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OANDA 2025 Review

OANDA

OANDA

www.oanda.com

  • Leverage: 1:30 | 1:200

  • Regulation: CFTC, NFA, FCA, ASIC, IIROC, MFSA, MAS, FFAJ, BVI FSC

  • Min. Deposit: $0

  • HQ: USA

  • Platforms: OANDA Web Platform, MT4, MT5, TradingView, fxTrade

  • Found in: 1996

OANDA Licenses

  • OANDA Corporation - authorized by the CFTC (USA) NFA ID: 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 412981
  • OANDA (Canada) Corporation ULC - authorized by IIROC (Canada) registration no. 09-0280
  • OANDA Europe Markets Ltd. - authorized by MFSA (Malta) registration no. C 95813
  • OANDA Asia Pacific Pte. Ltd. - authorized by MAS (Singapore) registration no. 200704926K
  • OANDA Japan Inc. - authorized by FFAJ (Japan) registration no. 1571
  • OANDA Global Markets Ltd  - authorized by BVI FSC (British Virgin Islands) registration no. SIBA/L/20/1130

Top 3 Forex Brokers

  1. What is OANDA?
  2. OANDA Pros and Cons
  3. Regulation and Security Measures
  4. Account Types and Benefits
  5. Cost Structure and Fees
  6. Trading Platforms and Tools
  7. Trading Instruments
  8. Deposit and Withdrawal Options
  9. Customer Support and Responsiveness
  10. Research and Education
  11. Portfolio and Investment Opportunities
  12. Account Opening
  13. Additional Tools And Features
  14. OANDA Compared to Other Brokers
  15. Full Review of Broker OANDA
Overall Rating 4.6
Regulation and Security 4.8 / 5
Account Types and Benefits4.6 / 5
Cost Structure and Fees4.5 / 5
Trading Platforms and Tools4.7 / 5
Trading Instruments4.3 / 5
Deposit and Withdrawal Options4.4 / 5
Customer Support and Responsiveness4.6 / 5
Research and Education4.5 / 5
Portfolio and Investment Opportunities4 / 5
Account Opening4.5 / 5
Additional Tools and Features4.3 / 5

What is OANDA?

OANDA is a technology-driven financial services corporation and a Forex and CFD Broker founded in 1996 in the United States, believing that the internet would open the markets with fair access to everyone for data and trading. OANDA stood as the first company to have comprehensive currency exchange information presented online and the one that supported the development of currency trading in 2001.

The broker has grown into a global corporation with offices in 8 financial centers (USA, Canada, UK, Japan, Singapore, and Australia), that serves clients from about 200 countries, maintains support in 9 languages, and follows strict regulations of 6 major authorities.

What Type of Broker is OANDA?

We found that OANDA is a market maker and highly regulated broker providing access to more than 50 technical tools, including 32 overlay indicators, 11 drawing tools, and 9 chart types. The broker offers a wide range of global CFD instruments, including indices, Forex, cryptocurrencies, shares, commodities, and metals.

OANDA Website Review

OANDA Pros and Cons

OANDA is a reliable broker with a history of operation and strong establishment, an excellent reputation, and numerous regulations. There is no minimum deposit requirement and professional education section, making OANDA great for beginning traders. There is a range of trading tools, proprietary software, and industry-leading tools provided with low costs and spreads.

Also, OANDA is one of the largest and most heavily regulated brokers with high trust and great trading offerings overall, so the Broker might be suitable for various traders including US Traders.

For the Cons, OANDA conditions are different depending on the entity and regulation rules and some withdrawals add on fees.

