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OANDA vs IC Markets 2026

ForexBrokers.com

Written by ForexBrokers.com

February 05, 2025
  Fact Checked

In this head to head comparison of OANDA vs IC Markets, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.

OANDA
4.5/5 Stars Overall
  • Minimum Deposit: $0
  • Trust Score: 92
  • Tradeable Symbols (Total): 4172 info
IC Markets
4.5/5 Stars Overall
  • Minimum Deposit: $200
  • Trust Score: 83
  • Tradeable Symbols (Total): 3583

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Regulation

OANDA and IC Markets are well-known online brokers with long track records. OANDA was founded in 1996, while IC Markets began in 2007. Neither company is publicly traded, and neither operates as a bank.

In terms of regulation, OANDA holds 7 Tier-1 licenses (considered highly trusted by ForexBrokers.com), compared to 2 for IC Markets; both hold 0 Tier-2 licenses. OANDA’s ForexBrokers.com Trust Score is 92, which places it in the “highly trusted” 90–99 range, while IC Markets scores 83, fitting the “trusted” 80–89 range. These ratings can help investors gauge perceived safety based on regulatory oversight and licensing.

Feature OANDA logoOANDA
IC Markets logoIC Markets
Year Founded info 1996 2007
Publicly Traded (Listed) info No No
Bank info No No
Tier-1 Licenses info 7 2
Tier-2 Licenses info 0 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 1 3

Fees

When comparing commissions and fees, IC Markets comes out ahead of OANDA for most traders. OANDA’s trading costs are usually higher, with average EUR/USD spreads of 1.61 pips on its default pricing in July 2024. Its core pricing can be cheaper on paper, but it adds a commission of $5 per $100,000 traded per side, so the final all-in cost is only a little better than the regular account. OANDA does offer very small trade sizes, pricing transparency, and rebates for active traders in some regions, but it is still not a low-cost choice overall. OANDA earns 4 stars and ranks #30 out of 36 for commissions and fees.

IC Markets is known for low trading costs, especially on its commission-based accounts. It offers a commission-free Standard account, plus Raw Spread and cTrader Raw Spread accounts with tight spreads and low commissions. On the cTrader Raw Spread account, the commission is $3.00 per side per 100,000 units, while the MetaTrader Raw Spread account charges $3.50 per side. With very low average spreads and a $0.62 to $0.72 all-in cost on EUR/USD based on the figures provided, IC Markets is much more competitive than OANDA for active forex traders. IC Markets earns 5 stars and ranks #5 out of 36.

In simple terms, OANDA is a better fit if you value flexible trade sizing and clear pricing, while IC Markets is the stronger pick if keeping commissions and spreads low is your top priority. For cost-conscious traders, IC Markets has the edge.

Feature OANDA logoOANDA
IC Markets logoIC Markets
Minimum Deposit info $0 $200
Average spread (EUR/USD) - Standard account info 1.68 info 0.62 info
All-in Cost EUR/USD - Active info 1.69 info 0.62 info
Non-wire bank transfer info Yes info No
PayPal (Deposit/Withdraw) info Yes Yes
Skrill (Deposit/Withdraw) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes

Dive deeper: Best Low Spread Forex Brokers.

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Range of investments

OANDA and IC Markets both give traders access to forex as a CFD or spot contract, plus copy trading and cryptocurrency CFDs. They each also let clients trade international exchange-listed shares, but OANDA goes a step further by offering exchange traded U.S. stocks such as Apple, while IC Markets does not. OANDA also stands out for letting clients buy actual cryptocurrency, not just crypto CFDs.

When it comes to overall market choice, OANDA offers more tradeable symbols than IC Markets, with 4,172 versus 3,583, and more forex pairs, with 69 compared with 61. Both brokers receive the same 4.5-star rating for Range of Investments, but OANDA is ranked slightly higher by ForexBrokers.com at #20 out of 36, ahead of IC Markets at #22.

Feature OANDA logoOANDA
IC Markets logoIC Markets
Forex Trading (Spot or CFDs) info Yes info Yes
Tradeable Symbols (Total) info 4172 info 3583
Forex Pairs (Total) info 69 61
U.S. Stocks (Shares) info Yes No
Global Stocks (Non-U.S. Shares) info Yes Yes
Copy Trading info Yes info Yes
Cryptocurrency (Underlying) info Yes No
Cryptocurrency (CFDs) info Yes info Yes
Disclaimers Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).

Dive deeper: Best Copy Trading Platforms.

