Min. deposit
1$
Min. price
1$
Demo account
No
Currency
Supported languages

* “The amount that will be credited to the account in the case of a successful deal
General Risk Warning: Binary options trading carry a high level of risk and can result in the loss of all your funds

  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.

OANDA – an overview of an interesting forex broker
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General Risk Warning: Binary options trading carry a high level of risk and can result in the loss of all your funds

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