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
4.4
overall pros
  • Low forex fees
  • Easy and fast account opening
  • Free deposit and withdrawal
  • Great trading platforms
  • Outstanding research tools
  • Fast and user-friendly account opening
overall cons
  • Limited product selection
  • Slow live chat support
  • No investor protection for non-EU clients
  • High forex fees
  • Only FX and CFD available
  • No stock exchange listing and banking background
fees
4.1
  • Low trading fees
  • Low non-trading fees
  • Low forex fees
  • High financing rate for CFDs
2.9
  • First credit/debit card withdrawal per month is free
  • High forex fees
  • High financing rate
account opening
5.0
  • Fast
  • Fully digital
  • Low minimum deposit
4.4
  • Fully digital
  • No minimum deposit
deposit and withdrawal
4.9
  • Credit/Debit card available
  • No deposit fee
  • Several account base currencies
  • AUD 20 fee for international bank withdrawal
4.2
  • Credit/Debit card available
  • Free withdrawal
  • No deposit fee
  • High withdrawal fee for bank transfers and PayPal
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
5.0
  • User-friendly
  • Two-step (safer) login
  • Good search function
  • No Touch/Face ID login
desktop trading platform
3.4
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Price alerts
  • No two-step (safer) login
  • Poor design
4.5
  • User-friendly
  • Clear fee report
  • Good customizability (for charts, workspace)
  • No price alerts
markets and products
1.8
  • Forex
  • CFD
  • Crypto
1.6
  • Forex
  • CFD
research
3.8
  • Trading ideas
  • Quality news flow
  • User-friendly
  • No fundamental data available
5.0
  • Good interactive chart
  • Data on asset fundamentals
  • Quality news flow
  • Great API
  • No trading ideas
  • Research tools are poorly organized
customer service
3.6
  • Phone support
  • Live chat
  • Fast response time
  • Slow and not useful live chat
4.5
  • Phone support
  • Live chat
  • Fast response time
  • No 24/7 support
education
4.5
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • Videos are hard to find on the site
5.0
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • Materials are not well-organized
  • Long track record
  • Negative balance protection for EU customers
  • Not listed on stock exchange
  • Financial information is not publicly available
  • 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 and CFD traders who value easy account opening and free deposit/withdrawal options Forex traders who value a user-friendly platform and great research tools
×