IG Group vs OANDA Review

To find the top fx brokers, the team here at ForexBrokers.com collected over 6,000 data points during a seven month review of the forex industry. In this fx broker comparison, we will compare IG Group vs OANDA.

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 3.50 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 alongside OANDA 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. Both IG Group and OANDA provide clients with access to 31 total charting tools. IG Group and OANDA offer the same number of indicators (eg, volume), 51.

Overall, IG Group comes out on top with 5.00 stars over OANDA's 4.00 stars. And, when it comes to individual category awards, IG Group finished with awards Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading and Best in Class - Investor Education in 2018, while OANDA came up with none of these.