Scores, winners and data below compare these brokers as CFD/FX brokers: leveraged trading on forex, indices, commodities and crypto. Scores, winners and data below compare these brokers as stock brokers: real shares and ETFs you own outright.
IC Markets
Regulated in your country IC Markets is allowed by ASIC to onboard clients residing in Australia.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Oanda
Regulated in your country Oanda is allowed by ASIC to onboard clients residing in Australia.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Best for
What we compare A comparison of the kinds of traders IC Markets and Oanda are best suited to, based on what each one actually offers in Australia.Oanda is better than IC Markets for long-term investors and futures traders. Professional traders, scalpers and swing traders can choose either Oanda or IC Markets.
| Overall score | IC Markets 84 not offered | Oanda 81 -3 74 |
|---|---|---|
| Day trading i | ||
| Long-term investing i | ||
| Professional traders i | ||
| High-volume traders i | ||
| Scalpers i | ||
| Swing traders i | ||
| News traders i | ||
| Algo traders i | ||
| Stock traders i | ||
| Crypto traders i | ||
| Futures traders i | ||
| Options traders i |
Regulation
What we compare A comparison between the financial authorities that supervise IC Markets and the ones that supervise Oanda.IC Markets and Oanda are both regulated in Australia, by ASIC.
| Section score | IC Markets 100 not offered | Oanda 100 100 |
|---|---|---|
| Tier-1 regulators | ||
| ESMA (European Union) i | ||
| FCA (United Kingdom) i | ||
| ASIC (Australia) i | ||
| CFTC (United States) i | ||
| NFA (United States) i | ||
| SEC (United States) i | ||
| CIRO (Canada) i | ||
| MAS (Singapore) i | ||
| SFC (Hong Kong) i | ||
| JFSA (Japan) i | ||
| FINMA (Switzerland) i | ||
| Tier-2 regulators | ||
| FMA (New Zealand) i | ||
| CBR (Russia) i | ||
| FSCA (South Africa) i | ||
| DFSA (Dubai) i | ||
| CSRC (China) i | ||
| ISA (Israel) i | ||
| LFSA (Malaysia) i | ||
| JSC (Jordan) i | ||
| CMA (Kenya) i | ||
| Tier-3 regulators | ||
| FSA (Seychelles) i | ||
| MMA (Maldives) i | ||
| SCB (Bahamas) i | ||
| FSC (Mauritius) i | ||
| VFSC (Vanuatu) i | ||
| FSC (Belize) i | ||
| CIMA (Cayman Islands) i | ||
| SV FSA (Saint Vincent and the Grenadines) i | ||
| FSRC (St. Kitts & Nevis) i | ||
| BMA (Bermuda) i | ||
| BVI FSC (British Virgin Islands) i | ||
| EDR (External Dispute Resolution) i | ||
Safety
What we compare A comparison of the tools and services that IC Markets and Oanda have in place to protect your money in Australia.Both IC Markets and Oanda offer segregated client funds and two-factor authentication.
| Section score | IC Markets 65 -1 not offered | Oanda 66 66 |
|---|---|---|
| Company info | ||
| Is it publicly traded i | ||
| Is it a bank i | ||
| Year founded i | 2007 | 1996 |
| Parent company i | International Capital Markets Pty Ltd | OANDA Group |
| CEO i | Andrew Budzinski | Gavin Bambury |
| Money safety | ||
| Segregated client funds i | ||
| Two-factor authentication i | ||
| Investor compensation scheme i | ||
| Additional money insurance i | ||
| Partner bank i | Eurobank | mBank |
| Brand power | ||
| Number of customers worldwide i | ||
| Annual revenue i | US$16,900,000 | |
| Monthly website search traffic i | 2.2M monthly visits | |
Costs
What we compare A comparison of what it costs to trade with IC Markets and with Oanda in Australia, both on each trade and on holding the account.IC Markets and Oanda are equally good for CFD/FX costs, since IC Markets has tighter EUR/USD standard spreads, at 0.8 pips (against Oanda's 1.07 pips), and has tighter gold CFD spreads, at 0.08 points (against Oanda's 0.52 points). On the other hand, Oanda is cheaper on EUR/USD, at US$7.35 per lot (against IC Markets' US$8), and has tighter S&P 500 CFD spreads, at 0.39 points (against IC Markets' 0.49 points). Neither IC Markets nor Oanda charges account maintenance fees or deposit fees.
