OANDA may prevail in terms of regulations and research tools, but when it comes to raw spread, IC Markets take a better initiative that benefits short-term traders.
IC Markets and OANDA are two of the leading online brokers in the world. Their services are similar with both having a slight edge over each other across certain categories. They are both highly regulated by various financial bodies around the world where they operate which adds to their credibility and reliability as brokers.
IC Markets is relatively trustworthy even though it has no public listing. However, it is regulated by a tier-1 financial body (high trust), one tier-2 financial body (average trust), and one tier-3 financial body (low trust). The tier-1 financial body that regulates IC Markets is the Australian Securities & Investment Commission (ASIC). IC Markets is essentially an average-risk brokerage firm.
See Also:
Similar to IC Markets, OANDA is not publicly listed too. However, when compared to IC Markets, OANDA is regulated by six tier-1 financial bodies (high trust) and no tier-2 or tier-3 regulators. The tier-1 regulators that authorize OANDA include the UK's Financial Conduct Authority (FCA), Investment Industry Regulatory Organization of Canada (IIROC), Monetary Authority of Singapore (MAS), Australian Securities & Investments Commission (ASIC), Japanese Financial Services Authority (JFSA), and the Commodity Futures Trading Commission (CFTC) in the United States.
IC Markets Vs OANDA in General
Before we can determine which one of the two brokers has the better raw spread, we need to examine some of their features and what they offer to their clients.
Which has the Better Trading Tools?
The trading tools are examined in terms of platforms, analytical features, mobile trading, research, and education. For research capabilities, OANDA offers a much better market research experience and it is the same for mobile apps and trading tools as they are designed to provide traders with an overall excellent trading experience.
Trading Platforms
Feature | IC Markets | OANDA |
Web platform | ✔️ | ✔️ |
Desktop platform (Windows) | ✔️ | ✔️ |
Proprietary platform | ❌ | ✔️ |
MetaTrader 4 (MT4) | ✔️ | ✔️ |
MetaTrader 5 (MT5) | ✔️ | ✔️ |
ZuluTrade | ✔️ | ✔️ |
cTrader | ✔️ | ❌ |
DupliTrade | ❌ | ❌ |
Trading Tools
Features | IC Markets | OANDA |
Alerts – basic fields | ✔️ | ✔️ |
Watchlists – total fields | 7 | 6 |
Charting – trade from the chart | ✔️ | ✔️ |
Demo account | ✔️ | ✔️ |
Charting – drawings autosave | ✔️ | ✔️ |
Charting- total number of drawing tools | 15 | 431 |
Charting- total number of indicators | 30 | 81 |
Mobile Trading
Features | IC Markets | OANDA |
Android App | ✔️ | ✔️ |
Apple iOS App | ✔️ | ✔️ |
Watch list | ✔️ | ✔️ |
Watch list syncing | ❌ | ❌ |
Alerts – basic fields | ✔️ | ✔️ |
Charting – draw trendlines | ✔️ | ✔️ |
Charting – moveable trendlines | ❌ | ✔️ |
Charting – multiple timeframes | ✔️ | ✔️ |
Forex calendar | ✔️ | ✔️ |
Charting – indicators | 30 | 33 |
Charting – drawings autosave | ❌ | ✔️ |
Research
Features | IC Markets | OANDA |
Forex News (top-tier sources) | ✔️ | ✔️ |
Economic calendar | ✔️ | ✔️ |
Delkos research | ❌ | ❌ |
Daily market commentary | ✔️ | ✔️ |
Social sentiment – currency pairs | ✔️ | ✔️ |
Autochartist | ✔️ | ✔️ |
Trading central (Recognia) | ✔️ | ❌ |
Education
Feature | IC Markets | OANDA |
Education (Forex or CFDs) | ✔️ | ✔️ |
Archived client webinars | ✔️ | ✔️ |
Client webinars | ✔️ | ✔️ |
Investor dictionary (glossary) | ✔️ | ✔️ |
Beginner trading videos | ❌ | ✔️ |
Advanced trading videos | ❌ | ✔️ |
How Many Currency Pairs and CFDs are Available for Trading?
IC Markets offers 61 currency pairs to clients while OANDA offers 71. In terms of CFDs, IC Markets provides traders access to more than 3,500 CFDs while OANDA offers just 124 which is a large difference in the product offerings.
