| Online Broker | Minimum Deposit | Trading Platforms | Markets | About |
|---|---|---|---|---|
| IronFX | $50 Minimum Deposit | MT4 Trading Platform | 200+ Markets To Trade | IronFX is an MT4 broker with a wide range of account types including fixed spreads About |
| Oanda | $0 Minimum Deposit | MT4, MT5 Trading Platforms | 800+ Markets To Trade | Oanda offers MT4 and MT5 and a wide range of trading tools About |
Oanda vs IronFX Comparison
This is a comparison of Oanda Global Markets Ltd based and regulated in the British Virgin Islands vs IronFX Bermuda. IronFX is a long established MT4 broker which offers a particularly wide range of account types for this platform, including fixed spread and ECN accounts. Oanda is an even longer established MT4 broker which has a wide range of tools for a wide range of types of trading, from automated to scalping to discretionary and provides MT5 (the successor to MT4).
Quick comparison
Both brokers offer MT4. Oanda additionally provides MT5. IronFX has a $50 minimum deposit while Oanda has no minimum deposit.
Minimum deposit and account features
The minimum deposit for IronFX is $50. There is no minimum deposit requirement for Oanda.
- IronFX offers a range of account types and services. These include a Standard account which has a minimum deposit of $50, a Premium account with a minimum deposit of $2,500 and a VIP account with a minimum deposit of $20,000. These three account types are available with fixed or variable spreads and the spreads can be tighter on higher account types. There is additionally a Cent account, which offers small trade sizes and has a minimum deposit of $50. Social and copy trading is provided via Myfxbook AutoTrade and TradeCopier. The minimum trade size is 0.01 lots except for the Premium and VIP accounts where it is 0.1 lots and the Cent account where it is 0.0001 lots.
- IronFX also offers a Zero Fixed Spread account. This provides zero spreads for some markets, with commissions charged. As well, IronFX offers STP/ECN accounts with or without commissions. It also has an STP/ECN Absolute Zero account, with spreads from zero, with no commission charge. For the Zero Fixed Spread account and the STP/ECN accounts, the minimum deposit is $500. The minimum deposit for the Absolute Zero account is upon request to the account manager.
- All IronFX accounts offer a Dedicated Account Manager, Technical Analysis Reports, Investor Education Tools and Private One-on-One Trading Guidance. The Premium, VIP, STP/ECN No Commission and STP/ECN Zero Spread accounts also offer a Dealing Department Transaction Hotline.
- 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
- IronFX offers Forex, Indices, Energy, Metals, Cryptocurrencies, Soft Commodities and Stocks, with 200+ available.
- Oanda offers Forex, Indices, Energy, Metals, Cryptocurrencies, Soft Commodities and Stocks, with 800+ available.
Cryptocurrency CFDs
- IronFX offers Bitcoin, Ethereum, Litecoin, Cardano, EOS, Bitcoin Cash, Dogecoin, Polkadot, Stellar, Uniswap, Ripple, Iota, Ethereum Classic, Solana, Tron, OmiseGO, Internet Computer Protocol and IOST CFDs.
- Oanda offers Bitcoin, Ethereum, Litecoin, Cardano, EOS, Bitcoin Cash, Dogecoin, Polkadot, Stellar, Uniswap, Binance Coin, Tezos and Chainlink CFDs.
| Broker | Trading Platforms | Description |
|---|---|---|
| Oanda Global Broker | MT4, MT5 Trading Platforms | Oanda offers MT4 and MT5 trading with a wide range of tools for different kind of trading Description |
| IronFX Broker | MT4 Trading Platforms | IronFX is an MT4 broker with 200+ markets to trade and a wide range of account types, including fixed spreads Description |
Leverage
Maximum leverage for Oanda (FSC regulated) is 200:1. Maximum leverage for IronFX (Bermuda) is 1000:1.
Commissions
- IronFX has a commission charge from $6.75 per lot per side.
- Oanda has a commission charge on its Core account of $4 per lot amd $3.5 per lot on its Premium Core account.
Online trading platforms
Oanda offers MT4 and MT5. IronFX provides MT4.
Payment methods
Both brokers support Bank Transfer, Credit/Debit Cards, Skrill and Neteller. IronFX additionally supports WebMoney and Trustly.
Why Oanda or IronFX ?
Traders who want to trade with an MT4 broker can try either. Traders who want to trade on MT5 can do so at Oanda. Traders who want a range of account types covering fixed or variable spreads can try IronFX. Traders who want a wide range of tools can try Oanda.
Comparison summary
- Each offers CFD trading
- Both provide MT4
- Oanda additionally offers MT5
- IronFX has fixed spreads as well as variable spreads
- Oanda provides a wide range of tools
- IronFX has a $50 minimum deposit
- Oanda has no minimum deposit
