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IG vs OANDA 2026
A detailed head-to-head comparison of IG and OANDA across regulation, trading costs, platforms, and more.
Score Breakdown
Category-by-Category Winner
Detailed Comparison
Overview
Trading Costs
Platforms & Features
Instruments
IG vs OANDA: Our Analysis
Overall Verdict
With an overall score of 83.7/100 vs 79.6/100, IG slightly edges out OANDA by 4.1 points. Both brokers are closely matched, so your choice should come down to specific features that matter most to you.
Trading Costs
On the EUR/USD pair, IG offers an average spread of 0.60 pips commission-free, while OANDA comes in at 1.40 pips commission-free. IG offers tighter pricing on EUR/USD. Minimum deposit is $0 at IG and $0 at OANDA.
Regulation & Safety
IG holds 6 regulatory licenses with a highest tier of Tier 1 (FCA, ASIC, BaFin), while OANDA has 6 licenses at Tier 1 (FCA, CFTC/NFA, ASIC). Both brokers are equally regulated.
Platform Comparison
IG offers MT4, IG Trading Platform — uniquely offering IG Trading Platform which OANDA does not have. OANDA supports MT4, MT5, TradingView, OANDA Trade, with exclusive access to MT5, TradingView, OANDA Trade. OANDA provides a wider platform selection.
Who Should Choose Which?
IG suits cost-conscious traders, beginners seeking education, traders who want advanced tools, traders who prioritize safety, traders wanting a wide instrument range, while OANDA is better for a broad range of trading styles. Both brokers offer demo accounts, so you can test each before committing real funds.
Frequently Asked Questions
Based on our testing, IG scores higher overall at 83.7/100 compared to OANDA's 79.6/100. However, "better" depends on your priorities — OANDA may be superior in specific categories like certain niche features.
IG offers tighter spreads with an average EUR/USD spread of 0.60 pips, compared to 1.40 pips at OANDA. Check our detailed comparison table above for GBP/USD and USD/JPY spreads as well.
IG scores higher for regulation and trust at 98/100, holding licenses from FCA, ASIC, BaFin. OANDA scores 95/100 with FCA, CFTC/NFA, ASIC.
For beginners, IG is the stronger choice with an education and research score of 85/100. It offers structured trading courses, webinars, and a free demo account. OANDA scores 80/100 for education.
Yes, there is no restriction on having accounts with both IG and OANDA simultaneously. Many experienced traders maintain accounts with multiple brokers to take advantage of each broker's strengths — for example, using one for its lower spreads on majors and another for its wider instrument range or better platform features.
Reviewed by
Neil CNeil C is a financial markets analyst and forex trading specialist with over 10 years of experience evaluating broker platforms, trading conditions, and regulatory frameworks. He has personally tested accounts with dozens of brokers and brings a data-driven methodology to every review.
Last updated: April 2026