Which broker is better for Bhutan traders in 2026? Expert analysis across 12 categories.
For Bhutanese retail traders looking to enter the forex market, choosing between IC Markets and Oanda is a critical decision. While both brokers are internationally recognized, they cater to slightly different needs, especially in a country like Bhutan where payment flexibility and cost efficiency are paramount. IC Markets scores an impressive 4.8/5 in our review, thanks to its ultra-low spreads, extensive deposit methods including USDT TRC20 and Skrill, and high-speed execution. Oanda, with a 3.6/5 rating, offers robust charting tools and regulatory stability but lags in local payment support and spread competitiveness. Bhutan traders, who often use Bank Transfers or digital wallets like Neteller and cryptocurrencies, will find IC Markets more accommodating. Both brokers accept Bhutanese residents, but the differences in trading costs, platform features, and deposit convenience can significantly impact profitability. This comparison will help you decide which broker suits your trading style in the unique context of Bhutan.
| Instrument | IC Markets | Oanda | Winner |
|---|---|---|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | Oanda |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | Oanda |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | Oanda |
| Standard acc spread | from 1.0 pips | from 0.8 pips | Oanda |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $200 | $0 | Oanda |
IC Markets offers spreads from 0.0 pips on its Raw Spread account (plus a $7 round-turn commission), while Oanda’s spreads typically start at 1.0 pips on EUR/USD with no commission. For Bhutan traders who trade moderate volumes, IC Markets can save significantly on costs—especially if you trade frequently. For example, a $10,000 monthly volume on IC Markets would cost around $7 in commission versus $50+ in spread costs on Oanda. Oanda’s spreads also widen during news events, which can hurt Bhutanese traders who rely on economic releases. Overall, IC Markets provides lower total trading costs for retail traders in Bhutan, particularly those using the Raw Spread account.
| Account Type | IC Markets | Oanda |
|---|---|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✓ | ✗ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✓ | ✗ |
| Zero spread account | ✓ | ✗ |
| Copy trading | ✗ | ✗ |
| Min deposit | $200 | $0 |
| Entity / Asset | IC Markets | Oanda |
|---|---|---|
| Bhutan (offshore) | Up to 1:5000 | Up to 1:100 |
| Forex major pairs | 1:5000 | 1:100 |
| Gold (XAU/USD) | 1:200 | 1:200 |
| Indices | 1:100 | 1:100 |
| Cryptocurrencies | 1:2 to 1:10 | 1:2 to 1:10 |
| Asset Class | IC Markets | Oanda | Winner |
|---|---|---|---|
| Forex pairs | 90+ | 65+ |