Compare Oanda vs IG Markets to select the better forex broker in 2024. Based in Europe, Oanda is a trusted FX broker regulated under multiple financial authorities. With a focus on attracting beginners, Oanda supports no minimum deposit for various brokerage accounts.
Meanwhile, IG Markets is a global FX broker supporting forex and CFD trading in 17 countries. Join IG Markets for better MetaTrader 4 support – along with a series of trading tools. As a forex trader struggling to choose between Oanda vs IG Markets, carefully review each broker’s features. Ultimately, selecting the better forex broker depends on unique trading needs. Keep reading to select the biggest forex broker in the world between Oanda vs IG Markets.
Oanda vs IG: Spreads And Trading Fees
First, compare spreads and trading fees and Oanda vs IG Markets to select the better forex broker. Notably, Oanda offers a more favorable fee structure with an average spread of 1 pip for AUD/USD. Compared to IG and other regulated forex brokers, Oanda offers lower spreads than the industry average. Plus, you can directly take advantage of Oanda’s competitive pricing without any minimum deposit requirements. Oanda requires no minimum deposit to start trading on a brokerage account – eliminating any entry barriers for beginners.
Meanwhile, IG’s market spreads start from 0.6 pips for major currency pairs like USD/AUD. You’ll need to deposit at least $250 to start trading with IG’s lower spreads. Combined with higher commissions, these minimum deposit requirements may increase your trading costs. Ideally, IG Markets offers a better fee structure for experienced traders looking to access multiple trading products at lower costs. Indeed, compare Oanda vs IG to select a forex broker with better spreads and trading fees.
Oanda vs IG: Tradeable Assets
Compare IG Markets vs Oanda to select a forex broker with better tradeable assets. With 102 unique FX currency pairs, IG Markets offers better asset selection to professional forex traders. In fact, you can access more than 17,000 CFDs – with the flexibility to request new contracts from IG Markets.
Oanda vs Interactive Brokers also highlights the unique support for limited 61 forex currency pairs, futures, commodities, and gold. Of course, IG’s limited FX trading support may fail to support professional traders looking to access multiple pairs. Keep in mind asset selection for IG vs Oanda may vary based on your current region. Definitely, select the better forex broker between Oanda vs IG Markets based on tradeable assets.
Oanda vs IG: Regulations
Next, understand regulations when comparing Oanda with AvaTrade & IG Markets to choose the best option. Founded in 1996, Oanda is regulated from multiple authorities including CFTC (Commodity Futures Trading Commission) in the US, FCA (Financial Conduct Authority) in the UK, and ASIC (Australian Securities and Investments Commission). Moreover, the broker also holds licenses from the National Futures Association in the US and the Investment Industry Regulatory Organization of Canada.
Meanwhile, IG Markets was established in 1974. This broker also follows top regulations like FCA (Financial Conduct Authority), CFTC (Commodity Futures Trading Commission, and ASIC (Australian Securities and Investment Commission). Moreover, IG Markets also holds a license from NFS (National Futures Association). Surely, compare Oanda vs IG Markets regulations to choose the better forex broker in 2024.
Oanda vs IG: Available Account Types
Next, compare Oanda vs IG Markets to choose a forex broker with better account support. With Oanda, you can choose between three main accounts – each requiring different commissions, spreads, and minimum deposits. Beginners should consider Oanda’s spread-based Standard retail accounts for better fee structures.
You can open a Standard account without any minimum deposit requirements. WhereasF, premium or core accounts offer the best trading conditions for professional high-frequency traders. IG Markets offer better account options for all international traders. With IG Markets, you can choose CFD, MT4, and DMA trading accounts. For traders with no experience, IG Markets also supports unlimited demo accounts. Here, read the IG Market reviews and sign up for a demo account to test your trading strategies in a risk-free environment. Definitely, choose a forex broker between Oanda vs IG Markets with better support for accounts.
Oanda vs IG: Trading Leverage
Finally, compare Oanda vs IG Markets to select a forex broker with better trading leverage. As an FCA-regulated forex broker in America, Oanda does not allow traders to exceed leverage limits of 1:30 for forex. As a professional traders, you can also use Oanda’s built-in calculator to check the required margin for each leveraged position.
With IG Markets, the allowed leverage limits depend on your particular country and regulatory body. For instance, UK, EU, and Australian jurisdictions require IG Markets to set strict leverage limits – capped at 1:30 for major currency pairs. You can trade minor currency pairs like CHF/JPY at an even lower leverage of 1:20. Definitely, choose Oanda and IG Markets to take advantage of better trading leverage.
There are several factors to compare Oanda vs IF Markets in 2024. Initially, determine the trading costs including spreads and commission to identify lower-cost brokers between Oanda and IG Markets. As one of the cheapest CFD brokers, IG Markets allows traders to open new account at a minimum deposit of $250. Second, compare necessary instrument availability in both Oanda and IG Markets to determine which one suits you the best.
To avoid forex broker scams, it is crucial to check and validate the regulations these brokers follow. Also, check the available account type options to choose the one based on your trading style and preferences. Plus, consider leverage offerings from these brokers before opening a live account with them. Follow the points above to find a detailed comparison between Oanda vs IG Markets to choose the suitable option for you.