OANDA vs IG
Compare OANDA vs IG Side by Side
Trying to choose between OANDA vs IG, but can’t decide which Broker is better Broker for your trading strategy? We made a detailed comparison between OANDA Review vs IG Review, compared safety and licenses, trading conditions with fees, trading platforms, instruments, deposit & withdrawal conditions, and all the essential details compared side by side.
|Licenses||USA, UK, Australia, Canada, Singapore, Japan, Malta||UK, Australia, Switzerland, Singapore, UAE, Japan, US|
|Minimum Deposit||0 US$||300 US$|
|Trading Platforms||OANDA Trade, MT4||IG Proprietary, MT4|
|Eurusd avg Spread||1.2 pips||0.6 pips|
|Licenses Countries Info (short)|
Both OANDA vs IG brokers are regulated in US, UK, Australia and Japan, which makes their offers equally strong, adding some other top-tier licenses, such as Canadian one for OANDA or Switzerland license for IG broker.
There are certain similarities in trading conditions of OANDA vs IG, as they are both suitable for beginners, offer their traders trading possibilities like scalping and hedging, both provide Expert Advisors and low spreads. The only difference and we should say an advantage for IG is the social trading, which makes broker even more suitable for beginning traders.
Fees & Commissions
|Inactivity Feemonth||12 $||18 $|
|Deposit fee||0 $||0 $|
|Withdrawal fee||0 $||0 $|
|Rollover fee eurusd buy 1 lot||-0.9||-2.5%|
|Rollover fee eurusd sell 1 lot||2.75||+2.5%|
|Avg Eurusd standard acc||1.2 pips||0.6 pips|
IG’s spreads are relatively lower than those offered by OANDA, for example, the EURUSD Spread from IG is lower than the average in the industry, while OANDA spread is higher than the average. However, the fees remain quite similar for both brokers with no deposit/withdrawal fee, but with the charged monthly inactivity fee.
While OANDA offers two account types as well as Islamic one. These both accounts are based on spread and are Standard and Premium account with better costs. Also, Islamic Account is meant for traders following Sharia laws with suited conditions and applicable laws available. At the same time, IG has only one Standard Account to offer.
Markets & Instruments
IG offers a bigger number of assets for each market group. Also, there is a slight difference in the portfolios of trading instruments that traders should consider, as OANDA offers Bonds and Spread betting option (which are not present in IG’s offer), while IG is focused on Shares and ETFs.
Both OANDA vs IG Brokers offer great proprietary Trading Platforms, and both additionally offer MetaTrader4. Basically, the proposals are very similar and those proprietary platforms are equally impressive, innovative and powerful with vast of tools and capabilities of the softwares.
Deposit & Withdrawal Methods
Should we say that payment methods supported by both brokers are identical? OANDA and IG both offer bank transfers, debit/credit cards, and some popular e-wallets.
Both OANDA vs IG provide excellent customer support. As to the educational materials, both brokers stand out with strong professional interactive education, trading courses, webinars and numerous comprehensive materials,
Conclusion on OANDA vs IG
Concluding OANDA vs IG comparison we found both brokers are reliable and trustworthy with years of experience, well-organised and regulated. Both brokers provide good trading conditions, a variety of trading instruments and great proprietary platfroms. However, the advantage goes to IG for offering lower spread and providing access to social trading, making itself suitable not only for professionals, but also for beginners. Here is our final recommendation:
- OANDA – 🥇 Best Broker for Currency trading and Commodity Trading, is a choice for beginning traders and regular size traders internationally
- IG – 🥇Lowest Spread Forex Broker being comfortable for beginning traders.