OANDA – an overview of an interesting forex broker

Min. deposit
1$
Min. trade price
1$
Website address
https://www1.oanda.com/
Demo account
No
Currency
EUR GBP USD
Supported languages
Eng Rus
Active
Yes
* The amount that will be credited to the account in the case of a successful deal

Trustpilot Real Time Reviews

Star

The Trustpilot rating is 2,
according to 127 reviews

4.5 Stars
Dunald Laufur
Dunald Laufur
stars
ca
Used them few years ago. Had good experiences.

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Ayad Zerarki
Ayad Zerarki
stars
dz
hello there I am a new user on the oanda.com platform, There was a misunderstanding with support at first Because I deposited by Paysera company card No refunds or profit withdrawals are accepted I thought the company was a scam But I opened an account in another bank that was accepted and I withdrew my profits with my money back The company's platform is smooth There is no problem with withdrawal and deposit I think it's a very reputable company, only there is a problem with the support, it can get it wrong sometimes I recommend it, as the platform does not stop or crash during the market-moving economic news

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Nailah Lovell
Nailah Lovell
stars
us
I’ve been using Oanda since 2016. I’ve had no problems with deposits and timely withdrawals. Spreads have been pretty low as well. Oanda is one of my many go to brokers.

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David Garces
David Garces
stars
gb
This is the best broker by far to practice and improve your risk management using real money. They are one of the few where you can place orders as small as $1 (contract size) in any currency pair or 1 barrel of oil for example (whereas you will need at minimum $10,000 currency pair contracts or 100 barrels of oil in a micro contract at the exchange). The integration with TradingView makes it even better so that you can trade directly from the charts for more accurate positioning. I won't give them 5 starts because their account management site is quite outdated, and has a very poor user interface. Their chat service uses pop-ups that don't work in Safari, and you need to go through several steps to get a report on daily Profit/Loss (including exporting to CSV and using your own tools to work out your figures).

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madsen-a
madsen-a
stars
pl
I'm a beginner investor, so I don't have a lot of expectations. OANDA seems to just work! I'm happy so far. Also, the customer support is beyond what I've ever seen, I got some emails and even a phone call to support me if I had any questions and to help me learn to trade.

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Buai*
Buai*
stars
au
Ive recently had an account with OANDA (Ive tried a few lately), and I found them to be very helpful and reasonable, and their fees etc are acceptable and pretty standard. I would have no problem trading with them at all. Im pretty sure most of the negative reviews here are bogus. Its a shame this website doesnt have the same quality it once did. I have more criticism of Trustpilot than OANDA. They're no longer managing the site (very well) it seems. Shame about that.

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Ami Bb
Ami Bb
stars
ca
One of the best brokers.

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Edward Munroe
Edward Munroe
stars
gb
I'm surprised to read so many bad reviews about Oanda. I have traded with them on and off for years and I have always found their service pretty good. There are a few issues in that the execution is not always perfect. Slippage is usually very small with the largest I have seen around 0.3 points on a fast moving dax market. The only thing that stops me giving 5 stars is that they have floating spreads on indices. Most brokers are moving to fixed spreads for this sort of instrument. Deposits and withdrawals are always fine, I've gone in and out with funds several times over the years and it's always been fine. The only thing I would add to that is that it would be nice for there to be a same day withdrawal option by paypal. Overall I would recommend them.

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Alfonso Ramon
Alfonso Ramon
stars
es
I like their web platform. The currency converter is great!

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Tan Ying Xiang
Tan Ying Xiang
stars
my
I rated 1-star for their unhelpful and slow response. Back to 4-star because of the helpful service by their sales person. Frontdesk staffs mostly clueless on the technical issues.

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DCT Dominicans Can Trade
DCT Dominicans Can Trade
stars
do
I am really surprised with all the bad reviews I found here. I opened an account with Oanda 1 month ago, the charts are the same as TradingView, I find it great. They asked me for a lot of things that no other broker asked me before, because of US regulations, honestly I have not made a withdraw yet but the “withdrawal” option is enabled, it was not until I provided them with reuired Documents like Bank account Statement with my adress on it, after I loaded it up the option was enabled. It must work to withdraw. Leverage is max x50, I miss options like x75 or 100. They don’t let you trade stocks because of US regulations I guess. Customer service is great, most of brokers out there put you a robot to answer questions, I get assistance directly from an Oanda agent by e-mail or phone, very professional staff. Final comment: So far so good.

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jim
jim
stars
us
i have enjoyed using this broker and there set up is very good. they have a nice lay out and great customer support network. its great that they are on trading view as you can see the true price across different platform

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George.
George.
stars
gr
Good Broker!

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Proteza Verbala
Proteza Verbala
stars
gb
OMG so many fake comments , all this Scammers that try to sell you services has nothing to do with the ONADA review. well maybe are some real ones but it make very hard to make your own research. atm i can't decide with what broker to work with...:( advicce for trustpilot is to control all this scammers it will be so easyer for being more secure and honestly reviews

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Lee Davies
Lee Davies
stars
gb
I have used Oanda for years now, they have always been quite good, offering me good service and good customer support. Trading conditions aren't the best ever but never really had any issues.

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Denis
Denis
stars
tr
I have been working with them for quite some time. Never had any issues whatsoever. If something goes wrong support will always help you. One of the trusted companies out there.

