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OANDA Guide – Read our In-Depth OANDA Review

This OANDA review has been updated for 2021 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.

Please note that due to regulations, the content in this OANDA review does not apply to US users.

This OANDA review contains the most recent information about OANDA.

If you are a new entrant in the world of trading and brokerage, so many facts will be confusing for you. Getting into the area of trading requires expert assessing skills and comprehensive knowledge. You will get proficient at all the concepts of broker as you keep trading. For starters, you have to select the right agent who will be transparent with you constantly.

In this fast-paced world of stock markets and trading, you'll need guidance to make correct decisions. A professionally direct investment program will generate hefty returns. OANDA is just one such platform which will take you along with your investment to great heights. It is crucial to understand all about OANDA before you trust them with your cash.

OANDA review

Our full OANDA Review covers everything you will need to learn about trading using OANDA. A fantastic agent can multiply your first investments and provide you favorable profits. If you would like to make profits, you must trade with a broker service that aligns with your investing objectives.

There is no sure-fire way to guarantee profits; thus, you should carefully analyze your broker before you select them. It's a frequent misconception that all agents are exactly the same, but that's not correct. Wrong judgment, initially, can put your investments at risk.

OANDA is a broker that has found its way successfully into the brokerage world. In this review, we have attempted to collate some of the important aspects of OANDA. This review can help you to know whether OANDA is a fantastic match for your investments or not. We have attempted to breakdown all the features and charges for your advantage.

OANDA Review, Table Of Contents

Who are OANDA?

OANDA is a foreign exchange broker headquartered in United States, Canada and provides a variety of instruments for trading. Since its beginning in 1996, OANDA has emerged as a top player in the industry of online broker. OANDA includes an extremely competitive and full-featured trading site that's focused on currency, indices, metals, sharesand commodities.

Over the past 25 years, OANDA has grown into one of the leading online brokers.

After launching in 1996, their customer base is becoming as large as 10,000+ clients.

OANDA is the favorite of many traders.. Our OANDA review discovered that they're an superb choice for automated trading options. They're best suited for investors who are searching for an assortment of assets. Social and automated trading options are the heart at OANDA.

Technology plays a significant role at OANDA. OANDA features trading on MT4, OANDA Desktop, OANDA Web, OANDA Mobile. OANDA is fair, transparent, and also a well-regulated broker by the Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC). Their outstanding variety of resources will be beneficial for most traders. Third-party partnerships also provide in-house research.

The trader resource section at OANDA is very insightful for new dealers as it permits them to have a closer look in the financial markets. OANDA caters to all sorts of traders and are a must-have broker for almost any well-diversified method of online trading.

Benefits of doing online trading with OANDA?

Trading with OANDA includes many benefits. These benefits are what sets OANDA apart from the rest of the online brokers. You should check all the advantages listed so you have a better understanding of OANDA.

The broker goes to great lengths to comprehend what traders need. As a result, the support cost is low, fast, and convenient. The agent also gives a variety of platforms for all types of traders. OANDA helps to ensure that the individual needs of all traders are duly met.

OANDA also includes excellent trading conditions which are readily available to only an elite class of institutional clients. The tight spreads and quick executions are a fantastic advantage for those traders. The technology adopted by OANDA is of the maximum caliber, ensuring that it's fast, reliable, and efficient.

OANDA admits the importance of owning a fast order execution. A fast execution will allow users to exchange without worrying about slippage safely. It is going to also help the dealers to catch the utmost profitable opportunities.

Automated trading is another important aspect of OANDA. A new trader can learn from business experts using the automated trading option. The tight spread begins from as low as 0.0 pips, even though they are available for only razor balances.

OANDA has over 100 trading instruments to support all types of traders. These tools are lively and convenient for both new and seasoned traders. The dealers can set aside all their concerns when trading using OANDA.

OANDA overview

Year Founded: 1996

Regulated By: Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC)

Hedquarters: United States, Canada

Minimum Deposit: $1

Number Of Clients: 10,000+

Losses can exceed deposits

If you feel that OANDA is not right for you then at the bottom of this OANDA review you wil find a lot of alternatives to OANDA.

Everything you ought to know about trading with OANDA

OANDA is a lively platform that provides various techniques of trading online. These tools cover the financial markets substantially. The Majority of the brokerage platforms provide fewer procedures than OANDA

If you would like to exchange with OANDA, you'll require a minimum deposit of $1. This deposit is compulsory if you wish to start trading with OANDA. This 2021 OANDA review will direct you safely about trading with them.

