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OANDA Review

Broker Information Security Popularity Payment Spec Instruments Score
Security A
Popularity D
Payment A
Spec A
Instrument A
A
D
A
A
A
score 77
OANDA
  Regulation 100  
ASIC
IIROC
FSA (japan)
MAS
FCA
CFTC
FSC (BVI)
  Security 100  
Segregated accounts
Negative balance protection
Established more than 10 years
Compensation scheme
  Instrument 100  
Forex
Commodities
Indices
Stock
Crypto
etf
Gold
  Platform 81  
MetaTrader 4
MetaTrader 5
  Payment 100  
Bank Transfer
Credit/debit card
Neteller
Skrill
Wire
  Features 100  
Webinar
Bonus
Education
US Trader
Api
Affiliate
Automated trading
Vps
  Spec 100  
Islamic account
Hedging
Scalping
Fixed Spread
Swap

πŸ’² Min Deposit $0

βŒ› Year Established 1996

πŸ’Ό Regulation

πŸ’‘ Min Position 0.00001 lot

🌐 Website www.oanda.com

🌎 Country United StatesUnited KingdomJapanBritish Virgin IslandsMaltaSingaporeAustralia

βš– Max Leverage 1:20

πŸ•‹ Islamic Accounts available

πŸ‡ΊπŸ‡Έ US traders are welcome

Negative balance protection

πŸ“ Segregated accounts

Compensation scheme

VPS Affiliate program

Education

Webinar

Swap

Pros

  • More than 70 currency pairs available
  • Available worldwide
  • No commission per lot
  • Great learning content
  • No minimum deposit

Cons

  • Limited customer support hours
  • Lack of direct social copy trading features
  • Only USD as the base currency

OANDA is a well-established broker since 1996. OANDA has headquarters in United States, United Kingdom, Japan, British Virgin Islands, Malta, Singapore and Australia. OANDA to provide their Forex/CFD trading services to over 4 million clients.

This broker has also been regulated by CFTC/NFA 0325821, FCA 54257, FSA (Japan) 1571, FSC (BVI) SIBA/L/20/1130, Kanto Local Finance Bureau (Japan) 2137, MFSA 18, 12, 2020, MAS 200704926K, ASIC ABN 26 152 088 349, AFSL No 412 and IIROC.

The OANDA Group has multiple subsidiaries that are licensed to offer products to clients around the globe. The OANDA client contract depends on their country of residence. Each subsidiary provides different products via different platforms, so clients will experience OANDA differently based on their address. CFDs are not available to residents in the United States.

Client country Investor protection amount Regulator Legal entity
UK £85,000 Financial Conduct Authority (FCA) OANDA Europe Ltd
EU €20,000 Malta Financial Services Authority OANDA Europe Markets Ltd
US No protection Commodity Trading Futures Commission and National Futures Association OANDA Corporation
Canada CAD 1,000,000 Investment Industry Regulatory Organization of Canada (IIROC) OANDA (Canada) Corporation
Australia No protection Australian Securities and Investment Commission (ASIC) OANDA Australia Pty Ltd
Singapore No protection Monetary Authority of Singapore (MAS) OANDA Asia Pacific Pte Ltd
Japan No protection Financial Futures Association of Japan (FFAJ) OANDA Japan Co., Ltd.
Other countries No protection British Virgin Islands Financial Services Commission OANDA Global Markets Ltd

Extensive Review

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.


Top Quality Broker
Friendly trading conditions and top-tier regulations are the perfect combo when it comes to looking for the best broker. You might want to check here to experience trading with such a broker.

Account Information

Apart from the forex demo account, this broker offers OANDA. To successfully navigate your trading account, you also need to consider about leverage and minimum deposit. Talking about leverage in general, the maximum leverage offered by OANDA is up to 1: 20. Meanwhile, you can open an account with a starting capital of $0.

pin

Min Deposit

$0

pin

Max Leverage

1:20

pin

Spread

Fixed

pin

Commission

$-50/Mil commission for Core pricing

If you want to look for a more simple explanation regarding this broker's account type(s), take a look at the following chart:



