IG vs OANDA Review
By ForexBrokers.com / June 13th, 2019
Is IG Group better than OANDA? After scoring forex brokers on nearly 100 different variables, IG Group is better than OANDA. Regulated and trusted across the globe, IG offers traders an extensive list of tradable products, excellent trading and research tools, industry leading education, and competitive rates. This fantastic all-round experience makes IG our No. 1 overall broker in 2019.
To assess both of these forex brokers, we will begin with cost. Comparing two fx brokers on cost is not easy. First, not every broker publicizes their average spreads. And, for the brokers that do publish their data, the formulas used to calculate average spreads can vary. Furthermore, the currency pair you are trading can impact cost, as well as the execution policies of the broker. Dealing desk or no dealing desk? The list goes on and on. To make comparing cost easy, we have a star rating that takes everything into account. IG Group is a better option with a 4.50 star rating over OANDA's 4.00 star rating.
Next to commissions and fees, regulation and currency availability are important to take into consideration. You want to trust and have confidence the forex broker you choose. IG Group and OANDA both are regulated in a major hub. IG Group is a publicly traded company, while OANDA is not. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. IG Group boasts an offering of 91 different currency pairs compared to OANDA's 71 available pairs.
To round out our comparison of IG Group vs OANDA, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. IG Group and OANDA both offer Meta Trader. With a platform picked out, looking at charts is a must so they should be of high-quality. As part of our research, we count the number of drawing tools and total technical indicators available. IG Group trails OANDA by 14 total charting tools, with OANDA offering 31 and IG Group offering 17. IG Group trails OANDA by 29 total different indicators (for example, moving averages), with OANDA offering 51 and IG Group offering 22.
IG Group Review
OANDA Review
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Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.
IG - 76% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you can afford to take the high risk of losing your money.
OANDA - CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
