Interactive Brokers vs. OandA Comparison

This comparison guide helps users who struggle to select in between Interactive Brokers and OandA to locate the most effective online broker for their trading and financial investment requirements. It assesses the main features of both brokers alongside to help customers compare their solution and make a notified choice.

To help customers select the best broker between Interactive Brokers and OandA to locate the best-suited platform, below is a list of broker’s pros and cons, complied with by a contrast of their primary trading functions, including trading systems & devices, costs, mobile trading, deposit & withdrawal, properties, guideline, and consumer assistance.

Interactive Brokers vs. OandA: Summary

Interactive Brokers

Interactive Brokers is a highly trusted global broker with a well-rounded offer of tradable markets, great educational content and sophisticated order type configuration. It is a high trusted and well capitalize company with an industry leading trading platform, a competitive fee structure and great global market access. Their low entry level and the Global Trader platform, which is intuitive and easy to use trading station, make this broker s great choice for beginners and advanced forex traders.

Professional and seasoned traders will appreciate the great selection of advanced trading tools and order type configurations available on their proprietary Trader Workstation desktop platform (TWS).

Oanda logo

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

  • Low minimum deposit ($0)
  • Industry lowest overall fees
  • Professional trading platform suitable for different types of traders
  • Intuitive and easy to use mobile trading app
  • Compatible features for casual and professional traders
  • Responsive customer support

Cons

  • Few deposit and withdrawal options
  • Research and education materials missing

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

  • Margin loan rates on stocks of 1.3%
  • Access to 135+ global markets
  • Advanced order types, tools and features
  • Access to frictional shares
  • Lowest commissions in the industry

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

Interactive Brokers vs. OandA Comparison

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Compare brokers
Interactive Brokers

Interactive Brokers

Open account Read review

All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

Oanda logo

Oanda

Open account Read review

74-89% of retail CFD accounts lose money

BROKER COMPARISON

Interactive Brokers
Oanda logo

Overall rating

4,9/5

3,8/5

Overall rating

4,9/5

3,8/5

Trading Platform & Tools

4.9

3.9

See details
Automated Trading
Charting Tools
Conditional Orders
cTrader
Demo Account
Desktop Platform
Max Leverage 1:20 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

4.9

3.1

See details
Withdrawal Fee 0 $20 + Fee
Deposit Fee 1% 0
Inactivity Fee 0 $10 a month after 12 months
Cost Per Trade 0 0
Cost Per Month 0 0
Forex (EUR/USD) 0.2 pips + 0.08 to 0.20 bps times trade size comission 1.3
Stocks & ETF $ 0.005 per share 0
CFD (Gold) 0.02% 31
Crypto 0.12% to 0.18% of trade value 0
Options 0
Conversion Fees 0 0
Misc. Fees 0 0
Overnight Fees Yes on CFD’s

Mobile Trading

5.0

5.0

See details
Android
Apple
Watchlist
Econ. Calendar
Charting Tools

Deposit & Withdrawal

4.9

3.8

See details
Minimum deposit (in UAE) $0 0
Bank Wire
Credit/Debit Card
Cash
Check YES from US bank account
Islamic Account Transfer
E-payments
Paypal
Skrill
Neteller

Assets

4.9

1.8

See details
Shares 16.500 0
ETF & Funds 35.000 0
Crypto 4 0
Commodities 1 0
Indices 3052 0
Options 50.000 0
Futures 245 0
Bonds 1.000.000 0
Forex 115 70
CFD Indices & Funds 13 12
CFD Stocks 8.000 0
CFD Commodities 2 35
CFD Crypto 0 0
CFD Bonds 0 3
Binary Options 0 0
SWAPS 0 0
Saving Plans 0 0

Regulation

5.0

5.0

See details
Tier 1 License
Tier 2 License
Tier 3 License

Research & Education

4.8

3.6

See details
Webinars
Educational Resources
Daily News Updates
Market Indepth Analysis
Pers. Training & Room
Market Research

Customer Support

4.9

4.5

See details
Email
Phone
Live Chat
24/7 support
Multilingual
Personal Account Manager

Winner

Interactive Brokers vs. OandA Comparison Conclusion

The results of our contrast of Interactive Brokers vs. OandA are involved the table listed below.

Broker:Best For:
Interactive BrokersStocks and ETFs
OandAForex and CFDs

Choosing the best option between Interactive Brokers and OandA can be difficult. Both online brokers have similarities yet differ regarding trading tools, platforms & applications, policy, down payment & withdrawals, and research and education. Picking the best broker depends on customers’ trading & 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.

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