Oanda Review

4.2

 4.2/5

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with OANDA TMS Brokers S.A. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Oanda

Highlights

Highlights of OANDA

Established History: Founded in 1996, OANDA has over 25 years of experience in the forex and CFD market.
Global Presence: OANDA operates globally with multiple regulatory licenses, ensuring a broad international client base.
Regulatory Compliance: OANDA is regulated by several top-tier authorities, including the FCA (UK), CFTC (USA), ASIC (Australia), and more.
Trading Platform Variety: OANDA offers OANDA Trade web, OANDA Trade desktop, MetaTrader 4, and the OANDA mobile app, catering to different trading preferences.
Advanced Features: OANDA provides advanced trading tools with a solid API for algo traders, robust research materials, and educational resources.
Comprehensive Educational Resources: OANDA supports traders with a range of educational materials, including webinars, tutorials, and in-depth market analysis.

About

History: Since its inception in 1996, OANDA has established itself as a leading forex and CFD broker, known for its reliable and innovative trading environment.
Domicile: The company is headquartered in New York, with offices across the globe.
Ownership: OANDA is a privately held entity with multiple operating entities regulated across different regions.

Rating

4.2

 4.2/5

Review By

Brendan Walsh

Seasoned macro trader, managed billions from the Credit Crunch to COVID-19 and everything in between. Traded most assets you’ve heard of and a few you haven’t, and still alive to tell the tale. A student of history, markets, and psychology and a lover of risk and weirdness.

Overview

OANDA is a multi-asset broker offering a wide range of trading instruments depending on your location, including forex, stocks and cryptocurrencies. The broker emphasizes client satisfaction through competitive trading conditions, advanced research tools, and various account types tailored to different trading needs.

Category	Details
Tradeable Assets	Forex, Cryptocurrencies, Stocks
Min Deposit	$0
Forex Majors Spread	From 1.57 pips (EUR/USD)
Regulators	FCA, CFTC, ASIC, IIROC, MAS, FFAJ, MFSA, FSC
Trading Platforms	OANDA Trade web, OANDA Trade desktop, MetaTrader 4, OANDA mobile app
Funding Methods	Bank transfer, Credit/Debit Card, E-wallets
Currency Pairs	71 pairs including majors, minors, and exotics
Available Leverage	Up to 1:200 (varies by region)
Broker Type	Market Maker
Founded	1996
Country	Headquartered in New York, USA
Free Demo Account	Yes
Clients Accepted	Global, including US, with restrictions for certain countries
Pricing System	Variable spreads, or spread plus commission (which amounts to the same thing), e.g., EUR/USD: 1.4 pips spread only or 0.4 pips spread plus ~ 1 pip commission
Inactivity Fee	Yes

Introduction

Pros:

Competitive spreads and fees: Particularly for forex pairs.
Diverse trading platforms: Suitable for both beginners and advanced traders.
Wide range of instruments: Including forex, cryptocurrencies, and stocks.
Strong educational resources: Extensive materials and tools for traders of all levels.
Advanced features: Robust research tools, API access, and automated trading capabilities.

Cons:

Inactivity fees: £10 per month after 12 months of inactivity.
Withdrawal fees: Applicable for bank transfer withdrawals.
Limited availability of certain instruments: No CFDs on shares in some regions.

History of Oanda

Founded in 1996, OANDA has become a major player in the forex and CFD trading industry. The broker is known for its innovation and commitment to providing a transparent and reliable trading experience. Over the years, OANDA has expanded its offerings and regulatory reach to cater to a global client base.

Where does Oanda Operate

OANDA operates globally with regulatory oversight in key financial regions, including:

United Kingdom: Regulated by the FCA.
United States: Registered with the CFTC and a member of the NFA.
Australia: Regulated by ASIC.
Canada: Regulated by IIROC.
Singapore: Licensed by MAS.
Japan: Registered with the FFAJ.
Malta: Regulated by MFSA.
British Virgin Islands: Regulated by the FSC.

Investment Offering

OANDA offers a diverse range of investment opportunities:

Forex Trading: With over 71 currency pairs, OANDA provides extensive forex trading options.
Cryptocurrencies: A selection of popular cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.
Commodities: Trade CFDs on commodities like Gold, Silver, and Oil.
Indices: Access major global indices such as the Dow 30, Dax 40, and Japan 225.
Stocks: Over 228 stock CFDs from major global exchanges.