Feature | IC Markets | OANDA |
Forex trading | ✔️ | ✔️ |
Forex pairs (total) | 61 | 71 |
CFD trading | ✔️ | ✔️ |
Total number of CFDs | 3583 | 124 |
US Stock trading (Non-CFD) | ❌ | ❌ |
International stock trading (Non-CFD) | ❌ | ❌ |
Social trading/copy trading | ✔️ | ❌ |
Cryptocurrency (physical) | ❌ | ❌ |
Cryptocurrency (CFD) | ✔️ | ✔️ |
Crypto Disclaimer (UK) | It should be noted that crypto CFDs cannot be accessed by retail traders from any broker's U.K. entity nor by residents of the U.K. (with the exception of Professional traders) | It should be noted that crypto CFDs cannot be accessed by retail traders from any broker's U.K. entity nor by residents of the U.K. (with the exception of Professional traders) |
What about the Funding Options?
To make it easy for clients to deposit and withdraw funds, IC Markets makes multiple options available to traders once they open an account. Some of these options include Skrill, wire transfer, FasaPay, Neteller, credit/debit card, BPay, and China Union Pay. Meanwhile, signing up to OANDA requires no minimum deposit.
Feature | IC Markets | OANDA |
Minimum deposit | $200 | $0.00 |
Visa/Mastercard (credit/debit) | ✔️ | ✔️ |
PayPal (deposit/withdrawal) | ✔️ | ✔️ |
Bank wire (deposit/withdrawal) | ✔️ | ✔️ |
Skrill (deposit/withdrawal) | ✔️ | ✔️ |
In Regards to Raw Spreads
When it comes to comparing the trading costs between brokers, especially for forex and CFD trading, it can be slightly complicated because pricing structures vary, and not every broker makes their average spreads data available. However, based on the available information, IC Markets provides traders with lower trading costs and better pricing overall.
The competitive pricing of IC Markets means it offers traders a better raw spread than OANDA. It is necessary to point out that IC Markets does offer a Raw Spread account to give traders a much better platform to enjoy its very tight spreads. The Raw Spread account is aimed at experienced traders that are looking for stable ultra-low spreads.
IC Markets is an online forex broker operating under the company of International Capital Markets Pty Ltd. Traders under the Australian jurisdiction are provided with the trading service of IC Markets AU that is headquartered in Australia and licensed by the Australian Securities and Investments Commission (ASIC).
On the other hand, non-Australian traders who open an account in this broker are registered under IC Markets SEY that is based in Seychelles, and regulated under the Seychelles Financial Services Authority (SFSA). The dual operation is a result of the relatively new rules from ASIC that prohibit their regulated broker to offer trading services outside Australia.
Classified as an ECN broker, IC Markets provide clients with MetaTrader 4, MetaTrader 5, cTrader as platform trading options. This broker also follows market trends to include Cryptocurrencies as one of its products, enriching its already wide selection of trading assets that include Currencies, Indices, Metals, Energies, Softs, Stocks, as well as Bonds.
The minimum deposit in IC Markets is in the middle range compared to other ASIC-regulated brokers, as it reaches $200 for every client. Market analysis materials are also prepared regularly for trading insights on IC Markets's official website, proving their competence to serve their traders with important contents created by market experts that work specifically for them.
For payment methods, IC Markets allows funding and withdrawal via wire transfer, credit card, PayPal, Skrill, Neteller, FasaPay, UnionPay, as well as Bitcoin via BitPay. The more interesting aspect from this broker is its multi-base currencies that include USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, and CAD.
As the trading technology in IC Markets is highly equipped with co-located servers and extremely low latency (especially on cTrader), the broker is widely known for its capability in hosting traders with the special needs for high-frequency trading as well as scalping.
To sum up, IC Markets is a fitting destination for active traders looking for a well-regulated broker. IC Markets is also flexible in terms of base currency and payment methods, signaling their commitment to welcome traders beyond their home country. As of late 2019, IC Markets provided their website in 18 international languages including English, Korean, Indonesian, French, Spanish, Italian, Malay, German, and Chinese.
