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Interactive Brokers vs Oanda: Comparison and Analysis

Trying to figure out whether to use Interactive Brokers or Oanda? This comparison article lays out the features of both brokers in detail, so you can see which is the best platform according to your needs.

We’ve compared more than 100 variables and features so you can see the pros and cons of Interactive Brokers and Oanda side by side. We’ve divided the comparisons into a logical structure so it’s easy to navigate.

Scroll the whole post below, or use the quick menu to jump to the relevant section.

Open Account
74-89% of retail CFD accounts lose money
Interactive Brokers review
Open Account
CFDs are not available to residents in the United States
Oanda review

Overall Ratings


Rated
79
Rated
80

General Breakdown. This graph highlights the key scores from each Macro, uniquely calculated by us.

  • Interactive Brokers
  • Oanda

Security 95
Security 94

Cost 67
Cost 73

Trading 71
Trading 71

Education 75
Education 80

Company Info


Foundation
1978
1996
Is it Regulated?
Is it Publicly Traded?
Is it a Bank?
Segregated Clients Funds ?
No-ESMA Branches? ?
Accepts EU Clients?
Accepts US Clients?
Accepts Canadian Clients?
Website Languages
en, chi(t/s), de, es, fr, ru, it, jpn
en, de, es, fr, ru, it, chi

Leverage


Non-EU Leverage ?
0
50:1
European Leverage ?
30:1
30:1
Australian Leverage ?
0
30:1
US Leverage ?
0
50:1
Canadian Leverage ?
50:1
50:1

Tier 1 Regulation


FSA ?
MAS ?
FINMA ?
FCA ?
CFTC ?
MIFID-ESMA ?
ASIC ?
IIROC ?
SFC ?

Tier 2 Regulation


FMA ?
CBR ?
FSCA ?
SEC ?
DFSA ?
CBRC ?
CySEC ?
ISA ?

Tier 3 Regulation


Offshore ?
MMA (Maldives) ?
EDR ?
FSA (Seychelles) ?
SCB (Bahamas) ?
FSC (Mauritius) ?
VFSC (Vanuatu) ?
IFSC (Belize) ?
CIMA (Cayman Islands) ?
SVG (Saint Vincent and the Grenadines) ?
FSRC (St. Kitts & Nevis) ?
BMA (Bermuda) ?
BVI (British Virgin Islands) ?

Brand Power


SimilarWeb - Website Ranking
10515
SimilarWeb - Total Visits
8370000
Facebook Likes
66508
Twitter Likes
18400
Instagram Likes
562

Deposit and Withdrawal


Minimum Deposit ?
Minimum Withdraw ?
Credit Card ?
Bank Transfer ?
PayPal
Neteller
Skrill
Other Methods Available ?
Check, Bpay
Deposit Waiting Time ?
1 business day
1-2 business days
Withdraw Waiting Time ?
1 business day
1-2 business days
Bonus Program ?

Costs and Fees


Deposit Fees ?
Withdrawal Commissions ?
Overnight/Swap Fee ?
Inactivity Fee ?
Conversion Fee ?

Account Types


Demo Account ?
Demo Account Expiration ?
Account Currencies ?
AUD, EUR, GBP, USD, CAD, CHF, CNY, CZK, HKD, HUF, JPY, MXN, NOK, NZD, RUB, SEK, SGD
USD
Standard Account ?
Micro Account ?
Low-cost Account ?
Variable Spread Account ?
Fixed Spread Account ?
Zero Spread Account ?
ECN Account ?
Swap Free Account ?
Islamic Account ?
Professional Traders Account ?
Active Trader Program ?

Commodities


Crude Oil ?
3.0
Natural Gas ?
0.6
Silver ?
277.0
Platinum ?
833.4
Copper ?
Soybeans ?
1.0
Corn ?
2.0
Gold ?
205.6

Forex Fixed Spreads


EUR/GBP Spread
EUR/USD Spread
USD/JPY Spread
GBP/USD Spread
USD/CHF Spread
AUD/USD Spread
USD/CAD Spread
NZD/USD Spread

Forex Variable Spreads


EUR/USD Average Spread
0.2
0.1
USD/JPY Average Spread
0.2
0.2
USD/CHF Average Spread
0.2
0.2
GBP/USD Average Spread
0.2
0.2
USD/CAD Average Spread
0.2
0.2
AUD/USD Average Spread
0.2
0.2
NZD/USD Average Spread
0.2
0.2
EUR/GBP Average Spread
0.2
0.2

