Forex Broker

Oanda review


On-line since: 1996
Country of origin: The United States
Regulation: NFA, CySEC, ASIC, CFTC, MiFID, FCA
Payment options: cheques, credit cards, wire transfers
Minimum account size: 0$
Minimum lot size: 0.00001 lot
Leverage: up to 1:50
Spreads: floating

About the company:

OANDA is one of the pioneers of online trading in the world. The company was founded in 1996 by computer engineering professor Michael Stumm and Dr. Richard Olsen, a specialist in econometric research.

Trading platforms

OANDA offers two trading platforms MetaTrader4 (MT4) and FXTrade WebTrader.

FXTrade has simple but efficient interface and fast execution speed. According to OANDA, the platform executes deals in less than a second. The platform has the function of charts plotting; traders can test their trading strategies, view financial news and market analysis from leading news providers.

Moreover, OANDA offers the MetaTrader 4 platform, which is very popular as it allows traders to fully automate their

transactions. Tech-savvy traders can build their own automated trading systems with the help of OANDA FXTrade API.

Trading conditions

The line of trading assets includes currency pairs, indices, commodities and bonds, CFDs and precious metals.

The good news is that OANDA does not require the minimum deposit to open an account, leaving the decision up to traders. This is especially attractive to those who are not ready to invest a lot of money. The company has one standard account category.

Commission and spreads

The broker offers floating spreads. For the EUR/USD pair, the spread is 1.4 pips on the whole, which is the average in the industry. Spreads for indices start from 0.5 pips.

Clients can make use of commission-free trading as OANDA does not charge commission for its services and for maintenance of accounts. The broker’s earnings come from spreads.

Education and analysis

Traders can learn with the help of video training and webinars. They can monitor up-to-date financial news and experts’ analysis of market trends. In addition to this, traders can take advantage of the economic calendar and articles about Forex, which can be interesting for both newcomers and professional traders.

Client support service

The client support service is available round-the-clock from Sunday (13:00 EST) until Friday (18:00 EST). For more efficient communication, clients are offered to choose the product with which they have difficulties so that they are automatically connected with the right specialist.

Traders can ask their questions by phone, email, fax, chat or by visiting the company’s office in the US, Canada, the UK, Tokyo, Australia, or Singapore.


OANDA is regulated in six countries by local regulatory bodies – NFA, CySEC, ASIC, CFTC, MiFID, and FCA.


The popularity of the broker among traders is due to the option of automated trading, absence of requirements for minimum deposit and trading volume.

Brokers’ advantages:

  • variety of trading platforms;
  • no initial deposit requirements;
  • no restrictions on minimum lot size;
  • no commission for account service.

Broker’s disadvantages:

  • the broker is a market maker;
  • it has low leverage.

Oanda 8/10 (votes 4660)
Author of Oanda: Nieva | Date 2015-12-28
Please stay well away. This broker has a dealing desk but claims to be an ECN broker.
Author of Oanda: Puai | Date 2015-12-17
Sometimes both the orders BUY STOP and SELL STOP gets triggered, though the price has moved in only one direction without even touching the other.Seems to me that this broker is BUCKET SHOP. Beware!
Author of Oanda: Dakken | Date 2015-12-16
This broker provide a great deposit and withdrawal options. Either directly to the broker or to local IB, they complete all the transactions on consistent
Author of Oanda: Cata | Date 2015-12-10
I have been trading with accent for 5 months. Very comfortable conditions for trade. Gentle and polite support.
Author of Oanda: Orlando | Date 2015-12-09
I have been trading with OANDA since July 2010, so 3 months after these are my inputs - positive: low spreads, no minimum deposit, quick service, good customer support (they did replied immediately to my complain), good range of news and market research supplies, some didactic issues for beginners with quality, quick and strong variability on spreads during news events. I have no complains about honesty up to now.
Author of Oanda: Noja | Date 2015-12-07
They forgot to mention in their homepage that their Moneybookers account is in EUR, so by depositing from my Monetbookers USD account
Author of Oanda: isrg3 | Date 2015-12-03
Had to call them. My trading account got deducted today. I am very disappointed with their actions.
Author of Oanda: Loya | Date 2015-11-27
Very good to trade and also have special robot cgat with guranted profit
Author of Oanda: Larsen | Date 2015-11-26
That way I lost extra 20 pips.I do not understand why brokers has excess to the client account. They not suppose to see and change anything.My trading is private and my money is my money not the brokers
Author of Oanda: Wara | Date 2015-11-25
With a wink and a nod you are switched to the pricing of a bank highly unfavorable to you. Now that same bank will give a wink and a nod to the brokers trades with exceptionally favorable pricing on other pairs, making it much easier for them to profit.
Show more

Add comment
Brokers Reviews

30% bonus for EACH deposit
Leverage 1:1000

Forex charts and quotes

Special offers
Start trading with
no risks and investments
With new Start-Up Bonus of $1000
Get bonus
from InstaForex
on every deposit
Earn up to
for inviting friends to get StartUp Bonus from InstaForex
No investments required!