Written by ForexBrokers.com
In this head to head comparison of IG vs OANDA, 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.
IG vs OANDA: IG was founded in 1974 and is publicly traded; OANDA began in 1996 and is privately held. IG also operates a bank, while OANDA is not a bank. On ForexBrokers.com’s Trust Score, IG earns 99/99 and OANDA scores 92/99; both fall in the 90–99 range, which is considered highly trusted (80–89 trusted, 70–79 average risk, 60–69 high risk, under 59 not trusted).
Regulation details: IG holds 8 Tier-1 licenses (highly trusted) and 2 Tier-2 licenses (trusted). OANDA holds 7 Tier-1 licenses and no Tier-2 licenses. In practice, more Tier-1 approvals show a broker is overseen by more top-tier regulators across major regions, which can help with client protections and transparency.
| Feature |
IG
|
OANDA
|
|---|---|---|
| Year Founded | 1974 | 1996 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 7 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
IG is the stronger value on trading costs, earning 5 stars and a #7 ranking (out of 63) for Commissions and Fees, while OANDA earns 4 stars and ranks #30. IG appeals to cost‑conscious active traders with tighter typical spreads and multiple pricing routes, especially via its Forex Direct (DMA) account. OANDA is simple to use and offers flexible trade sizes, but its average spreads tend to be higher unless you opt into its commission-based Core pricing.
IG’s Forex Direct (DMA) averaged about 0.62 pips on EUR/USD in July 2023; depending on your commission tier, the all‑in cost can land near 0.82 pips. Its spread‑only CFD account averaged 0.69 pips during peak hours (0.98 pips across all sessions globally; 1.18 pips for IG US on EUR/USD). High‑volume traders can qualify for 10%–20% spread rebates on the CFD account (professional status required in the EU). The DMA account has a £1,000 minimum and uses tiered commissions that can fall to about $10 per million each way ($20 round trip) at very high volumes, helping frequent traders push costs even lower.
OANDA’s default (commission‑free) pricing is pricier by comparison, with an average EUR/USD spread of 1.61 pips in July 2024. Its Core pricing reduces the spread (example: about 0.4 pips) but adds a $5 per 100k commission each way (about $10 per round trip), for an example all‑in cost near 1.4 pips—slightly better than its default pricing, though still above IG’s top tiers. OANDA stands out for flexibility: you can trade as small as 1 unit, and eligible high‑volume clients can earn Elite Trader rebates of $5–$17 per million. However, Core pricing requires a $10,000 minimum deposit, and OANDA’s published spread data is a trailing average rather than fixed monthly snapshots, which can make direct comparisons harder.
| Feature |
IG
|
OANDA
|
|---|---|---|
| Minimum Deposit | £1 | $0 |
| Average spread (EUR/USD) - Standard account | 0.91 | 1.68 |
| All-in Cost EUR/USD - Active | 0.82 | 1.69 |
| Non-wire bank transfer | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
In this IG vs OANDA comparison of the range of investments, IG offers 19,537 tradeable symbols, dwarfing OANDA’s 4,172. Forex traders also get more choice at IG with 97 currency pairs versus 69 at OANDA. Both online brokers support forex trading as CFDs or spot. This breadth helps explain why ForexBrokers.com rates IG 5 stars for Range of Investments and ranks it #4 of 63, while OANDA earns 4.5 stars and ranks #20.
Asset types are well covered at both brokers: you can buy exchange-traded stocks (not CFDs) on U.S. markets and on international exchanges, and you can access cryptocurrency either as actual coins (not CFDs) or through crypto CFDs. A notable difference is copy trading—available at OANDA but not at IG. Choose IG if a bigger market selection is your priority; pick OANDA if you value copy trading alongside a wide, though smaller, product lineup.
| Feature |
IG
|
OANDA
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 4172 |
| Forex Pairs (Total) | 97 | 69 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | No | Yes |
| Cryptocurrency (Underlying) | Yes | Yes |
| 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.
IG and OANDA both cover the key platform needs: free demo accounts for simulated trading, proprietary (in-house) platforms, Windows desktop downloads, and web-based platforms. Each also supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), and you can place trades directly from charts for quicker decision-making.
