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OANDA is one of the few brokers capable of providing service for US traders. There are some aspects to consider when it comes to trading with this broker.
It's no secret that the USA has one of the strictest financial regulatory bodies in the world. Most brokers don't provide their services to traders in the USA. However, a few brokers have been able to surpass all restrictions and get approved to provide services in the USA. Today we're going to dive into one such broker called OANDA. Let's find out all about it!
Traders looking for brokers with accurate precision, OANDA can be an option. That is because OANDA is a broker that provides quotes with 5-digit accuracy and active price movements that follow market developments. Order execution speed is also faster in this broker.
It provides benefits for novice traders, as they can trade with smaller volumes using the calculation system based on currency value, unlike other brokers adopting the lot system.
Founded in 1996, OANDA was built by Dr. Michael Stumm who is a lecturer in Computer Engineering at the University of Toronto, Canada, along with his colleague, Dr. Richard Olsen of The Olsen Ltd., which is one of the leading econometric research institutes. They have a head office in San Francisco, United States.
OANDA branch offices can be found everywhere. Some of these offices are located in the United Kingdom, Singapore, Japan, and Canada. With this number of offices spread, OANDA has increasingly attracted the attention of clients worldwide.
OANDA's company is registered under several well-known jurisdictions in financial trading. They are regulated by CFTC and NFA in the US, FCA in the UK, ASIC in Australia, and many others. Traders do not need to worry anymore about security when trading in OANDA. However, these advantages make trading rules at OANDA more stringent compared to other brokers.
For example, OANDA only allows maximum leverage of 1:20, because the rules in the US and Japan do not allow leverage above that. Besides, the registration procedure is more complex due to various additional requirements that are not submitted by other forex brokers. On top of that, hedging is not allowed in one trading account as the client must open an additional account to hedge.
Nevertheless, OANDA is known for being a leading broker with many advantages offered. OANDA faces increased market risk during periods of price volatility, such as economic and political news announcements. When market spreads increase or decrease, their pricing engine widens or narrows spreads accordingly. That way, traders can get the latest conditions from price movements in the market more quickly.
Prices move very fast in the market. Especially when news releases have a large impact on market volatility. This condition is often exploited by brokers to take advantage of clients with Requotes. However, traders do not need to worry about additional costs when trading with OANDA.
The company never withdraws Requotes so traders can get maximum profit. When traders are unavailable to monitor open positions, they can set take profit orders to lock in profits and Stop Loss orders to help protect against further losses.
As an experienced and well-known online forex broker, OANDA is committed to maintain an efficient trading environment that reduces latency and provid tools to help clients manage the degree of acceptable slippage.
With a fast & reliable trading platform by OANDA, clients' trades are executed in 0.012 seconds. This suits traders who choose brokers based on execution speed.
Because of this exceptional execution service, it is not surprising that OANDA won many awards, including the winner of the world's Best Retail FX Platform at the prestigious e-FX awards. The broker is also voted number 1 for Consistency of filling trades at quoted prices, Execution speed, and Reliability of platforms.
There is no minimum deposit or minimum balance required to open an OANDA account. Deposit and withdrawal can be done easily. OANDA provides a variety of payment method facilities, including Paypal, Wire Transfer, Credit Card, and Debit. Traders can adjust it to the region where they live.
OANDA provides more than 100 trading instruments, including 71 currency pairs, 16 indices, 8 commodities (Brent Crude Oil, Copper, Corn, Natural Gas, Soybeans, Sugar, etc.), 6 Bonds, and 23 Metals.
The fxTrade and MetaTrader platform are available at OANDA. These platforms can be used for Desktop and Mobile. Another plus is they have an OANDA Technical Analysis that exists in collaboration with a technical analysis provider called Autochartist.
With these platforms, clients can monitor price movements easier and automatically recognize patterns created on charts, as well as receive alerts when the awaited patterns appear. Access to this technology can be enjoyed free of charge.
In conclusion, OANDA is an ideal broker for traders in need of fast execution backed by many years of experience. The company is also a good alternative for those looking for a well-regulated broker with flexible trading and deposit conditions.
What is OANDA?
OANDA is one of the very first brokers in the financial industry. They have been providing brokerage services since 1996. Since their establishment, they expanded from just the US to now having offices in many different parts of the world including the UK, Canada, and Japan.
OANDA prides itself in being a market maker where it is the sole executor of all clients' orders. Trades placed with OANDA are executed at the best rates and the fastest transaction speeds. Also, through a large team of analysts, OANDA provides market analysis to help all kinds of traders.
OANDA provides brokerage services to many different countries all over the world including the United States. They are part of the National Futures Association (NFA) and the Commodities Futures Trading Commission (CFTC) so you can rest assured your funds are safe and secure.
However, there is a catch. While traders in the US have access to OANDA, they don't have access to all the instruments provided by OANDA. To be more clear, US traders can only trade forex or currency pairs on OANDA. CFD trading is not available to traders in this region. Also, strict terms and conditions in the US may cause OANDA to eliminate services that don't comply with NFA and CFTC, including high leverage and third-party payments.
See Also:
OANDA Platforms
OANDA provides users with a wide variety of trading platforms to choose from. These platforms are available to traders from all over the world, including the United States. You get to choose from either OANDA's proprietary platform or the popular MetaTrader 4 and MetaTrader 5.
