OANDA Review 2026

Item: OANDA
Rating: 6.86
Author: Oleg Tkachenko

By: Oleg Tkachenko
Updated: April 13, 2026
3 in the rating

Go to broker

Your capital is at risk.

Min. deposit $0
Fees 8 /10
Account types 7.9 /10
Regulation 10 /10

6.9 /10

Moderate risk

OANDA User Reviews 8.0
Commissions and Fees 8.0
Regulation and Safety 10.0
Account Types 7.9
Deposit and Withdrawal 6.3
Markets and Tradable Assets 6.8
Trading Account Opening 9.0
Trading platforms & tools 9.3
Mobile Apps 7.7
Customer Support 5.4

OANDA Pros & Cons

Minimum deposit starting at $1
Broad selection of the most popular currency pairs
Regulated by several reputable financial authorities

Website is inconvenient to use and poorly optimized
No cent account options for low-risk trading strategies

TU Expert Verdict

OANDA demonstrates moderate stability and can suit certain traders. Its conditions are acceptable, and feedback is mixed but reasonable. In my own tests, it performed adequately, though it lacks the consistency of higher-rated companies.

OANDA User Reviews

Score:

8 /10

256 total

5-star

26%
4-star

50%
3-star

22%
2-star

2%
1-star

0%

TJ Kitt

PRO

1 year ago

overall gd

not interested to tell

The conditions at OANDA are average, so I can give this broker a decent rating.

I have been trading with Oanda for almost six months. I chose this broker because of the low minimum deposit — you can start with just $1, which is rare. Account currencies include USD, EUR, Singapore dollar, or Hong Kong dollar; I used USD. Among the advantages is a wide selection of instruments: Forex, indices, commodities, and cryptocurrencies. Leverage is 1:200, which I used only for EUR/USD and USD/JPY pairs. Spreads on major pairs start from 0 pips, but for less liquid pairs, they sometimes reach 2-3 pips. I haven’t noticed any major issues with withdrawals, although the withdrawal fee via Skrill seemed higher than average.

I compared Oanda with other brokers in terms of conditions for beginners — there is no demo account here, but there are Standard and Core accounts. For the Standard account, the entry threshold is zero; I funded it with a Visa card — everything went quickly. Leverage is up to 1:200, and the average spread on EUR/USD stayed around 0.2 pips. I use the mobile app; it’s convenient in terms of functionality, but I wish it had localization. Regarding withdrawals: $50 was transferred to the card in just over a day, with a 1.5% fee.

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Commissions and Fees

Score:

8 /10

The trading and non-trading commissions of OANDA have been analyzed and rated as having Low fees, with a fees score of 8/10. Additionally, these commissions were compared with those of the top two competitors, FOREX.com and Venom by Cobra Trading, to provide the most comprehensive information.

Low Forex trading fees
Tight EUR/USD market spread
No inactivity fee
No deposit fee
No withdrawal fee

Complex fee structure

Trading Fees and Spread

Below, we evaluated and compared the trading commissions of OANDA with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.

Standard Account Spread

For Standard accounts, OANDA’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.

OANDA Standard spreads
	OANDA	FOREX.com	Venom by Cobra Trading
EUR/USD min, pips	0.1	0.7	0.25
EUR/USD max, pips	0.5	1.2	0.5
GPB/USD min, pips	0.1	0.9	0.25
GPB/USD max, pips	0.5	1.4	0.5

RAW/ECN Account Commission And Spread

The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.

OANDA RAW/ECN spreads
	OANDA	FOREX.com	Venom by Cobra Trading
Commission ($ per lot) The commission is the fee charged by the broker for trading one standard forex lot (100,000 units of the base currency).	3.5	5	1.5
EUR/USD avg spread	0.15	0.2	0.1
GBP/USD avg spread	0.2	0.4	0.1

Non-Trading Fees

We conducted a detailed analysis of the non-trading fees associated with OANDA. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.

OANDA Non-Trading Fees
	OANDA	FOREX.com	Venom by Cobra Trading
Deposit fee, % The indicated amount does not include possible fees from payment systems and banks.	0	0	0
Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks.	0	0	0
Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks.	0-15	0	0-100
Inactivity fee ($, per month)	0	15	0

Is OANDA Safe?

Score:

10 /10

OANDA has a safety score of 10/10, which corresponds to a High security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.