AdvantagesDisadvantages
Heavily regulated broker with a strong establishmentConditions and offering vary depending on the entity and regulations
Popular trading platforms and competitive trading conditionsNo 24/7 support
Great trading tools and trading technology Some withdrawals add on fees
Good quality educational materials, and excellent research
Quality customer support with live chat and fast response
Global expands across Europe, Asia, and America

OANDA Features

OANDA is a globally trusted broker offering a wide range of features designed for Forex and CFD traders. Here are the key features to consider when choosing this broker:

OANDA Features in 10 Points
🏢 RegulationCFTC, NFA, FCA, ASIC, IIROC, MFSA, MAS, FFAJ, BVI FSC
🗺️ Account TypesStandard, Premium, Premium Plus Accounts
🖥 Trading PlatformsOANDA Web Platform, MT4, MT5, TradingView, fxTrade
📉 Trading InstrumentsForex and CFDs, Indices, Commodities, Bonds, Metals, Commodities, Shares, Cryptocurrencies
💳 Minimum Deposit$0
💰 Average EUR/USD Spread1 pip
🎮 Demo AccountAvailable
💰 Account Base CurrenciesUSD, EUR, HKD, SGD
📚 Trading EducationWebinars, Trading Resources, Beginners Guides, Live Market Analysis
☎ Customer Support24/5

Who is OANDA For?

OANDA is suitable for traders of all experience levels. Beginners will appreciate its intuitive platforms and educational resources, while advanced traders can benefit from competitive pricing, powerful tools, and API support for automated trading. Based on Financial Expert Opinions OANDA is Good for:

  • Beginners
  • Advanced traders
  • Professional Trading
  • Traders who prefer MT4 and MT5
  • Currency and CFD trading
  • Variety of trading strategies
  • Algorithmic or API traders
  • Low fees and competitive spreads
  • Good customer support
  • Excellent educational materials
  • Quality research

OANDA Summary

Concluding the OANDA review, we acknowledge it as a safe broker offering reliable trading solutions. OANDA has very attractive features such as no minimum deposit, pricing transparency, excellent technical optimization, and a variety of tools, making it clear why the broker has gained high trust and popularity within the trading community.

The company operates on a strong foundation of reliable and successful performance, with offerings tailored to suit both professional and retail traders, adding yet another advantage to OANDA’s reputation.

55Brokers Professional Insights

OANDA is one of those Brokers with excellent reputation, being pioneer Broker in trading world since the start that stands out as a broker with a strong reputation for transparency. The trading technology is advanced, with constant change along the development and innovative solutions at the place, that makes Oanda a preferred choice for traders worldwide. Being available almost to any traders worldwide, including US trading which is great benefit to sign up, as such suitable for almost any trade with large or small capital, beginner or heavy investor.

Besides, strengths include no minimum deposit requirements, competitive spreads, and a range of powerful tools such as API trading and TradingView integration. We also mark great commitment to pricing transparency and fast order execution that earned the trust of the trading community and our opinion too.

However, OANDA has some drawbacks, such as limited product offerings (focusing primarily on Forex and CFDs) and the absence of features like copy trading. Despite these limitations, the broker’s solid platform and reliable operations make it a safe and attractive option for traders of all levels.

Consider Trading with OANDA If:

OANDA is an excellent Broker for:- Need a well-regulated broker. - Available for US trading. - Looking for broker with MT4 and MT5 trading platforms. - Offering popular trading instruments. - Looking for broker with no minimum deposit requirement. - Offering services worldwide. - Looking for broker suitable for beginners and professional traders. - Providing competitive fees and spreads. - Broker with quality educational materials and research. - Looking for broker with good customer service. - Offering high leverage up to 1:200. - Providing advanced trading tools. - Access to VPS. - Secure trading environment.

Avoid Trading with OANDA If:

OANDA might not be the best for:- Who prefer 24/7 customer service. - Looking for cTrader trading platform. - Need broker with fixed spreads. - Offering MAM/PAMM accounts. - Looking for broker with copy/social trading features.

Regulation and Security Measures

Score – 4.8/5

OANDA Regulatory Overview

OANDA is a highly regulated broker, ensuring a safe and transparent trading environment for its clients. OANDA holds licenses from world-recognized top-tier authorities and is established according to the United States CFTC and NFA regulations with additional regulation from FCA, ASIC, IIROC, and more.

This global regulatory framework provides traders with robust protections such as segregated client funds, negative balance protection (in certain regions), and adherence to strict operational standards. With its compliance across multiple jurisdictions, OANDA is considered a trustworthy broker for traders worldwide.

How Safe is Trading with OANDA?

Trading with the broker is considered highly safe due to its strong regulatory oversight and commitment to client protection. OANDA Corporation is heavily regulated and authorized by various government agencies due to its global presence and coverage of various jurisdictions.

