Written by ForexBrokers.com
In this head to head comparison of OANDA vs IFC 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 IFC Markets are both well-regarded online brokers, but they have different backgrounds and regulatory standings. Founded in 1996, OANDA has established itself with a high Trust Score of 93 out of 99, placing it in the category of highly trusted brokers. OANDA boasts seven Tier-1 licenses, indicating strong regulatory oversight. Meanwhile, IFC Markets, founded a decade later in 2006, is rated with a Trust Score of 73, marking it as average risk in terms of trust, and holds one Tier-2 license, with no Tier-1 licenses to enhance its regulatory profile.
Both OANDA and IFC Markets are privately owned and are not publicly traded on any stock exchange. Additionally, neither broker operates as a bank. These differences in regulatory compliance and history can be crucial factors for traders when selecting a platform that aligns with their safety and security expectations.
| Feature |
OANDA
|
IFC Markets
|
|---|---|---|
| Year Founded | 1996 | 2006 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 0 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing the commissions and fees of OANDA and IFC Markets, both brokers offer a range of options, making them appealing to different trader preferences. OANDA is known for its high forex trading costs, due to high effective spreads on its default and core pricing models. OANDA's spreads are comparable to giants like FOREX.com and FxPro, yet the minimum spread often slightly exceeds those offering sub-pip spreads. However, with the core pricing model, despite the inclusion of a $10 commission per round turn on a $100,000 currency standard lot, the total cost becomes more competitive at approximately 1.4 pips for the EUR/USD pair. For commissions and fees, OANDA is rated 4 out of 5 stars and ranks #34 out of 63 brokers according to ForexBrokers.com.
On the other hand, IFC Markets presents a slightly less aggressive cost structure, with the average spread for the EUR/USD pair being 1.44, slightly higher than the industry average of 1.08. However, their ECN account offers a more appealing rate for active traders, with effective spreads of 1.1 pips when considering the 0.005% commission on both sides of trades. Unlike OANDA, IFC Markets does not impose inactivity fees and provides active trader discounts, adding to its cost-effectiveness in certain scenarios. IFC Markets matches OANDA with a 4-star rating for commissions and fees, although it is ranked slightly lower at #39 in the same category.
Overall, while both OANDA and IFC Markets offer a variety of trading conditions to suit different needs, they each have unique advantages and limitations. OANDA's strength lies in its automated execution and transparency in pricing, alongside offering small micro lot trades, while IFC Markets shines with its absence of inactivity fees and favorable terms for active traders. Depending on specific trading requirements, either broker may offer the optimal cost structure for individual trading strategies.
| Feature |
OANDA
|
IFC Markets
|
|---|---|---|
| Minimum Deposit | $0 | $1 |
| Average Spread EUR/USD - Standard | 1.61 | 1.44 |
| All-in Cost EUR/USD - Active | 1.61 | 1.1 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | No |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the range of investments offered by OANDA and IFC Markets, it's clear there are key differences that might influence your choice. OANDA stands out by providing access to 3,928 tradeable symbols, including 68 forex pairs. They offer both forex CFDs and spot contracts, ensuring flexibility for forex trading enthusiasts. Additionally, OANDA caters to cryptocurrency enthusiasts with the ability to buy actual cryptocurrencies, in addition to derivatives. Although OANDA does not offer exchange-traded securities on U.S. or international exchanges, it compensates with diverse forex and cryptocurrency options, earning it a 4-star rating in the Range of Investments category.
On the other hand, IFC Markets offers 630 tradeable symbols with 49 forex pairs, also providing both forex CFDs and spot contracts. While it doesn't offer the option to purchase actual cryptocurrencies, traders can still engage in cryptocurrency derivatives. One advantage IFC Markets holds is the offering of exchange-traded securities on international exchanges, such as shares from the London Stock Exchange. However, it ranks slightly lower with a 3.5-star rating for its range of investments. Despite these differences, both OANDA and IFC Markets offer copy trading options for those looking to emulate successful trading strategies.
| Feature |
OANDA
|
IFC Markets
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3928 | 630 |
| Forex Pairs (Total) | 68 | 49 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | No |
| Cryptocurrency (Derivative) | 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). |
Dive deeper: Best Copy Trading Platforms.
Both OANDA and IFC Markets provide comprehensive trading platforms that cater to diverse trading needs. They each offer a proprietary platform, ensuring a custom-built user experience, alongside compatibility with MetaTrader 4 and 5, serving traders who prefer these popular platforms. Additionally, both brokers offer simulated trading with free virtual demo accounts, allowing users to hone their skills before entering the real market. For accessibility, web-based platforms and Windows desktop downloads are available from both brokers, making it easy to access your trading setup from various devices. Traders also have access to copy trading on both platforms, though neither supports DupliTrade or ZuluTrade.