The proprietary platform is called OANDA Trade and provides a more personal experience. It is fully customizable and supports both web trading and trading through the app. Meanwhile, MetaTrader 4 and MetaTrader 5 are the most popular trading platforms currently and have a very simple interface.
See Also:
OANDA Customer Support
When choosing a broker, one of the most important aspects to look at is customer support. You need to know if a broker has a good customer support team that can help you in times of need. This can be the middle line between achieving success as a trader or losing all your money.
OANDA customer support team is available five days a week. They are open to receiving queries through phone, email, or even the live chat feature on their website. You can also reach them through social media. To simplify the process, some FAQ topics are available to answer customers' basic questions.
In general, there is no doubt that OANDA is one of the top brokers in this industry and that they are among a few brokers that are able to provide their services in the US. Although US clients are unable to trade CFDs, they can still access a wide range of currency pairs with this broker. More importantly, all of them come with affordable trading fees.
51 Comments
Robert
Feb 7 2023
Wow, I think getting into the US trading market is very difficult because of the many strict regulations related to trading. Only a few brokers can enter the US. and yes, the great thing is, OANDA is one of the many brokers that has managed to expand its wings in the US market.
In my opinion, OANDA is a good broker in trading, the proof is that this broker is accepted in the US market, which is known to have one of the most stringent financial regulatory bodies in the world. But just getting in doesn't guarantee a good and safe broker for trading. and yeah before that I didn't know whether the OANDA broker was safe or not. if there are friends who know, can you help explain the security of this broker? thanks, guys...
Keylen
Feb 7 2023
Robert: OANDA has been involved in the currency business since 1996. This broker has become one of the most popular and well-capitalized forex market makers, through the offered trading platform fxTrade. This broker is also the authoritative source for currency data for reputable companies, including tax authorities, accounting firms, and financial institutions.
If you ask whether this broker is safe or not in trading for traders, especially US traders, I believe that this broker is safe and worthy of being an option in trading. OANDA Corporation is a registered Retail Foreign Exchange Dealer (RFED) with the U.S. Commodity Futures Trading Commission (CFTC), and a Forex Dealer Member (FDM) of the National Futures Association (NFA # 0325821).
Although not all instruments offered by OANDA have US permits, OANDA is still a safe broker for trading and forex or currency pair trading is still available on OANDA. But yeah, the 2 instruments offered by OANDA in the US market have few products, Forex alone is only about 45 Forex pairs offered by OANDA.
Maybe if you ask whether this broker is safe or not, I'm sure this broker is safe. But if asked whether it is good or not, it depends on the wishes of the trader himself.
Diego
Feb 7 2023
Keylen: hello friend, I completely agree with what you have explained about the security of this broker. as already explained that the OANDA broker is safe for trading because it has been supervised by a regulator from the US.
Yeah apart from that, OANDA also received several awards related to trading. OANDA has won numerous awards for their services and products over the years, such as Best Educational Material 2018 (Investment Trends – US Foreign Exchange Report) and No. 1 Forex Broker. 1 in Singapore 2017 (Investment Trends Singapore CFD & FX Report). Recently, OANDA was voted Most Popular Broker and Best Forex and CFD Broker 2020 by TradingView clients in the company's inaugural TradingView Broker Awards. TradingView is one of the world's largest social networks for traders, with over 15 million registered users worldwide.
OANDA maintains customer funds in accounts with top banks, and it is its policy to only withdraw customer funds as a direct result of their trade-related activities or withdrawal requests.
however, in Samoing, there are several countries that do not receive negative balance protection, so traders from these countries may experience losses in excess of the value they invest.
Honey
Feb 7 2023
Even though I rarely get to know this broker, it turns out that OANDA is a good broker because it can expand its market in America too. As far as I know, there are very few brokers who can enter the US market, because there are quite strict rules for trading, of course.
I can conclude that this broker is recognized by traders in America. What surprised me the most was that they also had an office there. it is a big achievement in my opinion for a forex broker. However, because I rarely hear about this OANDA broker, I don't know if this broker is good for beginners. friends, can you please explain, if this broker is suitable for novice traders, especially those in the US? Thank You
Lalisa
Feb 7 2023
Honey: Hello, friend, your question is very to the point, and it's good in my opinion. Along with the development of technology and also the interest in forex trading is increasing every day. Lots of brokers offer trading with all the benefits shown. Maybe for experienced traders choosing a good broker for them is not too difficult because they already have knowledge related to trading. However, for novice traders, it is not easy to choose a suitable broker for them.Not all brokers provide suitable and decent services for novice traders. Now, this is in accordance with your question regarding OANDA for novice traders.
In my opinion, OANDA provides a feature that all novice traders including US traders need, namely its educational features, novice traders will get a relatively friendly user experience with a structured education section available for traders with different experience levels. Considering OANDA's history as an FX data service, it is not surprising that the market analysis offered is both detailed and excellent.
Even though US traders have restricted access to all the instruments offered by this broker, Forex is still available for US brokers. I think for a novice broker, Forex instruments are very popular.
Sweety
Feb 7 2023
Lalisa: Yeah Maybe if I agree with you on the education feature, I admit that OANDA is indeed good in terms of its educational features and is more for novice traders. But I don't agree with you, because OANDA's educational section cannot be found easily on the OANDA website. This section is not linked from the menu at the top of the page and can only be found in the menu at the bottom of the page. I don't know whether this is intentional or a form of negligence on the part of the OANDA team.
