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
4.4
overall pros
  • Low trading fees
  • Wide range of products
  • Many great research tools
  • Low trading fees
  • Great trading platforms
  • Outstanding research tools
overall cons
  • Complicated account opening process
  • Complex desktop trading platform
  • High inactivity fee
  • Only FX and CFD available
  • No stock exchange listing and banking background
  • Withdrawal fee can be high
fees
4.0
  • Low trading fees
  • Free stock and ETF trading for US clients
  • Low margin rates
  • Inactivity fee
2.9
  • Low trading fees
  • Low forex fees
  • First credit/debit card withdrawal per month is free
  • High withdrawal fee for bank transfers
account opening
3.4
  • Fully digital
  • No minimum deposit for most account types
  • Not user-friendly
  • Confusing messages throughout the process
4.4
  • Fully digital
  • No minimum deposit
deposit and withdrawal
3.5
  • No deposit fee
  • Several account base currencies
  • First withdrawal each month free
  • Credit/Debit card not available
4.2
  • Credit/Debit card available
  • Free withdrawal
  • No deposit fee
  • High withdrawal fee for bank transfers and PayPal
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
4.5
  • User-friendly
  • Clear fee report
  • Good customizability (for charts, workspace)
  • No price alerts
markets and products
5.0
  • Stock
  • ETF
  • Forex
  • Fund
  • Bond
  • Options
  • Futures
  • CFD
  • Crypto
  • Warrants
  • Structured Products
1.6
  • Forex
  • CFD
research
3.5
  • Good interactive chart
  • Trading ideas
  • Data on asset fundamentals
  • Not user-friendly
5.0
  • Good interactive chart
  • Data on asset fundamentals
  • Quality news flow
  • Great API
  • No trading ideas
  • Research tools are poorly organized
customer service
4.4
  • Phone support
  • Live chat
  • Fast response time
  • No 24/7 support
4.5
  • Phone support
  • Live chat
  • Fast response time
  • No 24/7 support
education
4.5
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • Courses only available after registration
5.0
  • 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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