For beginners. For advanced users. Topics we cover. The secret sauce. Oanda Review Réka H. Summary Fees Account opening Deposit and withdrawal Trading platform Markets and products Research Customer service Education Safety Bottom line. Oanda review summary Oanda is a US-based forex broker founded in Recommended for forex traders who value a user-friendly platform and great research tools.

See Best Alternative. Oanda pros and cons Oanda offers high-quality and easy-to-use trading platforms, and its research tools are also powerful, with numerous technical indicators and a great API offer.

Compare to other brokers. Our overall Oanda rating. Account opening. Deposit and withdrawal. Trading platform. Markets and products. Customer service. Best Oanda Alternative Visit broker Top 5 Brokers. Get your personalized toplist:. Find my broker. Oanda review Fees.

Oanda has low forex fees but average CFD fees. Withdrawal fees are low but not in all cases, while there's also a small inactivity fee. GBPUSD Low The fees are built into the spread, 1. Inactivity fee Low £10 per month after one year of inactivity How we ranked fees We ranked Oanda's fee levels as low, average or high based on how they compare to those of all reviewed brokers. Trading fees occur when you trade. These can be commissions , spreads , financing rates and conversion fees. Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

To have a clear overview of Oanda, let's start with trading fees. Oanda trading fees Oanda's trading fees are low. We picked popular instruments within each asset class usually offered by forex brokers: Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP Stock index CFDs: SPX and EUSTX50 A typical trade means buying the instrument, holding it for one week and then selling it.

Oanda leverage We calculated with the following leverages: for forex for stock index CFDs The resulting catch-all fees include spreads, commissions and financing costs for all brokers. Oanda interest rates financing rates For positions held overnight, you have to pay interest. Forex fees Oanda charges low forex fees , matching its closest competitors in the case of most forex pairs.

Oanda minimum lot size At Oanda, the smallest available lot size is micro lots , which is 1, units of a given currency. Check the margin requirements at: OANDA Europe LTD UK OANDA Europe Markets EU - Professional accounts only OANDA Corporation US OANDA Australia Pty OANDA Asia Pacific Pte Ltd See more CFD fees Oanda has average stock index CFD fees.

Oanda review Account opening. Oanda's account opening is straightforward and no initial minimum deposit is required. Where do you live? Lucia St. Virgin Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Venezuela Vietnam Wallis and Futuna West Bank Western Sahara Yemen Zambia Zimbabwe. Our best alternatives to Oanda are: The highest ranking competitors are: Pepperstone full review FXCM full review Forex.

com full review Tickmill full review. Lost finding a broker? First name. Email address. Sign me up. Oanda review Deposit and withdrawal. Oanda charges no deposit and account fees. Oanda Pepperstone FXCM Number of base currencies 9 9 4 Oanda account base currencies EUR USD GBP AUD CAD CHF HKD JPY SGD Why does this matter? Compare digital banks Deposit fees and options Oanda minimum deposit Oanda charges no deposit fees. Deposit options by region Option UK EU US Canada Australia Other Bank transfer Credit card Debit card Electronic wallets.

Oanda review Web trading platform. Oanda's web trading platform is user-friendly and safe with good customizability. On the downside, you can't set price alerts. Oanda's web trading platform is available in several languages: Chinese English French German Italian Japanese Portuguese Russian Spanish Look and feel Oanda's own trading platform is user-friendly and well-designed.

Oanda review Mobile trading platform. Oanda's mobile platform is similar to the web trading platform in functionality, and as a plus, you can also set price alerts. The platform is available in the following languages: Arabic Chinese German English Japanese Russian Look and feel The Oanda mobile trading platform is user-friendly. Oanda review Desktop trading platform. Oanda's desktop platform mimics the web platform in terms of functionality, meaning lots of user-friendly functions but no price alerts.

Oanda review Markets and products. At Oanda, you can trade only forex and CFDs. A decent offer of forex, commodity, stock index and bond CFDs is offset by the complete absence of stock CFDs.

