Updated May 13 2022
Overview | |
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IC Markets 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 | |
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Licenses | |
![]() Financial Regulation Regulated Top-tier Licenses 1 Other Licenses 2 Provided by |
![]() Financial Regulation Regulated Top-tier Licenses 7 Other Licenses 1 Provided by |
🏛 Financial Regulators | |
The Good | |
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The Bad | |
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Status | |
Operational | Operational |
Recent News | |
N/A | N/A |
Key Data | |
⌛ Account Opening Time | |
1 Day | 1 day minimum (may take longer) |
📋 Documents Required | |
All documents must be under the account holder's name. |
All documents must be under the account holder's name. *There is no document verification needed for gross account deposits below US$9,000. |
📍 Year Founded | |
2007 | 1996 |
💳 Minimum Deposit | |
$200 | $, €, £, - 0. |
💰 Payment Methods | |
💵 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 | Yes | Assets |
📚 Available Assets | |
📙 Stocks | |
1,600 + | 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 | Yes |
💻 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 |