Online Broker | Minimum Deposit | Trading Platforms | Markets | About |
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Oanda | $0 Minimum Deposit | MT4, MT5 Trading Platforms | 800+ Markets To Trade | Oanda provides MT4 and MT5 with a wide range of tools and is a long established Forex broker About |
IQ Option | $10 Minimum Deposit | Web Trader & Apps Trading Platform | 300+ Markets To Trade | IQ Option offers a user friendly platform with a $10 minimum deposit and $1 minimum order size About |
Oanda vs IQ Option Comparison
This is a comparison of Oanda Global Markets Ltd based and regulated in the British Virgin Islands vs IQ Option. IQ Option was founded in 2014 and focuses on providing a user friendly platform, which has a low minimum depost and order size to use. Oanda has been an MT4 broker since 1996 when it was founded in Toronto, Canada and provides this platform and MT5 with a range of tools for all types of traders, including automated traders.
Oanda provides a wide range of tools to supplement MT4 and MT5 and is long established as a Forex broker. It additionally offers a range of other markets to trade. Oanda allows EAs and scalping.
IQ Option provides a user friendly platform with range of technical and fundamental analysis tools for the trader who executes their own trades. As well as having a $10 minimum deposit, IQ Option has a low minimum order size of $1 (or 0.001 lots).
Quick comparison
Oanda is an MT4 and MT5 broker suppprting a wide range of traders, while IQ Option provides a user friendly platform with a low minimum order size.
Minimum deposit and account types
The minimum deposit for IQ Option is $10. There is no minimum deposit requirement for Oanda.
- IQ Option has Market Analysis, News, a Forex Calendar, an Earnings Calendar and a Crypto Calendar on its trading platform. The minimum order size is $1 or 0.001 lots.
- Oanda offers the following trading account types: Standard, Core, Swap-free, Premium and Premium Core. The Standard is described as suitable for all traders and has no minimum deposit requirement. The Core is described as suitable for EAs and scalpers. The Swap-free account is for traders who do not want to pay or receive interest on their account. All three of these accounts offer the Signal Center by Acuity. The Premium and Premium Core accounts are for high volume traders and require the trader to maintain a $20,000 minimum balance and trade more than $10 million notional or equivalent per month. These two accounts come with an Account Manager, Zero Deposit Fees (and reimburse bank fees), Free withdrawals, Priority support and a Free VPN.
- The Standard account has spreads from 1.1, the Core account has spreads from 0.2 and the Swap-free account offers spreads from 1.6 pips. The Premium account has spreads from 0.8 and the Premium Core account has spreads from 0.2. The Core and Premium Core accounts charges commissions, the Standard, Premium and Swap-free accounts do not. At Oanda Global, verification documents are not needed for gross account deposits below $9000. Tools include MarketPulse, with a range of analysis and market news, technical analysis powered by AutoChartist, an Economic Calendar and MetaTrader plug-in tools. The minimum trade size is 0.01 lots.
Markets
- IQ Option offers Forex, Indices, Energy, Metals, Soft Commodities, Cryptocurrencies, Stocks, ETFs and Options, with 300+ available.
- Oanda offers Forex, Indices, Energy, Metals, Soft Commodities, Cryptocurrencies and Stocks, with 800+ available.
Cryptocurrency CFDs
- Oanda offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Stellar, EOS, Dogecoin, Binance Coin, Tezos, Uniswap, Cardano, Chainlink and Polkadot.
- IQ Option offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Stellar, EOS, Dash, Ripple, Ethereum Classic, TRON, Zcash, QTUM and OmiseGo CFDs.
Broker | Trading Platforms | Description |
---|---|---|
Oanda Global Broker | MT4, MT5 Trading Platforms | Oanda offers MT4 and MT5 and a wide range of tools to support different type of trading including automated trading Description |
IQ Option Broker | Web Trader & Apps Trading Platforms | IQ Option provides a user friendly platform and range of fundamental and technical analysis tools on the platform Description |
Leverage
Maximum leverage for Oanda (FSC regulated) is 200:1. Maximum leverage for IQ Option Europe Ltd is .
Commissions
- IQ Option does not charge commission for CFD markets.
- Oanda has a commission charge on its Core account of $4 per lot and $3.5 per lot on its Premium Core account.
Online trading platforms
Oanda offers MT4 and MT5. IQ Option provides a user friendly platform.
Foundation
Oanda was founded in 1996, while IQ Option was founded in 2014.
Payment methods
Both brokers support Bank Transfer, Credit/Debit Cards, Skrill and Neteller. IQ Option additionally supports Klarna. Oanda additionally supports SafeCharge.
Why Oanda or IQ Option ?
Traders who want to trade using EA robots can consider Oanda. Traders who want to trade on a user friendly platform with a range of tools can consider IQ Option. Traders who want to trade a range of markets including Stocks CFDs with a low minimum order size can consider IQ Option. Traders who want to trade on MT4 and MT5 and access its capabilities supplemented by a range of plug-ins and other tools can consider Oanda.
Comparison summary
- Both brokers offer CFD trading
- Oanda offers MT4 and MT5
- IQ Option provides a user friendly platform
- IQ Option has a low minimum order size of $1 (or 0.001 lots)
- Oanda allows EA robots