IC Markets Vs OANDA: Which has the Better Raw Spread?

Jusin: I think I will explain more about the Raw spread, Raw spreads are typically offered by Electronic Communication Network (ECN) brokers, which are brokers that use an electronic system to match buy and sell orders from different market participants. ECN brokers do not have a dealing desk, which means that they do not take the other side of their clients' trades, but instead, they pass the orders directly to the market.

With raw spreads, traders can benefit from the tightest possible spreads and enjoy the best available prices for the assets they want to trade. However, raw spreads do not guarantee that the trades will be executed, as the prices can fluctuate rapidly, especially during times of high market volatility. Additionally, some ECN brokers may charge a commission in addition to the raw spread.

You can read more about the ECN Spread or Raw Spread either worth it or not in here : Is Raw Account Spread Account Worth it?

Pete: Hey there! I get what you mean, it does seem like all the regulators overseeing OANDA are from developed countries. As for the first-tier, second-tier, and third-tier regulators, I think the difference is in the level of oversight and authority they have over brokers. First-tier regulators are usually the most powerful and have the most stringent regulations, while second and third-tier regulators may have less authority and fewer rules. As for whether it's safe to trade with a broker that's regulated by a second or third-tier regulator, I'm not entirely sure. It probably depends on the specific regulator and the broker itself.

The reason why first-tier regulators are usually in advanced countries is because they have more stable and mature financial systems with lots of laws and rules to protect investors. These regulators have lots of experience and resources to keep things in check and protect traders and investors from sketchy brokers. Plus, advanced countries often have a ton of huge financial institutions and a big presence in global financial markets, so it makes sense that they'd be in charge of overseeing brokers.

Antonio: To be honest, it's hard to say which platform is better for scalping - MetaTrader 4 or 5. It really depends on what you're comfortable with and what works best for your specific trading strategy. Some traders swear by MetaTrader 5's advanced features, but others still prefer the good ol' MetaTrader 4 for its simplicity and easy-to-use interface. Plus, MetaTrader 4 has a ton of custom indicators and expert advisors available. The best thing to do is to try both platforms and see which one clicks with you.

@Gavin Raddous:  As a day trader searching for new brokers, if you plan to open an account with IC Markets, it's recommended to choose the raw spread account. Raw spread accounts are suitable for traders who value low trading costs and require fast execution. This type of account charges a commission in addition to the spread, but the spread is typically lower than other account types.

Moreover, IC Markets offers other account types such as the Standard and Zero Spread accounts, but they have higher spreads compared to the raw spread account. The Zero Spread account charges a higher commission instead of a spread, but it's still not as cost-effective as the raw spread account.

However, it's important to note that choosing the right account type depends on your trading strategy, risk tolerance, and personal preferences. Therefore, it's recommended to thoroughly research and compare the available account types before making a decision.

@Richardo: Let me clarify to you, dude. When you come across the mention of a raw spread starting from 0.0 pips in the context of brokers like IC Markets and OANDA, it's often a telltale sign that these brokers are operating as ECN (Electronic Communication Network) brokers. ECN brokers are known for offering incredibly tight spreads. These low spreads are a result of ECN brokers connecting traders directly to liquidity providers, which can include banks, financial institutions, and other traders. The absence of a dealing desk in ECN models means that there is no intermediary involved in trade execution, resulting in highly competitive pricing.

Now, let's address the relationship between social trading and raw spreads. It's essential to understand that these are distinct features, each offering its unique benefits. Raw spreads pertain to the cost associated with executing a trade, essentially the difference between the buy and sell prices in the market. This is a critical factor for traders concerned about minimizing trading costs.

Of course, every broker is looking for profits. One of these plays on spreads and commissions from us traders. and that's reasonable considering they also need to spend a lot of capital to become a broker such as permits, infrastructure and so on and it's definitely not cheap. But yes, you as a trader also have your own interests, namely to make a profit from trading, and avoid brokers with costs that are too high.
In my opinion, brokers offering commissions of around $20 per lot, for Euro/USD, AUD/USD, major forex are too expensive, right... because normally the commission is around $7 per lot. Even though the broker here offers zero spread for you, with an expensive commission like this, it's less profitable for you.

I have a different opinion from you, I myself started as a beginner and chose a broker with a reasonable commission, like around $ 6 to $ 10 per lot, offering zero spread. And it's not my fault because everyone who has experience trading goes through the beginners phase too. With not much capital, you tend to be careful using your initial resources.
And also as far as I know, even if a trader chooses zero spread, it is not constant in the 0 pip range, it will always change according to fluctuations in currency prices. In fact, yes, the spread is in the range of 0.1 pips, 0.5 pis can be included in the zero spread class.

Actually, both MT4 and MT5 can use this feature. However, there are differences between the two platforms: MT4 : Suitable for basic orders such as stop orders and limit orders, whereas, MT5 : Best if you need to adopt a strategy that requires more flexibility in setting pending orders
MT5 by nature offers more advanced features than MT4, from better tools to more technical indicators and pending order types to choose from. Hence, it allows traders to explore more items and diversify their portfolio with various advanced trading techniques.
Maybe to further understand the pending order functions on the two platforms, you can read this.

MT4 vs MT5 Execution: Types of Pending Orders

OANDA's trading platform rocks with cool features:

• Advanced charting tools: You get tons of charting options to customize your trading style.
• One-click trading: Save time and trade faster with just a single click.
• Algorithmic trading: Create and use your own automated trading strategies.
• Historical data: Dive into historical data for strategy testing and analysis.
• Mobile trading: Trade on the go with the mobile app anytime, anywhere.
• Risk management tools: Use stop loss, take profit, and trailing stops to manage risk and limit losses.

In short, OANDA's platform packs unique tools to boost your trading game and reach your goals.

IC Markets mobile app is handy for traders on-the-go. It's available for iOS and Android, letting you access real-time quotes, make trades, and manage your account from anywhere. But remember, it's not the only platform you should use. It might lack some advanced features found in platforms like MetaTrader.

To open an account, provide basic info and verify your identity. IC Markets offers various account types, like Standard, Raw Spread, and Islamic Accounts. For beginners, the Standard Account is a good start with low minimum deposits and access to forex, commodities, and indices.

Overall, IC Markets is a reputable broker with tools for traders of all levels. Just be sure to understand the risks before diving in as a newbie!

Hello! When comparing the raw spreads offered by IC Markets and OANDA, several critical factors influence traders' overall experience, profitability, and risk management. Firstly, assessing the actual spread widths provided by each broker is paramount, as lower spreads typically translate to better pricing and increased profitability for traders. Secondly, the quality of trade execution, including factors like order execution speed and slippage, significantly impacts trading outcomes. Traders also need to ensure the transparency and reliability of each broker's pricing model to avoid hidden markups or fees. Additionally, the availability of user-friendly trading platforms and advanced tools can enhance trading efficiency and strategy implementation. Furthermore, considering the reputation and regulatory compliance of both brokers is essential for ensuring the security of funds and adherence to strict financial standards. By carefully evaluating these factors, traders can make informed decisions that align with their trading goals and preferences, ultimately optimizing their trading experience, profitability, and risk management strategies.