OANDA is as flexible as another brokerage platform. OANDA is excellent for traders who want a manageable range of cheap services. The programs supplied by OANDA are third-party, white-label offerings. All traders can select from MT4, OANDA Desktop, OANDA Web, OANDA Mobile.

Together with everything, OANDA has multiple benefits to new and verteran traders and should be investigated. There's no minimum time over which a trade must be kept available. The brokers offer premium customer service which rewards customers with advantages.

Many unethical brokers attempt to pressurise consumers into larger financing for superior services. OANDA, on the other hand, is more concentrated on trading volume. Traders can expect trading conditions to be reasonable, honest and transparent. The more lots traded by the consumer, the further benefits will come along.

OANDA accounts are available globally and provides outstanding service wherever they have customers. There are only a select few countries where OANDA accounts are not available. Traders in the following countries cannot open or use a OANDA account:

Is OANDA Safe To Trade With?

Established in 2006, OANDA has been in operation for 25 years, they have a head office in United States, Canada.

OANDA is regulated by Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC). These figures have rules that ensure that trading platforms have ploicies in place to maintain investor's assets secured. This usually means that OANDA users don't need to worry about their money since it's segregated and safely stored in established banks. SSL encryption secures every user's private information also.

You can make use of a choice for Two Factor Authentications (2FA) with OANDA for increased safety. An SMS with the confirmation code will be sent to your phone. You will be asked to input this code to log into your accounts.

Another concern with fiscal brokers is in respect to safety may be manipulation of trading. This is highly disadvantageous to consumers on these platforms. Nonetheless, this is much more widespread in the example of Market Maker brokers who compete with customers on the stage.

Pro's & Con's Of Trading With OANDA

Every online trading platform will have a few ups and downs, and no OANDA review would be complete without showing both sides. This OANDA review covers both the pros and cons you need to know before you make an account. A comparative analysis can put things into perspective so that you are aware of what to expect.

OANDA Pro's

  • OANDA is trusted by 10,000+ clients
  • OANDA doesn't charge inactivity fees
  • OANDA doesn't charge deposit fees
  • OANDA doesn't charge CFD fees
  • OANDA offer trading on MT4, OANDA Desktop, OANDA Web, OANDA Mobile
  • OANDA offer 100 trading instruments
  • OANDA trades major forex pairs
  • OANDA trades minor forex pairs
  • OANDA trades exotic forex pairs
  • OANDA can communicate in

OANDA Con's

  • OANDA does not offer Negative Balance Protection
  • OANDA does not offer Guaranteed Stop Loss
  • OANDA charge withdrawal fees
  • OANDA doesn't offer trading on cryptocurrencies

OANDA Review - Compare Brokers Similar To OANDA

OANDA Binance Bitfinex VPE Bank
Rating 4/5 4/5 4/5 4/5
Minimum Deposit $1 $100 $100 $5000
Year Founded 1996 2011 2015 2008
Headquarters United States, Canada Australia New Zealand Germany
Regulated By Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC) Unregulated Financial Services Provider (FSP) The Federal Financial Supervisory Authority Bundesanstalt f?r Finanzdienstleistungsaufsicht (BaFin), Financial Industry Regulatory Authority (FINRA)
Clients 10,000+ 10,000+ 10,000+ 10,000+
Find Out More
Risk Warning Losses can exceed deposits Your capital is at risk Your capital is at risk Your capital is at risk

OANDA Review - Regulation And Licencing In More Detail

OANDA is regulated by Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC).

OANDA, as a business, has a strong collection of rules for ensuring honest trading on its platform. For data encryption purposes, it provides an industry-standard secure socket layer (SSL).

In accordance with the company's privacy regulations, client information is never to be shared with any other institutions or individuals. Including credit history and other financial information.

OANDA Review - Awards

    At the time of writing this OANDA review, they had not received any awards.

OANDA Review - Minimum Deposit Required

The minimum deposit you need to get started on OANDA is $1. This is a decent amount for people just beginning. You can make more advanced deposits as you go along. But, make certain that you know how to make the most of your money before investing larger amounts.

OANDA Review - Commission And Fees Explained

OANDA is an online brokerage platform, and many online brokerages charge lower prices than traditional brokerages tend to charge. The reason for this is that the companies of online brokerages are scaled much better. In other words, an internet broker is not necessarily influenced by the number of clients they have.

