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 | 97/100 | 96/100 |
| Spreads From | 0.0 pips | 1.0 pips |
| Avg EUR/USD Spread | 0.02 pips | 1.2 pips |
| Commission | $7.00/lot | $0 |
| Execution Speed | 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 | 1-2 business days | 1-3 business days |
| Inactivity Fee | $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?
IChoose 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
OChoose 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 Pros & Cons
Pros
- ✓ 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
Cons
- × No proprietary trading platform or TradingView integration
- × Education section is basic compared to competitors
- × No deposit bonus or welcome offers
OANDA Pros & Cons
Pros
- ✓ Accepts US clients and is heavily regulated globally
- ✓ No minimum deposit requirement
- ✓ Native TradingView integration
- ✓ Advanced charting and elite market analysis
Cons
- × Smaller product catalog compared to IG or CMC Markets
- × Spreads on the standard account are relatively high
- × No MT5 platform
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.
Frequently Asked Questions
Which is safer: IC Markets or OANDA?
IC Markets scores higher in our TrustMetrics system (97/100) compared to OANDA (96/100), making it the safer choice.
Who has lower spreads: IC Markets or OANDA?
IC Markets offers better pricing with an average EUR/USD spread of 0.02 pips, beating the 1.2 pip average of its competitor.
Which has a lower minimum deposit: IC Markets or OANDA?
With a lower minimum deposit requirement of $0, OANDA is the more accessible option for new traders.
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