Fees on Stocks


Apple
1.0
Facebook
1.0
Alphabet
1.0
Snapchat
1.0
BP
4.0
Tesco
4.0
Barclays
4.0
Lloyds
4.0

Fees on Indices


FTSE100
0.8
S&P500
0.3
Dow Jones
Nasdaq
0.5
CAC40
1.2
DAX30
0.9
Nikkei 225
Euro Stoxx 50
0.9

Fees on Cryptocurrencies


Bitcoin
0
0
Ethereum
0
0
Ripple
0
0
Litecoin
0
0
Bitcoin Cash
0
0
Dash
0
0
Monero
0
0
Neo
0
0

Platforms


cTrader Desktop
cTrader Web
Mirror Trader
ZuluTrade ?
MT4 Dekstop
MT4 Web
MT5 Desktop
MT5 Web
Proprietary Desktop Platform
Proprietary Web Platform
MAC Platforms
Sirix

Mobile Trading


Android ?
iOS ?
Windows ?
Trading Signals on Mobile ?
Smart Watch App ?
Forex Trading ?
CFD Trading ?
Alerts ?
Chartings-Drawing Tools ?
Mobile Available Language ?
en, chi(t/s), de, es, fr, ru, it, jpn
en, de, es, fr, ru, ko, chi
Watchlist Mobile ?

Available Markets


Forex Pairs ?
23
55
Crypto ?
23
55
Commodities ?
10
31
Stocks ?
5000
Indices ?
16
ETF ?
50
Futures ?
10
Options ?
10
Bonds ?
38000
6
Metal ?
5
Agricultural ?
5
4
Energies ?
5
3
Interest Rates ?
Penny Stocks ?
IPO ?
Blends ?
Dow Jones ?
FTSE ?
Dax ?
Nikkei ?
Gold Market ?
Bitcoin ?
Real Assets ?
ETF, Stocks

Trading Execution


Direct Market Access (DMA) ?
Straigh Through Processing (STP) ?
Electronic Communication Network (ECN) ?
Market Maker ?
Non Dealing Desk (NDD) ?
FIFO Applies? ?
4 Digits Decimal Pricing ?
5 Digits Decimal Pricing ?

Risk Management


Stop Losses ?
Take Profits ?
Limit Orders ?
Trailing Stop ?
Margin Call ?
OCO Orders ?
Guaranteed Stop Loss ?
Negative Balance Protection ?
Minimum Trade Size ?
0.001 lots
0.00001 lots
Maximum Trade Size ?
100 lots
100 lots

Special Trading Conditions


MAM ?
PAMM ?
Social Trading ?
Copy Trading ?
LAMM ?

Available Trading Techniques


Scalping ?
Hedging ?
Spread Betting ?
Expert Advisor (EA) ?
Virtual Private Server ?
API ?

Trading Tools


One-Click Trading ?
Signal Trading ?
Price Alerts ?
Number Chart Indicators ?
51
51
Number Chart Drawing Tools ?
31
31
Trade Directly From Chart ?
Watchlist ?

Education


Education Center ?
Webinars
Platform Tutorial Video ?
Video on Trading for Beginners ?
Video on Trading for Experts ?
Tutorial Guide
Glossary

Customer Support


Call Back Request ?
Email Support
Phone Support
Live Chat
Support Language Available
en, chi(t/s), de, es, fr, ru, it, jpn
en, de, es, ru, chi

Research


Professional Reports
Social Trading Features - Social Feeds ?
Economic Calendar
Daily Email With Trading Ideas
Analysis From Trading Central (Recognia)
Analysis From Delkos Research
AutoChartist
Traders Sentiment ?
News via Twitter
News via FaceBook
Daily Market Commentary

Interactive Brokers vs Oanda: A Comprehensive Comparison

Interactive Brokers and Oanda are both popular brokers that offer various investment opportunities, trading tools, and platforms. In this comparison, we will evaluate and contrast these brokers in terms of security, demo, account opening, social-copy trading, markets, trading fees, platforms, education, and customer care.

Security

Interactive Brokers is regulated by several regulatory bodies, including FCA, CSSF, CBI, ASIC, HKSFC, SEBI, IIROC, FFAJ, MAS, SEC, and CFTC. It has a security rating of 95, which is excellent. On the other hand, Oanda is regulated by ASIC, MAS, FSA, FCA, NFA, IIROC, and BVI, and it has a security rating of 94. Both brokers offer high levels of security, which can give traders peace of mind when investing.

