Oanda vs IFC Markets - Fees Review included
Which broker is better Oanda or IFC Markets? Our expert assessment conducted according to TU’s own methodology showed that Oanda is one of the top brokers in the financial market with the TU Overall Score of 5.28 out of 10. IFC Markets is one of the top brokers in the financial market with the TU Overall Score of 5.6 out of 10. Find out more about TU Overall Score.
| Feature | Oanda | IFC Markets |
|---|---|---|
Overall |
4.4 |
3.8 |
5 |
2.6 |
|
4.5 |
3.5 |
|
3.5 |
4.3 |
|
Investment Instruments |
4.1 |
1 |
Platforms and Charting Tools |
4.8 |
4.5 |
Deposit and Withdrawal |
4.2 |
4.6 |
Research |
4.7 |
3.7 |
Education |
4.5 |
3.6 |
Support |
4.8 |
4.7 |
Bonuses |
4.6 |
4.1 |
|
|
|
Oanda vs IFC Markets: Pros and Cons
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.
IFC Markets was established in 2006. The company is owned by IFCM Group, a financial corporation that turned the services of providing access to international asset markets into a separate business. The broker focuses on two areas – classical trading services and synthetic instrument trading services. The broker is regulated by BVI FSC (British Virgin Islands). Deposits of the traders are insured at AIG Europe Limited.
| Oanda | IFC Markets | |
|---|---|---|
| Overall Pros | Regulated by a range of reputable financial bodies | Unique instruments for trading: portfolio quoting, continuous stock indices and derivatives, and a proprietary trading platform. |
| Real-time news and fundamental analysis tools | Insurance against risks of professional liability. | |
| localized and multilingual phone support | Over 600 trading assets of different classes, including synthetic instruments. | |
| User-friendly platform for new forex traders | ||
| Outstanding research tools | ||
| Financial information publicly available | ||
| High educational value through written content and videos | ||
| Orders get executed with no requotes | ||
| Deposit minimum as low as $1 | ||
| Overall Cons | No programs offering bonus | Relatively high spread – from 1.8 pips. |
| Slow withdrawal of funds | Complex verification. Certification of the documents by a notary public and their translation into English may be required. | |
| Offshore regulation, which is unlikely to help a trader in any way. | ||
| The broker’s proprietary platform does not envisage the use of an advisor and indicators on MQL. Translation into the platform’s language is performed at the trader’s expense. | ||
| There are no passive income programs. |
Oanda vs IFC Markets: Safety and Regulation
| Regulated By: | Oanda | IFC Markets |
|---|---|---|
US Regulation |
Yes (CFTC, NFA) |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
Yes |
No |
Other Regulators |
European Union (regulated by the MFSA), Singapore (regulated by the MAS), Canada (regulated by IIROC), Japan (regulated by FSA) |
BVI FSC (British Virgin Islands) and LFSA (Labuan, Malaysia). |
Oanda vs IFC Markets: Trading Conditions
| Trading Conditions | Oanda | IFC Markets |
|---|---|---|
Minimum Deposit |
No minimum deposit |
$1 |
Trading Platforms |
MT4, OANDA, TradingView |
МТ4, МТ5, NetTradeX |
Max Leverage (Futures) |
1-50 |
1-400 |
Supported Markets |
Forex, CFDs (not for all entetities): Forex, Indexes, Commodities, Metals, Bonds, Cryptocurrencies |
Currencies, assets of stock and commodity markets, synthetic instruments |
Trading assets |
120+ |
600+ |
Trading Accounts |
Standard, Core, and Swap-free |
NetTradeX - Beginner-Fixed, Standard-Fixed, Beginner-Floating, and Standard-Floating accounts; MetaTrader 4 – Micro-Fixed and Standard-Fixed accounts; MetaTrader 5 – Micro-Floating and Standard-Floating accounts |
Base Account Currencies |
USD, EUR, HKD, SGD |
EUR, USD, and JPY |
Oanda vs IFC Markets: Fees
Forex Trading Fees
| Fee | Oanda | IFC Markets |
|---|---|---|
Standard Account EURUSD Average Spread |
1.2 pips |
1.8 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
not offered |
Not supported |
ECN Account EUR Average Spread |
not offered |
Not supported |
CFD Trading Fees
| Fee | Oanda | IFC Markets |
|---|---|---|
CFD Trading Fee |
Floating spread |
Fixed or floating spread |
Non-Trading Fees
| Fee | Oanda | IFC Markets |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
Bank transfer around $30 / €30 / ¥3000 per transfer, Perfect Money 0,5-2%, Debit/Credit card 0%, Bitwallet 0%, Webmoney 20% |
Withdrawal Fee |
$20 - just for bank transfer |
Bank transfer around from $25 / €25 / ¥2500, Perfect Money 0,5%, Debit/Credit card 2% + $7,5 / 2% + €6 / ¥1500, Bitwallet 0%, Webmoney 0.8% |
Inactivity Fee |
After 12 months of inactivity, 10 units of your account’s currency denomination |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Oanda vs IFC Markets: Trading Assets
| Asset Name | Oanda | IFC Markets |
|---|---|---|
Overall |
120+trading assets |
600+ |
Forex |
Yes |
Yes |
Stocks |
No |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
Yes (CFD) |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
Oanda or IFC Markets: Investment Programs
| Asset Name | Oanda | IFC Markets |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: IFC Markets or Oanda
| Oanda | IFC Markets | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