Trading Platforms

OANDA offers a range of trading platforms designed to cater to the diverse needs of its clients:

OANDA Trade Web: A user-friendly web platform with robust charting tools and customization options.
OANDA Trade Desktop: A powerful desktop platform with advanced order types and analytical tools.
MetaTrader 4 (MT4): Popular for its automated trading capabilities and extensive technical analysis tools.
OANDA Mobile App: Provides a seamless mobile trading experience with real-time market data and advanced charting.

Oanda Account Types

OANDA offers several account types tailored to meet the diverse needs and experience levels of its clients. The main account types include Standard, Premium, and Swap-Free Islamic accounts. The account opening process is fully digital and can be completed via the website in less than 10 minutes.

OANDA Account Types and Their Benefits:

Feature	Standard Account	Premium Account	Swap-Free Islamic Account	Demo Account
Minimum Deposit	$0	$20,000	$0	$0
Spreads From	From 1.2 pips (EUR/USD)	From 1.0 pips (EUR/USD)	From 1.2 pips (EUR/USD)	N/A
Commission	None	None	None	None
Instruments	All	All	All	All
Base Currencies	USD, EUR, GBP, CAD, AUD, JPY, CHF, SGD	USD, EUR, GBP, CAD, AUD, JPY, CHF, SGD	USD, EUR, GBP, CAD, AUD, JPY, CHF, SGD	USD, EUR, GBP, CAD, AUD, JPY, CHF, SGD
Leverage	Up to 1:200 (varies by region)	Up to 1:200 (varies by region)	Up to 1:200 (varies by region)	N/A
Margin Call	100%	100%	100%	N/A
Stop Out	50%	50%	50%	N/A
Swap Free	No	No	Yes	N/A
Minimum Volume	0.01 lots	0.01 lots	0.01 lots	N/A
Account Management	Basic	Dedicated Relationship Manager	Basic	N/A
Exclusive Webinars	No	Yes	No	N/A
Custom Reports	No	Yes	No	N/A

Accepted Countries

OANDA accepts clients from many countries worldwide, including the US for non CFD trading, but there are restrictions due to regulatory constraints. Notably, OANDA does not accept clients from China, India, North Korea, and Iran.

Copy Trading Features

OANDA does not currently offer a dedicated copy trading platform. However, clients can utilize the MetaTrader 4 platform to implement automated trading strategies using Expert Advisors (EAs) or the MetaTrader Signals market, but is not available in the U.S., U.K., or Canada.

These tools can replicate the functionality of copy trading by allowing traders to automate their trading strategies and follow pre-defined trading signals.

Deposit & Withdrawals

OANDA provides a seamless experience for funding and withdrawing from trading accounts. The company offers various payment methods with fast processing times.

Deposit Methods:

Bank Cards: Visa and Mastercard are accepted for instant deposits with no fees.
E-wallets: Popular e-wallets such as Skrill and Neteller are available for instant deposits.
Bank Transfer: Traditional bank transfers are also available.

Withdrawal Methods:

Similar to Deposit Methods: Most deposit methods can also be used for withdrawals, offering convenience and flexibility.
Withdrawal Fees: OANDA charges a $20 fee for withdrawals via bank transfer.

Additional Considerations:

Minimum Deposit/Withdrawal Amounts: These may vary depending on the chosen payment method and account type.
Processing Times: While OANDA strives for fast processing, certain methods or situations may require additional processing time.
Verification: Clients may need to complete a verification process before depositing or withdrawing funds to ensure security and compliance.

Oanda Spread and Commissions

OANDA primarily utilizes a spread-based fee structure, with competitive spreads available on various accounts. The spreads are variable and can fluctuate based on market conditions.

Spreads:

Variable Spreads: Spreads are variable and fluctuate based on market liquidity and volatility. OANDA provides competitive spreads across different account types.
Examples:
- EUR/USD: 1.2 pips on Standard Account, 1.0 pips on Premium Account
- GBP/USD: 1.6 pips on Standard Account, 1.4 pips on Premium Account

Commissions:

No Commissions: Generally, no commissions are charged on Standard and Premium accounts, but spreads may be slightly higher.
Islamic Accounts: Also follow a no-commission structure, adhering to Sharia law with no swap fees.