And yeah, even though the educational features are good because the educational section placement feature isn't quite right, I can't say whether this broker is good or not for beginners. But what I need to emphasize here is that OANDA has successfully entered the US trading market, and this is an achievement, even though the instruments it offers are very limited, only forex and currency pairs, and even then not many products.
Keylen
Feb 7 2023
Lalisa: Oanda is a broker that offers direct settings, offers trading instruments, competitive prices and a sophisticated trading platform including educational features that have been programmed to be appropriate for novice traders.
If you also see from the funding session, I think the broker can be said to be good and provides low fees. OANDA does not provide a minimum deposit limit so it is not burdensome for beginners. OANDA provides 3 deposit and withdrawal methods, namely the Bank transfer method, Credit/Debit Card, and Skrill/Neteller.
Of all the methods provided, almost all are free of charge on both deposits and withdrawals, although conversion fees may apply and Skrill/Neteller may charge additional service fees and banks may also charge processing fees, especially in the case of international bank transfers.
Charlotte
Feb 7 2023
As explained in this article, OANDA is one of the brokers that has successfully entered the American trading market. I think OANDA is a good broker in terms of customer support.
In trading, every second is money. This means if there is a problem with the platform or account it can prevent you from making profits in trading. Therefore a broker with nimble customer support is what traders need. in my opinion, OANDA has fulfilled the rights of its customers 24/5 with multi-language support.
Even though the holiday trading jams, traders can still contact their customer support team at any time via email. there is also online live chat and phone support also available during trading hours. So in my opinion, all customers from OANDA get comfort in trading, including traders from America.
Victor
Feb 7 2023
Charlotte: I agree with your opinion which states that the customer support at the OANDA broker is quite good for all traders. After all, OANDA is a broker with an ideal trading platform for everyone. FxTrade is what OANDA offers. The system has been designed in a way that is easy to use and offers some of the best tools to support forex and CFD trading activities, even though CFDs are not available to US traders.
However, certainly, each feature has its own drawbacks. And for this FxTrade feature, the drawback is that it doesn't have an ultra-modern appearance and its function is still quite awkward to use. to view forums, news, and analysis on the platform, you will be redirected to a new browser instead of opening on the platform.
Despite the drawbacks of this FxTrade feature, it still caters to the needs of trades of all experience levels. You have all the tools you need for trading with just a few clicks plus additional useful features to help your trading.
Bathita
Feb 7 2023
I actually like trading at this OANDA broker, because the customer support at this broker is quite agile and fast response, especially when compared to the complicated trading software available from other brokers. Apart from that, the educational features are very supportive, especially for beginners who are just starting to trade. OANDA offers proper client education, in addition to excellent research.
But unfortunately, US traders who cannot use all the trading instruments offered, only offer trading with currency pairs and forex. This is a limitation for American traders who like other instruments.
and as many traders know, it is precisely in this era that trading cryptocurrencies and CFDs is increasingly popular among traders. Even if you can get access, it's good for the image of this broker. I really do not like this.
Charles
Feb 7 2023
Bathita: Wow, wow, this means you missed the hot news from this OANDA broker. OK, fine, I'll tell you that at the end of October 2022, American traders will be able to access Cryptocurrency trading instruments. This broker announced the launch of a new cryptocurrency trading offering on the US market, designed to give investors easy access to crypto alongside their existing forex portfolio in a secure environment.
As you have explained, trading cryptocurrencies is very popular among traders these days, and OANDA has proven itself as a trading provider with access to trading cryptocurrencies for its customers in the US.
Everything from opening a Paxos account to funding to trading is managed within the app so investors can seamlessly access major cryptocurrencies such as Bitcoin, Ethereum and PAX Gold against the US dollar from an intuitive platform.
Even though US traders cannot access CFD instruments yet, the OANDA broker has proven its reliability by adding access to crypto currency instruments in America (US). and this is a good step from this broker to provide trading convenience for its customers, especially those in the US. Maybe in time OANDA will also be able to gain access to CFD instruments. No one knows about this.
Thomas
Feb 7 2023
Charles: yeah i have also heard the news. I think currently OANDA is also a good broker for Cryptocurrency trading. the launch of this offer is an opportunity for traders to gain cryptocurrency exposure in a smart way with a trusted brand.
Cryptocurrencies were born out of a counterculture – the desire to trade currencies that are not regulated by any central bank and are not influenced by national currencies and major economic events. However, the interest of traders to trade cryptocurrencies is actually higher every year. That's why OANDA is ready to increase the demand for crypto trading by presenting cryptocurrency to be accessed by all traders, including US traders.
Oh yes, don't forget that OANDA has years of experience and an unrivaled record of offering trading in forex and other derivative instruments around the world. OANDA's crypto partner, Paxos, is a leading provider of regulated blockchain infrastructure.
The functionality provided by the OANDA app goes beyond basic 'buy & sell', as traders can set limit and stop order parameters in their account and take profit and stop loss on positions.
Panzer
Feb 7 2023
yeah even though OANDA has succeeded in entering the US market, this can't change my view that OANDA has a broker with limited instrument offerings. I don't think OANDA really has an advantage if we look at it from the side of the trading instruments.
Indeed, Oanda provides trading instruments ranging from commodities, crypto currencies, stock CFDs, forex, Indeces, and metals, but none of these instruments stand out, meaning that all the instruments are on average.