However, this does not mean that online brokers don't charge any fees. They charge fees of varying rates for various services to make money. There are primarily three different types of fees for this objective.

The first kind of fees to look out for are trading fees. Whenever you make a genuine trade, like buying a stock or an ETF, you are charged trading fees. In such cases, you're spending a spread, financing rate, or even a commission. The kinds of trading fees and the rates differ from broker to broker.

Commissions can be fixed or dependent on the traded quantity. On the flip side, a spread refers to the difference between the buying and selling cost. Financing or overnight prices are people that are billed when you hold a leveraged position for more than daily.

Aside from trading fees, online brokers also bill non-trading fees. These are dependent on the activities you undertake on your account. They're charged for surgeries like depositing cash, not trading for long periods, or withdrawals.

Generally, OANDA doesn't charge high fees in comparison to other online brokers. For operations other brokers fee for, they do not charge a brokerage fee, or they charge a smaller sum. This can be beneficial for those who often trade, such as weekly or daily trading.

However, non-trading fees billed by OANDA are relatively higher. Consequently, you're billed more for non-trading activities on your trading account, like withdrawal and deposits. These are not about the sale and purchase of resources.

This OANDA review breaks down each of the applicable non-trading charges for you in detail.

Compare broker fees against OANDA

OANDA Binance Bitfinex VPE Bank
Minimum Deposit $1 $100 $100 $5000
Withdrawal Fees variable $25 $35 $10 variable
Inactivity Fees No
Deposit Fees No
CFD Fees No

OANDA Review - Withdrawal Fees Explained

OANDA charges a withdrawal fee if you create a bank transfer. Each time you transfer money into your bank accounts, these withdrawal charges become applicable.

Withdrawal of cash is possible at any time from the OANDA account. You can draw up sums to the amount of your account balance, keeping aside the perimeter used. One thing to keep in mind is that you don't always have to have any money on your accounts.

Moreover, the withdrawn money will be transferred directly to the accounts you use to make deposits. Therefore, if you used a credit card for deposits, the withdrawn cash is going to be sent to the card. OANDA will ask you to offer other withdrawal methods if your details have changed since your deposit.

There is a minimum withdrawal amount. In case you are withdrawing cash in different currencies from USD, a conversion fee is also applicable. The conversion fee will be dependent on the currency you're opting to withdraw in.

OANDA Review - Inactivity Fees Explained

Understanding whether you will be charged inactivity fees is only one of the buzzing questions that run through your mind when open an account with OANDA. An inactivity fee is an amount charged to registered dealers who have not engaged in purchasing or selling for a while. The period considered inactive is decided by the agent.

The inactivity fee differs from one agent to another and isn't generalized. If a traders account does not have a purchasing or selling trade, it's claimed by the broker as an inactivity fee. The traders have to pay this fee under conditions and terms they had consented while registering.

OANDA doesn't charge inactivity fees so you are free to utilize your account as needed

Even if no fees have been indicated by OANDA, it's better that you close the account if you are inactive. Inactivity fees aren't only charged by brokerage firms but also many financial services.

For other trading platforms, the inactivity fee is contingent on the sort of account you've selected. The inactivity fee is exposed to a lot of circumstances and needs to be revealed clearly by the agent beforehand.

OANDA Review - Deposit Fees Explained

When you transfer money in your trading account by your bank account, a deposit fee can be billed by the broker. Most brokers don't charge an excessive amount of money for this particular operation.

OANDA doesn't charge deposit fees so you are free to transfer smaller amounts of money in more regularly if needed

Depositing money on the OANDA trading platform is easy. You just need to complete a single-user profile survey to begin depositing money into your trading account. You will need to provide an identity evidence and proof of residency to deposit substantial sums.

OANDA Review - Compare Broker Deposit Methods

OANDA Binance Bitfinex VPE Bank
Minimum Deposit $1 $100 $100 $5000
Credit Card
PayPal
Neteller
Skrill
Payoneer

What Can You trade With OANDA?

Note: OANDA provides a lot of different trading instruments due to regulatory restrictions in a few countries. Trading instruments offered will differ based on the country of residence of the client.

OANDA has a wide variety of over 100 instruments available for you to trade with.

If trading currency pairs is of interest to you then OANDA offer over 55 forex pairs.

Compare OANDA, Binance, Bitfinex & VPE Bank below.

