0.00
Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.

OANDA Review

4.51
28 reviews
PAYMENT SYSTEMS
  • Deposit
  • Withdrawal

OANDA general information

Founded in: 1996 year
Headquarters:
USA
Offices in the country:
Australia, United Kingdom, Canada, Singapore, USA, Japan
Minimum Deposit: 0 $
Website: www.oanda.com
Website languages:
English, Spanish, Italian, Chinese, Deutsch, Portuguese, French, Japanese
Deposit currency:
USD, EUR, JPY, GBP, AUD, CHF, CAD, HKD, SGD
Support languages:
English, Spanish, Italian, Chinese, Deutsch, Portuguese, French, Japanese
Regulated by:
ASIC (Australia) license №AFSL 412981
FCA (United Kingdom) license № 542574
IIROC (Canada)
CNMV (Spain)
NFA (USA) license № 0325821
FSA (Japan) license № 1571.
Mobile trading: iOS, Android
Types of offered accounts:
Unlimited Demo Accounts, Standard Accounts
Affiliate program: Not

OANDA Forex broker description

Oanda is a United States-based forex trader that has gained popularity in recent times owing to its service provision. It was formed in 1997 in New York City with the aim of providing exemplary forex trading conditions. Over the two decades that it has been in operation, it has managed to surpass this aim and acquired many clients around the world who appreciate its services. This has prompted Oanda to expand to other territories and states to offer its services in ear proximity to its clients.

Its mode of operation has subsequently earned it superb credence in the forex sector as well as awards pertaining to the same.

Trading Accounts

To be able to execute trades on the various trading instruments that Oanda offers, you will be required to open a trading account. Oanda has two types of trading accounts which have been distinctively designed to meet individual trader needs. These account types are the demo account and the standard trader account.

The Demo Account

The demo account is a specially designed trading account, that as its name suggests, is meant for demonstrations and tutorials. It is meant to train inexperienced traders who have no idea of the forex trading concept, more so in execution of the trades.it is free to open and requires no deposits as it will utilize virtual funds to help the trader execute trades in a simulated environment.

The Standard Account

The standard account is an account type that is suitable for both novice and experienced traders. It has the following features.

  1. Base currencies accepted are the United States dollar, the Japanese yen, the Canadian dollar, and the Australian dollar among other units.
  2. Access to a vast range of trading instruments from CFD's, metals to energy sources. Market type of execution.
  3. Floating spread type.
  4. Allows for scalping.

About Oanda and the Security Of Funds.

Oanda as earlier indicated was founded almost two decades ago and it has managed to be a very great name in the forex industry due to its utter resiliency. It has managed to spread its tentacles to other territories. With this, it has also integrated its site to accommodate various languages for its accessibility to all its customers.

It has made great strides mostly due to its great customer service. The services are provided in great trading conditions as well as its great customer service. It has invested in among the best staff who are highly qualified and ensure that the site is up to standards. They are also dedicated to offering the best customer service and are available round the clock to answer the various arising customer queries.

It has set base in many countries around the globe such as the United Kingdom, Canada, Singapore, Japan, and Australia apart from its headquarters in New York City. In these various territories it has proved its legitimacy and credibility by being compliant by the standards set by the various regulatory authorities in these countries. Among the licenses that Oanda has received are as follows.

  1. It has a license from United States’ commodity futures trading commission that allows it to operate in the United States.
  2. It is licensed to operate in the United Kingdom by the financial conduct authority (FCA).
  3. Authorized to run its operations in Singapore by the monetary authority of Singapore (MAS).
  4. It has a license from Australia’s Australian securities and services commission (ASIC).
  5. It is authorized to operate in Japan by the local financial bureau.
  6. It is also a member of bodies such as the national futures association (NFA) of the United States.
  7. It has a license from the Canadian investment industry regulatory organization of Canada that allows it to operate in Canada.

Among the rules set by these regulatory bodies, is the one which safeguards clients’ funds. Oanda is compliant with these laws and has put up the following measures to ensure so.

  1. Using segregated bank accounts to separate clients’ funds from the company’s funds.
  2. Keeping the clients’ funds with credible and trusted banks.

 

Trading Conditions

Minimum Initial Deposit

Oanda does not have a minimum initial deposit.

Spreads

Floating spreads starting from 1.3 pips.

Commissions

No commissions are charged at all.

 

Trading Platforms

In order to enhance its clients’ trading experience, Oanda has invested in some of the best trading platforms. These trading platforms are advanced technologically and come with very excellent features t boot. The trading platforms include the Meta trader4 trading platform, the desktop trading platform and the mobile trading platform.

The Meta Trader4 Trading Platform

Among the best trading platforms, the Meta trader4 is beloved as a trading platform due to its many features which include:

  1. Advanced charting and analysis tools.
  2. Good statistical layout.
  3. Customizable indicators.
  4. It has a user-friendly interface.

The Desktop Trading Platform

The desktop trading platform comes as a desktop software that you will download and install to your personal computer. Among its many features include:

  1. Compatibility with most desktop operating systems.
  2. Comes with advanced charting and analysis tools.
  3. Has a vast range of drawing tools and customizable indicators.
  4. It is lightweight hence it will not take much of your device’s storage space.
  5. It is easy to use courtesy of its user-friendly interface.

The Mobile Trading Platform

The mobile trading platform is the downloadable application that will allow you to trade from your mobile device. Its features are as follows.

  1. It is very easy to download and launch from its download site.
  2. It is a lightweight application hence won’t take much of your phone’s storage space.
  3. Has advanced charting and drawing tools.
  4. It is easy to use.