Trading platforms and tools

OANDA and IC Markets both give traders a strong range of platform choices, including free demo accounts, web-based trading, Windows desktop downloads, copy trading, and the popular MetaTrader 4 and MetaTrader 5 platforms. Each broker also lets you place trades directly from a chart, which can make it easier to react quickly while analyzing price moves. In short, both brokers cover the basics well for traders who want flexibility across different devices and trading styles.

The main difference is that OANDA also offers its own in-house trading platform, while IC Markets does not. That extra platform choice may appeal to traders who prefer a broker-built experience instead of relying only on third-party software. Even so, both brokers are evenly matched in overall user ratings for trading platforms and tools, with 4 out of 5 stars each. On ForexBrokers.com, OANDA ranks #16 out of 36 brokers in this category, just ahead of IC Markets at #17.

Feature OANDA logoOANDA
IC Markets logoIC Markets
Virtual Trading (Demo) info Yes Yes
Proprietary Desktop Trading Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info Yes info Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes info Yes
Charting - Indicators / Studies (Total) info 89 30
Charting - Trade From Chart info Yes Yes

Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.

Forex trading apps

OANDA and IC Markets both offer mobile trading apps for iPhone and Android, along with price alerts, so traders can keep up with the markets on the go. Each app also includes 30 technical studies, trendline drawing tools, and auto-saving for chart drawings. One shared limitation is that neither broker offers watchlist symbol syncing between the mobile app and the online account.

Where OANDA stands out is in third-party recognition. ForexBrokers.com gives OANDA a 5-star rating for Mobile Trading Apps and ranks it #7 out of 36 brokers, while IC Markets earns 4 stars and ranks #22. For mobile trading, both brokers cover the basics well, but OANDA appears to have the edge in overall app quality and user experience.

Feature OANDA logoOANDA
IC Markets logoIC Markets
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Mobile Watchlists - Syncing info No No
Mobile Charting - Indicators / Studies info 30 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info Yes Yes

Dive deeper: Best Forex Trading Apps.

Market research

OANDA and IC Markets both give traders a wide range of market research tools, including daily market commentary, forex news from top sources like Bloomberg and Reuters, Autochartist support, sentiment data, and an economic calendar with major global events. Both brokers also cover the basics well for traders who want to follow news and monitor market moves without needing to rely on outside sources.

The main difference is that IC Markets adds Trading Central research tools, while OANDA does not. Even so, OANDA comes out ahead overall for research, with a 5-star rating and a #4 ranking out of 36 brokers from ForexBrokers.com, compared with IC Markets’ 4-star rating and #21 ranking. For traders focused on market research quality, OANDA has the edge, while IC Markets still offers a strong set of research features.

Feature OANDA logoOANDA
IC Markets logoIC Markets
Daily Market Commentary (Articles) info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes Yes
Trading Central info No Yes
Client sentiment data info Yes Yes
TipRanks info No No
Acuity Trading info No No
Economic Calendar info Yes Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

OANDA and IC Markets both give beginners a strong starting point when it comes to learning forex and CFDs. Each broker offers a wide set of educational materials, including at least 10 pieces focused on forex or CFDs, monthly online webinars, and 10 or more beginner videos along with 10 or more advanced videos for traders who want to keep learning. This means new traders can find help with the basics, while more experienced users can also access content that goes further.

Looking at ratings, OANDA is scored 5 stars for Education and is ranked #18 out of 36 brokers by ForexBrokers.com, while IC Markets is rated 4 stars and ranked #16. In simple terms, both brokers are useful for beginners, but OANDA appears to have the edge in overall education quality, while IC Markets holds a slightly higher rank in the category.

Feature OANDA logoOANDA
IC Markets logoIC Markets
Webinars info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes

Dive deeper: Best Forex Brokers for Beginners.

Winner

After testing 63 of the best forex brokers, our research and account testing finds that OANDA is better than IC Markets. OANDA finished with an overall rank of #13, while IC Markets finished with an overall rank of #21.

A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.

Feature OANDA logoOANDA
IC Markets logoIC Markets
Overall Rating info 4.5/5 Stars 4.5/5 Stars
Trust Score info 92 83
Range of Investments 4.5/5 Stars 4.5/5 Stars
Trading Fees 4/5 Stars 5/5 Stars
Trading Platforms 4/5 Stars 4/5 Stars
Research 5/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Education 4/5 Stars 4/5 Stars

FAQs

Can you trade cryptocurrency with OANDA or IC Markets?

OANDA vs IC Markets: OANDA lets you buy actual (delivered) cryptocurrencies and trade crypto CFDs, while IC Markets only offers cryptocurrency CFDs and does not support purchasing real, delivered crypto.

