Oanda review

OANDA

OANDA

www.oanda.com

  • Leverage: 50:1

  • Regulation: CFTC, NFA, FCA, MAS, ASIC, IIROC

  • Min. Deposit: no minimum deposit

  • HQ: USA

  • Platforms: MT4, fxTrade

  • Found in: 1996

OANDA Licenses

  • OANDA Corporation - authorized by the CFTC (USA)  and is a member of the NFA (USA)  registration No: 0325821
  • OANDA Europe Limited - authorized by FCA (UK) registration no. 542574
  • OANDA Australia Pty Ltd- authorized by ASIC (Australia) registration no. ABN 26 152 088 349, AFSL No. 412981
  • OANDA (Canada) Corporation ULC - authorized by IIROC (Canada) registration no.09-0280
  • OANDA Asia Pacific Pte Ltd - authorized by MAS (Singapore) registration no. 200704926K
  • OANDA Japan Co., Ltd - authorized by FFAJ (Japan)

Top 3 Forex Brokers

  1. Is Oanda safe or a scam?
  2. Trading Platform
  3. Accounts
  4. Spread
  5. Leverage
  6. Deposits and Withdrawals conditions with a minimum deposit and withdrawal fee
  7. Conclusion

What is OANDA?

OANDA is a technology-driven financial services corporation founded back in 1996, with a belief that the internet would open the markets with fair access to everyone for data and trading. Indeed what we experience now shows that the approach was absolutely right, while OANDA stood as the first company with comprehensive currency exchange information presented online and the one supported the development of currency trading in 2001.

Recently, during the last years broker truly grown to a global corporation with offices in 8 financial centers (USA, Canada, UK, Japan, Singapore and Australia) , that serves clients from about 200 countries, maintained support in 9 languages and follows strict regulations of 6 major authorities.

Oanda review

In its offering, OANDA is a leader in currency data, offering Forex & CFD trading (over 100 instruments, including currency pairs, indices, commodities, bonds and metals), corporate fx payments and exchange rate services for a wide range of organizations and investors.

Actually, OANDA reliability and trust are confirmed also by the leading global brands who choose OANDA as their partner and including the biggest world organizations Google, KPMG, TESLA, airbnb, FedEx, IATA, pwc, twitter, Expedia and more.

In addition, OANDA’s commitment to democratizing the global financial markets has been recognized throughout industry publications and organizations by its multiple awards within the industry. Oanda clients also have voted the company as number one in customer service, or value for money and overall client satisfaction on a yearly basis.

Oanda awards

Is Oanda safe or a scam?

OANDA Corporation is actually heavily regulated and authorized by various government agencies due to its global presence and coverage of various jurisdictions. In simple words, license and follow of regulations meaning that the broker complies to the international standards that check on the firm sustainability before its launch, regularly during its operation and even covers clients funds in case of the company insolvency with specified limits.

Or even more simplified the regulated company is a potentially safe company to trade with, as its every step and actions are strictly overseen and complied with the operational guidelines.

In case of OANDA that is divided by the geographical regions and covering the US, Canadian, European, Asian and Australian markets are also respectively regulated and authorized by each of the necessary, particular agencies that oversee the trading business.

OANDA entityRegulation and License
OANDA CorporationIs authorized by the  CFTC (USA)  and is a member of the NFA (USA)  registration No: 0325821
OANDA Europe LimitedIs authorized by FCA (UK) registration no. 542574
OANDA Australia Pty LtdIs authorized by ASIC (Australia) registration no. ABN 26 152 088 349, AFSL No. 412981
OANDA (Canada) Corporation ULCIs authorized by IIROC (Canada) registration no.09-0280
OANDA Asia Pacific Pte LtdIs authorized by MAS (Singapore) registration no. 200704926K
OANDA Japan Co., LtdIs authorized by FFAJ (Japan)

All customer funds, according to the regulations are kept in top tier bank accounts and are fully segregated, as well as protected by negative balance protection. Within the trading process, Oanda manages currency exposure and risk while use risk management technology, which net aggregate client positions automatically and anonymously, aggregates positions above predefined which are immediately hedged.

Trading Platforms

Generally speaking, Oanda Review recognized technology and software offering aiming to build itself around the right approach to protect the client and his trades, therefore adheres to tighter spreads and custom platforms across premium offering and automation of trading strategies.

No one would debate that execution means a lot in trading, and at Oanda you can enjoy new proprietary v20 execution engine that executes trades in just milliseconds.

As a mainstay OANDA using a proprietary platform fxTrade, which can be classified as ‘easy to use trading functionality’ and has won many awards along of numerous highest traders’ regards. A platform providing access across trading functionality, including advanced charting tools, chart pattern recognition, institutional quality backtesting, and a stream of financial news from leading providers.

Overall, the platform indeed can be classified as best in its class and definitely will be enjoyed by various level traders. OANDA’s platform supporting Web Trading, Desktop Trading and Mobile Trading Apps.

Oanda platform

However, if you prefer MetaTrader4 it’s still an option with OANDA too, furthermore platform including all favors of exceptional execution, competitive spreads, full support of EAs including hedging scopes and a possibility to install pattern MT4 plugin for technical analysis.

Another designed by OANDA feature is OANDA Forex Labs, which is an absolutely unique institution performing latest developments and featuring Forex Analysis, Signals & FX Tools in continuous improvements process, as well there is an ability to try the beta version on the new ones.

Accounts

For OANDA there is no difference between clients, that’s why the broker do not differ the types of account and features only one standard type of trading account. However, the client turns to the Premium client at $50K minimum deposit and gets tailoring requirements, custom pricing and tighter spreads.

