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Compare Forex Brokers IBFX And Oanda


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Subjective Ratings

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IBFX

Oanda

Charting: Four and Half star Charting Rating Two star Charting Rating
Execution: Four star Execution Rating Four star Execution Rating
Transaction costs (spreads): Four star Transaction Costs (spreads) Rating Four star Transaction Costs (spreads) Rating
User-friendliness: Four and Half star User-friendliness Rating Three and Half star User-friendliness Rating
Platform Functionality: Four star Platform Functionality Rating Four star Platform Functionality Rating
Platform Reliability: Four star Platform Reliability Rating Three star Platform Reliability Rating
Customer support: Four and Half star Customer Support Rating Three star Customer Support Rating
Rollover interest rates: Three and Half star Rollover interest rates Rating Five star Rollover interest rates Rating
Withdrawal processing: Four star Withdrawal processing Rating Four and Half star Withdrawal processing Rating
Average rating: Four and Half star Average Rating Three and Half star Average Rating

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Business Details

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IBFX

Oanda

 
Registered Business Name: Interbank FX, LLC Oanda Corporation
Broker Headquarters: Utah, USA Toronto, Canada
Also has offices in: London, UK Virtual offices in New York and Hong Kong
Regulated By: NFA Member (0326091)
FCM registered with CFTC
NFA (0325821)
FCM registered with CFTC
In business since year: 2001 2002
Broker Capital as of 05-2009 $36,507,727 $170,799,434
Client Account Segregation: No No
Collect Taxes on Earnings: 1099 form sent to US-based clients (and IRS) No
Prohibit clients from: Yes Yes
Deposit/Withdrawal methods:
MethodDeposit FeeWithdrawal Fee
Check $0 $0 - US clients only
Discover $20 Not available
MasterCard $20 Not available
Visa $20 Not available
Wire Transfer $0 $25
MethodDeposit FeeWithdrawal Fee
Check (US clients) $0 $0
PayPal $0 $0
Wire Transfer $0 $0
Main liquidity providers: Bank of America, JP Morgan, Citigroup, Goldman Sachs P Morgan Chase, Citibank, UBS, Deutsche Bank and Royal Bank of Canada

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Trading Details

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IBFX

Oanda

 
Browser platform: None FXTrade (proprietary) - MAC compatible
Downloadable platform: IBFX Meta Trader 4 (MT4) No
Mobile platform: None FXTrade (proprietary) - MAC compatible
Phone dealing: Yes No
Order processing: Straight-through to multiple liquidity providers Market Maker
Account Types
Account Maximum leverage Minimum/Maximum deposit: Minimum/Maximum trade size:
50:1* No limits $1,000/$5,000,000
Mini Account 50:1* No minimum/$50,000 max $100/$500,000
Account Maximum leverage Minimum/Maximum deposit: Minimum/Maximum trade size:
Standard Account 50:1* No mininum or maximum requirem 1/10,000,000
Swap-free accounts   Yes, but some extra fees apply   No swap-free accounts available
Tradeable Instruments: 31    39   
No Dealing Desk Execution: Yes Yes
Typical spread on EUR/USD: 2 pips (0.0002) 0.9 pips (0.00009)
Fixed spreads: No No
Guaranteed stop losses? Orders are executed at best available price. No
Trailing Stops: Client-side Server-side
OCO orders available: No Yes
If/then orders available: No Yes
Hedging capability: Yes No
Automated Trading: Yes No
Trading Hours: IBFX is open for trading from 6 PM EST on Sunday until 4 PM EST on Friday.  
Timezone GMT User-defined
Scalping allowed: Yes Yes
Account currencies available: USD USD
Platform languages: Arabic, Bulgarian, Chinese, Dutch, English, Estonian, Farsi, French, German, Greek, Hebrew, Hungarian, Italian, Japanese, Korean, Lithuanian, Polish, Portuguese, Russian, Serbian, Simplified Chinese, Slovak, Spanish, Traditional Chinese, Turkish Chinese, English, German, Japanese, Spanish
Support languages: Chinese, English, Japanese, Portuguese, Spanish English
Demo account: Unlimited Unlimited
Live chat support: Sunday 21:00 GMT to Friday 21:00 GMT Yes
Interest on Margin: No Yes
Promotions & tournaments: Credit/Debit cards available to US citizens (does not draw on margin account). Many free trading tools available to clients. None

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