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
4.9
4.6
overall pros
  • Wide range of products
  • Many great research tools
  • Regulated by several authorities
  • Generally low fees
  • Easy-to-use web trading platform
  • Easy and digital account opening
overall cons
  • Extremely complex desktop trading platform
  • Complicated account opening process
  • High inactivity fee
  • Only FX and some CFDs
  • Poor customer service
  • High bank withdrawal fee
fees
4.3
  • Low trading fees
  • Low stock and ETF fees
  • Low financing rate
  • Free stock and ETF trading for US clients
  • Inactivity fee
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
3.4
  • Fully digital
  • No minimum deposit for most accounts types
  • Not user-friendly
  • Confusing messages throughout the process
4.4
  • Fully digital
  • No minimum deposit
  • Low minimum deposit
  • Issues with ID verification can slow account opening
deposit and withdrawal
2.5
  • No deposit fee
  • Several account base currencies
  • First withdrawal each month free
  • Credit/Debit card not available
  • Not user-friendly
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
4.3
  • User-friendly
  • Clear fee report
  • Two-step (safer) login
  • Limited customizability (for charts, workspace)
4.5
  • User-friendly
  • Clear fee report
  • Two-step (safer) login
  • No price alerts
mobile trading platform
3.5
  • Two-step (safer) login
  • Good search function
  • Good variety of order types
  • User interface is a bit complex
5.0
  • User-friendly
  • Two-step (safer) login
  • Good search function
  • No Touch/Face ID login
desktop trading platform
3.0
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Good variety of order types
  • Not user-friendly
  • Poor search function
  • Too complex for beginners
3.8
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Good variety of order types
  • No price alerts
markets and products
5.0
  • Stock
  • ETF
  • Forex
  • Fund
  • Bond
  • Options
  • Futures
  • CFD
  • Crypto
  • Warrants
  • Structured Products
  • Indices
  • Metals
1.5
  • Forex
  • CFD
research
3.5
  • Good interactive chart
  • Trading ideas
  • Data on asset fundamentals
  • Not user-friendly
4.8
  • Good interactive chart
  • Quality news flow
  • User-friendly
  • Great API
  • Research tools are poorly organized
customer service
4.4
  • Phone support
  • Live chat
  • Fast response time
  • No 24/7 support
3.4
  • Phone support
  • Live chat
  • No 24/7 support
  • Speed could be improved
education
4.5
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • Courses only available after registration
4.0
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • Materials are not well-organized
  • Listed on stock exchange
  • Negative balance protection
  • Regulated by top-tier financial authorities
  • 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 Traders looking for low fees and a professional trading environment Forex traders who value a user-friendly platform and great research tools
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