However, regulatory regimes and requirements in each jurisdiction are slightly different but all in all, adhere to the same purpose of customer protection and transparency within the market offering.

Additionally, 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 using risk management technology, which net aggregate client positions automatically and anonymously, aggregates positions above predefined which are immediately hedged.

Consistency and Clarity

OANDA has built a strong reputation for consistency and transparency in the financial trading industry. With over two decades of operation since its establishment in 1996, the broker has garnered trust through regulatory compliance, innovative trading solutions, and a commitment to client satisfaction.

It boasts high ratings and positive reviews from traders for its reliable platforms, competitive spreads, and pricing transparency. However, some traders point out drawbacks such as limited product offerings beyond Forex and CFDs and the absence of tiered loyalty programs. OANDA’s reputation is further solidified through numerous industry awards, highlighting its service excellence.

Additionally, the broker actively engages in community initiatives and sponsorships, reinforcing its image as a socially responsible and well-rounded company in the financial sector.

OANDA License Review

Account Types and Benefits

Score – 4.6/5

Which Account Types Are Available with OANDA?

OANDA offers a variety of account types designed to cater to traders of all levels and needs. For international traders, the broker provides Standard, Premium, and Premium Plus Accounts, each offering unique benefits such as tighter spreads, dedicated account managers, and advanced trading tools for higher-tier accounts.

Additionally, OANDA offers demo accounts, allowing beginners to practice trading in a risk-free environment and experienced traders to test strategies. Swap-free accounts are also available for clients who require Sharia-compliant trading options.

However, the account types and features may vary depending on the regulatory jurisdiction, so traders should review the options specific to their region.

Standard Account

The Standard Account at OANDA is a versatile option, offering access to over 1,500 instruments. The account operates on a spread-based pricing model, with spreads starting as low as 0.6 pips. Traders can enjoy flexibility with no minimum deposit requirement, making it accessible for those starting with smaller capital.

The account is compatible with MetaTrader 5, OANDA’s proprietary fxTrade, and TradingView trading platforms, providing powerful tools and features for analysis, trading, and strategy implementation.

Premium Account

The Premium Account at OANDA is designed for high-volume traders seeking enhanced trading conditions and exclusive benefits. With spreads starting from 0.7 pips, this account offers competitive pricing for traders who trade in larger volumes. There are no account opening fees, and traders gain access to priority support and additional tools to optimize their trading experience.

The account also includes benefits such as tighter spreads, faster execution speeds, and personalized account management, catering to more experienced and professional traders.

Premium Plus Account

The Premium Plus Account is tailored for elite, high-volume traders who demand the best trading conditions and exclusive privileges. With spreads starting as low as 0.1 pips, this account offers some of the most competitive pricing in the market, ideal for those executing large trades frequently.

Traders benefit from personalized support, priority access to premium trading tools, and enhanced execution speeds. Additionally, the account provides advanced market insights and dedicated account management to ensure a superior trading experience. Designed to meet the needs of professional and institutional-level traders, the Premium Plus Account combines ultra-low spreads, advanced features, and exceptional service to create a top-tier trading environment.

OANDA Accounts Review

Regions Where OANDA is Restricted

While OANDA is a globally recognized broker, its services are not available in certain regions due to regulatory or operational restrictions. OANDA does not currently accept clients from countries including:

  • Syria
  • Pakistan
  • Iraq, and others

OANDA Regions Review

Cost Structure and Fees

Score – 4.5/5

OANDA Brokerage Fees

OANDA’s brokerage fees are structured in two ways: Spread-only pricing and Commission + core spread pricing. The broker offers competitive spreads, which vary based on the account type, with spreads starting from 0.6 pips for the Standard Account and an average of 1 pip for the EUR/USD Forex pair.

OANDA also charges fees for specific services, such as withdrawals, especially for certain payment methods, and there may be an inactivity fee if the account remains dormant for an extended period. However, OANDA maintains transparency regarding its fees, ensuring that traders are well-informed of any potential costs.

  • OANDA Spreads

OANDA offers competitive and transparent spreads, which vary depending on the account type and market conditions. For the Standard Account, spreads start as low as 0.6 pips, with an average spread of 1 pip for the EUR/USD pair.