Demo

Interactive Brokers offers an unlimited demo account with virtual funds of $1,000,000. The virtual funds can be restored by contacting customer support. Oanda also offers an unlimited demo account with virtual funds of $100,000, which can be restored by contacting customer support. However, Interactive Brokers offers a higher amount of virtual funds, which can be beneficial for traders who want to practise and test their strategies extensively.

Account Opening

Interactive Brokers has no minimum deposit requirement, but it requires a minimum of $2,000 to trade with margin. The broker offers over 25 base currencies, including USD, EUR, AUD, and GBP, and several payment methods, such as wire transfers, credit/debit cards, eWallets, IRA transfers, checks, and local payment methods. Oanda has no minimum deposit requirement, and it offers USD, EUR, GBP, CZK, HKD, SGD, and JPY as account currencies. The broker offers payment methods such as wire transfers, credit/debit cards, and eWallets. Both brokers offer a range of account options, currencies, and payment methods, but Interactive Brokers has a wider range of base currencies, which can benefit traders who want to avoid currency conversion fees.

Social-Copy Trading

Interactive Brokers does not offer social or copy trading features. In contrast, Oanda allows traders to engage in social trading through a third-party platform such as Tradingview. Moreover, traders can use the EAs on the MT4 and MT5 platform to engage in copy trading. Oanda’s social-copy trading features can be beneficial for traders who prefer a social aspect in their investment approach.

Markets

Interactive Brokers offers a wide range of trading assets, including Forex, commodities, crypto assets, stocks, ETFs, futures, and options. The broker provides every asset via CFD, which makes it suitable for both short and long-term investing on every market. Oanda offers Forex, commodities, indices, crypto assets, stocks, ETFs, and bonds. European traders can access real stocks, while every asset is available via CFD. Both brokers offer a range of markets, but Interactive Brokers offers a higher number of trading assets.

Trading Fees

Interactive Brokers’ spreads are variable, starting from 0.1 pips on Forex, which is lower than the market average. The commissions per lot traded can be up to $7. Stock commissions are low, with financing rates from 0.75%, and no commissions on stocks and ETFs with the IBKR Lite Plan. With the IBKR Pro Plan, commissions start from $0.0005 per share or ETF. Oanda’s spreads are variable, starting from 1.2 pips on Forex, which is above the market average. The broker charges 0% commission on EUR accounts. Both brokers offer competitive trading fees, but Interactive Brokers offers lower spreads on Forex and lower commissions on stocks and ETFs.

Platforms

Interactive Brokers offers a proprietary trading platform available as desktop, webtrader, and mobile, which allows traders to engage in algo trading. The broker also offers VPS services, FIX API, and TWS API integration. Oanda offers the Oanda Trade Platform, which is available via desktop, web, and mobile, as well as MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. MT5 is only available via webtrader, desktop, and mobile in the European Union. Both brokers offer a range of platforms, but Interactive Brokers’ proprietary platform may be more suitable for traders who want to engage in algo trading.

Education/Customer Care

Interactive Brokers provides a wide range of educational materials, including tutorial videos, IBKR blog, trader’s academy, and much more. The broker’s customer care is easy to contact via email, telephone, and live chat, with 8 languages available. Oanda offers a range of technical and fundamental analysis tutorials, webinars, and events, and the broker’s customer care is easy to contact via phone, email, and live chat. Both brokers offer a range of educational materials and excellent customer care.

Conclusion

In conclusion, both Interactive Brokers and Oanda offer a range of investment opportunities, trading tools, and platforms. However, Interactive Brokers may be more suitable for traders who want a wider range of trading assets, lower trading fees, and access to a proprietary platform that allows algo trading. On the other hand, Oanda may be more suitable for traders who prefer social-copy trading features and a range of platforms, including MT4 and MT5. Ultimately, the choice between these brokers will depend on traders’ preferences and investment goals.

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Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Your capital is at risk. The present page is intended for teaching purposes only. It shall not be intended as operational advice for investments, nor as an invitation to public savings raising. Any real or simulated result shall represent no warranty as to possible future performances. The speculative activity in forex market, as well as in other markets, implies considerable economic risks; anyone who carries out speculative activity does it on its own responsibility.
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