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OANDA vs Interactive Brokers

OANDA is a regulated forex broker with no minimum deposit. How does it compare to Interactive Brokers? Read our comparison chart below.

 OANDA
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OANDA

Interactive Brokers

SPECIAL OFFER
Earn Cash Rebates of up to $17 per Million - Learn More

Read OANDA Review

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Referral Program - $200 Bonus - Learn More

Read Interactive Brokers Review

 

Benefits and Features

Stock Trading
No
IBKR Lite: $0 per share (min $0 per order)
IBKR Pro - Fixed: $0.0005 per share (min $1.00 per order, max 1.0% of trade value)
IBKR Pro - Tiered: Starts at $0.0035 per share for less than 300,000 shares (min $0.35 per order, max 1% of trade value)
Options Trading
No
$0.15-$0.65 per contract ($1 minimum per order)
Annual Fee 
None
Cryptocurrency Trading 0.12% to 0.18% of trade value ($1.75 minimum per order)
Minimum Deposit
$0
$0
Mutual Fund Trading
No
$0 for no-transaction-fee funds. For transaction-fee funds, 3% trade value OR $14.95, per transaction, whichever is less
Commission Free ETFs
Not available
150+
Live Chat Support
Yes
 
Penny Stocks
Not available
 
Broker Assisted Trades
Not available
$30
Inactivity Fee
$10/month
$0
Maintenance Fee
None
$0
Online Platform
Yes
 
Banking
No
No
Mobile App
Yes
Yes
Desktop App
Yes (fxTrade)
Yes
Forex Trading
Yes
Available for qualified customers
Futures Trading
No
Yes
Bond Trading
No
 
CFD TradingYes (CFD trading is not permitted in the US) 
Currency Trading
Yes
 
Customer ServiceLocal number +1 212 858 7690;
Toll-free number 1 877 OANDA FX (1 877 626 3239)
Sunday 4PM ET to Friday 6PM ET		United States: Monday-Friday 8am - 10pm ET; Sunday 1pm - 7pm ET (24/7 Weekday service available in other countries)
Locations
Online only
No
Online Community
Yes
Yes
Seminars
Yes
Yes
Trading PlatformOANDA Web, OANDA Mobile, TradingVIew, MetaTrader4Desktop, Web Trading, Mobile Apps
Virtual Trading
Yes
Yes
 

CreditDonkey® Reviews

 OANDA
SpreadStarStarStarStarEmpty Star
Mobile AppStarStarStarStarEmpty StarStarStarStarStarStar
Customer ServiceStarStarStarStarStar
Ease of UseStarStarStarStarEmpty StarStarStarStarEmpty StarEmpty Star
EducationStarStarStarEmpty StarEmpty Star
Forex TradingStarStarStarStarHalf Star
Trading PlatformStarStarStarStarHalf Star
TrustworthyStarStarStarStarStar
Stock TradingStarStarStarStarStar
Options TradingStarStarStarStarStar
Mutual Fund TradingStarStarStarStarEmpty Star
Online PlatformStarStarStarStarStar
BankingStarStarStarStarEmpty Star
Commissions and FeesStarStarStarHalf StarEmpty Star
ResearchStarStarStarStarEmpty Star
Pros & ConsPros:
  • $0 minimum
  • Exceptional customer service
  • User-friendly platform
Cons:
  • Only 1:50 leverage
  • Slow withdrawal processing
  • Incomprehensive educational videos
Pros:
  • Large number of investments, including options, futures, and forex
  • Customize trading platform
  • Tools and opportunities for research
Cons:
  • Platform can be too much for a beginner to understand
  • Complicated pricing structure
Bottom LineRegulated forex broker with no minimum deposit... Read full reviewGood discount broker for experienced, high volume traders... Read full review
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Referral Program - $200 Bonus

Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

OANDA: Information sourced from the published website as of 04/22/2024.

Interactive Brokers: Pricing information from published websites as of 10/17/2023.

OANDA: OANDA Corporation is regulated by the CFTC/NFA. OANDA is a member Firm of the NFA (Member ID: 0325821). CFDs are not available to residents in the United States. Affiliate receives a commission for accounts opened through the link on this page

OANDA CORPORATION IS A MEMBER OF NFA AND IS SUBJECT TO NFA'S REGULATORY OVERSIGHT AND EXAMINATIONS. HOWEVER, YOU SHOULD BE AWARE THAT NFA DOES NOT HAVE REGULATORY OVERSIGHT AUTHORITY OVER UNDERLYING OR SPOT VIRTUAL CURRENCY PRODUCTS OR TRANSACTIONS OR VIRTUAL CURRENCY EXCHANGES, CUSTODIANS OR MARKETS

Trading in digital assets, including cryptocurrencies, is especially risky and is only for individuals with a high risk tolerance and the financial ability to sustain losses. OANDA Corporation is not party to any transactions in digital assets and does not custody digital assets on your behalf. All digital asset transactions occur on the Paxos Trust Company exchange. Any positions in digital assets are custodied solely with Paxos and held in an account in your name outside of OANDA Corporation. Digital assets held with Paxos are not protected by SIPC. Paxos is not an NFA member and is not subject to the NFA's regulatory oversight and examinations.

Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances. You may lose more than you invest. Information on this website is general in nature. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. Trading through an online platform carries additional risks.

Which is Better: OANDA or Interactive Brokers?

Still need help deciding which investing is better? Read the in-depth reviews below. You may also be interested in comparing OANDA or TradeStation.

In short: OANDA's ease of use is worth mentioning. Interactive Brokers' mobile app is outstanding.

Articles on OANDA

OANDA Review

OANDA is one of the leading forex and CFD trading providers. But what does it offer? Read on to discover how OANDA elevates your trading journey.

OANDA Spreads

OANDA is one of the world's top forex brokers. But does it have competitive spreads? Read on to find out.

OANDA Withdrawal

Trading is no fun if you can't withdraw your earnings. So how do you withdraw funds at OANDA? Read on to find out.

OANDA Minimum Deposit

OANDA is a suitable forex broker for traders of all levels. Wondering if it has a minimum deposit requirement? Read on to find out.

OANDA Approval Time

OANDA is one of the world's most reputable forex brokers. But how long does it take to get your account approved? Read on to find out.

OANDA vs FOREX.com

OANDA and FOREX.com are both highly regulated and trusted forex brokers. But one of them is a better option. Which one?

Articles on Interactive Brokers

Interactive Brokers

Interactive Brokers offers a robust trading platform that experienced traders favor due to its competitive fee structure and extensive range of trading options.

Which Do You Think is Best?




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