Traders using the Premium and Premium Plus Accounts can benefit from even tighter spreads, starting from 0.1 pips, making them ideal for high-volume traders. The spreads are dynamic and may fluctuate based on market volatility, liquidity, and the instrument being traded.

  • OANDA Commissions

In addition to the spread-only pricing model, OANDA also offers a Commission + Core Spread pricing option. This pricing model is ideal for high-volume traders who seek lower spreads and are comfortable with a fixed commission structure.

The commission for the EUR/USD currency pair is $5.00 per 100,000 base currency traded.

  • OANDA Rollover / Swaps

OANDA applies rollover or swap rates to positions held overnight, which are essentially interest fees or credits associated with holding a position past a trading day. These fees are determined based on the interest rate differential between the two currencies in a pair and can vary depending on the currency pair, market conditions, and the direction of the trade (long or short).

OANDA also offers swap-free accounts for clients who cannot engage in traditional rollover activities due to religious reasons.

  • OANDA Additional Fees

OANDA imposes additional fees that traders should consider when evaluating their trading costs. For bank wire transfers, OANDA charges a fee of $20 per withdrawal, and additional charges from banks or payment intermediaries may also apply.

The broker also enforces an inactivity fee of $10 per month (in the account’s base currency) if there are no open trades for at least 12 months. Additionally, charges for certain services may vary depending on the regulatory entity overseeing the account.

How Competitive Are OANDA Fees?

OANDA’s fees are generally competitive, offering advantages such as transparent pricing, spread-only accounts, and the option for reduced spreads through the Commission + Core Spread pricing model. For Forex trading, spreads start at 0.6 pips, with the Commission + Core Spread option providing even lower spreads for high-volume traders, such as 0.1 pips on EUR/USD with a $5 commission per 100,000 traded.

However, drawbacks include relatively higher costs for certain additional services, such as a $20 fee for bank wire withdrawals and a $10 monthly inactivity fee after 12 months of no trading activity. While these fees are industry-standard, traders should carefully evaluate their trading style and volume to determine whether OANDA’s fee structure aligns with their needs.

Asset/ PairOANDA SpreadSpreadex SpreadOneRoyal Spread
EUR USD Spread1 pip0.6 pips1 pip
Crude Oil WTI Spread4 pips2.8 pips0.6 pips
Gold Spread263 pips3.2 pips
BTC USD Spread43.01401321.6

OANDA Fees Review

Trading Platforms and Tools

Score – 4.7/5

OANDA offers a robust selection of trading platforms and tools tailored to meet the needs of various traders. The OANDA Web Platform, known for its intuitive design and powerful charting capabilities, is available under the US entity, along with the widely popular MT4 platform, which provides charting and automation through Expert Advisors.

For international clients, OANDA offers MetaTrader 5, a cutting-edge platform with enhanced features, improved execution, and more comprehensive market analysis tools. Additionally, fxTrade, OANDA’s proprietary mobile platform, delivers seamless trading and analytical features.

TradingView integration is also available, allowing users access to advanced charting tools and a social trading community. This diverse range of platforms ensures that OANDA caters to traders with varying preferences and expertise levels.

Trading Platform Comparison to Other Brokers:
PlatformsOANDA PlatformsSpreadex PlatformsOneRoyal Platforms
MT4YesNoYes
MT5YesNoYes
cTraderNoNoNo
Own PlatformsYesYesNo
Mobile AppsYesYesYes

OANDA Web Platform

The OANDA Web Platform is a user-friendly and powerful trading platform designed to provide traders with seamless access to financial markets. Available under the US entity, it features an intuitive interface, and customizable layouts to enhance trading efficiency.

The platform supports diverse technical indicators and drawing tools, enabling in-depth market analysis. With real-time price alerts, risk management tools, and access to comprehensive market news, the OANDA Web Platform caters to different levels of traders. Its browser-based design eliminates the need for downloads, allowing traders to access their accounts from anywhere with an internet connection.

OANDA Desktop MetaTrader 4 Platform

The OANDA Desktop MetaTrader 4 platform, available under OANDA’s US entity, is a robust and versatile trading solution tailored to meet the needs of traders at all levels. It supports broken-line, bar, and Japanese candlestick charts, offering nine-time frames and multiple display options for detailed market analysis.

