Compare IC Markets Vs OANDA: Which is the Better Forex Broker in 2023?
IC Markets Vs OANDA, which one is better? Both brokers are often compared to each other to find which one comes out to be the better one. What many traders may not comprehend is that the best choice may differ for every one of them, and there's nothing wrong with it. To make it easier for you to decide which one is the best between IC Markets Vs OANDA, here is the direct comparison:
|❗Information||Testimonials (549), News (61), Articles (21), Promotions (1), Webinars (281)||Testimonials (103), News (31), Articles (16), Bonus (2)|
|💲 Min Deposit||$200||$0|
|⚖ Max Leverage||1:500||1:20|
|💸 Commissions||$3.50||-$50/Mil commission for Core pricing|
|💡 Min Position||0.01 lot||0.00001 lot|
|💳 Payment||Crypto, BPAY, Credit/debit cards, FasaPay, Neteller, PayPal, Skrill, UnionPay and Wire transfer||Visa, Mastercard card, ACH deposits and Bank transfer|
|🧩 Demo Account|
|📁 Segregated Account|
|🕋 Islamic Account|
|👨💻 PAMM Account|
|📈 Managed Account|
|🇺🇸 US traders|
|🏆 Trading contests|
|⚡ Automated trading|
|💰 Bonus offers|
|📖 Free education|
|1️⃣ One-click trading|
|⏱ Trailing stop|
|⏳ Pending orders|
|Gold & Silver|
|🗣 Website Languages||Arabic, Chinese, English, German, Indonesian, Japanese, Korean, Malay, Portuguese, Russian, Spanish||English|
|🚪 Trade Now||Open IC Markets||Open OANDA|
Failed to log in...again
Mediocre but okay
good for backtest strategy
Good Australian broker
OANDA is the best broker I've ever know....
My EA doesn't work very well after some time. So...
My friend recommend me to trade with OANDA. But it...
I realize half on these commentaries are only half reliable....
See More IC Markets Testimonials
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OANDA Japan Raised Margin Rate of AUD/JPY
IC Markets Constitution and Ascension Day Holiday Trading Schedule
IC Markets Announces Trading Schedule for Memorial Day Holiday
OANDA Adds CFDs Selection with New US and UK Stocks
OANDA Starts Offering CFDs for UK and US Stocks
OANDA Successfully Sponsored Traders Fair Thailand 2023
IC Markets Launches IC Your Trade Season 3
IC Markets Updates Trading Schedule due to Australian DST
Entering DST, IC Markets Updates Trading Server
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Which one has the better spread?
Considering that spread is a trading cost, the lower the spread, the better it is for traders. However, spread information among brokers is not easy to get, as not every broker transparently publishes their spreads data.
However, traders can still choose their ideal brokers by the type of their spreads. The most two popular types of spread are fixed and variable. The pros and cons between the two spreads can vary for every trader. In this case, IC Markets provides their pricing with Variable spread while OANDA offers Fixed spread.
IC Markets vs OANDA: Who hosts the best trading platform?
The trading platform is essential as you can't execute a trade without it. Additionally, trading platforms provide price charts and an assortment of analytical tools to help traders with their strategies.
To support their clients, IC Markets enables trading with MetaTrader 4, MetaTrader 5, cTrader, webIRESS, ProDeal. The offer is supported with One-click trading, Trailing stop, Pending orders. In comparison, OANDA provides trading with FxTrade App, MetaTrader 5, Oanda Platform, MetaTrader 4 with the support of .
Is IC Markets or OANDA better in providing the trading instruments?
It is widely known that forex brokers offer other trading instruments other than currency pairs. The offer gives interesting choices for traders to explore other markets that may be proven beneficial for them and to diversify their trading portfolios.
In this case, IC Markets supports trading with Forex, CFD, Bonds, Crypto, while OANDA presents the ability of trading with Forex, Gold & silver, CFD, Crypto.
In conclusion, deciding the better broker eventually comes down to your consideration. If you are an active trader, it is better to choose a broker with a variable spread that is generally lower than the fixed one. For the trading platform, MetaTrader 4 is the standard choice for every trader. But if you want to have a different experience with a more advanced platform, choose the broker that provides alternative platforms. The same goes for trading instruments; if you want to try delving into different markets, seek for a broker with more options on trading instruments.
Looking for more references? Here are other comparisons related to IC Markets and OANDA:
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- Compare OANDA vs GKInvest
- Compare OANDA vs FXOpen
- Compare OANDA vs RoboForex
For more comparisons, visit this page.