IC Markets vs Oanda 2026: Italy Broker Comparison for Retail Traders
Which broker is better for Italy traders in 2026? Expert analysis across 12 categories.
Quick Verdict — Italy Traders
Italy traders seeking a reliable forex broker face a choice between IC Markets (rated 4.8/5) and Oanda (rated 3.6/5). Both are well-established globally, but they cater to different needs within the Italian retail trading community. IC Markets is known for its ultra-low spreads, deep liquidity, and advanced trading platforms like MetaTrader 4/5 and cTrader, making it ideal for active traders. Oanda, on the other hand, offers a user-friendly interface and robust educational resources, but its higher spreads and limited local payment options like PostePay put it at a disadvantage for cost-conscious Italian traders. With CONSOB oversight and support for SEPA transfers, both brokers are accessible, but IC Markets provides better value for most retail traders in Italy.
Overall Scores Comparison
Trading Costs - Spreads & Commissions
| 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 |
For Italy traders, trading costs are a critical factor. IC Markets offers spreads from 0.0 pips on its Raw Spread account with a $3.5 commission per lot, while Oanda's spreads start at 1.2 pips with no commission. For a typical Italian retail trader executing 10 lots per month on EUR/USD, IC Markets costs roughly $35 in commission versus Oanda's $120 in spread costs. This difference becomes significant for scalpers and day traders. Additionally, IC Markets does not charge deposit fees for SEPA transfers, whereas Oanda may have minor conversion fees for EUR deposits.
Account Types Comparison
| 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 |
Leverage Comparison - Italy Traders
| Entity / Asset | IC Markets | Oanda |
|---|---|---|
| Italy (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 |
Trading Instruments - Assets Available
| Asset Class | IC Markets | Oanda | Winner |
|---|---|---|---|
| Forex pairs | 90+ | 65+ | IC Markets |
| Gold (XAU/USD) | ✓ | ✓ | Tie |
| Oil (WTI/Brent) | ✓ | ✓ | Tie |
| Stock indices | 25+ indices | 20+ indices | IC Markets |
| Crypto CFDs | 30+ | ✗ | IC Markets |
| Stocks / Share CFDs | ✗ | ✗ | Oanda |
| ETFs | ✗ | ✗ | Tie |
Platforms Comparison
| Platform | IC Markets | Oanda |
|---|---|---|
| MetaTrader 4 (MT4) | ✓ | ✓ |
| MetaTrader 5 (MT5) | ✓ | ✗ |
| cTrader | ✓ | ✗ |
| TradingView | ✗ | ✓ |
| Expert Advisors (EAs) | ✓ | ✗ |
| Scalping allowed | ✓ | ✓ |
| Hedging allowed | ✓ | ✓ |
IC Markets provides MetaTrader 4, MetaTrader 5, and cTrader, all of which support advanced charting, automated trading via Expert Advisors (EAs), and custom indicators. Oanda offers its proprietary platform and MetaTrader 4, but lacks MetaTrader 5 and cTrader. For Italy traders who rely on EAs or algorithmic trading, IC Markets is the superior choice. Oanda's platform is simpler and great for beginners, but advanced traders will find IC Markets' tools more powerful.
Execution Quality - Speed & Slippage
| Factor | IC Markets | Oanda | Winner |
|---|---|---|---|
| Execution model | ECN/STP | True ECN | Oanda |
| Avg execution speed | ~30ms | ~40ms | IC Markets |
| Slippage | Very low | Very low | Tie |
| Requotes | Very rare | Very rare | Tie |
| Scalping allowed | ✓ | ✓ | Tie |
| EA / Bot trading | ✓ | ✗ | Tie |
IC Markets boasts ultra-fast execution with an average speed of 40ms and no requotes, thanks to its Equinix NY4 data center. Oanda's execution is reliable but slower, averaging 100ms. For Italy traders who scalp or trade news events, IC Markets' speed reduces slippage and improves trade outcomes.
Regulation & Safety for Italy Traders
| Safety Factor | IC Markets | Oanda |
|---|---|---|
| Primary regulator | ASIC | FCA |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
Both brokers comply with CONSOB regulations for Italian clients through their European entities. IC Markets is regulated by CySEC (license number 362/18) and operates under MiFID II, ensuring client fund segregation and negative balance protection. Oanda is regulated by the FCA (UK) and CySEC, offering similar protections. However, IC Markets has a stronger overall regulatory track record with multiple top-tier licenses. Italy traders should verify the specific entity accepting Italian clients to ensure full CONSOB compliance.
