deposit:
- No minimum
Trading platform:
- MetaTrader4
- FSC (BVI)
- ASIC
- IIROC
- FCA
- CFTC
- NFA
- 0%
deposit:
- No minimum
Trading platform:
- MetaTrader4
- FSC (BVI)
- ASIC
- IIROC
- FCA
- CFTC
- NFA
- 0%
Summary of OANDA Trading Company
OANDA is a moderate-risk broker with the TU Overall Score of 5.28 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by OANDA clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews. OANDA ranks 95 among 414 companies featured in the TU Ranking, which is based on the evaluation of 100+ criteria and a test on how to open an account.
OANDA is the optimal broker for experienced traders and professionals. However, it should be noted that the broker focuses primarily on English-speaking clients.
The name OANDA is an acronym for “Olsen & Associates” or “Olsen AND Associates”. It is registered in the United States and provides its clients with a wide range of financial services in most countries of the world. The company was founded in 1996 and is currently regulated in four jurisdictions. The main regulator of the broker is the UK Financial Conduct Authority (FCA). Oanda Canada is licensed by IIROC. The company has several significant awards to its credit, including a victory in the category "Best Forex Trading Technologies" from the UK Forex Awards, "Best Trading Platform" from FX Week, as well as "Best Customer Service" from the US Foreign Exchange Report.
💰 Account currency: | USD, EUR, HKD, SGD |
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🚀 Minimum deposit: | No |
⚖️ Leverage: | Up to 1:200 |
💱 Spread: | From 0 p for currency pairs |
🔧 Instruments: | FX, Indices, Bullion, Commodities, Crypto |
💹 Margin Call / Stop Out: | Stop Out - 50% |
👍 Advantages of trading with OANDA:
- Minimum deposit from 1 dollar.
- A large selection of the most popular trading instruments.
- Several reliable and reputable financial regulators.
👎 Disadvantages of OANDA:
- Inconvenient and poorly functioning site.
- Lack of cent accounts.
- Lack of bonus programs.
Evaluation of the most influential parameters of OANDA
Trade with this broker, if:
- You value transparency as Oanda provides transparent pricing and execution, minimizing hidden fees and potential conflicts of interest. This transparency can help traders make informed decisions and manage their trading costs effectively.
- You prefer a regulated broker as Oanda is regulated by multiple reputable authorities, including the US Commodity Futures Trading Commission (CFTC), the Financial Conduct Authority (FCA) in the UK, and the Australian Securities and Investments Commission (ASIC).
Do not trade with this broker, if:
- You have high leverage requirements as Oanda offers a maximum leverage of 1:200, which may not meet the high leverage requirements of some traders. If you require higher leverage for your trading strategy, you may need to consider alternative brokers that offer such options.
- You are looking for bonus programmes as Oanda does not offer bonus programs, which may be a consideration for traders who seek promotional incentives or additional earning sources as part of their trading experience.
NOTE!
Do not miss a chance to get additional monthly bonuses and payouts for trading at OANDA.
Enter the referral code when you register on the website or OANDA app.
35176
*TU may receive partnership reward for registration of the client on the company’s website on a referral link.
Geographic Distribution of OANDA Traders
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Expert Review of OANDA
The OANDA broker has substantial experience in the Forex market. The company has managed to earn a reputation as a reliable broker who provides its clients with decent trading conditions. The company has only two types of accounts, as well as the ability to open a demo account for novice traders. It does not have cent accounts.
OANDA offers a wide range of trading instruments as well as three trading platforms (MetaTrader 4, WebTerminal MT4, MT5).
The broker's website can hardly be called convenient and functional, which creates some inconvenience for clients.
Latest OANDA News
Dynamics of OANDA’s popularity among
Traders Union’s traders, according to 2023 data
Investment Programs, Available Markets and Products of the Broker
The OANDA broker allows its clients to combine active trading with passive investing. The broker has developed its own service FxManager. The availability of investment programs enables the company's clients to receive additional income, even if they have only just begun trading in the financial market. Additionally, experienced traders can become managers and earn passive income.
FX Manager
This service provides opportunities for clients to invest. To do this, the user just needs to open an account and choose a manager.
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Professional account managers monitor and conduct trading on behalf of multiple clients using the PAMM account management model.
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An automated trading interface allows managers to focus on successful trades rather than administering an account.
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In case of necessity, the user may always change the fund manager if he is not satisfied with the level of profitability.
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It is not required to have any skills or knowledge to start investing, but you need to learn the basic concepts of the Forex market to make your investments profitable.
Each trader may become both an investor and an account manager. You just need to open a personal account, make a minimum deposit, and start trading. Each trader in his personal account has the opportunity to monitor the level of returns on investments and make appropriate decisions about managing his own investments.
Important!
If you are a large investor and plan on investments over $ 10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
OANDA affiliate program:
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The OANDA Affiliate program. A broker's client can receive additional income every month by attracting new clients to the platform. In this case, the amount of such income is from 5 to 15% of the spread of the client referred.
