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.
IG Markets
Regulated in your country IG 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 IG Markets and Oanda are best suited to, based on what each one actually offers in Australia.IG Markets is better than Oanda for high-volume traders and options traders. Oanda, on the other hand, is better for futures traders. Long-term investors, professional traders and scalpers can choose either IG Markets or Oanda.
| Overall score | IG Markets 87 Best 88 Best | Oanda 81 -6 74 -14 |
|---|---|---|
| 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 IG Markets and the ones that supervise Oanda.IG Markets and Oanda are both regulated in Australia, by ASIC.
| Section score | IG Markets 100 100 | 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 IG Markets and Oanda have in place to protect your money in Australia.IG Markets and Oanda both offer segregated client funds and two-factor authentication. IG Markets is also a licensed bank.
| Section score | IG Markets 78 Best 78 Best | Oanda 66 -12 66 -12 |
|---|---|---|
| Company info | ||
| Is it publicly traded i | ||
| Is it a bank i | ||
| Year founded i | 1974 | 1996 |
| Parent company i | IG Group Holdings PLC | OANDA Group |
| CEO i | Breon Corcoran | Gavin Bambury |
| Money safety | ||
| Segregated client funds i | ||
| Two-factor authentication i | ||
| Investor compensation scheme i | ||
| Additional money insurance i | ||
| Partner bank i | UniCredit Bank AG, UniCredit S.p.A., J.P. Morgan SE, CaixaBank, Citigroup, BNP Paribas | mBank |
| Brand power | ||
| Number of customers worldwide i | 320,000 | |
| Annual revenue i | US$987,300,000 | US$16,900,000 |
| Monthly website search traffic i | 97.1K monthly visits | |
Costs
What we compare A comparison of what it costs to trade with IG Markets and with Oanda in Australia, both on each trade and on holding the account.IG Markets is better than Oanda for CFD/FX costs, as IG Markets has tighter S&P 500 CFD spreads, at 0.36 points (against Oanda's 0.39 points), has tighter gold CFD spreads, at 0.27 points (against Oanda's 0.52 points), and charges lower Bitcoin CFD fees, at US$40 (against Oanda's US$43.85). Neither IG Markets nor Oanda charges account maintenance fees or deposit fees.
IG Markets is better than Oanda for real stock costs, because IG Markets does not charge inactivity fees, unlike Oanda. Neither IG Markets nor Oanda charges account maintenance fees or deposit fees.
| Section score | IG Markets 72 Best 75 Best | Oanda 66 -6 29 -46 |
|---|---|---|
| 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$6 | 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$9.475 | US$7.35 |
| S&P 500 fees (CFD) i | 0.36 points | 0.39 points |
| Gold fees (CFD) i | 0.27 points | 0.52 points |
| Bitcoin fees (CFD) i | US$40 | US$43.85 |
| US stocks fees (CFD) i | US$0.02 | US$0.06 |
| Fees on stocks | ||
| Stock fee type i | Free, Commission, Percentage | Percentage |
| US stocks fees (real) i | Free | |
| ETF fees (real) i | Free | |
| 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 IG Markets and with Oanda in Australia, and of how many instruments each one gives access to.IG Markets and Oanda are equally good for CFD/FX markets, as IG Markets offers CFDs on ETFs, and gives access to 18,000 tradable symbols (against Oanda's 1,400). On the other hand, Oanda offers futures on crypto and forex. Both IG Markets and Oanda offer CFDs on commodities, crypto, forex, indices and stocks, and let you own stocks and ETFs outright.
IG Markets is better than Oanda for real stock markets, given that IG Markets gives access to 18,000 tradable symbols (against Oanda's 1,400), offers options on commodities, forex, indices and stocks, which Oanda does not, and offers CFDs on ETFs, which Oanda does not. Both IG Markets and Oanda let you own stocks and ETFs outright, and offer CFDs on commodities, crypto, forex, indices and stocks.
| Section score | IG Markets 100 100 Best | Oanda 100 60 -40 |
|---|---|---|
| Total tradable symbols i | 18,000 | 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 | Commodities, Forex, Indices, Stocks | |
| Assets you can own i | Stocks, ETF | Stocks, ETF |
Platform
What we compare A comparison of the trading platforms that IG Markets and Oanda make available to their clients in Australia.IG Markets and Oanda are close on platforms, as both offer a proprietary platform and MetaTrader 4. Oanda has a slight edge, as it offers MetaTrader 5.
| Section score | IG Markets 91 91 | 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 IG Markets and Oanda in Australia, and of what each one lets you do from your phone.There is little between IG Markets and Oanda on mobile trading, as both offer a proprietary mobile app and the MetaTrader 4 app. Oanda has a slight edge, as it offers the MetaTrader 5 app.
| Section score | IG Markets 93 93 | Oanda 93 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 IG Markets and Oanda allow on their platforms in Australia.Oanda is better than IG Markets for CFD/FX trading features. Both IG Markets and Oanda offer negative balance protection and trailing stops.