Only Oanda can be assessed for real stock costs, since IC Markets is a CFD broker and does not offer real stocks.
| Section score | IC Markets 64 -2 not offered | Oanda 66 29 |
|---|---|---|
| Broker fees | ||
| Deposit fees i | ||
| Withdrawal fees i | ||
| Overnight fees i | ||
| Inactivity fees i | ||
| Currency conversion fees i | ||
| Discounts on volume i | ||
| Real time market data fee i | ||
| Dividend withholding i | ||
| Account opening fees i | ||
| Account maintenance fee i | ||
| Portfolio management fee i | ||
| Fees on CFDs | ||
| Forex commission per lot i | US$7 | US$3 |
| EUR/USD average standard spread i | ||
| EUR/USD average raw spread i | ||
| EUR/USD average fixed spread i | ||
| EUR/USD total cost per lot i | US$8 | US$7.35 |
| S&P 500 fees (CFD) i | 0.492 points | 0.39 points |
| Gold fees (CFD) i | 0.08 points | 0.52 points |
| Bitcoin fees (CFD) i | US$12.01 | US$43.85 |
| US stocks fees (CFD) i | US$0.02 | US$0.06 |
| Fees on stocks | ||
| Stock fee type i | Commission, Percentage | Percentage |
| US stocks fees (real) i | ||
| ETF fees (real) i | ||
| Management costs i | ||
| Connection costs i | ||
| Fees on futures | ||
| Futures fees per contract i | ||
| Platform fees i | ||
| Fees on options | ||
| Options fees per contract i | ||
| Event fees i | ||
| Fees on savings plans | ||
| IRA opening fee i | ||
| IRA maintenance fee i | ||
| 401k opening fee i | ||
| 401k maintenance fee i | ||
Available markets
What we compare A comparison of the markets and products you can trade with IC Markets and with Oanda in Australia, and of how many instruments each one gives access to.Oanda is better than IC Markets for CFD/FX markets, since Oanda lets you own stocks and ETFs outright, which IC Markets does not, and offers futures on crypto and forex, which IC Markets does not. Both IC Markets and Oanda offer CFDs on commodities, crypto, forex, indices and stocks.
There is no like-for-like comparison for real stock markets, as IC Markets is a CFD broker and does not offer real stocks.
| Section score | IC Markets 75 -25 not offered | Oanda 100 Best 60 |
|---|---|---|
| Total tradable symbols i | 2,250 | 1,400 |
| Currency pairs i | ||
| Indices i | ||
| Commodities i | ||
| Stocks i | ||
| ETF i | ||
| Cryptocurrencies i | ||
| Bonds i | ||
| Interest rates i | ||
| Portfolios i | ||
| CFDs i | Commodities, Crypto, ETF, Forex, Indices, Stocks | Commodities, Crypto, Forex, Indices, Stocks |
| Futures i | Crypto, Forex | |
| Options i | ||
| Assets you can own i | Stocks, ETF |
Platform
What we compare A comparison of the trading platforms that IC Markets and Oanda make available to their clients in Australia.IC Markets and Oanda are equally good for platforms, since IC Markets offers cTrader and copy trading while Oanda offers a proprietary platform and AutoChartist. Both IC Markets and Oanda offer MetaTrader 5 and MetaTrader 4.
Only Oanda can be assessed for platforms, since IC Markets is a CFD broker and does not offer real stocks.
| Section score | IC Markets 89 -2 not offered | Oanda 91 91 |
|---|---|---|
| Proprietary platform i | ||
| MetaTrader 4 i | ||
| MetaTrader 5 i | ||
| cTrader i | ||
| Social trading platform i | ||
| Copy trading platform i | ||
| ZuluTrade i | ||
| TradingView i | ||
| Duplitrade i | ||
| Mirror Trader i | ||
| NinjaTrader i | ||
| AutoChartist i | ||
| Real time pricing i | ||
| 5 digit pricing i | ||
| One-click trading i |
Mobile
What we compare A comparison of the mobile apps of IC Markets and Oanda in Australia, and of what each one lets you do from your phone.Oanda is better than IC Markets for mobile trading, as Oanda offers mobile trading signals, which IC Markets does not. IC Markets and Oanda both offer a proprietary mobile app and the MetaTrader 5 app.
