IG vs OANDA
Can't decide between IG 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
IG and OANDA are both well-established forex brokers, but they serve different types of traders. IG scores 99/100 in our TrustMetrics™ system, edging ahead of OANDA's 96/100.
On pricing, IG offers tighter EUR/USD spreads (0.7 pips vs 1.2 pips). IG supports IG Platform, MT4, ProRealTime, L2 Dealer while OANDA offers OANDA Trade, MT4, TradingView, giving IG an edge in platform diversity.
For regulation, IG holds licenses from FCA, ASIC, CFTC, MAS 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
IG scores higher in our TrustMetrics system (99/100) compared to OANDA (96/100), making it the safer choice.
Lowest Spreads
IG offers better pricing with an average EUR/USD spread of 0.7 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 | IG | OANDA |
|---|---|---|
Trust Score Our proprietary safety rating based on regulation and track record. | 99/100 ✓ | 96/100 |
Spreads From The lowest possible spread available on their premium accounts. | 0.6 pips | 1.0 pips |
Avg EUR/USD Spread The typical spread experienced during normal market hours. | 0.7 pips ✓ | 1.2 pips |
| Commission | $0 | $0 |
Execution Speed The average time it takes for an order to be filled. | 22ms | 30ms |
| Max Leverage | 1:200 | 1:50 |
| Minimum Deposit | $250 | $0 ✓ |
| Instruments | 17,000+ | 120+ |
| Account Types | CFD, Spread Betting, DMA | Standard, Advanced Trader, Premium |
| Platforms | IG Platform, MT4, ProRealTime, L2 Dealer | OANDA Trade, MT4, TradingView |
| Top Regulators | FCA, ASIC, CFTC, MAS | CFTC, FCA, ASIC, CIRO |
Withdrawal Speed The average processing time before funds hit your account. | 1-3 business days | 1-3 business days |
Inactivity Fee Fees charged if you do not place any trades for a specific period. | $18 per month (after 24 months) | $10 per month (after 12 months) |
| Customer Support | 24/5 Live Chat, Email, Phone | 24/5 Live Chat, Email |
Which Broker Should You Choose?
Choose IG if...
- ✓You need access to a massive range of instruments
- ✓You are a beginner and value education and simplicity
- ✓Maximum regulatory protection is your top priority
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
IG Overview
Advantages
- ✓ Unmatched regulatory trust with 6+ Tier-1 licenses
- ✓ Massive selection of 17,000+ tradable instruments
- ✓ World-class educational resources (IG Academy)
- ✓ Premium proprietary trading platform with guaranteed stops
Drawbacks
- × No MT5 platform available
- × Spreads can be wider than raw ECN competitors
- × High minimum deposit for bank transfers
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: Sep 2026🛡️ Safety & Regulation
Tier-1 Licenses
💸 Pricing Economics
⚡ Technical Capabilities & Execution
Platform Support
- MT4✓✓
- MT5✗✗
- cTrader✗✗
- TradingView✗✓
IG Execution
Their proprietary web platform is exceptional. We used it exclusively for a month and found its charting tools and guaranteed stop-loss features (which protect you from catastrophic slippage) to be industry-leading. If you prefer MetaTrader, MT4 is available, though oddly, MT5 is missing from their lineup.
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: IG vs OANDA
- ✓ Instrument Variety
- ✓ Regulatory Trust
- ✓ Research
- ✓ UK Traders
- ✓ Tighter EUR/USD spreads (0.7 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.
Related Content
InstaForex Broker Review 2026: Account Types, Spreads, and Features
A comprehensive review of InstaForex detailing their Cent accounts, high leverage options, and cryptocurrency funding capabilities.
Broker Match Quiz
Find the perfect forex broker based on your trading style and preferences.
FTMO Futures Launch (Beta): Growth vs Pro Accounts Explained
FTMO has officially entered the futures market. We breakdown the new Growth and Pro accounts, EOD trailing drawdowns, and payout rules in 2026.
FundedNext Labs FNL:003: Instant Futures Funding Review
FundedNext's FNL:003 offers instant futures funding with no evaluation. Learn how the EOD trailing drawdown and 20% consistency rule work before you buy.