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 |
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.
Comparing IG vs OANDA on market range, IG offers far more to choose from, with 19,537 tradeable symbols versus OANDA’s 4,172. IG also lists 97 forex pairs compared with OANDA’s 69. Both brokers let you trade forex as CFDs or spot contracts, and both provide access to exchange-traded securities on U.S. markets (like Apple) as well as international exchanges (such as London-listed Vodafone). That means you can trade major global shares alongside currencies at either broker.
For crypto, IG and OANDA both support buying actual coins and trading crypto via CFDs. A key difference is copy trading: OANDA offers it, while IG does not. Reflecting the broader lineup, IG earns 5 stars for Range of Investments and ranks 4th out of 63 brokers at ForexBrokers.com, while OANDA scores 4 stars and ranks 20th. If sheer variety across markets is your priority, IG has the edge; if you want copy trading within a wide—but smaller—selection, OANDA is appealing.
| 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 | 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 | £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 | 93 | |
| Winner | check_circle | ||
| Review | IG Review | OANDA Review |
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