Interactive Brokers vs Oanda vs XTB - Fees Review included
| Feature | Interactive Brokers | Oanda | XTB |
|---|---|---|---|
Overall |
4.9 |
4.4 |
4.3 |
5 |
5 |
4.7 |
|
4.9 |
4.5 |
3.8 |
|
5 |
3.5 |
4.7 |
|
Investment Instruments |
4.2 |
4.1 |
1 |
Platforms and Charting Tools |
5 |
4.8 |
4.4 |
Deposit and Withdrawal |
4.1 |
4.2 |
4.8 |
Research |
4.7 |
4.7 |
4.1 |
Education |
4.5 |
4.5 |
4.4 |
Support |
4.2 |
4.8 |
4.5 |
Bonuses |
3.1 |
4.6 |
4.6 |
|
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Interactive Brokers vs Oanda vs XTB: Pros and Cons
The biggest international broker
Olsen & Associates, also known as OANDA, is a US-registered company set up to offer a plethora of financial services to clients around the world. Its history goes as far back as 1996, and it is now under regulation in four jurisdictions. The broker has licenses from different regulators, of which the United Kingdom Financial Conduct Authority (FCA) is the major one.
The X Trade Brokers (hereinafter “XTB”) is registered in Belize and provides a fairly extensive list of financial services to traders. The company was incorporated in 2002 and its financial regulator is the Belize International Financial Services Commission (IFSC). The broker has offices in Spain, Poland, and the UK, where it is authorized and regulated by the National Financial Supervision Commissions. The XTB is focused on working primarily with European investors. It has several significant awards, including the Best Broker in Europe award by Global Banking & Finance Review and Best Financial Teacher by World Finance Exchange & Brokers.
| Interactive Brokers | Oanda | XTB | |
|---|---|---|---|
| Overall Pros | Access to 135 markets in 33 countries | Regulated by a range of reputable financial bodies | 2100+ trading instrumetns |
| 30.000+ trading instruments | Real-time news and fundamental analysis tools | Big choice of ETF CFDs | |
| Regulated in the US, UK and 8 other countries | localized and multilingual phone support | Everage EURUSD spread 0.1 pip | |
| Advanced trading platform | User-friendly platform for new forex traders | Advanced xStation trading platform | |
| Free stocks for registration | Outstanding research tools | Well regulated broker | |
| Low fees | Financial information publicly available | ||
| Low margin rates | High educational value through written content and videos | ||
| Nasdaq Listed company | Orders get executed with no requotes | ||
| 25 supported account currencies | Deposit minimum as low as $1 | ||
| Overall Cons | long and complex registration procedure | No programs offering bonus | High non trading fees - 1.5% commission for withdrawal to credit cards, Account fee 10EUR etc. |
| Slow withdrawal of funds | High stock CFDs fees |
Interactive Brokers vs Oanda vs XTB: Safety and Regulation
| Regulated By: | Interactive Brokers | Oanda | XTB |
|---|---|---|---|
Max. Regulation Level |
Tier-1 |
Tier-1 |
Tier-1 |
Investor protection |
$500,000 £85,000 |
£85,000 SGD 75,000 $500,000 |
£85,000 SGD 75,000 $500,000 |
FCA UK Regulation |
Yes |
Yes |
Yes |
FINRA (U.S) |
Yes |
No |
No |
BaFin (Germany) |
No |
No |
No |
ASIC (Australia) |
Yes |
Yes |
Yes |
CFTC (U.S) |
Yes |
Yes |
Yes |
MAS |
Yes |
Yes |
Yes |
FSCA SA |
No |
No |
No |
BVI FSC |
No |
Yes |
Yes |
VFSC |
No |
No |
No |
FSA (Seychelles) |
No |
No |
No |
Interactive Brokers vs Oanda vs XTB: Trading Conditions
| Trading Conditions | Interactive Brokers | Oanda | XTB |
|---|---|---|---|
Minimum Deposit |
$0 |
No minimum deposit |
$1 |
Trading Platforms |
IB Trader Workstation, IBKR GlobalTrader, Client Portal |
MT4, OANDA, TradingView |
MetaTrader 4 and xStation 5 |
Max Leverage (Futures) |
1-50 |
1-50 |
1-500 (only for non EU and UK clients), 1-30 |
Supported Markets |
Stocks, Forex, ETFs, Mutual Funds, Bonds, Stock options, Commodity Futures, Currency futures, Cryptocurrencies, Robo-portfolios, hedge funds |
Forex, CFDs (not for all entetities): Forex, Indexes, Commodities, Metals, Bonds, Cryptocurrencies |
Forex, CFDs on Stocks, Commodities, Metals, Cryptocurrencies and ETFs |
Trading assets |
30000+ |
120+ |
2100+ |
Trading Accounts |
Cash account, margin account |
Standard, Core, and Swap-free |
Demo, Standard, Pro, Islamic |
Base Account Currencies |
USD, EUR, GBP, AUD, CAD, CZK, DKK, HKD, HUF, ILS, JPY, MXN, NZD, NOK, PLN, SGD, SEK, CHF, CNH |
USD, EUR, HKD, SGD |
USD |
Interactive Brokers vs Oanda vs XTB: Fees
| Fee | Interactive Brokers | Oanda | XTB |
|---|---|---|---|
Standard acc. spread EUR/USD, min pips |
0,2 |
0,1 |
0,1 |
Standard acc. spread EUR/USD, max pips |
0,8 |
0,5 |
0,5 |
ECN Commission |
2 |
3,5 |
3,5 |
ECN Spread EUR/USD |
0,2 |
0,15 |
0,15 |
Deposit fee, % |
No |
No |
No |
Withdrawal fee, % |
Yes |
No |
No |
Withdrawal fee, USD |
Yes |
0-15 |
0-15 |
Inactivity fee, $ |
