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Compare IC Markets vs Oanda


Online brokers compared for fees, trading platforms, safety and more. See how IC Markets stacks up against Oanda!

IC Markets vs Oanda
overall rating
4.5 / 5.0
4.2 / 5.0
overall pros
  • Low fees
  • Easy and fast account opening
  • Free deposit and withdrawal
  • Easy-to-use web trading platform
  • Easy and digital account opening
  • Powerful research tools
overall cons
  • No investor protection
  • No negative balance protection
  • Only forex, CFD, and crypto trading is provided
  • Only FX, and some CFDs
  • Poor customer service
  • Pricey withdrawal
fees
5 stars
  • Low trading fees
  • Low non-trading fees
  • No withdrawal fee
3 stars
  • Low trading fees
  • Withdrawal fee
  • High financing rate
  • Financing rate calculation is non-transparent
account opening
5 stars
  • Fast account opening
  • Fully digital account opening
  • User-friendly
4 stars
  • Fast account opening
  • Fully digital account opening
  • No minimum account balance
  • Sales team pushy
  • It can take up to 3 business days
deposit and withdrawal
5 stars
  • Credit/Debit card deposit and withdrawal
  • Free withdrawal
  • User-friendly
4 stars
  • Several account base currencies
  • User-friendly
  • First withdrawal is free for credit/debit cards and electronic wallets
  • High withdrawal fee
  • Slow funding and withdrawal - over 3 days
web trading platform
4 stars
  • User-friendly
  • Good search function
  • Good customizability (for charts, workspace)
  • No two-step (safe) login
5 stars
  • User-friendly
  • Good search function
  • Good customizability (for charts, workspace)
  • No price alerts
mobile trading platform
4 stars
  • User-friendly
  • Good search function
  • Looks nice
  • No two-step (safe) login
4 stars
  • Two-step (safe) login
  • Price alerts
  • Does not look nice
desktop trading platform
4 stars
  • User-friendly
  • Good customizability (for charts, workspace)
  • Good search function
  • No two-step (safe) login
3 stars
  • User-friendly
  • Good customizability (for charts, workspace)
  • Two-step (safe) login
  • Not user-friendly
  • Poor search function
markets and products
1 stars
  • Forex
  • CFD
  • Crypto
1 stars
  • Forex
  • CFD
research
4 stars
  • Good interactive chart
  • Good quality news flow
  • Analyst recommendations
  • No fundamental data available
4 stars
  • Good interactive chart
  • Good set of analytical tools
  • Great API offer
  • No analyst recommendations for stocks, bonds, etc.
  • No fundamental data available
  • Research tool are not at one place
customer service
4 stars
  • Relevant answers
  • Fast email and telephone support
  • 24/7 availability
  • Slow and irrelevant live chat
3 stars
  • Live chat
  • Available from Sunday to Friday
  • Slow support
  • Irrelevant answers
education
5 stars
  • Demo account
  • Trading platform tutorial videos
  • Good production quality
4 stars
  • Demo account
  • Trading platform tutorial videos
  • Educational videos
  • Videos can be better organized
  • Regulated by top tier financial authority
  • In operation for a long time
  • No investor protection
  • No negative balance protection
  • Does not hold a banking license
  • Regulated by top tier financial authority
  • High level of investor protection
  • Negative balance protection
  • Not listed on stock exchange
  • Financial information is not publicly available
recommended for Forex traders preferring easy account opening and free deposit and withdrawals Forex traders that prefer a user-friendly platform and great research tools