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.
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.
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.
Oanda 8/10 (votes 4776)
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I've tried Oanda's broker and always found poor execution on their fxTrade platform. So my orders go 10-30 slippage positions. Special it happens in a big news event. So I can’t deal well with my Investment from Oanda broker.
Actually, I am not pleased with Oanda. They suddenly increased their margins two times, slippage is most often and frozen trading platforms every half an hour. Their support staff does not answers my questions; send you in a phone circle to the other rude teenagers. Nothing good with this broker.
I'm so happy to trade with Oanda. I have a standard account trading EUR/USD and USD/CHF. Every trading is executed properly in the right positions. No slippage or requotes happened so far I'm trading with them. I have earned a profit. Also, I like their withdrawal process, which only takes 6 hours. Oanda is a reliable broker. I would recommend Oanda to all my friends.
Oanda is an established broker that is why you can be certain that your funds will be safe with this broker. I have started my trading journey with them two years ago and I am still loving my experience until now. The company keeps on making improvements on their services to ensure that we get the best experience.
Recently, just win a trade of EUR/USD position and decided to withdraw $200 of the profit. I prefer Wire Transfer for payment processing. Also they have no comissions for anything. I think their minimum deposit required is very affordable and excellent for investing in different currencies. It very suits for newbie.
I deposited $300 to my account and could see the process was quite fast. I even earned some profit and then I withdrawed. I use MT4 Micro platform for my trading. Usually I go for GBP/USD, USD/JPY , CAD/JPY. I made profit on average $500 per month.
I’m grateful to trade with oanda broker. I preferring their low spreads and Stable platform so far. In the MT4 platform I can set a position instantly, even my long order I am tension free from the spread. My profit can be withdrawn instantly via in an hour. Honestly, they are helpful to traders by given educational articles, analysis, trading ideas and investment tips on youtube. So I am able to do my business profitably with Oanda Forax
I am still working to improve trading strategy and Oanda have teach me on how to have proper money and trade management, it is still works. I have started initial deposit of $100 to trading account and now profit is growing consistently with proper trading strategy. I had at least 5 times get the profit and it was almost $600. So glad to trading with them. Recommended broker for a newbie. Their customer really cares to their customers. Thankyou !
I first heard about Oanda on during one of my classes. My professor shared a few of his experiences with this broker and encouraged us to try Forex trading. At first, I did not pay attention to it. But a year later, I saw this broker again through an advertisement and there were a lot of positive feedback so I got interested. Then I realized it was the same broker my professor was talking about back then. I took some from my savings and invested it on this broker. The start was a little rough, there were a lot of mistakes but I eventually learned and now I am satisfied with all the profit I earned. I would also like to note that this broker helped a lot in my learning process.
Opening an account at Oanda in 2014 was one of the best life choices I made. They have sophisticated platforms which runs smoothly. They don't have a minimum deposit requirement which makes them accessible to all levels of traders. With my almost 5 years of trading with them, I have always been assisted by the support team when there are problems. And they make sure to always address the issue right away. I've already made many withdrawals and they are always transferred within the day or until the next day. My overall withdrawal is approximately over $20,000 already. No regrets trading with this broker at all.
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