Interactive Brokers vs. OANDA

Page Summary

Interactive Brokers and Oanda are top online brokers. Interactive Brokers is a good choice for advanced traders outside the United States. It has a professional trading platform, learning tools, and a digital library. 

Oanda is a leading U.S. forex broker with beginner-friendly tools and platforms. It has top-tier licenses from the FCA and CFTC. We recommend it for new investors as its trading platforms are easy to learn. 

This article discusses the advantages and disadvantages of Interactive Brokers and Oanda. 

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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

Top findings from the Interactive Brokers vs. Oanda review:  

  1. Interactive Brokers is a safe online broker for professional traders based outside the United States. 
  2. Oanda is a leading U.S. forex broker with useful research tools and a learning center. 
  3. Both brokers have a minimum initial deposit of $0 and offer a demo account. 

Interactive Brokers is an excellent choice for non-US-based professional traders. It offers premium tools and platforms to improve your trading knowledge. We recommend Oanda for new traders as it has powerful educational and research tools. 

Level of experience  

Interactive Brokers has learning tools and materials. It provides access to webinars, videos, and platform tutorials. This broker is a good choice for professionals as it has premium platforms. 

Oanda has a straightforward trading platform with excellent research tools. It is a good fit for new investors because of its smooth trading experience. Oanda offers a dedicated learning center with many useful tools. 

Fees  

Both brokers have a minimum initial deposit of $0 and offer an active trader discount. The average EUR/USD spread at Oanda is 1.4. 

Assets  

Interactive Brokers offers 105 forex currency pairs, while Oanda has 70 available pairs. Interactive Brokers has 7400 CFDs, while Oanda offers 55 CFDs. 

Trading platform  

Interactive Brokers has leading trading tools, a massive asset offering, and research tools. Its web, desktop, and mobile app provide access to professional charting tools. Interactive Brokers is a good choice for professional investors. 

Oanda has beginner-friendly platforms and tools. It offers useful technical indicators and a flexible API. This broker is an excellent choice for new investors, as it has a dedicated learning center. 

Banking services  

Banking services represent important benefits for an impressive trading experience. Oanda has many funding options, including bank transfers, credit/debit cards, and PayPal. Interactive Brokers only offers bank transfers. 

Final verdict  

Interactive Brokers and Oanda are top online brokers. Both have strengths and weaknesses depending on your experience, skills, and location. We recommend Interactive Brokers to professional traders outside the United States. Oanda is a better fit for U.S. traders of all levels of experience. 

Interactive Brokers compared to other brokers:

Interactive Brokers Review

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