The Raw Spread account offered by IC Markets features some of the lowest possible spreads that can be found on the market with the average spread for EUR/USD being 0.1 pips while there is just a little commission of $3.50 per lot payable per side or $7 round turn. With deep liquidity and a high speed of order execution, the IC Markets Raw Spread account is perfect for day traders, scalpers, and expert advisors. The Raw Spread account has the following features:
Raw Pricing
Raw pricing enables IC Markets to offer market pricing and optimal trading conditions to its clients via the MT4 and MT5 platforms. The trading environment created by raw pricing enables traders to enjoy institutional-grade pricing on virtually the same level as the foremost execution venues in the world. IC Markets is able to achieve this because it receives Executable Streaming Prices (ESP) from its pricing providers and then makes that available to its clients without a dealing desk, requotes, or manipulation of prices. This makes IC Markets the leading choice for high-volume traders, scalpers, and robots that require narrow spreads and the most efficient execution possible.
Level II Pricing – Market Depth
Market depth displays the complete range of executable prices in the way they are sent directly from the price providers of IC Markets. This allows the broker to offer full transparency of the liquidity of each forex pair by showing the volumes that are available for each price level at any specific period. A high level of liquidity coupled with low latency and asynchronous spot prices ensure that clients get the narrowest spreads possible.
Spreads from 0.0 Pips
IC Markets has some of the tightest spreads among forex brokers in the world with spreads starting at 0.0 pips on both the MetaTrader 4 and 5 platforms. Also, the average spread for the EUR/USD is 0.1 pips. This makes it one of the tightest average spread for EUR/USD in the world.
This feature is possible because the pricing connector of IC Markets aggregates a mix from about 25 different providers of prices which means the broker constantly gets the best price for its clients while at the same time maintaining tight spreads, especially during high volatility periods.
High Speed of Order Execution
IC Markets achieves this by having its server for the MetaTrader 4 and 5 platforms located in the Equinix NY4 data center in New York. This NY4 data center has been referred to as a financial ecosystem because it houses more than 600 exchanges, buy and sell side firms, trading venues, market data, and service providers. The server for MetaTrader 4 and 5 is then cross-connected to the broker's Communication Network to guarantee low latency and ensure that trades are executed at a high speed via the trading environment of IC Markets.
In terms of latency, signing up an account with IC Markets means trading with latency values lower than 1 millisecond. This creates an environment that is perfect for automated and high-volume trading as well as scalping.
Perfect for Scalping as There are No Trading Restrictions
The MetaTrader 4 and 5 platforms offered by IC Markets do not have any restrictions on trading as the broker provides optimum trading conditions for high-frequency trading and scalping globally. This enables traders to place orders between the spread since there is an absence of minimum order distance and a freeze level of 0. Thus, traders can place orders (even stop-loss orders) as close to the market price as they wish.
IC Markets also allows hedging of trading positions and traders can enjoy the benefits of margin netting as they do not have to worry about paying margin on hedged trades.
See Also:
Flexibility in Lot Sizing
In terms of trade sizes, there are no restrictions or limits as traders can place trades as small as one micro lot (0.01) in IC Markets trading account. Interested traders can capitalize on this flexibility in lot sizing by running a trial on the platform with very little risk while also engaging in the management of trade sizes based on their account balance.
See Also:
Final Words
Based on the above discussion that has compared the features of IC Markets and OANDA while also fully examining the features of the Raw Spread account offered by IC Markets, it is clear that if you are a trader looking for a broker with one of the best raw spreads on the market, then it is IC Markets.
OANDA is a highly trusted global brand that is distinguished for its reputation and excellent market research. It also has a strong track record in terms of regulation and its support for third-party features enhances its overall services.
Nevertheless, the competitive pricing of IC Markets as well as its scalable execution makes it an incredible option for algorithmic trading. The structure and design of IC Markets are well-suited to providing this service especially if you are interested in scalping or other forms of high-frequency trading.
The tight spreads go a long way in reducing the trading costs for the myriads of transactions that traders will carry out. This is highly important due to the high volatility of financial markets that causes them to swing in directions that are sometimes favorable to the trader and sometimes unfavorable. This is why traders look for brokers that have accounts with high speeds of execution so that whenever they need to pivot on their trading positions, it can be done quickly without compromising their chances of making profits. Having a Raw Spread account ensures this possibility.
31 Comments
skye
Jun 27 2022
A really solid discussion, with the goal of providing traders with the ability to an online broker application based on the benefits and drawbacks associated with each option.
Because of its stellar reputation and extensive market research capabilities, the OANDA online broker application has already garnered a lot of attention. IC Markets, on the other hand, is an excellent choice for investors who are considering scalping or other types of high-frequency trading.