This broker also provides 3 account options, namely a demo account, a swap-free account, and a standard account, however, the three live accounts only have a maximum leverage of 200: 1. And that, in my opinion, is a small number compared to other brokers who can even offer around 500 leverage. :1.
While there is no minimum deposit on the Standard Account, the trading conditions offered are average, and no negative balance protection is provided for Indonesian traders. Customer service is not available over the phone or in Indonesian, but the education and market analysis features are excellent and OANDA provides a number of tools and plugins for MT4.
Ostland
Apr 25 2023
@Panzer: Well known and CFTC regulated, OANDA has a very high trust rating and is a reliable trading partner for American traders. A popular US broker, OANDA has a comprehensive education suite, no minimum deposit requirements, low transaction fees, and an excellent mobile trading app. We also offer regulation from 7 major authorities worldwide, including the US CFTC, making us one of the lowest risk brokers.
The CFTC requires OANDA to provide negative balance protection for all clients and keep its operating funds segregated from client accounts. It also prevents OANDA from offering leverage higher than 50:1 on major Forex currencies, and since CFD trading is illegal in the United States, it only allows spot contracts on Forex.
Traders may be disappointed by the lack of financial instruments and high withdrawal fees, but OANDA supports MT4 and their own platform, giving traders access to various trading options such as Autochartist, premium MT4 tools, and TradingView. Direct access to tools. To DowJones content.
Nasyura
Mar 2 2023
What are some of the unique features of OANDA's trading platform? What makes this broker so appealing to newbie traders, even outside US
Habib Sadidi
Mar 2 2023
@Nasyura:
OANDA's trading platform offers several unique features that set it apart from other trading platforms. Some of these features include:
Overall, OANDA's trading platform offers a range of unique features that can help traders improve their trading performance and achieve their goals.
Phil
Mar 10 2023
John
Mar 10 2023
Phil: Well, it's like this - US regulators like the NFA and CFTC have some pretty strict rules about trading, and they don't allow certain types of financial products like CFDs. It's kind of a bummer, because it means that traders in the US can't diversify their portfolios as much as they might want to. Basically, they can still trade Forex, but they're missing out on other cool stuff like Gold, Silver, and certain types of stocks and indices.
It's a bit of a shame, really, because it means that traders in the US have less freedom than traders in other parts of the world. But hey, rules are rules, right? I recommended to read about the NFA and CFTC specification in this link: NFA Regulation and CFTC Regulation
Ferrel
Apr 7 2023
OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features underpins its overall offering. High-quality market research articles and daily analysis updates can be found on the Market Pulse hub.
By the way, what is negative balance protection? and why is it so important? Every broker I know today has this feature. Floating loss means the position is still open, and if you don't close it, you have nothing to lose, right? That's because I don't understand why a margin call whereas in the stock market doesn't have one and as long as I open a position, I don't close it, I don't actually suffer a loss.
Ukrain
Apr 8 2023
"Floating loss means the position is still open and you don't have to lose if you don't close it, right?" Therefore, you should be wary of variable losses affecting your free margin. A cut loss or margin call occurs automatically when the floating loss approaches equity. Margin calls also occur on the stock market, but they rarely occur because stock market volatility is lower than foreign exchange volatility and stock market liquidity is limited. Forex, on the other hand, is highly volatile and liquid. This can lead to more serious pending losses and even more losses. In reality, a margin call is a broker's system warning you to deposit more money. Because more money means more options for dealing with pending losses.
Elli
Apr 8 2023
I remember an incident that caused a lot of money management chaos at many brokers and caused many to go bankrupt. So I don't know exactly when there will be a negative balance policy and no foreign exchange yet. Due to several economic events, forex volatility is currently very high and many traders have negative balances. As a result, some traders cut their losses when their balance is negative to avoid the worst losses.
His attempts to cut losses eventually turned into debt to his broker. Therefore, it affects the broker going bankrupt. Why can't brokers fulfill debts? their traders or i say their clients are all over the world. Debt collection is not possible. And many debt traders open another account with another new broker and make the wrong move in forex trading, ending up with a negative balance and clipping losses. This eventually becomes a cycle of debt.
To prevent this, financial regulators have issued new regulations adding negative accounts to brokers. This allows the broker to reduce losses on trading positions close to a margin call.
So, in conclusion, all brokers now have negative balance protection in place to avoid things like negative balances being owed to traders if traders don't deposit back into their accounts. Unresolved debt can be detrimental to the broker
Saito
Apr 7 2023
A popular broker in the US, OANDA has a comprehensive educational suite, no minimum deposit requirements, low trading fees, and a great mobile trading app. It also offers regulation from seven of the world's top authorities, including the US CFTC, making it one of the lowest-risk brokers.
But because I'm still a beginner in the world of trading, there are some things I don't know and I want to ask. it's about inactivity fees. In other words, if you don't trade within a certain amount of time and you know your broker will charge you this fee, you will be charged an inactivity fee. The same goes for your insurance policy. If you don't make a deposit for a while, your balance will be withdrawn.
For some reason you get charged if you don't trade there, I don't understand why they have to charge an inactivity fee. There are many factors that cause traders to stop trading for a while. Isn't it unfair to charge inactivity fees because the trader isn't actually trading and the broker isn't getting trading fees?
