Updated September 29, 2026 · BrokerCue Editorial Team
IC Markets vs OANDA
Where IC Markets and OANDA differ
| Compare | IC Markets ReviewSee alternativesSee alternatives |  OANDA |
|---|---|---|
| Minimum deposit | $200 | $0Lower |
| Markets | Stocks, Forex, CFDs, Futures, Crypto, Bonds | Stocks, ETFs, Forex, CFDs, Crypto, Bonds |
| Regulators | SIPC | FCA, CFTC |
| Investor protection | SIPC up to USD 500,000 | FSCS up to GBP 85,000 |
| Inactivity fee | $0 | Not confirmed |
| Retail accounts that lose money | Not confirmed | 72% |
| Deposit and withdrawal fees | No internal deposit fees | Not confirmed |
| Platforms | MetaTrader 4, MetaTrader 5, CTrader, TradingView, WebTrader, IC Social | Not confirmed |
| Maximum retail leverage | Not confirmed | 1:30 |
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Key differences
- OANDA scores higher overall: 9.5 vs 9.0.
- Regulators: only IC Markets offers SIPC.
- Regulators: only OANDA offers FCA, CFTC.
- OANDA is licensed in 1 more country.
- Minimum deposit is lower at OANDA: $0 vs $200.
- Markets: only IC Markets offers Futures.
- Markets: only OANDA offers ETFs.
- Features: only IC Markets offers Copy trading.
Our verdict on each
IC Markets
IC Markets suits experienced day-traders who want a wide market list and no account fee, and it is a weaker fit if you want to start small. The minimum deposit of $200 is the number most readers will notice, while the inactivity fee of $0 takes that worry away.
OANDA
OANDA fits traders who want to open an account without a minimum deposit and sit under regulators on both sides of the Atlantic. Its overall score is 8.4 with a cost score of 8.4, though the retail loss rate of 72% is a reminder that most balances do not survive the trading.
Score breakdown
| Area | IC Markets | OANDA |
|---|---|---|
| Cost | 8.9Minimum deposit of $200 sits above the site median of €4.64, while the inactivity fee is $0. | 9.7Higher |
| Offer | 9.8Higher | 9.3 |
| Trust | 8.6 | 9.5Higher |
Where these facts come from
IC Markets
- ic.com: 5 facts, checked September 26, 2026
- sipc.org: 3 facts, checked September 26, 2026
- hercules-finance.com: 2 facts, checked September 26, 2026
- fxranking.com: 1 fact, checked September 26, 2026
OANDA
- oanda.com: 4 facts, checked September 26, 2026
- brokersway.com: 3 facts, checked September 26, 2026
- tradingpedia.com: 3 facts, checked September 26, 2026
- en.wikipedia.org: 1 fact, checked September 26, 2026
How they place
| Ranking | IC Markets | OANDA |
|---|---|---|
| Stock and ETF brokers | 140 of 471 | 51 of 471 |
| Forex brokers | 60 of 147 | 20 of 147 |
| Low-spread forex brokers | 58 of 145 | 18 of 145 |
| CFD brokers | 50 of 122 | 16 of 122 |
Every fact side by side
| Fact | IC Markets | OANDA |
|---|---|---|
| Features | Demo account, Copy trading, Mobile appCovers more | Demo account, Mobile app |
| Pricing model | Low fees | Not confirmed |
| Audience | Experienced, Day traders | Not confirmed |
| Legal entity | RB INTERNATIONAL MARKETS (USA) LLC | OANDA TMS Brokers S.A. |
| Headquarters | Not confirmed | United States |
| Founded | Not confirmed | 1996 |
| Support channels | Not confirmed | Email, Phone |
Where each stands against the rest
| Fact | IC Markets | OANDA | Median |
|---|---|---|---|
| Minimum deposit | $200highest quarter | $0below the median | $25 |
| Inactivity fee | $0at the median | Not confirmed | $0 |
| Retail accounts that lose money | Not confirmed | 72%below the median | 72.05% |
Median across 134 listed brokers.
