IG vs OANDA Comparison: Which Is Better for Traders?
We test brokers on real accounts using our own methodology, evaluating the quality of order execution, trading conditions, platforms and customer support.
Who is better - IG or OANDA?
Our pick: OANDA
Based on multiple factors - spreads and fees, available assets and instruments, execution quality, platform usability, support level, and educational resources - OANDA looks preferable to IG.
OANDA scored 4.3/5 and ranks 29 in our all Forex brokers list, whereas IG has 4.1/5 and ranks 38.
This is not financial advice. See the full comparison below.
Who is IG suitable for?
Broker IG.com is suitable for traders of all levels, offering reliability, convenience, a wide selection of instruments, and good customer support.
Who is OANDA suitable for?
Oanda is suitable for beginners and experienced traders, thanks to quality analytics and various educational materials.
Comparison Table of IG and OANDA
| Broker | IG | OANDA |
|---|---|---|
| Rating | 4.1/5 | 4.3/5 |
| Foundation Year | 1973 | 2001 |
| Regulated in Countries | United Kingdom, Bermuda, Germany, Netherlands, Italy, Spain, France, Sweden, Switzerland, United States, Australia, Japan, Singapore, South Africa, United Arab Emirates | United States, Australia, Canada, United Kingdom, Japan, British Virgin Islands, Singapore, Poland |
| Minimum Deposit |
|
|
| Spread | from 0.165 points | from 0.5 points |
| Max Leverage | 1:200 | 1:200 |
| Trading Assets (CFDs) |
|
|
| Trading Platforms |
|
|
| Review | IG Review | OANDA Review |
IG Review
IG is a highly regulated broker with licenses from reliable financial authorities, providing clients with high funds protection. Thanks to narrow spreads, traders can effectively manage their costs and increase the profitability of their operations. Quality trading platforms and advanced analytical tools support informed trading decisions, while extensive educational resources make IG attractive to traders of all experience levels.
Pros and Cons of IG
Pros
- Licenses from regulators with a high level of credibility.
- Tight spreads.
- A variety of markets and products.
- Extensive set of analytical tools and content.
- Quality educational resources for different levels of traders.
Cons
- Limited choice of trading accounts.
- High trading fee on DMA account.
- Inactivity fee.
- Limited choice of payment methods.
IG is in the top 10 of the following ratings:
OANDA Review
Oanda is an excellent choice for traders seeking a reliable and regulated broker with competitive spreads and various trading assets.
With quality analytics and diverse educational materials, Oanda suits beginners and experienced traders.
Pros and Cons of OANDA
Pros
- Tight spreads.
- Diverse markets and products.
- Advanced trading platforms.
- Quality analytics.
- Extensive learning section.
Cons
- Limited trading account types.
- Inactivity fee.
- High swaps.
OANDA is in the top 10 of the following ratings:
Reliability
| Broker | IG | OANDA |
|---|---|---|
| Reliability | 5/5 | 5/5 |
| Foundation Year | 1973 | 2001 |
| Regulated in Countries | United Kingdom, Bermuda, Germany, Netherlands, Italy, Spain, France, Sweden, Switzerland, United States, Australia, Japan, Singapore, South Africa, United Arab Emirates | United States, Australia, Canada, United Kingdom, Japan, British Virgin Islands, Singapore, Poland |
| Regulators |
IG
The company is subject to numerous international regulators, ensuring a high degree of transparency.
OANDA
Oanda demonstrates a high level of reliability, evidenced by licenses from the world's leading regulators.
Account Opening
| Broker | IG | OANDA |
|---|---|---|
| Account Opening | 4/5 | 4.5/5 |
| Minimum Deposit |
|
|
IG
The account opening process is simple, fast, and convenient for traders of any experience level.
Pros
- No minimum deposit required.
- Quick registration process (5-10 minutes).
Cons
- Necessity to provide extensive personal and financial information.
- Verification may take a couple of days.
- There is a possibility of being denied account opening.
