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OANDA vs iFOREX 2025

ForexBrokers.com

Written by ForexBrokers.com

February 05, 2025

In this head to head comparison of OANDA vs iFOREX, 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: 93
  • Tradeable Symbols (Total): 3928 info
iFOREX
3.5/5 Stars Overall
  • Minimum Deposit: $100
  • Trust Score: 75
  • Tradeable Symbols (Total): 750

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 iFOREX both stepped into the online trading world in 1996. Neither of these brokers is publicly traded or operates as a bank. However, if you're looking for a highly trusted broker, their regulatory standing varies significantly. OANDA boasts an impressive seven Tier-1 licenses, which are the top-tier regulatory approvals, earning it a commendable Trust Score of 93 out of 99, according to ForexBrokers.com. This places OANDA in the highly trusted category, making it a strong contender for those emphasizing regulation.

iFOREX, on the other hand, holds just one Tier-1 license and carries a Trust Score of 75 out of 99. This score places it in the average risk category, reflecting a different level of regulatory approval compared to OANDA. While both brokers emerged at the same time and share some fundamental characteristics, their regulatory credentials and trust ratings reveal clear distinctions in their levels of reliability according to market standards.

Feature OANDA logoOANDA
iFOREX logoiFOREX
Year Founded info 1996 1996
Publicly Traded (Listed) info No No
Bank info No No
Tier-1 Licenses info 7 1
Tier-2 Licenses info 0 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 1 1

Fees

When it comes to comparing OANDA and iFOREX on commissions and fees, OANDA emerges with a stronger reputation but also a more complex fee structure. OANDA is known for its high forex trading costs, with spreads that aren't the most competitive in the market. Their average spread for the EUR/USD pair, for example, was noted at 1.61 pips in mid-2024, which is relatively high compared to industry leaders. However, OANDA offers automated execution for its trades, offering a smoother trading experience for its users. It is rated 4 stars out of 5 for commissions and fees and is ranked #34 out of 63 brokers by ForexBrokers.com.

OANDA provides core pricing options, which feature lower spreads, but this comes at a cost of $5 per $100,000 worth of currency traded, equating to roughly $10 for a round-turn standard lot. This requires a $10,000 minimum deposit. Despite the additional commission, your total trading cost might be slightly reduced compared to default pricing. Micro lot trading is possible with OANDA, allowing trades as small as 1 unit, which significantly lowers the barrier for entry for casual traders. Lastly, OANDA rewards high-volume traders through its Elite Trader program, offering rebates and subscription reimbursements.

In contrast, iFOREX doesn’t provide detailed average spread data, making it harder to gauge the firm's overall cost competitiveness. This lack of transparency could be a consideration for potential clients looking to manage trading expenses. Rated 3 stars out of 5, iFOREX ranks lower at #61 out of 63 brokers according to ForexBrokers.com’s Commissions and Fees category, indicating higher trading costs or less favorable terms compared to OANDA. Therefore, traders looking for detailed cost information and strategic pricing might find OANDA more appealing, despite the relatively high fees.

Feature OANDA logoOANDA
iFOREX logoiFOREX
Minimum Deposit info $0 $100
Average Spread EUR/USD - Standard info 1.61 info N/A info
All-in Cost EUR/USD - Active info 1.61 info N/A info
Active Trader or VIP Discounts info Yes info No
ACH or SEPA Transfers info Yes info No
PayPal (Deposit/Withdraw) info Yes info Yes
Skrill (Deposit/Withdraw) info Yes info Yes
Visa/Mastercard (Credit/Debit) info Yes info Yes
Bank Wire (Deposit/Withdraw) info Yes Yes

Dive deeper: Best Low Spread Forex Brokers.

Featured Offers


Range of investments

When comparing the investment offerings of OANDA and iFOREX, both platforms provide forex trading through CFDs or spot contracts. OANDA boasts 3,928 tradeable symbols, while iFOREX offers a smaller selection with 750 symbols. For forex enthusiasts, OANDA enables trading with 68 different pairs, whereas iFOREX slightly edges ahead with 88 pairs available. Neither broker provides direct access to purchase exchange-traded securities on U.S. or international exchanges. However, when it comes to cryptocurrency, OANDA offers the flexibility to purchase both actual cryptocurrencies and derivatives, while iFOREX only provides options for crypto derivatives.

