Comparing OANDA and Forex.com
A 2025 Broker Comparison
In the dynamic world of Forex trading, selecting the right broker is a critical decision that can significantly impact your trading experience and success. Two prominent names in this space are Oanda and Interactive Brokers. Both brokers have carved out distinct niches, catering to different types of traders with unique features and strengths. This article provides an in-depth comparison of these two brokers, focusing on key features, account types, portfolio expansion opportunities, customer support, regulatory compliance, and fees.
Oanda vs Interactive Brokers: Key Features Breakdown
OANDA Features
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Spreads: Starts from 0.92 pip (EUR/USD)
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Leverage: Up to 50:1 (Varies by region)
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Platforms: fxTrade, MetaTrader 4 (MT4), MetaTrader 5 (MT5)
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Minimum Deposit: $0
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Commissions: None (spread-based)
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Customer Support: 24/5 via phone, email, and live chat
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Regulation: CFTC, FCA, IIROC
Interactive Broker Features
Spreads: Starts from 0.92 pip (EUR/USD)
Leverage: Up to 50:1 (Varies by region)
Platforms: fxTrade, MetaTrader 4 (MT4), MetaTrader 5 (MT5)
Minimum Deposit: $0
Commissions: None (spread-based)
Customer Support: 24/5 via phone, email, and live chat
Regulation: CFTC, FCA, IIROC
Oanda vs Interactive Brokers: Key Features Breakdown
- Forex, Indices, Commodities, Crypto, Metals
- Leverage: Up to 1:50 (Retail)
- Minimum Deposit: $0
- Commission-Free Deposits
- MetaTrader 4 & 5
- cTrader: No
- Social Trading: Not Available
- ECN/Raw Spreads: No
- Forex, Indices, Shares, Commodities, Crypto
- Leverage: Up to 50:1 for Forex majors (varies by jurisdiction).
- Minimum Deposit: $0 for most accounts, but $25,000 for margin trading.
- Copy Trading: Yes
- Commission-Free Deposits: Available for some methods.
- MetaTrader 4 & 5
- cTrader: No
- ECN/Raw Spreads: No
Oanda vs Interactive Brokers: Account Type Comparison
Both brokers offer standard accounts, but Interactive Brokers provides a broader range of specialized accounts:
Oanda offers a straightforward account setup with no minimum deposit, making it accessible to new traders. It supports Islamic accounts and provides a demo account for practice, which is beneficial for beginners.
Interactive Brokers offers over 10 different account types, including family, small business, and proprietary trading group accounts. This variety caters to diverse trader needs, from individual investors to institutional clients.
Oanda
Feature | Standard Account ($) | Elite Trader Loyalty Program ($) |
Minimum volume trading requirement | ❌ | From 10M |
Rebate per million traded | ❌ | From $5 |
68 FX pairs |  | |
Dedicated relationship manager |  | |
OANDA Web platform and mobile apps, plus TradingView and MT4 | | |
Monthly TradingView subscription reimbursement | | |
Unlimited free wire transfers | | |
Core pricing + commissions | | |
Spread-only pricing | | |
API trading | | |
24/5 support | | |
Variable contract sizes (as low as 1 unit) | | |
Open order indicator | Updates every 20 minutes | Updates every 5 minutes |
Priority service queues | | |
Interactive Brokers
Account Type | Description |
Individual | Single account holder with full control over assets and trading functions. |
Joint | Two account holders with shared access, available in different ownership structures. |
Trust | Managed by a trustee on behalf of beneficiaries. |
IRA | Individual Retirement Account for U.S. tax residents. |
UGMA/UTMA | Custodial accounts for minors, managed by a designated custodian. |
Non-Professional Advisor | Exempt advisors managing up to 15 client accounts under a master account. |
Family Office | Master account managing multiple linked client accounts. |
Small Business | Accounts for corporations, partnerships, LLCs, and other business entities. |
Advisor | Registered advisors managing client accounts with trading and fee collection options. |
Money Manager | Professional traders managing funds on behalf of advisors and clients. |
Broker & FCM | Fully disclosed broker accounts providing trade execution and advisory services. |
Proprietary Trading Group | Accounts for proprietary firms with multiple trading strategies and risk management setups. |
Hedge & Mutual Fund | Single and multi-fund structures for investment managers. |
Compliance Officers | Accounts for organizations monitoring employee trading activity. |
Administrators | Third-party administrators providing reporting and management services for institutional accounts. |
Institutional Hedge Fund Investors | Institutions accessing hedge funds through IB’s marketplace. |
Expanding Your Portfolio with Oanda & Interactive Brokers
Oanda is ideal for traders focusing on Forex and spread betting, offering a robust platform for these markets. It provides real-time market data and analysis tools, which are essential for making informed trading decisions.
Interactive Brokers provides access to a vast array of financial instruments, including stocks, bonds, ETFs, and futures, making it suitable for traders looking to diversify across multiple markets. Its global reach allows traders to access over 135 markets in 33 countries.
Portfolio Diversification Strategies
Oanda
- Forex Trading: Focus on currency pairs with tight spreads and competitive leverage.
- Spread Betting: Leverage financial markets without owning the underlying assets.
Interactive Brokers
- Stock Trading: Access to global stock markets with competitive commissions.
