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OANDA Review 2024

Ben Johnson
Forex Broker Expert

oanda

5 / 5 – 56 Ratings

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OANDA Corporation is a well known FX broker in the US. trusted and regulated for over 25 years. OANDA is registered in the United States and offers a wide variety of financial services to its clients in the majority of nations across the world. The business was established in 1996 and is now governed by four countries. Oanda operates via several entities worldwide and is regulated by top-tier authorities, such as the US Commodity Trading Futures Commission, National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC).

Highlights

Brokers Name

OANDA

Trading Desk

Market Maker

Year Founded

1996

Headquarters

United States

Regulation

National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC)

US Clients

🇺🇸
Only residents of USA

247 Support

✔️

Support Email

frontdesk@oanda.com

Telephone

+1 877 626 3239

Address

USA with official entities in Canada, the UK, Japan, Singapore, & Australia

Languages

English

Accounts Details

Commission

$0

Account Name

Elite trader

Min. Deposit

0

Base Currencies

USD, EUR, HKD, SGD,CAD, AUD, JPY, CHF, GBP

Order Execution

Market Еxecution

Max. Leverage

Starting Spreads

0 pips

Trade Size

0.01

Instruments

Forex, Crypto, Indices, Metals, Oils

Demo Accounts

✔️

Swap-Free

✔️

Crypto Trading

✔️

CopyTrading

Platforms

Trading Platform

MT4 desktop, web and mobile, fxTrade Mobile, TradingView

Mobile Trading

✔️

Web Trading

✔️

Affiliate Program

✔️

Funding

Deposit Methods

Visa debit cards, Mastercard debit cards, ACH deposits, Bank transfer

Withdrawal Methods

Visa debit cards, Mastercard debit cards, ACH deposits, Bank transfer

Pros

  • Award-winning platforms
  • Innovative trading education
  • Transparent pricing
  • Over 68 major and minor currency pairs
  • Volume-based rebates
  • Exclusive discounts on third-party platforms, such as TradingView
  • VIP content and events
  • A dedicated relationship manager

Cons

Not Found
5 / 5 – 56 Ratings

OANDA Corporation is a well known FX broker in the US. trusted and regulated for over 25 years. OANDA is registered in the United States and offers a wide variety of financial services to its clients in the majority of nations across the world. The business was established in 1996 and is now governed by four countries. Oanda operates via several entities worldwide and is regulated by top-tier authorities, such as the US Commodity Trading Futures Commission, National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC).

Oanda Regulation

OANDA is Authorized and regulated by National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC).

OANDA Corporation is a registered Futures Commission Merchant and Retail Foreign Exchange Dealer with the Commodity Futures Trading Commission and is a member of the National Futures Association. No: 0325821. More Information is available using the NFA Basic resource.

OANDA Trading Accounts

OANDA offers two different account types. Standard and Advanced Trader accounts offer a range of benefits, including two pricing options, 24-hour support and a host of platform features and account advantages.

Standard Account

  • 70 FX pairs
  • Minimum account balance US$0
  • No Dedicated relationship manager
  • Web and desktop platforms, MT4 and mobile apps
  • No Unlimited free wire transfers
  • Core pricing + commissions
  • Spread-only pricing
  • API trading
  • 24/5 support
  • Variable contract sizes (as low as 1 unit)
  • OANDA trading performance analysis dashboard
  • MT4 open order indicator Updates every 20 minutes
  • No Priority service queues

Advanced Trader accounts

  • 70 FX pairs
  • Minimum account balance US$10,000
  • No Dedicated relationship manager
  • Web and desktop platforms, MT4 and mobile apps
  • Unlimited free wire transfers
  • Core pricing + commissions
  • Spread-only pricing
  • API trading
  • 24/5 support
  • Variable contract sizes (as low as 1 unit)
  • OANDA trading performance analysis dashboard
  • MT4 open order indicator Updates every 5 minutes
  • Priority service queues

Trading Products

FOREX

OANDA offers competitive spreads on 70 forex pairs, including all the majors and minors. Our range of platforms includes the award-winning* OANDA Trade platform, as well as MetaTrader 4 – the preferred platform for forex traders globally.

OANDA offers two pricing models: spread-only and core pricing plus commission. OANDA pricing models are clear and transparent. The pricing engine aggregates live prices, in real time, from our liquidity providers and calculates a mid-point. A custom-built pricing algorithm automatically calculates the spread symmetrically around the midpoint for each tradable instrument on our trading platform. This mid-point fluctuates throughout the day as wholesale prices change.

Available FX Trading Instruments

EUR/USD, USD/JPY, GBP/USD, USD/CHF, EUR/JPY, EUR/CHF, EUR/GBP, GBP/JPY, GBP/CHF, AUD/USD, NZD/USD, USD/CAD, AUD/JPY, CAD/JPY, CHF/JPY, NZD/JPY, AUD/CAD, AUD/CHF, AUD/NZD, EUR/AUD, EUR/CAD, GBP/AUD, GBP/CAD, CAD/CHF, EUR/NOK, EUR/NZD, EUR/SEK, GBP/NZD, NZD/CAD, USD/NOK, USD/SEK, NZD/CHF, USD/MXN, USD/CNH, USD/HKD, USD/SGD, SGD/JPY, USD/TRY, USD/ZAR

Cryptos

You can now trade a batch of popular cryptos on OANDA’s intuitive platform with powerful tools. Only 3 simple steps to start crypto trading with OANDA powerful mobile app.

