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 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.
IG offers a wider range of investments than OANDA. IG lists 19,537 tradeable symbols and 97 forex pairs, while OANDA provides 4,172 symbols and 69 pairs. Both brokers let you trade forex as either CFDs or spot contracts. In independent ratings for range of investments, IG earns 5 stars and ranks #4 out of 63 brokers, compared with OANDA’s 4 stars and #28 ranking.
Both IG and OANDA support exchange-traded securities on U.S. and international exchanges (for example, buying shares like Apple or Vodafone). Each also offers access to actual cryptocurrency as well as crypto CFDs. One key difference: OANDA supports copy trading, while IG does not. If you want the largest symbol list and more forex pairs, IG stands out; if copy trading is a priority, OANDA is the pick.
| 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.
Comparing IG vs OANDA for trading platforms and tools: both brokers provide free demo (paper) trading, proprietary in-house platforms, Windows desktop downloads, and web-based platforms. Each supports MetaTrader 4 and lets you place trades directly from charts. A key difference is MetaTrader 5 and copy trading—OANDA offers both, while IG does not.
For overall platform quality, ForexBrokers.com rates IG at 5 stars and ranks it #2 out of 63 brokers, while OANDA holds 4 stars and ranks #15. If you want MT5 and copy trading, OANDA is the better fit. If you prefer a higher-rated platform suite, IG edges ahead. Either way, both deliver user-friendly charting, MT4 access, and demo accounts to practice before you trade live.
| 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) | 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 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 make it easy to learn forex and CFDs. Each hosts online client webinars at least once a month and offers 10+ beginner videos that explain the basics in plain language. When you’re ready to level up, both also provide 10+ advanced videos. On quality, both are rated 5 stars for Education.
The key difference is how they stack up in industry rankings. In the ForexBrokers.com Education category, IG ranks #1 out of 63 brokers, while OANDA ranks #19. If you want the highest-rated learning experience with regular webinars and plenty of beginner-friendly videos, IG stands out. If you prefer OANDA’s platform but still want strong education with frequent webinars and a full set of beginner and advanced videos, OANDA is a solid pick.
| 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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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 | 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 (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 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. 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 | 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 | |
| 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 [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 | 93 | |
| Winner | check_circle | ||
| Review | IG Review | OANDA Review |
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