feed linkedin-square facebook-square twitter-square

Oanda Alternatives

May 2019
Visit Oanda
77% of retail CFD accounts lose money
Our top picks for IC Markets alternatives
Pepperstone
74.6% of retail CFD accounts lose money
Oanda
77% of retail CFD accounts lose money
Oanda Alternatives

The best alternatives to Oanda are

  1. Pepperstone - Australian forex broker
  2. FXCM - UK-based forex broker
  3. Forex.com - Global FX and CFD broker
  4. IC Markets - Australian forex broker

Let's see in a bit more detail how the Oanda alternatives compare to Oanda and each other:

Oanda alternatives comparison
Oanda Pepperstone FXCM Forex.com IC Markets
Overall score 4.2 4.4 4.3 4.3 4.5
Fees score 3 stars 4 stars 4 stars 3 stars 5 stars
Account opening score 4 stars 4 stars 4 stars 4 stars 5 stars
Deposit and withdrawal score 4 stars 4 stars 4 stars 4 stars 5 stars
Web platform score 5 stars 4 stars 3 stars 4 stars 4 stars
Markets and products score 1 stars 1 stars 1 stars 1 stars 1 stars
Visit broker
77% of retail CFD accounts lose money
Visit broker
74.6% of retail CFD accounts lose money
Visit broker
73.62% of retail CFD accounts lose money
Visit broker
70% of retail CFD accounts lose money
Visit broker
74-89% of retail CFD accounts lose money

Why are these brokers considered good alternatives to Oanda? There are many areas based on which Oanda can be compared with others. When we say a given online broker is a good alternative to Oanda we mean these brokers are comparable in the following areas:

  • The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
  • The type of clients they target, i.e. beginners, experienced investors, or day traders.

Oanda alternatives recommendations

Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:

  • Oanda is recommended for forex traders that prefer a user-friendly platform and great research tools
  • Pepperstone is recommended for forex traders aiming for a good customer service
  • FXCM is recommended for forex traders looking for easy account opening, funding, and withdrawal processes
  • Forex.com is recommended for forex traders looking for great research tools and customer service
  • IC Markets is recommended for forex traders preferring easy account opening and free deposit and withdrawals

Important factors of finding Oanda alternatives

So far Brokerchooser has reviewed 43 online brokers in detail, which gives this comparison a solid starting point.

Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we

  • open a live account
  • check over 100 criteria, with weighting based on readers' preferences
  • refresh data regularly

Whether Oanda or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:

Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. The amounts Oanda charges you are considered average. When picking an alternative, you could prioritize brokers that are cheaper than Oanda.

Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you can make a deposit with a credit card at Oanda, this might not be the case at its alternatives.

Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.

Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given Oanda alternative is a must.


Now let's dive into the details of how Oanda and its alternatives perform in the most important areas!

Oanda alternatives
Oanda

4.2 4 stars

Best API

Oanda logo

Oanda is an American FX broker established in 1996. It is considered safe, as it is regulated by top-tier financial authorities, like the UK FCA and the Australian ASIC.

Oanda is a forex and CFD broker. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders that prefer a user-friendly platform and great research tools

Pros
  • Easy-to-use web trading platform
  • Easy and digital account opening
  • Powerful research tools
Cons
  • Only FX, and some CFDs
  • Poor customer service
  • Pricey withdrawal

Visit broker
77% of retail CFD accounts lose money

Fees 3 stars

Oanda offers low trading fees and high non-trading fees. The withdrawal fee can be really high.
Pros
  • Low trading fees
Cons
  • Withdrawal fee
  • High financing rate
  • Financing rate calculation is non-transparent
Oanda alternatives trading fees
Oanda Pepperstone FXCM Forex.com IC Markets
EURUSD benchmark fee $19.4 $19.3 $13.8 $14.6 $14.4
EURGBP benchmark fee $14.7 $11.6 $16.4 $15.7 $8.1

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

More Visit broker
77% of retail CFD accounts lose money

Account opening 4 stars

Oanda account opening is hassle-free and straightforward. There is no minimum balance required. On the other hand, the sales team is pushy.
Pros
  • Fast account opening
  • Fully digital account opening
  • No minimum account balance
Cons
  • Sales team pushy
  • It can take up to 3 business days
Oanda alternatives minimum deposit and account open times
Oanda Pepperstone FXCM Forex.com IC Markets
Minimum deposit $0 $0 $0 $50 $200
Time to open account 1-3 days 1-3 days 1-3 days >3 days 1 day

Learn more about Oanda minimum deposit here.