OANDA
Oanda offers a straightforward and structured registration process, ensuring convenience for clients.
Pros
- Clearly structured registration process.
- No minimum deposit, offering flexibility for traders.
Cons
- Additional documents may be required in some cases.
- Document verification can take from 1 to 2 working days.
Account Types
| Broker | IG | OANDA |
|---|---|---|
| Account Types | 2.5/5 | 3/5 |
| Trading Accounts |
|
|
| Minimum Deposit |
|
|
| Spread | from 0.165 points | from 0.5 points |
| Max Leverage | 1:200 | 1:200 |
| Trading Assets (CFDs) |
|
|
| Trading Platforms |
|
|
| Demo Account | ||
| Swap-free Account |
IG
IG offers a limited selection of accounts, meeting the basic needs of traders, but not accommodating specific requirements.
Pros
- Availability of DMA account for professional traders.
- Premium service offered for high-value clients.
- Free demo account for practice and training.
Cons
- Absence of Islamic and investment accounts.
- No fixed spread accounts and cent accounts.
OANDA
Oanda provides various trading accounts, but some specialized types are missing.
Pros
- Standard accounts are available.
- Demo accounts are offered.
- Swap Free accounts are available for traders following Islamic principles.
Cons
- Cent accounts are missing.
- No fixed spread accounts.
- No investment accounts are available.
Commissions
| Broker | IG | OANDA |
|---|---|---|
| Commissions | 3/5 | 3.5/5 |
| Spread | from 0.165 points | from 0.5 points |
| Average Spread (EURUSD) | 1.1 | 0.8 |
| Commission per Lot | $6.48 |
IG
IG provides an average level of commissions, with low spreads but high transaction fees on DMA accounts.
Pros
- Low spreads.
- No fees for deposits/withdrawals.
Cons
- High transaction fee on DMA account.
- Inactivity fee.
- Currency conversion fee and guaranteed stop fee.
OANDA
Oanda's fees are moderate, making this broker competitive.
Pros
- No fees for deposits and withdrawals.
- Low spreads on major currency pairs.
Cons
- Inactivity fee is charged.
- Swaps may be high for some currency pairs.
Deposit and Withdrawal
| Broker | IG | OANDA |
|---|---|---|
| Rating | 3.7/5 | 4/5 |
| Account Funding Methods |
|
|
IG
Broker IG offers an average level of services for deposits/withdrawals, not charging a fee, but has limitations on available methods.
Pros
- No commission for funding and withdrawal.
- PayPal available as a deposit/withdrawal option.
- Transparent information about limits.
Cons
- Absence of cryptocurrencies and most electronic wallets.
- Withdrawal processing time can take up to 5 business days.
- Restrictions on the minimum withdrawal amount.
OANDA
Oanda offers flexible conditions for depositing and withdrawing funds, but payment system commissions and currency conversion costs may apply.
Pros
- The broker does not charge a fee for deposits and withdrawals.
- A wide selection of payment systems is available.
- No restrictions on the amounts of deposits and withdrawals.
Cons
- High commission fees for certain methods by payment systems.
- Withdrawal request processing time may be long.
- Cryptocurrencies are not available as a payment method.
Markets and Products
| Broker | IG | OANDA |
|---|---|---|
| Markets and Products | 5/5 | 4.4/5 |
| Forex | 99 | 48 |
| Precious Metals | 11 | 3 |
| Energy Carriers | 9 | 3 |
| Soft Commodities | 20 | 4 |
| Indices | 46 | 18 |
| Stocks | 13000 | 1607 |
| ETF | 5400 | - |
| Bonds | 19 | - |
| Cryptocurrency | 15 | 18 |
IG
IG offers an extensive range of products and markets for trading, with an impressive selection of CFDs, options, and thematic baskets.
OANDA
Oanda offers an extensive set of markets and products, making it a versatile choice for traders of different levels.
Pros
- A wide range of currency pairs.
- A large selection of stocks and indices.
