Head-to-head · 2026
OANDA vs Interactive Brokers
Interactive Brokers edges it overall with 4.7 versus 4.3, winning 5 of six categories. Interactive Brokers is cheaper to trade: its lowest-cost account works out at about $5.0 per round-turn lot of EUR/USD versus $6.0 at OANDA.
Interactive Brokers
Professional and multi-asset traders
4.7/5
Visit Interactive BrokersFull review| Feature | OANDA | Interactive Brokers |
|---|---|---|
| Overall score | 4.3 | 4.7 |
| EUR/USD standard spread | 1.4 pips | No spread-only account |
| Raw account | 0.1 + $5 | 0.1 + $4 |
| Cheapest cost per lot | $6.0 | $5.0 |
| Minimum deposit | $0 | $0 |
| Tier-1 regulators | CFTC, NFA, FCA, ASIC, CIRO, MAS | SEC, FINRA, CFTC, FCA, CBI, ASIC, CIRO, MAS |
| All regulators | CFTC, NFA, FCA, ASIC, CIRO, MAS, JFSA | SEC, FINRA, CFTC, NFA, FCA, CBI, ASIC, CIRO, MAS, SFC |
| Founded | 1996 | 1978 |
| Currency pairs | 68+ | 100+ |
| Max leverage | 1:50 majors (US) | 1:50 majors (US) |
| Platforms | OANDA Web, OANDA App, MT4, TradingView | Trader Workstation, IBKR Desktop, IBKR Mobile, Client Portal, API |
| Copy trading | No | No |
| Swap-free accounts | No | No |
| US clients | Yes | Yes |
Highlighted cells mark the better value where one is clearly better. Data checked October 2026.
Category by category
Costs: OANDA vs Interactive Brokers
Interactive Brokers is cheaper to trade: its lowest-cost account works out at about $5.0 per round-turn lot of EUR/USD versus $6.0 at OANDA. On its standard, commission-free account OANDA quotes around 1.4 pips on EUR/USD. Interactive Brokers has no commission-free account; it charges a commission on interbank spreads. Both offer raw-spread pricing: OANDA at $5 and Interactive Brokers at $4 per round-turn lot.
Regulation and safety
OANDA is regulated by CFTC, NFA, FCA, ASIC, CIRO, MAS, JFSA. Interactive Brokers is regulated by SEC, FINRA, CFTC, NFA, FCA, CBI, ASIC, CIRO, MAS, SFC. Interactive Brokers scores higher for trust in our methodology. Both are available in United States, United Kingdom, European Union, Canada, Australia and Most other countries. Only Interactive Brokers serves India.
Platforms
They share no common platforms. OANDA offers OANDA Web, OANDA App, MT4, TradingView; Interactive Brokers offers Trader Workstation, IBKR Desktop, IBKR Mobile, Client Portal, API.
Which should you choose?
Choose OANDA if…
- no minimum deposit and flexible position sizing
- long track record and multiple tier-1 licences
- popular REST API for automated trading
Choose Interactive Brokers if…
- interbank spreads with very low commissions
- trade forex alongside stocks, futures, options and bonds
- s&P 500 listed with the strongest regulatory profile
Frequently asked questions
Is OANDA better than Interactive Brokers?
Interactive Brokers edges it overall with 4.7 versus 4.3, winning 5 of six categories. Interactive Brokers is cheaper to trade: its lowest-cost account works out at about $5.0 per round-turn lot of EUR/USD versus $6.0 at OANDA.
Which is safer, OANDA or Interactive Brokers?
Interactive Brokers scores higher for trust (5.0 vs 4.8), with tier-1 regulation from SEC, FINRA, CFTC, FCA, CBI, ASIC, CIRO, MAS.
Which has the lower minimum deposit?
Both have a $0 minimum deposit.
Do OANDA and Interactive Brokers both offer MetaTrader?
OANDA: MT4. Interactive Brokers: no MetaTrader.
Risk warning: CFDs and leveraged forex are complex instruments and come with a high risk of losing money rapidly. Between roughly 60% and 89% of retail investor accounts lose money when trading CFDs, depending on the provider. Consider whether you understand how they work and can afford to lose your money. Read the full risk warning.