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OANDA vs Interactive Brokers 2019

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Is Interactive Brokers better than OANDA? After scoring forex brokers on nearly 100 different variables, Interactive Brokers is better than OANDA. Professional traders and highly experienced investors looking for a complete multi-asset forex broker will find Interactive Brokers offers a comprehensive platform with competitive fees across multiple global financial markets.

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.

Overall Rating

Feature OANDA Interactive Brokers
Overall 4 4
OANDA Review Interactive Brokers Review
77% of retail CFD accounts lose money 63.5% of retail CFD accounts lose money

Regulation

Feature OANDA Interactive Brokers
Trust Score 84 91
Year Founded
1996 1977
Publicly Traded (Listed)
No Yes
Bank
No No
Tier-1 Licenses
6 5
Tier-2 Licenses
0 0
Tier-3 Licenses
0 0
Authorised in the European Union
Yes Yes

Tier-1 Licenses

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

Tier-2 Licenses

Feature OANDA Interactive Brokers
CBRC Authorised (China)
No No
CySEC Authorised (Cyprus)
No No
ISA Authorised (Israel)
No No
FMA Authorised (New Zealand)
No No
CBR Authorised (Russia)
No No
FSB Authorised (South Africa)
No No
SEC Authorised (Thailand)
No No
DFSA / Central Bank Authorised (UAE)
No No

Tier-3 Licenses

Feature OANDA Interactive Brokers
FSC Authorised (British Virgin Islands)
No No
FSC Authorised (Mauritius)
No No
Offshore Authorised
No No

Investments

Feature OANDA Interactive Brokers
Forex: Spot Trading
Yes Yes
Currency Pairs (Total Forex pairs)
71 115
CFDs - Total Offered
52 6100
Cryptocurrency traded as actual
No No
Cryptocurrency traded as CFD
Yes Yes
Offering of Investments 3.5 4.5
Winner check_circle

Cost

Feature OANDA Interactive Brokers
Average Spread EUR/USD - Standard
1.4 (as of Q3 2018) N/A
All-in Cost EUR/USD - Active
1.4 (as of May 19) N/A
Active Trader or VIP Discounts
Yes Yes
Commissions & Fees 4 4
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Funding

Feature OANDA Interactive Brokers
Minimum Initial Deposit
$0.00 $0
Bank Wire (Deposit/Withdraw)
Yes Yes
Visa/Mastercard (Credit/Debit)
Yes No
PayPal (Deposit/Withdraw)
No No
Skrill (Deposit/Withdraw)
No No
UnionPay (Deposit/Withdraw)
No No

Trading Platforms

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

Trading Tools

Feature OANDA Interactive Brokers
Virtual Trading (Demo)
Yes Yes
Alerts - Basic Fields
Yes Yes
Watchlists - Total Fields
7 300
Charting - Indicators / Studies (Total)
51 121
Charting - Drawing Tools (Total)
31 9
Charting - Trade From Chart
Yes Yes
Charting - Drawings Autosave
Yes Yes
Order Type - Trailing Stop
Yes Yes
Platform & Tools 4 4
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Mobile Trading

Feature OANDA Interactive Brokers
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
No Yes
Charting - Indicators / Studies
30 68
Charting - Draw Trend Lines
Yes No
Charting - Trend Lines Moveable
Yes No
Charting - Multiple Time Frames
Yes Yes
Charting - Drawings Autosave
Yes Yes
Forex Calendar
Yes No
Mobile Trading 3.5 4
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Research

Feature OANDA Interactive Brokers
Daily Market Commentary
Yes No
Forex News (Top-Tier Sources)
Yes Yes
Weekly Webinars
Yes No
AutoChartist
Yes No
Trading Central (Recognia)
No Yes
Delkos Research
No No
Social Trading / Copy-Trading
Yes No
Social Sentiment - Currency Pairs
Yes No
Economic Calendar
Yes Yes
Research 4.5 3.5
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Education

Feature OANDA Interactive Brokers
Has Education - Forex
Yes Yes
Has Education - CFDs
No Yes
Client Webinars
Yes Yes
Client Webinars (Archived)
Yes Yes
Videos - Beginner Trading Videos
Yes No
Videos - Advanced Trading Videos
Yes Yes
Investor Dictionary (Glossary)
Yes Yes
Tutorials/Guide (PDF or Interactive)
Yes Yes
Education 3.5 4
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Major Forex Pairs

Feature OANDA Interactive Brokers
GBPUSD (or USDGBP)
Yes Yes
USDJPY (or JPYUSD)
Yes Yes
EURUSD (or USDEUR)
Yes Yes
USDCHF (or CHFUSD)
Yes Yes
USDCAD (or CADUSD)
Yes Yes
NZDUSD (or USDNZD)
Yes Yes
AUDUSD (or USDAUD)
Yes Yes
USDCNH (or CNHUSD)
Yes Yes
USDSGD (or SGDUSD)
Yes Yes

Overall

Feature OANDA Interactive Brokers
OANDA Review Interactive Brokers Review
Overall 4 4
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To find the top fx brokers, the team here at ForexBrokers.com collected over 2,200 data points during a several month review of the forex industry. In this fx broker comparison, we will compare Interactive Brokers 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. Both Interactive Brokers and OANDA hold a 4.00 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. Both Interactive Brokers and OANDA are regulated in a major hub. Interactive Brokers 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. Interactive Brokers offers its clients access to 115 different currency pairs while OANDA has 71 available pairs, a difference of 44.

To round out our comparison of Interactive Brokers vs OANDA, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. OANDA has Meta Trader, Interactive Brokers doesn't. 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. OANDA offers its clients access to 31 charting tools while Interactive Brokers has 9 charting tools, a difference of 22. Interactive Brokers offers its clients access to 121 different indicators (for example, volume) while OANDA has 51 available indicators, a difference of 70.

Interactive Brokers Review
OANDA Review


Trading CFDs, FX, and cryptocurrencies involves 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 02/18/2019 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.

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.

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