Promotions

Oanda offers promotions and bonuses occasionally but at the moment it doesn’t seem to have any running.

Withdrawals And Deposits

Withdrawals and deposits are easy to initiate and Oanda accepts a host of transaction modes for this. Among the accepted modes include Visa, MasterCard, Neteller, Skrill, and maestro. It also accepts bank and wire transfers. A little fee may be charged on these transactions and it takes a very short time for them to be effected.

Briefly about Oanda

When looking at Oanda customer reviews and comments, you can’t help but notice how lucrative this trader is. As a client signed up with this trader, you are assured of a superb service and exemplary trading conditions such as the no minimum deposit. This is a highly recommendable site for those who want to enjoy the services of a credible forex trader.

Trading accounts of OANDA

  • Exceptional Execution
Trading platforms: MetaTrader 4, Oanda FxTrade, Meta Trader 4 Mobile
Minimum Deposit : 0 $
Deposit currency :
USD - US Dollar
EUR - Euro
JPY - Japanese Yen
GBP - British Pound
AUD - Australian Dollar
CHF - Swiss Franc
CAD - Canadian Dollar
HKD - Hong Kong Dollar
SGD - Singapore Dollar
Trading instruments:
Forex1:100
Number of currency pairs: 72
  • AUD/CAD
  • AUD/CHF
  • AUD/HKD
  • AUD/JPY
  • AUD/NZD
  • AUD/SGD
  • AUD/USD
  • CAD/CHF
  • CAD/HKD
  • CAD/JPY
  • CAD/SGD
  • CAD/USD
  • CHF/HKD
  • CHF/JPY
  • CHF/ZAR
  • EUR/AUD
  • EUR/CAD
  • EUR/CHF
  • EUR/CZK
  • EUR/DKK
  • EUR/GBP
  • EUR/HKD
  • EUR/HUF
  • EUR/JPY
  • EUR/NOK
  • EUR/NZD
  • EUR/PLN
  • EUR/SEK
  • EUR/SGD
  • EUR/TRY
  • EUR/USD
  • EUR/ZAR
  • GBP/AUD
  • GBP/CAD
  • GBP/CHF
  • GBP/HKD
  • GBP/JPY
  • GBP/NZD
  • GBP/PLN
  • GBP/SGD
  • GBP/USD
  • GBP/ZAR
  • HKD/JPY
  • NZD/CAD
  • NZD/CHF
  • NZD/HKD
  • NZD/JPY
  • NZD/SGD
  • NZD/USD
  • SGD/CHF
  • SGD/HKD
  • SGD/JPY
  • TRY/JPY
  • USD/CAD
  • USD/CHF
  • USD/CNH
  • USD/CZK
  • USD/DKK
  • USD/HKD
  • USD/HUF
  • USD/INR
  • USD/JPY
  • USD/MXN
  • USD/NOK
  • USD/PLN
  • USD/SAR
  • USD/SEK
  • USD/SGD
  • USD/THB
  • USD/TRY
  • USD/ZAR
  • ZAR/JPY
CFD's1:100
Metals1:100
  • Gold
  • Silver
Energy sources1:100
  • Oil
  • Gas
Execution type:
Market Execution
Swap Free:
Not
VIP Account:
Not
Spread type:
Floating
Decimal places:
4 characters
Phone trading:
Not

Contacts of OANDA

Headquarters
Соединённые Штаты Америки , Нью-ЙоркWest 36th Street, 315
show on the map
+1-704-255-6226Телефон штаб-квартиры
Представительство
Канада , ТоронтоKing Street West, 370
show on the map
+1-416-593-9436Локальный телефон
Представительство
Великобритания , ЛондонOld Broad St, 25
show on the map
+44-20-3151-2050Локальный телефон
Представительство
Япония , ТокиоKojimachi Chiyoda-ku, 3-6 4F
show on the map
0120-923-213Локальный телефон
Представительство
Сингапур , СингапурCollyer Quay, 50
show on the map
+65-6579-8289Локальный телефон
Представительство
Австралия , СиднейGeorge Street, 225
show on the map
+61 2 8046 6258Локальный телефон

Recent customer reviews of OANDA

Sam Wilde 28 June 2020

Advantages: .

Disadvantages: scam

Comment: I will advice any trader to be careful when choosing a broker to invest with by always making sure they are regulated. I invested with a broker that made withdrawal impossible and there was nothing i could do until i contacted the agent Mr Bart Kasch who helped me recover my money. It felt satisfying to finally have my investment back, you can reach him at BartKasch AT Affiliaterecovery DOT com if you need help

Comment
Add a COMMENT
Helen Connor 28 June 2020

Advantages: Got my money back

Disadvantages: nil

Comment: Simply put if you don’t have the time or the experience to file a claim and pursue the entire case against your fake forex or binary broker yourself, try outsourcing it to a specialist company who will use their knowledge, expertise and its processes to recover your money. A company with a good level of success in recovering funds from binary brokers is OXOMARSECURITY,ORG They have specialists who deal exclusively with fraudulent transactions made by binary brokers. Based on experience they know how to proceed with a claim and what is most effective approach. I have hired them as well and they did not disappoint me. Hats off

Comment
Add a COMMENT
Vlad 18 June 2020

Advantages: none

Disadvantages: stop loss hunter

Comment: Everything looked right in the beginning with Oanda, but when I started making profits, strange things happened. I’ve read some reviews about Oanda’s stop loss hunting, but I shrugged it off. But I experienced it myself. I was lucky that I made only a small deposit. I closed my account last month and switched to eToro.

Comment
Add a COMMENT

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Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.