IC Markets vs Oanda for Brazil Traders (2026)

For Brazil traders, trading costs directly affect profitability. IC Markets offers two account types: Raw Spread (spreads from 0.0 pips with a commission of $3.50 per lot per side) and Standard (spreads from 0.6 pips, no commission). Oanda uses variable spreads, typically starting at 1.0-1.5 pips on EUR/USD, with no separate commission. Scalpers and high-volume traders in Brazil will save heavily with IC Markets: on 100 lots per month, the difference in cost can exceed $500 in favor of IC Markets. Oanda is more suitable for low-frequency traders willing to pay slightly higher spreads for simplicity. Both brokers charge swaps on overnight positions, but IC Markets offers more competitive swap rates.

IC Markets provides Brazil traders with MetaTrader 4, MetaTrader 5, cTrader, and a web terminal – ideal for automated trading and advanced charting. Oanda offers its own web-based platform plus MetaTrader 4, but lacks cTrader and MT5. For traders using Expert Advisors (EAs) or custom indicators, IC Markets is more flexible. Oanda’s proprietary platform is beginner-friendly with clean design and built-in analysis tools. Both have mobile apps for iOS and Android. Brazilian traders who rely on algorithmic trading or require multiple platform choices should prefer IC Markets.

IC Markets is renowned for fast execution with minimal slippage, using Equinix NY4 data centers and No Dealing Desk (NDD) technology. Average execution speed is under 40ms. Oanda uses a hybrid model (market maker with some STP), which can lead to occasional requotes during high volatility. For Brazil traders trading news events or scalping, IC Markets’ execution quality is superior. Oanda is reliable for medium-term positions.

IC Markets is regulated by top-tier authorities like the FCA (UK), CySEC (Cyprus), and ASIC (Australia), but does not hold a CVM license in Brazil. This is common among international brokers serving Brazil – they operate under their home regulators. Oanda is directly regulated by the CVM, offering additional local oversight and potential dispute resolution through Brazilian authorities. For Brazil traders, Oanda’s CVM status may provide extra peace of mind, though IC Markets’ global regulatory track record is strong. Both brokers offer negative balance protection and client fund segregation.

Depositing and withdrawing in BRL is seamless with both brokers. IC Markets supports PIX (zero fees, instant), Bank Transfer (BRL accepted, 1-3 business days), and Credit Card (Visa/Mastercard, instant). Minimum deposit is $200 USD (approximately R$1,100). Oanda also accepts PIX and Credit Card, but Bank Transfer may incur higher intermediary fees and longer processing times (3-5 days). Withdrawals at IC Markets are processed within 24 hours via the same methods, with no broker fees. Oanda processes withdrawals in 1-3 business days and may charge a fee for some bank transfers. For Brazil traders using PIX, IC Markets offers the fastest turnaround.

Both IC Markets and Oanda offer Islamic accounts (swap-free) for Muslim traders in Brazil. IC Markets provides swap-free accounts on request, applicable to all account types with no extra cost. Oanda also offers swap-free accounts, but the availability may be limited to certain trading instruments and requires a formal request. Brazil traders must verify compliance with Sharia principles; both brokers clearly state that no swap or interest is charged or earned on overnight positions. IC Markets’ broader instrument coverage makes it more flexible for Islamic traders.

IC Markets offers 24/7 live chat, email, and phone support in English and limited Portuguese. Oanda provides 24/5 phone and email support, plus a comprehensive FAQ. Neither broker has a dedicated Portuguese-speaking team, but Oanda’s local CVM presence may facilitate better service if issues arise through regulatory channels. For quick technical issues, IC Markets’ 24/7 availability is an advantage for Brazil traders in different time zones.