IC Markets does not offer real stocks, being a CFD broker, so Oanda and IC Markets cannot be compared for mobile trading.
| Section score | IC Markets 86 -7 not offered | Oanda 93 Best 93 |
|---|---|---|
| Proprietary app i | ||
| Social trading app i | ||
| Copy trading app i | ||
| MetaTrader 4 app i | ||
| MetaTrader 5 app i | ||
| cTrader app i | ||
| Mobile trading signals i | ||
| Mobile alerts i | ||
| Mobile charting tools i | ||
| Mobile drawing tools i | ||
| Mobile watchlist i | ||
| Smartwatch app i |
Trading features
What we compare A comparison of the trading tools and strategies that IC Markets and Oanda allow on their platforms in Australia.Oanda is better than IC Markets for CFD/FX trading features, since Oanda offers guaranteed stop losses, which IC Markets does not. IC Markets and Oanda both offer negative balance protection and trailing stops.
Oanda and IC Markets cannot be compared for real stock trading features, because Oanda is a broker offering both CFDs and stocks while IC Markets is a CFD broker.
| Section score | IC Markets 87 -9 not offered | Oanda 96 Best 92 |
|---|---|---|
| Trade execution | ||
| Broker type i | Hybrid | Agency |
| Average execution time i | 40 ms | |
| Slippage occurrence i | ||
| Requotes occurrence i | 0% | |
| Tier-1 liquidity providers i | ||
| PFOF i | ||
| Leverage | ||
| Major FX pairs leverage i | 30:1 | 30:1 |
| Minor/Exotic FX pairs leverage i | 20:1 | 20:1 |
| Major indices leverage i | 20:1 | 20:1 |
| Minor indices leverage i | 10:1 | 10:1 |
| Gold leverage i | 20:1 | 20:1 |
| Commodities leverage i | 10:1 | 10:1 |
| Equities leverage i | 5:1 | 5:1 |
| Cryptocurrency leverage i | 2:1 | 2:1 |
| Risk management | ||
| Stop losses i | ||
| Take profits i | ||
| Limit orders i | ||
| Trailing stop i | ||
| Margin call i | ||
| OCO orders i | ||
| Guaranteed stop loss i | ||
| Negative balance protection i | ||
| Minimum trade size (FX) i | 0.01 lots | 0.01 lots |
| Minimum trade size (stocks) i | US$0 | US$0 |
| Fractional stocks i | ||
| Trading compliance | ||
| Scalping strategies allowed i | ||
| Hedging strategies allowed i | ||
| Automated trading strategy allowed i | ||
| EAs use allowed i | ||
| HFT strategy allowed i | ||
| VPS use allowed i | ||
| API use allowed i | ||
| Price scraping allowed i | ||
| FIFO rule applies i | ||
Account types
What we compare A comparison of the kinds of account you can open at IC Markets and at Oanda in Australia, and of who each one is meant for.IC Markets is better than Oanda for CFD/FX account types, as IC Markets offers an ECN account, an Islamic account and an unlimited demo account, which Oanda does not. Both IC Markets and Oanda offer a demo account and a professional traders account.
Oanda and IC Markets cannot be set side by side for real stock account types, as IC Markets is a CFD broker and does not offer real stocks, unlike Oanda.
| Section score | IC Markets 74 Best not offered | Oanda 46 -28 34 |
|---|---|---|
| Demo account i | ||
| Unlimited demo account i | ||
| Standard account i | ||
| Micro account i | ||
| Cent account i | ||
| Nano account i | ||
| Raw spread account i | ||
| ECN account i | ||
| Swap-free account i | ||
| Islamic account i | ||
| Professional traders account i | ||
| Fixed spread account i | ||
| Spread betting account i | ||
| Copy trading account i | ||
| Corporate account i | ||
| Managed account i | ||
| Stock investing account i | ||
| Margin investing account i | ||
| Savings account i | ||
| Retirement account i |
Account opening
What we compare A comparison of what it takes to open and fund an account with IC Markets and with Oanda in Australia.IC Markets is better than Oanda for account opening, because IC Markets offers 10 account base currencies (against Oanda's 9), and supports e-wallets, which Oanda does not. However, Oanda does not require a minimum deposit at all (against IC Markets' US$200).