More Visit broker
77% of retail CFD accounts lose money

Deposit and withdrawal 4 stars

You can use many options for both deposit and withdrawal, and the first withdrawal is free for cards. However, the withdrawal can take long and the withdrawal fee can be high.
Pros
  • Several account base currencies
  • User-friendly
  • First withdrawal is free for credit/debit cards and electronic wallets
Cons
  • High withdrawal fee
  • Slow funding and withdrawal - over 3 days
Oanda and alternatives withdrawal options and fees
Oanda Pepperstone FXCM Forex.com IC Markets
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card No Yes Yes Yes Yes
Electronic wallets No Yes No No Yes
Withdrawal fee $35 $20 $0 $0 $0

More Visit broker
77% of retail CFD accounts lose money

Web trading platform 5 stars

The Oanda trading platform is great. It is very user-friendly with great customizability and good search functions. On the other hand, you cannot set price alerts.
Pros
  • User-friendly
  • Good search function
  • Good customizability (for charts, workspace)
Cons
  • No price alerts
Oanda - Web trading platform
Oanda and alternatives trading platform scores
Oanda Pepperstone FXCM Forex.com IC Markets
Web platform score 5 stars 4 stars 3 stars 4 stars 4 stars
Mobile platform score 4 stars 4 stars 2 stars 4 stars 4 stars
Desktop platform score 3 stars 4 stars 3 stars 3 stars 4 stars

Learn more about Oanda's web trading platform in the detailed Oanda review.

Visit broker
77% of retail CFD accounts lose money

More Visit broker
77% of retail CFD accounts lose money

Markets and products 1 stars

At Oanda, you can trade only forex and some CFDs.
Oanda and alternatives markets and products
Oanda Pepperstone FXCM Forex.com IC Markets
Stock No No No No No
ETF No No No No No
Forex Yes Yes Yes Yes Yes
Fund No No No No No
Bond No No No No No
Options No No No No No
Futures No No No No No
CFD Yes Yes Yes Yes Yes
Crypto No Yes Yes Yes Yes

More Visit broker
77% of retail CFD accounts lose money

Verdict

Oanda is a good FX broker.

It has a great web trading platform, you will feel comfortable in a very short time. It provides user-friendly and fully digital account opening. Its research tools are powerful, especially its API.

On the other hand, Oanda has a limited product portfolio, only FX and CFDs. The customer support is slow and usually provides irrelevant answers. The money withdrawal fee can be high.

Feel free to try Oanda. There is no minimum deposit, and the inactivity fee only kicks in after two years. 

 

Oanda
Summary Oanda is a US forex broker. It is regulated by top-tier regulators, like the UK FCA and the Australian ASIC.
Fees score 3 stars
Recommended for Forex traders that prefer a user-friendly platform and great research tools

More Visit broker
77% of retail CFD accounts lose money

Oanda alternatives
Pepperstone

4.4 4 stars

Best customer support

Pepperstone logo

Pepperstone is an Australian forex broker that also offers some CFDs. It was established in 2010 and opened a London office in 2015 to better serve European clients.

Pepperstone is considered safe, as it is regulated by top-tier financial authorities, like the UK FCA and the Australian ASIC.

