OANDA – Forex Broker review

OANDA – Forex Broker review
3.8 (75%) 4 votes

Read OANDA forex broker review, rating and detail information for their services below. OANDA is a forex broker based in San Francisco, California that provides forex trading services around the globe, established in the mid 1990s. The company is said to be founded by Dr Michael Stumm and Dr. Richard Olsen. When the online trading platform FXTrade was launched in 2001, it was the first fully automated forex trading platform. OANDA offers trading on commodities, bonds and stock indices in addition to forex. It uses its own fxTrade platform and offers a companion app. The program lacks some of the features we look for but is still an above-average trading platform. OANDA has no commissions and uses the bid/ask spread as a broker markup.

OANDA Detail Information

Company OANDA
Founded in 1995
Online since 1997
Offices in Canada, Japan, Singapore, Switzerland, United Arab Emirates, United Kingdom, United States
Payment options Check, Credit/debit cards, PayPal, Wire transfer
Demo platforms Oanda Platform
Account currencies Australian dollar, Canadian dollar, Euro, Great Britain pound, Hong Kong dollar, Japanese yen, Singapore dollar, Swiss franc, United States dollar
Currency pairs
AUD/CAD AUD/CHF
AUD/HKD AUD/JPY
AUD/NZD AUD/SGD
AUD/USD CAD/CHF
CAD/HKD CAD/JPY
CAD/SGD CHF/HKD
CHF/JPY CHF/ZAR
EUR/AUD EUR/CAD
EUR/CHF EUR/CZK
EUR/DKK EUR/GBP
EUR/HKD EUR/HUF
EUR/JPY EUR/NOK
EUR/NZD EUR/PLN
EUR/SEK EUR/SGD
EUR/TRY EUR/USD
EUR/ZAR GBP/AUD
GBP/CAD GBP/CHF
GBP/HKD GBP/JPY
GBP/NZD GBP/PLN
GBP/SGD GBP/USD
GBP/ZAR HKD/JPY
NZD/CAD NZD/CHF
NZD/HKD NZD/JPY
NZD/SGD NZD/USD
SGD/CHF SGD/HKD
SGD/JPY TRY/JPY
USD/CAD USD/CHF
USD/CNY USD/CZK
USD/DKK USD/HKD
USD/HUF USD/INR
USD/JPY USD/MXN
USD/NOK USD/PLN
USD/SAR USD/SEK
USD/SGD USD/THB
USD/TRY USD/TWD
USD/ZAR ZAR/JPY
Regulated by CFTC/NFA, 0325821; FCA (UK), 54257; FSA (Japan), 1571; Kanto Local Finance Bureau (Japan), 2137
Website available in Chinese, English, French, German, Italian, Japanese, Korean, Portuguese, Russian, Spanish
Support available in Chinese, English, French, German, Japanese, Korean, Russian, Spanish
Support methods Email, Live chat, Phone, Web form
Trading server time zone EST

OANDA Features

  • Interest rate on funds
  • Trading contests
  • Free education
  • PAMM accounts
  • Segregated accounts
  • Managed accounts
  • US traders are welcome

Account Types

  • OANDA Account
    • Trailing stop
    • Pending orders
    • One-Cancels-Other (OCO) orders
    • One-click trading
    • Mobile trading
    • Browser-based platform
    • Automated trading

OANDA Review and Rating

OANDA is a trustworthy company with strong regulation. To open an account with OANDA doesn’t require a minimum deposit and has no minimum lot size. Because of this, OANDA becomes too popular among small retail traders. OANDA has many powerful charting tools and research material for their clients. Most noteworthy, they also have a great user friendly web trading platform. As a result, OANDA has almost 20% share of the retail forex trading market and continue to grow.

Support
70%
Platform
80%
Tools
90%
Commission
90%
Education
80%

Pros

  • Strong regulation
  • Low competitive Spreads
  • Powerful research tools
  • Great charting tools
  • Response Customer Support
  • No Minimum diposite
  • No Minimum lot size
  • User friendly web platform

Cons

  • Cryptocurrencies not available
  • MT4 Platform not supports EA
8.2

Average Score

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