OANDA Binance Bitfinex VPE Bank
Platforms MT4, OANDA Desktop, OANDA Web, OANDA Mobile Desktop, Android, iPhone/iPad, Mac Android Apps, iPhone/iPad, Desktop MT4, MT5
Instruments Available 100 52 55 251
Forex & Crypto
Forex Pairs Available 55
Offers Major Forex Pairs? Yes No Yes Yes
Offers Minor Forex Pairs? Yes No No No
Offers Exotic Forex Pairs? Yes No No No
Offers Cryptocurrencies? No Yes Yes No
Commodity CFD's
Commodities Offered 0 0 0 0
Trade Metals? Yes No Yes Yes
Trade Energies? Yes No Yes Yes
Trade Agricultural? Yes No Yes Yes
Indiced & Stock CFDs
Stocks Offered 0 0 0 0
Trade UK Shares? No No No Yes
Trade US Shares? No No Yes No
Trade German Shares? Yes No No No
Trade Japanese Shares? Yes No No No


Losses can exceed deposits


Your capital is at risk


Your capital is at risk


Your capital is at risk

Alternatives To OANDA

If, after reading this OANDA review, OANDA doesn't meet your needs check out these OANDA alternatives.

We have scoured the web to find the best alternatives to OANDA. Click on the hyperlinks below to learn more.

Frequently Asked Questions about OANDA

Can I try OANDA before I buy?

Yes, you can most certainly try OANDA before you buy. OANDA offers demo accounts for the convenience of inexperienced traders. You can use this feature to build your faith in the machine as well as yourself and your trading strategies.

If you sign up for a demo account on OANDA, you may set out using a decent amount of virtual currency. It's to establish a feeling of security and confidence in you before you decide to invest your own money.

With this virtual OANDAdemo account, you can experiment in any way, to whatever period you desire. You might also open positions, examine different trading strategies, and much more.

OANDA specifies on its official site which you are able to exchange real time stocks with your demo account.

Is OANDA safe?

It is possible to drop all of your worries because we believe that OANDA is totally safe to use. It's in compliance with all the principles of Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC).

Nevertheless, OANDA does not provide assured stop-loss protection.

Why does OANDA ask for my passport?

The reason that OANDA asks for your passport when you open a live account is to ensure that it remains within the rules of its regulated bodies. Because there is a lot of money moving around the world, OANDA has to be careful that they don't breach any money laundering laws and part of that is know as KYC (Know your customer). This means that at all times, OANDA must know exactly who they are dealing with so that if there is any investigation they are comfortable that they are well within the law.

How can I start trading with OANDA?

The process to start trading withOANDA is perhaps simple enough to be a cakewalk. You need to begin by signing up on the OANDA website. It will require you to fill in details pertaining to the credibility and security of your account.

Once you are done setting up your profile, you must deposit a minimum amount to get started. The minimum deposit for a live acocunt with OANDA is $1. You should have a good hold over the nuances of online trading before you set out and trade with real money.

If you are confident of your knowledge and understanding, you can open an account with OANDA.

The best way to kickstart your trading career with OANDA is to open a demo account facility before risking any real money

What funding methods do OANDA accept?

There are a number of ways to finance your account with OANDA. The process is effortless and quick, with different payment methods in your fingertips.

You can use debit or credit cards Which range from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal can be at your disposal for depositing funds. You must bear in mind that PayPal is not available in all country. The monies OANDA

Is my money safe with OANDA?

Yes, your money is safe and protected with OANDA. As you already know, OANDA works with proper conformation to. It's established lots of measures to guard all its investors.

OANDA protects its clients' personal and sensitive information under SSL encryption. Your funds will be retained highly secure in top-tier banks.

If you wish to further protect your accounts, you can enable Two-Step Verification as well. It requires an SMS affirmation for you to get your accounts.

Is OANDA trading good?

Yes, trading via OANDA is a nice and decent experience indeed. It's a great and intuitive platform with useful features for your simplicity. In addition, you could also gain access to a vast collection of educational resources and assistive substance to kickstart your trading experience.

If you are still skeptical, it is possible to start a eToro demo account and assess the trustworthiness of the platform on your own.

Which Countries does OANDA support?

OANDA operates around the globe. However, due to regulations there are some countries that OANDA can't accept clients resident in

Is OANDA legit?

OANDA is a legit company headquarted in United States, Canada since 1996. They are regulated by Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC). OANDA is an acclaimed fintech company, which operates with transparency. You will not have to bear any hidden costs or be a victim to any scams.

Is OANDA a good broker?