Oanda Fee’s and Costs

Other Costs: OANDA charges a few non-trading fees, including:

Inactivity Fee: £10 per month after 12 months of inactivity.
Withdrawal Fees: $20 for bank transfer withdrawals.
Currency Conversion Fees: May apply during deposits, withdrawals, or trading.
Swap Fees: Charges for holding positions overnight (applicable to Standard and Premium accounts).

Transparency: OANDA provides detailed information about spreads, commissions, and other costs on its website and trading platforms. This transparency ensures that traders can make informed decisions about their trading activities and associated costs.

Unique Features

Unique Features of OANDA

Advanced Trading Platforms: A range of robust platforms including MT4 and proprietary options.
Strong Research Materials: In-depth analysis and market insights from in-house and third-party providers.
Comprehensive Educational Resources: Extensive materials and tools for traders of all levels.
Reliable Customer Support: 24/5 support via live chat, phone, and email.

Oanda Regulation and Security

OANDA is regulated by multiple top-tier financial authorities:

FCA (Financial Conduct Authority, UK): Ensuring high standards of client protection and operational transparency.
CFTC (Commodity Futures Trading Commission, USA): Regulating futures and options markets.
ASIC (Australian Securities and Investments Commission): Overseeing financial services and markets in Australia.
IIROC (Investment Industry Regulatory Organization of Canada): Regulating investment dealers and trading activities in Canada.
MAS (Monetary Authority of Singapore): Supervising financial institutions in Singapore.
FFAJ (Financial Futures Association of Japan): Overseeing financial futures in Japan.
MFSA (Malta Financial Services Authority): Regulating financial services in Malta.

FSC (Financial Services Commission, British Virgin Islands): Regulating financial services in the BVI.

Research and Education

Research:

Market Analysis: Regular market analysis covering multiple markets.
Dow Jones News: Real-time news and updates.
Autochartist: Technical analysis and trading signals.

Education:

Platform Tutorials: Detailed guides and tutorials.
Webinars: Live and recorded webinars covering various trading topics.
Articles and Videos: Educational content for traders of all experience levels.

Customer Support

Support Channels:

Live Chat: Available 24/5.
Email: 24/7 support.
Phone Support: Direct phone support for immediate assistance.

Support Services:

Technical Assistance: Help with platform issues and other technical difficulties.
Account Management: Guidance on account-related matters.
Trading Support: Assistance with trading conditions and platform functionalities.

The Bottom Line

OANDA presents a compelling option for traders seeking a reliable and feature-rich trading environment. The company’s strengths lie in its competitive spreads, advanced trading platforms, and comprehensive educational resources. Additionally, OANDA demonstrates a commitment to client support and transparency.

Pros:

Global Reach: OANDA caters to a wide range of international clients with its regulatory licenses and localized services.
Wide Range of Instruments: Extensive selection of forex pairs and other CFDs.
Advanced Features: API access, automated trading, and robust research tools.
Comprehensive Educational Resources: Suitable for both beginners and advanced traders.

Cons:

Inactivity Fees: £10 monthly fee after 12 months of inactivity.
Withdrawal Fees: $20 fee for bank transfer withdrawals.
Limited Availability of CFDs on Shares: Not available in all regions.

Overall, OANDA is a suitable choice for traders looking for a well-rounded broker with a strong focus on regulatory compliance, advanced trading platforms, and comprehensive educational resources.

Others

OANDA is a well-established broker with over 25 years of experience in the forex and CFD market. The company operates globally, offering a wide range of trading instruments and platforms, including the user-friendly OANDA Trade web and desktop platforms, as well as MetaTrader 4 and the OANDA mobile app. Regulated by several top-tier authorities, OANDA ensures a high level of client fund security and transparency. The broker provides competitive spreads, particularly on major currency pairs, and supports traders with comprehensive educational resources and advanced trading tools. With no minimum deposit required, OANDA is accessible to traders of all levels.

Oanda Review

Oanda

Review By

Brendan Walsh

Overview

Introduction

History of Oanda

Where does Oanda Operate

Investment Offering

Trading Platforms

Oanda Account Types

Accepted Countries

Copy Trading Features

Deposit & Withdrawals

Oanda Spread and Commissions

Oanda Fee’s and Costs

Unique Features

Oanda Regulation and Security

Research and Education

Customer Support

The Bottom Line

Others

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