The platform features five candles per week on the Daily NY Close Charts for precise trend insights. Traders can utilize over 50 built-in indicators, categorized by type, and have access to thousands of third-party indicators for download or purchase. With its user-friendly interface and advanced analytical capabilities, MT4 remains a popular choice for traders seeking a reliable platform.

OANDA Desktop MetaTrader 5 Platform

The OANDA Desktop MT5 platform, available under OANDA’s international entities, is an advanced trading platform designed for professional and high-level traders. MT5 offers powerful tools such as automatic chart pattern recognition, enabling traders to scan and analyze intraday markets efficiently.

With features like identifying support and resistance levels, traders can spot potential trading opportunities with ease. AutoChartist can be installed as an Expert Advisor, allowing trends to be seamlessly integrated into MT5 charts. Additionally, OANDA provides free daily market overview reports and automated alerts, keeping traders informed of key market movements and opportunities. The platform’s enhanced capabilities make it a preferred choice for comprehensive and informed trading.

OANDA MobileTrader App

The OANDA mobile trading platform, fxTrade, is available under OANDA’s international entities and offers traders a fully customizable and user-friendly trading experience. Compatible with both iOS and Android platforms, the app is streamlined for optimal performance, ensuring a seamless trading experience regardless of the device used.

It provides access to real-time market data, a variety of charting tools, and full trade functionality, allowing traders to analyze and execute trades on the go. The app also includes features like customizable alerts, one-touch trading, and intuitive navigation, making it a reliable and efficient solution for active traders who need flexibility without compromising on functionality.

Main Insights from Testing

fxTrade provides a smooth and intuitive experience for traders on the go. Key insights from testing include its easy navigation, real-time market updates, and advanced charting tools that allow for detailed analysis on mobile devices.

Additionally, the app’s customizability ensures that traders can tailor their workspace to suit their individual preferences, while features like instant order execution and notifications enhance overall trading efficiency.

OANDA Platform Review

Trading Instruments

Score – 4.3/5

What Can You Trade on OANDA’s Platform?

OANDA offers over 100 trading instruments available across various asset classes. Traders can access a diverse selection of Forex pairs, CFDs, indices, commodities, bonds, metals, shares, and cryptocurrencies. This comprehensive selection allows for significant flexibility in creating and managing portfolios.

Forex traders can benefit from a broad spectrum of currency pairs, while those interested in commodities or indices can also find opportunities in popular markets like gold, oil, and major stock indices. OANDA’s platform also provides access to shares and digital currencies, ensuring that traders have ample choices to diversify their strategies and investments.

Main Insights from Exploring OANDA’s Tradable Assets

The broker’s instrument selection allows for a variety of trading strategies across different asset classes. One of the key advantages is the ability to trade popular pairs and markets, along with an extensive list of cryptocurrencies including Bitcoin, Ethereum, and Litecoin.

However, the availability of instruments may vary depending on the regulatory entity and region. Some traders may face restrictions in terms of asset selection based on their geographic location or the entity under which they are trading. Overall, OANDA’s instrument offering provides a solid foundation for traders looking to explore various markets, though the range may be more limited in certain areas.

OANDA Instruments Review

Leverage Options at OANDA

OANDA supports margin trading, which allows you to 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, meaning the multiplier involves high risks.

Traders should practice good risk management by utilizing stop-loss orders and limiting leverage to potential losses. However, in OANDA’s policy, stop-loss orders are not guaranteed.

The maximum leverage allowed by OANDA is determined by the regulators in each geographic region. You may always choose to be conservative and limit leverage to lower levels than what is allowed by the regulators.

  • US regulator requires 1:50 leverage on Forex instruments.
  • European and UK traders are eligible to use a maximum of up to 1:30 for major currency pairs.
  • Australian clients may still apply to leverage 1:30.
  • International and professional traders can access high leverage up to 1:200 for professional trading.

Deposit and Withdrawal Options

Score – 4.4/5

Deposit Options at OANDA

OANDA offers numerous payment methods, which is a significant advantage. However, you should check according to the broker’s regulations to confirm whether a specific method is available in your region.

