IC Markets
OANDA
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Overview
IC Markets was founded in 2007 and is headquartered in Australia, while OANDA was established in 1996 and is based in United States, Canada. IC Markets holds licences including Australian Securities and Investment Commission (ASIC), while OANDA is regulated by Financial Conduct Authority (FCA) among others. IC Markets serves 60,000+ clients worldwide; OANDA has 10,000+. The minimum deposit is $200 at IC Markets and $1 at OANDA.
| Feature | IC Markets | OANDA |
|---|---|---|
| Min. Deposit | $200 | $1 |
| Regulation | Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC) |
| Founded | 2007 | 1996 |
| Country | Australia | United States, Canada |
| Clients | 60,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between IC Markets and OANDA, directly affecting your bottom line as a trader. OANDA has a lower barrier to entry with a minimum deposit of $1 (vs $200 at IC Markets). Neither broker charges withdrawal fees. IC Markets charges deposit fees; OANDA does not. Overall, OANDA scores higher on fees in our assessment.
| Feature | IC Markets | OANDA |
|---|---|---|
| Min. Deposit | $200 | $1 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | No |
Platforms
IC Markets offers MT4, MT5, cTrader, while OANDA supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. IC Markets supports social and copy trading features, which OANDA does not offer. The two brokers are closely matched on platform offering.
| Feature | IC Markets | OANDA |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac | MT4, OANDA Desktop, OANDA Web, OANDA Mobile |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how IC Markets and OANDA compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. IC Markets scores higher overall in education and research.
| Feature | IC Markets | OANDA |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. IC Markets accepts 5 of the tracked payment methods (bank transfer, credit/debit card, PayPal, Skrill, Neteller), while OANDA supports 2 (bank transfer, credit/debit card). IC Markets uniquely supports PayPal and Skrill and Neteller among the two brokers. IC Markets scores higher on deposit and withdrawal flexibility.
| Feature | IC Markets | OANDA |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | No |
| Skrill | Yes | No |
| Neteller | Yes | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both IC Markets and OANDA offer live chat support. Both provide phone support. Email support is available at both brokers. IC Markets supports 8 languages and OANDA supports 2, giving IC Markets broader global reach. Both brokers are comparable on support quality.
| Feature | IC Markets | OANDA |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more | English, and Chinese |