Choose IC Markets if you want…
Active scalpers, algorithmic traders, and high-volume traders who prioritise execution quality and tight raw spreads.
IC Markets
⭐ 4.7 / 5
VS
OANDA
⭐ 4.6 / 5
IC Markets vs OANDA — which broker is better in 2026?
We compared IC Markets and OANDA across five core criteria: regulation, minimum deposit, spreads, platform choice, and overall user rating. The two brokers are evenly matched — your final choice depends on your specific trading style.
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| IC Markets | OANDA | Winner | |
|---|---|---|---|
| Rating | ⭐ 4.7 / 5 | ⭐ 4.6 / 5 | IC Markets |
| Regulators | ASIC, CySEC, FSA Seychelles, SCB Bahamas | FCA, ASIC, CFTC/NFA, MAS, FSA Japan, IIROC | OANDA |
| Min. deposit | $200 | $0 (no minimum) | OANDA |
| Spreads from | 0.0 pips (Raw Spread) | 0.6 pips (Standard) | IC Markets |
| Max. leverage | Up to 1:30 (EU retail) / 1:500 (offshore) | Up to 1:30 (EU retail) / 1:50 (US) | — |
| Platforms | MT4, MT5, cTrader, TradingView | MT4, MT5, OANDA Trade (web + mobile), TradingView | Tie |
| Founded | 2007 | 1996 | — |
| HQ | Sydney, Australia | Toronto, Canada / New York, USA | — |
Pros & cons compared
IC Markets pros
- ✓ Industry-leading raw spreads (0.0 pips on EUR/USD typical)
- ✓ Three platforms: MT4, MT5, cTrader — one of few brokers offering cTrader
- ✓ Equinix NY4 server location — sub-millisecond execution for HFT/scalpers
- ✓ ASIC + CySEC dual-tier-1 regulation
- ✓ No restrictions on scalping, EAs, or hedging
Cons
- ✗ $200 minimum deposit — higher than budget brokers
- ✗ EU leverage capped at 1:30 retail (ESMA)
- ✗ Educational content thinner than XM / eToro
OANDA pros
- ✓ Founded 1996 — among the longest-running FX brokers
- ✓ Six tier-1 regulators including FCA, CFTC/NFA, ASIC, MAS
- ✓ One of few non-US brokers with direct US CFTC/NFA regulation
- ✓ No minimum deposit, fractional pip pricing
- ✓ Excellent proprietary OANDA Trade platform + TradingView integration
Cons
- ✗ Spreads on Standard account (0.6+ pips) not the absolute tightest
- ✗ EU leverage 1:30 (ESMA); US leverage 1:50
- ✗ Limited crypto offering vs. peers
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Which one should you choose?
Choose OANDA if you want…
US-resident traders + serious EU/UK traders wanting institutional-grade regulation and a clean proprietary platform.
Frequently asked questions
Which is better — IC Markets or OANDA?
IC Markets and OANDA are evenly matched on most measurable criteria. Your choice should depend on which specific features matter most — review the comparison table above and the "Pros & Cons" section.
Is IC Markets more regulated than OANDA?
IC Markets holds licenses from: ASIC, CySEC, FSA Seychelles, SCB Bahamas. OANDA holds licenses from: FCA, ASIC, CFTC/NFA, MAS, FSA Japan, IIROC. OANDA has more regulatory licenses, giving it broader geographic coverage.
What are the spreads at IC Markets vs OANDA?
IC Markets spreads start from 0.0 pips (Raw Spread). OANDA spreads start from 0.6 pips (Standard). Actual spreads vary by account type and market conditions.
Which has a lower minimum deposit, IC Markets or OANDA?
IC Markets: $200. OANDA: $0 (no minimum). OANDA has the lower entry barrier.