Comparison of Interactive Brokers and OANDA
| Feature | Interactive Brokers | OANDA |
|---|---|---|
| Broker | ||
| Year Founded | 1977 | 2001 |
| Broker Type | DMA | STP |
| Dealing | A-book | A-book |
| Execution | Market | Market |
| Regulation | SEC, FINRA, FCA, CBI, CIRO, ASIC, SFC, SEBI, JFSA, MAS | NFA, CFTC, ASIC, CIRO, FCA, JFSA, BVIFSC, MAS, KNF |
| Platforms | Trader Workstation (TWS), IBKR Mobile, Client Portal, IBKR GlobalTrader, FXTrader | MetaTrader 4 (MT4), MetaTrader 5 (MT5), TradingView, fxTrade |
| Spread | ⬊ Low | ⬊ Low |
| Maximum Leverage | 1:50 | 1:200 |
| Minimum Deposit | $1 | $1 |
| Base Currencies | USD, EUR, GBP, AUD, CAD, CHF, JPY, HKD, SGD, SEK, NOK, DKK, NZD, PLN, HUF, CZK, MXN, ZAR, TRY, ILS, KRW, CNH, AED, SAR, MYR, TWD | USD, EUR, AUD, CHF, SGD, HKD |
| Funding Methods | Bank Wire, ACH, SEPA/Bank Transfer, Check, Wise/Instarem, Online Bill Pay | Bank Wire, Credit Card, Debit Card, Neteller, Skrill |
| Inactivity Fee | ✖ | $10 per month after 12 months |
| Interest on Margin | ✔ | ✖ |
| Withdrawal Fee | First withdrawal each month free; subsequent bank wires ~ $10 | ✖ |
| Investor Protection | SIPC, FSCS, ICS | UK Financial Services Compensation Scheme (FSCS) |
| Protection Size | $500 000 / £85 000 | £85 000 |
| Segregated Accounts | ✔ | ✔ |
| Negative Balance Protection | ✔ | ✔ |
| Guaranteed Stop Loss | ✖ | ✔ |
| Copy Trading | ✖ | ✖ |
| VPS | ✖ | ✔ |
| MAM/PAMM | ✖ | ✖ |
| Scalping Allowed | ✔ | ✔ |
| EAs/Robots | ✔ | ✔ |
| Depth of Market (DOM) | ✔ | ✔ |
| Tradable Assets (CFDs) | Stocks, ETFs, Options, Futures, Forex, Bonds, Mutual Funds, Cryptocurrencies, Commodities, CFDs | Currencies, Indices, Stocks, Cryptocurrencies, Metals, Energies, Soft Commodities |
| Review | Interactive Brokers Review | OANDA Review |
About Interactive Brokers
Interactive Brokers (IBKR) is a global multi-asset broker founded in 1977. Regulated on four continents, IBKR offers direct market access to 150+ exchanges in 33 countries, tight pricing on FX, and some of the lowest commissions in the industry. Clients trade via the powerful Trader Workstation, streamlined Client Portal, or mobile apps, choose from 20+ base currencies, and benefit from SIPC/FSCS investor protection and ESMA-mandated negative balance protection for CFDs.
Pros
- Tier-1 regulation in the US, UK, EU, Canada, Australia, Asia
- Access to 150+ markets across 33 countries and 26 currencies
- Ultra-low spreads and volume-based commissions
- Advanced Trader Workstation plus simple mobile & web platforms
- No minimum deposit for cash accounts and no inactivity fee
- Negative balance protection for EU retail CFD traders
Cons
- Minimum FX order size ~ 20 000 units limits small accounts
- Trader Workstation has a steep learning curve
- No credit/debit-card funding options
- Customer support is not 24/7
About OANDA
OANDA is a globally recognized forex broker with a solid reputation for providing robust trading platforms and tools tailored to both beginner and professional traders. Established in 2001, OANDA has consistently positioned itself as a trusted broker, offering a wide range of trading instruments, including forex, indices, commodities, and cryptocurrencies. The broker is known for its user-friendly interface, competitive spreads, and advanced analytical tools, making it a popular choice among traders seeking reliable market access. OANDA is regulated by top-tier authorities like the CFTC, FCA, and ASIC, ensuring a high level of trust and transparency in its operations.