Pepperstone is a forex and CFD broker. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders aiming for a good customer service

Pros
  • Great customer service
  • User-friendly and fast account opening
  • Easy-to-use and good-looking platforms
Cons
  • Limited product portfolio
  • Limited research
  • Limited education

Visit broker
74.6% of retail CFD accounts lose money

Fees 4 stars

Pepperstone has low trading fees and average non-trading fees. It has no inactivity fee. On the negative side, the withdrawal fee is high.
Pros
  • Low trading fees
  • No inactivity fee
  • Transparent fee structure
Cons
  • Withdrawal fee
Oanda vs. Pepperstone: Trading fees
Pepperstone Oanda
EURUSD benchmark fee $19.3 $19.4
EURGBP benchmark fee $11.6 $14.7

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

More Visit broker
74.6% of retail CFD accounts lose money

Account opening 4 stars

Pepperstone account opening is great. It is fully digital and user-friendly. On the negative side, it can take several days.
Pros
  • Fully digital account opening
  • User-friendly
  • Many account types
  • No minimum deposit for Standard Account
Cons
  • It can take 4-5 business days
Oanda vs. Pepperstone: Minimum deposit, time to open an account
Pepperstone Oanda
Minimum deposit $0 $0
Time to open account 1-3 days 1-3 days

If you are interested more in Pepperstone minimum deposit, this overview will help you.

More Visit broker
74.6% of retail CFD accounts lose money

Deposit and withdrawal 4 stars

Pepperstone offers a lot of deposit options, which are user-friendly. However, the withdrawal fees are high.
Pros
  • User-friendly
  • Free bank and electronic wallets deposit
  • Free credit and debit cards withdrawal
Cons
  • High withdrawal fee
Oanda vs. Pepperstone: Withdrawal options
Pepperstone Oanda
Bank Transfer Yes Yes
Credit/Debit card Yes No
Electronic wallets Yes No
Withdrawal fee $20 $35

More Visit broker
74.6% of retail CFD accounts lose money

Web trading platform 4 stars

Pepperstone offers only third-party trading platforms. We tested cTrader, which is a great platform: it is well-designed and user-friendly. On the negative side, it lacks the two-step login.
Pros
  • User-friendly
  • Good search function
  • Good customizability (for charts, workspace)
Cons
  • No two-step (safe) login
Web trading platform of Pepperstone, a Oanda alternative
Oanda vs. Pepperstone: Trading platform scores
Pepperstone Oanda
Web platform score 4 stars 5 stars
Mobile platform score 4 stars 4 stars
Desktop platform score 4 stars 3 stars

Learn more about Pepperstone's web trading platform in the detailed Pepperstone review.

Visit broker
74.6% of retail CFD accounts lose money

More Visit broker
74.6% of retail CFD accounts lose money

Markets and products 1 stars

At Pepperstone you can only trade with forex, some CFDs, and cryptos.
Oanda vs. Pepperstone: Markets and products
Pepperstone Oanda
Stock No No
ETF No No
Forex Yes Yes
Fund No No
Bond No No
Options No No
Futures No No
CFD Yes Yes
Crypto Yes No

More Visit broker
74.6% of retail CFD accounts lose money

Verdict

Pepperstone is a good FX and CFD broker. 

The customer service is great, you will get relevant answers within a short time. Account opening is a breeze, with no minimum deposits. The website is well-designed, clear and easy to navigate.

Pepperstone only offers FX and some CFDs. Its research and education tools could be improved, as there are not a lot of services and options.

Feel free to try Pepperstone. There is no inactivity fee or minimum deposit for standard accounts. 

Pepperstone
Summary Pepperstone is a forex and CFD broker regulated by both the FCA and the ASIC.
Fees score 4 stars
Recommended for Forex traders aiming for a good customer service

More Visit broker
74.6% of retail CFD accounts lose money

Oanda alternatives
FXCM

4.3 4 stars

Best technical tools

FXCM logo

FXCM, or Forex Capital Market, is a London-based forex broker that also offers some CFDs. FXCM was established in 1999 and has two main shareholders: Jefferies Financial Group and Global Brokerage. Both parent companies are listed on stock exchanges.

FXCM is considered safe, as it is regulated by top-tier financial authorities, like the UK FCA and the Australian ASIC.

