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 and OANDA are both reputable online brokers with strong regulatory credentials, but they have notable differences that may sway your choice. Founded in 1974, IG is a veteran in the industry and is publicly traded, enhancing its transparency. It also operates as a bank, providing an extra layer of trust. IG holds an impressive eight Tier-1 licenses, which are highly trusted by ForexBrokers.com, and two Tier-2 licenses. This robust regulatory oversight contributes to its top-notch Trust Score rating of 99 out of 99, marking it as highly trusted.
On the other hand, OANDA was established in 1996 and, while it is not publicly traded or a bank, it still maintains a strong presence in the trading world. OANDA holds seven Tier-1 licenses, reflecting a high level of regulatory trust, though it does not hold any Tier-2 licenses. It boasts a Trust Score of 93 out of 99, indicating that it is also highly trusted but slightly trails behind IG in terms of overall trustworthiness as per ForexBrokers.com. Both brokers offer reliability and trusted trading environments, but IG’s status as a publicly traded bank and its slightly higher regulatory compliance can appeal to those seeking extra assurance.
| 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 |
When it comes to commissions and fees, IG generally undercuts OANDA for active forex traders. IG’s Direct Market Access (Forex Direct) pricing delivered an average EUR/USD spread of 0.62 pips in July 2023, with an all-in cost around 0.82 pips after commissions; its spread-only CFD account averaged 0.69 pips during peak hours and about 0.98 pips across all sessions worldwide (IG US averaged 1.18 pips). Qualified pros can tap IG’s active-trader rebates (10%–20% off the spread), which can push effective costs near 0.60 pips. By contrast, OANDA’s default pricing averaged 1.61 pips on EUR/USD in July 2024, and its “core” pricing—0.4-pip spread plus $10 per standard-lot round turn—lands near 1.4 pips all-in. Ratings: IG 5/5 stars (ranked #8 of 63 for Commissions and Fees), OANDA 4/5 stars (ranked #35 of 63).
IG isn’t a discount broker, but its scale and execution options make it price-friendly for higher-volume traders and large orders. The DMA (Forex Direct) account has a £1,000 minimum and tiered commissions that start at $60 per million traded and can fall to $10 per million per side for very high volumes, keeping all-in costs highly competitive. Outside peak hours, spreads can widen; across the full day, IG’s global average in July 2023 was 0.98 pips. IG also offers spread rebates for professionals in select regions and premium trader perks where permitted.
OANDA’s strength is straightforward, automated execution, but its forex trading costs trend higher than top low-cost peers. Its core pricing requires a $10,000 minimum deposit and adds a $5 per side commission per $100,000 traded (about $10 round turn), which can slightly improve the all-in rate versus its commission-free pricing. OANDA does offer flexible sizing down to a single unit (smaller than a micro lot), an Elite Trader rebate program in select regions ($5–$17 per million), and transparent, continually updated spread data—though it doesn’t publish fixed-period averages that make direct comparisons easier.
| Feature |
IG
|
OANDA
|
|---|---|---|
| Minimum Deposit | ÂŁ250.00 | $0 |
| Average Spread EUR/USD - Standard | 0.98 | 1.69 |
| 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.
IG and OANDA both let you trade forex as CFDs and spot contracts. When it comes to the range of investments, IG offers far more choice: 19,537 tradeable symbols and 97 forex pairs, compared with OANDA’s 4,172 symbols and 69 pairs. Both brokers support exchange-traded securities (not CFDs) on U.S. markets like NASDAQ and NYSE, and on international exchanges, so you can buy shares such as Apple or Vodafone outright.
Feature-wise, OANDA stands out if you want copy trading, while IG does not offer it. Each broker lets you buy actual cryptocurrency as well as crypto derivatives. For overall breadth, IG earns 5 stars and ranks #4 for Range of Investments at ForexBrokers.com, while OANDA earns 4 stars and ranks #28.
| Feature |
IG
|
OANDA
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 4172 |
| Forex Pairs (Total) | 97 | 69 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Underlying) | Yes | Yes |
| 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). | 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 check the key boxes for trading platforms and tools: each offers a free paper-trading demo account, their own in-house platform, a Windows desktop download, and a web-based platform. Both support MetaTrader 4 (MT4) and let you place trades directly from charts. The main platform difference is that OANDA also supports MetaTrader 5 (MT5) and offers copy trading, while IG does not. Details for DupliTrade, ZuluTrade, chart indicators, drawing tools, and watch list column options were not specified.
In independent evaluations of trading platforms and tools, IG earns 5 stars and ranks #2 out of 63 brokers at ForexBrokers.com, while OANDA earns 4 stars and ranks #15. If MT5 or copy trading is essential, OANDA may fit better. If you want a higher-rated overall toolkit, IG has the edge.
| Feature |
IG
|
OANDA
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 33 | 89 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
IG vs OANDA for mobile trading: both brokers offer iPhone and Android apps with price alerts, real‑time quote watchlists, and charting tools that let you draw trendlines and autosave your markings. For technical studies, IG includes 33 while OANDA offers 30, giving IG a slight edge for traders who like more indicators on their phone.
The biggest difference is watchlist syncing: IG syncs your symbols between the mobile app and your online account, while OANDA does not. Both earn 5 stars for their mobile apps, but in ForexBrokers.com’s rankings across 63 brokers, IG places #1 and OANDA ranks #7. Pick IG if synced watchlists and a few extra studies matter; choose OANDA if you’re fine managing watchlists separately.
| 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 |
| Mobile Watchlist | 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 | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | No | No |
| Client sentiment data | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
IG vs OANDA for beginner education: both brokers run client webinars at least once a month and each offers 10+ beginner trading videos, plus 10+ advanced videos for when you’re ready to level up. Both earn a 5-star Education rating, yet IG is ranked #1 out of 63 brokers by ForexBrokers.com, while OANDA sits at #19—useful context if you want the most highly ranked learning experience.
Details not provided here include whether either broker meets a 10-piece minimum specifically for forex/CFD articles or videos, whether they host a searchable archive of recorded webinars, or whether they offer an investor dictionary with 50+ terms. If live sessions and video learning are your priorities, both are strong choices; if top-ranked education matters most, IG has the edge. For recorded archives and glossaries, check each broker’s website to confirm current offerings.
| 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 #12.
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 | 93 |
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Both online brokers IG and OANDA allow investors to buy actual delivered cryptocurrencies as well as cryptocurrency derivatives, providing comprehensive trading options for cryptocurrency enthusiasts.
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 | 93 | |
| Winner | check_circle | ||
| Review | IG Review | OANDA Review |
| Broker Screenshots | IG | OANDA | |
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| Regulation | IG | OANDA | |
|---|---|---|---|
| Trust Score | 99 | 93 | |
| 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 (SFC 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 SCA 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. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Underlying) | Yes | Yes | |
| 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). | 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 | 0.98 | 1.69 | |
| 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 | ÂŁ250.00 | $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 | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | 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 | 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 | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | IG | OANDA | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | 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 | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD [DELETED] | |||
| Review | IG Review | OANDA Review |
| Overall | IG | OANDA | |
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| Trust Score | 99 | 93 | |
| Winner | check_circle | ||
| Review | IG Review | OANDA Review |
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