Pros
- Regulated by top-tier authorities (CFTC, FCA, ASIC)
- Competitive spreads and reliable pricing
- Access to both MetaTrader 4 (MT4) and a proprietary platform
- User-friendly trading interface suitable for beginners
- Comprehensive educational resources and market analysis tools
- A wide range of trading instruments, including forex, indices, commodities, and cryptocurrencies
- No minimum deposit requirement for most accounts
- Strong focus on transparency and customer support
Cons
- Limited account types compared to some competitors
- Some advanced tools may require additional subscriptions
Interactive Brokers & OANDA Regulation
| Feature | Interactive Brokers | OANDA |
|---|---|---|
Companies | Interactive Brokers LLC, Interactive Brokers (U.K.) Ltd, Interactive Brokers Ireland Ltd, Interactive Brokers Canada Inc., Interactive Brokers Australia Pty Ltd, Interactive Brokers Hong Kong Ltd, Interactive Brokers India Pvt. Ltd, Interactive Brokers Securities Japan Inc, Interactive Brokers Singapore Pte. Ltd | OANDA Corporation, OANDA Australia Pty Ltd, OANDA (Canada) Corporation ULC, OANDA Europe Limited, OANDA Japan Co., Ltd, OANDA Global Markets Ltd, OANDA Asia Pacific Pte Ltd, OANDA TMS Brokers S.A. |
Countries | United States, United Kingdom, Ireland, Canada, Australia | United States, Australia, Canada, United Kingdom, Japan, British Virgin Islands, Singapore, Poland |
Regulators | SEC, FINRA, FCA, CBI, CIRO, ASIC, SFC, SEBI, JFSA, MAS | NFA, CFTC, ASIC, CIRO, FCA, JFSA, BVIFSC, MAS, KNF |
Investor Protection | SIPC, FSCS, ICS | UK Financial Services Compensation Scheme (FSCS) |
Investor Protection Size | $500 000 / £85 000 | £85 000 |
Publicly Traded | ||
Segregated Accounts | ||
Guaranteed Stop Loss | ||
Negative Balance Protection |
Companies
Interactive Brokers
Interactive Brokers LLC, Interactive Brokers (U.K.) Ltd, Interactive Brokers Ireland Ltd, Interactive Brokers Canada Inc., Interactive Brokers Australia Pty Ltd, Interactive Brokers Hong Kong Ltd, Interactive Brokers India Pvt. Ltd, Interactive Brokers Securities Japan Inc, Interactive Brokers Singapore Pte. Ltd
OANDA
OANDA Corporation, OANDA Australia Pty Ltd, OANDA (Canada) Corporation ULC, OANDA Europe Limited, OANDA Japan Co., Ltd, OANDA Global Markets Ltd, OANDA Asia Pacific Pte Ltd, OANDA TMS Brokers S.A.
