IC Markets vs OANDA
Can't decide between IC Markets and OANDA? We've put both brokers head-to-head. Compare their spreads, regulation, platforms, and fees below.
Last updated: May 10, 2026
Executive Summary
IC Markets and OANDA are both well-established forex brokers, but they serve different types of traders. IC Markets scores 97/100 in our TrustMetrics™ system, edging ahead of OANDA's 96/100.
On pricing, IC Markets offers tighter EUR/USD spreads (0.02 pips vs 1.2 pips). IC Markets supports MT4, MT5, cTrader while OANDA offers OANDA Trade, MT4, TradingView.
For regulation, IC Markets holds licenses from ASIC, CySEC, FSA while OANDA is regulated by CFTC, FCA, ASIC, CIRO. Both brokers offer segregated client funds and are considered safe for retail trading.
The Verdicts
Most Trusted
IC Markets scores higher in our TrustMetrics system (97/100) compared to OANDA (96/100), making it the safer choice.
Lowest Spreads
IC Markets offers better pricing with an average EUR/USD spread of 0.02 pips, beating the 1.2 pip average of its competitor.
Best for Beginners
With a lower minimum deposit requirement of $0, OANDA is the more accessible option for new traders.
Detailed Comparison
| Feature | IC Markets | OANDA |
|---|---|---|
Trust Score Our proprietary safety rating based on regulation and track record. | 97/100 ✓ | 96/100 |
Spreads From The lowest possible spread available on their premium accounts. | 0.0 pips | 1.0 pips |
Avg EUR/USD Spread The typical spread experienced during normal market hours. | 0.02 pips ✓ | 1.2 pips |
| Commission | $7.00/lot | $0 |
Execution Speed The average time it takes for an order to be filled. | 18ms | 30ms |
| Max Leverage | 1:500 | 1:50 |
| Minimum Deposit | $200 | $0 ✓ |
| Instruments | 2,250+ | 120+ |
| Account Types | Standard, Raw Spread, cTrader Raw | Standard, Advanced Trader, Premium |
| Platforms | MT4, MT5, cTrader | OANDA Trade, MT4, TradingView |
| Top Regulators | ASIC, CySEC, FSA | CFTC, FCA, ASIC, CIRO |
Withdrawal Speed The average processing time before funds hit your account. | 1-2 business days | 1-3 business days |
Inactivity Fee Fees charged if you do not place any trades for a specific period. | $0 (No inactivity fee) | $10 per month (after 12 months) |
| Customer Support | 24/7 Live Chat, Email, Phone | 24/5 Live Chat, Email |
Which Broker Should You Choose?
Choose IC Markets if...
- ✓You need the tightest possible spreads for scalping
- ✓You prefer cTrader's advanced order management
- ✓You are a scalper or algorithmic trader
Choose OANDA if...
- ✓You want to start with a very low minimum deposit
- ✓You want to trade directly from TradingView charts
- ✓Maximum regulatory protection is your top priority
IC Markets Overview
Advantages
- ✓ True 0.0 pip spreads during London and NY sessions
- ✓ Industry-leading 18ms execution speed
- ✓ Free Equinix NY4 VPS for active traders
- ✓ No trading restrictions (perfect for EAs)
- ✓ Transparent $6/lot commission on cTrader
Drawbacks
- × No proprietary trading platform or TradingView integration
- × Education section is basic compared to competitors
- × No deposit bonus or welcome offers
OANDA Overview
Advantages
- ✓ Accepts US clients and is heavily regulated globally
- ✓ No minimum deposit requirement
- ✓ Native TradingView integration
- ✓ Advanced charting and elite market analysis
Drawbacks
- × Smaller product catalog compared to IG or CMC Markets
- × Spreads on the standard account are relatively high
- × No MT5 platform
Algorithmic Deep Dive
Data Updated: Aug 2026🛡️ Safety & Regulation
Tier-1 Licenses
💸 Pricing Economics
⚡ Technical Capabilities & Execution
Platform Support
- MT4✓✓
- MT5✓✗
- cTrader✓✗
- TradingView✗✓
IC Markets Execution
IC Markets offers MetaTrader 4, MetaTrader 5, and cTrader. During our testing, the cTrader platform stood out for its clean interface, advanced order types, and full Depth of Market visibility. The MT5 offering is equally robust, with seamless EA integration and no restrictions on trading strategies. We experienced zero platform downtime during our entire testing period.
OANDA Execution
Our testing of OANDA's platform offerings confirmed stable performance with reliable execution speeds. The available platforms provide a good balance of analytical tools and ease of use, suitable for both manual and algorithmic trading strategies.
The Bottom Line: IC Markets vs OANDA
- ✓ Scalping
- ✓ Algorithmic Trading
- ✓ Low Spreads
- ✓ ECN Trading
- ✓ Tighter EUR/USD spreads (0.02 pips)
- ✓ US Traders
- ✓ API Trading
- ✓ No Minimum Deposit
- ✓ TradingView
- ✓ No minimum deposit
Both brokers are featured in our top broker rankings. Your choice should depend on your specific trading style, preferred platform, and geographical location.
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