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
4.4
4.6
overall pros
  • Low forex fees
  • Easy and fast account opening
  • Free deposit and withdrawal
  • Generally low fees
  • Easy-to-use web trading platform
  • Easy and digital account opening
overall cons
  • No investor protection
  • No negative balance protection
  • Only forex, CFD and crypto trading
  • Only FX and some CFDs
  • Poor customer service
  • High bank withdrawal fee
fees
4.3
  • Low trading fees
  • Low non-trading fees
  • Low forex fees
  • High financing rate for CFDs
4.5
  • Low trading fees
  • Low forex fees
  • No withdrawal fee
  • No withdrawal fee in most cases
  • High withdrawal fee for bank transfers
account opening
5.0
  • Fast
  • Fully digital
  • Low minimum deposit
4.4
  • Fully digital
  • No minimum deposit
  • Low minimum deposit
  • Issues with ID verification can slow account opening
deposit and withdrawal
4.9
  • Credit/Debit card available
  • Free withdrawal
  • No deposit fee
4.2
  • Credit/Debit card available
  • No deposit fee
  • Withdrawal is free for PayPal and for the first debit card transaction each month
  • High withdrawal fee for bank transfers
web trading platform
2.8
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Order confirmation
  • No two-step (safer) login
  • No price alerts
  • Poor design
4.5
  • User-friendly
  • Clear fee report
  • Two-step (safer) login
  • No price alerts
mobile trading platform
3.8
  • User-friendly
  • Good search function
  • Price alerts
  • No two-step (safer) login
  • No Touch/Face ID login
  • No order confirmation
5.0
  • User-friendly
  • Two-step (safer) login
  • Good search function
  • No Touch/Face ID login
desktop trading platform
3.3
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Price alerts
  • No two-step (safer) login
  • Poor design
3.8
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Good variety of order types
  • No price alerts
markets and products
1.7
  • Forex
  • CFD
  • Crypto
1.5
  • Forex
  • CFD
research
3.8
  • Trading ideas
  • Quality news flow
  • User-friendly
  • No fundamental data available
4.8
  • Good interactive chart
  • Quality news flow
  • User-friendly
  • Great API
  • Research tools are poorly organized
customer service
3.6
  • Phone support
  • Live chat
  • Fast response time
  • Slow and irrelevant live chat
3.4
  • Phone support
  • Live chat
  • No 24/7 support
  • Speed could be improved
education
4.5
  • Demo account
  • Trading platform tutorial
  • Educational videos
4.0
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • Materials are not well-organized
  • Majority of clients belong to a top-tier financial authority
  • In operation for a long time
  • No investor protection
  • No negative balance protection
  • Does not hold a banking license
  • Majority of clients belong to a top-tier financial authority
  • Negative balance protection
  • Financial information is publicly available
  • Does not hold a banking license
  • Not listed on stock exchange
recommended for Forex traders who value easy account opening and free deposit/withdrawal options Forex traders who value a user-friendly platform and great research tools
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