OANDA is a great agent, and its users may vouch for this. The highlight of the platform is its quick order execution on trades.

You'll find the clean design of the platform along with the admirable features that a pleasure to work with.

Is OANDA a trustworthy broker?

Yes, OANDA is a trustworthy broker. Top-tier financial authorities regulate all operations. Over 10,000+ users registered with them can reaffirm their trustable nature.

What is the minimum deposit for OANDA?

The minimum deposit to open a live account with OANDA is $1

How long do OANDA withdrawals take?

Normally, withdrawal of money from OANDA is actioned within a couple of working days but depending on the withdrawal method chosen, it could take up to 7 working days for the withdrawal from OANDA to show in your bank account.

Are OANDA regulated?

OANDA are regulated by Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC)

Is OANDA a market leading broker?

OANDA is indisputably among the business leaders. It supports over 10,000+ registered customers and over 25 years of expertise on its own record. They're one of the world's leading trading platforms and a prominent figure in the Fintech revolution.

It simplifies this status to its incredible platform and broad selection of tools plus resources so you can invest in capital markets.

Is OANDA a con?

No, OANDA is not a con. They are regulated by Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC) and must adhere to their rules. Thus, it is safe to say that OANDA is not a scam.

Can you make money with OANDA?

Through OANDA, many traders earn a lot of cash. But on average, through continual trading, you also can make between 2% - 10% profit a month.

This may seem to be a small number, but within the entire year, this adds to a substantial amount of gains. Even though OANDA provide you all of the tools to earn money, they cannot guarantee that you will profit.

Does OANDA have fees?

Yes. To start trading with OANDA, you have to deposit $1. Certain commissions while trading also apply. Any processing fees from your bank will have to be incurred by you.

When was OANDA founded?

OANDA was founded in 1996 in United States, Canada. OANDA is regulated by Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC).

How many people use OANDA?

OANDA is a globally recognised agent with 10,000+ customers.

Where is the OANDA head office?

OANDA has its head office in United States, Canada

Does OANDA offer negative balance protection?

No. OANDA does not provide negative balance protection. If your balance is negative, OANDA indicates you promptly contact client services. With this, you can fix any imbalances in your own account.

Does OANDA offer guaranteed stop loss?

OANDA regrettably, does not provide guaranteed stop loss. OANDA gives an opportunity for its dealers to close their trade in their specified price. Apart from this, OANDA doesn't provide guaranteed stop loss.

Does OANDA allow scalping?

Yes, OANDA do permit scalping. Several traders across the world choose OANDA for their services that are trading. They offer trading on MT4, OANDA Desktop, OANDA Web, OANDA Mobile which let this.

Does OANDA allow hedging?

Yes, OANDA does allow hedging.

Can you trade energies with OANDA?

Yes, you can trade energy stocks with OANDA

Can you trade agricultural shares with OANDA?

Yes, you can trade agricultural stocks with OANDA

Can you trade cryptocurrency with OANDA?

No, unfortunately you cannot trade cryptocurrency with OANDA

Can you trade metals with OANDA?

Yes, you can trade metals with OANDA

Can you trade UK Shares with OANDA?

No, unfortunately you cannot trade UK shares with OANDA

Can you trade US Shares with OANDA?

No, unfortunately you cannot trade US shares with OANDA

Can you trade Japanese Shares with OANDA?

Yes, you can trade Japanese shares with OANDA

Can you trade German Shares with OANDA?

No, unfortunately you cannot trade German shares with OANDA

Does OANDA accept bank transfers?

No, OANDA does not accept bank transfers.

Does OANDA accept credit cards?

No, OANDA does not accept credit cards.

Does OANDA accept PayPal?

No, OANDA does not accept PayPal.

Does OANDA accept Skrill?

No, OANDA does not accept Skrill.

Does OANDA accept Payoneer?

No, OANDA does not accept Payoneer.

Does OANDA accept Neteller?

No, OANDA does not accept Neteller.

Does OANDA offer Live Chat customer support?

No, OANDA does not offer customer support through live chat.

Does OANDA offer phone customer support?

No, OANDA does not offer customer support over the telephone.

Does OANDA offer email customer support?

No, OANDA does not offer customer support through email.

What languages can OANDA communicate in?

OANDA has the ability to communicate and support customers who speak:

Does OANDA have a wikipedia page?

No, OANDA does not have an official wikipedia page.

Does OANDA offer demo accounts?

Yes, OANDA offers demo accounts so you can learn their systems before risking any real money.