Broker comparison
IG vs OANDA
Two long-established brokers with FCA-authorised UK companies and spread-only pricing from 0.6 pips. OANDA also accepts US clients.
Terms checked on 3 Nov 2026 against each broker's own website and legal documents
Minimum deposit
No minimum by bank transfer at IG International; $50 by card
None in the US, UK and Australia
Raw pricing
Forex Direct (DMA) with variable commission; check IG's charges page
Core pricing (US): $0.70 per 10,000 units per side; UK figure not confirmed
Spread-only pricing
Spread bets and CFDs from 0.6 pips, no commission
UK spread-only from 0.6 pips
Platforms
IG platform and app, MT4, ProRealTime, L2 Dealer (UK)
OANDA web and mobile, TradingView, MT4, MT5
Regulation
FCA (IG Markets Ltd FRN 195355, IG Index Ltd FRN 114059), ASIC (AFSL 515106), DFSA (F001780)
FCA (542574), CFTC/NFA (NFA 0325821), ASIC (AFSL 412981)
Maximum retail leverage
30:1 UK and Australia; 1:200 at IG International
30:1 UK, EU and Australia; 50:1 US
FCA-authorised UK company
Yes (IG Markets Ltd, IG Index Ltd)
Yes (542574)
Which to choose
IG offers spread betting in the UK, ProRealTime and a broad market range. OANDA offers TradingView, MT4 and MT5, and is the only broker we review that accepts US forex clients.
Both publish UK spreads from 0.6 pips on EUR/USD. Compare live quotes and conversion fees for your account currency.
Read the full IG review and OANDA review.
How we chose. These shortlists use published terms only: costs, minimum deposit, platforms and the regulator of the entity you would join. We have not ranked brokers on scores, and the order is not a recommendation for your circumstances. Read our methodology and affiliate disclosure.
CFDs and leveraged forex are complex and carry a high risk of losing money rapidly. Most retail accounts lose money. Only trade with money you can afford to lose.
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Written by the Forex Awards research desk
Guides are checked against current broker documents and regulator rules. Spotted something out of date? Tell us and we will re-check it.
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