Oanda
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78.3% of retail CFD accounts lose money.

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Interactive Brokers
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Investing in financial products involves taking risk.

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

Updated Jul 12 2022

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78.3% of retail CFD accounts lose money.

Visit

Investing in financial products involves taking risk.

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.

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.

Best For
  • Forex traders of all levels (from beginner to advanced)
  • 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
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

7

Other Licenses

1

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

10

Other Licenses

1

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • CFTC (U.S)
  • NFA (U.S)
  • ASIC (Australia)
  • FCA (UK)
  • MAS (Singapore)
  • IIROC (Canada)
  • FFAJ (Japan)
  • BVI (British Virgin Islands)
  • 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)
The Good
  • High trustworthiness, regulated by the best regulators in the world
  • Fast, simple and professional trading platforms
  • Competitive spreads in their currency pairs
  • High regulation
  • Exceptional number of investment instruments (Above 100,000+)
  • Competitive discount fees
The Bad
  • Extremely limited offering of assets (104)
  • No ability to purchase real stocks or cryptocurrencies, only CFDs
  • Complicated account opening process
  • Platforms are not beginner friendly
  • Narrow choice of deposit options (Mostly bank transfer)
Status
Operational Operational
Recent News

No fresh news at the moment. Check again soon!

No fresh news at the moment. Check again soon!

Key Data
⌛ Account Opening Time
1 day minimum (may take longer) 1 - 3 Days
📋 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.

📍 Year Founded
1996 1978
💳 Minimum Deposit
$, €, £, - 0. $ - 0
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Paypal
  • Bank Transfer
  • ACH (US only)
  • Check (US only)
  • Debit Card (US only)
  • BPAY (Australia only)
💵 Account Base Currencies
9 - USD, EUR, GBP, SGD, CHF, JPY, AUD, CAD, HKD. 23 - USD, EUR, GBP, AUD, CAD, CHF, CNY, CZK, DK, HKD, HUF, INR, ILS, JPY, MXN, NZD, NOK, PLN, RUB, SGD, ZAR, KRW, SEK
🗽 Available to U.S Citizens
Yes Yes
❌ 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. AF, SY, SO, SD, LY, NG, BI.
📊 STP Account
No Yes
📊 DMA Account
No Yes
📊 ECN Account
Yes Yes
Assets
📚 Available Assets

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

  • Real stocks, currencies, ETFs, options, futures, bonds, cryptocurrencies
  • CFDs on almost every possible asset class
  • Structured Products
📙 Stocks
N/A 78 markets
📘 Currency Pairs
68 105
📗 Commodities
13 35 markets
📕 Indices
16 13
📔 ETFs
N/A 13,000+
💸 Cryptocurrencies
4 4
📒 Bonds
6 60,000+
📓 Options
N/A 33 markets
📗 Futures
N/A 32 markets
📝 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.

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

Trading Experience
📈 Minimum Stock Trade Size
N/A

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

📉 Minimum ETFs Trade Size
N/A N/A for EU Citizens
📈 Minimum Crypto Trade Size
Varies by crypto (Eg: 0.01 BTC)

No minimum, but minimum fee is $1.75 per order

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

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

💰 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.

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

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