In terms of additional features, OANDA distinguishes itself by offering copy trading, a feature not available with iFOREX. These differences in offerings reflect in their ratings; OANDA holds a four-star rating for its range of investments, compared to iFOREX's 3.5 stars. Based on data from ForexBrokers.com, OANDA ranks 27th among 63 brokers for this category, outperforming iFOREX, which stands at 41st place. Overall, OANDA's broad range of symbols and diverse cryptocurrency options present a more comprehensive trading portfolio compared to iFOREX.

Feature OANDA logoOANDA
iFOREX logoiFOREX
Forex Trading (Spot or CFDs) info Yes info Yes
Tradeable Symbols (Total) info 3928 info 750
Forex Pairs (Total) info 68 88
U.S. Stock Trading (Non CFD) info No No
Int'l Stock Trading (Non CFD) info No No
Social Trading / Copy Trading info Yes info No
Cryptocurrency (Physical) info Yes No
Cryptocurrency (Derivative) 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

When comparing OANDA and iFOREX, both platforms stand out for different reasons. OANDA offers a comprehensive trading experience with its proprietary platform and MetaTrader 4 (MT4) and MetaTrader 5 (MT5) integration, ideal for traders seeking diverse options. Meanwhile, iFOREX provides its own proprietary web-based platform, but lacks desktop download capability and does not support MT4 or MT5. OANDA allows simulated trading through a free virtual demo account, a feature absent in iFOREX. Both platforms facilitate trading directly from stock charts, but OANDA also shines in copy trading, which iFOREX does not offer.

Additionally, OANDA surpasses iFOREX with a broader selection of drawing tools—431 compared to iFOREX's 25—enhancing the charting experience. While iFOREX offers more fields for watch lists, OANDA's versatility and additional features contribute to its higher ranking—#15 compared to iFOREX's #54 according to ForexBrokers.com. Both platforms boast a four-star rating for their trading platforms and tools, signifying their effectiveness in addressing traders' needs. Overall, OANDA appears the suitable choice for those requiring advanced tools and flexibility, while iFOREX caters to users who prioritize straightforward, web-based access.

Feature OANDA logoOANDA
iFOREX logoiFOREX
Virtual Trading (Demo) info Yes No
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes No
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes info No
MetaTrader 4 (MT4) info Yes No
MetaTrader 5 (MT5) info Yes info No
DupliTrade info No No
ZuluTrade info No No
Charting - Indicators / Studies (Total) info 81 57
Charting - Drawing Tools (Total) info 431 25
Charting - Trade From Chart info Yes Yes
Watchlists - Total Fields info 6 9
View More

Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.

Forex trading apps

When comparing the mobile trading apps of OANDA and iFOREX, both platforms offer iPhone and Android apps, but their features vary significantly. OANDA stands out with its ability to provide stock or forex price alerts, a feature not available with iFOREX. Although neither platform supports watchlist symbol syncing, OANDA compensates with a wider range of technical studies, numbering 30, enhancing chart analysis capabilities. In contrast, iFOREX does not offer any technical studies. OANDA's app also supports drawing trendlines, viewing multiple time frames, and auto-saving chart drawings, offering a more comprehensive experience for traders. iFOREX, however, lacks these functionalities. Additionally, OANDA allows the creation of watchlists with real-time quotes, a feature missing in the iFOREX app.

In terms of user ratings, OANDA's mobile trading app shines with a perfect 5-star rating, compared to the 4-star rating received by iFOREX. This difference in user satisfaction is further reflected in their rankings by ForexBrokers.com, where OANDA holds an impressive 7th place out of 63 brokers, while iFOREX is ranked at 55. These distinctions underscore OANDA’s superior offering in terms of features and user experience, making it the more compelling choice for mobile trading enthusiasts. Overall, users seeking a more feature-rich and user-friendly mobile trading experience are likely to prefer OANDA over iFOREX.

