OANDA vs IG
By Itai Varochik | Updated 2026
Quick Verdict
Overall Winner: IG (4.5/5)
We tested OANDA and IG side-by-side. IG comes out ahead overall, but OANDA may be better for specific use cases.
Score Breakdown
| Criteria | OANDA | IG |
|---|---|---|
| Features | 7/10 | 9/10 |
| Ease of Use | 8/10 | 7.5/10 |
| Value for Money | 8.5/10 | 8/10 |
| Customer Support | 7.5/10 | 8/10 |
| Overall | 7.8/10 | 8.5/10 |
Feature Comparison
| Feature | OANDA | IG |
|---|---|---|
| Forex Trading | Yes | Yes |
| CFDs | Yes | No |
| API Trading | Yes | No |
| TradingView | Yes | No |
| MT4 | Yes | No |
| CFD Trading | No | Yes |
| ProRealTime | No | Yes |
| MT4 Integration | No | Yes |
| Risk Management | No | Yes |
Pricing Comparison
OANDA: From 1.0 pips EUR/USD
IG: From 0.6 pips EUR/USD
OANDA Pros & Cons
Pros
- No minimum deposit
- Transparent pricing
- Flexible lot sizes
- Excellent REST API
Cons
- Limited product range
- Platform feels dated
IG Pros & Cons
Pros
- Regulated by FCA, ASIC, CFTC and more
- 50+ years of operating history
- 17,000+ tradeable markets
- Excellent proprietary platform
- Outstanding education via IG Academy
Cons
- Not the cheapest spreads available
- US clients limited to forex only
- $12/month inactivity fee after 2 years
- Support wait times during peak hours
- DMA requires higher minimum
Key Specifications
| Spec | OANDA | IG |
|---|---|---|
| Rating | 4.3/5 | 4.5/5 |
| Pricing | From 1.0 pips EUR/USD | From 0.6 pips EUR/USD |
| Year Founded | 1996 | 1974 |
| Headquarters | New York, NY | London, UK |
| Employees | N/A | 2,500+ |
Our Verdict
IG wins overall. Choose OANDA if you value Forex beginners. Choose IG if you prioritize Experienced forex traders.
Frequently Asked Questions
Is OANDA better than IG?
Based on our testing, IG scores higher with a rating of 4.5/5 compared to OANDA's 4.3/5. However, the best choice depends on your specific needs.
What is the main difference between OANDA and IG?
OANDA is known for: Transparent forex broker with competitive spreads and no minimum deposit.. IG is known for: One of the longest-running brokers with 17,000+ markets and top-tier regulation..
Which is cheaper, OANDA or IG?
OANDA pricing: From 1.0 pips EUR/USD. IG pricing: From 0.6 pips EUR/USD.
Can I use OANDA and IG together?
While both tools serve similar purposes in the Forex Brokers category, some users do use complementary features from both platforms.
What are the pros of OANDA?
No minimum deposit. Transparent pricing. Flexible lot sizes
What are the pros of IG?
Regulated by FCA, ASIC, CFTC and more. 50+ years of operating history. 17,000+ tradeable markets
Which forex brokers should I choose?
Choose OANDA if you value Forex beginners. Choose IG if you prioritize Experienced forex traders.