- Options Trading: Hedge positions or speculate on price movements with options contracts.
- Futures Trading: Trade futures contracts on commodities, indices, and currencies.
SCORECARD SHOWDOWN: OANDA vs Interactive Brokers
Forex Focus
5.0
Market Access
4.0
Fees
4.0
Platforms
3.0
Regulatory Compliance
4.0
Customer Support
3.0
Account Types
3.0
Mobile Trading
3.0
Forex Focus
3.0
Market Access
5.0
Fees
4.0
Platforms
4.0
Regulatory Compliance
5.0
Customer Support
4.0
Account Types
5.0
Mobile Trading
4.0
Customer Support: Availability, Quality, and Responsiveness
- Oanda offers localized and multilingual phone support, which is beneficial for traders in different regions. It also provides email support and an extensive FAQ section on its website.
- Interactive Brokers provides comprehensive support through various channels, including phone, email, and online resources. It also offers a robust knowledge base and educational materials, catering well to professional traders who require detailed information.
Comparing Broker Regulations
- ASIC (Australia)
- Mwali International Services
- FCA (UK)
- MAS (Singapore)
- NFA or CFTC (USA)
- CySec
- FCS BVI (British Virgin Islands)
- CIMA (Cayman Islands)
- CIRO / IROC (Canada)
Leveraged trading is high risk. Losses can exceed deposits.
- ASIC (Australia)
- Mwali International Services
- FCA (UK)
- MAS (Singapore)
- NFA or CFTC (USA)
- CySec
- FCS BVI (British Virgin Islands)
- CIMA (Cayman Islands)
- CIRO / IROC (Canada)
Leveraged trading is high risk. Losses can exceed deposits.
Overall Commissions & Fees Rating
Leveraged trading is high risk. Losses can exceed deposits.
Leveraged trading is high risk. Losses can exceed deposits.
Interactive Brokers generally offers lower fees:
EUR/USD Spread
- Oanda: 1.2 pips
- Interactive Brokers: 0.1 pips
Inactivity Fee
- Oanda: $12/month (after 12 months of inactivity)
- Interactive Brokers: $0 (no inactivity fee)
Rollover Fee (EUR/USD Buy)
- Oanda: -0.9
- Interactive Brokers: -1.5% (overnight financing)
Rollover Fee (EUR/USD Sell)
- Oanda: 2.75
- Interactive Brokers: +1.5% (overnight financing)
Stock Trading Commission
- Oanda: ❌
- Interactive Brokers: $0.005 per share (min $1, max 0.5% of trade value)
Customer Support: Availability, Quality, and Responsiveness
- Oanda offers localized and multilingual phone support, which is beneficial for traders in different regions. It also provides email support and an extensive FAQ section on its website.
- Interactive Brokers provides comprehensive support through various channels, including phone, email, and online resources. It also offers a robust knowledge base and educational materials, catering well to professional traders who require detailed information.
Support Channels
Oanda
- Phone Support: Available in multiple languages.
- Email Support: For less urgent inquiries.
- FAQ & Knowledge Base: Extensive online resources.
Interactive Brokers
- Phone Support: Available 24/5 for trading-related queries.
- Email Support: For account and technical issues.
- Online Chat: Live support during trading hours.
- Knowledge Base & Tutorials: Comprehensive educational resources.
Which Broker Meets Your Trading Needs
- For Forex and Spread Betting Focus: Oanda is a better choice due to its user-friendly platforms and specialized focus on these markets. It’s ideal for traders who primarily trade Forex and want a straightforward trading experience.
- For Diversified Portfolio and Professional Trading: Interactive Brokers offers superior access to various markets and instruments, making it ideal for traders seeking a broader investment scope. Its advanced platforms and low fees are particularly appealing to professional traders and those looking to diversify their portfolios across multiple asset classes.
In conclusion, while Oanda excels in Forex trading with its accessible platforms, Interactive Brokers stands out for its comprehensive market access and advanced trading tools, making it a go-to choice for professional traders and those seeking a diversified investment strategy.
➟ Discover More In-Depth Broker Comparisons to Find the Perfect Fit for Your Trading Goals!
Frequently Asked Questions
1. What are the primary differences between Oanda and Interactive Brokers?
Oanda focuses primarily on Forex trading with user-friendly platforms like MT4 and MT5, while Interactive Brokers offers a wide range of financial instruments, including stocks, futures, and options, with advanced trading platforms.
2. Which broker is better for beginners?
Oanda is generally more suitable for beginners due to its user-friendly platforms and no minimum deposit requirement, making it easier for new traders to start.
3. How do the fees compare between Oanda and Interactive Brokers?
Interactive Brokers typically offers lower fees, especially for stocks and futures trading. Oanda’s fees are built into the spread, which can be higher for Forex trading.
4. What kind of regulatory oversight do Oanda and Interactive Brokers have?
Both brokers are regulated by reputable bodies. Oanda is regulated by the FCA, ASIC, and CFTC, among others. Interactive Brokers is regulated by the SEC, FCA, ASIC, and CIRO, among others.
5. Which broker provides better educational resources?
Interactive Brokers offers more comprehensive educational resources, including the IBKR Campus, which provides extensive learning materials for traders. Oanda also offers educational content but to a lesser extent compared to Interactive Brokers.