- Access to cryptocurrency trading.
Cons
- Maximum leverage is only up to 1:200.
Trading Platforms
| Broker | IG | OANDA |
|---|---|---|
| Rating | 5/5 | 5/5 |
| Trading Platforms |
|
|
IG
IG offers a variety of trading platforms, including MetaTrader 4, IG Trading Platform, and L2 Dealer, catering to traders of all levels.
OANDA
Oanda provides high-quality trading platforms with deep functionality and integration with TradingView.
Pros
- Access to classic platforms MT4 and MT5.
- The fxTrade mobile app with integration with MT5.
- Integration with TradingView.
Cons
- No MetaTrader alternatives for desktop devices.
Analytics
| Broker | IG | OANDA |
|---|---|---|
| Rating | 5/5 | 5/5 |
IG
IG provides an impressive array of research and analytical tools that will appeal to traders of any experience level.
OANDA
The Oanda broker's analytical section offers many tools that help traders make informed decisions.
Education
| Broker | IG | OANDA |
|---|---|---|
| Rating | 5/5 | 4.5/5 |
IG
IG offers high-quality and comprehensive educational materials suitable for traders of various levels.
OANDA
Oanda provides an extensive range of educational resources, catering to new and experienced traders, focusing on leveraged trading.
Pros
- Comprehensive coverage of fundamental and technical analysis.
- Variety of resources including webinars, workshops, and live market analysis.
- Free access to premium content for live account holders.
Cons
- Some advanced topics may not be covered in depth.
Customer Support
| Broker | IG | OANDA |
|---|---|---|
| Rating | 5/5 | 5/5 |
| Email Support |
|
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| Hotline Phones |
|
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| Social Media |
Twitter
Facebook
LinkedIn
YouTube
InstagramIG
IG provides fast and professional support.
OANDA
Oanda's technical support provides extensive communication options and round-the-clock service, ensuring the professionalism and efficiency of the solutions provided.
Comparisons of IG and OANDA with other brokers
Conclusion
OANDA stands out as the better overall pick, while IG trails on aggregate criteria.
OANDA scored 4.3/5 and ranks 29 in our rating; IG has 4.1/5 and ranks 38.
We explain the reasons above in detail — fees, platforms, reliability, support, and more.
FAQ
Which broker is better: IG or OANDA?
OANDA comes out ahead by overall rank (score 4.3/5, position 29) versus IG (score 4.1/5, position 38).
Which broker is better for beginners: IG or OANDA?
OANDA is often a smoother start thanks to simpler onboarding and stronger baseline metrics. Still, your tools and budget should drive the final choice.
Who has lower typical trading costs (spreads/commissions) — IG or OANDA?
It depends on the instrument and account type. Compare the live conditions in the “Commissions” section on this page — we break down the nuances category by category.
What trading platforms are available with IG and OANDA?
IG: MetaTrader 4, IG Trading Platform, L2 Dealer. OANDA: MetaTrader 5, MetaTrader 4, TradingView, fxTrade. See the “Platforms” section for details and selection tips.
What markets can you trade with IG and OANDA?
IG: Forex, Precious Metals, Energy Carriers, Soft Commodities, Indices, Stocks, ETF, Bonds, Cryptocurrency. OANDA: Forex, Precious Metals, Energy Carriers, Soft Commodities, Indices, Stocks, Cryptocurrency. Full lists and differences are in the “Markets” section.
What account types are offered by IG and OANDA?
IG: CFD, DMA. OANDA: Standard, Swap Free. See “Account Types” for a side-by-side comparison.
What deposit and withdrawal methods are supported by IG and OANDA?
IG: PayPal, Bank Transfer, Credit and Debit Cards. OANDA: Skrill, Neteller, Swift, Visa, Mastercard. Check method-specific fees/settlement times.
Which broker is safer — IG or OANDA — and how was this assessed?
We consider regulation, corporate transparency, fund protection, and incident history. See the “Reliability” section for our findings.
