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Compare Interactive Brokers vs Oanda


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

Interactive Brokers vs Oanda
overall rating
4.8 / 5.0
4.2 / 5.0
overall pros
  • Broad product portfolio
  • Low fees
  • Great and diverse research tools
  • Easy-to-use web trading platform
  • Easy and digital account opening
  • Powerful research tools
overall cons
  • Funding and withdrawal only through bank transfer
  • Complicated account opening process
  • Not user-friendly and complicated desktop trading platform
  • Only FX, and some CFDs
  • Poor customer service
  • Pricey withdrawal
fees
4 stars
  • Low trading fees
  • Transparent fee structure
  • Inactivity fee
3 stars
  • Low trading fees
  • Withdrawal fee
  • High financing rate
  • Financing rate calculation is non-transparent
account opening
3 stars
  • Fully digital account opening
  • No minimum deposit for most accounts
  • Slow account opening
  • Not user-friendly
  • Confusing messages throughout the process
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
2 stars
  • Several account base currencies
  • No charge for the first withdrawal each month
  • Credit/Debit card deposit and withdrawal not available
  • Slow funding and withdrawal - over 3 days
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
  • Clear fee report
  • Two-step (safe) login
  • Limited customizability (for charts, workspace)
5 stars
  • User-friendly
  • Good search function
  • Good customizability (for charts, workspace)
  • No price alerts
mobile trading platform
4 stars
  • Two-step (safe) login
  • Good search function
  • Innovative functions (i.e. Chatbot)
  • Not user-friendly
4 stars
  • Two-step (safe) login
  • Price alerts
  • Does not look nice
desktop trading platform
3 stars
  • Good variety of order types
  • Two-step (safe) login
  • Price alerts
  • Not user-friendly
  • Poor search function
3 stars
  • User-friendly
  • Good customizability (for charts, workspace)
  • Two-step (safe) login
  • Not user-friendly
  • Poor search function
markets and products
5 stars
  • Stock
  • ETF
  • Forex
  • Fund
  • Bond
  • Options
  • Futures
  • CFD
  • Crypto
1 stars
  • Forex
  • CFD
research
4 stars
  • Good quality news flow
  • Good set of analytical tools
  • Fundamental data available
  • Not user-friendly
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
  • Live chat
  • Fast response time
  • Relevant answers
  • Email ticketing looks like from the 90's
3 stars
  • Live chat
  • Available from Sunday to Friday
  • Slow support
  • Irrelevant answers
education
5 stars
  • Demo account
  • Educational videos
  • Good production quality
  • Courses only available to members
4 stars
  • Demo account
  • Trading platform tutorial videos
  • Educational videos
  • Videos can be better organized
  • Listed on stock exchange
  • Negative balance protection
  • Regulated by top-tier financial authorities
  • 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 Traders who prefer low fees and a professional trading environment Forex traders that prefer a user-friendly platform and great research tools