Pros and cons
IC Markets
Pros
- The inactivity fee is $0, and the brand ranks at 1 of 56 brands on that measure.
- Deposit and withdrawal carry no internal fees, so moving money in and out does not add to the cost of a trade.
- You can trade stocks, forex, contracts for differences, futures, crypto and bonds from one account, which is a wider list than eToro's stocks, etfs and forex.
Cons
- The minimum deposit of $200 sits above the site median of €4.64, so the account is less accessible than CFI, where the minimum deposit is $0.
- The brand ranks at 172 of 213 brands on minimum deposit, which puts the entry cost near the expensive end of the list.
- The stated audience is experienced traders and day-traders, so a first-time investor gets less hand-holding than the low-fees brands on the site.
OANDA
Pros
- No minimum deposit: $0 means the account opens without putting money in first, and OANDA sits at the top of our minimum deposit ranking, ahead of Vantage and its $5.
- Regulated in Britain and the US: FCA and CFTC covers an FCA licence 542574 and a CFTC registration 0325821.
- UK balances sit under protection of FSCS up to GBP 85,000, which pays compensation if the firm cannot return the money.
Cons
- Support runs on email and phone only, which leaves anyone wanting a live chat desk looking at other brokers.
- A retail loss rate of 72% is no better than the site figure of 70.15%, so the risk sits at the sector norm.
- Retail leverage of 1:30 magnifies losses as quickly as gains, and a $0 entry point makes it easy to size positions too large.
Who each suits
IC Markets
Who it suits
- Experienced day-traders trading forex, contracts for differences, futures and crypto through a single account
- Anyone who trades on several platforms and wants MetaTrader, cTrader, TradingView and a web platform side by side
- Traders who want to hold an account open without paying an inactivity fee
Who should look elsewhere
- First-time investors who want a guided, beginner-led platform, where eToro suits better
- Anyone starting with a small amount, since Vantage opens at a minimum deposit of $5 against $200 here
- Long-term investors building a portfolio of funds or exchange-traded products, which eToro covers with its wider stocks, etfs and forex
OANDA
Who it suits
- Traders who want to open an account and start small: the minimum deposit of $0 removes the barrier to funding later.
- Anyone who checks regulators before depositing, since FCA and CFTC and protection of FSCS up to GBP 85,000 are both on record.
- Forex traders who also want shares, ETFs, CFDs, crypto and bonds under one roof: stocks, etfs and forex.
Who should look elsewhere
- Futures traders, who get a longer list at eToro, where stocks, etfs and forex adds futures to the stocks, etfs and forex on offer here.
- Traders who want nothing beyond shares, ETFs, forex, CFDs and crypto, since CFI's stocks, etfs and forex covers that core without the bonds.
Questions about each
IC Markets
What is the minimum deposit to open an IC Markets account?+
The minimum deposit is $200. Set that against the site median of €4.64 to see where the entry point sits, and remember this money is committed before any trade is placed. Readers starting small may prefer a lower floor elsewhere.
Is there an inactivity fee at IC Markets?+
The inactivity fee is $0, so an account can sit open without a charge for being dormant. The brand ranks at 1 of 56 brands on that measure, which makes it one of the strongest results in our data for holding costs.
OANDA
What is the minimum deposit for an OANDA account?+
OANDA lists a minimum deposit of $0, so you can open an account without funding it and add money later. On our minimum deposit ranking that places OANDA at position 1 of 213 brands, well clear of the field. Vantage, by contrast, asks for $5 before trading starts.
How is my money protected if something goes wrong?+
UK clients sit under investor protection of FSCS up to GBP 85,000, the compensation paid if the firm cannot return the balance. The regulator behind that cover is named in FCA and CFTC, and the FCA licence number is 542574. US clients fall under the CFTC registration, 0325821, which is a separate arrangement.
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