Taeyang
Apr 8 2023
My friend, I want to help explain about this inactivity fee. inactivity fee refers to the service fee charged by banks and other financial institutions to their clients when there is no activity on their accounts. Inactivity fees are charged when certain accounts are inactive or when investors do not place buy or sell orders in their brokerage accounts for a certain period of time.
The timeframe varies by a broker but is usually 6 months to a year. This means that traders who stop trading for six months to a year can lose focus on forex trading. You must admit that you have lost the ability to track and analyze the market.
For example Broker, OANDA charges traders an inactivity fee of $50 if the account balance is less than $2,000. Traders can avoid this fee by making at least five trades over a 12-month period.
The main reason brokers charge an inactivity fee is that they cover their own expenses. Brokers have ongoing costs associated with customer account maintenance, customer support, account management, and regulatory compliance. If the client does not generate income for the broker from his trading activity, the broker may charge an inactivity fee to cover this fee. This is because the account requires maintenance and may incur a fee.
Justin
Apr 8 2023
Usually, Brokers may require a minimum number of transactions per year or they may charge an inactivity fee. The brokers that offer these accounts make their money from the trading commissions of traders. When a customer rarely trades, the broker makes no money from that customer.
The broker may then try to compensate for the lack of commissions by charging an inactivity fee. Smaller, passive investors who make few trades are the most hurt by inactivity fees.
It's safe to say that Oanda's fees are generally low. They either don't charge brokerage fees for things other brokers charge, or they only charge a small fee. This means you can use Oanda even if you trade a lot like a few times a week or every day.
In terms of looking at all non-trading fees, Oanda is a cheap broker. This means they don't charge much for non-trading-related activities on your trading account, such as withdrawal fees.
Non-trading fees include various intermediary fees and the fees you pay on Oanda are not related to the buying and selling of assets. Among others, typical non-trading fees are withdrawal fees, deposit fees, inactivity fees, and account fees.
Tabhita
Apr 7 2023
OANDA has a good reputation within the Forex trading community and the company has received several awards for customer service and customer satisfaction ratings. OANDA offers support for MT4 and its own platform, and traders can access a variety of trading tools, including Autochartist, MT4 Premium Tools, and TradingView, which provide direct access to content from Dow Jones.
The CFTC requires OANDA to provide negative balance protection for all clients and keep its operating funds segregated from client accounts. It also prevents OANDA from offering leverage higher than 50:1 on major Forex currencies, and since CFD trading is illegal in the United States, it only allows spot contracts on Forex.
Akash Joi
Apr 7 2023
Oanda is one of the best forex CFD brokers for 2023 and currently offers Ceripto CFD instruments as well. This broker has managed to grow very well to provide the best trading facilities for the public or traders. we understand that trading activity is very tempting because it offers a number of significant advantages. However, the risks faced are also equivalent. Therefore we, as beginners, understand better what platforms and services are offered by OANDA.
Usually, many traders know that some brokers offer a meta trader 4 as well as a meta trader 5 platforms in their platform. And yes, OANDA US has provided this. however, I haven't seen any MT5 platforms on OANDA in regions other than the US.
What are the main differences between the version of OANDAUS and the OANDA that I'm using? Okay from the article, I can understand if there are other account types in the US Version, but if that's all, why don't they add the MT5 account type to OANDA-US? I mean, if you want, or just the MT5 account. I mean make it the same as the non-US version. So it won't confuse me as a trader.
And why is the leverage in the American version so low? At 1:50 though, on this site while reviewing brokers, I found that the leverage used was 1:500 and it was exactly the same as mine which was 1:500. This is my question about OANDA US or not, it's a good question, right?
Marcail
Apr 8 2023
I think why OANDA US and other OANDAs have different trading conditions because they have different regulations. For example, United States financial regulations are intended to be different from those of Cyprus. Why? Because if OANDA wants to be regulated by the Commodity Futures Trading Commission (CFTC) and members of the National Futures Association, then it must follow the terms and rules set by the CFTC.
So, whether we like it or not, brokers have to change their trading conditions to comply with United States trading conditions. Also, if OANDA wants to enter Cyprus and be regulated, it will have to change its terms of trade to suit each country's rules. So don't be confused if trading terms apply differently between United States traders and other traders. And this is also why many brokers add regulation to regulation. If you have lots of regulations, you can set flexible trading terms such as:
OANDA has a good reputation within the Forex trading community and the company has received several awards for customer service and customer satisfaction ratings. In addition, the CFTC requires OANDA to provide negative balance protection for all clients and keep their operating funds segregated from client accounts.
Phun Khan
Apr 8 2023
I think why OANDA US and other OANDAs have different trading conditions because they have different regulations. For example, United States financial regulations are intended to be different from those of Cyprus. Why? Because if OANDA wants to be regulated by the Commodity Futures Trading Commission (CFTC) and members of the National Futures Association, then it must follow the terms and rules set by the CFTC.
So, whether we like it or not, brokers have to change their trading conditions to comply with United States trading conditions. Also, if OANDA wants to enter Cyprus and be regulated, it will have to change its terms of trade to suit each country's rules. So don't be confused if trading terms apply differently between United States traders and other traders. And this is also why many brokers add regulation to regulation. If you have lots of regulations, you can set flexible trading terms such as:
OANDA has a good reputation within the Forex trading community and the company has received several awards for customer service and customer satisfaction ratings. In addition, the CFTC requires OANDA to provide negative balance protection for all clients and keep their operating funds segregated from client accounts.
