IC Markets
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73.59% of retail CFD accounts lose money

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Oanda
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74-89% of retail CFD accounts lose money

IC Markets Vs. Oanda - Compare and Choose the Right One

Updated Nov 25 2021

Visit

73.59% of retail CFD accounts lose money

Visit

74-89% of retail CFD accounts lose money

Overview

ICMarkets is an Australian broker with a global presence specialising in Forex trading. One of their greatest advantages is providing RAW spread accounts with interbank pricing.

Oanda is an international Forex broker founded in 1996 with headquarters in the United States. Oanda specialises exclusively in currency trading solutions for all trader levels. Their greatest selling points are their strong regulatory framework and robust proprietary platforms.

Best For
  • Professional traders looking for Interbank rates
  • High volume traders that will save great amounts of costs with their low spreads and commissions
  • Forex traders of all levels (from beginner to advanced)
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The Good
  • Customisable leverage per asset before opening trades
  • Interbank rates and low commissions
  • Great platform variety
  • High trustworthiness, regulated by the best regulators in the world
  • Fast, simple and professional trading platforms
  • Competitive spreads in their currency pairs
The Bad
  • Avaliable assets are limited (Also No ETFs)
  • No ability to purchase real stocks or cryptocurrencies, only CFDs
  • Extremely limited offering of assets (104)
  • No ability to purchase real stocks or cryptocurrencies, only CFDs
Status
Operational Operational
Recent News
N/A N/A
Key Data
⌛ Account Opening Time
1 Day 1 day minimum (may take longer)
📋 Documents Required
  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

*There is no document verification needed for gross account deposits below US$9,000.

🏛 Financial Regulators
Cyprus Securities and Exchange Commission
Australian Securities and Investments Commission
Financial Services Authority Seychelles
Financial Conduct Authority
Australian Securities and Investments Commission
Monetary Authority of Singapore
Investment Industry Regulatory Organization of Canada
Financial Futures Association of Japan
📍 Year Founded
2007 1996
💳 Minimum Deposit
$200 $, €, £, - 0.
💰 Payment Methods
Visa
Mastercard
Bank Transfer
Bitcoin
Sofort
Neteller
Paypal
Skrill
Visa
Mastercard
Bank Transfer
Paypal
💵 Account Base Currencies
10 - USD, GBP, EUR, AUD, CHF, JPY, HKD, CAD, SGD, NZD. 9 - USD, EUR, GBP, SGD, CHF, JPY, AUD, CAD, HKD.
🗽 Available to U.S Citizens
No Yes
❌ Restricted Countries
US, CA, IL. AF, AL, BS, BB, BW, BF, BI, KH, KY, CF, TD, CD, CG, CU, ER, ET, GH, IR, IQ, JM, KP, LY, MU, MN, MA, MM, NI, NG, PK, PS, PA, SN, SL, SO, SS, SD, SY, TT, TN, UG, VU, YE, ZW.
📊 STP Account
Yes No
📊 DMA Account
No No
📊 ECN Account
Yes No
Assets
📚 Available Assets
Stocks
Cryptos
Commodities
Currencies
Indices
CFDs
Currencies
Commodities
Indices
Cryptos
CFDs
📙 Stocks
1600 + N/A
📘 Currency Pairs
61 68
📗 Commodities
22 13
📕 Indices
25 16
📔 ETFs
N/A N/A
💸 Cryptocurrencies
18 4
📒 Bonds
11 6
📓 Options
N/A N/A
📗 Futures
4 N/A
📝 Notes:
All ICMarkets assets are CFDs.

All Oanda's assets are CFDs. In the case of commodities, they only have 13, but each commodity has various trading pairs against several different currencies, eg: GOLD/EUR, GOLD/CHF, etc.

Trading Experience
📈 Minimum Stock Trade Size
Varies by Stock N/A
📉 Minimum ETFs Trade Size
N/A N/A
📈 Minimum Crypto Trade Size
Varies by Cryptocurrency (Eg: 0.01 BTC) Varies by crypto (Eg: 0.01 BTC)
📉 Minimum FX Trade Size
$1,000 - 0.01 Lots 1 unit of any currency pair (Eg: 1 Euro, 1 Usd, 1 GBP, etc)
📈 Minimum Commodities Trade Size
Varies by Commodity (Eg: 0.01 Troy ounces of Gold) Varies by Commodity (Eg: 1 Troy ounce of Gold)
📉 Minimum Bonds Trade Size
Varies by Bond 1 unit of any Bond contract
📈 Minimum Futures Trade Size
Varies by Future N/A
📉 Minimum Options Trade Size
N/A N/A
💪 Retail Leverage
Up to 1:30 Up to 1:30
💪 Professional Leverage
Up to 1:500 Up to 1:100
✍ Customisable Leverage
Yes Yes
🎲 Deleveraged Trading
No No
🎓 Demo Account
Yes Yes
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
Yes Yes
📺 MetaTrader 5
Yes Yes
💻 Web trader
Yes Yes
💻 TradingView Platform
No No
💻 Proprietary Platform
No Yes
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
Yes No
👫 Social Trading
Yes No
🔑 Guaranteed Stop-loss
No Yes
🔨 Trailing Stop-loss
Yes Yes
Fees
💰 Inactivity Fee
No Yes, $10 after 1 year of inactivity
💰 Deposit Fees
No No
💰 Withdrawal Fees
No

Credit and Debit cards are free, when it comes to Bank transfer depends on the account's base currency (eg: the first withdrawal costs $, €, £ 20 and any subsequent ones 35). In the case of SGD, there are no fees.

💰 Commissions

No commissions in standard accounts but rather a 1 Pip spread markup on interbank prices received. For Raw spreads accounts, $7 per lot round turn.

No, but they do charge currency conversion fees. If your account base currency is GBP and you trade the EUR/USD pair, you'll be paying a conversion fee.

Spreads
📈 EUR/USD
Dynamic - From 0 to 0.6 Pips Dynamic - From 0.8 Pips
📉 SP500
Dynamic - From 20 to 45 Pips Dynamic - From 30 Pips
📈 GOLD
Dynamic - From 30 Pips Dynamic - From 26 Pips
📉 TSLA (Stock CFD)
Dynamic - Market Spread N/A
📈 XLK (ETF - CFD)
N/A N/A
📉 BTC
Dynamic - From $8.7 to $42 Dynamic - From $100
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
No Yes
📡 Reuters Feed
No No

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