General Breakdown. This graph highlights the key scores from each Macro, uniquely calculated by us.
- IG Markets
Tier 1 Regulation
Tier 2 Regulation
Tier 3 Regulation
Deposit and Withdrawal
Costs and Fees
Forex Fixed Spreads
Forex Variable Spreads
Fees on Stocks
Fees on Indices
Fees on Cryptocurrencies
Special Trading Conditions
Available Trading Techniques
About IG Markets and Oanda
IG Markets is one of the most experienced Forex brokers in the industry. The company has over 45 years of experience, winning multiple prestigious awards along the way. Add to that an extensive selection of trading instruments, and you get one of the best places for online trading.
Although Oanda hasn’t been present on the market for as long as IG Markets, this 1995-founded broker holds a reputation as one of the most renowned Forex trading platforms worldwide. Oanda holds its ground more than well, offering a wide range of markets and trading tools, even when compared to such brands as IG Markets.
IG Markets vs. Oanda: Which Broker Offers Better Pricing?
The first item on the agenda is pricing. Which platform comes out on top, offering a better pricing structure for Forex traders? Going by seniority, let’s start with IG Markets.
The first thing to know about IG Markets is that they offer only floating spreads. These typically start from 0.6 pips, depending on the currency pair. As for commissions, these can get as low as $3 per stock you trade.
The good news is that there are no deposit and withdrawal fees (with several exceptions). However, an inactivity fee of $18/month is charged after 24 months of inactivity on an account.
Regarding Oanda’s fees, these look a bit more beneficial than IG’s. For instance, Oanda offers even 0-pip spreads for Australian accounts. Non-Australian users can enjoy spreads as low as 0.6 pips.
Oanda also doesn’t charge deposit or withdrawal fees. The inactivity fee is also lower, with Oanda charging $10/month after 12 months of no activity on an account.
Given all that info, Oanda does seem like a more cost-efficient option than IG Markets, offering lower pricing.
Oanda vs. IG Markets: Which Market Selection Is Better?
IG Markets and Oanda are two excellent platforms for Forex and CFDs trading. But which one offers a more extensive selection of trading instruments? With Oanda winning the first round, let’s give the stage to it first.
So, what can you trade at Oanda?
- Forex Market: Oanda offers over 70 currency pairs;
- Commodities: Traders have 31 commodities available for CFD trading, including 24 metals, 3 energies, and 4 agricultural assets;
- Indices: Oanda offers traders 16 popular indices from all over the world;
- Bonds: Oanda users can trade four US bonds and 1 UK bond;
- Crypto Trading: Oanda only offers two cryptocurrencies for trading – Bitcoin and Bitcoin Mini.
IG Markets, on the other hand, offers the following trading instruments:
- Forex Market: There are over 80 currency pairs available for Forex trading;
- Commodities: IG offers 14 trading commodities, including 4 energies, 5 metals, and 5 agricultural assets;
- Indices: IG Markets offers over 80 worldwide indices;
- Stocks: IG offers a massive selection of stocks, with over 12,000 stocks available for trading;
- Bonds: IG users can trade two types of bonds – German Bond and US Dollar Basket;
- Cryptocurrencies: IG Markets offers a total of eight cryptocurrencies crypto traders can take advantage of;
- Other Assets: IG Markets also offers its traders interest rates, options, sectors, and EFTs.
While Oanda offers quite an extensive selection of trading assets, it doesn’t stand a chance when compared with IG Markets. With up to 17 thousand available markets, IG is a clear winner.
Winner: IG Markets
IG vs. Oanda: Which Platform Is More Regulated for Forex Traders?
Both IG Markets and Oanda are two incredibly experienced and reputable trading platforms. If you want to stay safe when online trading, these two brokers might be the safest places for Forex traders. But how do they compare?
In terms of licenses, IG Markets is acknowledged by some of the most reputable governing bodies of the financial sector. The broker is licensed by seven tier-1 regulators:
- The Japanese Financial Services Authority (JFSA)
- The Australian Securities & Investment Commission (ASIC)
- The Financial Markets Authority (FMA)
- The Commodity Futures Trading Commission (CFTC)
- The Monetary Authority of Singapore (MAS)
- The Swiss Financial Market Supervisory Authority (FINMA)
Oanda holds six tier-1 licenses. It’s also regulated by the JFSA, ASIC, FMA, MAS, CFTC, and FCA, additionally boasting licenses from the Investment Industry Regulatory Organization of Canada (IIROC).
The two brokers also use the latest security and encryption measurements as well as transparent trading policies. In other words, they both excel when it comes to the safety of their traders.
Which Forex Broker Is Better? IG Markets or Oanda?
Based on our comparison review, it’s clear that both IG and Oanda are brokers on top of their game. They are both incredibly reputable, safe, cost-efficient, and user-friendly. More importantly, they both offer extensive trading market selections followed by a nice collection of research tools and educational materials.
In other words, they will both exceed your trading expectations. And if you wish to learn more about whether you should pick IG or Oanda, be sure to read both of our comprehensive reviews of IG Markets and Oanda. That is where we’ve covered all the essential features and information about the two brokers.