FXCM is a forex and CFD broker. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders looking for easy account opening, funding, and withdrawal processes

Pros
  • Low trading fees and financing rates
  • Good technical research tools
  • Fast and straightforward account opening
Cons
  • Limited product portfolio
  • Poor mobile platform
  • Poor desktop trading platform

Visit broker
73.62% of retail CFD accounts lose money

Fees 4 stars

FXCM offers low trading fees and average non-trading fees.
Pros
  • Low trading fees
  • No withdrawal fee
  • Low financing rate
  • Transparent fee structure
Cons
  • Inactivity fee
Oanda vs. FXCM: Trading fees
FXCM Oanda
EURUSD benchmark fee $13.8 $19.4
EURGBP benchmark fee $16.4 $14.7

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

More Visit broker
73.62% of retail CFD accounts lose money

Account opening 4 stars

The account opening process at FXCM is hassle-free and straightforward. Furthermore, there is no minimum balance requirement.
Pros
  • Fully digital account opening
  • No minimum account balance
  • User-friendly
Cons
  • Account opening takes several days
Oanda vs. FXCM: Minimum deposit, time to open an account
FXCM Oanda
Minimum deposit $0 $0
Time to open account 1-3 days 1-3 days

If you are interested more in FXCM minimum deposit, this overview will help you.

More Visit broker
73.62% of retail CFD accounts lose money

Deposit and withdrawal 4 stars

There are several options both for deposit and withdrawal. Also, the deposit is free of charge. On the negative side, withdrawal can be slow.
Pros
  • Credit/Debit card deposit and withdrawal
  • No deposit fee
  • User-friendly
Cons
  • Slow funding and withdrawal - over 3 days
  • Withdrawal fee for bank transfer can be high
Oanda vs. FXCM: Withdrawal options
FXCM Oanda
Bank Transfer Yes Yes
Credit/Debit card Yes No
Electronic wallets No No
Withdrawal fee $0 $35

More Visit broker
73.62% of retail CFD accounts lose money

Web trading platform 3 stars

FXCM's trading platform is extremely customizable. It also offers a lot of order types. On the other hand, there is no two-step login and setting alerts is a pain.
Pros
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Available in several languages
Cons
  • No two-step (safe) login
  • Setting alerts is complicated
Web trading platform of FXCM, a Oanda alternative
Oanda vs. FXCM: Trading platform scores
FXCM Oanda
Web platform score 3 stars 5 stars
Mobile platform score 2 stars 4 stars
Desktop platform score 3 stars 3 stars

Learn more about FXCM's web trading platform in the detailed FXCM review.

Visit broker
73.62% of retail CFD accounts lose money

More Visit broker
73.62% of retail CFD accounts lose money

Markets and products 1 stars

At FXCM you will only have access to some forex, some CFDs, and Bitcoin trading.
Oanda vs. FXCM: Markets and products
FXCM Oanda
Stock No No
ETF No No
Forex Yes Yes
Fund No No
Bond No No
Options No No
Futures No No
CFD Yes Yes
Crypto Yes No

More Visit broker
73.62% of retail CFD accounts lose money

Verdict

FXCM has low trading fees and financing rates. Its technical research tools are high quality and well organized. It also offers fast and straightforward account opening.

However, FXCM only offers forex, some CFDs and cryptos. Their mobile and desktop trading platforms need an update, as they are outdated and not user-friendly.

Feel free to try FXCM. There is no minimum deposit, and the inactivity fee only kicks in after a year.

FXCM
Summary FXCM is a UK-based forex broker offering forex and CFD trading. FXCM is regulated by the UK FCA and the Australian ASIC.
Fees score 4 stars
Recommended for Forex traders looking for easy account opening, funding, and withdrawal processes

More Visit broker
73.62% of retail CFD accounts lose money

Oanda alternatives
Forex.com

4.3 4 stars

Forex.com logo

Forex.com was founded in 2001 and it is a global forex broker. It is regulated by top tier regulators, like the UK FCA or the US CFTC.