To sum up, we can say that the OANDA broker provides quite loyal (albeit standard) affiliate programs that allow receiving a part of the commission from the broker and create your own referral network.
Trading Conditions for OANDA Users
The OANDA broker provides relatively favorable conditions to its clients. The minimum deposit for a Standard account is $0 and for a Core account it’s $40. The spread size depends on the specific trading instrument (for currency pairs - the minimum is 0 pips (percentage in points). The minimum trade volume is 0.01 lot for all types of accounts. Leverage depends on the specific trading instrument, and the maximum value is 1:200.
No minimum
Minimum
deposit
1:200
Leverage
24/5
Support
💻 Trading platform: | MetaTrader 4, WebTerminal MT4, MT5, fxTrade |
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📊 Accounts: | Standard, Core, Swap-free, Premium, Premium Core |
💰 Account currency: | USD, EUR, HKD, SGD |
💵 Replenishment / Withdrawal: | Visa, Mastercard, Skrill, Neteller and various Alternate Payment Methods |
🚀 Minimum deposit: | No |
⚖️ Leverage: | Up to 1:200 |
💼 PAMM-accounts: | No |
📈️ Min Order: | 0,01 lot |
💱 Spread: | From 0 p for currency pairs |
🔧 Instruments: | FX, Indices, Bullion, Commodities, Crypto |
💹 Margin Call / Stop Out: | Stop Out - 50% |
🏛 Liquidity provider: | J.P. Morgan, Deutsche Bank AG, Royal Bank of Canada |
📱 Mobile trading: | Yes |
➕ Affiliate program: | Yes |
📋 Orders execution: | Market Execution |
⭐ Trading features: | Advisors; Availability of a demo account; A large number of training materials. |
🎁 Contests and bonuses: | No |
Comparison of OANDA with other Brokers
OANDA | RoboForex | Pocket Option | Exness | FxPro | FxGlory | |
Trading platform |
WebTrader, MetaTrader4, Mobile platforms, MetaTrader5 | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Pocket Option, MT5, MT4 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MobileTrading, MT5, cTrader, FxPro Edge | MT4, MobileTrading, MT5 |
Min deposit | No | $10 | $5 | $10 | $100 | $1 |
Leverage |
From 1:1 to 1:200 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:1 to 1:500 |
From 1:1 to 1:3000 |
Trust management | No | No | No | No | No | No |
Accrual of % on the balance | No | No | No | No | No | 8.00% |
Spread | From 0 points | From 0 points | From 1.2 point | From 1 point | From 0 points | From 2 points |
Level of margin call / stop out |
No / 50% | 60% / 40% | 30% / 50% | No / 60% | 25% / 20% | 20% / 10% |
Execution of orders | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Instant Execution, Market Execution |
No deposit bonus | No | No | No | No | No | No |
Cent accounts | No | Yes | No | No | No | No |
Broker comparison table of trading instruments
OANDA | RoboForex | Pocket Option | Exness | FxPro | FxGlory | |
Forex | Yes | Yes | Yes | Yes | Yes | Yes |
Metalls | Yes | Yes | Yes | Yes | Yes | Yes |
Crypto | Yes | No | Yes | Yes | Yes | No |
CFD | Yes | Yes | Yes | Yes | Yes | Yes |
Indexes | Yes | Yes | Yes | Yes | Yes | No |
Stock | Yes | Yes | Yes | Yes | Yes | No |
ETF | No | Yes | No | No | No | No |
Options | Yes | No | No | No | No | No |
OANDA Commissions & Fees
Account type | Spread (minimum value) | Withdrawal commission |
Standard | From $11 | When withdrawing to a debit card - no. When withdrawing to a credit card (once a month) - no. When withdrawing to a credit card (more than once a month) - from USD 15. Withdrawal via PayPal - no. |
Premium | From $11 | When withdrawing to a debit card - no. When withdrawing to a credit card (once a month) - no. When withdrawing to a credit card (more than once a month) - from USD 15. Withdrawal via PayPal - no. |
The broker has a commission for shifting trading positions to the next day (swap). Also, we have compared trading commissions at the OANDA broker with those of other Forex brokers. Each broker was assigned a level from low to high, based on the results of the assessment for this parameter.
Broker | Average commission | Level |
OANDA | $11 | High |
RoboForex | $1 | Low |
Pocket Option | $8.5 | Medium |
Detailed Review of OANDA
OANDA (“Olsen AND Associates”) is an American broker that has been in the financial services market for over 25 years. The company's activities cover traders almost all over the world. The company has a wide range of trading instruments.
A few numbers about the OANDA broker, which will help a trader to choose a reliable broker:
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More than one million clients worldwide.
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More than 25 years of experience in the foreign exchange market.
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The minimum investment amount is USD 1.
OANDA is a decent broker that focuses on working with professional traders.
It is a financial services broker in the Forex market. The company focuses its customers' attention on safety, as evidenced by the availability of licenses from four regulators. The broker also has an extensive network of representative offices and offices worldwide, with its central office in New York. The liquidity providers are reputable banking institutions such as J.P. Morgan, Deutsche Bank AG, and the Royal Bank of Canada.