What funding options does each broker offer?

Comparing OANDA vs IC Markets for deposits and withdrawals: OANDA supports ACH/SEPA, PayPal, Skrill, and bank wire transfers, while IC Markets does not support ACH/SEPA but does accept PayPal, Skrill, and bank wires.

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We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.

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Overall Rating OANDA IC Markets
Overall Rating info 4.5/5 Stars 4.5/5 Stars
Trading Fees 4/5 Stars 5/5 Stars
Range of Investments 4.5/5 Stars 4.5/5 Stars
Trading Platforms 4/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 4/5 Stars
Education 4/5 Stars 4/5 Stars
Trust Score info 92 83
Winner check_circle
Review OANDA Review IC Markets Review
Broker Screenshots OANDA IC Markets
Broker Gallery (click to expand) info
OANDA fxTrade mobile trading app charting OANDA Trade web platform. OANDA's website features research in the form of its MarketPulse blog, which includes news, analysis, and articles. The OANDA website's educational hub features webinars and videos covering current events and financial analysis.
IC Markets cTrader mobile app charting IC Markets EU cTrader desktop trading platform layout IC Markets webinar IC Your Trade YouTube video series. IC Markets Educational content blog articles.
Regulation OANDA IC Markets
Trust Score info 92 83
Year Founded info 1996 2007
Publicly Traded (Listed) info No No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-1 Licenses info 7 2
Tier-2 Licenses info 0 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 1 3
Tier-1 Licenses (Highly Trusted) OANDA IC Markets
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info Yes No
Hong Kong (SFC Authorised) info No No
Japan (FSA Authorised) info Yes No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info
United Kingdom (U.K.) (FCA Authorised) info Yes No
USA (CFTC Authorized) info Yes No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-2 Licenses (Trusted) OANDA IC Markets
Kenya (CMA Authorised) info
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA, FSRA, or CMA Authorised) info No No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info
Investments OANDA IC Markets
Forex Trading (Spot or CFDs) info Yes info Yes
Tradeable Symbols (Total) info 4172 info 3583
Forex Pairs (Total) info 69 61
U.S. Stocks (Shares) info Yes No
Global Stocks (Non-U.S. Shares) info Yes Yes
Copy Trading info Yes info Yes
Cryptocurrency (Underlying) info Yes No
Cryptocurrency (CFDs) info Yes info Yes
Disclaimers Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).
Cost OANDA IC Markets
Average spread (EUR/USD) - Standard account info 1.68 info 0.62 info
All-in Cost EUR/USD - Active info 1.69 info 0.62 info
Inactivity Fee info Yes No
Order execution: Agency info No Yes
Order execution: Market Maker info Yes Yes
Funding OANDA IC Markets
Minimum Deposit info $0 $200
PayPal (Deposit/Withdraw) info Yes Yes
Skrill (Deposit/Withdraw) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Non-wire bank transfer info Yes info No
Trading Platforms OANDA IC Markets
Proprietary Desktop Trading Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info Yes info Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes info Yes
cTrader info No Yes
Trading Tools OANDA IC Markets
Virtual Trading (Demo) info Yes Yes
Price Alerts info Yes Yes
Charting - Indicators / Studies (Total) info 89 30
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading OANDA IC Markets
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Mobile Watchlist [DELETED] info
Mobile Watchlists - Syncing info No No
Mobile Charting - Indicators / Studies info 30 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info Yes Yes
Mobile Research - Economic Calendar info Yes Yes
Research OANDA IC Markets
Daily Market Commentary (Articles) info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes Yes
Trading Central info No Yes
TipRanks info No No
Client sentiment data info Yes Yes
Economic Calendar info Yes Yes
Education OANDA IC Markets
Webinars info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Major Forex Pairs OANDA IC Markets
GBP/USD [DELETED] info
USD/JPY [DELETED] info
EUR/USD info Yes Yes
USD/CHF [DELETED] info
USD/CAD [DELETED] info
NZD/USD [DELETED] info
AUD/USD [DELETED] info
Review OANDA Review IC Markets Review
Overall OANDA IC Markets
Overall Rating info 4.5/5 Stars 4.5/5 Stars
Trading Fees 4/5 Stars 5/5 Stars
Range of Investments 4.5/5 Stars 4.5/5 Stars
Trading Platforms 4/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 4/5 Stars
Education 4/5 Stars 4/5 Stars
Trust Score info 92 83
Winner check_circle
Review OANDA Review IC Markets Review
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