OANDA vs IG

IG is better than OANDA for most UK traders in 2026. IG wins overall because it offers a much larger range of markets, a broader trading-platform ecosystem, direct investing alongside leveraged trading, and no current inactivity fee.

OANDA is the better fit for some forex-focused traders, particularly those who specifically want OANDA's trading environment, v20 REST API, historical FX data or a more forex-centric setup.

If you want one broker for forex, indices, commodities, shares, investing and advanced trading tools, choose IG. If your priority is primarily forex and OANDA's API or execution ecosystem suits your workflow, choose OANDA.

This comparison focuses on the UK retail offerings of OANDA Europe Limited and IG's UK entities. Broker products, leverage, pricing and platform availability differ by country.

OANDA vs IG at a glance

Why is IG better than OANDA overall?

OANDA was historically easier to differentiate through specialist forex tooling and MetaTrader access. That gap has narrowed. IG now supports MetaTrader 5 in the UK alongside MetaTrader 4, TradingView, ProRealTime, L2 Dealer and its own web and mobile platforms.

The bigger difference is market breadth. OANDA advertises more than 1,700 CFD instruments through its UK multi-asset offering. IG advertises access to more than 15,000 trading markets and also operates a separate investment proposition with more than 20,000 shares and ETFs.

That makes IG more flexible if your trading expands beyond forex.

OANDA still makes sense when you know exactly why you want OANDA. Its v20 API, FX data infrastructure and forex-first heritage remain legitimate reasons to choose it. But for a trader without a specific OANDA requirement, IG gives you more room to grow.

OANDA vs IG fees and spreads

Both brokers advertise minimum EUR/USD spreads starting from 0.6 pips in the UK.

That does not mean your actual trading cost will always be 0.6 pips. Forex spreads are variable and can widen according to liquidity, volatility, trading session and market conditions.

There are also meaningful differences between individual currency pairs. For example, IG currently advertises a minimum USD/JPY spread of 0.7 pips, while OANDA lists USD/JPY from 1.3 pips on its UK pricing page.

The correct way to compare OANDA and IG pricing is therefore not to ask which broker has the lowest headline spread. Compare the actual instruments you trade during the sessions when you normally trade them.

Does OANDA charge an inactivity fee?

Yes. OANDA Europe Limited currently charges an inactivity fee after 12 months without trading activity. The charge can reach £20 per client per month, although OANDA does not apply it while an open position exists.

IG's current UK charges page lists its inactivity fee as free.

That gives IG a straightforward advantage for occasional traders who may leave an account dormant for long periods.

Does OANDA have a minimum deposit?

OANDA does not require a minimum deposit or minimum account balance for its UK account.

You still need enough available capital to satisfy the margin requirement of any position you open.

Minimum deposit figures found on third-party broker comparison sites can become outdated quickly, so the broker's current account and funding documentation should take priority.

Which has better trading platforms, OANDA or IG?

OANDA UK supports:

• OANDA Web
• OANDA Mobile
• TradingView
• MetaTrader 4
• MetaTrader 5

OANDA also integrates TradingView-powered charting into parts of its own platform ecosystem.

IG UK supports:

• IG's web trading platform
• IG's mobile app
• TradingView
• MetaTrader 4
• MetaTrader 5
• ProRealTime
• L2 Dealer
• Trading APIs

The addition of MT5 is important because older OANDA vs IG comparisons may still state that OANDA supports MT5 while IG does not. That information is no longer current for UK traders.

Is OANDA or IG better for TradingView?

There is no strong reason to choose OANDA over IG purely for TradingView in 2026 because both brokers provide TradingView connectivity in the UK.

The decision should instead come down to the markets you trade, spreads on those markets, order functionality and whether you also need the broker's other platforms.

Is OANDA or IG better for MetaTrader?

Both now support MT4 and MT5, so MetaTrader alone is no longer a decisive differentiator.

IG has the broader surrounding platform ecosystem. OANDA remains attractive to forex traders already using OANDA accounts, its pricing infrastructure or its API.

OANDA vs IG for automated and API trading

OANDA's v20 REST API provides programmatic access to its v20 trading engine. It can retrieve real-time pricing, place and manage orders and access historical pricing data dating back to 2005.

IG provides REST and streaming APIs for retail traders. Its APIs can retrieve historical data and real-time prices, monitor account information and execute trades. IG also provides FIX connectivity through its institutional offering.

So the simplistic claim that "OANDA has an API and IG doesn't" is wrong.

I'd split the decision this way:

Choose OANDA for API trading if your system is primarily forex-focused and you specifically want the OANDA v20 ecosystem.