πŸ’² Min Deposit $0

πŸ’‘ Min Position 0.00001 lot

πŸ”’ Spread Fixed

πŸ“‰ Scalping

πŸ€– Expert Advisors

πŸ’± Hedging

⚑ Automated trading

πŸ’Έ Commission -$50/Mil commission for Core pricing

Fees

Assets Fee level Fee terms
EURUSD Low The fees are built into the spread, 1 pip is the average spread cost during peak trading hours
GBPUSD Low The fees are built into the spread, 1.5 pips is the average spread cost during peak trading hours
S&P 500 CFD Low The fees are built into the spread, 0.3 points is the average spread cost during peak trading hours
Inactivity fee Low £10 per month after one year of inactivity

Instruments Traded

Besides lots of currency pair, OANDA also offers some instruments you would like to trade on, such as Forex, Gold & silver, CFD, Crypto, Stock, Indices, Commodities and etf for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.

As for OANDA account, OANDA specifically provides it with the following instruments and leverage:


Forex

Forex
1:20

Gold & silver

Gold & silver
1:20

Crypto

Crypto
1:20

Stock

Stock

Indices

Indices

Commodities

Commodities

etf

etf

Payment Methods

In OANDA, money can be transferred via various mediums so that you can deposit and withdraw comfortably.

Deposit

Deposit method Minimum deposit Average processing time Fees
Credit Cards None Immediate Your bank may charge you a fee
Debit Cards None Immediate Your bank may charge you a fee
PayPal None Up to one business day. eCheques will take one business day after being cleared by PayPal. A fee will be charged by PayPal when funds are deposited. Please contact PayPal for more information.
Internet banking via Faster Payments  None One to two business days Your bank may charge you a fee
BACS or internet banking via BACS None Two to three business days Your bank may charge you a fee
CHAPS payment None One to two business days Your bank may charge you a fee
SWIFT None Two to five business days Your bank may charge you a fee
SEPA Credit Transfer None Two to five business days Your bank may charge you a fee

 

Withdrawal

You can make withdrawals to your OANDA account using the following:

Withdrawal Options
Bank transfer βœ”οΈ
Credit/Debit card βœ”οΈ
Electronic wallet βœ”οΈ
Withdrawal Options Withdrawal fees
Credit/Debit card $0
Domestic bank withdrawal $20.0
International bank withdrawal $20.0
Electronic wallet PayPal is free for EUR, USD, and GBP currencies

Wire transfer : Wire Transfer is the most commonly used payment method. Nearly all brokers in the world provide this method on their service. The reason is wire transfer is basically traditional transfer between banks in the worldwide. So, this method is guaranteed for its safety. This really helps traders who avoid third-party payments or don't have credit cards.

Skrill : Mostly, all forex brokers provide Skrill as an online payment service option. Fast, easy, and safe transactions are the main reasons why traders using this method. Traders can use Skrill to fund their trading accounts with either payment cards, bank wire transfers, or directly from a Skrill e-wallet account.

Neteller : Like PayPal, Neteller is one of the most popular online payment services today. Due to this popularity, nearly all forex brokers accept Neteller as a payment method for their clients' fund deposit and withdrawal. Although the Neteller system is available almost all over the world, it remains particularly popular in Europe.

OANDA also provides payment with Visa, Mastercard, Credit/debit cards, Bank transfer and ACH deposits



Trading Platforms

Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device, anytime and anywhere you want. In addition, price chart is also usually provided with some analytical tools to help you analyze the price movement, so you can increase your profitabiliy by placing well-planned trades.

Hereby, OANDA offers you FxTrade App, MetaTrader 5, Oanda Platform and MetaTrader 4.

 
Virtual Trading (Demo)  βœ”οΈ
Proprietary Platform  βœ”οΈ
Desktop Platform (Windows)  βœ”οΈ
Web Platform  βœ”οΈ
Social Trading / Copy Trading  βœ”οΈ
MetaTrader 4 (MT4)  βœ”οΈ
MetaTrader 5 (MT5) βœ”οΈ
DupliTrade  ❌
ZuluTrade  βœ”οΈ
Charting - Indicators / Studies (Total)  81
Charting - Drawing Tools (Total)  431
Charting - Trade From Chart  βœ”οΈ
Watchlists - Total Fields  6

 

Research and Education

OANDA also provides excellent education and training materials for traders.

