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.
Interactive Brokers
Regulated in your country Interactive Brokers 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 Interactive Brokers and Oanda are best suited to, based on what each one actually offers in Australia.Interactive Brokers is better than Oanda for day traders, high-volume traders and options traders, while Oanda is better for crypto traders. Long-term investors, professional traders and scalpers can choose either Interactive Brokers or Oanda.
| Overall score | Interactive Brokers 83 83 Best | Oanda 81 -2 74 -9 |
|---|---|---|
| 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 Interactive Brokers and the ones that supervise Oanda.Interactive Brokers and Oanda are both regulated in Australia, by ASIC.
| Section score | Interactive Brokers 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 Interactive Brokers and Oanda have in place to protect your money in Australia.Both Interactive Brokers and Oanda offer segregated client funds and two-factor authentication.
| Section score | Interactive Brokers 73 Best 73 Best | Oanda 66 -7 66 -7 |
|---|---|---|
| Company info | ||
| Is it publicly traded i | ||
| Is it a bank i | ||
| Year founded i | 1978 | 1996 |
| Parent company i | Interactive Brokers Group, Inc. | OANDA Group |
| CEO i | Milan Galik | Gavin Bambury |
| Money safety | ||
| Segregated client funds i | ||
| Two-factor authentication i | ||
| Investor compensation scheme i | ||
| Additional money insurance i | ||
| Partner bank i | Agricultural Bank of China, Australia and New Zealand Banking Group, Banco Santander, Bank Hapoalim, Bank of China, Barclays Bank Ireland, Barclays Bank, Euroclear Bank, HSBC Bank, HSBC Continental Europe, ING Bank, ING Belgium, ING Bank Slaski, J.P. Morgan SE, J.P. Morgan Chase Bank, Mizuho Bank, MUFG Bank, NatWest Bank, Oversea Chinese Banking Corporation, Raiffeisen Bank International, Raiffeisen Bank Zrt, Raiffeisenbank a.s., Royal Bank of Canada, Skandinaviska Enskilda Bank, Societe Generale, Standard Chartered Bank, The Hongkong and Shanghai Banking Corporation, UBS Switzerland, United Overseas Bank, Wells Fargo Bank | mBank |
| Brand power | ||
| Number of customers worldwide i | 3,337,000 | |
| Annual revenue i | US$6,205,000,000 | US$16,900,000 |
| Monthly website search traffic i | ||
Costs
What we compare A comparison of what it costs to trade with Interactive Brokers and with Oanda in Australia, both on each trade and on holding the account.Interactive Brokers is better than Oanda for CFD/FX costs, since Interactive Brokers is cheaper on EUR/USD, at US$2 per lot (against Oanda's US$7.35), charges lower US stock CFD fees, at US$0.01 (against Oanda's US$0.06), and does not charge inactivity fees, unlike Oanda. Neither Interactive Brokers nor Oanda charges account maintenance fees or deposit fees.
Interactive Brokers is better than Oanda for real stock costs, given that Interactive Brokers does not charge inactivity fees, unlike Oanda. Neither Interactive Brokers nor Oanda charges account maintenance fees or deposit fees.
| Section score | Interactive Brokers 91 Best 79 Best | Oanda 66 -25 29 -50 |
|---|---|---|
| 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$2 | 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$2 | US$7.35 |
| S&P 500 fees (CFD) i | 0.39 points | |
| Gold fees (CFD) i | 0.52 points | |
| Bitcoin fees (CFD) i | US$43.85 | |
| US stocks fees (CFD) i | US$0.005 | US$0.06 |
| Fees on stocks | ||
| Stock fee type i | Commission, Percentage | Percentage |
| US stocks fees (real) i | US$2.1 | |
| ETF fees (real) i | US$2.1 | |
| Management costs i | ||
| Connection costs i | ||
| Fees on futures | ||
| Futures fees per contract i | US$0.85 | |
| Platform fees i | ||
| Fees on options | ||
| Options fees per contract i | US$0.65 | |
| 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 Interactive Brokers and with Oanda in Australia, and of how many instruments each one gives access to.Interactive Brokers and Oanda are equally good for CFD/FX markets, as Interactive Brokers gives access to 15,000 tradable symbols (against Oanda's 1,400), and lets you own bonds, crypto, funds and forex outright. On the other hand, Oanda offers futures on crypto and forex. Both Interactive Brokers and Oanda offer CFDs on commodities, crypto, forex, indices and stocks, and let you own ETFs and stocks outright.
