Some regulators enforce strict financial standards, while others are more lenient. Traders should understand the protection offered by the entity where they intend to open an account. OANDA is one of the largest and oldest brokers in the forex industry, with eight entities regulated worldwide.
Security and Money Guarantees
Client funds are held in segregated accounts, and my research revealed that OANDA maintains a high level of transparency overall. However, the fee structure for inactivity, withdrawals, etc, is higher than average. If fee structure is important to you, we recommend comparing the fee structure of several brokers before committing to OANDA. This includes every detail from regulation, and trading tools to account types, cost, and approach to research and education.
PayPal, Skrill, and Neteller (region-specific not available in the US). Processing times range from one to three business days for cards and domestic transfers, and up to five days for international transfers. 🛡️Regulated by the NFA and CFTC.🛡️3510 new traders chose this broker in the last 90 days.🛡️Available for global Traders. All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor.
Expert recommendations for OANDA almost always mention the robust regulatory standing. The ancillary fees are mentioned as a downside, as are the limitations for the US market. OANDA’s limited range of tradable products also doesn’t go completely unnoticed. In addition to MarketPulse, OANDA offers on-site analytics tools and a guide to getting started with OANDA’s API.
Oanda platform performance testing
You can link your OANDA account with TradingView and place trades directly from the TradingView platform. Just create or log in to your TradingView account and choose OANDA as your preferred broker. Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. A brochure describing the nature and limits of the coverage is available upon request or at
- OANDA provides Standard and Elite trader accounts, each with unique features to suit different trading styles and volumes.
- OANDA allows scalping and does have some advantages such as a good record for instant fills and low slippage however scalpers tend to prefer ECN or RAW style accounts as they are cheaper.
- This Forex broker offers 68 forex pairs with the choice of a spread-only or core pricing account.
- While being the most feature-rich and popular trading platform, MetaTrader 4 does not have a slick interface and requires some time and effort to learn.
- Paxos is not an NFA member and is not subject to the NFA’s regulatory oversight and examinations.
In the two and a half decades since its incorporation, the company has grown impressively. With headquarters in Times Square, New York City, OANDA now has offices in eight countries around the world. This expansion means it has now become a leading presence at the top table of the truly global brokers, able to compete with the best. Boasting a robust history of over 25 years, it has achieved significant growth, establishing itself as a pioneer in the industry. That said, the customer service team is knowledgeable and helpful, once you get a hold of them.
Saxo Bank
- OANDA offers demo accounts for the OANDA Trade Web, MT4, and TradingView platforms.
- He describes it as having the Best Social Trading Platforms resource and has benefitted from exchanging ideas with experienced forex traders with a similar approach to the fx markets.
- In jurisdictions where Core Pricing accounts are available, traders can pay a commission on each trade to get much tighter spreads.
- This allows you to quickly enter orders straight from the chart so you don’t miss trading opportunities that present themselves in real time.
- At BrokerNotes.co, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools.
OANDA offers clients exposure to a variety of financial instruments, and is a particularly good fit for seasoned traders looking for a stellar browser-based desktop trading experience. Product offerings vary by region, and U.S. clients can only trade FX. To evaluate brokers, we test the accounts, trading tools and services provided. Over 200 data points are considered, from minimum deposits and trading fees to the platforms and apps available.
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OANDA’s phone support is only available from Sunday evening through Friday evening Eastern Standard Time. OANDA’s regulatory standing is something we consider a differentiator that sets it apart from many of its competitors. This includes the OANDA Corporation, which operates in the US and is regulated by CFTC/NFA.
Being a tech firm at heart, OANDA has been a pioneer in the trading world. Since its early days of launching its first platform in 2001, they were among the early adopters in the development of automated trading technology in 2003. Furthermore, they were the first broker to introduce “pipettes” (1/10 of a regular pip) in 2004. The platform is quick, and robust, and is most suited to advanced traders, but all users can probably expect a bit of a learning curve before you can fully utilize it. Oanda’s award-winning technology and execution across a wide selection of asset classes, enables customers to trade currencies, including commodities, equity indices, and precious metals. Within 45 days of account enrollment, fund your account with at least $500.
Does OANDA offer a raw spreads account?
Jeff Anberg is a Senior Editor at BrokerNotes.co and ForexBrokers.com. Along with years of experience in oanda broker review media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency.
We turned to the world of forex traders for their opinions of OANDA. Overall, the feedback is generally positive, with review sites like Trustpilot showing a rating of 4.1 stars. While there are some hits to customer support, the majority of community reviews praise the support offered by OANDA. Moving beyond their trading platforms, OANDA’s offerings span a diverse range of trading products.
The proprietary OANDA Trade Web platform offers robust charting, diverse order types, and unique tools like sentiment data. The OANDA mobile app stood out for its excellent design and diverse features. Clients also have access to the popular TradingView and MetaTrader 4 platforms.
This is in addition to one-click access to real-time industry news. In our experience, this area is what we have found to be OANDA’s weakest point. Spot Crypto trading is limited in some regions because of local rules. However, OANDA Crypto facilitates trading in the UK by integrating Coinpass into its group. This type of trading involves directly buying and selling cryptocurrencies without using leverage. They offer 8 various Cryptocurrencies including most of the majors, such as BTC, Ethereum and Litecoin.
Our OANDA review found the trading platform to offer an intuitive interface with a suite of advanced technical analysis tools. We also discovered informative tutorials and guides for traders who want to learn more about trading principles. These types of features make OANDA user-friendly for all levels of traders. OANDA provides Standard and Elite trader accounts, each with unique features to suit different trading styles and volumes. OANDA also supports traders with one-click trading and offers a variety of instruments, including Forex.