The broker’s proposals lead to trade over 100 instruments including currency pairs, commodities, indices, bonds and metals with no minimum deposit requirement or trade size, no added commissions, with the costs based only into the spread, which is by fact quite competitive.

Fees

The Oanda spread is calculated through an Oanda platform which is electronically connected to numerous global banks that access the most accurate foreign exchange and CFD rates. Below you may see an average spread on most traded instruments, as well as a snap from live quotes.

Asset/ PairOANDA Fee Terms
EUR/USD1.3 pips
Crude Oil WTI4
Gold25.3

Oanda spread

Apart from live quotes, you may find information about the historical spread on particular asset or instrument, which can be very useful for you to understand the price policy of the Oanda and get knowledge on how the spread is influenced by the volatile market conditions.

Compare OANDA fees to another popular broker FXTM.

Oanda historical spread

What is OANDA Leverage?

The OANDA fxTrade platform supports margin trading, which means you can trade positions larger than your account balance. The advantage of margin-based trading is that you can leverage the funds in your account and potentially generate large profits relative to the amount invested, however, the downside is that you have an equal opportunity to incur losses in your account.

So you should apply in good practice to utilize stop-loss orders and limit high leverage on particular potential losses. However, in Oanda policy Stop Loss orders are not guaranteed, (check on the guaranteed stop loss brokers).

The maximum leverage allowed is determined by the regulators in each geographic region. You may always choose to be conservative and limit leverage utilized to lower levels than allowed by the regulators, for example, the US regulator requires 50:1 leverage on Forex instruments, while the recent European ESMA regulation demands maximum of 30:1. Yet, Australian clients may still apply to a leverage 400:1.

What OANDA offers for Deposits and Withdrawals?

The important question about money transfers to and from the trading account features a slight difference according to the trader’s residence and under which OANDA entity you hold an account. It is a fact, various jurisdictions due to tax and laws allow some of the payment methods, while others may be prohibited to use.

Minimum deposit

The Oanda applied no minimum deposit requirement rule, yet you should calculate the amount in order to cover trading fees and margins.

Therefore, USA clients options offer Bank transfers and payment by Credit Cards, Checks and Automated Clearing House – with no fees, however, be ready that your bank may charge some performance services. Canada Clients: Bank wire transfer and PayPal (CAD only). European Clients may use Credit/ Debit Cards, SWIFT wire transfer, PayPal (GBP, USD and EUR), BACS and CHAPS (only GBP).

The Asia Pacific traders eligible to use DBS Pay Bills, Internet banking transfer, Bank wire transfer, PayPal (SGD only), Cheques (SGD only), China UnionPay. And the last group is Australian Clients that allowed to use Credit/ Debit Cards, Internet banking transfer, Bank wire transfer, PayPal, Bpay, China UnionPay.

Oanda deposit

Withdrawal

Same as with deposits, withdrawal policies vary based on the company division. Most often transactions performed via Bank Transfer or Wire Transfer, or Credit cards with 0$ withdrawal fee for the first request within a month. Yet, if you wish to withdraw more funds, it may incur additionally applicable to various jurisdictions fee. See example on fees for Australian clients.

Oanda withdrawal

Conclusion

Overall, going throughout attractive Oanda Review and features such as no minimum deposit, pricing transparency, technical optimization and a variety of tools, it is becoming clear why the broker gained high trust and popularity among the traders’ community.

The fact that the company stands and operates on a strong background of reliable and successful cooperation with “global business giants” it definitely adds another advantage towards Oanda.

What we like is not to mention the number of developments and patterns being done by the OANDA in technical instruments and their impact on a trading process. And the last, but not the least is the approach to active users, owing to the smart management of the risks.

Alternative forex broker is Avatrade which also holds strong licenses with better trading conditions.

Nevertheless, it is always good to know your personal opinion about Oanda and its conditions, which you may express in the comment area below.

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    A global online multi-asset trading services and currency data company, OANDA has announced the appointment of David Grant as Chief Operating Officer, Asia Pacific, based in Singapore. Mr. Grant will be responsible for overseeing the firm’s administrative and operational functions as well as enhancing the overall efficiency of the business. David Grant holds more than...

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    Online multi-asset trading services and currency data and analytics company, OANDA Global Corporation has further strengthened its leadership team with two key appointments designed to help the firm execute its aggressive growth plans in the near future. Mark Chesterman has been named Head of Trading, responsible for leading the global trading team, quantitative analytics and...

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  • Greg Niebank is appointed as OANDA’s Head of Product

    A global leader in online multi-asset trading services and currency data and analytics, OANDA Global Corporation has further strengthened its client offering with the appointment of Greg Niebank as Head of Product. Niebank will be based in London, and will be responsible for introducing additional trading instruments, client-focused partnerships and platform enhancements.  Niebank has spent...

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4 responses to “OANDA”

  1. Hi.. Im from Philippines.. Can i join or make a live account for forex trading? I want more information about withdrawals from trade account. By how long or extent is the transaction period time of withdrawals to be done in order to be reached to my local bank which i linked to my trade account or live account? May you explain also the negative balanced how it is happened?

    Thank you very much!

    • Dear David,

      Yes, you can open OANDA account from Kenya. You just need to go to its website and click “open a trading account”, choose your country and proceed with the application.

  2. Hola buen día, tengo dos preguntas, la primera ¿puedo abrir una cuenta desde Ecuador? Y la segunda Oanda dispone de cuenta demo?

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