Oanda Ratings & In-Depth Review
|Broker Type||Market Maker|
|Regulations||IIROC, CIPF, NFA, FCA, CFTC, ASIC, MAS|
|Account Base Currency||AUD CAD EUR GBP HKD JYP SGD CHF USD|
|Trading Platforms||Web trading, Metatrader 4, Oanda desktop trading platform|
|Markets||Forex, CFD’s, Indics, Bonds, Metals, Commodities|
|Funding Options||Debit/credit card, Bank wire, checks, ACH, Paypal (not USA), BACS, SEPA transfer|
Other Oanda Reviews
Oanda In-depth Review
Overview: Oanda is a leader in currency data that offer forex and CFD trading. They have offices around the world in San Francisco, Toronto, London, New York, Singapore, Tokyo and Sydney. It is a member of the National Futures Association in the United States. Oanda is regulated in many countries which include Australia, UK, Canada, Japan, Singapore and the United States. Variable spreads, low minimum deposits of $1.00, no minimum trade size no commission or account maintenance fees makes Oanda a popular trading platform for institutional and individual customers. It is a great broker for beginners with there low minimum deposits.
Accounts: Oanda offers only one type of trading account. This means that clients have limited choices, but it also means that all members have an equal footing and they to don’t cater to one type of trader. No minimum deposit is required, but trades are only possible with at least $1.00 in their account. Oanda is highly suitable for inexperienced traders who don’t want to invest a large sum of money to practice trading. The demo account lets traders test out Oanda’s award-winning platforms that are available for live trading, with live prices and spreads that doesn’t expire.
Minimum Deposit: $1.00
Maximum Leverage: 1:50 in most countries, Some countries offer 1:100.
Features: Oanda offers variable spreads the EUR/USD averaging 1.4 pips. Trading platforms that are available include the custom fxTrade, MetaTrader 4 and their mobile formats. The fxTrade platform has powerful tools and charts for analysis and lets traders use multiple sub-accounts to trade multiply accounts at once. The fxTrade platform features market analysis, depth of market, personalized layouts and financial news. The popular MetaTrader 4 platform will also be familiar to many Forex traders. Oanda’s website also features useful tools section where traders can look at advanced charts, MT4 indicators, technical analysis and the trading performance portal.
Education: Traders enjoy webinars on Live market analysis, basics of trading, on demand learning and premium webinars available to clients. Their education section is not as in-depth as some other brokers that cater to beginners.
Deposits/Withdrawals: Bank wire, credit/debit cards, PayPal, checks, and UnionPay.
Customer Service: Support is available 24/7, 5 days a week via email, live chat or phone across Oanda’s global offices.