Oanda Vs Ig: Which Trading Platform Is Better In 2023?

Binary options Sri Lanka Ig or oanda for forex
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Introduction

If you’re a trader, you’ve probably heard of Oanda and IG. These two trading platforms are among the most popular in the industry, and for good reason. They both offer a wide range of trading instruments, competitive pricing, and advanced trading tools. But which one is better? In this article, we’ll compare Oanda and IG in detail to help you make an informed decision.

What is Oanda?

Oanda is a popular forex and CFD trading platform that was founded in 1996. It’s known for its user-friendly interface, advanced charting tools, and low spreads. Oanda offers a wide range of trading instruments, including forex, commodities, indices, and bonds. It also has a mobile app that allows you to trade on the go.

What is IG?

IG is a well-known trading platform that was founded in 1974. It offers a wide range of trading instruments, including forex, commodities, indices, shares, and cryptocurrencies. IG is known for its advanced trading tools, including ProRealTime charts, which are highly customizable and offer advanced technical analysis tools. It also has a mobile app that allows you to trade on the go.

Features Comparison

Now let’s compare the features of Oanda and IG in detail.

Trading Instruments

Both Oanda and IG offer a wide range of trading instruments, including forex, commodities, indices, and more. However, IG also offers shares and cryptocurrencies, which Oanda doesn’t.

Pricing

Oanda and IG both offer competitive pricing, but Oanda has slightly lower spreads. Oanda also doesn’t charge any commission, while IG charges a small commission on share CFDs.

Trading Tools

Both Oanda and IG offer advanced trading tools, including customizable charts, technical analysis tools, and risk management tools. However, IG’s ProRealTime charts are more advanced and offer more features than Oanda’s charts.

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Mobile App

Both Oanda and IG have mobile apps that allow you to trade on the go. However, IG’s mobile app is more user-friendly and offers more features than Oanda’s app.

Pros and Cons

Now let’s look at the pros and cons of Oanda and IG.

Oanda Pros

– Low spreads – No commission – User-friendly interface – Advanced charting tools

Oanda Cons

– Limited trading instruments – Basic mobile app

IG Pros

– Wide range of trading instruments – Advanced trading tools – User-friendly mobile app – ProRealTime charts

IG Cons

– Higher spreads – Small commission on share CFDs

Conclusion

Both Oanda and IG are excellent trading platforms that offer a wide range of trading instruments, competitive pricing, and advanced trading tools. However, IG has a slight edge in terms of features, including its ProRealTime charts and user-friendly mobile app. On the other hand, Oanda has lower spreads and no commission. Ultimately, the choice between Oanda and IG comes down to personal preference and trading needs.

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