Broker
Beginner Course βœ”οΈ βœ”οΈ βœ”οΈ
Advanced Course βœ”οΈ βœ”οΈ βœ”οΈ

Customer Support

Do you have any question or find any trouble related to OANDA? If you do, you should reach OANDA's support to get the information that you need. Here is the detail of the broker's customer support:

Website Languages

English

Office Support

Email Support

Call Support

Chat Support



FAQ About OANDA

A good broker constitutes a good service for traders in terms of many criteria including trading instruments, deposits and withdrawals, as well as customer support. What is good for a certain trader does not necessarily mean the same thing to you. So the term "a good broker" can vary in meaning. You can decide for yourself if OANDA is a good broker for you or not by reviewing the criteria. In general, OANDA provides trading service in Forex , Gold & silver , CFD , Crypto , Stock, Indices, Commodities and etf. As for the payment methods, you can choose between Visa, Mastercard, ACH deposits, Bank transfer, Credit/debit cards, Wire transfer, Skrill and Neteller. The customer support is available via Email, Live chat, Phone and Web form.


The starting capital in OANDA is $0.


OANDA is regulated by CFTC/NFA 0325821, FCA 54257, FSA (Japan) 1571, FSC (BVI) SIBA/L/20/1130, Kanto Local Finance Bureau (Japan) 2137, MFSA 18, 12, 2020, MAS 200704926K, ASIC ABN 26 152 088 349, AFSL No 412 and IIROC. A regulated broker equals a more responsible trading environment. You can also expect a more guaranteed safety of funds as some of regulatory frameworks in the financial industry require a compensation scheme in case of unprecedented incidents that result in clients' financial losses.


OANDA is a brokerage company offering trading services for clients since 1996 with offices in United States, United Kingdom, Japan, British Virgin Islands, Malta, Singapore and Australia.



OANDA News
Kyla Yocelyn
OANDA announced a partnership with FC Barcelona Striker Robert Lewandowski to be its official Brand Ambassador.
Aila Bastian
Oanda acquiring a UK-based crypto exchange Coinpass. This is a strategic integration as both are legal companies. Oanda can give wider options of assets to trade to the clients.
Kyla Yocelyn
CySEC exposed a clone website under the PrimusForex brand and eight other broker domains against the popular platform OANDA TMS.
Tom Roscar
OANDA has appointed Rafal Slon as Managing Director for Australia, recognizing his expertise and leadership in the forex trading industry.
Aila Bastian
OANDA Japan raised the margin rate of AUD/JPY. The broker warns its clients about margin call risk.
Priela Gabrielle
Previously facilitating their clients to trade CFD on European blue-chip stocks, OANDA now provides them with US and UK-listed equities.
OANDA Articles
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Day trading is a strategy preferred by many retail traders for its multiple opportunities to earn profits in a day. Is the famous OANDA good for day trading?
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Like any other broker providing the best service for retail traders, OANDA offers a swap-free account with competitive features. What are they?
Aisha Amajida
There are numerous advantages in OANDA for beginners. Here are some of the most important aspects to prove it.
Oktavina Justine
IC Markets boasts a standard account with good execution and other appealing trading conditions. How is it compared to OANDA's standard account?
Diva Nadia
OANDA account opening is fully online and very straightforward. Read the following guide to start your journey in OANDA.
Diva Nadia
Not only trading on the go, OANDA mobile app could give access to various financial markets right from your phone.
Testimonials
Pakistan
Muhammad Ashraf
Feb 1 2023
 
Brokers is best for trading risk free. More
Singapore
Fara
Jul 8 2020
 
complex feature on this broker More
Pakistan
Marlynne
Account Number: (24587xxx)
May 18 2022
 
OANDA is the best broker I've ever know. More
Malaysia
Osvaldo Hernandez
Account Number: (64852xxx)
May 18 2022
 
My EA doesn't work very well after some time. So... More
Taiwan
Joshua Regelio
Account Number: (66548xxx)
May 18 2022
 
My friend recommend me to trade with OANDA. But it... More
Singapore
Claudia Gianlucca
Account Number: (63248xxx)
May 18 2022
 
I realize half on these commentaries are only half reliable.... More
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