Interactive Brokersvs
OANDAForex Broker Comparison
In this side-by-side, two globally regulated FX brokers compete on regulation, pricing and platforms. The axes of choice include raw spreads, MT4/MT5 availability, and instrument breadth.
Our Verdict
Too close to call
Interactive Brokers and OANDA are closely matched on regulation, costs, and platforms. The clearest differentiator is instrument breadth, with Interactive Brokers offering far more instruments.
No commercial relationship. The verdict and scores are entirely editorial. No payment influences this comparison.
Key Differences
- 124/5 live chat available with OANDA
- 2MT4/MT5 supported by OANDA; IB has no MT4/MT5
- 3IB offers 17000 instruments; OANDA offers 70
Who should choose Interactive Brokers vs OANDA?
Find out which broker best suits your trader profile.
Choose Interactive Brokers if…
Choose Interactive Brokers for access to 17000 instruments and raw spreads. You also benefit from no inactivity fee.
Choose OANDA if…
Choose OANDA for MT4/MT5 support and 24/5 live chat.
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
Interactive Brokers offers tighter spreads from 0.20 pips vs 1.00 pips for OANDA, reducing trading costs.
Best for safety & regulation
It’s a tie
Both equally suited
Interactive Brokers vs OANDA: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.6/ 5 | 4.6/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.8 / 5 | 4.8 / 5 |
Interactive Brokers vs OANDA Forex Broker Pros & Cons
Pros
Available to US residents
Lowest margin rates in industry
150+ global markets
Regulated by top-tier authorities (FCA, ASIC, CySEC)
Client funds held in segregated accounts
Negative balance protection
Interactive Brokers vs OANDA: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
2
Interactive Brokers
criteria wins
2
OANDA
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | Interactive Brokers | 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 | Pass | Fail |
| No deposit fee | Pass | Pass |
| No inactivity fee | Pass | Fail |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Fail | Pass |
| Proprietary platform | Pass | Pass |
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Pass |
| Customer Support | ||
| 24/5 live chat | Fail | Pass |
| Phone support | Pass | Pass |
| Multilingual support | Pass | Pass |
Interactive Brokers vs OANDA: Frequently Asked Questions
Interactive Brokers and OANDA share the same editorial score of 4.6/5. One concrete differentiator: Interactive Brokers has tighter spreads from 0.2 pips.
Interactive Brokers starts from 0.2 pips, tighter than OANDA's 1 pips. Tighter spreads lower the cost per trade, which matters most for high-frequency and scalping strategies.
Neither Interactive Brokers nor OANDA requires a minimum deposit, making both accessible regardless of starting capital.
Both Interactive Brokers 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.
Interactive Brokers lists maximum leverage of 50:1, 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.
Interactive Brokers charges $2 per lot on commission-based accounts. Commission details for OANDA are not currently available. Check their website for up-to-date pricing.
Interactive Brokers supports Trader Workstation (TWS), Proprietary Web/Mobile, while OANDA supports MetaTrader 5, Proprietary Web/Mobile, TradingView, MetaTrader 4. Both provide Proprietary Web/Mobile. Interactive Brokers has exclusive access to Trader Workstation (TWS). OANDA has exclusive access to MetaTrader 5 and TradingView and MetaTrader 4.
