This contrast overview helps individuals who have a hard time to pick in between IC Markets and OandA to locate the most effective online broker for their trading and financial investment requirements. It evaluates the highlights of the two brokers alongside to assist customers compare their service and make an educated decision.
To assist individuals select the ideal broker between IC Markets and OandA to find the best-suited system, below is a listing of broker’s pros and cons, adhered to by a contrast of their primary trading attributes, consisting of trading platforms & devices, costs, mobile trading, down payment & withdrawal, properties, guideline, and customer support.
IC Markets vs. OandA: Summary
![IC Markets logo](https://ik.imagekit.io/jpioohtxv/business247/wp-content/uploads/2022/04/IC-Markets.png)
IC Markets is a reputable forex and CFD broker regulated by two tier-one regulators (the ASIC and CySEC). They allow users to trade on over 3,500 symbols including 61 forex pairs and dozens of CFDs on cryptocurrencies, shares and indices.
IC Markets features multiple trading platforms and third party plugins including MetaTrader 4 (MT4), MetaTrade 5 (MT5), cTrader, myfxbook and AutoTrade. They also offer scalable order execution options without requotes and possibilities to place trades within the spread, which makes IC Markets an interesting choice for algorithmic traders.
IC Markets trading fees are among the lowest in the industry. They charge an average spread of 0.2 pips (EUR/USD) without extra commission. They also offer discounts to active traders with a trade volume above 100 lots/month.
IC Markets customer service is available by email, phone, and live chat in English, Arabic, and several other languages.
![Oanda logo](https://ik.imagekit.io/jpioohtxv/business247/wp-content/uploads/2022/04/Oanda.png)
OandA is a reputable forex and CFD forex broker founded in 1996. It is regulated by seven tier-one regulators and therefore considered safe. Their users have access to 124 tradable instruments including 71 forex pairs and a handful of CFDs on cryptos. Traders can choose between a proprietary platform (web and desktop version), MT4 and MT5. Their trading platform has an intuitive design, offers automated trade execution and multiple features for algorithmic and social trading. Market research features are powered by TradingView.
OandA’s trading fees are above average compared to similar forex and CFD brokers like AvaTrade and Pepperstone. They charge an average spread of 1.26 pips EUR/USD on their standard account.
OandA’s customer service is available during office hours by email, live chat (chatbot) and phone.
Pros
- MT4, MT5 and cTrader integration
- Competitive spreads from 0,0 pips EUR/USD
- Copy trading features (DupliTrade and Zulutrade)
- Up to 1:500 leverage
- Free Equinix NY4 VPS server
Cons
- Limited educational material
- Limited availability of assets
- No research and analysis tools
Pros
- Low minimum deposit ($0)
- Competitive average spread from 1.2 pips (EUR/USD)
- MT4, MT5 and TradingView integration
- Broad range of research and analysis tools
- Feature rich mobile app
Cons
- Limited assets
- Only CFD and forex trading available
- Customer support is only available during office hours
- Inactivity fees
Key features
- Access to over 2,000 CFDs on forex, cryptos and stocks
- Compatible with MT4, MT5 and cTrader
- Islamic swap-free account availability
- Raw spreads from 0,0 pips EUR/USD
- Fast and reliable trade execution
- Access to Expert Advisors (EA’s) and other forms of automated trading
Key features
- Access to 124 tradable symbols including 71 forex pairs
- Low minimum deposit ($0)
- Real-time currency conversion
- MetaTrader 4 and 5 integration
- Free VPS server
- Trading fee and wire transfer discounts for professional traders
IC Markets vs. OandA Comparison
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![IC Markets logo](https://ik.imagekit.io/jpioohtxv/business247/wp-content/uploads/2022/04/IC-Markets.png)
IC Markets
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71,65% 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.
![Oanda logo](https://ik.imagekit.io/jpioohtxv/business247/wp-content/uploads/2022/04/Oanda.png)
Oanda
BROKER COMPARISON
![IC Markets logo](https://ik.imagekit.io/jpioohtxv/business247/wp-content/uploads/2022/04/IC-Markets.png)
![Oanda logo](https://ik.imagekit.io/jpioohtxv/business247/wp-content/uploads/2022/04/Oanda.png)
Trading Platform & Tools
Automated Trading | ||
Charting Tools | ||
Conditional Orders | ||
cTrader | ||
Demo Account | ||
Desktop Platform | ||
Max Leverage | 1:500 | 1:50 |
MetaTrader 4 (MT4) | ||
MetaTrader 5 (MT5) | ||
Mobile Version | ||
Mutual Fund Management | ||
Proprietary Platform | ||
Social/Copy Trading | ||
Trading Alerts | ||
Trading signals | ||
Watchlist | ||
Web Version |
Fees
Withdrawal Fee | No | $20 + Fee |
Deposit Fee | No | 0 |
Inactivity Fee | 0 | $10 a month after 12 months |
Cost Per Trade | $3.5 per lot | 0 |
Cost Per Month | 0 | 0 |
Forex (EUR/USD) | 1.2 pips | 1.3 |
Stocks & ETF | 0 | 0 |
CFD (Gold) | 0 | 31 |
Crypto | 0 | 0 |
Options | 0 | 0 |
Conversion Fees | 0.01% | 0 |
Misc. Fees | 0 | |
Overnight Fees | 0 |
Deposit & Withdrawal
Minimum deposit (in UAE) | $200 | 0 |
Bank Wire | ||
Credit/Debit Card | ||
Cash | ||
Check | ||
Islamic Account Transfer | ||
E-payments | ||
Paypal | ||
Skrill | ||
Neteller |
Assets
Shares | 0 | 0 |
ETF & Funds | 40 | 0 |
Crypto | 0 | 0 |
Commodities | 0 | 0 |
Indices | 0 | 0 |
Options | 0 | 0 |
Futures | 0 | 0 |
Bonds | 0 | 0 |
Forex Instruments | 75 | 70 |
CFD Indices & Funds | 25 | 12 |
CFD Stocks | 2100+ | 0 |
CFD Commodities | 28 | 35 |
CFD Crypto | 13 | 0 |
CFD Bonds | 9 | 3 |
Binary Options | 0 | 0 |
SWAPS | 0 | 0 |
Saving Plans | 0 | 0 |
Research & Education
Webinars | ||
Educational Resources | ||
Daily News Updates | ||
Market Indepth Analysis | ||
Pers. Training & Room | ||
Market Research |
Customer Support
Phone | ||
Live Chat | ||
24/7 support | ||
Multilingual | ||
Personal Account Manager |
Winner
IC Markets vs. OandA Comparison Conclusion
The results of our comparison of IC Markets vs. OandA are wrapped up in the table listed below.
Broker: | Best For: |
IC Markets | Forex and CFDs; Algorithmic Trading |
OandA | Forex and CFDs |
Choosing the best choice in between IC Markets and OandA can be difficult. Both on-line brokers have resemblances however differ relating to trading instruments, systems & apps, regulation, deposit & withdrawals, and study and education. Choosing the very best broker depends on users’ trading & financial investment objectives, individual preferences, and experience degree.
To make a better-informed decision, users can read our detailed broker reviews, comparison or use our broker selector to help them find the ideal broker.