OANDA vs IG

OANDA
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.

Summary

FeatureOANDAIG
Website//www.oanda.com//www.ig.com
Founded year19961974
HeadquarterUSAUK
LicensesUSA, UK, Australia, Canada, Singapore, Japan, MaltaUK, Australia, Switzerland, Singapore, UAE, Japan, US
Minimum Deposit0 US$300 US$
Trading PlatformsOANDA Trade, MT4IG Proprietary, MT4
Eurusd avg Spread1.2 pips0.6 pips

Licenses

FeatureOANDAIG
Licenses Countries Info (short)
  • ASIC
  • IIROC
  • JFSA
  • METI
  • MAS
  • FCA
  • NFA
  • ASIC
  • JFSA
  • MAS
  • FINMA
  • FCA
  • CFTC

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.

Broker Types

FeatureOANDAIG
Broker types
  • STP
  • NDD
  • Market Making

IG is a Market Maker Broker with quick execution and unique fixed spreads proposals, while OANDA is an STP/NDD Broker, which is better for price transparency.

Trading Conditions

FeatureOANDAIG
Trading Conditions
  • beginners
  • floating spread
  • low spread
  • tight spread
  • copy trade
  • expert advisor
  • hedging
  • scalping
  • beginners
  • low spread
  • expert advisor
  • hedging
  • scalping
  • social trading

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

FeatureOANDAIG
Inactivity Feemonth12 $18 $
Deposit fee0 $0 $
Withdrawal fee0 $0 $
Rollover fee eurusd buy 1 lot-0.9 -2.5%
Rollover fee eurusd sell 1 lot2.75+2.5%
Avg Eurusd standard acc1.2 pips0.6 pips
Gold25.330
Brent oil43
Bitcoin3665

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.

Account Types

FeatureOANDAIG
Account types
  • Standard Account
  • Islamic Account
  • Swap Free Account
  • MAM Account
  • Standard Account

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

FeatureOANDAIG
Forex71200+
Indices1678
Commodities3145
Cryptocurrencies68
Shares10,000+
Bonds3
Options
Binary options
Spread betting✔️
Treasuries
Futures
Etfs2,000+

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.

Trading Platforms

FeatureOANDAIG
Platforms
  • own platform
  • MetaTrader 4
  • own platform
  • MetaTrader 4

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

FeatureOANDAIG
Payment methods
  • credit card
  • debit card
  • neteller
  • PayPal
  • skrill
  • credit card
  • debit card
  • neteller
  • PayPal
  • skrill

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. 

Others

FeatureOANDAIG
Others
  • Webinar
  • Seminar
  • Video Tutorial
  • telephone
  • live chat
  • 24/5 availability
  • Webinar
  • telephone
  • live chat
  • 24/7 availability

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.