Head to head
IG vs OANDA
IG is licensed by FCA in the United Kingdom; BaFin in the European Union; FINMA in Switzerland; ASIC in Australia; FMA (New Zealand) in New Zealand; MAS in Singapore; JFSA in Japan; CFTC / NFA in the United States; DFSA in Dubai (DIFC), UAE and FSCA in South Africa. OANDA is licensed by CFTC / NFA in the United States, FCA in the United Kingdom, KNF in the European Union, CIRO in Canada, ASIC in Australia, MAS in Singapore and JFSA in Japan, and also has an offshore registration. The licence that applies to you depends on where you live, so check which company you would contract with before comparing anything else.
Minimum deposits start at $250 at IG and $0 at OANDA. Both offer negative balance protection and segregated client money.
Facts last checked: IG on 20 October 2026, OANDA on 20 October 2026.
Monthly cost uses the account chosen in each slot: cost per lot × your lots. Swap and other fees are extra. The lowest monthly cost is highlighted only as a fact about cost, not as a recommendation.
Broker
Comparing
IGUnited Kingdom
OANDAUnited States
Overview
Founded
1974
Not yet checked
Headquarters
London, United Kingdom
Not yet checked
Official websites
- ig.com
- www.ig.com
- oanda.com
- oanda.sg
Facts last checked
20 October 2026
20 October 2026
Regulation and protection
Company you would contract with
IG Markets Ltd
OANDA Corporation
Regulation level
Strictly regulated
Strictly regulated
Clients this company serves
UK residents (CFDs and share dealing); also international accounts for South African clients
US residents (retail forex; registered futures commission merchant and retail foreign exchange dealer)
All licences held
- FCA (United Kingdom)
- FCA (United Kingdom)
- BaFin (European Union)
- FINMA (Switzerland)
- ASIC (Australia)
- FMA (New Zealand) (New Zealand)
- MAS (Singapore)
- JFSA (Japan)
- CFTC / NFA (United States)
- DFSA (Dubai (DIFC), UAE)
- FSCA (South Africa)
- CFTC / NFA (United States)
- FCA (United Kingdom)
- KNF (European Union)
- CIRO (Canada)
- ASIC (Australia)
- MAS (Singapore)
- JFSA (Japan)
- FSC (BVI) (British Virgin Islands)
FSCS up to £85,000 (UK); EdW 90% of a claim up to €20,000 (IG Europe); esisuisse up to CHF 100,000 (Switzerland); none in Australia, Singapore, South Africa or the UAE
FSCS (UK, OANDA Europe Limited clients); CIPF (Canada); other countries have their own schemes or none
Costs
Your monthly cost
No accounts listed
No accounts listed
Typical GBP/USD spread
Not yet checked
Not yet checked
Typical USD/JPY spread
Not yet checked
Not yet checked
Typical XAU/USD spread
Not yet checked
Not yet checked
Leverage and margin
1:30 on major pairs (UK, EU, Australia)
1:30 on major currency pairs (UK and EU retail clients); other companies set their own limits
Retail leverage by asset class
- Major currency pairs: 1:30
- Other currency pairs: 1:20
- Other commodities and non-major indices: 1:10
- Share CFDs: 1:5
- Major currency pairs: 1:30
- Other currency pairs: 1:20
- Other commodities and non-major indices: 1:10
- Share CFDs: 1:5
Stop-out level
50% (UK and EU retail close-out rule)
Not yet checked
Account
Minimum deposit (this account)
No accounts listed
No accounts listed
Platforms and features
Platforms
- IG web platform
- Mobile app
- MetaTrader 4
- ProRealTime
- L2 Dealer
- TradingView
- OANDA Trade web
- OANDA Trade mobile app
- MetaTrader 4
- MetaTrader 5
- TradingView
Markets
17,000+ markets, including 80+ forex pairs, indices, shares, commodities and options
Currency pairs, indices, commodities, metals, bonds, shares and ETFs as CFDs and spread bets (UK)
Copy trading
Not yet checked
Not yet checked
Expert advisors (automated trading)
Yes
Yes
News trading allowed
Not yet checked
Not yet checked
Guaranteed stops
Not yet checked
Yes
Deposits and withdrawals
Deposit methods
- Debit card
- Credit card
- Bank transfer
- PayPal
- Debit or credit card
- Bank transfer
Withdrawal fee
Free by card and bank transfer (UK)
No deposit or withdrawal fees from OANDA (UK); your bank may charge
Inactivity fee
None on the UK trading account
Monthly fee after 12 months without trading, capped at £20 a month per client (UK)
Support
Customer support
24 hours a day from 8am Saturday to 10pm Friday (UK time), by phone, web chat and WhatsApp
Not yet checked
Our notes
Strengths
- UK, EU and Swiss companies authorised by strict regulators, with client money segregated and a compensation scheme in each
- Negative balance protection for UK and EU retail clients
- No inactivity, account or card-deposit fees on the UK trading account
- Very wide market range, including spread betting for UK clients
- Licensed by strict regulators in the US, UK, EU, Canada, Australia, Singapore and Japan
- No minimum account balance and no deposit or withdrawal fees on the UK site
- Guaranteed stop-loss orders available in the UK (for a fee)
Watch out for
- Says IG International Limited (for clients outside IG's local offices) is licensed by the Bermuda Monetary Authority; we could not confirm it on the BMA register on 2026-10-20 because the BMA website was unavailable.
- The Australian IG trading account does not have negative balance protection; only the limited risk account caps losses
- IG publishes minimum spreads, not typical spreads, so the real cost depends on market conditions
- Minimum deposit varies by region: £250 in the UK, €300 in the EU, CHF 2,500 in Switzerland
- Clients outside the countries with a local OANDA company may be placed with OANDA Global Markets Ltd, which holds only an offshore licence from the BVI FSC
- UK inactivity fee after 12 months without trading, up to £20 a month
- The NFA's BASIC record for OANDA Corporation lists past NFA and CFTC regulatory actions; read them there before you open a US account
Choose at least one broker above to start comparing.
Risk warnings
The buttons to a broker’s website above the table are partner links: we may earn a commission if you open an account through them. That never changes the facts shown here. Trading leveraged products such as forex and CFDs carries a high risk of losing money rapidly, and most retail accounts lose money. Each broker’s own warning:
- IG: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
- OANDA: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Cost per lot is the typical EUR/USD spread in busy hours × $10, plus any round-turn commission, for one standard lot. “Not yet checked” means we have not confirmed that fact yet. This page compares facts; it does not rank the brokers or recommend either. Confirm costs and licences on each broker’s site and the regulator’s public register before opening an account: see how we review brokers and check a broker yourself.
Nothing on this page is financial advice. Read the full disclaimer.