Feature OANDA logoOANDA
iFOREX logoiFOREX
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes No
Watchlist Syncing info No No
Mobile Charting - Indicators / Studies info 30 N/A
Mobile Charting - Draw Trendlines info Yes No
Mobile Charting - Multiple Time Frames info Yes No
Mobile Charting - Drawings Autosave info Yes No
Mobile Watchlist info Yes No

Dive deeper: Best Forex Trading Apps.

Market research

When it comes to market research, OANDA and iFOREX both provide traders with daily market commentary and access to economic calendars that highlight global news events. However, they differ significantly in the range and quality of research tools they offer. OANDA excels by including forex news from top-tier sources such as Bloomberg and Reuters, which iFOREX does not provide. Additionally, OANDA incorporates technical analysis tools from Autochartist, enhancing its research offerings. On the other hand, iFOREX stands out with tools from Trading Central, providing unique technical analytics not available with OANDA.

Both brokers offer sentiment-based trading tools, allowing traders to see the ratio of long or short positions across various instruments. However, neither OANDA nor iFOREX includes research tools from TipRanks or Acuity Trading. In terms of overall research quality, OANDA is more highly rated, receiving a 5-star research rating and ranking 5th out of 63 brokers by ForexBrokers.com. Meanwhile, iFOREX is rated at 3.5 stars and stands at the 48th position. This indicates that while both have solid offerings, OANDA's broader range of high-quality research tools places it ahead of iFOREX in this comparison.

Feature OANDA logoOANDA
iFOREX logoiFOREX
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes No
Autochartist info Yes No
Trading Central (Recognia) info No Yes
Social Sentiment - Currency Pairs info Yes Yes
TipRanks info No No
Signal Centre (Acuity Trading) info No No
Economic Calendar info Yes Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

When it comes to educational resources for beginners, OANDA provides a more extensive offering compared to iFOREX. OANDA stands out by delivering a variety of over 10 educational materials that focus on Forex and CFDs, including articles, videos, and archived webinars. Additionally, OANDA hosts regular online webinars for clients and maintains a searchable archive of these sessions. This commitment is complemented by both beginner and advanced trading videos, ensuring learners of all levels have access to the information they need. Furthermore, OANDA offers an investor dictionary, helping traders understand over 50 essential investing terms.

On the other hand, iFOREX's educational resources are notably less comprehensive. Although iFOREX does provide beginner videos on trading topics, they fall short in offering the breadth of educational content that OANDA does. The lack of regular client webinars and an archive, along with the absence of a detailed investor dictionary and fewer advanced video resources, make learning for beginners a bit more challenging. This difference in educational material is reflected in their ratings: OANDA shines with a 5-star rating and ranks 22nd in education by ForexBrokers.com, while iFOREX is rated at 3.5 stars and ranks 53rd.

Feature OANDA logoOANDA
iFOREX logoiFOREX
Education (Forex or CFDs) info Yes No
Client Webinars info Yes No
Client Webinars (Archived) info Yes No
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes No
Investor Dictionary (Glossary) info Yes No

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 iFOREX. OANDA finished with an overall rank of #12, while iFOREX finished with an overall rank of #52.

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
iFOREX logoiFOREX
Overall Rating info 4.5/5 Stars 3.5/5 Stars
Trust Score info 93 75
Range of Investments 4/5 Stars 3.5/5 Stars
Commissions & Fees 4/5 Stars 3/5 Stars
Platforms & Tools 4/5 Stars 4/5 Stars
Research 5/5 Stars 3.5/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Education 4/5 Stars 3/5 Stars

FAQs

Can you trade cryptocurrency with OANDA or iFOREX?

OANDA enables users to purchase actual delivered cryptocurrency and offers cryptocurrency derivatives, whereas iFOREX only provides the option to trade cryptocurrency derivatives, not the actual cryptocurrency.

What funding options does each broker offer?