  • Credit/Debit Cards
  • Bank Wire
  • Skrill
  • Neteller, etc.

OANDA Minimum Deposit

OANDA applied no minimum deposit requirement rule, yet you should calculate the needed amount to deposit to cover trading fees and margins, where each is defined by the instrument you trade.

Withdrawal Options at OANDA

OANDA provides a variety of withdrawal options to cater to traders’ preferences, including bank wire transfers, credit/debit cards, and electronic wallets. While withdrawals are typically processed within one business day, certain methods, such as bank wire transfers, may take longer to complete.

Additionally, OANDA charges a fee of $20 per transaction for bank wire transfers, and additional fees may apply depending on the payment method or intermediary involved. However, withdrawal fees and available methods may vary depending on the regulatory entity under which the account is held.

OANDA Deposit/Withdrawal Review

Customer Support and Responsiveness

Score – 4.6/5

Testing OANDA’s Customer Support

OANDA offers strong customer support through multiple channels, including live chat, email, and phone, with assistance available 24/5. The support team is responsive and knowledgeable, helping with account management, technical issues, and trading-related concerns.

In addition, OANDA has an extensive FAQ section on its website, providing answers to common questions about account setup, deposits, withdrawals, and trading. While customer service is generally effective, some users have reported longer wait times during peak hours. Overall, OANDA’s customer support, along with its comprehensive FAQ, aims to deliver timely and efficient solutions.

Contacts OANDA

OANDA offers customer support across various regions with dedicated phone lines for each country. For the UK, you can reach them at +44 020 3151 2050, while in the US, the local number is +1 212 858 7690. In Australia, you can contact them at +61 2 8046 6258.

For general inquiries, OANDA’s customer support email is frontdesk@oanda.com, where you can get assistance with any trading or account-related queries.

OANDA Support Review

Research and Education

Score – 4.5/5

Research Tools OANDA

OANDA provides a wide range of research tools on its website and trading platforms.

  • On the website, traders can benefit from market analysis reports, an economic calendar, currency heatmaps, and a comprehensive suite of trading calculators. Additionally, OANDA offers tools like its Currency Converter to support informed trading decisions.
  • On the trading platforms, traders can access advanced charting tools, customizable indicators, and multiple timeframes.
  • MT5, for example, features the AutoChartist plugin for automatic chart pattern recognition, support and resistance level identification, and automated alerts.
  • TradingView integration provides robust technical analysis tools and community-driven insights, while the fxTrade platform offers streamlined charting and real-time news. Together, these resources enhance traders’ abilities to analyze markets and execute well-informed strategies.

OANDA Research Review

Education

OANDA offers a comprehensive suite of educational resources designed to support traders of all experience levels. These include interactive webinars led by industry experts, covering a variety of trading topics and market insights.

For those new to trading, OANDA provides detailed beginner guides to help users understand the basics of Forex and CFD trading. The platform also features a rich library of trading resources, such as tutorials, eBooks, and videos, to refine trading strategies and enhance skills.

Additionally, traders can access live market analysis sessions that provide up-to-date insights into market trends, helping them make informed trading decisions in real-time. These educational tools are tailored to empower traders with the knowledge and confidence needed for success in the financial markets.

Portfolio and Investment Opportunities

Score – 4/5

Investment Options OANDA

While OANDA primarily offers trading in Forex and CFDs, its European entity, OANDA TMS Brokers, enables clients to invest in over 2,200 real shares from major global markets, including the U.S., Germany, France, Spain, and the United Kingdom. This includes popular companies such as Apple, Facebook, Amazon, BMW, and Unilever.

Investors can trade these shares through the MetaTrader 5 platform and the OANDA mobile app. However, the availability of specific investment options varies depending on the regulatory entity and regional offerings.

Account Opening

Score – 4.5/5

How to Open OANDA Demo Account?

Opening an OANDA demo account is a straightforward process designed to help traders familiarize themselves with the platform and practice trading without financial risk. To start, visit OANDA’s website and navigate to the “Demo Account” section.

