Oanda
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74-89% of retail CFD accounts lose money

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IC Markets
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73.59% of retail CFD accounts lose money

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

Updated Nov 25 2021

Visit

74-89% of retail CFD accounts lose money

Visit

73.59% of retail CFD accounts lose money

Overview

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.

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.

Best For
  • Forex traders of all levels (from beginner to advanced)
  • Professional traders looking for Interbank rates
  • High volume traders that will save great amounts of costs with their low spreads and commissions
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The Good
  • High trustworthiness, regulated by the best regulators in the world
  • Fast, simple and professional trading platforms
  • Competitive spreads in their currency pairs
  • Customisable leverage per asset before opening trades
  • Interbank rates and low commissions
  • Great platform variety
The Bad
  • Extremely limited offering of assets (104)
  • No ability to purchase real stocks or cryptocurrencies, only CFDs
  • Avaliable assets are limited (Also No ETFs)
  • 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 minimum (may take longer) 1 Day
📋 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.

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

  • 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.

🏛 Financial Regulators
Financial Conduct Authority
Australian Securities and Investments Commission
Monetary Authority of Singapore
Investment Industry Regulatory Organization of Canada
Financial Futures Association of Japan
Cyprus Securities and Exchange Commission
Australian Securities and Investments Commission
Financial Services Authority Seychelles
📍 Year Founded
1996 2007
💳 Minimum Deposit
$, €, £, - 0. $200
💰 Payment Methods
Visa
Mastercard
Bank Transfer
Paypal
Visa
Mastercard
Bank Transfer
Bitcoin
Sofort
Neteller
Paypal
Skrill
💵 Account Base Currencies
9 - USD, EUR, GBP, SGD, CHF, JPY, AUD, CAD, HKD. 10 - USD, GBP, EUR, AUD, CHF, JPY, HKD, CAD, SGD, NZD.
🗽 Available to U.S Citizens
Yes No
❌ Restricted Countries
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. US, CA, IL.
📊 STP Account
No Yes
📊 DMA Account
No No
📊 ECN Account
No Yes
Assets
📚 Available Assets
Currencies
Commodities
Indices
Cryptos
CFDs
Stocks
Cryptos
Commodities
Currencies
Indices
CFDs
📙 Stocks
N/A 1600 +
📘 Currency Pairs
68 61
📗 Commodities
13 22
📕 Indices
16 25
📔 ETFs
N/A N/A
💸 Cryptocurrencies
4 18
📒 Bonds
6 11
📓 Options
N/A N/A
📗 Futures
N/A 4
📝 Notes:

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.

All ICMarkets assets are CFDs.
Trading Experience
📈 Minimum Stock Trade Size
N/A Varies by Stock
📉 Minimum ETFs Trade Size
N/A N/A
📈 Minimum Crypto Trade Size
Varies by crypto (Eg: 0.01 BTC) Varies by Cryptocurrency (Eg: 0.01 BTC)
📉 Minimum FX Trade Size
1 unit of any currency pair (Eg: 1 Euro, 1 Usd, 1 GBP, etc) $1,000 - 0.01 Lots
📈 Minimum Commodities Trade Size
Varies by Commodity (Eg: 1 Troy ounce of Gold) Varies by Commodity (Eg: 0.01 Troy ounces of Gold)
📉 Minimum Bonds Trade Size
1 unit of any Bond contract Varies by Bond
📈 Minimum Futures Trade Size
N/A Varies by Future
📉 Minimum Options Trade Size
N/A N/A
💪 Retail Leverage
Up to 1:30 Up to 1:30
💪 Professional Leverage
Up to 1:100 Up to 1:500
✍ 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
Yes No
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
No Yes
👫 Social Trading
No Yes
🔑 Guaranteed Stop-loss
Yes No
🔨 Trailing Stop-loss
Yes Yes
Fees
💰 Inactivity Fee
Yes, $10 after 1 year of inactivity No
💰 Deposit Fees
No No
💰 Withdrawal Fees

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.

No
💰 Commissions

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.

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.

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

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