Adelia
Apr 8 2023
How can I trade with only 1:10 and 1:50 leverage. I was wondering what is the minimum deposit to deal with OANDA broker if I am a US trader? Which leverage is best for traders. I know that high leverage can cause many traders to over trade and automatically cut money.
However, if used wisely, high leverage can be a very useful tool for traders with small amounts of money. And what is the minimum deposit at OANDA broker, can traders trade well with this leverage, because to be honest, this kind of leverage doesn't seem to be enough for trading unless you have a lot of money? Sorry to comment as I was wondering about the deposit that may be required for this leverage.
Zee Pho
Apr 9 2023
Hello friends, Let me answer your question, broker OANDA US requires a deposit of up to 0 USD, but for premium accounts, traders need a minimum deposit of USD 20,000 to be able to trade. and can they trade on that margin with 1:50 leverage? Yes, it is tradable but very limited.
Actually you can calculate the required margin if you trade with 1:50 leverage and I think the trading volume you can use is a micro size which is 0.01 lot. More than that, you may get a margin call.
Remember that prices are also affected, so to trade without margin calls, with 1:50 leverage and low deposit and no restrictions, the maximum trades you can open is 3. And you can calculate again with this 1:10, but I think you can only trade one position. And one more thing you need to watch out for is the deposit/equity. If it has gone down, your margin will also be affected. SO price and equity can impact your margins.
Ketlyn
Apr 9 2023
OANDA offers two accounts, which is limited compared to other brokers, but we were pleased to find that their trading fees are lower than most. Spread-only options have trading fees included in their variable spreads, whereas core pricing options offer tighter spreads in exchange for a small commission per trade. The Standard account has no minimum deposit requirement, while the Advanced Trader's account has a minimum deposit requirement of 10,000 USD.
OK, now I understand. So without a minimum deposit and 1:50 leverage is enough if I trade 0.01 lots, right? Hmmm ok, how low leverage can limit traders from trading, what about high leverage? How many traders can say that high leverage is dangerous? I calculated the margin using for example 1:1000 leverage and got the following result:
It only uses $1,092 in margin and by the calculation you shared, my margin level is 22,893 %
Zue Thai
Apr 10 2023
Oanda is a US-based forex trader who has gained popularity in recent times due to the provision of services. Services are provided under great trading conditions as well as great customer service. however I still have a variety of customer questions popping up.
Sorry to have to say something about that. I was totally confused while reading the OANDA Terms of Service (very important, my poor English confused me a bit). You undertake to manage account balances and avoid situations where the Merchant is in debt to OANDA.
Speaking of debt, staying out of debt is actually a very good thing, from both a trader's and a broker's point of view. Yes, negative balance protection is a very nice feature. You should also read the terms and agreement with your broker before trading. How do I know if my broker has negative balance protection?
Whalien
Apr 10 2023
I think I have some tips: Check your broker's website. Most reputable brokers clearly state on their website whether they offer negative balance protection.
Look for information in their FAQ section, or on their trading terms or account types page. If you cannot find the information on your broker's website, please contact their customer service team to see if they offer negative balance protection.
Be sure to ask for details about how the protection works and what limitations apply. Depending on the location of the broker, negative balance protection may be legally required.
Check your agency's jurisdictional regulations to see if this is the case. For example, the United States' OANDA brokerage is required by the Commodity Futures Trading Commission (CFTC) and a member of the National Futures Association, to offer negative balance protection. Look for reviews from other traders who have used the broker to see if they offer negative balance protection. However, if you really want to find out without reading the terms and conditions, follow Tip 2 and contact the customer service provided by the broker.
Ghuk Tae
Apr 11 2023
OANDA is generally regarded as a safe and reliable forex broker. It is regulated by 8 top-tier international regulators, including the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC) in the US, the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC).
Monitoring of their activities by various regulatory bodies further protects client funds and helps brokers operate according to industry standards in a transparent manner.
However, as with all financial services, there are always risks and traders should always consult their broker before investing money. Also, have a risk management strategy in place and never invest more money than you can afford to lose. This is also important. So if you want to keep this account as a trading broker, that's fine, but you may want to know more to avoid any doubts.
Estrith
Apr 25 2023
As per CFTC regulations, OANDA only offers Forex trading to US residents, but the range of forex pairs is wide and includes currency majors, minors, exotics and many new currencies. I want to ask, What happens to the inactivity fee if I continue trading on my inactive account?
George
Apr 26 2023
Simply, the fees that may be added to you will be waived because you have already started trading, i.e. your account is active for trading. During this time, previously charged fees cannot be recovered.
I don't know how long your account is inactive (meaning your account is inactive for trading for 12 months), you better have a deposit if you are still going to trade with OANDA in the future because if you have no deposit or your deposit is not enough to pay the inactivity fee, your account will be d forever.
Tabhita
Apr 26 2023
Certain brokers charge account inactivity fees as a way of encouraging their clients to be active and generate income for the broker. An account inactivity fee is usually charged when an account is inactive for a certain period of time, such as 6 months or a year, and the client does not make any trades or deposit any funds into the account during that time.
Here are some reasons why a broker may charge an account inactivity fee:
So if you consider yourself unlucky here, you can always look for better options elsewhere (no one is forcing you to keep trading with a broker)
Calvin
Apr 25 2023
OANDA offers support for MT4 and its own award-winning platform, which is beneficial for novice traders, and although OANDA only offers trading on two live accounts, the trading fees are lower than other similar brokers.