The company's clients have the opportunity to choose from three trading platforms: MetaTrader 4, WebTerminal MT4, MT5. The mobile application allows you to trade in the financial market using a smartphone running iOS and Android operating systems. Moreover, users of mobile devices have access to the useful "OANDA Alerts" feature, which informs traders about market changes and sentiment.
Useful OANDA broker services:
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Currency correlation charts.
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Training courses and video tutorials.
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Economic calendar and news calendar.
Advantages:
Possibility of passive investment using the Fx Manager service.
Availability of three convenient platforms.
A large number of training materials, videos, and online courses.
Minimum deposit from 1 US dollar.
A wide range of trading instruments.
Availability of a demo account.
The broker has no restrictions on the choice of strategies available to a trader. Hedging and locking orders are allowed. There is a trailing-stop available. There is no information on the minimum duration of the trade retention on the site.
Guide for Traders
OANDA has two types of accounts. The Standard account is more suitable for a novice trader and the Premium account is for experienced professionals. The main differences are in the amount of the minimum deposit and the availability of additional services.
Account types:
Also, the broker provides the opportunity to open a demo account so that the trader can test the trading conditions and learn the trading platform.
OANDA is a broker that is focused on experienced traders.
Investment Education Online
Information
To help the trader, the OANDA website has a separate section, which contains various analytical tools, as well as online training courses and video courses. These materials can be useful for both novice and professional traders.
It is possible to trade on a demo account to test the trading systems.
Security (Protection for Investors)
Information
The OANDA is legit and trusted broker is licensed by four financial regulators.
The main regulator is the UK Financial Conduct Authority (FCA), the license number is 542574. Other OANDA regulators include FSC - BVI (2026433), the Australian Securities and Investments Commission (ASIC, ACN: 603 856 551), and the Investment Industry Regulatory Organization of Canada (IIROC).
👍 Advantages
- Regulations and rules for the provision of financial services of a broker are available on the official website for free.
- The broker has licenses from four financial regulators
- Relations between market participants are monitored and regulated by the most reputable regulator FCA
👎 Disadvantages
- The process, from the moment of acceptance of the complaint to its consideration, takes at least six months
- Claims of traders with small amounts are not considered
- Complex and lengthy complaint procedure
- Claims that relate to compensation for moral damage are not considered
Withdrawal Options and Fees
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The OANDA broker has a rather slow withdrawal of funds.
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The company charges a $15 or more commission for a transfer to a credit card if the withdrawal is made more than once a month.
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There are 3 options for the replenishment of the deposit and withdrawal of money: bank transfer, Visa or MasterCard, electronic PayPal.
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Withdrawals to bank cards usually take 3 to 7 business days. Bank transfers also take 3 to 7 business days. Withdrawal via electronic payment system PayPal takes from 1 to 3 business days.
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Withdrawals are possible in US dollars, Euros, British pounds, Swiss francs, Hong Kong dollars, Singapore dollars, Canadian dollars, Australian dollars, and Japanese yen by bank transfer or Visa / MasterCard. Withdrawals via PayPal are only possible in US dollars, Euros, and British pounds.
Customer Support Service
Information
The support service provides technical and operational support 24/5.
👍 Advantages
- Support in your account
- Feedback form
- Telephone support
👎 Disadvantages
- Does not work on weekends
- Premium account holders are served on a priority basis, the rest on a general basis
- Lack of online charts
- It takes 3-4 days on average to receive an answer
You can contact support in the following ways:
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by phone, as indicated on the website;
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by email;
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by filling out a feedback form.
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by visiting a representative office
Support is available both on the OANDA website and in the personal account in the "Support" section.
Contacts
Foundation date | 1997 |
Registration address | 140 Broadway, 46th Floor New York, NY 10005 USA |
Regulation |
FSC (BVI), ASIC, IIROC, FCA, CFTC, NFA Licence number: SIBA/L/20/1130 |
Official site | oanda.com |
Contacts |
Email:
frontdesk@onada.com,
Phone: 1 877 626 3239, 13000 62632 |
Review of the Personal Cabinet of OANDA
To start trading with OANDA and receive compensation using the Traders Union rebate service, you need to do the following:
Register on the Traders Union website, then use the affiliate link and go to the broker's website. Then press the "Start Trading" or "Create Account" button.
Complete registration. To do this, you must specify your country of residence, first and last name (in Latin), email address, username, create a password, indicate the address of residence and phone number.
Also in your personal account, the following functions will be available to you:
Also, other useful functions will be available in the personal account:
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Account settings.
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Account management.
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Regulations and rules for the broker.
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Technical support and assistance of a personal manager
Disclaimer:
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Find out how OANDA stacks up against other brokers.
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FAQs
Do reviews by traders influence the OANDA rating?
Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about OANDA you need to go to the broker's profile.
How to leave a review about OANDA on the Traders Union website?
To leave a review about OANDA, register on the Traders Union website or you can also leave a review through Facebook.
Is it possible to leave a comment about OANDA on a non-Traders Union client?
Anyone can leave feedback about OANDA on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.
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