IC Markets vs Oanda for Hungary Traders (2026)

For Hungary traders, trading costs are a critical factor, especially for those trading in USD. IC Markets offers raw spreads from 0.0 pips on EUR/USD with a $3.50 commission per lot per side, making it ideal for scalpers and high-volume traders. Oanda's spreads on EUR/USD start from 0.5 pips with no commission, but the total cost per lot is higher. For example, a Hungary trader executing 10 lots per week would save approximately $40-50 per week with IC Markets. Additionally, IC Markets has lower swap rates for overnight positions, which is beneficial for traders holding positions over multiple days. Oanda's cost structure is simpler but more expensive for active traders.

IC Markets offers MetaTrader 4, MetaTrader 5, cTrader, and a web trader, all of which are popular among Hungary traders for their advanced charting tools, automated trading, and custom indicators. Oanda provides its proprietary platform, MetaTrader 4, and TradingView integration, which is user-friendly but less feature-rich. For Hungary traders who rely on algorithmic trading or scalping, IC Markets' cTrader platform is a standout with its depth of market and fast execution. Oanda's platform is better suited for casual traders who prioritize simplicity and ease of use.

IC Markets boasts ultra-fast execution speeds with an average of 40ms, using Equinix NY4 and LD4 servers. This is ideal for Hungary traders who use scalping or automated strategies. Oanda's execution is reliable but slower, averaging 80ms, which may cause slippage during high-impact news. For traders in Hungary who prioritize speed, IC Markets is the clear winner.

IC Markets is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and the Financial Services Authority (FSA) of Seychelles. Oanda is regulated by the US Commodity Futures Trading Commission (CFTC), the UK Financial Conduct Authority (FCA), and others. Neither broker is directly regulated by the local financial regulator in Hungary (MNB), but both operate legally in the country. For Hungary traders, IC Markets' CySEC regulation offers some protection under EU investor compensation schemes, while Oanda's FCA regulation provides strong oversight. Always verify the specific entity you are trading with to ensure compliance with local laws.

Both IC Markets and Oanda support multiple payment methods for Hungary traders, including Bank Transfer, Skrill, Neteller, and USDT TRC20. IC Markets also accepts credit/debit cards and PayPal, while Oanda adds PayPal and credit cards. Deposits via e-wallets and USDT TRC20 are usually instant, while bank transfers take 1-3 business days. Withdrawals are processed within 24 hours for e-wallets and USDT TRC20, and 2-5 business days for bank transfers. IC Markets does not charge deposit or withdrawal fees, but Oanda may impose a fee for bank transfers. For Hungary traders, USDT TRC20 is a fast and low-cost option, especially for those dealing with crypto. Always check for any currency conversion fees when funding in USD.

For Hungary traders seeking Islamic (swap-free) accounts, both IC Markets and Oanda offer this option. IC Markets provides Islamic accounts on all account types, including Standard and Raw Spread, with no swap charges on overnight positions. Oanda offers Islamic accounts on request, but they may have limited availability and require proof of Muslim faith. Both brokers do not charge additional fees for these accounts. For Hungary traders who follow Sharia law, IC Markets is more straightforward, as Islamic accounts are automatically available and can be opened easily.

IC Markets offers 24/7 customer support via live chat, email, and phone, with support in English and other languages. Oanda provides support via live chat, email, and phone during business hours, with limited weekend availability. For Hungary traders, IC Markets' round-the-clock support is advantageous, especially for those trading during volatile sessions. Both brokers have responsive support, but IC Markets' availability is more comprehensive.