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Alternatives
OANDA alternatives: 4 brokers to consider in 2026
Brokers worth comparing if OANDA is not the right fit, chosen for a specific reason each, using the same checked figures as our reviews.
Quick pick: FOREX.com: also CFTC-registered and an NFA member, with a RAW commission account for US traders; Pepperstone: raw Razor pricing and five platforms, outside the US.
OANDA alternatives compared
| Broker | Why consider it | Min deposit | Platforms |
|---|---|---|---|
| FOREX.com | Also CFTC-registered and an NFA member, with a RAW commission account for US traders | $100 (US) | MT4, MT5, TradingView (US) |
| Pepperstone | Raw Razor pricing and five platforms, outside the US | $0 (minimum top-up $10) | Pepperstone platform, MT4, MT5, cTrader, TradingView |
| IG | FCA-regulated since 1974, with spread betting for UK traders | $0 by bank transfer (IG International); cards from $50 | IG platform, MT4, ProRealTime |
| Interactive Brokers | Pass-through pricing for larger trades, plus stocks and futures in one account | No account minimum | Trader Workstation, IBKR Desktop, API |
Why people look for OANDA alternatives
Pricing is spread-only on standard accounts, so very active traders may find raw-plus-commission accounts elsewhere cheaper. If that matters to you, one of the brokers below may suit you better. If it does not, see our full OANDA review.
The alternatives in detail
FOREX.com
Why consider it: Also CFTC-registered and an NFA member, with a RAW commission account for US traders.
Regulation: CFTC/NFA (GAIN Capital Group LLC, NFA ID 0339826). EUR/USD: RAW from 0.2 pips + $7 per $100k round turn (US).
Watch out: The figures here are for the US business; terms for FOREX.com companies outside the US differ.
FOREX.com review · OANDA vs FOREX.com
Pepperstone
Why consider it: Raw Razor pricing and five platforms, outside the US.
Regulation: ASIC, FCA, CySEC, SCB, DFSA, CMA, BaFin. EUR/USD: Razor from 0.0 pips (avg 0.1) + $3.50 per lot per side.
Watch out: TradingView is offered on the Razor account only.
Pepperstone review · OANDA vs Pepperstone
IG
Why consider it: FCA-regulated since 1974, with spread betting for UK traders.
Regulation: FCA, ASIC, DFSA. EUR/USD: From 0.6 pips, spread-only.
Watch out: MT5 and cTrader are not on its platform list, so EA traders who need MT5 should look elsewhere.
Interactive Brokers
Why consider it: Pass-through pricing for larger trades, plus stocks and futures in one account.
Regulation: FCA, Central Bank of Ireland, ASIC, CIRO and others. EUR/USD: From 0.1 pips + 0.20 bp of trade value ($2 minimum per order).
Watch out: The $2 minimum commission makes small trades relatively expensive, and the platforms have a steeper learning curve. Leveraged retail forex is not offered to US clients.
Interactive Brokers review · Interactive Brokers vs OANDA
FAQ
What is the best alternative to OANDA?
In the US, FOREX.com is the other CFTC/NFA broker we review. Outside the US, look at raw-pricing brokers such as Pepperstone if you trade often, or IG if you want a long FCA track record. Our shortlist: FOREX.com, Pepperstone, IG, Interactive Brokers.
Is there a broker like OANDA for US traders?
Among the brokers we review, FOREX.com is the other one that accepts US retail forex clients.
How do I switch brokers?
Open and verify the new account first, close positions or let them expire at the old broker, withdraw your balance to the same method you deposited with, and keep statements for tax records.
Related
OANDA review · Is OANDA regulated? · Best forex brokers for US traders · Compare all 11 brokers
Forex and CFDs are leveraged products and most retail accounts lose money. Forex Awards may earn commissions from some links; see our affiliate disclosure. General information, not financial advice.