No |
No |
No |
Interactive Brokers vs Oanda vs XTB: Trading Assets
| Asset Name | Interactive Brokers | Oanda | XTB |
|---|---|---|---|
Overall |
30000+ |
120+trading assets |
2100+ |
Forex |
Yes |
Yes |
Yes |
Stocks |
Yes |
No |
Yes (CFD) |
Metals |
Yes |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes |
Yes (CFD) |
Yes (CFD) |
ETFs |
Yes |
No |
Yes (CFD) |
Bonds |
Yes |
No |
No |
Mutual funds |
Yes |
No |
No |
Stock options |
Yes |
No |
No |
Futures Trading |
Yes |
No |
No |
Binary Options |
No |
No |
No |
Interactive Brokers or Oanda or XTB: Investment Programs
| Asset Name | Interactive Brokers | Oanda | XTB |
|---|---|---|---|
Copy Trading |
No |
Yes |
No |
MAM/PAMM |
No |
No |
No |
Managed Accounts |
No |
No |
No |
Other |
Robo-portfolios, hedge funds, Bonds |
No |
No |
Trading Platforms: Interactive Brokers or Oanda or XTB
| Interactive Brokers | Oanda | XTB | |
|---|---|---|---|
MT4 |
No |
Yes |
Yes |
MT5 |
No |
Yes |
No |
cTrader |
No |
No |
No |
Appropriate platform |
IB Trader Workstation, IBKR GlobalTrader, Client Portal |
Oanda |
xStation 5 |
Others |
No |
No |
No |
|
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Interactive Brokers vs Oanda vs XTB: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Interactive Brokers | Oanda | XTB |
|---|---|---|---|
Bank Wire |
Yes |
Yes |
Yes |
Bank Card |
No |
Yes |
Yes |
Neteller |
No |
Yes |
Yes |
BTC |
No |
Yes |
Yes |
Wise |
Yes |
No |
No |
Payoneer |
No |
No |
No |
USDT |
No |
No |
No |
Interactive Brokers vs Oanda vs XTB: Research
| Research Type | Interactive Brokers | Oanda | XTB |
|---|---|---|---|
News Feed |
Yes |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
No |
Trading Ideas |
No |
Yes |
No |
E-Mail Reports |
Yes |
Yes |
No |
Interactive Brokers vs Oanda vs XTB: Education
| Education Type | Interactive Brokers | Oanda | XTB |
|---|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Yes |
Webinars |
Yes |
Yes |
Yes |
Articles |
Yes |
Yes |
Yes |
Videos |
Yes |
Yes |
Yes |
Cent account |
No |
Yes |
No |
Interactive Brokers vs Oanda vs XTB: Support
| Support Features | Interactive Brokers | Oanda | XTB |
|---|---|---|---|
Working Days |
24/5 |
24/5 |
24/5 |
Yes |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Yes |
Online chat |
Yes |
Yes |
Yes |
Other |
Community forum, Software bug reports |
No |
No |
Interactive Brokers vs Oanda vs XTB: Forex Bonuses and Promo
| Promo | Interactive Brokers | Oanda | XTB |
|---|---|---|---|
Forex Bonus |
No |
Yes (Not for all countries) |
Welcome bonus for non UK/EU & MENA residents . 50% of your first deposit can be added to your account if you trade a minimum amount of lots (15% of your first deposit amount) within 60 days of your account opening, clients should aply for Welcombe bonus and deposit at least $100. |
Affiliate Program |
As Referrer you can earn up to USD 1000 of IBKR stock. The Refer a Friend program allows eligible IBKR clients to refer people to IBKR for a flat fee payment. Residents of Japan, Spain and Israel are not eligible to participate in the program. |
Yes |
The XTB affiliate program allows a client of the company to earn additional income by advertising the broker and attracting new clients. The amount of such income is up to 20% of the spread of the referred client |
Other Promos |
Rebates and commission markdowns |
he XTB cashback (rebates) program is primarily for traders who trade actively. The client has the opportunity to receive partial compensation of the spread, subject to the fulfillment of the monthly trading volume |
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Top 5 Reviews on Interactive Brokers
-
Comment
What stands out for me with Interactive Brokers is their mobile app. I use the IBKR Mobile app a lot when I’m not at my desk, and it offers pretty much the same experience as the desktop version. The ability to trade everything from stocks to options while on the go is a huge plus. It also has features for international trading, which makes it easy for me to handle trades across multiple markets. The app’s interface is straightforward and user-friendly, allowing me to monitor my portfolio, execute trades, and even access research tools seamlessly. While it might lack some advanced charting features, it’s still one of the most versatile apps I’ve used, especially for global traders like me
-
Comment
I am a client of interactivebrokers and I have never faced any problems during the whole time. I am completely satisfied with the service: the staff is always friendly, responsive and ready to help, which really leaves a good impression. Special thanks to the operators - their attentive attitude to people creates a feeling of care and support. It is a pleasure to work with a company that values its customers and does everything for comfortable service!
