IGvs
OANDAForex Broker Comparison
IG and OANDA compete on trust, costs, and platforms. This matchup tests whether broader market access or stronger regulatory credibility defines the better broker for retail traders.
Our Verdict
IG winsby 0.2 pts
IG is the winner on editorial score. OANDA trails with a lower score and narrower instrument breadth.
No commercial relationship. The verdict and scores are entirely editorial. No payment influences this comparison.
Key Differences
- 1IG offers 19,000+ markets including weekend crypto.
- 2IG provides spread betting for UK clients.
- 3IG has a broader regulator footprint than OANDA.
Verdict by Trader Profile
Which broker wins for each type of trader, based on costs, safety, platforms, and editorial scoring.
Best for low cost trading
Recommended
IG offers tighter spreads from 0.60 pips vs 1.00 pips for OANDA, reducing trading costs.
Best for safety & regulation
It’s a tie
Both equally suited
IG vs OANDA: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.8/ 5 | 4.6/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 5.0 / 5▲ | 4.8 / 5 |
IG vs OANDA Forex Broker Pros & Cons
Pros
LSE-listed with FCA and ASIC regulation, among the most credible regulatory stacks in retail CFDs
19,000+ markets including weekend crypto, volatility indices, and EM pairs, real breadth, not a padded count
Proprietary platform with ProRealTime charts, Reuters news, and DMA equity routing built in
Spread betting available for UK clients, tax-free gains on the same account used for CFD trading
No minimum deposit and no deposit or withdrawal fee on standard methods
IG vs OANDA: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
Highlighted rows show where the two brokers differ
| Criteria | IG | OANDA |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Pass | Pass |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Pass | Pass |
| Compensation scheme (e.g. FSCS) | Pass | Pass |
| Fees & Spreads | ||
| Raw/ECN spreads available | Fail | Fail |
| No deposit fee | Pass | Pass |
| No inactivity fee | Fail | Fail |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Pass |
| Proprietary platform | Pass | Pass |
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Pass |
| Customer Support | ||
| 24/5 live chat | Pass | Pass |
| Phone support | Pass | Pass |
| Multilingual support | Pass | Pass |
IG vs OANDA: Frequently Asked Questions
The scores are close: IG rates 4.8/5 and OANDA rates 4.6/5. IG has a marginal edge in our scoring, but the difference is small enough that your specific priorities — fees, platforms, or regulatory jurisdiction — should guide the final choice.
IG starts from 0.6 pips, tighter than OANDA's 1 pips. Tighter spreads lower the cost per trade, which matters most for high-frequency and scalping strategies.
Neither IG nor OANDA requires a minimum deposit, making both accessible regardless of starting capital.
Both IG and OANDA hold licences from top-tier regulators, indicating a high standard of regulatory oversight. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners, both brokers provide negative balance protection. Also compare demo account availability and educational resources on each broker's site before deciding.
IG lists maximum leverage of 30:1, while OANDA lists up to 50:1. Available leverage depends on your jurisdiction. EU retail clients under ESMA rules are capped at 1:30 on major forex pairs.
IG supports ProRealTime, Proprietary Web/Mobile, TradingView, MetaTrader 4, while OANDA supports MetaTrader 5, Proprietary Web/Mobile, TradingView, MetaTrader 4. Both provide Proprietary Web/Mobile and TradingView and MetaTrader 4. IG has exclusive access to ProRealTime. OANDA has exclusive access to MetaTrader 5.