Natasha
Jun 27 2022
Traders have a high need for online broker applications right now due to the fact that using them is incredibly straightforward and uncomplicated. All do have perks and cons.
However, having access to an online broker application can be of great assistance to traders, particularly those who are just starting out.
Jusin
Jan 1 2023
Tiono
Jan 1 2023
Jusin
Jan 1 2023
Tiono
Jan 1 2023
Jusin
Jan 1 2023
Recoba
Mar 3 2023
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
Mar 3 2023
Hey, I feel like we're getting off track here. Is it just me or did anyone else notice that the regulators mentioned in the article that oversee OANDA are all from developed countries like the UK, Australia, Japan, Canada, and the USA? And what's the deal with first-tier, second-tier, and third-tier regulators anyway? Like, what sets them apart? And do you think it's safe to trade with a broker that's regulated by a second or third-tier regulator? Let me know, thanks!
Jason
Mar 3 2023
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
Mar 3 2023
Hey, quick question about IC Market's trading platform. So, if I'm understanding correctly, you can use both MetaTrader 4 and 5 platforms with their Raw spread account, right? I think I read somewhere that these two platforms are supposed to be great for scalping, but they're different because they have different program languages - like MetaTrader 5 is more advanced than MetaTrader 4. But even though MetaTrader 4 is an older platform, a lot of traders still prefer it and use it today. So, here's what I'm wondering: when it comes to scalping, which one is actually better - MetaTrader 4 or 5?
Antonio
Mar 3 2023
Hey, quick question about IC Market's trading platform. So, if I'm understanding correctly, you can use both MetaTrader 4 and 5 platforms with their Raw spread account, right? I think I read somewhere that these two platforms are supposed to be great for scalping, but they're different because they have different program languages - like MetaTrader 5 is more advanced than MetaTrader 4. But even though MetaTrader 4 is an older platform, a lot of traders still prefer it and use it today. So, here's what I'm wondering: when it comes to scalping, which one is actually better - MetaTrader 4 or 5?
Paul
Mar 3 2023
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
Mar 20 2023
From the explanation above, it can be concluded that raw spreads are very profitable for scalpers. Let's say... I'm a day trader that looking for some new brokers. If I planned to open an account on IC Markets, what kind of spread do I have to choose? Is this raw spread also profitable for me? Or maybe y'all have some alternative account that also recommended? Thanks mate!
Willian
Apr 14 2023
@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.
Hamin Khan
Mar 23 2023
What are the key factors to consider when comparing the raw spreads offered by IC Markets and OANDA, and how do these factors impact the overall trading experience, profitability, and risk management for traders? Additionally, what are the differences in the pricing models used by these brokers, such as commission-based versus markup-based spreads, and how do these affect the total cost of trading? Furthermore, how can traders compare and evaluate the quality and consistency of the raw spreads offered by IC Markets and OANDA, and what tools and resources are available for conducting this analysis?
Saad Chy
Mar 23 2023
How do IC Markets and OANDA ensure transparency, fairness, and accuracy in their pricing and execution of raw spreads, and what measures do these brokers have in place to prevent issues such as slippage, requotes, or stop loss hunting? Furthermore, how do these brokers handle disputes or issues related to raw spreads, such as pricing discrepancies or execution errors, and what recourse do traders have if they encounter such problems? Additionally, what are the risk management tools and strategies available for traders using IC Markets or OANDA, and how can these be used to optimize the trading experience and minimize potential losses?
Richardo
Apr 14 2023
I would like to clarify something. In the article, it mentioned the raw spread and I noticed that the spread always starts from 0.0 pips, which is extremely low compared to other account types such as zero, standard, and non-raw spread accounts. I am curious if the raw spread offered by IC Markets and OANDA can be an indicator that they are ECN brokers.
Furthermore, I have a question regarding the features offered by these brokers. IC Markets offers social trading, while OANDA does not. Considering raw spread and social trading, I wonder if social trading can benefit from trading with raw spread.
Haytam
Oct 30 2023
@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.
Phil Khun
Jun 6 2023
Friends... I'm confused because now there are more and more forex brokers, lots of them competing to offer low-cost trading, such as low spreads, low commissions but decent spreads, and much more. That's what makes me confused, so I've joined a broker like that, according to your experience, those of you who have been involved in the brokerage world, if the broker provides a free spread service, yes, the commission for the broker is $ 20 per lot, is that reasonable or too expensive?? please explain, guys...