When it comes to tools, OANDA stands out with an impressive 431 drawing tools for charting compared to IFC Markets' 15, offering a more extensive range for technical analysis. Both platforms allow direct trading from stock charts, providing a seamless experience for quick trades. OANDA offers six columns for watch lists against IFC Markets' seven, accommodating various preferences in monitoring market movements. Both brokers receive a 4-star rating for Trading Platforms and Tools. However, OANDA ranks higher, placed 15th out of 63 brokers on ForexBrokers.com, while IFC Markets is ranked 36th, highlighting a marginal edge for OANDA in this category.
| Feature |
OANDA
|
IFC Markets
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 81 | 30 |
| Charting - Drawing Tools (Total) | 431 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both OANDA and IFC Markets cater to users on the go with apps available for iPhone and Android devices. They each provide features like stock and forex price alerts, the ability to draw trendlines on charts, and access to multiple time frames for thorough analysis. Chart enthusiasts will be pleased with the 30 technical studies available on both apps, ensuring ample tools for accurate market assessment. Real-time quotes can be tracked through custom watchlists on both platforms, though it's worth noting that only IFC Markets offers watchlist symbol syncing with the online account.
While both OANDA and IFC Markets offer solid mobile trading platforms, there are some distinctions in their reception among users. OANDA's app shines with a five-star rating for mobile trading, placing it at #7 out of 63 brokers according to ForexBrokers.com. In contrast, IFC Markets lands at #52 with a four-star rating. These ratings might influence the decision for traders who are looking for the top-tier performance of an app and prefer integration across multiple devices. Ultimately, both platforms deliver dependable mobile solutions for trading enthusiasts, though OANDA may have the edge for those prioritizing app recognition and high user satisfaction.
| Feature |
OANDA
|
IFC Markets
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research features of online brokerages OANDA and IFC Markets, there are a few key differences to consider. Both platforms provide daily market commentary and offer insightful economic calendars that display important global news events. However, OANDA stands out by offering forex news from reputable sources such as Bloomberg and Reuters, whereas IFC Markets does not feature news from these top-tier providers. Additionally, OANDA includes technical analysis tools from Autochartist, a resource not available through IFC Markets.
Both OANDA and IFC Markets offer sentiment-based trading tools, providing insights into market positions across various currency pairs. However, neither broker incorporates research tools from companies like Trading Central or Acuity Trading. OANDA's comprehensive market research capabilities have earned it a high Research category rating of 5 stars, ranking it 5th out of 63 brokers according to ForexBrokers.com. In contrast, IFC Markets holds a lower rating of 3.5 stars and is ranked 40th in the same category.
| Feature |
OANDA
|
IFC Markets
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, OANDA and IFC Markets both offer essential tools to help newcomers understand forex and CFDs. Both brokers provide a minimum of 10 educational materials, such as articles and videos, dedicated to these topics, making them reliable sources for learning. However, OANDA takes it a step further by offering monthly online educational webinars for clients, while IFC Markets does not have this feature. Additionally, OANDA provides a searchable archive of previously recorded webinars, giving learners a chance to catch up on past sessions, a feature absent in IFC Markets’ offerings.
Both OANDA and IFC Markets deliver at least 10 beginner-focused educational videos and a similar number of advanced tutorials for experienced traders. They also offer investors a dictionary with definitions of over 50 investing terms. Despite these similarities, OANDA stands out with a higher education rating of five stars compared to IFC Markets' 3.5 stars. In the ForexBrokers.com ranking, OANDA holds the 22nd spot out of 63 brokers for educational resources, while IFC Markets is ranked 30th, further highlighting OANDA’s stronger educational offerings for traders starting in the market.
| Feature |
OANDA
|
IFC Markets
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | 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 IFC Markets. OANDA finished with an overall rank of #12, while IFC Markets finished with an overall rank of #45.
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
|
IFC Markets
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 93 | 73 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
When comparing OANDA and IFC Markets for cryptocurrency trading, OANDA provides the ability to buy both actual cryptocurrencies and derivatives, while IFC Markets only offers cryptocurrency derivatives.
OANDA provides a variety of options for depositing and withdrawing funds, including ACH or SEPA transfers, PayPal, Skrill, Visa or Mastercard, and bank wires, whereas IFC Markets supports Visa or Mastercard and bank wires but lacks ACH or SEPA transfers, PayPal, and Skrill as options.
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | OANDA | IFC Markets | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 93 | 73 | |
| Winner | check_circle | ||
| Review | OANDA Review |
| Broker Screenshots | OANDA | IFC Markets | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
| ||
| Mobile Trading Gallery (click to expand) |
| ||
| Research Gallery (click to expand) |
| ||
| Education Gallery (click to expand) |
|
| Regulation | OANDA | IFC Markets | |
|---|---|---|---|
| Trust Score | 93 | 73 | |
| Year Founded | 1996 | 2006 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 7 | 0 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | OANDA | IFC Markets | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | No | No | |
| 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 | No |
| Tier-2 Licenses (Trusted) | OANDA | IFC Markets | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | OANDA | IFC Markets | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3928 | 630 | |
| Forex Pairs (Total) | 68 | 49 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | No | |
| Cryptocurrency (Derivative) | 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). |
| Cost | OANDA | IFC Markets | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.61 | 1.44 | |
| All-in Cost EUR/USD - Active | 1.61 | 1.1 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | OANDA | IFC Markets | |
|---|---|---|---|
| Minimum Deposit | $0 | $1 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | No | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | OANDA | IFC Markets | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | OANDA | IFC Markets | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 81 | 30 | |
| Charting - Drawing Tools (Total) | 431 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | IFC Markets | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | OANDA | IFC Markets | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | IFC Markets | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | OANDA | IFC Markets | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | OANDA Review |
| Overall | OANDA | IFC Markets | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 93 | 73 | |
| Winner | check_circle | ||
| Review | OANDA Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill