Interactive Brokers vs OANDA Comparison
Compare trading conditions, commissions and platforms of Forex brokers Interactive Brokers and OANDA. Find out which broker is best for you.
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 - Interactive Brokers or OANDA?
Key differences between the brokers
Below, we show only the differences in trading conditions covered in our reviews. These may include the minimum deposit, available markets, platforms and account types. Compare these details with your requirements.
Interactive Brokers
- Different platforms
- IBKR Mobile
- Trader WorkStation (TWS)
- IMPACT
- IBKR Desktop
- Client Portal
- GlobalTrader
- Different markets
- None listed
OANDA
- Different platforms
- MetaTrader 5
- MetaTrader 4
- TradingView
- fxTrade
- Different markets
- Soft Commodities
- Cryptocurrency
Comparison Table of Interactive Brokers and OANDA
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| Broker | Interactive Brokers | OANDA |
|---|---|---|
| Foundation Year | 1977 | 2001 |
| Regulated in Countries | United Kingdom, United States, Canada, Ireland, Australia, Hong Kong, India, Japan, Singapore, Switzerland | United States, Australia, Canada, United Kingdom, Japan, British Virgin Islands, Singapore, Poland |
| Minimum Deposit |
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| Spread | from 0.1 points | from 0.5 points |
| Max Leverage | 1:50 | 1:200 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Review |
Interactive Brokers Review
Interactive Brokers is one of the largest international brokers, offering extensive opportunities for trading and investing in global financial markets. The company combines high reliability, competitive trading conditions and advanced technological infrastructure. Thanks to its many years of experience, international regulation and continuous service development, Interactive Brokers holds a leading position among brokers for self-directed investing.
Interactive Brokers is primarily suited to experienced traders, active investors and professional market participants who value a wide range of instruments, low fees and advanced trading capabilities. The broker is also an excellent choice for long-term investors building diversified portfolios. For beginners, Interactive Brokers is suitable if they are willing to learn a fairly complex trading infrastructure.
Pros and Cons of Interactive Brokers
Pros
- High reliability and regulation by leading financial authorities.
- A wide range of financial instruments and access to more than 175 markets.
- Low trading commissions and favourable margin lending rates.
- Powerful trading platforms and professional analytical tools.
- A wide range of account types and high-quality educational materials.
Cons
- Complex interface and a steep learning curve for beginners.
- Inconsistent quality of technical support.
- Limited choice of deposit and withdrawal methods.
Interactive Brokers 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
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| Broker | Interactive Brokers | OANDA |
|---|---|---|
| Reliability | 5/5 | 5/5 |
| Foundation Year | 1977 | 2001 |
| Regulated in Countries | United Kingdom, United States, Canada, Ireland, Australia, Hong Kong, India, Japan, Singapore, Switzerland | United States, Australia, Canada, United Kingdom, Japan, British Virgin Islands, Singapore, Poland |
| Regulators |
Interactive Brokers
Interactive Brokers is highly reliable thanks to strict international regulation, substantial capital and mechanisms protecting client assets.
Pros
- Regulation by SEC, FCA, ASIC and other reputable authorities.
- Strong financial stability and substantial capital.
- Segregation of assets and insurance protection for client accounts.
Cons
- Regulatory fines in 2020 and 2025.
OANDA
Oanda demonstrates a high level of reliability, evidenced by licenses from the world's leading regulators.
Account Opening
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| Broker | Interactive Brokers | OANDA |
|---|---|---|
| Account Opening | 4/5 | 4.5/5 |
| Minimum Deposit |
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Interactive Brokers
Interactive Brokers offers convenient online account opening with no minimum deposit. However, the detailed application form and strict verification make registration more complex and time-consuming than with many brokers.
Pros
- Fully online registration.
- No minimum deposit.
- Wide choice of account types and base currencies.
Cons
- A lengthy and detailed application form.
- Strict verification requirements.
- Possible delays in document verification.
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
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| Broker | Interactive Brokers | OANDA |
|---|---|---|
| Account Types | 4.5/5 | 3/5 |
| Trading Accounts |
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| Minimum Deposit |
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| Spread | from 0.1 points | from 0.5 points |
| Max Leverage | 1:50 | 1:200 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Demo Account | Yes | Yes |
| Swap-free Account | No | Yes |
Interactive Brokers
Interactive Brokers offers a wide range of accounts for investors and traders of all experience levels. Flexible terms, various margin trading modes and specialised accounts can meet virtually any investment need.
Pros
- A wide range of accounts for individual and institutional clients.
- Flexible margin trading options.
- A demo account and no minimum deposit.
Cons
- A complex account type system for beginners.
- High capital requirements for Portfolio Margin.
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
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| Broker | Interactive Brokers | OANDA |
|---|---|---|
| Commissions | 5/5 | 3.5/5 |
| Spread | from 0.1 points | from 0.5 points |
| Average Spread (EURUSD) | — | 0.8 |
| Commission | per 1 lot$2.00 | No data |
Interactive Brokers
Interactive Brokers offers some of the lowest commissions on the market. Competitive trading rates, favourable margin lending terms and minimal non-trading costs make the broker attractive to traders and investors.
Pros
- Low commissions on stocks, ETFs, Forex and derivatives.
- Favourable margin lending rates.
- No inactivity fee and two free withdrawals per month.
Cons
- Paid subscriptions for some market data.
- A complex fee structure and additional exchange fees.
