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.
Overall
Overall
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 |
IG comes out ahead of OANDA for commissions and fees, especially for active forex traders who want tighter pricing. IG is rated 5 stars and ranked #7 out of 36 brokers by ForexBrokers.com in the Commissions and Fees category. Its pricing is not the cheapest in the market, but it offers competitive spreads on its Forex Direct DMA account, with an average EUR/USD spread of 0.62 pips in July 2023 and an estimated all-in cost of about 0.82 pips after commission. IG also offers spread rebates for high-volume traders, which can bring costs down even further.
OANDA is more expensive overall, though it does give traders a few useful pricing choices. It is rated 4 stars and ranked #31 out of 36 brokers for commissions and fees. Its standard pricing showed an average EUR/USD spread of 1.61 pips in July 2024, while its Core Pricing option lowers spreads but adds a commission of $5 per $100,000 traded per side, with a $10,000 minimum deposit. For very small trades, OANDA stands out by letting clients trade in units as small as 1 unit, and active traders may qualify for rebates in some regions.
In simple terms, IG is the better pick if your main goal is lower trading costs and better value for active or high-volume forex trading. OANDA is easier to use for tiny trade sizes and offers transparent pricing, but its overall fees are higher than IG’s. If commissions and fees are your top priority, IG has the edge over OANDA.
| 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.
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When it comes to the range of investments, IG has the edge over OANDA. IG offers 19,537 tradeable symbols and 97 forex pairs, compared with OANDA’s 4,172 symbols and 69 forex pairs. Both brokers let you trade forex as a CFD or spot contract, and both also offer access to exchange-traded shares on U.S. and international markets, along with delivered cryptocurrency and crypto CFDs.
One clear difference is copy trading: OANDA offers it, while IG does not. Still, IG comes out ahead overall for investment choice, earning a 5-star rating for Range of Investments and ranking #4 out of 36 brokers, versus OANDA’s 4.5-star rating and #20 ranking. For traders who want more market variety, IG is the stronger pick.
| 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 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 | 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, along with stock and forex price alerts, so either broker can work well for traders who want to stay connected on the go. Both apps also let users draw trendlines on charts and save those drawings automatically, making it easier to track trading ideas across sessions.
Where IG stands out is in watchlist syncing: changes made in the mobile app carry over to the online account, while OANDA does not offer this feature. IG also provides more technical studies in its mobile charting tools, with 33 compared with OANDA’s 30. Both brokers earn 5 out of 5 stars for mobile trading apps, but IG ranks #1 out of 36 brokers in ForexBrokers.com’s Mobile Trading Apps category, while OANDA ranks #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 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
IG and OANDA both score highly for market research, and each gives traders daily market commentary, news from major sources like Bloomberg and Reuters, Autochartist tools, sentiment data, and an economic calendar with upcoming global events. Both brokers are also rated 5 stars for Research, showing that each offers a strong set of tools for traders who want to stay informed and plan trades with more context.
Where IG pulls ahead is in the extra research support it offers. IG includes market research from TipRanks and tools from Acuity Trading, such as Signal Centre, while OANDA does not offer these add-ons. That gives IG a wider mix of research features overall, which helps explain why ForexBrokers.com ranks IG #2 out of 36 brokers for Research, compared with OANDA at #4.
| 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 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 #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
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|---|---|---|
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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.
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 | 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 | 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 | 92 | |
| Winner | check_circle | ||
| Review | IG Review | OANDA Review |
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