Forex.com is considered safe because it has a long track record, its parent company is listed on stock exchange, and is regulated by top-tier regulators.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders looking for great research tools and customer service

Pros
  • Low forex fees
  • Great variety of currency pairs
  • Superb technical research tools
Cons
  • Limited product portfolio
  • High stock CFD fees
  • Not user-friendly desktop trading platform

Visit broker
70% of retail CFD accounts lose money

Fees 3 stars

Forex.com has average trading and average non-trading fees. It has low forex but high stock CFD fees. Its financing rates are low.
Pros
  • No withdrawal fee
  • Low financing rate
Cons
  • Inactivity fee
Oanda vs. Forex.com: Trading fees
Forex.com Oanda
EURUSD benchmark fee $14.6 $19.4
EURGBP benchmark fee $15.7 $14.7

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

More Visit broker
70% of retail CFD accounts lose money

Account opening 4 stars

Forex.com account opening is fully digital and you can choose from more account types. But, the account opening can take more days.
Pros
  • Fully digital account opening
  • User-friendly
  • Many account types
Cons
  • Slow account opening
Oanda vs. Forex.com: Minimum deposit, time to open an account
Forex.com Oanda
Minimum deposit $50 $0
Time to open account >3 days 1-3 days

If you are interested more in Forex.com minimum deposit, this overview will help you.

More Visit broker
70% of retail CFD accounts lose money

Deposit and withdrawal 4 stars

Forex.com deposit and withdrawal are free and user-friendly. However, the withdrawal can take long.
Pros
  • Credit/Debit card deposit and withdrawal
  • Free withdrawal
  • No deposit fee
Cons
  • Lengthy withdrawal - over 3 days
Oanda vs. Forex.com: Withdrawal options
Forex.com Oanda
Bank Transfer Yes Yes
Credit/Debit card Yes No
Electronic wallets No No
Withdrawal fee $0 $35

More Visit broker
70% of retail CFD accounts lose money

Web trading platform 4 stars

Forex.com web trading platform is user-friendly and extremely customizable. It has also a lot of order types. On the flip side, there is no two-step login and we found a couple of bugs.
Pros
  • User-friendly
  • Good customizability (for charts, workspace)
  • Good variety of order types
Cons
  • No two-step (safe) login
  • Bugs
Web trading platform of Forex.com, a Oanda alternative
Oanda vs. Forex.com: Trading platform scores
Forex.com Oanda
Web platform score 4 stars 5 stars
Mobile platform score 4 stars 4 stars
Desktop platform score 3 stars 3 stars

Learn more about Forex.com's web trading platform in the detailed Forex.com review.

Visit broker
70% of retail CFD accounts lose money

More Visit broker
70% of retail CFD accounts lose money

Markets and products 1 stars

At Forex.com, you can trade only with forex, CFDs, and cryptos. Other asset classes, like real stocks or funds, are not available.
Oanda vs. Forex.com: Markets and products
Forex.com Oanda
Stock No No
ETF No No
Forex Yes Yes
Fund No No
Bond No No
Options No No
Futures No No
CFD Yes Yes
Crypto Yes No

More Visit broker
70% of retail CFD accounts lose money

Verdict

In our Forex.com review, we tested Forex.com thoroughly and here is the verdict.

On the bright side, it has low forex fees, many currency pairs, high-quality research tools, and great customer support.

It has some drawbacks though. The product portfolio is limited, the stock CFD fees are quite high, and the desktop platform is not easy-to-use.

As there is no withdrawal fee and inactivity fee only kicks in after one year, feel free to try it out.

Forex.com
Summary Forex.com is a global forex and CFD broker, regulated by the top-tier regulators, like FCA. Its parent company, GAIN Capital is listed on the New Yorsk Stock Exchange.
Fees score 3 stars
Recommended for Forex traders looking for great research tools and customer service

More Visit broker
70% of retail CFD accounts lose money

Oanda alternatives
IC Markets

4.5 5 stars

IC Markets logo

IC Markets is an Australian forex broker offering some CFDs too. It was founded in 2007.

IC Markets is considered safe because it is regulated by the top-tier Australian regulator, the Australian Securities and Investments Commission (ASIC).