Countries
Interactive Brokers
United States, United Kingdom, Ireland, Canada, Australia
OANDA
United States, Australia, Canada, United Kingdom, Japan, British Virgin Islands, Singapore, Poland
Regulators
Interactive Brokers
SEC, FINRA, FCA, CBI, CIRO, ASIC, SFC, SEBI, JFSA, MAS
OANDA
NFA, CFTC, ASIC, CIRO, FCA, JFSA, BVIFSC, MAS, KNF
Investor Protection
Interactive Brokers
SIPC, FSCS, ICS
OANDA
UK Financial Services Compensation Scheme (FSCS)
Investor Protection Size
Interactive Brokers
$500 000 / £85 000
OANDA
£85 000
Publicly Traded
Interactive Brokers
OANDA
Segregated Accounts
Interactive Brokers
OANDA
Guaranteed Stop Loss
Interactive Brokers
OANDA
Negative Balance Protection
Interactive Brokers
OANDA
Account Types
| Account | Interactive Brokers | OANDA |
|---|---|---|
STP Account | ||
| Account Name | — | Standard |
| Min Deposit | — | $1 |
| Lot Size | — | 0.01 |
| Spread Type | — | Floating |
| Execution | — | Market |
| Min Spread | — | 0.5 |
| Fee | — | No |
| Max Leverage | — | 1:200 |
| Stop Out | — | 50% |
| Margin Call | — | 100% |
DMA Account | ||
| Account Name | IBKR Pro | — |
| Min Deposit | $0 | — |
| Lot Size | 0.01 | — |
| Spread Type | Floating | — |
| Execution | Market | — |
| Min Spread | 0.1 | — |
| Fee | $4 per 1 lot | — |
| Max Leverage | 1:50 | — |
| Stop Out | 50% | — |
| Margin Call | 100% | — |
| Additional Features | ||
| Demo Account | ||
| VIP Account | ||
| Swap-Free Account | ||
| Copy Trading | ||
| VPS | ||
| PAMM/MAM Accounts | ||
STP Account
Account Name
Interactive Brokers
—
OANDA
Standard
Min Deposit
Interactive Brokers
—
OANDA
$1
Lot Size
Interactive Brokers
—
OANDA
0.01
Spread Type
Interactive Brokers
—
OANDA
Floating
Execution
Interactive Brokers
—
OANDA
Market
Min Spread
Interactive Brokers
—
OANDA
0.5
Fee
Interactive Brokers
—
OANDA
No
Max Leverage
Interactive Brokers
—
OANDA
1:200
Stop Out
Interactive Brokers
—
OANDA
50%
Margin Call
Interactive Brokers
—
OANDA
100%
DMA Account
Account Name
Interactive Brokers
IBKR Pro
OANDA
—
Min Deposit
Interactive Brokers
$0
OANDA
—
Lot Size
Interactive Brokers
0.01
OANDA
—
Spread Type
Interactive Brokers
Floating
OANDA
—
Execution
Interactive Brokers
Market
OANDA
—
Min Spread
Interactive Brokers
0.1
OANDA
—
Fee
Interactive Brokers
$4 per 1 lot
OANDA
—
Max Leverage
Interactive Brokers
1:50
OANDA
—
Stop Out
Interactive Brokers
50%
OANDA
—
Margin Call
Interactive Brokers
100%
OANDA
—
Additional Features
Demo Account
Interactive Brokers
OANDA
VIP Account
Interactive Brokers
OANDA
Swap-Free Account
Interactive Brokers
OANDA
Copy Trading
Interactive Brokers
OANDA
VPS
Interactive Brokers
OANDA
PAMM/MAM Accounts
Interactive Brokers
OANDA
Funding and Fees
| Feature | Interactive Brokers | OANDA |
|---|---|---|
Base currencies | USD, EUR, GBP, AUD, CAD, CHF, JPY, HKD, SGD, SEK, NOK, DKK, NZD, PLN, HUF, CZK, MXN, ZAR, TRY, ILS, KRW, CNH, AED, SAR, MYR, TWD | USD, EUR, AUD, CHF, SGD, HKD |
Deposit and withdrawal methods | Bank Wire, ACH, SEPA/Bank Transfer, Check, Wise/Instarem, Online Bill Pay | Bank Wire, Credit Card, Debit Card, Neteller, Skrill |
Inactivity fee | $10 per month after 12 months | |
Interest on margin | ||
Withdrawal fee | First withdrawal each month free; subsequent bank wires ~ $10 |
Base currencies
Interactive Brokers
USD, EUR, GBP, AUD, CAD, CHF, JPY, HKD, SGD, SEK, NOK, DKK, NZD, PLN, HUF, CZK, MXN, ZAR, TRY, ILS, KRW, CNH, AED, SAR, MYR, TWD
OANDA
USD, EUR, AUD, CHF, SGD, HKD
Deposit and withdrawal methods
Interactive Brokers
