MT5 and NetTradeX with decent leverage rates of up to 1:400. You can speculate on popular financial assets covering forex, commodities, indices, metals and bonds. You can get started with $0 minimum deposit, making the broker a good pick for beginners. There’s also over 130 technical indicators available collectively in the MT4 and OANDA Trade platforms.
Leverage
1:400 1:200
FTSE Spread
300 1.0
GBPUSD Spread
3 1.4
Oil Spread
12 3.0
Stocks Spread
Variable 12 (Apple Inc)
Forex Trading
I like that there’s a decent range of 50+ major, minor and exotic forex pairs available at IFC Markets, with just a $1 minimum deposit. That said, spreads are fixed from 1.8 pips, which isn’t the lowest I’ve seen. OANDA offers 68 currency pairs, which is above the industry average. You can speculate on majors, minors and exotics, with spreads from 0.8 pips on popular pairs. There are no commissions and leverage is available up to 1:200. Average execution speeds are fast based on tests, at 12 milliseconds.
GBPUSD Spread
3 1.4
EURUSD Spread
1.8 0.8
EURGBP Spread
1.8 0.9
Assets
50 68
Currency Indices
  • USD
  • EUR
  • GBP
  • JPY
  • CAD
Cryptocurrency
IFC Markets also boasts a good selection of 15 cryptocurrency CFD pairs and I’m particularly impressed to see Bitcoin futures on offer. The free demo account is an excellent place to start if you want to practice your crypto trading strategies. OANDA offers trading on leading cryptocurrencies, including Bitcoin. You can place trades in the app hassle-free and practice in the unlimited demo account. The broker offers guaranteed stop-loss orders to help protect you against crypto market volatility.
Spread
50 pips $100
Coins
  • BTC
  • BTC
  • ETH
  • LTC
  • BCH
  • PAXG
  • LINK
  • UNI
  • AAVE
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
More Comparisons
IFC Markets
vs
OANDA
vs