This might be a silly question, but I thought I should do it. Why does OANDA charge an inactivity fee? I'd rather have a button to close my account than an inactivity fee.
Even other brokers have the privilege of offering no inactivity fees, so traders can rest assured that their money is safe once they stop trading there. And without these inactivity fees, I feel like my broker is truly in charge of my account and funds.
Marcail
Apr 26 2023
I disagree with your reasons and statements about inactivity fees. The main reason why OANDA and some brokers charge an inactivity fee is because of the broker's server. The more accounts added to their servers, the more power is required. And the server must be qualified because it will also affect transactions. And the more accounts opened, the more expensive to maintain. In Forex Trading, many accounts will be inactive.
And I believe that every broker will have more inactive than active accounts because most traders, especially beginners, will quit Forex if they fail or lose all their money. Brokers cannot withdraw your funds without terms and conditions, especially segregated accounts. So they will be charged an inactivity fee and that was agreed upon because you agreed to the terms and conditions when you signed up.
Oliver
Apr 26 2023
In my opinion, OANDA US is a completely uncomplicated (simple) broker when it comes to depositing and withdrawing funds. Yes, the fun part here is that you can freely deposit funds. Many brokers ask their clients to start depositing with a limited minimum deposit amount. But the good news here is that you are free to deposit any amount. If you want to deposit, you can start with the lowest amount.
But as far as I know, OANDA US does not charge any fees for deposits, but there is a fee for withdrawing funds via bank transfer. Wire transfer withdrawals are $20 per transaction and take 2-4 business days. Also, be aware that your bank may charge a processing fee, especially for international transfers.
Gavriil
Apr 28 2023
if I prefer the deposit and withdrawal method on OANDA, it's Skrill/Neteller. when compared to other withdrawal methods, Skrill/Neteller is the fastest method in my opinion for funding and withdrawing funds.
Deposits with Skrill and Neteller are free and take up to 1 business day – However, Skrill/Neteller may charge a service fee. Withdrawals to Skrill and Neteller take up to 1 business day and are also free, although conversion fees may apply and Skrill/Neteller may charge additional service fees.
For other funding methods, the process of funds is quite long, around 1-3 days for the credit card method and 2-4 working days for the bank transfer method.
Abeba
Apr 26 2023
In the world of trading, the term spread has many meanings. However, the general meaning of spread is the difference between two prices, rates or yields. The most common definition of spread is the difference between the bid and ask prices of trading instruments such as forex, stocks, indices, commodities, and metals.
Therefore, it is not surprising that many traders are looking for brokers with the lowest spreads. With increasing competition between brokers, it is not uncommon for brokers to compete to reduce spread rates. Spreads from 2 pips to 1 pip are currently commonly found in online forex brokers. In the most extreme case, the broker now starts to squeeze spreads into the 0 pips area.
Indeed, I admit that the spreads offered at OANDA in the US are very tight, especially on the Core and Inti Premium accounts, where the spread is 0.2 pips. But are these two accounts suitable for beginners? In other words, the spread is not the only measure of a broker's eligibility for trader competition. I ask because I know how narrow the spreads offered by this broker are, so OANDA's spreads are up to beginner standards. But is it really suitable for beginners?
Ugwemubwem
Apr 27 2023
@Abeba: Seeing the role of spreads as a trading fee which is a broker's profit, it is only natural that traders take this aspect into account when choosing the best forex broker. Therefore, in the forex learning stage, you also have to really understand spreads. The minimum spread size and the type of forex broker spread will later become important considerations when you open a trading account.
In terms of spread, for several accounts provided by OANDA, it is quite good and tight. But I'm not sure that OANDA is good for beginners if you only rely on accounts with low spreads. Apart from the size of the spread offer, we can see whether a broker is "expensive" from the minimum deposit amount offered. If I were positioning myself as a novice trader, I would not open a trader's account on a Core account, because the minimum deposit offered is very high, at least $5000.
Also, As a market-moving broker with an impressive history and a large non-CFD business, OANDA seems to be quite a disappointment as a CFD provider. Only 38 FX pairs are available for trading, apart from a small number of commodities, indices, and metals, and only MT4 is supported.
While there is no minimum deposit on the Standard Account, the trading conditions offered are average, and no negative balance protection is provided for Indonesian traders. Customer service is not available over the phone or in Indonesian, but the education and market analysis features are excellent and OANDA provides a number of tools and plugins for MT4.
Aamori
Apr 28 2023
I also agree with your explanation about low spreads for some traders, such as: B. Novice traders are not always suitable. Because, as you explained, the core account offers a fairly high minimum deposit of $5000 and the core premium account must maintain a minimum balance of $20000 and trade in denominations of $10 million per month or equivalent or higher Yes, it seems both accounts are offered by OANDA US for Expert Advisors (EAs), short term traders and high frequency traders, are not for beginners.
In fact, OANDA also offers an account that seems suitable for beginners, but the spreads offered are above average for other similar brokers, with EUR/USD spreads on standard accounts starting from a 1 pip increase. But behind this average spread is that OANDA offers a standard account with a much lower $0 fee compared to the INti account. Therefore, you can trade without worrying about fees. The trading instruments offered are the same as those of 200+ core accounts. OANDA offers trading in four commodities: Forex, Indices, Commodities and Precious Metals. Although only 38 forex pairs are available and only the MT4 trading platform is supported, this broker offers 3 account types.