Bank Wire, ACH, SEPA/Bank Transfer, Check, Wise/Instarem, Online Bill Pay
OANDA
Bank Wire, Credit Card, Debit Card, Neteller, Skrill
Inactivity fee
Interactive Brokers
OANDA
$10 per month after 12 months
Interest on margin
Interactive Brokers
OANDA
Withdrawal fee
Interactive Brokers
First withdrawal each month free; subsequent bank wires ~ $10
OANDA
Trading Platforms and Conditions
| Feature | Interactive Brokers | OANDA |
|---|---|---|
Trading Platforms | Trader Workstation (TWS), IBKR Mobile, Client Portal, IBKR GlobalTrader, FXTrader | MetaTrader 4 (MT4), MetaTrader 5 (MT5), TradingView, fxTrade |
Execution Speed | 4 ms | 12 ms |
Scalping | ||
Expert Advisors (EAs) | ||
Depth of Market (DOM) | ||
Spread | low | low |
Trading Platforms
Interactive Brokers
Trader Workstation (TWS), IBKR Mobile, Client Portal, IBKR GlobalTrader, FXTrader
OANDA
MetaTrader 4 (MT4), MetaTrader 5 (MT5), TradingView, fxTrade
Execution Speed
Interactive Brokers
4 ms
OANDA
12 ms
Scalping
Interactive Brokers
OANDA
Expert Advisors (EAs)
Interactive Brokers
OANDA
Depth of Market (DOM)
Interactive Brokers
OANDA
Spread
Interactive Brokers
low
OANDA
low
Trading Assets
| Asset | Interactive Brokers | OANDA |
|---|---|---|
Currencies | 87 | 48 |
Indices | 23 | 18 |
Stocks | 8139 | 1607 |
Cryptocurrencies | 11 | 18 |
Bonds | 87 | 0 |
Metals | 4 | 3 |
Energies | 10 | 3 |
Soft Commodities | 15 | 4 |
ETFs | 532 | 0 |
Currencies
Interactive Brokers
87
OANDA
48
Indices
Interactive Brokers
23
OANDA
18
Stocks
Interactive Brokers
8139
OANDA
1607
Cryptocurrencies
Interactive Brokers
11
OANDA
18
Bonds
Interactive Brokers
87
OANDA
0
Metals
Interactive Brokers
4
OANDA
3
Energies
Interactive Brokers
10
OANDA
3
Soft Commodities
Interactive Brokers
15
OANDA
4
ETFs
Interactive Brokers
532
OANDA
0
Education and Analytics
| Feature | Interactive Brokers | OANDA |
|---|---|---|
Economic Calendar | ||
Indicators | ||
Robots | ||
Signals | ||
Autochartist | ||
Expert Analytics | ||
News Feed | ||
Education Articles | ||
Webinars | ||
Seminars |
Economic Calendar
Interactive Brokers
OANDA
Indicators
Interactive Brokers
OANDA
Robots
Interactive Brokers
OANDA
Signals
Interactive Brokers
OANDA
Autochartist
Interactive Brokers
OANDA
Expert Analytics
Interactive Brokers
OANDA
News Feed
Interactive Brokers
OANDA
Education Articles
Interactive Brokers
OANDA
Webinars
Interactive Brokers
OANDA
Seminars
Interactive Brokers
OANDA
Customer Support
| Contact | Interactive Brokers | OANDA |
|---|---|---|
Email | help@interactivebrokers.com | frontdesk@oanda.com |
Phone | +18774422757 | +442031512050 |
Facebook | ||
LinkedIn | ||
YouTube | YouTube | YouTube |
Instagram | ||
Twitter |
Email
Interactive Brokers
OANDA
Phone
Interactive Brokers
OANDA
Which Broker is Better?
After comparing Interactive Brokers and OANDA, OANDA comes out ahead as our overall pick. It ranks higher in our internal scoring and delivers a stronger balance of pricing (spreads/fees), platform experience, and product range. That said, the runner-up may still be a better fit if you prioritize specific needs—like a particular account type, funding method, or niche instruments. This is not financial advice; always choose a broker that matches your goals and local regulatory requirements.
More Comparisons
Andriy Bondarenko
Broker Analyst
Andriy is a seasoned expert in broker reviews with over a decade of experience in finance and trading. Under his leadership, the team produces in-depth and unbiased analyses of leading trading platforms.