The main difference is copy trading: OANDA offers it, while IG does not. For platform quality, ForexBrokers.com rates IG 5 stars and ranks it #1 out of 63 brokers in Trading Platforms and Tools, while OANDA earns 4 stars and ranks #16. Both provide charting with technical indicators and customizable watch lists, but if top-rated platform tools are your priority, IG leads; if you want built-in copy trading alongside MT4/MT5 access, OANDA stands out.
| Feature |
IG
|
OANDA
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 33 | 89 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
IG and OANDA both offer mobile trading apps for iPhone and Android, complete with price alerts and high-quality charting. Each earns a 5-star rating for mobile. If rankings matter to you, IG holds the top spot (#1 out of 63 brokers) on ForexBrokers.com for Mobile Trading Apps, while OANDA is also highly placed at #7.
For features, IG has an edge in a few areas: it syncs watchlists between the mobile app and your online account, while OANDA does not. IG also includes 33 technical studies compared to OANDA’s 30. Both apps let you draw trendlines and automatically save your chart drawings. If you want seamless watchlist syncing and a few extra indicators, IG is a strong choice; if you’re content with core features and top-tier ratings, OANDA fits the bill.
| Feature |
IG
|
OANDA
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 33 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
IG vs OANDA for market research: both brokers deliver daily market commentary, forex news from top-tier sources (such as Bloomberg, Reuters, and Dow Jones), Autochartist tools, sentiment indicators that show long/short positioning, and a global economic calendar. Each earns a 5-star Research rating. Among 63 brokers, ForexBrokers.com ranks IG #2 for Research and OANDA #4.
The key difference is third-party research depth. IG adds TipRanks and Acuity Trading’s Signal Centre, while OANDA does not. Neither broker offers Trading Central. If you want more analyst views and signal-style ideas, IG has the edge; if you mainly need daily commentary, quality news, and core technical tools, OANDA covers the essentials well.
| Feature |
IG
|
OANDA
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central | No | No |
| Client sentiment data | Yes | Yes |
| TipRanks | Yes | No |
| Acuity Trading | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
IG vs OANDA education for beginners: both brokers provide a large library of learning resources geared to forex and CFD trading. Each offers at least 10 beginner videos and at least 10 advanced videos, plus online educational webinars at least once a month. This gives new traders a clear path to learn through videos and live sessions at their own pace.
Both brokers earn 5 stars for Education. That said, IG holds a higher overall placement in the category—ranked #7 out of 63 brokers by ForexBrokers.com—while OANDA is ranked #18. If overall standing matters, IG has the edge; if you mainly want beginner-friendly videos and recurring webinars, both are strong choices.
| Feature |
IG
|
OANDA
|
|---|---|---|
| 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 IG is better than OANDA. IG finished with an overall rank of #1, while OANDA finished with an overall rank of #13.
IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.
| Feature |
IG
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OANDA
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 92 |
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IG vs OANDA: both online brokers let you buy actual (delivered) cryptocurrencies and trade cryptocurrency CFDs, offering flexible ways to access the crypto market.
IG vs OANDA: both brokers support ACH/SEPA transfers, PayPal, and bank wire deposits/withdrawals, while OANDA additionally offers Skrill (not available at IG); Visa/Mastercard availability is not specified for either.
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 | IG | OANDA | |
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| Trust Score | 99 | 92 | |
| Winner | check_circle | ||
| Review | IG Review | OANDA Review |
| Broker Screenshots | IG | OANDA | |
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| Regulation | IG | OANDA | |
|---|---|---|---|
| Trust Score | 99 | 92 | |
| Year Founded | 1974 | 1996 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 7 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | IG | OANDA | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | Yes | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (FSA Authorised) | Yes | Yes | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | ||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | Yes | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | IG | OANDA | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA, FSRA, or CMA Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | IG | OANDA | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 4172 | |
| Forex Pairs (Total) | 97 | 69 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | No | Yes | |
| Cryptocurrency (Underlying) | Yes | Yes | |
| 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 | IG | OANDA | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 0.91 | 1.68 | |
| All-in Cost EUR/USD - Active | 0.82 | 1.69 | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | Yes | No | |
| Order execution: Market Maker | Yes | Yes |
| Funding | IG | OANDA | |
|---|---|---|---|
| Minimum Deposit | £1 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | Yes | Yes |
| Trading Platforms | IG | OANDA | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No |
| Trading Tools | IG | OANDA | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 33 | 89 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | OANDA | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 33 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | IG | OANDA | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central | No | No | |
| TipRanks | Yes | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IG | OANDA | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | IG | OANDA | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | IG Review | OANDA Review |
| Overall | IG | OANDA | |
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| Trust Score | 99 | 92 | |
| Winner | check_circle | ||
| Review | IG Review | OANDA Review |
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