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 vs OANDA: IG was founded in 1974 and is publicly traded; OANDA began in 1996 and is privately held. IG also operates a bank, while OANDA is not a bank. On ForexBrokers.com’s Trust Score, IG earns 99/99 and OANDA scores 92/99; both fall in the 90–99 range, which is considered highly trusted (80–89 trusted, 70–79 average risk, 60–69 high risk, under 59 not trusted).
Regulation details: IG holds 8 Tier-1 licenses (highly trusted) and 2 Tier-2 licenses (trusted). OANDA holds 7 Tier-1 licenses and no Tier-2 licenses. In practice, more Tier-1 approvals show a broker is overseen by more top-tier regulators across major regions, which can help with client protections and transparency.
| 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 |
In the commissions and fees category, IG comes out ahead of OANDA for most traders. IG earns a 5-star rating and ranks #6 out of 36 brokers, while OANDA earns 4 stars and ranks #32 out of 36. IG is not a low-cost discount broker, but it does offer competitive pricing for active traders, especially through its Forex Direct DMA account and volume-based rebates. Its EUR/USD spreads were close to the industry average, with a July 2023 all-in cost of about 0.82 pips on Forex Direct after commission, and CFD spreads averaged 0.69 pips during the main trading session.
OANDA’s trading costs are generally higher. It has commission-free pricing with spreads that can be wider than many top brokers, such as an average EUR/USD spread of 1.61 pips in July 2024 under its standard pricing. OANDA’s core pricing can lower spreads, but it adds a commission of $5 per side per $100,000 traded, and the $10,000 minimum deposit may be a hurdle for some traders. Even so, OANDA does offer useful pricing tools, including transparent spread tracking and rebates for high-volume clients in some regions.
Overall, IG is the better pick if your goal is lower trading costs and stronger pricing for active forex and CFD trading. OANDA is still a solid choice for traders who value simple pricing, small trade sizes, and execution quality, but its fees are usually less competitive than IG’s. If commissions and spreads are a priority, IG has the edge.
| Feature |
IG
|
OANDA
|
|---|---|---|
| Minimum Deposit | £1 | $0 |
| Average spread (EUR/USD) - Spread-only account | 0.91 | 1.68 |
| All-in Cost EUR/USD - Raw spread account | 0.82 | N/A |
| Non-wire bank transfer (Deposit/Withdraw) | Yes | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to range of investments, IG has the wider selection overall. It offers 19,537 tradable symbols and 97 forex pairs, compared with OANDA’s 4,172 symbols and 68 forex pairs. Both brokers support forex trading as either a CFD or spot contract, and both let clients trade exchange-listed shares on U.S. and international markets, buy actual cryptocurrency, and trade cryptocurrency CFDs.
One key difference is copy trading: OANDA offers it, while IG does not. Based on third-party ratings, IG earns 5 out of 5 stars for Range of Investments and ranks #4 out of 36 brokers, while OANDA scores 4.5 out of 5 stars and ranks #20. For traders looking for the broadest choice of markets, IG has the edge; OANDA still covers the main bases and adds copy trading for those who want to follow other traders.
| Feature |
IG
|
OANDA
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 4172 |
| Forex Pairs (Total) | 97 | 68 |
| 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 give traders a wide set of platform choices, including free demo accounts, a proprietary platform, web-based access, Windows desktop software, and support for MetaTrader 4 and MetaTrader 5. Both brokers also let users place trades directly from charts, which can make it easier to act quickly while watching price moves. In everyday use, this means each broker should feel familiar and flexible for most trading styles.
The main difference is that OANDA offers copy trading, while IG does not. That may matter for traders who want to follow and mirror other investors’ trades. Overall, IG edges ahead on trading platforms and tools, with a 5-star rating and a #1 ranking from ForexBrokers.com, compared with OANDA’s 4-star rating and #16 ranking.
| 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 | 82 |
| 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, and each includes price alerts, 33 technical studies, trendline drawing, and auto-saving for chart drawings. Both apps are also rated 5 stars for mobile trading, so in basic charting and trading tools, the two brokers are very similar.
The biggest difference is watchlist syncing. IG lets you sync watchlists between its mobile app and your online account, so any changes carry over both ways. OANDA does not offer that feature. This edge helps IG stand out, which may be one reason ForexBrokers.com ranks IG #1 out of 36 brokers for mobile trading apps, while OANDA is ranked #7.
| 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 | 33 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
IG and OANDA both give traders a strong set of market research tools. Each broker offers daily market commentary, forex news from major sources such as Bloomberg and Reuters, Autochartist tools, sentiment data showing long and short positions, Acuity Trading tools, and an economic calendar with key global events. Both brokers are also rated 5 out of 5 stars for Research, which makes them a solid fit for traders who want regular market updates and trading ideas.
The main difference is that IG has an edge in extra research content. IG includes TipRanks market research, while OANDA does not. That added feature helps IG rank higher for research overall, with ForexBrokers.com placing IG at #2 out of 36 brokers in the Research category, compared with OANDA at #4. For most traders, though, both brokers offer a very similar and useful research experience.
| 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 | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
IG and OANDA both give beginner traders plenty of ways to learn, with each offering more than 10 education pieces focused on forex or CFDs, monthly live client webinars, and at least 10 beginner videos plus 10 advanced videos. For someone just starting out, that means either broker can provide a solid path from basic trading ideas to more detailed topics without needing to look elsewhere right away.
Where they differ is in overall Education standing. IG earns a 5-star Education rating and ranks #7 out of 36 brokers at ForexBrokers.com, while OANDA also receives 5 stars but ranks #18. In simple terms, both brokers are strong for learning resources, but IG has the edge in the category based on its higher ranking.
| 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 #14.
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
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| Overall Rating |
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| Trust Score | 99 | 92 |
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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.
When comparing IG vs OANDA for deposit and withdrawal methods, both brokers support ACH or SEPA transfers and bank wires, IG offers PayPal while OANDA does not, and OANDA supports Skrill while IG does not.
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 | 92 | |
| Winner | check_circle | ||
| Review | IG Review | OANDA Review |
| Broker Screenshots | IG | OANDA | |
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| Regulation | IG | OANDA | |
|---|---|---|---|
| Trust Score | 99 | 92 | |
| 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 CMA 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 | 68 | |
| 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) - Spread-only account | 0.91 | 1.68 | |
| All-in Cost EUR/USD - Raw spread account | 0.82 | N/A | |
| 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 | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer (Deposit/Withdraw) | 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 | 82 | |
| 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 Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 33 | 33 | |
| 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 | |
|---|---|---|---|
| EUR/USD | Yes | Yes | |
| Review | IG Review | OANDA Review |
| Overall | IG | OANDA | |
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| Trust Score | 99 | 92 | |
| Winner | check_circle | ||
| Review | IG Review | OANDA Review |
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