Oanda product selection Oanda Pepperstone FXCM Currency pairs 69 62 45 Stock index CFDs 16 25 15 Stock CFDs - 1, ETF CFDs - - Commodity CFDs 31 32 12 Bond CFDs 6 - 1 Futures CFDs - - - Cryptos 2 21 7 The UK's Financial Conduct Authority FCA banned the sale of crypto-derivatives to UK retail consumers as of January Oanda review Research. Oanda has a wide range of research tools, including news, technical analysis and an API.

However, these features are poorly organized on the site. Here's a list of Oanda's main tools: MarketPulse: Publicly available analyses written by Oanda's own research team. It also includes an economic calendar, videos and podcasts. News: MarketPulse articles plus a feed by Dow Jones Newswires, a prominent third-party information provider. Oanda Labs: Tools developed by Oanda's engineers.

These tools are usually based on technical analysis, e. candlestick pattern analysis. Technical Analysis: Many technical analysis tools powered by Autochartist. Algo Lab: A powerful tool for API trading. Fundamental data Oanda provides fundamental data through its built-in application 'Economic Analysis'. Charting Oanda has great charting tools. Oanda review Customer service. You can reach Oanda's customer service through several channels, but availability could be improved.

Nevertheless, they wrap up the live chat quite quickly if you don't respond right away. A good feature though is that you can export message texts. The chatbot is unlikely to answer your questions directly, but it does a reasonably good job of detecting the subject of your query and pointing you to the relevant FAQ section of the website.

On the phone, relevance could be improved. We didn't always get a fully satisfactory answer to our question we wanted to get a good overview of fees. Response time is quite good , around minutes. Email support gave relevant answers and their response was fast replied in less than 4 hours. Oanda forums and support Oanda's Forex forum was unfortunately closed down in September Oanda review Education. Oanda offers articles, videos and webinars on topics ranging from the basics to expert trading, but this wide selection of educational materials is not always structured well.

Oanda review Safety. Oanda is regulated by top-tier authorities, but it doesn't have a banking license and is not listed on a stock exchange. Is Oanda safe? To be certain, we highly advise that you check two facts: how you are protected if something goes wrong what the background of the broker is How you are protected Oanda has seven legal entities, each serving clients from different parts of the world.

Background Oanda is based in the USA and was founded in Oanda review Bottom line. Oanda review FAQ. What are Oanda's fees? Is this broker good for beginners? Is Oanda legit or scam? What is the minimum deposit? How to withdraw money from Oanda? How to start your Oanda account?

How good is Oanda's trading app? Can I trade options and silver on Oanda? Who are Oanda's competitors and alternatives? Author of this review. Author of this review Réka has attended the International Business and Economics bachelor program at the Corvinus University of Budapest. She's eager to help investors find the best investment providers, through writing extensive reviews. On a more personal level she wants to develop her skills and grow professionally on this field.

Réka Hidas Junior Broker Analyst. I stayed in Oanda for about a year. Oanda's trading platform is often frozen. I lost the connection to my trading account during the transaction.

Even though I can successfully access other websites and log in email, I have encountered connection problems. Rayn M. Opening an overseas account in OANDA can be painful, but overcoming these obstacles, you will know it's the best broker. Their platform is not such easy or as powerful as I want, but their response time is very short. In case of trouble, their chat room is always ready, fast and reliable.

The spread is really good. In the end, I gave OANDA 4 stars just because they lack a programmable platform. Robert Dowl. My experience in trading with Oanda is very comfortable. There are many features on the website, and if you have a real account, you can access a huge database of historical prices. I use automated trading strategies and need to back-test the history, so I need high-quality data, which can be found on the website.

Daniel Richards. I think Oanda is the best, top and greatest foreign exchange broker in the world. I think it's only suitable for serious traders. Highly recommend. Account Type Comparison 8. Trading Platforms MT4. Min Deposit 1. Max Leverage 1 : Min Trade Volume 0. Commission 0 USD. Spread Type Variable Spread. Deposit and Withdrawal 8. Company and Service 8. Headquarters Address King Street West 2nd Floor Box 60 Toronto ON M5V 1J9. Founded Credit Profile No information.

MT4 Windows, iOS, Android. No Data. Website Language Chinese, English, French, German, Italian, Japanese, Korean, Portuguese, Russian, Spanish, Vietnamese.