Fill out the registration form by providing your name, email address, and contact details, then select your preferred trading platform, such as MetaTrader 4, MetaTrader 5, or OANDA’s proprietary platform. Once registered, you will receive login credentials and access to a virtual trading account funded with simulated capital. This allows you to explore trading strategies, test tools, and experience live market conditions in a risk-free environment.

How to Open OANDA Live Account?

Opening a live account with OANDA is a simple process that enables you to trade Forex and CFDs with real capital. The procedure is user-friendly and designed to get you started quickly. Here are the steps to open an OANDA live account:

  1. Go to OANDA’s official website and click on the “Create Account” option on the homepage.
  2. Provide your personal information, including your name, email, phone number, and residential address.
  3. Choose your account type, base currency, and preferred trading platform.
  4. Upload identification and proof of address documents, such as a passport or utility bill, to meet regulatory requirements.
  5. Deposit funds using one of the available payment methods, such as bank transfer, credit card, or e-wallet, ensuring you meet the minimum deposit requirement if applicable.
  6. Once your account is approved and funded, log in to your trading platform to begin trading live.

OANDA Account Opening Review

Additional Tools and Features

Score – 4.3/5

OANDA provides several additional tools and features to enhance the trading experience beyond its standard offerings.

  • These include VPS hosting services, which allow traders to run automated trading strategies without interruption, ensuring a stable connection for executing trades.
  • Additionally, OANDA offers trading signals from third-party providers, which help traders identify potential market opportunities based on technical indicators and patterns. These features are especially valuable for traders looking to optimize their strategies and improve trading efficiency.
  • The broker also provides an API, which enables traders to customize and automate their trading strategies further.

OANDA Additional Tools Review

OANDA Compared to Other Brokers

OANDA stands out in comparison to its competitors in several key aspects. Its spread-based account has an average spread of 1 pip, which is competitive, although some brokers like Spreadex and Tradeview offer lower spreads starting from 0.3 pips. However, OANDA’s commission-based account is highly favorable, offering low spreads of 0.1 pips plus a fixed $5 commission per 100,000 traded, making it an attractive option for high-volume traders. This contrasts with other brokers like Forex.com and XS, which also offer commission-based accounts but with different terms.

In terms of platforms, OANDA offers a broad selection, including its web platform, MT4, MT5, and TradingView, providing excellent flexibility for traders.

OANDA’s asset variety is limited compared to competitors like Spreadex and Forex.com, which offer far more instruments. This can be seen as a drawback for traders seeking access to a wider range of assets.

While OANDA’s educational resources are generally good, with webinars and market analysis tools, they may not be as extensive as those offered by brokers like Forex.com, which is known for its comprehensive educational content.

Overall, OANDA offers a competitive and reliable trading environment but may fall short in asset variety compared to some of its competitors. However, its strong platform options, favorable commission structures, and regulatory coverage make it a solid choice for many traders.

Parameter OANDA Spreadex Forex.com XS OneRoyal Xtrade Tradeview
Spread Based Account Average 1 pip Average 0.6 pips Average 1.3 pips Average 1.1 pips Average 1 pip Average 2 pips Average 0.3 pips
Commission Based Account 0.1 pips + $5 commission per 100,000 traded For Stock CFDs Only (Commission of 0.15%, Maximum of 3.5 points) 0.0 pips + $5 0.1 pips +$3 0.0 pips + $3.50 No commissions, based on fixed spreads 0.0 pips + $2.5
Fees Ranking Low/ Average Low/ Average Average Average Average Average Low/ Average
Trading Platforms OANDA Web Platform, MT4, MT5, TradingView, fxTrade Spreadex Web Platform, TradingView MT4, MT5, Forex.com Web Trader, TradingView MT4, MT5 MT4, MT5 Xtrade WebTrader MT4, MT5, cTrader
Asset Variety 100+ instruments 10,000+ instruments 6000+ instruments 1000+ instruments 2,000+ instruments 1,000+ instruments 200+ instruments
Regulation CFTC, NFA, FCA, ASIC, IIROC, MFSA, MAS, FFAJ, BVI FSC FCA FCA, NFA, IIROC, ASIC, CySEC, JFSA, MAS, CIMA ASIC, CySEC, FSCA, FSA, LFSA ASIC, CySEC, VFSC, FSA, CMA FSC, FSCA MFSA, CIMA, FSC, FS
Customer Support 24/5 24/5 24/5 24/5 24/5 24/5 24/5
Educational Resources Good Good Excellent Limited Good Good Good
Minimum Deposit $0 $0 $100 $0 $50 $250 $1000

Full Review of Broker OANDA

OANDA is a well-established broker known for its reliable trading environment, offering a range of trading services along with a strong regulatory presence in major jurisdictions like the US, UK, and Australia.