Tier-1 regulated
Negative balance protection
Regulated in the UK
Track record over 29 years

Strict requirements and extensive documentation to open an account

OANDA Regulators and Investor Protection
Abbreviation	Full Name	Country of regulation	Investor Protection Fund	Regulation Level
FCA UK	Full Name Financial Conduct Authority	Country of regulation United Kingdom	Investor Protection Fund Up to £85,000	Regulation Level Tier-1
BVI FSC	Full Name British Virgin Islands Financial Services Commission	Country of regulation British Virgin Islands	Investor Protection Fund No specific fund	Regulation Level Tier-2
ASIC	Full Name Australian Securities and Investments Commission	Country of regulation Australia	Investor Protection Fund No specific fund but has stringent consumer protection	Regulation Level Tier-1
NFA	Full Name National Futures Association	Country of regulation United States	Investor Protection Fund No specific fund	Regulation Level Tier-1
CFTC	Full Name Commodity Futures Trading Commission	Country of regulation United States	Investor Protection Fund No specific fund	Regulation Level Tier-1
CIRO	Full Name Investment Industry Regulatory Organization of Canada	Country of regulation Canada	Investor Protection Fund CAD 1,000,000	Regulation Level Tier-1
MAS	Full Name Monetary Authority of Singapore	Country of regulation Singapore	Investor Protection Fund No specific fund	Regulation Level Tier-1
FFAJ	Full Name Financial Futures Association of Japan	Country of regulation Japan	Investor Protection Fund No specific fund	Regulation Level Tier-1

OANDA Security Factors
Foundation date	1997
Negative balance protection	Yes
Verification (KYC)	Yes

Account Types

Score:

7.9 /10

OANDA offers the following account options: Demo, Standard, ECN/Raw spread, Micro, Swap Free.

However, it does not provide a Cent account, which can be a disadvantage for beginners looking to practice with minimal risk.

Tight spread ECN account
Standard account with balanced trading conditions
Low minimum deposit

No Cent account
No VIP account option

OANDA account types vs top competitors
	OANDA	Trading.com	Plus500
Standard	Yes	Yes	Yes
ECN/Raw spread	Yes	No	No
Demo	Yes	Yes	Yes
Cent	No	No	No
Micro	Yes	No	No
Swap Free	Yes	No	Yes
VIP	No	No	No
Managed	No	No	No

OANDA accounts trading conditions

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:

Account Type	Description
Standard	an account with a minimum deposit of $1. Spread type - floating, minimum spread for currency pairs is 1.1 pips. Stop Out level is 50%. Suitable for newcomers.
Premium	an account with a minimum deposit of 20 000$. Spread type - floating, minimum spread for currency pairs is 0.8 pips. Stop-out level is 50%. High volume traders.
Core	an account with a minimum deposit of $1. Spread type - floating, minimum spread for currency pairs is 0,2 pips. Stop-out level is 50%. Suitable for newcomers.
Swap-free	Spread type - floating, minimum spread for currency pairs is 1,6 pips. Stop-out level is 50%. Suitable for Traders who do not wish to pay or receive interest on their accounts.
Premium Core	an account with a minimum deposit of $ 20 000. Spread type - floating, minimum spread for currency pairs is 0.2 pips. Stop-out level is 50%. High volume traders.

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.

Deposit and Withdrawal

Score:

6.3 /10

OANDA received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.

OANDA provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.

Bank card deposits and withdrawals
Minimum deposit below industry average
Low minimum withdrawal requirement
No deposit fee

USDT payments not accepted
Only major base currencies available
Wise not supported

What are OANDA deposit and withdrawal options?

OANDA provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, PayPal, Neteller, BTC.

OANDA Deposit and Withdrawal Methods vs Competitors
	OANDA	Trading.com	Plus500
Bank Wire	Yes	Yes	Yes
Bank card	Yes	Yes	Yes
PayPal	Yes	No	Yes
Wise	No	No	No
BTC	Yes	No	No

What are OANDA base account currencies?

A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. OANDA supports the following base account currencies: USD, EUR, HKD, SGD.

What are OANDA's minimum deposit and withdrawal amounts?

The minimum deposit on OANDA is $0, while the minimum withdrawal amount is $0. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact OANDA’s support team.

Markets and Tradable Assets

Score:

6.8 /10

OANDA offers a limited selection of trading assets compared to the market average. The platform supports 129 assets in total, including 68 Forex pairs.

68 supported currency pairs
Passive income with bonds
Copy trading platform

No ETFs
Limited asset selection

Supported markets vs top competitors

We have compared the range of assets and markets supported by OANDA with its competitors, making it easier for you to find the perfect fit.