Customer Service By Phone, Email, Live Chat, Facebook, Twitter, Instagram, Youtube. Supported Language Chinese, English, French, German, Italian, Japanese, Korean, Portuguese, Russian, Spanish, Vietnamese.

Broker News Clients Reviews: What Are Investors' Opinions of OANDA? Jul 12, Sometimes, multi-regulated brokers like OANDA fail to meet clientele satisfaction. CFTC Releases Data: Four of the Five Brokers Saw Retail FX Deposits Drop in December Feb 18, The Commodity Futures Trading Commission CFTC has published its monthly report for December , revealing a month-on-month decline of 2. OANDA Partners with Kaiko to Build Auditable Pricing for Digital Assets Jan 28, Kaiko, an industry leader in digital assets data for enterprises, is joining forces with OANDA, a global leader in online multi-asset trading services and currency data and analytics, to build auditable pricing for digital assets that meet financial compliance requirements.

Related Complaints Ask a Question. Is OANDA trustworthy? Greg Serbia. ANSWER OANDA is a trademark of OANDA Corporation, a company has subsidies regulated and authorised by several regulatory bodies.

OANDA Canada Corporation ULC is regulated by the Investment Industry Regulatory Organization of Canada IIROC. OANDA Australia Pty Ltd is regulated by the Australian Securities and Investments Commission ASIC under license number: OANDA Corporation is a authorised by the US National Futures Association NFA under an NFA ID: OANDA Europe Limited is regulated by the Financial Conduct Authority FCA with reference number: Apart from the email, they also offer a technical outlook for the 48 hours on the forex market.

You can even initiate the trading activity on mobile apps too. They have mobile apps for all the popular operating systems. You will get all the features available on a desktop or web platform. So, the apps work with iOS, Android, and even with windows phones or tablets. Therefore, you can experience trading from anywhere at any time. With advanced technology, cybercrime has increased significantly. They have a highly secured server that keeps the personal data and transaction security. They ensure security through high encryption and sophisticated technology.

But the business hours are from 1 PM ET to 6 PM ET Sunday to Friday via live chat. However, phone support is not available all the time. Nevertheless, as per different Oanda broker reviews, the customer service representatives are knowledgeable as well as courteous.

They offer different educational videos as well as articles for all types of investors regardless of the experience. Apart from this, live webinars on various subjects also work on spreading knowledge to the traders.

However, you may find issues watching the videos depending on the platforms, and some information might be outdated too. Oanda offers a wide range of economic analysis tools, advanced level data analysis, real-time news feeds, etc. So, the complete analytical toolset is good enough for any traders to do their research properly before they jump for any strategy. Furthermore, highly experienced traders can use the volatility analysis feature and pattern matching engines.

The membership from all those top forex regulatory authorities ensures that Oanda is legit for all types of traders. Moreover, we did not find any Oanda review that has any scam report on this broker. Oanda Forex Broker Review: Transaction Methods. As per the Oanda review , the broker offers a variety of transaction methods for deposits and withdrawals.

You can make the transaction through debit or credit card, bank transfer, Skrill, and Neteller. However, depending on the location, you can have some other methods too. For instance, in China, it offers Bpay and China UnionPay. Visiting their website will enlighten you with some other transaction methods. Oanda can charge for the withdrawal. However, it depends. Besides, you should also keep in mind that there can be any intermediary charges too.

There is no Oanda minimum withdrawal for the traders. Oanda inactivity fee may incur if there is no trading in your account in the 12 months period. However, if there is any inactivity position in your account, there will not be any inactivity fees.

Besides, the inactivity fee will not make your account negative. To avoid the inactivity fees, you can do one of the following:. Oanda reviews suggest that it is a widely popular broker in the USA as well as other parts of the world. Its excellent desktop trading platform enables the traders to trade according to their strategy, while the mobile platform lets the investors trade from anywhere at their convenience.

So, if you are looking for the best forex broker , Oanda can be your perfect choice without any doubt. Besides, the Oanda rating has a 91 trust score , which makes them a trustworthy broker by the traders.

Top Rated Online Best Forex Brokers Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. Open Account. Location: US. by Best FX Brokers Review. A Brief History Oanda is one of the early trading brokers in the s, which used to offer spot forex trading. Trade Cryptocurrencies Cryptocurrency is a digital financial asset designed to work as a medium of exchange that uses cryptography to secure its transactions, control the creation of additional units, and verify the transfer of assets.

