Interactive Brokers
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Investing in financial products involves taking risk.

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Oanda
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74-89% of retail CFD accounts lose money

Interactive Brokers Vs. Oanda - Compare and Choose the Right One

Updated Jan 12 2022

Visit

Investing in financial products involves taking risk.

Visit

74-89% of retail CFD accounts lose money

Overview

Interactive Brokers is a global brokerage founded in 1978 that holds 11+ high tier financial licenses and provides discounted electronic trading services in nearly all the globe with access to more than 100,000+ financial instruments.

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
  • Seasoned investors looking for a one-stop shop to cover a variety of needs
  • Global investors who seek the most reliable discount service available
  • Traders from intermediate to advanced level
  • Forex traders of all levels (from beginner to advanced)
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The Good
  • High regulation
  • Exceptional number of investment instruments (Above 100,000+)
  • Competitive discount fees
  • High trustworthiness, regulated by the best regulators in the world
  • Fast, simple and professional trading platforms
  • Competitive spreads in their currency pairs
The Bad
  • Complicated account opening process
  • Platforms are not beginner friendly
  • Narrow choice of deposit options (Mostly bank transfer)
  • 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 - 3 Days 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
  • SEC (United States)
  • FINRA (United States)
  • FCA (United Kingdom)
  • ASIC (Australia)
  • IIROC (Canada)
  • MNB (Hungary)
  • BSE (India)
  • CBI (Ireland)
  • FSA (Japan)
  • CSSF (Luxembourg) CSSF
  • MAS (Singapore)
  • ASIC (Australia)
  • FCA (UK)
  • MAS (Singapore)
  • IIROC (Canada)
  • FFAJ (Japan)
📍 Year Founded
1978 1996
💳 Minimum Deposit
$ - 0 $, €, £, - 0.
💰 Payment Methods
  • Bank Transfer
  • ACH (US only)
  • Check (US only)
  • Debit Card (US only)
  • BPAY (Australia only)
  • Visa
  • Mastercard
  • Bank Transfer
  • Paypal
💵 Account Base Currencies
23 - USD, EUR, GBP, AUD, CAD, CHF, CNY, CZK, DK, HKD, HUF, INR, ILS, JPY, MXN, NZD, NOK, PLN, RUB, SGD, ZAR, KRW, SEK 9 - USD, EUR, GBP, SGD, CHF, JPY, AUD, CAD, HKD.
🗽 Available to U.S Citizens
Yes Yes
❌ Restricted Countries
AF, SY, SO, SD, LY, NG, BI. 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
Yes No
📊 ECN Account
Yes No
Assets
📚 Available Assets
  • Real stocks, currencies, ETFs, options, futures, bonds, cryptocurrencies
  • CFDs on almost every possible asset class
  • Structured Products

CFDs on currencies, commodities, cryptocurrencies, indices and bonds.

📙 Stocks
78 markets N/A
📘 Currency Pairs
105 68
📗 Commodities
35 markets 13
📕 Indices
13 16
📔 ETFs
13,000+ N/A
💸 Cryptocurrencies
4 4
📒 Bonds
60,000+ 6
📓 Options
33 markets N/A
📗 Futures
32 markets N/A
📝 Notes:

Interactive brokers provides real assets (equities) from more than 100+ markets (exchanges) across the world and also provides CFDs (in allowed regions).

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

From 1 share - except for exchanges that allow fractional trading (US stock exchanges)

N/A
📉 Minimum ETFs Trade Size
N/A for EU Citizens N/A
📈 Minimum Crypto Trade Size

No minimum, but minimum fee is $1.75 per order

Varies by crypto (Eg: 0.01 BTC)
📉 Minimum FX Trade Size
$25,000 (0.25 lots) 1 unit of any currency pair (Eg: 1 Euro, 1 Usd, 1 GBP, etc)
📈 Minimum Commodities Trade Size
Varies per commodity (eg: 1 Ounce of Gold) Varies by Commodity (Eg: 1 Troy ounce of Gold)
📉 Minimum Bonds Trade Size
$1,000 for corporate/muni bonds, $1 million for treasury bonds 1 unit of any Bond contract
📈 Minimum Futures Trade Size
1 contract N/A
📉 Minimum Options Trade Size
1 contract N/A
💪 Retail Leverage
Up to 1:30 Up to 1:30
💪 Professional Leverage
N/A Up to 1:100
✍ Customisable Leverage
No Yes
🎲 Deleveraged Trading
Yes No
🎓 Demo Account
Yes Yes
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
No Yes
📺 MetaTrader 5
No Yes
💻 Web trader
Yes Yes
💻 TradingView Platform
No No
💻 Proprietary Platform
Yes Yes
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
No No
👫 Social Trading
No 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

One free withdrawal per month, subsequent are $10 per withdrawal or equivalent

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

Commissions depend on market and residency:

  • US residents are eligible for zero commission US stock trading. Else, for US stocks it is $0.005/share with a minimum $1 and maximum 1% of the trade value.
  • European stocks have €3 minimum and 0.05% trade value.
  • Forex commissions are volume based starting at 0.20 basis points of trade value or $2 minimum per trade, and going low as 0.08 basis points and $1.
  • Options start at $0.25 per contract and go as low as $0.15 per contract.
  • Futures start at $0.85 per contract and go as low as $0.25 per contract

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 0.1 pips Dynamic - From 0.8 Pips
📉 SP500
Dynamic - From 1 Pip Dynamic - From 30 Pips
📈 GOLD
N/A Dynamic - From 26 Pips
📉 TSLA (Stock CFD)
Dynamic - From $0.50 N/A
📈 XLK (ETF - CFD)
N/A N/A
📉 BTC
N/A Dynamic - From $100
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
Yes No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
Yes Yes
📡 Reuters Feed
Yes No

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