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
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| Broker | Interactive Brokers | OANDA |
|---|---|---|
| Rating | 4/5 | 4/5 |
| Account Funding Methods |
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Interactive Brokers
Interactive Brokers offers reliable deposit and withdrawal methods with low fees. Support for bank transfers, Wise and stablecoins makes payments convenient, although the availability of these methods depends on the region.
Pros
- No deposit fees.
- Two free withdrawals per month.
- Support for Wise and stablecoins.
Cons
- No direct deposits by bank card or popular e-wallets.
- International bank transfers may take several days.
- The availability of payment methods depends on the country.
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
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| Broker | Interactive Brokers | OANDA |
|---|---|---|
| Markets and Products | 5/5 | 4.4/5 |
| Forex | 85 | 48 |
| Precious Metals | 2 | 3 |
| Energy Carriers | 2 | 3 |
| Indices | 13 | 18 |
| Stocks | 8500 | 1607 |
| Soft Commodities | - | 4 |
| Cryptocurrency | - | 18 |
Interactive Brokers
Interactive Brokers offers an exceptionally wide range of financial instruments with access to more than 175 markets. The variety of assets makes the broker a versatile solution for active trading and long-term investing.
Pros
- Access to more than 175 markets across 40 countries.
- A vast selection of stocks, ETFs, bonds and derivatives.
- Support for Forex, CFDs and cryptocurrencies.
Cons
- The availability of some instruments depends on the country.
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
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| Broker | Interactive Brokers | OANDA |
|---|---|---|
| Rating | 5/5 | 5/5 |
| Trading Platforms |
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Interactive Brokers
Interactive Brokers offers a wide range of trading platforms with powerful analytical tools, varied order types and automation capabilities. The broker's solutions are suitable for both beginner investors and professional traders.
Pros
- A wide range of desktop, web and mobile platforms.
- Advanced analysis and risk management tools.
- Support for TradingView and algorithmic trading via API.
Cons
- Difficulty learning to use the professional platform TWS.
- Paid subscriptions for some market data.
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
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| Broker | Interactive Brokers | OANDA |
|---|---|---|
| Rating | 5/5 | 5/5 |
Interactive Brokers
Interactive Brokers offers powerful analytical resources with professional research, fundamental and technical analysis, market screeners and portfolio assessment tools. The analytics are suitable for both investors and active traders.
Pros
- A wide range of free analytical tools.
- Professional research and market news.
- Advanced risk and portfolio analysis tools.
Cons
- Paid subscriptions for selected research and market data.
- Some tools are complex for beginners.
OANDA
The Oanda broker's analytical section offers many tools that help traders make informed decisions.
Education
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| Broker | Interactive Brokers | OANDA |
|---|---|---|
| Rating | 5/5 | 4.5/5 |
Interactive Brokers
Interactive Brokers offers high-quality, diverse education for traders of all levels. Free courses, webinars, video tutorials and practical sessions cover a broad range of topics, from investment basics to complex trading strategies.
Pros
- A wide range of free courses, webinars and podcasts.
- Education for beginners and professionals.
- Practical training using a demo account.
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
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| Broker | Interactive Brokers | OANDA |
|---|---|---|
| Rating | 3/5 | 5/5 |
| Email Support | ||
| Hotline Phones | ||
| Social Media |
Interactive Brokers
Interactive Brokers offers several contact channels and qualified assistance with trading matters. However, response times and the effectiveness of problem resolution are inconsistent, as reflected in mixed customer reviews.
Pros
- Support by phone, live chat and tickets.
- Nearly 24-hour service on business days.
- Staff expertise in trading matters.
Cons
- Long wait times for responses from support agents.
- Slow resolution of complex issues.
- The need for repeated follow-ups.
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 Interactive Brokers and OANDA with other brokers
Conclusion
When choosing between OANDA and Interactive Brokers, match their platforms, markets, account types and funding terms to your needs.
Before opening an account, verify fees, regulation, support and service availability for your country in the sections above.
FAQ
Which broker is better: Interactive Brokers or OANDA?
OANDA ranks higher than Interactive Brokers in our editorial ranking. That does not make it a universal choice: compare fees, markets, platforms, account types and support.
Which broker is better for beginners: Interactive Brokers or OANDA?
Beginners should compare availability in their country, account types, minimum deposit, trading platforms and customer support.
Who has lower typical trading costs (spreads/commissions) — Interactive Brokers 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 Interactive Brokers and OANDA?
Interactive Brokers: IBKR Mobile, Trader WorkStation (TWS), IMPACT, IBKR Desktop, Client Portal, GlobalTrader. OANDA: MetaTrader 5, MetaTrader 4, TradingView, fxTrade. See the “Platforms” section for details and selection tips.
What markets can you trade with Interactive Brokers and OANDA?
Interactive Brokers: Forex, Precious Metals, Energy Carriers, Indices, Stocks. 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 Interactive Brokers and OANDA?
Interactive Brokers: Cash, Margin (Reg T), Portfolio Margin. OANDA: Standard, Swap Free. See “Account Types” for a side-by-side comparison.
What deposit and withdrawal methods are supported by Interactive Brokers and OANDA?
Interactive Brokers: Bpay, Swift, Automated Clearing House (ACH), SEPA, Online banking. OANDA: Skrill, Neteller, Swift, Visa, Mastercard. Check method-specific fees/settlement times.
Which broker is safer — Interactive Brokers or OANDA — and how was this assessed?
We consider regulation, corporate transparency, fund protection, and incident history. See the “Reliability” section for our findings.