Deposits & Withdrawals for Italy
| Payment Method | IC Markets | Oanda |
|---|---|---|
| Bank Wire Transfer | ✓ | ✓ |
| Visa / Mastercard | ✓ | ✓ |
| Skrill | ✓ | ✗ |
| Neteller | ✓ | ✗ |
| USDT / Crypto | ✓ | ✗ |
| Withdrawal time | E-wallets instant-24hrs; Cards 3-5 business days (up to 10); Int'l bank wire up to 14 days | 1 to 5 business days |
Italy traders can fund their accounts using SEPA bank transfers, credit/debit cards, and e-wallets like PayPal and Skrill. IC Markets also supports PostePay, a popular Italian prepaid card, making deposits convenient. Oanda accepts SEPA and credit cards but not PostePay. Minimum deposits are $200 for IC Markets and $0 for Oanda, though Oanda requires at least $1 to start. Withdrawals are free via SEPA for both brokers, but IC Markets processes them faster (1-2 business days) compared to Oanda (2-5 business days). Bank transfers are reliable but may take longer.
Islamic Accounts - Swap-Free for Italy Muslims
| Islamic Account Feature | IC Markets | Oanda |
|---|---|---|
| Swap-free available | ✓ | ✗ |
| Admin fee instead of swap | On some instruments | On some instruments |
| MT4 / MT5 supported | ✓ | ✓ |
| How to apply | Contact support | Contact support |
Both IC Markets and Oanda offer Islamic (swap-free) accounts for Italy Muslim traders who require compliance with Sharia law. IC Markets provides swap-free accounts on all account types with no additional fees, while Oanda offers them but may have restrictions on certain instruments. Italy traders should confirm with customer support that the account is truly swap-free and check for any hidden charges. Overall, IC Markets has a more transparent policy.
Customer Support Comparison
| Support Feature | IC Markets | Oanda | Winner |
|---|---|---|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✓ | ✓ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✗ | Tie |
| Response time (chat) | <2 minutes | <3 minutes | IC Markets |
IC Markets offers 24/7 multilingual support via live chat, email, and phone, with Italian language support available. Oanda provides 24/5 support with similar channels but limited Italian assistance. For Italy traders needing timely help, IC Markets' round-the-clock availability and Italian-speaking agents give it an edge.
Mobile App Comparison
| Mobile Feature | IC Markets | Oanda | Winner |
|---|---|---|---|
| iOS App Store rating | 4.5 stars | 4.3 stars | IC Markets |
| Google Play rating | 4.3 stars | 4.2 stars | IC Markets |
| Biometric login | ✓ | ✓ | Tie |
| Push notifications | ✓ | ✓ | Tie |
| Full charting on mobile | ✓ | ✓ | Tie |
| TradingView mobile | ✗ | ✓ | Oanda |
Education & Research Tools
| Resource | IC Markets | Oanda | Winner |
|---|---|---|---|
| Video tutorials | 100+ videos | 50+ videos | Tie |
| Webinars (live) | ✗ | Monthly | Tie |
| Economic calendar | ✓ | ✓ | Tie |
| Market analysis | Daily | Basic | IC Markets |
Real User Reviews - Trustpilot
Pros & Cons of Each Broker
IC Markets
Oanda
Who Should Use Which Broker? - Italy Guide
Choose IC Markets if you...
- Are an active or high-volume trader seeking low spreads and fast execution.
- Use automated trading strategies or Expert Advisors (EAs) on MetaTrader or cTrader.
- Prefer local payment methods like PostePay and SEPA for deposits.
- Need 24/7 customer support in Italian.
Choose Oanda if you...
- Are a beginner looking for a user-friendly platform and educational resources.
- Want to start trading with a very low minimum deposit (€0).
- Prioritize a well-known brand with strong regulatory history.
- Don't require advanced tools or ultra-low spreads.
FAQ - IC Markets vs Oanda in Italy
Final Verdict - Italy 2026
For Italy retail traders, IC Markets is the clear winner with a 4.8/5 rating versus Oanda's 3.6/5. Its lower spreads, faster execution, support for local payments like SEPA and PostePay, and compliance with CONSOB regulations make it the best choice for cost-conscious and active traders. Oanda remains a solid option for beginners due to its low barrier to entry and educational resources, but its higher costs and limited Italy-specific features hold it back. Ultimately, IC Markets offers better value for most Italian traders.