IC Markets vs Oanda: Which Broker is Better for Vietnam Traders in 2026?
Which broker is better for Vietnam traders in 2026? Expert analysis across 12 categories.
Quick Verdict — Vietnam Traders
Vietnam's forex market is growing rapidly, with young tech-savvy traders seeking brokers that offer low costs, fast execution, and local payment support. IC Markets and Oanda are two globally recognized brokers, but they cater to different trader profiles. IC Markets excels with ultra-tight spreads, advanced platforms like MetaTrader 4/5 and cTrader, and support for Vietnamese payment methods such as Bank Transfer, Momo, and USDT. Oanda, while reputable and regulated in multiple jurisdictions, offers higher spreads and fewer local payment options, making it less attractive for active Vietnam traders. This comparison will help you decide which broker aligns with your trading style and local needs, considering factors like spreads, regulation (SSC Vietnam), and deposit methods.
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 Vietnam traders, trading costs are a critical factor. IC Markets offers spreads from 0.0 pips on its Raw Spread account with a $7 round-turn commission per lot, making it ideal for scalpers and high-volume traders. Oanda's spreads are variable and typically higher, averaging 1.0-1.5 pips on EUR/USD without commission. Over 100 trades per month, the difference can amount to hundreds of dollars in savings with IC Markets. Vietnam traders should also consider swap rates, which are competitive at both brokers but favor IC Markets for long-term positions.
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 - Vietnam Traders
| Entity / Asset | IC Markets | Oanda |
|---|---|---|
| Vietnam (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 | ✓ | ✓ |
Young Vietnam traders prefer modern, intuitive platforms. IC Markets offers MetaTrader 4, MetaTrader 5, and cTrader, all with advanced charting, algorithmic trading, and mobile apps. Oanda provides its proprietary web and mobile platforms, plus MetaTrader 4, but lacks cTrader. For Vietnam traders who value automation and customization, IC Markets' platform suite is superior. Oanda's platform is simpler and better for beginners but less flexible for advanced strategies.
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 offers ultra-fast execution with no requotes and low latency, ideal for scalping and high-frequency trading. Oanda provides reliable execution but with slightly higher latency and occasional slippage during volatile markets. For Vietnam traders who value speed, IC Markets is the clear winner.
Regulation & Safety for Vietnam Traders
| Safety Factor | IC Markets | Oanda |
|---|---|---|
| Primary regulator | ASIC | FCA |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
Both brokers are regulated internationally but not directly by the State Securities Commission of Vietnam (SSC). IC Markets is regulated by ASIC (Australia), CySEC (Cyprus), and FSA (Seychelles), offering strong client protection. Oanda is regulated by multiple bodies including the FCA (UK), CFTC (US), and ASIC. For Vietnam traders, this means funds are held in segregated accounts, but local investor protection is limited. IC Markets' regulation under ASIC is particularly robust, while Oanda's FCA regulation adds an extra layer of security. Traders should verify the legal status of forex trading in Vietnam and consult local authorities.
Deposits & Withdrawals for Vietnam
| 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 |
Depositing and withdrawing funds is a key consideration for Vietnam traders. IC Markets supports Bank Transfer, Momo, and USDT, allowing instant deposits with no fees. Bank transfers take 1-3 business days, while Momo and USDT are processed within minutes. Withdrawals are also fast, with USDT and Momo offering same-day processing. Oanda primarily accepts international bank transfers and credit/debit cards, which can take 3-5 business days and incur bank charges. Momo and USDT are not available at Oanda, making it less convenient for Vietnam traders who prefer digital payments. For active traders, IC Markets' local payment support is a major advantage.
Islamic Accounts - Swap-Free for Vietnam 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 |
For Muslim traders in Vietnam, both IC Markets and Oanda offer Islamic (swap-free) accounts. IC Markets provides swap-free accounts on all account types upon request, with no additional fees. Oanda offers Islamic accounts but only on its standard account, and may charge an administration fee after a holding period. Vietnam traders should confirm eligibility with each broker, as conditions vary. IC Markets' policy is more flexible and cost-effective for long-term Islamic trading.
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 |
Customer support is available 24/5 from both brokers via live chat, email, and phone. IC Markets offers Vietnamese language support through its website and live chat, which is a significant advantage for local traders. Oanda's support is primarily in English, with limited Vietnamese resources. For Vietnam traders, IC Markets provides more accessible assistance.
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? - Vietnam Guide
Choose IC Markets if you...
- Want the lowest spreads and commissions for active trading
- Prefer advanced platforms like MetaTrader 4/5 or cTrader
- Need local payment methods like Momo and USDT
- Are a scalper or algorithmic trader requiring fast execution
Choose Oanda if you...
- Are a beginner looking for a simple, user-friendly platform
- Value guaranteed stop losses and strong FCA regulation
- Trade small volumes and don't mind higher spreads
- Prefer a broker with a long-standing reputation in the US/UK
FAQ - IC Markets vs Oanda in Vietnam
Final Verdict - Vietnam 2026
For the majority of Vietnam traders, IC Markets is the superior choice. Its low spreads, fast execution, and support for local payment methods like Bank Transfer, Momo, and USDT directly address the needs of young, tech-savvy traders. Oanda is a reliable alternative for beginners or those who prioritize regulatory safety and simplicity, but its higher costs and lack of Vietnam-specific features make it less competitive. Considering SSC Vietnam's stance on forex, traders should always use regulated international brokers and manage risk carefully. Ultimately, IC Markets offers better value for active Vietnam traders in 2025.