Oanda is better than IG Markets for real stock trading features, as Oanda has no minimum trade size on stocks (against IG Markets' US$1). Both IG Markets and Oanda offer trailing stops and tier-1 liquidity providers.
| Section score | IG Markets 89 -7 85 -7 | Oanda 96 Best 92 Best |
|---|---|---|
| Trade execution | ||
| Broker type i | Agency | Agency |
| Average execution time i | 14 ms | |
| Slippage occurrence i | 11% | |
| Requotes occurrence i | ||
| 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$1 | 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 IG Markets and at Oanda in Australia, and of who each one is meant for.IG Markets and Oanda are equally good for CFD/FX account types, as both offer a demo account and a professional traders account.
IG Markets is better than Oanda for real stock account types, given that IG Markets offers a stock investing account and a margin investing account, which Oanda does not. Both IG Markets and Oanda offer a demo account and a corporate account.
| Section score | IG Markets 46 68 Best | Oanda 46 34 -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 IG Markets and with Oanda in Australia.IG Markets is better than Oanda for account opening, given that IG Markets offers 14 account base currencies (against Oanda's 9), supports e-wallets, which Oanda does not, and credits deposits faster, within the same day (against Oanda's 1 day). Neither IG Markets nor Oanda requires a minimum deposit.
| Section score | IG Markets 80 Best 80 Best | Oanda 75 -5 75 -5 |
|---|---|---|
| Minimum deposit i | US$0 | US$0 |
| Minimum withdrawal i | US$150 | US$0 |
| Wire transfers i | ||
| Credit cards i | ||
| Debit cards i | ||
| eWallets i | PayPal | |
| Local payment methods i | ||
| Account base currencies i | AUD, CAD, CHF, DKK, EUR, GBP, HKD, JPY, NOK, NZD, SEK, SGD, USD, ZAR | AUD, CAD, CHF, EUR, GBP, HKD, JPY, SGD, USD |
| Deposit waiting time i | Instant | up to 1 business days |
| Withdrawal waiting time i | up to 1 business days | up to 3 business days |
| Bonus program i |
Customer care
What we compare A comparison of the customer support of IG Markets and Oanda in Australia, in how it can be reached and how fast it answers.IG Markets is better than Oanda for customer care, because IG Markets has a website in 12 languages (against Oanda's 7), and offers a dedicated account manager, which Oanda does not. IG Markets and Oanda both offer phone support and live chat.
| Section score | IG Markets 71 Best 71 Best | Oanda 51 -20 51 -20 |
|---|---|---|
| Number of languages supported i | 12 | 7 |
| Website languages i | Arabic, Danish, German, English, French, Italian, Dutch, Norwegian, Portuguese, Russian, Spanish, Swedish | German, English, French, Italian, Russian, Spanish, Chinese |
| Website available in English i | ||
| Customer support languages i | English, 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 IG Markets and Oanda provide to their clients in Australia.IG Markets is better than Oanda for learning, given that IG Markets offers professional reports and daily market commentary, which Oanda does not. IG Markets and Oanda both offer education for advanced traders and webinars.
| Section score | IG Markets 100 Best 100 Best | Oanda 80 -20 80 -20 |
|---|---|---|
| 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 | ||
IG Markets vs Oanda: which one should you choose?
IG Markets
CFD/FX Choose IG Markets if you want a CFD and forex broker with ProRealTime and a wide choice of markets.
Stocks Choose IG Markets if you want a broker for securities investing with commission-free US stocks and options.
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 an online CFD broker with MetaTrader 5 and raw spread accounts.
Stocks Choose Oanda if you want a stockbroker with MetaTrader 5, futures and retirement accounts.
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 IG Markets or Oanda, each scored with the same data and method as this page.
