Written by ForexBrokers.com
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.
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.
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
|
IC Markets
|
|---|---|---|
| Year Founded | 1996 | 2007 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 3 |
When comparing commissions and fees, IC Markets is the clear lower-cost choice for most traders. IC Markets earns a 5-star rating and ranks #4 out of 36 brokers for Commissions and Fees, thanks to its tight spreads and low commissions on Raw Spread and cTrader Raw Spread accounts. Its Standard account is also commission-free, which can be appealing for beginners who want simple pricing. Active traders may also qualify for extra discounts.
OANDA, by contrast, is generally more expensive on trading costs, with higher spreads on its standard pricing and a core pricing option that still includes commission. OANDA earns 4 stars and ranks #32 out of 36 brokers for Commissions and Fees. Its core pricing can lower spreads, but the added commission means the total cost is only slightly better than the default plan in many cases. OANDA does stand out for very small trade sizes, transparent spread tracking, and rebate perks for high-volume traders.
In simple terms, IC Markets is usually better if your main goal is to keep trading fees low, while OANDA may suit traders who value flexible position sizes and easy-to-follow pricing more than the cheapest spreads. For commissions and fees alone, IC Markets offers the stronger overall deal.
| Feature |
OANDA
|
IC Markets
|
|---|---|---|
| Minimum Deposit | $0 | $200 |
| Average spread (EUR/USD) - Spread-only account | 1.68 | 0.8 |
| All-in Cost EUR/USD - Raw spread account | N/A | 0.72 |
| Non-wire bank transfer (Deposit/Withdraw) | Yes | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
OANDA and IC Markets both give traders access to forex as CFDs or spot contracts, along with copy trading and cryptocurrency CFDs. OANDA stands out for its wider mix of real-world investments, since it lets clients buy exchange-traded securities on both U.S. and international exchanges, and it also offers actual, delivered cryptocurrency. IC Markets does not offer exchange-traded securities or direct crypto purchases, so its range is more focused on leveraged trading products.
In terms of variety, IC Markets lists more tradeable symbols overall, with 7,435 compared with OANDA’s 4,172. OANDA, however, offers more forex pairs, with 68 versus IC Markets’ 61. Both brokers are rated 4.5 out of 5 for Range of Investments, but ForexBrokers.com places OANDA slightly higher at #20 out of 36, ahead of IC Markets at #22.
| Feature |
OANDA
|
IC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4172 | 7435 |
| Forex Pairs (Total) | 68 | 61 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | Yes | No |
| Cryptocurrency (CFDs) | Yes | 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.
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
|
IC Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 82 | 32 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
OANDA and IC Markets both offer mobile trading apps for iPhone and Android, along with price alerts for stocks or forex. Each app also lets you draw trendlines on charts and automatically saves those drawings, which is helpful if you switch between devices or return to a chart later. One area where both brokers fall short is watchlist syncing, since changes made in the mobile app do not sync with the online account.
For charting tools, OANDA has a small edge with 33 technical studies in its mobile app compared with 32 at IC Markets. That difference is minor, but OANDA also comes out ahead in overall mobile trading quality, earning 5 stars and a #7 ranking out of 36 brokers from ForexBrokers.com, while IC Markets holds 4 stars and ranks #22. For traders who want a slightly stronger mobile app experience, OANDA appears to be the better choice.
| Feature |
OANDA
|
IC Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | No |
| Mobile Charting - Indicators / Studies | 33 | 32 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, both OANDA and IC Markets give traders the basics they need, including daily market commentary, top-tier forex news from sources like Bloomberg and Reuters, sentiment tools that show long and short positioning, and economic calendars with upcoming global events. This means either broker can help traders stay on top of major news and market moves.
OANDA stands out more for research overall, offering Autochartist and Acuity Trading tools, while IC Markets leans on Trading Central and TipRanks instead. Based on ForexBrokers.com, OANDA earns a 5-star Research rating and ranks #4 out of 36 brokers, compared with IC Markets’ 4-star rating and #21 ranking, making OANDA the stronger choice for research-focused traders.
| Feature |
OANDA
|
IC Markets
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central | No | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | No | Yes |
| Acuity Trading | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
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
|
IC Markets
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
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 #14, 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
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IC Markets
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| Trust Score | 92 | 83 |
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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.
When comparing OANDA vs IC Markets for funding options, OANDA supports ACH/SEPA transfers, Skrill, and bank wires but not PayPal, while IC Markets offers PayPal, Skrill, and bank wires but does not support ACH/SEPA transfers.
Please note:
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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0 of 5| Overall Rating | OANDA | IC Markets | |
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| Trust Score | 92 | 83 | |
| Winner | check_circle | ||
| Review | OANDA Review | IC Markets Review |
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| Regulation | OANDA | IC Markets | |
|---|---|---|---|
| Trust Score | 92 | 83 | |
| Year Founded | 1996 | 2007 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 2 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 3 |
| Tier-1 Licenses (Highly Trusted) | OANDA | IC Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | OANDA | IC Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | OANDA | IC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 4172 | 7435 | |
| Forex Pairs (Total) | 68 | 61 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | Yes | No | |
| Cryptocurrency (CFDs) | Yes | 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) - Spread-only account | 1.68 | 0.8 | |
| All-in Cost EUR/USD - Raw spread account | N/A | 0.72 | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | OANDA | IC Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $200 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer (Deposit/Withdraw) | Yes | No |
| Trading Platforms | OANDA | IC Markets | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | Yes |
| Trading Tools | OANDA | IC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 82 | 32 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | IC Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlists - Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 33 | 32 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | OANDA | IC Markets | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central | No | Yes | |
| TipRanks | No | Yes | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | IC Markets | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | OANDA | IC Markets | |
|---|---|---|---|
| EUR/USD | Yes | Yes | |
| Review | OANDA Review | IC Markets Review |
| Overall | OANDA | IC Markets | |
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| Trust Score | 92 | 83 | |
| Winner | check_circle | ||
| Review | OANDA Review | IC Markets Review |
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