Oanda Account Types From Oanda review, we get to know that it offers three main types of accounts: standard, core, and swap-free accounts. Oanda Demo Account Review Apart from the three accounts, traders may also open a demo account to practice or check the broker.

Oanda Min Deposit From the beginning, there were no Oanda forex minimum deposit requirements, and still, they stuck to it. Oanda Spreads Review If you are looking for the Oanda broker review for its spreads and commissions, it remains competitive regardless of your location. Oanda Trading Platform Review Oanda offers trading services via two prominent FX platforms, MetaTrader 4 and MetaTrader 5.

Oanda Review: Safety and Security With advanced technology, cybercrime has increased significantly. Oanda Forex Broker Review: Education They offer different educational videos as well as articles for all types of investors regardless of the experience.

Written by Steven Hatzakis Edited by John Bringans Fact-checked by Joey Shadeck. A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering. The ForexBrokers. com annual forex broker review six years running is the most cited in the industry.

With over 50, words of research across the site, we spend hundreds of hours testing forex brokers each year. Here's how we test. OANDA is considered low-risk, with an overall Trust Score of 92 out of OANDA is not publicly traded, does not operate a bank, and is authorised by six tier-1 regulators high trust , zero tier-2 regulators average trust , and one tier-3 regulator low trust. Learn more about Trust Score. The range of available markets at OANDA will vary slightly, depending on which of its entities regulates your account.

CFDs are not available in the U. The following table summarizes the different investment products available to OANDA clients. Cryptocurrency: Cryptocurrency trading is available at OANDA through CFDs, but not available through trading the underlying asset e.

buying Bitcoin. Note: Crypto CFDs are not available to retail traders from any broker's U. entity, nor to U. residents except for Professional clients.

com and FxPro , while the minimum spread cost or lowest advertised rate may be slightly higher than those firms that list a sub-pip spread less than 1. For example, the average non-core pricing at OANDA was 1. Once you factor in the commission-equivalent of 1 pip 0. Micro lots: In most cases, the smallest contract size for trading forex is one micro lot. However, OANDA brings this minimum trade size down by three orders of magnitude — to 1 unit or 0.

Transparency: As part of its push for greater pricing transparency, OANDA continually publishes a trailing average of its spread across nearly all time frames. However, because it does not publish a number that reflects the average spread over a fixed period — such as one day or one month — it is difficult to make precise comparisons.

OANDA's flagship fxTrade mobile app is easy to use and provides quality market research and excellent charting features, ranking among the best brokers in this category in Apps overview: OANDA offers the popular MetaTrader 4 MT4 mobile app developed by MetaQuotes Software Corporation, alongside its own proprietary fxTrade mobile app.

Ease of use: Opening a chart on the fxTrade app is as easy as clicking the graph icon at the bottom of the watchlist. Whether setting up a trade or adding a price alert, I found the overall layout to be straightforward and easy to use.

Beyond its intuitive design, charting with the fxTrade app is balanced with features such as research from Autochartist and news headlines. A neat feature that stood out to me was the seamless transition to the trade ticket window from within the charts. Users can quickly enter their orders from the chart, then adjust their stop-loss and limit order levels with a simple drag and drop function. Lastly, adding educational and market analysis videos would be a logical and helpful next step in the evolution of the fxTrade app.

I also appreciated that the web-based and desktop versions of fxTrade are identical to each other, which makes swapping between versions simple and painless.

However, many of the integrated features in the platform will trigger a new browser window to open — even when you are on the desktop version. Other brokers integrate such features directly into the platform, which allows you to stay focused without a distracting flurry of new windows popping into your screen. The Seer Trading Platform, for example, supports algorithmic trading system development — including back-testing and forward-testing automated trading systems.

OANDA also supports trading connectivity with multiple charting platforms such as TradingView, NinjaTrader, MultiCharts, and MotiveWave. Account management: OANDA combines several services within its online account management portal, making it easy to transfer money between accounts and access your statements.

OANDA provides forex and CFD traders everything they need to successfully navigate the markets, with multiple daily articles, as well as podcasts and research tools.