Interactive Brokers is better than Oanda for real stock markets, since Interactive Brokers lets you own bonds, crypto, funds and forex outright, which Oanda does not, gives access to 15,000 tradable symbols (against Oanda's 1,400), and offers futures on indices and commodities, which Oanda does not. Both Interactive Brokers and Oanda let you own ETFs and stocks outright, and offer CFDs on commodities, crypto, forex, indices and stocks.
| Section score | Interactive Brokers 100 100 Best | Oanda 100 60 -40 |
|---|---|---|
| Total tradable symbols i | 15,000 | 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, Forex, Indices, Stocks | Commodities, Crypto, Forex, Indices, Stocks |
| Futures i | Indices, Commodities | Crypto, Forex |
| Options i | Stocks, Indices | |
| Assets you can own i | Bonds, Crypto, ETF, Funds, Forex, Stocks | Stocks, ETF |
Platform
What we compare A comparison of the trading platforms that Interactive Brokers and Oanda make available to their clients in Australia.Oanda is better than Interactive Brokers for platforms, because Oanda offers MetaTrader 5, MetaTrader 4 and AutoChartist, which Interactive Brokers does not. Interactive Brokers and Oanda both offer a proprietary platform and TradingView.
| Section score | Interactive Brokers 80 -11 80 -11 | Oanda 91 Best 91 Best |
|---|---|---|
| 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 Interactive Brokers and Oanda in Australia, and of what each one lets you do from your phone.Oanda is better than Interactive Brokers for mobile trading, because Oanda offers the MetaTrader 5 app, the MetaTrader 4 app and mobile trading signals, which Interactive Brokers does not. Interactive Brokers and Oanda both offer a proprietary mobile app and mobile price alerts.
| Section score | Interactive Brokers 80 -13 80 -13 | Oanda 93 Best 93 Best |
|---|---|---|
| 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 Interactive Brokers and Oanda allow on their platforms in Australia.Oanda is better than Interactive Brokers for CFD/FX trading features, as Oanda offers guaranteed stop losses and VPS hosting, which Interactive Brokers does not, and allows for expert advisors. Interactive Brokers and Oanda both offer negative balance protection and trailing stops.
Oanda is better than Interactive Brokers for real stock trading features, given that Oanda has no minimum trade size on stocks (against Interactive Brokers' US$1). Both Interactive Brokers and Oanda offer trailing stops and tier-1 liquidity providers.
| Section score | Interactive Brokers 75 -21 85 -7 | Oanda 96 Best 92 Best |
|---|---|---|
| Trade execution | ||
| Broker type i | NDD | Agency |
| Average execution time i | ||
| Slippage occurrence i | ||
| 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 Interactive Brokers and at Oanda in Australia, and of who each one is meant for.Oanda is better than Interactive Brokers for CFD/FX account types, because Oanda offers a corporate account, which Interactive Brokers does not. Both Interactive Brokers and Oanda offer a demo account and a professional traders account.
Interactive Brokers is better than Oanda for real stock account types, because Interactive Brokers offers a stock investing account and a margin investing account, which Oanda does not. Both Interactive Brokers and Oanda offer a demo account and a retirement account.
| Section score | Interactive Brokers 41 -5 63 Best | Oanda 46 Best 34 -29 |
|---|---|---|
| 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 Interactive Brokers and with Oanda in Australia.Oanda is better than Interactive Brokers for account opening, because Oanda offers 9 account base currencies (against Interactive Brokers' 5), and offers debit cards, which Interactive Brokers does not. Neither Interactive Brokers nor Oanda requires a minimum deposit.
| Section score | Interactive Brokers 60 -15 60 -15 | Oanda 75 Best 75 Best |
|---|---|---|
| Minimum deposit i | US$0 | US$0 |
| Minimum withdrawal i | US$0 | US$0 |
| Wire transfers i | ||
| Credit cards i | ||
| Debit cards i | ||
| eWallets i | ||
| Local payment methods i | ||
| Account base currencies i | AUD, EUR, GBP, HKD, USD | AUD, CAD, CHF, EUR, GBP, HKD, JPY, SGD, USD |
| Deposit waiting time i | up to 1 business days | 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 Interactive Brokers and Oanda in Australia, in how it can be reached and how fast it answers.Interactive Brokers is better than Oanda for customer care, as Interactive Brokers offers customer support in 8 languages (against Oanda's 5), and has a website in 8 languages (against Oanda's 7). Both Interactive Brokers and Oanda offer phone support and live chat.
| Section score | Interactive Brokers 58 Best 58 Best | Oanda 51 -7 51 -7 |
|---|---|---|
| Number of languages supported i | 8 | 7 |
| Website languages i | German, English, French, Italian, Japanese, Russian, Spanish, Chinese | German, English, French, Italian, Russian, Spanish, Chinese |
| Website available in English i | ||
| Customer support languages i | German, English, French, Italian, Japanese, Russian, Spanish, 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 Interactive Brokers and Oanda provide to their clients in Australia.Interactive Brokers is better than Oanda for learning, because Interactive Brokers offers professional reports and daily market commentary, which Oanda does not. Both Interactive Brokers and Oanda offer education for advanced traders and webinars.
| Section score | Interactive Brokers 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 | ||
Interactive Brokers vs Oanda: which one should you choose?
Interactive Brokers
CFD/FX Choose Interactive Brokers if you want an online CFD broker with low trading costs and a wide choice of markets.
Stocks Choose Interactive Brokers if you want a stockbroker with bonds, funds 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 a forex brokerage service with the MetaTrader platforms and expert advisors.
Stocks Choose Oanda if you want a broker for securities investing with the MetaTrader platforms 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 Interactive Brokers or Oanda, each scored with the same data and method as this page.