Friends... I'm confused because now there are more and more forex brokers, there are lots of them competing to provide trading offers at low costs, such as low spreads, then also low commissions but decent spreads, and much more. That's what makes me confused, So, I've been curious about one of these brokers, according to your experience, with those of you who have been involved in the brokerage world, if the broker provides a free spread service, yes, the commission for the broker is $ 20 per lot, is that reasonable or too expensive?? please explain guys...
Camilla
Jun 7 2023
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.
Ukrain
Jun 8 2023
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.
Cabello
Jun 10 2023
In this article there is something that discusses pending orders that interest me. In my opinion, of course all traders often use this type of executing orders. I think that Pending orders are a very good option for traders who still work full time or are generally very busy. You don't have to wait in front of the screen to see price movements. Just set the order and wait for it to be executed.
However, can pending orders be used on the MT4 and MT5 platforms? Pending orders MT4 vs MT5, which is the best? Please reply..
Marcail
Jun 11 2023
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
Larry Marry
Sep 5 2023
Hello guys, good Morning, What are some of the unique features of OANDA's trading platform? What makes this broker so appealing to newbie traders...
Fahad G
Sep 6 2023
OANDA's trading platform offers several unique features that set it apart from other trading platforms. Some of these features include:
Overall, OANDA's trading platform offers a range of unique features that can help traders improve their trading performance and achieve their goals.
Warigin
Sep 7 2023
In my experience, the IC Markets mobile app is really a very good trading platform not only for new traders but also for advanced traders. But as you know, the weak point of the mobile trading platform is the chart size. Although you can zoom in and out of the chart, this still has many limitations. If you zoom in, you won't see the time column and if you zoom out the chart will still be small. If you try to rotate the screen and become landscape, the menu will be smaller. I mean for traders with a very relaxed trading style like swing traders, I recommend this mobile app because the design of this IC Market mobile app is very easy to use and user-friendly. In the meantime, if you are a scalper, reconsider using it because, as I said, you will have difficulty determining the chart.
In my opinion, If you compare MT mobile and IC Mobile, yes for me IC Mobile is a bit more similar but if you trade with PC, if there is a broker trading platform, it always loses face to the MetaTrader.
Vadenia
Sep 8 2023
The IC Markets mobile app can be a useful tool for traders who prefer to manage their trades on-the-go. The app is available for both iOS and Android devices, and allows traders to access real-time quotes, place trades, and manage their accounts from anywhere. While it may not offer the full range of features and functionality available on the desktop version of the trading platform, the mobile app is user-friendly and can be a great option for those who are new to trading. However, it is important to note that the mobile app should not be the only platform you use for trading, as it may lack certain advanced features that are available on other platforms like MetaTrader.
To open an account with IC Markets, you will need to provide some basic information about yourself, such as your name, address, and contact details. You will also need to verify your identity and provide proof of your address. This can typically be done by providing a copy of your passport or driver's license, as well as a recent utility bill or bank statement. IC Markets offers several different account types to choose from, including Standard Accounts, Raw Spread Accounts, and Islamic Accounts.
For beginners, the Standard Account may be the best option, as it has low minimum deposit requirements and offers access to a range of financial instruments, including forex, commodities, and indices. Overall, IC Markets is a reputable and well-regarded broker that offers a range of trading tools and resources for traders of all skill levels. As a new trader, it's important to carefully consider your trading needs and goals before choosing a broker, and to make sure that you understand the risks involved in trading before getting started.
Benedict
Nov 16 2023
From what I understand about Raw Spread, the spread is practically minimal or close to zero pips, meaning you can trade with almost no spread costs and only deal with commissions. Now, what's throwing me for a loop is this article that's comparing the raw spread offerings from IC Markets and OANDA. It seems to highlight some notable differences.
So, here's the puzzle: why do different brokers have different raw spreads? What factors play into this disparity? And is it safe to assume that the lower the spread, the better the service when it comes to raw spreads for traders?
Dion
Feb 26 2024
Hello! I'm interested in learning about the primary aspects to evaluate when contrasting the raw spreads provided by IC Markets and OANDA. How do these elements influence traders' overall trading encounters, profitability, and risk management? I'm curious because the article I read suggests that both IC Markets and OANDA offer raw spreads, with their features appearing quite similar.
Tanaka
Feb 29 2024
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.