IC Markets vs Oanda for Malta Traders (2026)
Which broker is better for Malta traders in 2026? Expert analysis across 12 categories.
Quick Verdict — Malta Traders
For Malta retail traders comparing IC Markets vs Oanda in 2025, the choice often comes down to cost, platform features, and local payment support. IC Markets, with a Trustpilot score of 4.8/5, is a top-rated broker known for its ultra-low spreads starting from 0.0 pips, fast execution, and support for popular Malta payment methods like Bank Transfer, Skrill, Neteller, and USDT TRC20. Oanda, scoring 3.6/5, is a well-established broker with a strong reputation for forex education and reliable pricing, but its offerings for Malta traders are less competitive in terms of spreads and deposit options. Both brokers accept Malta clients and offer robust trading platforms, but IC Markets stands out for active traders seeking lower costs and more flexible funding. This comparison will help Malta traders decide which broker aligns better with their trading style and local needs.
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 |
When comparing trading costs for Malta traders, IC Markets offers significantly lower spreads than Oanda. IC Markets' Raw Spread account provides spreads from 0.0 pips with a commission of $7 per lot round-turn, while Oanda's spreads average 1.0-1.5 pips on major pairs with no commission. For a Malta trader executing 50 lots per month, IC Markets could save hundreds of dollars in spread costs. Oanda's pricing is more transparent but less competitive for high-volume traders. IC Markets also offers a Standard account with spreads from 1.0 pips and no commission, making it suitable for smaller traders. Overall, IC Markets is the cost-effective choice for Malta traders who trade frequently.
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 - Malta Traders
| Entity / Asset | IC Markets | Oanda |
|---|---|---|
| Malta (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 | ✓ | ✓ |
Both IC Markets and Oanda provide powerful trading platforms for Malta traders, but IC Markets offers more variety. IC Markets supports MetaTrader 4, MetaTrader 5, cTrader, and WebTrader, all optimized for fast execution and advanced charting. Oanda offers its proprietary platform, MetaTrader 4, and TradingView integration, which is user-friendly but less customizable. Malta traders who prefer algorithmic trading or advanced tools will find IC Markets' cTrader and MT5 superior. Oanda's platform is ideal for beginners due to its intuitive interface and educational resources. Both brokers have mobile apps compatible with iOS and Android, ensuring Malta traders can trade on the go.
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 is known for its ultra-fast execution speeds, averaging 40ms, thanks to its Equinix NY4 data centers and No Dealing Desk (NDD) model. Oanda offers reliable execution but with slightly higher latency, averaging 50-60ms. For Malta traders who scalp or trade news events, IC Markets' low-latency execution reduces slippage and improves trade accuracy. Oanda's execution is still solid for swing traders, but IC Markets is superior for high-frequency strategies.
Regulation & Safety for Malta 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 top-tier authorities including ASIC (Australia), CySEC (Cyprus), and the FSA (Seychelles), while Oanda is regulated by ASIC, FCA (UK), and CFTC (US). Neither broker is directly supervised by the Malta Financial Services Authority (MFSA), but both comply with EU financial standards through their CySEC or FCA licenses, which offer client protection for Malta traders. IC Markets' CySEC regulation provides negative balance protection and investor compensation up to €20,000 under the ICF. Oanda's FCA regulation offers similar protections. Malta traders should note that both brokers are reputable and have strong regulatory oversight, ensuring fund safety.
Deposits & Withdrawals for Malta
| 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 |
Malta traders have several deposit and withdrawal options at IC Markets and Oanda. IC Markets supports Bank Transfer, Skrill, Neteller, and USDT TRC20, with no deposit fees and instant processing for e-wallets. Withdrawals are processed within 1-2 business days for e-wallets and 3-5 days for bank transfers. Oanda accepts Bank Transfer and Skrill, but does not support Neteller or USDT TRC20, limiting flexibility for Malta traders. Oanda's withdrawal times are similar, but the lack of crypto funding is a drawback. For Malta traders who prefer using USDT TRC20 for fast, low-cost transactions, IC Markets is the clear winner. Both brokers require account verification before processing withdrawals.
Islamic Accounts - Swap-Free for Malta 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 Malta Muslim traders who wish to trade without earning or paying interest. IC Markets provides Islamic accounts on all account types (Raw Spread and Standard) with no swap fees on overnight positions, and the account can be opened by contacting support. Oanda also offers swap-free accounts upon request, but it may require additional documentation and is not available on all account types. IC Markets has a more straightforward process and wider availability for Malta clients, making it the preferred choice for Muslim traders in Malta.
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 dedicated support for Malta traders in English. Oanda provides support 24/5 via live chat, email, and phone, with a comprehensive FAQ section. IC Markets' round-the-clock support is beneficial for Malta traders who trade during different sessions. Both brokers have responsive teams, but IC Markets' availability on weekends gives it an edge for urgent queries.
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? - Malta Guide
Choose IC Markets if you...
- Are a Malta retail trader seeking the lowest spreads starting from 0.0 pips
- Prefer multiple payment methods including Bank Transfer, Skrill, Neteller, and USDT TRC20
- Need fast execution for scalping or high-frequency trading
- Want access to MT4, MT5, and cTrader platforms with advanced tools
Choose Oanda if you...
- Are a beginner Malta trader looking for a user-friendly platform and educational resources
- Prefer a broker with strong historical reputation and transparent pricing
- Trade less frequently and value fixed spreads over ultra-low variable spreads
- Do not require crypto or e-wallet funding beyond Bank Transfer and Skrill
FAQ - IC Markets vs Oanda in Malta
Final Verdict - Malta 2026
For Malta traders in 2025, IC Markets is the superior choice over Oanda due to its higher overall score (4.8/5 vs 3.6/5), lower trading costs, and support for local payment methods like Bank Transfer, Skrill, Neteller, and USDT TRC20. IC Markets' regulation by CySEC and ASIC ensures strong client protection, while its fast execution and advanced platforms cater to active retail traders. Oanda remains a solid option for beginners or those who prefer a simpler platform, but its limited deposit options and higher spreads make it less competitive for Malta traders. If you prioritize cost-efficiency and flexibility, IC Markets is the recommended broker. Always verify current terms with the Malta Financial Services Authority (MFSA) guidelines.