OANDA
TradingDominance Score™: 89/100
Our Rating:
4.9/5

Website

Headquarters

New York, United States

Year Established

1996

Min Deposit

$0

Max Leverage

1:50

Regulation

Australia - AU ASIC
United Kingdom - UK FCA
Cyprus - CY CYSEC
USA - (CFTC)
Canada (IIROC)
Singapore - MAS

Website

Year Established

1996

Min Deposit

$0

Max Leverage

1:50

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OANDA Financial Instruments
Forex
Stock CFDs
Commodities
Oil and Energies
Gold
Indices
Precious Metals
Other Features
Negative Balance Protection
Regulatory Deposit Insurance
Accepts Japanese Clients
Accepts Canadian Clients
Scalping Allowed
Trading API
Trailing Stops
Interest on Margin
Variable Spread
Allows hedging
VPS Trading
Offers MT4
Account Type
Information
Standard
  • Commision: $40 commission per million USD traded
  • Maximum Leverage: 1:50
  • Typical Spread: 0.1
  • Mobile Platform: MT4 Mobile, OANDA Trade Mobile.
  • Trading Platform: MT4, OANDA Trade
  • Spread Type: Variable Spread
  • Minimum Deposit: 1
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: No
Premium
  • Commision: $40 commission per million USD traded
  • Maximum Leverage: 1:50
  • Typical Spread: 0.1
  • Mobile Platform: MT4 Mobile, OANDA Trade Mobile
  • Trading Platform: OANDA Trade, MT4
  • Spread Type: Variable Spread
  • Minimum Deposit: 10000
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: No
Regulators
Australia - AU ASIC
United Kingdom - UK FCA
Cyprus - CY CYSEC
USA - (CFTC)
Canada (IIROC)
Singapore - MAS
Information:
Company NameOANDA
Year Funded1996
HeadquartersNew York, United States
Office Locations Singapore, Sydney, Tokyo, London, Frankfurt, Kraków, Gzira, New York, Toronto
Client Funds Bank(s)JPMorgan Chase Bank, HSBC
Account CurrencyAUD, CAD, CHF, EUR, GBP, JPY, SGD, USD, HKD
Support Languages Arabic, English, French, German, Italian, Polish, Russian, Japanese, Chinese
Funding MethodsBank Wire, PayPal, Credit Card
Financial Instruments Forex, Stock CFDs, Commodities, Oil and Energies, Gold, Indices, Precious Metals
24 hour support✔️
Segregated Accounts ✔️
Islamic Accounts
Accepts Canadian clients ✔️
Accepts Japanese Clients ✔️
Non expiring demo✔️
Cent accounts
Negative balance protection ✔️
Social trading
Regulatory deposit insurance ✔️
Trailing stops✔️
Bonuses
Interest on margin ✔️
Fixed spread
Variable spread✔️

OANDA Review

,
Trading Dominance Team

TradingDominance is an Introducer for this Broker.

OANDA is a US broker who is one of the giants in the industry. The company was established in 1996. It is a private brokerage firm therefore not listed on any of the stock exchanges. OANDA is an online trading broker that is subject to financial regulation and supervision by the most prestigious global regulatory authorities. Whereas, OANDA is regulated and supervised by the US Commodity Futures Commission, the National Futures Association (CFTC) and the UK Financial Conduct Authority (FCA).

OANDA Regulations

Not only that, but OANDA is regulated by 6 regulatory and supervisory authorities. Within your country and where you are located there will be at least one regulation authority to which your country is subject. Let’s list these six reregulation authorities as

  • OANDA is regulated and supervised in the USA by the Commodity Futures Trading Commission (CFTC) as it is a retail foreign exchange broker.
  • OANDA is a member of the National Futures Organization with registration number 0325821
  • OANDA is subject to financial regulation in Canada by the Investment Industry of Canada (IIROC) with a license from Canada OANDA Corporation ULC. In addition, OANDA’s traders in Canada are protected by the Canadian Investor Protection Fund.
  • OANDA Europe LTD is regulated and supervised by the UK Financial Conduct Authority (FCA) with license number 542574 with fund protection up to £ 85,000 by the FSCS.
  • OANDA Asia Pacific Pte LTD is subject to financial regulation and supervision by the Monetary Authority of Singapore.
  • OANDA Australia Pty LTD is subject to financial regulation and supervision by the Australian Securities and Investments Commission with AFSL License Number 412981.
  • OANDA Japan LTD is subject to financial regulation and supervision by the Financial Futures Organization of Japan with subscription number 1571.