OANDA distinguishes itself from iFOREX by offering ACH and SEPA transfers for depositing and withdrawing funds, while both brokers support PayPal, Skrill, Visa or Mastercard, and bank wire options.




announcementPlease 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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Compare

0 of 5
Overall Rating OANDA iFOREX
Overall Rating info 4.5/5 Stars 3.5/5 Stars
Commissions & Fees 4/5 Stars 3/5 Stars
Range of Investments 4/5 Stars 3.5/5 Stars
Platforms & Tools 4/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 3.5/5 Stars
Education 4/5 Stars 3/5 Stars
Trust Score info 93 75
Winner check_circle
Review OANDA Review
Broker Screenshots OANDA iFOREX
Trading Platforms Gallery (click to expand) info
Mobile Trading Gallery (click to expand) info
Research Gallery (click to expand) info
Education Gallery (click to expand) info
Regulation OANDA iFOREX
Trust Score info 93 75
Year Founded info 1996 1996
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 1
Tier-2 Licenses info 0 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 1 1
Tier-1 Licenses (Highly Trusted) OANDA iFOREX
Australia (ASIC Authorised) info Yes No
Canada (CIRO Authorised) info Yes No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info Yes No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
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 iFOREX
Kenya (CMA Authorised) info No No
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA/Central Bank Authorised) info No No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
Investments OANDA iFOREX
Forex Trading (Spot or CFDs) info Yes info Yes
Tradeable Symbols (Total) info 3928 info 750
Forex Pairs (Total) info 68 88
U.S. Stock Trading (Non CFD) info No No
Int'l Stock Trading (Non CFD) info No No
Social Trading / Copy Trading info Yes info No
Cryptocurrency (Physical) info Yes No
Cryptocurrency (Derivative) 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 iFOREX
Average Spread EUR/USD - Standard info 1.61 info N/A info
All-in Cost EUR/USD - Active info 1.61 info N/A info
Active Trader or VIP Discounts info Yes info No
Inactivity Fee info Yes No
Execution: Agency Broker info No No
Execution: Market Maker info Yes Yes
Funding OANDA iFOREX
Minimum Deposit info $0 $100
PayPal (Deposit/Withdraw) info Yes info Yes
Skrill (Deposit/Withdraw) info Yes info Yes
Visa/Mastercard (Credit/Debit) info Yes info Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
ACH or SEPA Transfers info Yes info No
Trading Platforms OANDA iFOREX
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes No
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes info No
MetaTrader 4 (MT4) info Yes No
MetaTrader 5 (MT5) info Yes info No
cTrader info No No
DupliTrade info No No
ZuluTrade info No No
Trading Tools OANDA iFOREX
Virtual Trading (Demo) info Yes No
Alerts - Basic Fields info Yes No
Watchlists - Total Fields info 6 9
Charting - Indicators / Studies (Total) info 81 57
Charting - Drawing Tools (Total) info 431 25
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes No
Mobile Trading OANDA iFOREX
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes No
Mobile Watchlist info Yes No
Watchlist Syncing info No No
Mobile Charting - Indicators / Studies info 30 N/A
Mobile Charting - Draw Trendlines info Yes No
Mobile Charting - Multiple Time Frames info Yes No
Mobile Charting - Drawings Autosave info Yes No
Mobile Economic Calendar info Yes No
Research OANDA iFOREX
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes No
Autochartist info Yes No
Trading Central (Recognia) info No Yes
TipRanks info No No
Social Sentiment - Currency Pairs info Yes Yes
Economic Calendar info Yes Yes
Education OANDA iFOREX
Education (Forex or CFDs) info Yes No
Client Webinars info Yes No
Client Webinars (Archived) info Yes No
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes No
Investor Dictionary (Glossary) info Yes No
Major Forex Pairs OANDA iFOREX
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD info Yes Yes
Review OANDA Review
Overall OANDA iFOREX
Overall Rating info 4.5/5 Stars 3.5/5 Stars
Commissions & Fees 4/5 Stars 3/5 Stars
Range of Investments 4/5 Stars 3.5/5 Stars
Platforms & Tools 4/5 Stars 4/5 Stars
Mobile Trading 5/5 Stars 4/5 Stars
Research 5/5 Stars 3.5/5 Stars
Education 4/5 Stars 3/5 Stars
Trust Score info 93 75
Winner check_circle
Review OANDA Review
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