Written by ForexBrokers.com
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.
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 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
|
iFOREX
|
|---|---|---|
| Year Founded | 1996 | 1996 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
OANDA vs iFOREX on pricing: OANDA earns 4/5 stars for commissions and fees and ranks #35 out of 63 brokers at ForexBrokers.com, while iFOREX holds 3/5 stars and ranks #62 out of 63. OANDA’s forex trading costs are generally on the high side versus the cheapest brokers, but it offers two pricing paths and clear execution. By contrast, iFOREX does not publish average spread data, which makes head‑to‑head cost comparisons harder.
At OANDA, spreads are comparable to FOREX.com and FxPro, though minimums can be higher than firms that advertise sub‑pip spreads. An example: the average EUR/USD spread on OANDA’s standard (non‑core) pricing was 1.61 pips in July 2024. Its core pricing cuts the spread but adds a commission of $5 per side per $100,000 traded ($10 per round turn), requires a $10,000 minimum deposit, and can slightly lower the all‑in cost; for instance, 0.4 pips spread plus about 1 pip in commission equals roughly 1.4 pips versus 1.6 pips on the default plan. OANDA also allows very small trade sizes (down to 1 unit), offers Elite Trader rebates of $5–$17 per million in select regions (with perks like TradingView subscription reimbursements), and publishes trailing spread averages—though not fixed‑period averages—so precise comparisons can be tricky.
For iFOREX, average spread data is not available, so your actual cost depends on the live spreads you receive and any extra charges such as financing/swap, inactivity, or withdrawal fees. Given its 3/5 star score and #62/63 ranking in the Commissions and Fees category, iFOREX trails OANDA on pricing competitiveness and transparency. If you want optional commission-based pricing and very small position sizes, OANDA may be the better fit despite higher baseline spreads and the core account’s deposit requirement.
| Feature |
OANDA
|
iFOREX
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average spread (EUR/USD) - Standard account | 1.69 | N/A |
| All-in Cost EUR/USD - Active | 1.69 | N/A |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | |
| Skrill (Deposit/Withdraw) | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Comparing the range of investments, OANDA offers far more overall choice with 4,172 tradeable symbols versus iFOREX’s 750. Both brokers support forex as CFDs or spot contracts, but their lineups differ: iFOREX lists 88 currency pairs while OANDA has 69, and OANDA makes up the difference with broader access to other markets. According to ForexBrokers.com’s Range of Investments ratings, OANDA scores 4 stars and ranks 28th out of 63 brokers, while iFOREX scores 3.5 stars and ranks 42nd.
Access to assets is the key separator. OANDA lets clients buy exchange-traded securities on U.S. and international exchanges (think Apple in the U.S. or Vodafone in London) and also supports copy trading. For crypto, OANDA offers both actual coins and crypto CFDs. iFOREX does not offer exchange-traded shares or copy trading, and provides crypto only via CFDs. Both cover forex via CFDs or spot, but if you want share dealing or to own cryptocurrency outright, OANDA is the only one of the two that provides it.
| Feature |
OANDA
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4172 | 750 |
| Forex Pairs (Total) | 69 | 88 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | Yes | No |
| 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.
Comparing online brokers OANDA and iFOREX on trading platforms and tools, OANDA offers broader access and flexibility. It provides a free paper trading (demo) account, a proprietary platform, a Windows desktop download, and a web-based platform. iFOREX also has its own proprietary, browser-based platform but does not offer a Windows desktop app or a demo account. Both earned 4/5 for Platforms and Tools from ForexBrokers.com, yet OANDA ranked #15 out of 63 brokers while iFOREX ranked #55.
When it comes to tools, OANDA supports copy trading and includes MetaTrader 4 (MT4) and MetaTrader 5 (MT5), expanding choices beyond its in-house platform. iFOREX does not support copy trading and does not offer MT4 or MT5. Both brokers let you place trades directly from charts. If you want third-party platform options and a risk-free way to practice, OANDA is the stronger pick; if you prefer a simple, web-only setup built by the broker, iFOREX can work well.
| Feature |
OANDA
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| Charting - Indicators / Studies (Total) | 89 | 57 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
OANDA and iFOREX both offer mobile trading apps for iPhone and Android. If you want price alerts for forex or stocks, OANDA provides them, while iFOREX does not. Neither app syncs watchlists with your online account, so changes you make on one device won’t automatically appear on the other.