-
Comment
As far as my experience is concerned with Interactive Brokers, the thing I love most is the sheer variety of markets available. The GlobalTrader app lets me trade in over 90 different markets, which is super convenient for someone like me who likes to diversify. The interface might feel overwhelming at first, especially on Trader Workstation, but once you get the hang of it, it’s extremely powerful. I also appreciate the competitive pricing and order options that help keep my trading costs low.
-
Comment
Interactive brokers offer a huge variety of trading instruments, which is certainly pleasing. The opportunities for trading and diversification here are excellent. However, there is one minus - the website interface is only partially translated into other languages, and it is a bit disappointing. It would be more convenient if the whole platform was available in different languages, especially for traders who do not speak English.
-
Comment
Interactive Brokers provides access to 135 markets from 33 countries, which is a huge advantage. This allows traders to easily diversify their portfolios and find opportunities around the world. I am very pleased with this broad coverage and the ability to trade in a multitude of international markets.
Top 5 Reviews on Oanda
-
Comment
I tested different account types: Standard, Core, and Premium. The conditions vary in terms of spreads and execution speed. In my case, I chose the Core account — it's the best balance between commission and execution quality. On the downside, there are no cent accounts, and the entire website is only available in English, which may not suit everyone.
-
Comment
I considered Oanda as a platform for portfolio diversification. What attracted me was its stability — the broker has been operating since 1996 and is regulated in four jurisdictions. Liquidity is provided by major banks, including JPMorgan and Deutsche Bank, which adds confidence in order execution without slippage.
-
Comment
The Oanda platform offers a solid range of instruments, including currency pairs, cryptocurrencies, metals, indices, and commodities. The minimum order size starts from 0.01 lots, and spreads for major pairs begin at 0 pips. These are favorable conditions for traders using intraday or scalping strategies.
-
Comment
When choosing a broker, I paid close attention to leverage. OANDA offers up to 1:200, which provides enough flexibility for active trading. You can trade on MetaTrader 4, 5, as well as the proprietary fxTrade platform. The stop-out level is fixed at 50%, which is in line with industry standards.
-
Comment
The conditions at OANDA are average, so I can give this broker a decent rating.
Top 5 Reviews on XTB
-
Comment
I mainly trade CFDs with XTB. The broker offers over 2,100 instruments, including stocks, ETFs, indices, and cryptocurrencies. It’s especially convenient that the commission on stock trades starts from 0.08%, and the minimum trade size is 0.01 lots. Suitable for those looking to diversify their portfolio.
-
Comment
I chose XTB because of its regulated environment — the broker is overseen by the FCA, KNF, and other European supervisory authorities. This adds a level of trust when dealing with larger sums. The average spread on EUR/USD starts from 0.9 pips, with no fixed commission. These conditions are well-suited for long-term trading.
-
Comment
For all the time I have been working with xtb I have not had any complaints - the broker works transparently and legally. Withdrawal of funds goes without delays, the platform is convenient, and in general, cooperation brings only positive impressions. Of course, as in any trading, there are moments when the market does not go in your direction, for example, gaps after the weekend. I admit that at first it was unpleasant, but then I realized that it is just market realities and not the broker's fault. Otherwise, it is a pleasure to work here - fair conditions, adequate support and stability, which is worth a lot in this sphere.
-
Comment
Withdrawal of funds in XTB company is excellent - no delays and nervousness. In most cases, the money comes the next day after the request, maximum - in two days. This is really convenient, especially if efficiency is important. I have withdrawn funds several times, and each time the process went smoothly. The service works clearly, without hidden conditions or unexpected commissions. If you need a broker where you don't have to worry about timely withdrawal of profits, everything is on top here.
-
Comment
After a bad experience with several brokers of dubious reputation, I decided to take a break from trading. I practically did not trade for a whole year, because I simply did not see a platform suitable for me. However, eventually I came across xtb, and the broker interested me. Instead of immediately rushing into trading, I decided to approach the matter thoroughly: I studied reviews, observed the company and even got a consultation. What really struck me was the attitude towards clients. When I had questions, they answered them calmly and politely, without any irritation and rudeness, which, unfortunately, is not always found in this sphere. When the time came to withdraw my earnings, the process went smoothly, quickly and without unnecessary nerves. Now I can say that I have found a worthy broker with whom it is comfortable to work.
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.