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders preferring easy account opening and free deposit and withdrawals

Pros
  • Low fees
  • Easy and fast account opening
  • Free deposit and withdrawal
Cons
  • No investor protection
  • No negative balance protection
  • Only forex, CFD, and crypto trading is provided

Visit broker
74-89% of retail CFD accounts lose money

Fees 5 stars

IC Markets has low trading and non-trading fees.
Pros
  • Low trading fees
  • Low non-trading fees
  • No withdrawal fee
Cons
None
Oanda vs. IC Markets: Trading fees
IC Markets Oanda
EURUSD benchmark fee $14.4 $19.4
EURGBP benchmark fee $8.1 $14.7

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

More Visit broker
74-89% of retail CFD accounts lose money

Account opening 5 stars

The account opening at IC Markets is user-friendly and fully digital. It was also very fast, it took only 1 day until our account was approved.
Pros
  • Fast account opening
  • Fully digital account opening
  • User-friendly
Cons
None
Oanda vs. IC Markets: Minimum deposit, time to open an account
IC Markets Oanda
Minimum deposit $200 $0
Time to open account 1 day 1-3 days

If you are interested more in IC Markets minimum deposit, this overview will help you.

More Visit broker
74-89% of retail CFD accounts lose money

Deposit and withdrawal 5 stars

IC Markets does great at deposit and withdrawal. There are no fees for deposit and withdrawal. You can also use a lot of options for transferring money.
Pros
  • Credit/Debit card deposit and withdrawal
  • Free withdrawal
  • User-friendly
Cons
None
Oanda vs. IC Markets: Withdrawal options
IC Markets Oanda
Bank Transfer Yes Yes
Credit/Debit card Yes No
Electronic wallets Yes No
Withdrawal fee $0 $35

More Visit broker
74-89% of retail CFD accounts lose money

Web trading platform 4 stars

IC Markets offers only third-party trading platforms. We tested cTrader which is a great platform. It is well designed and user-friendly. On the flip side, it lacks the two-step login.
Pros
  • User-friendly
  • Good search function
  • Good customizability (for charts, workspace)
Cons
  • No two-step (safe) login
Web trading platform of IC Markets, a Oanda alternative
Oanda vs. IC Markets: Trading platform scores
IC Markets Oanda
Web platform score 4 stars 5 stars
Mobile platform score 4 stars 4 stars
Desktop platform score 4 stars 3 stars

Learn more about IC Markets's web trading platform in the detailed IC Markets review.

Visit broker
74-89% of retail CFD accounts lose money

More Visit broker
74-89% of retail CFD accounts lose money

Markets and products 1 stars

At IC Markets, you can trade only forex, some CFDs, and cryptos. It lacks real stock, fund, bonds, options, and futures asset classes.
Oanda vs. IC Markets: Markets and products
IC Markets Oanda
Stock No No
ETF No No
Forex Yes Yes
Fund No No
Bond No No
Options No No
Futures No No
CFD Yes Yes
Crypto Yes No

More Visit broker
74-89% of retail CFD accounts lose money

Verdict

IC Markets is a great forex and CFD broker. 

Its fees are very low and the account opening is fast and easy. The deposit and withdrawal are free and user-friendly.

On the other hand, IC Markets offers only forex, CFD and crypto trading. It does not provide any investor and negative balance protection.

Feel free to try IC markets as you will have an account within a day and there is no inactivity fee. 

IC Markets
Summary IC Markets is a global forex and CFD broker.
Fees score 5 stars
Recommended for Forex traders preferring easy account opening and free deposit and withdrawals

More Visit broker
74-89% of retail CFD accounts lose money

Oanda alternatives
Bottom line

Based on our analysis, there are several good alternatives to Oanda. They all offer similar products and target similar customers. Here's a recap of the results in a table.

Oanda alternatives
Broker Info Recommended for
Oanda American FX broker Forex traders that prefer a user-friendly platform and great research tools
Pepperstone Australian forex broker Forex traders aiming for a good customer service
FXCM UK-based forex broker Forex traders looking for easy account opening, funding, and withdrawal processes
Forex.com Global FX and CFD broker Forex traders looking for great research tools and customer service
IC Markets Australian forex broker Forex traders preferring easy account opening and free deposit and withdrawals

Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.

AUTHOR

Dan Sallai
Dan Sallai
CMO
My goal is to help people find our resourceful content when they need the most. I combine my 10+ years online marketing experience with the team's finance knowledge to reach that every day. On the side I'm paying bowling, tennis and enjoy spending great time with my children.
Follow Brokerchooser on Twitter

Share

Comments