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


Visit 73.59% of retail CFD accounts lose money.	Visit 74-89% of retail CFD accounts lose money.
Overview
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
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)
Licenses
Financial Licenses Regulation Regulated Top-tier Licenses 1 Other Licenses 2 Provided by TheTradingBible.com Learn More	Financial Licenses Regulation Regulated Top-tier Licenses 7 Other Licenses 1 Provided by TheTradingBible.com Learn More
🏛 Financial Regulators
ASIC (Australia) CySec (Cyprus) FSA (Seychelles)	CFTC (U.S) NFA (U.S) ASIC (Australia) FCA (UK) MAS (Singapore) IIROC (Canada) FFAJ (Japan) BVI (British Virgin Islands)
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.
📍 Year Founded
2007	1996
💳 Minimum Deposit
$200	$, €, £, - 0.
💰 Payment Methods
Visa Mastercard Bank Transfer Bitcoin Sofort Paypal Neteller 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	Yes
Assets
📚 Available Assets
CFDs on stocks, currencies, commodities, cryptocurrencies and indices	CFDs on currencies, commodities, cryptocurrencies, indices and bonds.
📙 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