Six high-profile regulatory and financial authorities  are subject to OANDA, the industry’s long-established brokerage firm. The safety factor here is the highest in the industry. Whatever your presence in the world, there will be at least an active regulation that guarantees your financial rights.

Opening OANDA Trading Account

 

OANDA offers Standard and Premium accounts. Most of the traders with OANDA start a demo account with a standard trading account in order to experience the OANDA trading environment. The company is very flexible when it comes to making deposits as there is no minimum deposit.

You can benefit from trading on margin in order to achieve a higher profit return, but the leverage offered by OANDA varies depending on which country you are in. But it is largely a flexible leverage that helps you achieve the best for your investment goal without exaggerating your capital to a great extent.

If you reside in the United Kingdom, there is the possibility of having a sub-account completely tax-free. Regarding OANDA PREMIUM, with a deposit of 20 thousand US dollars or its equivalent, you can open the premium account. Once the account is opened, you will get a dedicated account manager and flexible transfer system without any fees. Other than that, both accounts, the Standard and Premium, do not have this huge amount of differences.

OANDA, until now, does not offer a system of swap – free Islamic accounts. With OANDA you will get a distinct trading environment with an easy and simple interface to view all the transactions and applications that you use on your  trading platform.

Open your account with OANDA in just a few minutes, just fill in the information and send the files, and your personal data will be verified and the account will be activated within several days. Check your e-mail frequently as they usually request specific details via email in order to verify complete details of your personal data.

  • Basic personal data: full name – country – date of birth – proof of identity – phone number.
  • Additional information about the nature of your field of work, what is the average income.
  • Technical information on trading in general, and the goal is to know your level and accordingly to provide advice on account types, financial leverage, and whether you need additional educational lessons or not.
  • Upload a copy of the proof of personal identity based on your country, your bank account data. In some cases, photos are requested directly ” Selfie ” in order to verify your account.

Deposit & Withdraw & Fees

OANDA is one of the largest trading brokers globally and has a prominent role in the industry. The company’s latest research indicates that up to 73.5% of traders worldwide are exposed to loss, and indeed lose, and this is subject to a variety of reasons, most of which are lack of emotional control in addition to a lack of experience and education.

Withdrawal and deposit services with OANDA. The company offers multiple withdrawal and deposit options, starting from bank transfer, electronic wallets, credit / debit cards and the electronic payments giant PayPal. As for deposits in a trading account with OANDA, they are free as the company does not charge any fees for deposits. You can also make sure of this by directly contacting the company’s technical support.

Of course in this industry, wiring money is extremely accurate and according to the anti-money laundering laws. Your name must be identical, so that you can easily deposit and withdraw without any problems.

Spread with OANDA 

Like any online broker , the company makes its profits from the spread and margin trading. The spread calculation system is fully automatic by means of OANDA algorithms. The spread at OANDA starts from 0.1 and varies for every currency pair it is traded on.

User Experience with OANDA


Let’s talk about the OANDA trading environment here, and does the company offer a simple and fluid trading environment? If you are already a trader in the markets and used to performing MT4 to execute trades and follow the market up-to-date, the company provides MT4 in its original version without any additions, which may prompt you to try OANDA Trade’s technology and platform, which is top rated by most traders.

Rated by traders as one of the best trading platforms in terms of speed of execution, new trading tools for managing risk. The possibility of full control of the platform, customization and modification on the main interface to suit your entire trading method. So, you have to use MT4 as a trader accustomed to this platform in executing trades, or moving and experiencing the trading environment provided by OANDA Trade, which the company is always working on developing and updating to reach the easiest and smartest way of trading at all.

OANDA always works to provide the best for traders and this comes through programming many distinct trading tools that will provide an ideal trading environment.  OANDA offers comprehensive charting as well as access to a distinct set of applications and tools in cooperation with TradingView that you can easily integrate with the trading platform for a distinct trading experience.

All of these tools and more help you primarily in seizing trading opportunities, following the market smarter, and smartly controlling risk management.  It is indeed a comprehensive trading platform that supports the trader and is keen to provide the trader with the best in order to achieve profit and improve the trading plans to successfully implement your investment goal. OANDA always strives for the trader to have the tools necessary to excel and create opportunities.