Choose IG for API trading if broad market access and integration with IG's wider trading ecosystem matter more.

For a serious automated strategy, compare API limits, available instruments, execution behaviour and real trading costs before moving meaningful capital. API feature lists alone do not tell you how a strategy will perform.

Which broker has more markets?

IG wins by a very large margin.

OANDA's UK multi-asset offering advertises more than 1,700 CFD instruments, including forex, shares, indices, commodities, metals and bonds.

IG advertises access to 15,000+ trading markets through its UK trading platforms. IG also offers a separate investing service covering more than 20,000 shares and ETFs.

The difference matters if you want to trade smaller equities, a wider range of international markets or combine leveraged trading with long-term investing.

If you trade nothing except the major FX pairs, however, a five-figure instrument count has little practical value. What matters is whether your broker covers the exact markets you use at competitive prices.

Is IG or OANDA better for forex trading?

Both brokers offer the major and minor currency pairs, competitive headline spreads, TradingView, MetaTrader and automated trading options.

IG gets the default recommendation because its broader platform stack, current fee structure and wider product range give a trader more flexibility without forcing a meaningful compromise on mainstream forex functionality.

OANDA becomes more compelling when your requirements are specifically forex-centric. Its v20 API, historical pricing infrastructure and established FX tools can matter more to a systematic forex trader than access to thousands of extra equity markets.

In other words, IG wins the general forex comparison. OANDA can win a specific forex workflow.

Which is safer, OANDA or IG?

OANDA Europe Limited is authorised and regulated by the Financial Conduct Authority under firm reference number 542574. OANDA states that retail client money is separated from its own resources and held in segregated accounts.

IG Markets Limited is authorised and regulated by the FCA under firm reference number 195355, while other IG products can be provided through separate regulated IG entities. IG also states that retail client money and assets are segregated from company resources.

IG has one additional transparency advantage: its parent group is listed on the London Stock Exchange, which brings public financial reporting and shareholder disclosure requirements.

That does not make trading itself safe. CFDs and spread bets are leveraged products and can produce rapid losses.

Is OANDA or IG better for beginners?

The reason is not simply that IG's interface is easy to use. IG gives a new trader a broader ecosystem of platforms, education, demo trading and market access, while still allowing them to move into more advanced tools such as TradingView, MT5 and ProRealTime later.

OANDA is also relatively accessible, particularly for someone who wants a focused forex setup. Its absence of a minimum deposit requirement is useful when opening or testing an account.

Beginners should not interpret easy account opening as evidence that CFDs or leveraged forex trading are easy products. They are not.

Choose OANDA if...

OANDA is the better choice if you:

• primarily trade forex
• specifically want the OANDA v20 REST API
• value OANDA's historical FX pricing and forex infrastructure
• already use an OANDA-based automated strategy
• want an account with no minimum deposit requirement
• prefer OANDA's own platform or workflow

Choose IG if...

IG is the better choice if you:

• want the best all-round option
• trade several asset classes
• want access to substantially more markets
• want TradingView, MT4 or MT5
• want ProRealTime or L2 Dealer
• want both leveraged trading and direct investing
• may want a GIA, ISA or SIPP in the future
• want to avoid OANDA's current inactivity fee

OANDA vs IG for US traders

OANDA Corporation accepts eligible US customers and is registered with the Commodity Futures Trading Commission and is a member of the National Futures Association. OANDA's US offering includes more than 68 forex pairs, with OANDA Web, mobile, TradingView and MT4 available.

IG's former US forex business has been rebranded as tastyfx. The current US comparison is therefore more accurately framed as OANDA vs tastyfx, not OANDA vs IG UK.

That jurisdiction distinction is important because product availability, leverage, regulation and account protections are not interchangeable between the UK and US.

OANDA vs IG: final verdict

IG gives you 15,000+ trading markets, a stronger overall platform ecosystem, TradingView, MT4, MT5, ProRealTime, L2 Dealer, API trading and a separate investment offering. Its current UK pricing also avoids the inactivity charge OANDA applies after prolonged inactivity.

OANDA remains a strong choice for forex specialists, especially traders whose decision is driven by OANDA's v20 API, historical FX data or existing OANDA workflow rather than sheer market breadth.

The simplest decision is:

Choose IG for the better all-round broker. Choose OANDA when you have a specific forex or API-related reason to prefer OANDA.

Risk warning: CFDs and spread bets are leveraged products and carry a high risk of loss. Broker terms, spreads and product availability can change. Check the current terms for the regulatory entity that will actually hold your account before depositing.