Magnus
Apr 29 2023
OANDA has grown into a large multi-service financial company offering retail CFD trading, Forex data services for institutions, and exchange rate information on more than 38,000 currency pairs. As an international CFD broker, OANDA is highly regulated, with regulatory oversight from no less than 7 top-level national regulators.
OANDA has won numerous awards for its services and products over the years, such as Best Educational Material 2018 (Investing Trends - US Foreign Exchange Report) and the No.1 Forex Broker in Singapore 2017 (Singapore Investment Trends CFD & FX Report). Recently, OANDA was voted Most Popular Broker and Best Forex and CFD Broker 2020 by TradingView clients in the company's inaugural TradingView Broker Awards. TradingView is one of the world's largest social networks for traders, having more than 15 million registered users worldwide.
Overall, due to a history of responsible behavior, strong international regulations, stringent auditing processes, and wide industry recognition, we view OANDA as a broker we can trust.
Kise Ryota
Sep 10 2023
I know that there are only a few brokers who offer a US license, and very few can even get it because they are known for their strict conditions and are difficult to penetrate. However, as a trader who wants to achieve as many trading profits as possible, I also need a broker who provides the best platform and service for its users, not just security. Is the OANDA App suitable for beginner traders?
Apart from that, for the MT4 and MT5 platforms offered, are they available on all account types? So if I open a real account at OANDA, between Visa and bank transfer, which is faster for deposits? Thank You!
Jeffrey Brown
Sep 11 2023
OANDA App is a trading platform that offers various features and tools for trading various financial instruments such as forex, commodities and indices. While this platform may be suitable for beginner traders, it is important to remember that trading can be risky and requires a good understanding of the markets and trading strategies. If you are a beginner trader, it is important to start with a demo account to get used to the platform and trading process. The OANDA App is quite good and provides educational resources such as video tutorials, trading guides, and webinars to help you learn the basics of trading and develop your trading skills.
Regarding the Metatrader platform, I think all types of accounts provide it, be it a standard account or a pro account. However, you have to choose the platform carefully, according to your needs, not because of which one is more sophisticated. As a former trading beginner, I would recommend MT4 because the platform interface is more intuitive and does not have too many features, although it is not as sophisticated and varied as MT5.
Read: Guide to Choose the Best OANDA Platform
Well, Furthermore, it is important to remember that the choice of payment option depends on speed and reliability. While bank transfers are generally reliable, Visa has a proven track record for faster money transfers. If you are choosing between Visa and bank transfer for deposits and withdrawals with OANDA, Visa is usually the faster option. Additionally, if you're concerned about reliability, it's worth noting that most bank cards are Visa or Mastercard. However, it is important to remember that Visa transactions may incur higher fees compared to bank transfers.
Halsey
Sep 24 2023
Hey, I feel like we're getting off track here. Is it just me or has anyone noticed that the regulators overseeing OANDA all come from developed countries such as the US, UK, Australia, Japan, Canada and America? As far as I know, if you have multiple licenses in several countries, they are usually divided into several tiers. Can you explain what this has to do with first, second and third tier regulators? Like what differentiates them? And do you think it is safe to trade with a broker that is regulated by a second or third tier regulator? Let me know, thanks!
Leopard
Sep 25 2023
Hey there! I get what you mean, it does seem like all the regulators overseeing OANDA are from developed countries. As for the first-tier, second-tier, and third-tier regulators, I think the difference is in the level of oversight and authority they have over brokers. First-tier regulators are usually the most powerful and have the most stringent regulations, while second and third-tier regulators may have less authority and fewer rules. As for whether it's safe to trade with a broker that's regulated by a second or third-tier regulator, I'm not entirely sure. It probably depends on the specific regulator and the broker itself.
The reason why first-tier regulators are usually in advanced countries is because they have more stable and mature financial systems with lots of laws and rules to protect investors. These regulators have lots of experience and resources to keep things in check and protect traders and investors from sketchy brokers. Plus, advanced countries often have a ton of huge financial institutions and a big presence in global financial markets, so it makes sense that they'd be in charge of overseeing brokers.
Victoy
Nov 25 2023
One of the crucial aspects for me when utilizing financial services, including brokers, is the customer support. The information indicates that OANDA's customer support team operates five days a week and is accessible via phone, email, live chat on their website, and even through social media channels. The availability of multiple communication channels is advantageous for me. However, I'm curious about the responsiveness of OANDA's customer support. Could someone provide insights on this aspect before I make a decision to choose OANDA as my broker, especially considering it is a U.S.-based broker?
Zeeanda
Nov 28 2023
In my experience, OANDA's customer support has proven to be highly responsive and attentive. The availability of multiple communication channels, such as phone, email, live chat, and social media, provides a convenient and efficient means of reaching out. Whenever I've had queries or concerns, their support team has demonstrated a prompt and helpful approach, ensuring that my questions were addressed in a timely manner. The responsiveness of OANDA's customer support has played a significant role in establishing a positive and reliable experience with the broker. This accessibility and attentiveness contribute to a sense of confidence and satisfaction in the overall customer service provided by OANDA.
By the way, I suggest you reach out your problem with social media because OANDA pretty active in that platform and avoid email because it can took long time to reply if your problem is minor.