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Doug Scott
Doug Scott
stars
bg
Their platform is just great! Low spreads and swaps, fast execution. Withdraw happens in a few days. Good and kind support team! A+++++

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Stephen S.
Stephen S.
stars
us
my favorite broker! i won't use anyone else

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David H
David H
stars
gb
I’ve been with Oanda for a couple of years and there are many good things to say about the experience. The FX Trade Charts are fantastic, especially the web trade version. Lots of options for setting up the charts, and there are lots of indicators (a lot more than most brokers). What’s really great though is the quality of the indicators; great colours, and they can be more customised than with many other brokers. The platform is very stable and I’ve never had any problems placing or amending orders or closing out trades. So essentially, all the technical stuff is great. Room to improve? Yes, two areas; Support staff don’t seem to have any logical thought process, and are happy to give you any answer just so long as they can provide an answer. I’d rather they said they didn’t know than just make wild guesses. I’ve never taken any cash out so I don’t know what that’s like. Putting cash in is hard work though, with all of my cards being rejected several times. They blamed my bank but I was able to make a deposit with IG the same day with one of the same cards. Never did find the cause of the problem and the deposit went through when I tried again a week later. Despite the above, I’ll be staying on due to the quality of the product.

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lenny aikens
lenny aikens
stars
us
one of the most professional brokers i have every used! i love them and will never go back

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  Overview of popular forex brokers: OANDA

Among experienced traders (regardless of nationality), there is a group of amateur traders in financial assets who have developed their own rule for choosing a reliable broker. In order not to waste time and effort on the analysis of a huge number of various trading platforms, they take two main indicators – the “age” of the company and the number / reputation of organizations involved in regulating the activities of these participants in the global financial market. Additionally, some traders study the assets provided and the broker’s priorities, but this is already a secondary factor. In this regard, OANDA forex broker is almost an ideal company:

● it is registered in 1995 (!);

● its activities are controlled by the most authoritative institutions known to each representative of this field of activity;

● The company’s clients are firms and corporations with legendary names: The Times British Airways, RBS, United Continental, and others.

But how much a similar approach when choosing a broker corresponds to the real state of affairs. Are the listed parameters enough to calmly register an account on a trading platform, for example, on OANDA, without fear of any “pitfalls” from this company? Consider in more detail this issue.

 

OANDA – forex broker review

 

The main indicators of OANDA that affect the broker rating

Created by highly qualified specialists in the field of finance and modern methods of online trading (Dr. M. Stumm and Dr. R. Olsen), in 2001. became the first fully automated trading platform on Forex. Processing, the unprecedented number of operations, without failures, errors, etc., OANDA quickly took the position of the most advanced company, daily attracting thousands of new customers from around the world. But can a given participant in the global financial market ensure the safety of money and personal information of its clients while working in this mode?

Trader safety

 Today, requests from users of the presented trading platform are provided by: created for such companies as OANDA application, as well as the MT4 platform, which is well-known to all participants of online trading. This is quite enough to conclude financial transactions, regardless of the location of the trader (the main thing is the availability of a high-quality Internet connection) and the used mobile devices, computers or laptops. High-quality software is a guarantee that customer data will be completely secure.

User verification sometimes lasts 1-2 weeks. This, of course, is very annoying for newbies, but thanks to this procedure, fraudsters or other suspicious individuals do not penetrate the broker’s website. Deposits of traders are stored on separate accounts in well-known banks, which allows the administration of the resource to settle accounts with its customers at any moment if they decide to leave the trading floor.

The broker support service works round the clock, six days a week (except Saturday). The service specialists will answer your questions or help solve technical and financial problems in the shortest possible time. For communication, you can use: phone, chat, email or a special form on the OANDA web resource.

Regulators

One of the main arguments in favor of the fact that the broker is in compliance with financial legislation and does not use fraudulent schemes in its work is the presence of licenses / documents issued by regulatory agencies. In this case, such organizations are:

● Japan Financial Services Agency (JFSA).

● UK Financial Services Authority (FCA).

● Regulatory Investment Authority (Canada).

● Monetary Authority MAS (Singapore).

● CFTC and NFA (USA).

The listed list of institutions (some of them have the status of state) for many traders are 100% reason to register for OANDA login without fear of unforeseen “pitfalls”.

Training

The presented company does not pay so much attention to training beginners, as a sufficiently large number of less reputable brokers. The entire training course is limited to the study of foreign exchange and CFD trading. Additionally, users of the site can get access to analytical information, news, as well as some historical facts and examples, which often become useful for preparing real financial strategies.

Having a demo account on OANDA allows novice traders, even with minimal theoretical preparation, to immediately begin practice. This function allows you to make real financial transactions using virtual currency. You save money, but gain real practical experience.

OANDA Key Trading Indicators

The administration of the trading platform in question is of the opinion that there is no point in isolating customers, starting from their financial capabilities. Therefore, there is only one standard trading account on a web resource. Such a decision is welcomed by many traders who believe that it is not fair to provide users of the site with benefits and additional services just for depositing several thousand dollars.

Trading Terms

In some reviews prepared on OANDA, there are certain deviations, which, as a rule, are explained by the period of their compilation, as well as by how deeply the author has studied this issue. For example, the statement that the company was created in 2001 is absolutely not true. This is the launch date of automated trading on Forex, which the unscrupulous “analyst” confused with the registration of the broker.

Key trading conditions:

● The minimum deposit is absent (in some sources it is indicated $ 1, which is partially true, a smaller amount, as a rule, is not carried out by the payment system).

● Maximum leverage is 1:50.

● Minimum bid – not set.

● Affiliate program – not available.

● Islamic account – no.

● Automatic trading – yes.

Deposit and withdrawal

Many reviews compiled about OANDA call the limited number of methods for input / output of financial resources as the main disadvantage of the trading platform. For these purposes, traders are offered to use: plastic cards (debit and credit), PayPal or bank transfers. Well, that is very little for 2018!

Assets

For work on the trading floor you can use: currency pairs, CFD contracts, commodities, indices, precious metals and bonds. Given the wide variety of assets in each group, we can say that the broker presented, in this case, fully meets the needs of the modern trader.