Customer Support

OANDA provides a distinguished support service around the clock, 5 days a week. You can communicate with them via phone or email, in addition, to live chat in order to communicate faster to solve the problem that you may face.  But OANDA claims that most of the questions that may come to a trader’s mind are largely answered by FAQs provided on the website. 

OANDA believes that from this page the trader can find and solve their problem faster. OANDA is a company with a high level of transparency and management and is a unique model in the industry.

OANDA Review – Final Thoughts

OANDA is considered one of the pioneers of this industry, subject to financial regulation and supervision by high-level financial authorities, as we mentioned above that it is subject to 6 supervisory and regulatory ones in the world to accept all traders from all over the world.

It offers two types of trading accounts that you can choose between. The standard account with no minimum deposit and the premium account with a minimum of 20 thousand dollars or the equivalent of this amount in your currency. Spread, The company claims to offer distinguished and competitive spreads.

OANDA is very distinctive in its trading platform, which provides a distinct and smooth trading environment and uniquely supports the traders by providing the necessary tools in order to seize trading opportunities more and achieve and implement trading strategies effectively.

In addition to its partnership with various service providers in order to provide a variety of charts and applications that help the traders to fully control and follow the market in an intelligent way. You must definitely go through this experience.

Speaking about the distinction of OANDA, its educational platform, Market Pulse, is one of the strongest features of the company as it serves as an integrated educational section that provides many news, market analyzes, new trading ideas, various trading strategies as OANDA has fruitful cooperation with TradingView and Autochartist that will help OANDA to be the one stop platform for the traders, which enhances the value of the company for traders.

Withdrawal and deposit options with the company are varied, and the company does not request any fees on deposit operations, but the name must match so that you do not suffer from any problem at all.

The company OANDA is characterized by transparency, good management and advanced technology that provides a comprehensive trading environment for traders. We definitely advise you to experiment with this broker yourself by opening a standard account without any minimum deposit, experimenting with their trading environment and making use of the educational platform as much as possible in order to develop your trading strategies and learn new ones.

 

OANDA Information

Company NameOANDA
Year Funded1996
HeadquartersNew York, United States
Office Locations Singapore, Sydney, Tokyo, London, Frankfurt, Kraków, Gzira, New York, Toronto
Client Funds Bank(s)JPMorgan Chase Bank, HSBC
Account CurrencyAUD, CAD, CHF, EUR, GBP, JPY, SGD, USD, HKD
Support Languages Arabic, English, French, German, Italian, Polish, Russian, Japanese, Chinese
Funding MethodsBank Wire, PayPal, Credit Card
Financial Instruments Forex, Stock CFDs, Commodities, Oil and Energies, Gold, Indices, Precious Metals
24 hour support✔️
Segregated Accounts ✔️
Islamic Accounts
Accepts Canadian clients ✔️
Accepts Japanese Clients ✔️
Non expiring demo✔️
Cent accounts
Negative balance protection ✔️
Social trading
Regulatory deposit insurance ✔️
Trailing stops✔️
Bonuses
Interest on margin ✔️
Fixed spread
Variable spread✔️

OANDA Account type Information

Account Type
Information
Standard
  • Commision: $40 commission per million USD traded
  • Maximum Leverage: 1:50
  • Typical Spread: 0.1
  • Mobile Platform: MT4 Mobile, OANDA Trade Mobile.
  • Trading Platform: MT4, OANDA Trade
  • Spread Type: Variable Spread
  • Minimum Deposit: 1
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: No
Premium
  • Commision: $40 commission per million USD traded
  • Maximum Leverage: 1:50
  • Typical Spread: 0.1
  • Mobile Platform: MT4 Mobile, OANDA Trade Mobile
  • Trading Platform: OANDA Trade, MT4
  • Spread Type: Variable Spread
  • Minimum Deposit: 10000
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: No

OANDA FAQs

Yes, OANDA's customer support team remains available 24/5.
Yes, OANDA keeps clients' funds in segregated bank accounts.
No, OANDA does not offer Islamic Accounts.
Yes, OANDA accept clients from Canada.
Yes, OANDA accept clients from Japan.
Yes, clients can use a non expire demo account.
No, OANDA doesn’t offer a cent account at the moment.
Yes, OANDA does offer negative balance protection.
No, the broker does not offer social trading services.
In the unfortunate case that you are facing issues with Oanda Withdrawal, your best chance would be to reach out to the support team at Oanda. https://oanda.secure.force.com/helpportalcountryselection

OANDA Review Countries

Comments

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