Available Crypto trading Instruments

BTC, ETH, LTC, BCH, PAXG, LINK, MATIC, UNI, AAVE

  • Step 1 – On your OANDA mobile app, or the OANDA account management website, you will see a message that prompts you to open a crypto account with Paxos Trust Company, OANDA’s crypto services provider.
  • Step 2 – Next, your request will be reviewed by Paxos. This usually takes about 15 minutes. Upon approval, tap complete application.
  • Step 3 – After you’ve deposited or transferred funds to your crypto account, you can start trading.

Advantage of trading crypto through the OANDA app:

  • User-friendly app with charting and access to two-way streaming prices
  • Easy, low-cost account funding and withdrawal
  • Fund your crypto account in the same easy and low-cost way as your forex account
  • Manage risk using limit and stop orders

OANDA Trading Platform

OANDA have two traditional platforms MT5, MT4 and one award-winning trading app.

OANDA Trade desktop platform

OANDA commitment to innovation lies at the core of our platform technology. OANDA Trade offers powerful charting, a suite of trading tools, sophisticated trader analysis and more.

OANDA Trade desktop platform advantage

  • Place, view and close trades and orders directly from your charts
  • Choose from 10+ chart types, ranging from basic line charts to the more advanced Renko and Kagi
  • 10 chart layout types to suit different trading styles
  • 50+ drawing tools, including Pitchforks, Gann Fans and Elliot Waves.
  • Create multiple trading profiles and set up trade defaults
  • Drag windows out onto multiple screens to set up your chart layout
  • Add or remove trading tools to match your level of trading skills

OANDA Mobile trading app

Trade forex and cryptos easily with OANDA mobile trading app. Access full range of currency pairs and popular cryptos along with advanced mobile charting functionality for smarter trading.

OANDA Mobile trading app advantage

  • React to market activity in real time by managing positions, controlling risk, and monitoring account profitability
  • Set up automated custom notifications on price alerts, order expiry, upcoming economic calendar events, and global market news from leading providers
  • Customize chart sizes tailored to your trading style. Set up the number of preferred units traded, risk and profitability levels
  • Add funds directly to your trading account from your mobile phone (not available everywhere)
  • Customizable trading alerts ensure you never miss out on a trading opportunity when on the move
  • Price signals let you select drawing tools and overlays; push notifications trigger when the candle crosses your selected drawing tool
  • Set alerts and notifications about daily/weekly highs, significant price moves, AutoChartist technical analysis and market highlights and events

OANDA Trade web platform

OANDA also offer award-winning web trading platform. Their powerful platform combines an intuitive interface, a suite of technical analysis tools, a sophisticated charting package and more.

OANDA Trade web advantage

  • Take advantage of market volatility with faster trading times
  • View a snapshot of pending orders and current positions with innovative trading tools
  • Advanced technical analysis includes our orderbook overly, position ratios, and a news aggregator with a search function
  • Unbiased technical analysis based on the past six months’ stats
  • Access advanced technical analysis and algorithmic trading on the web with Algo Labs, powered by Quant Connect

MetaTrader 4

OANDA MT4 premium upgrade gives you access to a range of enhancements including additional indicators and expert advisors (EAs) such as mini charts, OCO orders, tick-chart and keyboard trading, chart-ladder order entry, five-minute orderbook and alert trading.

OANDA MetaTrader 4 Advantage

  • Build trading algorithms
  • Backtest your trading strategies
  • Use existing algorithms to enhance your trading strategy.
  • Nine time frames and multiple displays
  • Five candles per week on the Daily NY Close Charts
  • Over 50 built-in indicators
  • Use one-cancels-the-other (OCO) for breakouts or reversions
  • Trigger actions including trades with alarm manager
  • Trader positions and orders updated every 5 minutes with our five-minute orderbook
  • Trigger trades on the cross of a trendline with smart lines
  • Capture market movements via the keyboard trading tick-chart trader
  • Access 28 new applications and indicators.

Contacts

Support Email Address –

Email – frontdesk@oanda.com

Phone

Toll Free # per region (# will be routed to the active CX desk globally)
-Toll free in Canada and the United States: 1 877 626 3239
-United States: 212-252-2129

Disclaimer – OANDA Corporation is regulated by the CFTC/NFA. OANDA is a member Firm of the NFA (Member ID: 0325821). CFDs are not available to residents in the United States.

Crypto Disclaimer – OANDA CORPORATION IS A MEMBER OF NFA AND IS SUBJECT TO NFA’S REGULATORY OVERSIGHT AND EXAMINATIONS. HOWEVER, YOU SHOULD BE AWARE THAT NFA DOES NOT HAVE REGULATORY OVERSIGHT AUTHORITY OVER UNDERLYING OR SPOT VIRTUAL CURRENCY PRODUCTS OR TRANSACTIONS OR VIRTUAL CURRENCY EXCHANGES, CUSTODIANS OR MARKETS.

The promotion is being shared here solely for informational purposes. Please note that this should not be considered as financial advice.

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