ForexBrokers.com is committed to the highest ethical standards and reviews services independently. Advertiser Disclosure

IG vs OANDA 2020

Is IG better than OANDA? After testing 30 of the best forex brokers over five months, IG is better than OANDA. Regulated and trusted across the globe, IG offers traders the ultimate package of excellent trading and research tools, industry-leading education, competitive pricing, and an extensive list of tradeable products. This fantastic all-round experience makes IG the best overall broker in 2020.



CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Established 1974, join 239,000+ traders worldwide Visit Site
Visit Site >

Overall Rating

Feature IG OANDA
Overall 5 4
Commissions & Fees 5 4
Offering of Investments 5 3.5
Platforms & Tools 5 3.5
Mobile Trading 4.5 4
Research 5 4.5
Education 4.5 3.5
Trust Score 99 89
76% of retail CFD accounts lose money 73.5% of retail CFD accounts lose money
IG Review OANDA Review
Winner check_circle

Regulation

Feature IG OANDA
Trust Score 99 89
Year Founded
1974 1996
Publicly Traded (Listed)
Yes No
Bank
Yes No
Tier-1 Licenses
6 6
Tier-2 Licenses
3 0
Tier-3 Licenses
1 0
Authorised in the European Union
Yes Yes

Tier-1 Licenses

Feature IG OANDA
ASIC Authorised (Australia)
Yes Yes
IIROC Authorised (Canada)
No Yes
SFC Authorised (Hong Kong)
No No
FSA Authorised (Japan)
Yes Yes
MAS Authorised (Singapore)
Yes Yes
FINMA Authorised (Switzerland)
Yes No
FCA Authorised (UK)
Yes Yes
CFTC Registered (USA)
Yes Yes

Investments

Feature IG OANDA
Forex: Spot Trading
Yes Yes
Social Trading / Copy-Trading
Yes Yes
Currency Pairs (Total Forex pairs)
104 70
CFDs - Total Offered
19537 55
Cryptocurrency traded as actual
No No
Cryptocurrency traded as CFD
Yes Yes

Cost

Feature IG OANDA
Average Spread EUR/USD - Standard
0.745 (August 2020) 1.4 (August 2020)
All-in Cost EUR/USD - Active
0.365 (May 2020) 1.4 (August 2020))
Active Trader or VIP Discounts
Yes Yes

Funding

Feature IG OANDA
Minimum Initial Deposit
£250.00 $0.00
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes Yes
PayPal (Deposit/Withdraw)
Yes Yes
Skrill (Deposit/Withdraw)
No No

Trading Platforms

Feature IG OANDA
Proprietary Platform
Yes Yes
Desktop Platform (Windows)
Yes Yes
Web Platform
Yes Yes
Social Trading / Copy-Trading
Yes Yes
MetaTrader 4 (MT4)
Yes Yes
MetaTrader 5 (MT5)
No Yes
cTrader
No No

Trading Tools

Feature IG OANDA
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
14 7
Charting - Indicators / Studies (Total)
30 81
Charting - Drawing Tools (Total)
20 431
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
No Yes
Order Type - Trailing Stop
Yes Yes

Mobile Trading

Feature IG OANDA
Android App
Yes Yes
Apple iOS App
Yes Yes
Trading - Forex
Yes Yes
Trading - CFDs
Yes Yes
Alerts - Basic Fields
Yes Yes
Watch List
Yes Yes
Watch List Syncing
Yes No
Charting - Indicators / Studies
30 33
Charting - Draw Trend Lines
Yes Yes
Charting - Trend Lines Moveable
Yes Yes
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes Yes
Forex Calendar
Yes Yes

Research

Feature IG OANDA
Daily Market Commentary
Yes Yes
Forex News (Top-Tier Sources)
Yes Yes
Weekly Webinars
Yes Yes
AutoChartist
Yes Yes
Trading Central (Recognia)
No No
Delkos Research
No No
Social Sentiment - Currency Pairs
Yes Yes
Economic Calendar
Yes Yes

Education

Feature IG OANDA
Has Education - Forex
Yes Yes
Has Education - CFDs
Yes No
Client Webinars
Yes Yes
Client Webinars (Archived)
Yes Yes
Videos - Beginner Trading Videos
Yes Yes
Videos - Advanced Trading Videos
Yes Yes
Investor Dictionary (Glossary)
Yes Yes

Major Forex Pairs

Feature IG OANDA
GBP/USD
Yes Yes
USD/JPY
Yes Yes
EUR/USD
Yes Yes
USD/CHF
Yes Yes
USD/CAD
Yes Yes
NZD/USD
Yes Yes
AUD/USD
Yes Yes

Overall

Feature IG OANDA
Overall 5 4
Commissions & Fees 5 4
Offering of Investments 5 3.5
Platforms & Tools 5 3.5
Mobile Trading 4.5 4
Research 5 4.5
Education 4.5 3.5
Trust Score 99 89
IG Review OANDA Review
Winner check_circle

Comparing forex brokers side by side is no easy task. For our 2020 annual forex broker review, we spent hundreds of hours assessing 30 forex and CFD brokerages to find the best forex broker. Let's compare IG vs OANDA.

Does IG or OANDA offer lower pricing?
Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, IG offers better pricing overall for traders.

Is IG or OANDA safer for forex and CFDs trading?
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 20 international regulator databases. Here's our findings. Both IG and OANDA hold 6 global Tier-1 licenses. IG holds 3 global Tier-2 licenses, while OANDA holds 0. All regulators considered, IG has a Trust Score of 99.00, while OANDA's Trust Score is 89.00.

Which trading platform is better: IG or OANDA?
To compare the trading platforms of both IG and OANDA, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, IG offers a better experience. With research, IG offers superior market research. Finally, we found IG to provide better mobile trading apps.

What about MetaTrader and copy trading?
For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. IG and OANDA both offer copy trading. Both IG and OANDA offer MetaTrader 4 (MT4).

How many forex pairs and CFDs are available to trade?
IG provides traders 104 currency pairs (e.g., EUR/USD) compared to OANDA's 70 available pairs. Forex pairs aside, IG offers traders access to 19537 CFDs while OANDA has 55 available CFDs, a difference of 19,482.

Overall, between IG and OANDA, IG is the better forex broker.

IG Review
OANDA Review

Related Comparisons

Trading CFDs, FX, and cryptocurrencies involve 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 01/20/2020 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.

The names, products, services, branding/logos, and other trademarks or images featured or cited within this Website (www.forexbrokers.com) are the property of their respective owners and the owners retain all legal rights therein. These trademark holders are not affiliated with ForexBrokers.com and the use or display of names, trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, or endorses ForexBrokers.com or any of its reviews, products, or services. ForexBrokers.com declares no affiliation, sponsorship, nor any partnership with any trademark holders unless otherwise stated.

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.

arrow_drop_upBack to top