IC Markets vs Oanda 2026: Kuwait Broker Comparison
Which broker is better for Kuwait traders in 2026? Expert analysis across 12 categories.
Quick Verdict — Kuwait Traders
For Kuwait retail traders looking to trade forex, choosing between IC Markets and Oanda is a key decision. IC Markets, with a stellar 4.8/5 rating, offers ultra-low spreads from 0.0 pips and supports local payment methods like Bank Transfer, Skrill, Neteller, and USDT TRC20. Oanda, rated 3.6/5, is a well-known broker but has higher trading costs and fewer deposit options for Kuwait. Both brokers are accessible from Kuwait, but IC Markets aligns better with the needs of local traders seeking cost-effective trading and flexible funding. This comparison covers spreads, platforms, regulation, and specific deposit methods relevant to Kuwait.
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 |
IC Markets offers significantly lower trading costs for Kuwait traders, with spreads starting from 0.0 pips on its Raw Spread account and a commission of $7 per lot. For a Kuwait trader executing 10 lots per month on EUR/USD, IC Markets costs around $70 in commissions plus minimal spreads. Oanda’s spreads average 1.2 pips with no commission, resulting in costs of about $120 per 10 lots. Over a year, IC Markets saves Kuwait traders approximately $600, making it the more cost-effective choice for active retail traders.
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 - Kuwait Traders
| Entity / Asset | IC Markets | Oanda |
|---|---|---|
| Kuwait (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 popular among Kuwait traders for their advanced charting and automated trading capabilities. Oanda offers its proprietary platform and fxTrade, which are user-friendly but less customizable. For Kuwait traders who value algorithmic trading and advanced tools, IC Markets’ platform suite is superior. Both platforms are available in English and Arabic, catering to the local audience.
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 provides low-latency execution with servers in the Equinix NY4 data center, ensuring fast order fills for Kuwait traders. Oanda’s execution is reliable but slower due to its dealing desk model. For scalpers and high-frequency traders in Kuwait, IC Markets’ execution speed is a clear advantage.
Regulation & Safety for Kuwait Traders
| Safety Factor | IC Markets | Oanda |
|---|---|---|
| Primary regulator | ASIC | FCA |
| Top-tier regulated | ✓ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
IC Markets is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC), offering client fund segregation and negative balance protection. Oanda is regulated by the US Commodity Futures Trading Commission (CFTC) and the UK Financial Conduct Authority (FCA). Neither broker is regulated by the local financial regulator in Kuwait, but both adhere to strict international standards. Kuwait traders should prioritize brokers with strong regulatory oversight for fund safety.
Deposits & Withdrawals for Kuwait
| 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 |
IC Markets supports multiple deposit methods popular in Kuwait, including Bank Transfer, Skrill, Neteller, and USDT TRC20. Deposits via Skrill and Neteller are processed instantly, while USDT TRC20 offers a low-cost cryptocurrency option. Withdrawals are processed within 1-2 business days for e-wallets and crypto. Oanda only accepts Bank Transfer and credit/debit cards, which may take 3-5 business days for withdrawals. For Kuwait traders, IC Markets’ diverse payment options provide greater flexibility and speed.
Islamic Accounts - Swap-Free for Kuwait 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 Kuwait Muslim traders. IC Markets provides swap-free accounts on all account types, including Raw Spread and Standard, with no additional charges. Oanda offers Islamic accounts upon request, but they may have limited availability and higher spreads. For Kuwait traders seeking Sharia-compliant trading, IC Markets is the more straightforward option.
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 customer support via live chat, email, and phone, with Arabic language support available. Oanda provides 24/5 support with limited Arabic assistance. For Kuwait traders, IC Markets’ round-the-clock support is more accessible, especially during local trading hours.
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? - Kuwait Guide
Choose IC Markets if you...
- Want ultra-low spreads from 0.0 pips to reduce trading costs.
- Prefer local payment methods like Bank Transfer, Skrill, Neteller, or USDT TRC20.
- Need advanced platforms like MT4, MT5, or cTrader for automated trading.
- Are a retail trader in Kuwait looking for a highly rated broker (4.8/5).
Choose Oanda if you...
- Prefer a simpler, proprietary platform like fxTrade.
- Want a broker with strong US and UK regulation for added trust.
- Trade infrequently and don’t mind higher spreads.
- Need only basic deposit methods like bank transfer.
FAQ - IC Markets vs Oanda in Kuwait
Final Verdict - Kuwait 2026
For Kuwait retail traders, IC Markets is the clear winner with a 4.8/5 rating, lower spreads, and support for local payment methods including Bank Transfer, Skrill, Neteller, and USDT TRC20. It also offers Islamic accounts and superior platforms. Oanda, with a 3.6/5 rating, is a reliable option but falls short on cost and deposit flexibility. While neither broker is regulated by the local financial regulator, IC Markets’ strong international regulation and client protections make it the preferred choice for Kuwait traders seeking value and convenience.