For charts, the OANDA app includes 30 technical studies, lets you draw trendlines, and auto-saves your drawings. iFOREX does not support trendline drawing or auto-saving, and the number of available studies isn’t specified. According to ForexBrokers.com, OANDA’s mobile app earns 5 stars and ranks #7 out of 63 brokers, while iFOREX gets 4 stars and ranks #56. If alerts and deeper charting tools matter to you, OANDA stands out; if you just need a basic app on iOS or Android, iFOREX covers the essentials.
| Feature |
OANDA
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | No |
| Mobile Watchlists - Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Trendlines Autosave | Yes | No |
Dive deeper: Best Forex Trading Apps.
Comparing OANDA vs iFOREX for market research, both brokers deliver daily market commentary, a sentiment tool that shows the ratio of long vs short positions, and an economic calendar to track key events. OANDA stands out for streaming forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones, plus Autochartist-powered technical tools. iFOREX does not provide premium wire news, but it does include Trading Central analytics, which OANDA does not. OANDA also does not include TipRanks or Acuity Trading tools.
For overall research quality, the gap is clear: OANDA is rated 5 stars and ranks #4 out of 63 brokers for Research on ForexBrokers.com, while iFOREX holds 3.5 stars and ranks #49. If you value integrated news and Autochartist, OANDA is the stronger choice; if you prefer Trading Central analysis, iFOREX may appeal. Both, however, cover the essentials with daily insights, sentiment data, and an event calendar.
| Feature |
OANDA
|
iFOREX
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central | No | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | No | |
| Acuity Trading | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Comparing education for beginners at OANDA and iFOREX, both brokers offer at least 10 beginner-friendly trading videos that explain core forex and CFD topics in simple terms. OANDA stands out by also running online client webinars at least once a month, giving new traders a chance to learn live and ask questions, while iFOREX does not host monthly webinars. For those planning to grow beyond the basics, OANDA also provides 10+ advanced trading videos, whereas iFOREX does not meet that advanced-video threshold.
These differences show up in independent ratings: OANDA earns 5 stars for Education and ranks #19 out of 63 brokers at ForexBrokers.com, while iFOREX holds 3.5 stars and ranks #53. If you want live sessions plus a video library that can carry you from beginner to more advanced topics, OANDA is the stronger choice; if you mainly need beginner videos without live webinars, iFOREX can still get you started.
| Feature |
OANDA
|
iFOREX
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
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 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
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iFOREX
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| Trust Score | 93 | 75 |
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OANDA vs iFOREX: OANDA supports both buying actual (delivered) cryptocurrency and trading cryptocurrency CFDs, whereas iFOREX provides cryptocurrency CFDs only and does not offer delivered crypto.
OANDA vs iFOREX: OANDA supports ACH/SEPA transfers, PayPal, Skrill, and bank wire deposits/withdrawals, whereas iFOREX does not support ACH/SEPA (other payment methods not specified).
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 | iFOREX | |
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| Trust Score | 93 | 75 | |
| Winner | check_circle | ||
| Review | OANDA Review |
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| Regulation | OANDA | iFOREX | |
|---|---|---|---|
| Trust Score | 93 | 75 | |
| Year Founded | 1996 | 1996 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | OANDA | iFOREX | |
|---|---|---|---|
| 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) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| 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 | iFOREX | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | OANDA | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 4172 | 750 | |
| Forex Pairs (Total) | 69 | 88 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | Yes | No | |
| 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 | iFOREX | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.69 | N/A | |
| All-in Cost EUR/USD - Active | 1.69 | N/A | |
| Inactivity Fee | Yes | No | |
| Order execution: Agency | No | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | OANDA | iFOREX | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | ||
| Skrill (Deposit/Withdraw) | Yes | ||
| Bank Wire (Deposit/Withdraw) | Yes | ||
| Non-wire bank transfer | Yes | No |
| Trading Platforms | OANDA | iFOREX | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No |
| Trading Tools | OANDA | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Price Alerts | Yes | No | |
| Charting - Indicators / Studies (Total) | 89 | 57 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | OANDA | iFOREX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | No | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Trendlines Autosave | Yes | No | |
| Mobile Research - Economic Calendar | Yes | No |
| Research | OANDA | iFOREX | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central | No | Yes | |
| TipRanks | No | ||
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | iFOREX | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | OANDA | iFOREX | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | OANDA Review |
| Overall | OANDA | iFOREX | |
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| Trust Score | 93 | 75 | |
| Winner | check_circle | ||
| Review | OANDA Review |
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