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OANDA vs IC Markets 2026

ForexBrokers.com

Written by ForexBrokers.com

February 05, 2025

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

Comparing commissions and fees, IC Markets comes out cheaper overall, while OANDA charges more in day‑to‑day trading costs. IC Markets earns 5/5 stars and ranks #5 of 63 brokers for Commissions & Fees, thanks to very low effective spreads and a low deposit requirement for its commission-based accounts. OANDA earns 4/5 stars and ranks #30 of 63; it isn’t a discount broker, but it does deliver automated execution across its account lineup.

OANDA’s pricing: the average spread on EUR/USD under its default (commission-free) pricing was 1.61 pips in July 2024. Its Core Pricing option lowers the spread but adds a commission of $5 per side per $100,000 traded (about $10 per round turn), with a $10,000 minimum deposit. Using OANDA’s own example, if the default spread is 1.6 pips and Core spread is 0.4 pips, the commission adds about 1 pip, bringing the all-in to roughly 1.4 pips—slightly better than default. OANDA also allows trading as small as 1 unit, offers volume-based rebates of $5–$17 per million in select regions, and publishes trailing average spreads (though not fixed-period averages), which can make direct comparisons tricky.

IC Markets’ pricing: three accounts are available—Standard (spread only), Raw Spread (MT4/MT5), and cTrader Raw Spread. The cTrader Raw Spread account charges $3.00 per side per 100,000 units ($6 round turn), while the MetaTrader Raw Spread is $3.50 per side ($7 round turn). IC Markets lists an average EUR/USD spread of 0.02 pips (Aug 2022); after adding commission, the all-in comes to about 0.62 pips on cTrader or 0.72 pips on MetaTrader. The commission-free Standard account averages about 0.62 pips on EUR/USD. IC Markets also offers active-trader discounts above 100 standard lots per month and supports multiple regulatory entities (EU, Australia, Seychelles), which can affect pricing.

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.

Featured Offers


Range of investments

Comparing OANDA vs IC Markets for range of investments: OANDA offers 4,172 tradeable symbols and 69 forex pairs, while IC Markets lists 3,583 symbols and 61 pairs. Both brokers provide forex trading either as CFDs or spot (availability can vary by region) and both support copy trading.

For assets beyond forex, OANDA lets you buy exchange-traded U.S. stocks directly (not CFDs), which IC Markets does not. Both allow access to exchange-traded shares on international markets. In crypto, OANDA supports both real (delivered) coins and cryptocurrency CFDs, whereas IC Markets offers crypto only via CFDs. Both earn 4.5/5 stars for Range of Investments from ForexBrokers.com, with OANDA ranked #20 and IC Markets #22 out of 63 brokers.

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 make it easy to get started, thanks to free demo (paper) accounts. Each offers a Windows desktop download and a web platform, plus support for MetaTrader 4 (MT4) and MetaTrader 5 (MT5). You can copy trade and place orders straight from charts with either broker, giving you flexible ways to test ideas and manage trades.

The key difference is that OANDA also has a proprietary, in-house platform, while IC Markets relies on third-party platforms. If you want a broker-designed experience alongside MetaTrader, OANDA has the edge; if you prefer sticking with MetaTrader, either will do. According to ForexBrokers.com, both earn 4 out of 5 stars for Trading Platforms and Tools, with OANDA ranked #16 out of 63 brokers and IC Markets close behind 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, with the essentials covered for active forex traders. Each app supports price alerts, 30 technical studies for charting, the ability to draw trendlines, and automatic saving of chart drawings. One notable limitation is that neither broker syncs watchlists between the mobile app and the web platform, so changes made in one place won’t appear in the other.

Where they differ is in quality ratings. OANDA’s mobile app earns 5 stars and ranks #7 out of 63 brokers in ForexBrokers.com’s Mobile Trading Apps category, while IC Markets earns 4 stars and ranks #22. If top-tier mobile usability and features matter most, OANDA has the edge. If you already trade with IC Markets, you’ll still find capable charting and alerts, but keep in mind the lack of watchlist syncing on both platforms.

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

When it comes to market research, both OANDA and IC Markets deliver the essentials traders look for. Each broker provides daily market commentary, real-time forex news from top sources like Bloomberg or Reuters, an economic calendar, sentiment tools that show long vs. short positioning, and popular chart pattern scanning via Autochartist. Neither broker includes TipRanks or Acuity Trading tools. One key difference: IC Markets also offers Trading Central, while OANDA does not.

In independent ratings, OANDA earns 5 stars for Research and ranks #4 out of 63 brokers on ForexBrokers.com, while IC Markets earns 4 stars and ranks #21. If overall research quality and ranking matter most, OANDA has the edge. If you specifically want Trading Central alongside Autochartist, IC Markets is the better fit.

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 deliver strong forex and CFD education for beginners. Each broker offers well over the minimum benchmark of 10 educational pieces, including articles, videos, and archived webinars. They both run live client webinars at least once a month and provide at least 10 beginner-focused videos that explain trading basics in plain language. As your skills grow, you’ll also find at least 10 advanced videos at each broker to help you move beyond the fundamentals.

When it comes to third-party recognition, OANDA is rated 5 stars for Education, while IC Markets earns 4 stars. However, in ForexBrokers.com’s Education rankings out of 63 brokers, IC Markets sits at #16 and OANDA at #18. For new traders comparing OANDA vs IC Markets, both are excellent choices for learning the ropes—OANDA edges ahead on star rating, while IC Markets places slightly higher in the category ranking.

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 SCA 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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