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IC Markets
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OANDA

IC Markets vs OANDA: which broker is better in 2026?

We compare IC Markets and OANDA — two forex & CFD brokers — side by side across regulation, fees, platforms, minimum deposit, and our editorial scores. Based on our overall editorial score, IC Markets edges ahead (4.1/5), but the right choice depends on what matters most to you — check the breakdown below.

Side-by-side comparison

CriteriaIC MarketsOANDA
Overall score 4.1 4.0
Regulation & safety 3.5 4.5
Fees & deposit 4.5 3.5
Platform & assets 4.5 4.0
User support 4.0 4.0
Trust score80/10083/100
Minimum depositVaries by account type — check the official siteVaries by account type — check the official site
Demo accountAvailableAvailable
PlatformsMetaTrader 4, MetaTrader 5, cTrader, TradingView, WebTrader, IC Mobile AppProprietary web/desktop platform, MetaTrader 4, TradingView (integrated), Mobile app, API v20
Fee modelSeveral account types (Raw Spread, Standard, Raw Pro/Pro+, cTrader Raw Spread, Swap Free) — the fee structure per account type has not been verified in detailSpread model (Standard account) or core spread + commission (Core/Elite) — per-region details not yet verified with exact figures

Pros & cons

IC Markets
  • One of the most popular raw-spread ECN brokers for scalping/algo trading (very low costs)
  • Very complete platform selection (MT4/MT5/cTrader/TradingView)
  • Regulated by ASIC (Australia) + CySEC for certain entities
  • A class-action record (reported since 2024) alleging it misled investors — no verdict yet, but a relevant public fact
  • Many clients via offshore entities (Seychelles/Bahamas)
  • Leverage is high-risk
OANDA
  • Very strong & rare regulation — licensed in the US (NFA/CFTC) plus FCA/ASIC/MAS/IIROC
  • Respected reputation for price data & execution; strong trading API for automation
  • Flexible platform choice: proprietary + MT4 + TradingView
  • Not the cheapest for high volume compared to raw ECN brokers
  • Product availability (e.g. crypto CFDs) differs per region/entity
  • Leveraged products remain high-risk

Regulation at a glance

IC Markets

Exact license numbers not yet verified — the official site mentions multi-regulation but the detailed regulation page was inaccessible during our check. Verify directly with the regulator (ASIC, CySEC, or the Seychelles FSA depending on the entity) before signing up.

OANDA

Operates multiple entities with strict oversight per region: NFA/CFTC (US), FCA (UK), ASIC (Australia), MAS (Singapore), IIROC (Canada). One of the few retail brokers licensed in the US market.