IC Markets vs Oanda for Pakistan Traders (2026)

IC Markets offers significantly lower trading costs for Pakistan traders, especially on its Raw Spread account, where spreads start from 0.0 pips on major pairs like EUR/USD, with a $7 commission per lot round turn. Oanda's spreads are variable and typically range from 1.0 to 1.5 pips on the same pairs, with no commission. For a Pakistan trader executing 10 lots per month, IC Markets would cost around $70 in commission versus Oanda's spread cost of $150-$225, making IC Markets up to 68% cheaper. For scalpers and high-volume traders, IC Markets is the clear winner.

IC Markets provides MetaTrader 4, MetaTrader 5, and cTrader, all of which are popular among Pakistan traders for their advanced charting, automated trading, and fast execution. Oanda offers its proprietary platform fxTrade, plus MT4, but lacks cTrader. For Pakistan traders who rely on Expert Advisors (EAs) or need ultra-fast execution, IC Markets' cTrader and MT5 are superior. Oanda's platform is simpler and more user-friendly, suitable for beginners who prefer a clean interface without the complexity of advanced tools.

IC Markets boasts ultra-low latency execution with servers located in the NY4 data center, offering average execution speeds under 40 milliseconds. Oanda's execution is also reliable but slightly slower, averaging 50-70 milliseconds. For Pakistan traders who scalp or use automated strategies, IC Markets' superior execution speed can reduce slippage and improve trade outcomes. Both brokers offer no requotes, but IC Markets' raw spreads and fast execution make it a top choice for high-frequency trading.

IC Markets is regulated by top-tier authorities including ASIC (Australia), FCA (UK), and CySEC (Cyprus), providing strong investor protection. Oanda is also regulated by ASIC, FCA, and CFTC (US), but its regulatory coverage is similar. For Pakistan traders, SECP does not directly regulate these brokers, but both comply with international standards. IC Markets' regulation under ASIC and FCA offers the same level of fund segregation and negative balance protection as Oanda, making both safe choices. However, IC Markets' stronger capital base (over $100 million) adds an extra layer of security.

IC Markets excels in local payment options for Pakistan traders, supporting deposits via JazzCash, Easypaisa, USDT TRC20, and bank transfers with no fees and instant processing. Minimum deposit is just $200 (approx. 55,000 PKR). Oanda only accepts international bank transfers (SWIFT) and credit/debit cards, which can take 2-5 business days and incur high fees (often $20-$50 per transfer). For withdrawals, IC Markets processes via the same methods within 24 hours, while Oanda's withdrawals may take 3-7 days. Pakistan traders will find IC Markets far more convenient and cost-effective for local transactions.

Both IC Markets and Oanda offer Islamic (swap-free) accounts for Muslim traders in Pakistan, in compliance with Sharia law. IC Markets provides a straightforward swap-free account with no additional charges, applicable to all trading instruments except certain commodities. Oanda's Islamic account is also available, but it may impose a holding period (e.g., 30 days) or charge an administrative fee if positions are held beyond that period. For Pakistan traders who require a fully compliant and transparent Islamic account, IC Markets is the better choice.

IC Markets offers 24/7 customer support via live chat, email, and phone, with dedicated Urdu-speaking agents available for Pakistan traders. Oanda provides 24/5 support via live chat and email, but lacks Urdu language options. Response times are similar (under 5 minutes for live chat), but IC Markets' round-the-clock availability and local language support give it an edge for Pakistan traders who may need assistance during different time zones.