The broker provides a solid range of research tools and educational resources, including webinars, trading guides, and live market analysis, making it suitable for both beginner and experienced traders. OANDA also offers access to research tools like Autochartist, which helps traders analyze market trends and identify potential opportunities.

However, OANDA’s asset variety is somewhat limited, which may be a downside for traders looking for a broader range of assets.

Overall, OANDA is a strong choice for traders seeking a reliable platform with competitive pricing and good educational resources. Its solid regulatory standing and range of tools make it suitable for most traders, though those seeking a wider asset selection may want to explore other options.

Jamie Ferguson From United States | | Friday, October 8, 2021

This company is terrible. They will not return your deposits. I have filed a complaint with the NFA and the CFTC. It may takes months to get the deposit back. STAY AWAY FROM THE THIEVES!!!

  • CVC Capital Partners Asia Fund acquired retail trading platform OANDA

    Private capital firm CVC Capital Partners has acquired a retail FX broker OANDA, after partnering with Blackstone and acquisition of one of the online payments specialists Paysafe. No price or other financial terms of this deal were disclosed OANDA was established in 1995 and is known as one of the global online trading platforms, analytics...

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  • NinjaTrader added City Index and OANDA to its brokerages list

    NinjaTrader LLC has added two new forex brokerage service providers, OANDA and City Index, and gave the opportunity for its forex trading clients to diversify their investments. These two forex brokerages are now available on the NinjaTrader platform. NinjaTrader LLC. is a software development company which owns and supports all related technology, including the NinjaTrader...

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  • OANDA CEO Vatsa Narasimha is leaving his position

    After serving as CEO of the retail brokerage for over 2 years, Vatsa Narasimha has decided to leave his position for personal reasons. Now the retail broker is looking for a new CEO. Vatsa Narasimha will continue working for the company as a Non-Executive Director.With a demonstrated track record in driving growth among both financial...

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  • OANDA hired a new Chief Operating Officer, Asia Pacific

    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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  • OANDA makes its leadership stronger with new appointments 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...

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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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Crispus Nyaga Content Creator
Crispus Nyaga is an investment analyst with great experience in financials. His expertise spans various domains, including Petroleum, Statistical Data Analysis, and Technical Analysis. Crispus is proficient in utilizing advanced tools to conduct in-depth market research and data analysis. Also, he has an academic background - holding a Master’s degree in Business from Kenyatta University.
George R. is a wide-ranging expert with experience in analysis and writing. Currently serving as a Senior Writer at 55brokers.com. In addition to this role, he has been the Chief Market and Broker Analyst since June 2020. He has played a crucial role in providing in-depth analysis and insights into the financial markets. With nearly a decade of experience as a Foreign Exchange Trader, George brings a deep understanding of market dynamics and trading strategies. His previous positions include serving as the Chief Market Analyst at SVS Securities Plc.
Eno Eteng is a highly skilled and certified financial technician with a Diploma from the UK Society of Technical Analysts. As a pioneer alumnus of the Tony Elumelu Foundation's (TEF) Entrepreneurship Program (class of 2015), Eno has been a prominent figure in the financial content industry since 2009. Over the years, Eno has crafted more than 5,000 ghost-written articles for major industry players, including InvestooGroup, EasyMarkets, eToro, Spotware Systems, and high-profile clients like the Chief of Staff to the Delta State Government of Nigeria.

12 responses to “OANDA”

  1. Am from Nigeria and I tried to create an account I was told that my region can’t create, why are we restricted? Are we not part of the world?… Please enable us partake what others are benefiting from oanda trading system, am pleading

  2. Hi l would like to open an account with you guys but lm Wondering if you accept iti number so l can create an account

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

    • 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.

  4. 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!

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