One minor annoyance is that many of the research resources from the desktop and web platform open in a new browser, rather than being directly integrated within the platform. OANDA also provides fewer video updates than the leaders in this category, such as Saxo Bank and IG. Research overview: OANDA offers a broad range of research for forex traders. Finally, OANDA produces a Market Insights series with daily analysis updates.

Premium content: OANDA offers Dow Jones Select, and third-party technical analysis software is available from MotiveWave and MultiCharts. OANDA balances its decent offering of written educational material with a series of webinars conducted by its staff. However, it lacks an extensive range of educational videos.

Expanding its range of videos and further organizing its existing content would elevate OANDA's educational offering, which does not currently measure up to education leaders such as IG and AvaTrade. Each chapter comes with several lessons, but many of the accompanying videos are just platform tutorials — not financial market education.

Adding the ability to filter educational resources by experience level would benefit traders of all competencies. The best brokers in this category have a comprehensive offering of both videos and articles. It also delivers robust market research content and an excellent mobile app. OANDA's U. brand holds regulatory status in the U. For , OANDA was again Best in Class in the Ease of Use category, thanks to its straightforward web and mobile trading apps. All in all, OANDA offers something for casual investors, while also serving sophisticated traders who prefer to connect via API or use automated trading systems on MT4.

Furthermore, unlike most brokers that offer micro contracts 1, units as the smallest trade size, OANDA allows you to trade as little as 1 unit of currency when trading forex. This makes OANDA a great option for those who want to test a trading strategy with a small deposit and not be constrained by the minimum trade size.

OANDA does rank highly for its ease-of-use factor, making its fxTrade platform and client dashboard good for beginners, especially when compared to the complex trading software available from other brokers. In addition, OANDA has a decent offering of client education, alongside excellent research. OANDA is regulated in numerous Tier-1 jurisdictions including in the U. Founded in , OANDA operates across eight global financial centers, serving clients in over countries through its entities licensed in six major regulatory jurisdictions, including the U.

The OANDA Group has multiple subsidiaries who are licensed to offer products to clients around the globe. The OANDA subsidiary with whom a client contracts depends on their country of residence. Each subsidiary provides different products via different platforms, so clients will experience OANDA differently depending on their country of residence.

For our Forex Broker Review we assessed, rated, and ranked 39 international forex brokers over a three-month time period resulting in over 50, words of published research. Each broker was graded on different variables, including our proprietary Trust Score algorithm. This innovative scoring system ranks the level of trustworthiness for each broker based on factors such as licenses, regulation and corporate structure. Read about Trust Score here. As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy.

Ultimately, our rigorous data validation process yields an error rate of less than. Learn more about how we test. There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks. Was this helpful? Yes or No. Steven Hatzakis is the Global Director of Research for ForexBrokers.

Steven previously served as an Editor for Finance Magnates, where he authored over 1, published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U. as a Commodity Trading Advisor CTA. John Bringans is the Senior Editor of ForexBrokers.

An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers.

He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.

com is committed to the highest ethical standards and reviews services independently. Learn How We Make Money. Home Reviews. Published January 10, Last modified August 26, star star star star star Overall. Excellent quality market research articles and daily analysis updates can be found in the Market Pulse hub. OANDA produces its own podcast series, "Market Insight". The fxTrade mobile app has a great balance of features and ranks highly for ease of use. OANDA's offering of research tools, news, and market analysis is excellent.

TradingView platform offered alongside several VPS services for MT4 hosting. OANDA provides multiple options for algorithmic trading, including via API as part of its Algo Labs offering. OANDA's fxTrade desktop and web trading platform is good — not great — and trails platform leaders such as IG and Saxo Bank.

As per the Oanda forex broker review , the company uses both historical average and current spreads. They have the regulations from the following countries. Oanda offers two-step login , which is safer than using only a username and a password. Recommended for forex traders who value a user-friendly platform and great research tools. Account Types. In general, Oanda charges spread costs instead of commissions per trade. Nevertheless, licenses from major regulatory bodies make Oanda legit broker.

Categories:

• Forex
• Binary Options
• Forex Bitcoin
• Forex Brokers
• Binary Options online