All Customer Reviews & Comments about OANDA Forex broker
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.
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
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