IC Markets vs OANDA (2026) — Which Is Better?
Compare IC Markets and OANDA — features, pricing, pros and cons.
Fees, feature availability, and plan details come from each provider's current documentation. If you're about to act on this, confirm the specific numbers on the vendor's site first. Methodology →
At-a-Glance
Higher Rated
IC Markets (4.5)
More Affordable
IC Markets (Free)
IC Markets
True ECN forex broker with the lowest average spreads in the industry, deep liquidity, and support for MT4/MT5/cTrader.
OANDA
Trusted forex broker with competitive spreads, advanced trading tools, and no minimum deposit requirement.
Spread, Regulation & Feature Breakdown
| Feature | IC Markets | OANDA |
|---|---|---|
| Rating | ★ 4.5 | ★ 4.3 |
| Starting Price | Free | Free |
| Free Tier | Yes | Yes |
| Markets | bonds, forex, crypto, stocks, indices, commodities, futures | crypto, CFDs, forex |
| AI Analysis | ✗ | ✗ |
| Backtesting | ✓ | ✗ |
| Paper Trading | ✓ | ✓ |
| Price Alerts | ✓ | ✓ |
| Mobile App | ✓ | ✓ |
| API Access | ✓ | ✓ |
| Social Features | ✗ | ✗ |
| Broker Integration | ✓ | ✓ |
| Custom Indicators | ✓ | ✓ |
| Automated Trading | ✓ | ✓ |
| Trade Journaling | ✗ | ✗ |
| Performance Analytics | ✗ | ✓ |
| Risk Management | ✓ | ✓ |
| News Feed | ✗ | ✓ |
| Education Content | ✓ | ✓ |
Forex Broker Head-to-Head
IC Markets (4.5/5) and OANDA (4.3/5) are both popular forex brokers with contrasting strengths. IC Markets is a true ECN broker with the industry's lowest average spreads and sub-40ms execution speeds. OANDA offers micro-lot trading, no minimum deposit, and regulation across multiple major jurisdictions including the US.
IC Markets' advantage is raw execution quality — direct market access, no dealing desk, and spreads that start from 0.0 pips on the Raw Spread account. OANDA's differentiator is flexibility and accessibility: micro-lot trading for precise position sizing, no deposit minimum, and US availability that IC Markets cannot offer.
Scalpers, day traders, and high-frequency traders outside the US who need the tightest possible spreads should choose IC Markets. Traders who value micro-lot flexibility, no minimum deposits, or who are based in the US should go with OANDA. IC Markets is the better technical choice, but OANDA's US regulation and position-sizing flexibility make it the practical choice for many traders.
IC Markets: Pros & Cons
Pros
- + Lowest average spreads in the industry
- + True ECN execution with no dealing desk
- + Sub-40ms execution speeds
- + Supports all trading styles including scalping
Cons
- - Not available to US residents
- - Customer support can be slow during peak times
- - Limited research and analysis tools
OANDA: Pros & Cons
Pros
- + No minimum deposit on Standard account
- + Micro-lot trading for precise position sizing
- + Regulated in multiple major jurisdictions
- + TradingView integration available
Cons
- - Standard account spreads are above average
- - Core Pricing requires $10,000 minimum
- - Product range limited compared to multi-asset brokers
- - No crypto trading in most regions