All Customer Reviews & Comments about OANDA Forex broker
Advantages: Great Trading Platfrom
Disadvantages: Sudden spike up 100 pips for GbpNzd
Comment: I was trading Gbp/Nzd on 30th Sep, I checked the trade before hitting the bed, it was 70+ pips in profit, and i let it run to the planned TP. I woke up middle of night to go for leak, I checked the trade and was surprised that I was stopped out at 1.96490. There were no major news that triggered the spike up of Gbpnzd price. I checked other brokers and Marketwatch, the average daily high for Gbpnzd is between 1.96123 - 1.9616. I checked my trade history, the Gbpnzd trade is closed at 1.96689, which even ridiculous. I contacted Oanda customer service, to log an enquiry. The client experience team got back to the next day and explained that, "I have investigated your concerns and my findings on this matter are explained below. We have reviewed this, and can confirm that the price was valid and in line with market at 2 pm EST (7 pm UTC+1) Please find below a chart from Bloomberg, an independent third party ---unable to view the chart---- Here is the comparison of our Liquidity Provider's who were quoting the price at the time." The sudden spike of price for Gbpnzd also happened on 21st June 2021. Is it right for Oanda to do this?
Advantages: There were several reasons for opening an account. There are no restrictions on the minimum deposit. The broker allowed opening deals on weekends using their own trading terminal in java. At the time, it seemed to me a great advantage, given the possible appearance of strong news on non-working days.
Disadvantages: The verification was quite complicated and took several weeks.
Comment: Oanda, in general, is designed for large customers, and is also one of the largest companies in the world. I would highly recommend it.
Advantages: Got my money back
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
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.
Advantages: quick withdrawal, fast execution
Disadvantages: server crashes
Comment: I had been a client of Oanda for 3 years, and the first 2 years were my better days as a Forex trader, mainly because I had such an incredible experience with this company - fast execution of trades, innovative trading tools, quick process of withdrawals, and professional customer support. But my last year with them was just terrible. I got disconnected to their servers a lot of times, even during non-volatile hours. Oanda wouldn’t even care to send notice when they’re going under maintenance. This had resulted in software issues and server crashes. Oanda would’ve been the best broker I had ever come trade with, they had gone complacent.
Advantages: Good overall
Disadvantages: slow support
Comment: My experience with Oanda was just short, 4 months. I didn’t leave because i had a lot of awful experience with this broker, it’s just that I wanted to focus trading with my primary broker. Anyway, Oanda to me is a fair, good broker. I never had issues funding my account, well this isn’t really a problem with any broker lol. Withdrawals were also not a problem, although there were a few times where I had to flood their support team with too many emails cos of withdrawal delays. But in the end, I got my money. Oh let me also mention that their support could be a bit slow in responding to queries, like when I wanted to double check a slippage issue. Their support was only able to settle it after 6 days. So overall, Oanda is good, but this broker should improve their support.
Advantages: No minimum deposit or minimum trade amount
Disadvantages: long time cashout
Comment: Oanda is my top rated-forex broker. It has the best platform, both in terms of its ease of use and in the breadth of the tools it provides. It also offers the most currency pairs, which gives you an opportunity to trade in exotic pairs that have the potential for high returns. It is also a good platform for trading other investment types and may be a good choice if you want to make non-forex investments.
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Advantages: stable payments, teaching tools
Disadvantages: wide spreads
Comment: I have been trading for over a year, so far so good. I do not risk much to send. maximum of 1k. But spreads too wide
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Advantages: Been around over a decade, teaching tools, social updates
Disadvantages: Low leverage
Comment: Oanda is a good broker and it has been active since 1999. I chose them because no fraudulent broker can survive that long in business, and so far I was right. Everything about Oanda trading is effective and efficient, making them the best broker. I hate that I can't get leverage above 50:1, but in a way that also makes sure I don't lose too much money, kinda like an imposed safety net. Even with low leverage I don't want to change because I only see bigger complains about the other brokers, happy to stay where I am
Advantages: Good trading platform, wide range of products
Disadvantages: Wide spreads
Comment: As a US citizen, I really didn't have too many options, but still I find Oanda to have outdone themselves. They are a trusted brand with plenty of satisfied customers, me being one of them. On the side of trading, I have no problems at all because execution is very fast with minimal slippage even when there is a news announcement. A lot of instruments are also available to trade, I was surprised they even have bonds, but that is not for me, maybe someone with more patience can try that. Apart from the trading, finance is also commendable because I have made deposits and withdrawals a couple of times with no problems at all. My negative issues with the broker is spreads and costs. Spreads are wider than those you find on offshore brokers. I checked XM.com and Oanda does have much wider spreads, and these get worse when volatility is high. Then you need to trade bigger lots on CFDs like shares and metals, which is also higher compared to XM. BTW I make my comparisons a lot with XM because it's listed here as the top broker. However, these higher costs, I believe, are worth the safety of my money, so I would still recommend Oanda