Oanda |
No |
Others |
No |
NetTradeX |
|
|
|
Oanda vs IFC Markets: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Oanda | IFC Markets |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes (not for all markets) |
Yes |
Crypto |
No |
Yes |
Oanda vs IFC Markets: Research
| Research Type | Oanda | IFC Markets |
|---|---|---|
News Feed |
Yes |
No |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
No |
Oanda vs IFC Markets: Education
| Education Type | Oanda | IFC Markets |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
Yes |
No |
Videos |
Yes |
Yes |
Cent account |
Yes |
No |
IFC Markets vs Oanda: Support
| Support Features | Oanda | IFC Markets |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
Skype, messenger, Telegram, WhatsApp, Call Back |
Oanda vs IFC Markets: Forex Bonuses and Promo
| Promo | Oanda | IFC Markets |
|---|---|---|
Forex Bonus |
Yes (Not for all countries) |
Follow Your Dream, This is an opportunity to win a car +30% activity bonus. To participate, a trader must make a minimum deposit of $250. Annual Interest +7% annual interest for the sum that is not used for trading operations |
Affiliate Program |
Yes |
Yes |
Other Promos |
Rebates and commission markdowns |
|
|
|
|
Top 5 Reviews on IFC Markets
-
Comment
Reviews about IFC Markets I am one better than the other, well, I will have a negative one, because I did not see anything good with this company. I traded here for 10 months, drained and restored the deposit more than once, the terminal was buggy and transactions were closed without my participation. Finally my patience ran out and I left.
-
Comment
I made a deposit to the trading account, but there is no deposit in the personal account or in the terminal, although the status transfer is accepted.
-
Comment
After IFC Markets drained $2,000 from my account, of course I do not trade with it, this is my personal negative experience. Others want to say that they have no access to bidding, everything is skillfully imitated. Everything is fine as long as you deposit money, when you take more than you deposit, they drain you. It's just a pyramid scheme.
-
Comment
I trade in IFCMarkets on a cent account, because I'm not sure yet whether to trust this broker. For a month of work, the impressions are positive, but I also revealed some minor flaws. For example, on my account, the broker offers an MT4 terminal, which will not be available on a standard account. From what I liked: in your personal account, you can set the level of leverage yourself. I believe that the maximum 1:400 for an inexperienced trader will lead to a loss of money, therefore, on the advice of the company's specialists, it was limited to 1:100. Another advantage of IFCMarkets is that its website has a section with daily technical analysis of currency pairs, which helps me a lot at this stage. I recommend this broker to beginners like me.
-
Comment
The IFC Markets broker talks about innovative trading, but through personal experience I can say that these are just all bark and no bite. In fact, this broker still needs to improve upon the service quality to gain the trust of traders. Several times I was subject to the fact that orders did not work for some unknown reason. The impression was that the company artificially twisted with the charts at the right moment (I found this with MT4). The profit comes out a penny because of this. I spend a lot of time and energy on trading, but it wasn’t worth it.
Top 5 Reviews on Oanda
-
Comment
I can describe OANDA as one of the most proper brokers on the currency market. It works quickly, there are no failures, and no market movements have a significant impact on it. I'm safe here.
-
Comment
OANDA is a good company and I plan to continue trading with them. I started with a demo account and then switched to a live one with a small deposit. OANDA successfully passed my tests in trading and withdrawals. I easily withdraw profits to my bank card.
-
Comment
I got acquainted with the OANDA broker online. Initially, I read reviews about it and decided to give this platform a try. If you do everything correctly, you can pass the verification process, although it does take some time. Then, the actual trading process began. The conditions at OANDA are average, so I can give this broker a decent rating.
-
Comment
The broker OANDA is licensed by reliable regulators, offers a wide range of financial services, boasts years of experience, multiple regulators, and significant awards. There is a vast selection of popular trading instruments, a very low minimum deposit, and qualified technical support. However, the OANDA website occasionally functions poorly. Overall, I currently have no major complaints about trading with this broker.
-
Comment
OANDA offers tight spreads, is licensed, and has a low entry threshold and fast withdrawals. The overall impression of working with this company is positive. I would recommend this broker. Another advantage is that OANDA's client support is excellent.
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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.
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.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!