Oanda and IC Markets cannot be set side by side for account opening, as IC Markets is a CFD broker and does not offer real stocks, unlike Oanda.
| Section score | IC Markets 85 Best not offered | Oanda 75 -10 75 |
|---|---|---|
| Minimum deposit i | US$200 | US$0 |
| Minimum withdrawal i | US$0 | US$0 |
| Wire transfers i | ||
| Credit cards i | ||
| Debit cards i | ||
| eWallets i | PayPal, Neteller, Skrill | |
| Local payment methods i | ||
| Account base currencies i | AUD, USD, EUR, CAD, GBP, SGD, NZD, JPY, HKD, CHF | AUD, CAD, CHF, EUR, GBP, HKD, JPY, SGD, USD |
| Deposit waiting time i | up to 5 business days | up to 1 business days |
| Withdrawal waiting time i | up to 5 business days | up to 3 business days |
| Bonus program i |
Customer care
What we compare A comparison of the customer support of IC Markets and Oanda in Australia, in how it can be reached and how fast it answers.IC Markets is better than Oanda for customer care, since IC Markets offers customer support in 17 languages (against Oanda's 5), has a website in 17 languages (against Oanda's 7), and offers a dedicated account manager, which Oanda does not. Both IC Markets and Oanda offer phone support and live chat.
IC Markets does not offer real stocks, being a CFD broker, so Oanda and IC Markets cannot be compared for customer care.
| Section score | IC Markets 92 Best not offered | Oanda 51 -41 51 |
|---|---|---|
| Number of languages supported i | 17 | 7 |
| Website languages i | Arabic, Bulgarian, Czech, German, English, French, Croatian, Indonesian, Italian, Korean, Malay, Portuguese, Russian, Spanish, Thai, Vietnamese, Chinese | German, English, French, Italian, Russian, Spanish, Chinese |
| Website available in English i | ||
| Customer support languages i | Arabic, Bulgarian, Czech, German, English, French, Croatian, Indonesian, Italian, Korean, Malay, Portuguese, Russian, Spanish, Thai, Vietnamese, Chinese | German, English, Russian, Spanish, Chinese |
| Customer support in English i | ||
| Call back request i | ||
| Email support i | ||
| Phone support i | ||
| Live chat i | ||
| Priority customer support i | ||
| Dedicated account manager i | ||
| Cash sweep i | ||
| Stock lending i | ||
| Distributes proceeds i | ||
| Tax withholding agent i | ||
| Tax assistance i |
Learning
What we compare A comparison of the educational material that IC Markets and Oanda provide to their clients in Australia.IC Markets is better than Oanda for learning, as IC Markets offers professional reports and daily market commentary, which Oanda does not. Both IC Markets and Oanda offer education for advanced traders and webinars.
Oanda and IC Markets cannot be set side by side for learning, as IC Markets is a CFD broker and does not offer real stocks, unlike Oanda.
| Section score | IC Markets 100 Best not offered | Oanda 80 -20 80 |
|---|---|---|
| Education | ||
| Education center i | ||
| Education for beginners i | ||
| Education for advanced traders i | ||
| Webinars i | ||
| Tutorials i | ||
| Glossary i | ||
| Research | ||
| Economic calendar i | ||
| Traders' sentiment i | ||
| Daily market commentary i | ||
| Daily trading ideas i | ||
| News via social media i | ||
| Professional reports i | ||
| Watchlist i | ||
IC Markets vs Oanda: which one should you choose?
IC Markets
CFD/FX Choose IC Markets if you want a CFD and forex broker with cTrader and a wide choice of markets.
Open Account CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Oanda
CFD/FX Choose Oanda if you want a forex brokerage service with no minimum deposit and a proprietary trading platform.
Stocks Choose Oanda if you want a stockbroker with retirement accounts and futures.
Open Account CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.Other popular comparisons
Below are other head-to-head comparisons that include IC Markets or Oanda, each scored with the same data and method as this page.