	OANDA	Trading.com	Plus500
Currency pairs	68	69	60
Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs.	129	69	2800
Stocks	Yes	No	Yes
Commodity futures	Yes	No	Yes
Crypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada.	Yes	No	Yes
Stock indices	Yes	No	Yes
Options	No	No	Yes

Investment options

We also explored the trading assets and products OANDA offers for beginner traders and investors who prefer not to engage in active trading.

	OANDA	Trading.com	Plus500
Bonds	Yes	No	No
ETFs	No	No	Yes
Copy trading	Yes	No	No
PAMM investing	No	No	No
Managed accounts	No	No	No

Trading Account Opening

Score:

9 /10

We successfully registered an account with OANDA in 10 minutes. The KYC verification was completed within 3 business days. The minimum deposit amount at OANDA is $0.

This is one of the most accessible and hassle-free onboarding procedures on the market.

Low minimum deposit requirement
Fully online account opening process
Fast registration time (up to 15 minutes)

Account approval may require extra time depending on the documentation.

OANDA account opening
	OANDA	Trading.com	Plus500
Online Registration	Yes	Yes	Yes
Minimum deposit	$0	$50	$100
Mandatory KYC	Yes	Yes	Yes
Registration time (min)	10	20	5
KYC time (days)	3	2	3

Is OANDA available in my country?

If you are a citizen of United States, the broker accepts clients from your country.

Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.

Account opening details

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:
- Trading account balance: OANDA personal account – Account balance.
- Access to the trading platform directly from your personal account: OANDA personal account –Trading platform.

Also, other useful functions will be available in the personal account:

Account settings.
Account management.
Regulations and rules for the broker.
Technical support and assistance of a personal manager

Trading platforms & tools

Score:

9.3 /10

OANDA received a score of 9.3/10, indicating a strong offering in terms of trading platforms and tools. The broker provides broad access to popular platforms and supports a variety of features designed to enhance both manual and automated trading.

MetaTrader is available
Trade directly from TradingView
Trading bots (EAs) allowed
Strategy (EA) Builder is available

No access to cTrader and its advanced tools.

Supported trading platforms

OANDA supports the following trading platforms: MT4, MT5, TradingView, Proprietary platform, WebTrader. This selection covers the basic needs of most retail traders. We also compared OANDA’s platform availability with that of top competitors to assess its relative market position.

	OANDA	Trading.com	Plus500
MT4	Yes	No	No
MT5	Yes	Yes	No
cTrader	No	No	No
TradingView	Yes	Yes	Yes
Proprietary platform	Yes	Yes	Yes
NinjaTrader	No	No	No
WebTrader	Yes	Yes	Yes

Key OANDA’s trading platform features

We also evaluated whether OANDA offers essential trading features that enhance user experience, accommodate various trading styles, and improve overall functionality.

Supported features
2FA	Yes
Alerts	Yes
Trading bots (EAs)	Yes
One-click trading	Yes
Scalping	Yes
Supported indicators	30
Tradable assets	129

Additional trading tools

OANDA offers several additional features designed to enhance the trading experience. These tools provide greater automation, deliver advanced market insights, and help improve trade execution.

OANDA trading tools vs competitors
	OANDA	Trading.com	Plus500
Trading Central Trading Central is a leading provider of investment research and financial market commentary. Integration with Trading Central offers traders advanced analytics, trading signals, and expert market insights, aiding in more informed decision-making.	No	Yes	No
API	Yes	No	No
Free VPS	Yes	No	No
Strategy (EA) builder A Strategy or EA builder is a tool that allows traders to create and test their own automated trading strategies without requiring programming skills.	Yes	No	No
Autochartist Autochartist is a market scanning tool that identifies trading opportunities by analyzing chart patterns and key price levels.	Yes	No	No

Mobile Apps

Score:

7.7 /10

OANDA supports mobile trading, offering dedicated apps for both iOS and Android. OANDA received a score of 7.7/10 in this section, indicating a generally acceptable mobile trading experience.

Solid iOS user feedback, with a rating of 4.8/5
Supports mobile 2FA
Mobile alerts supported

Weak user feedback on Android

We compared OANDA with two top competitors by mobile downloads, app ratings, 2FA support, indicators, and trading alerts.

	OANDA	Trading.com	Plus500
Total downloads The parameter reflects the combined number of installations from both the Apple App Store and Google Play. It serves as an approximate indicator of the broker’s mobile trading app popularity and user adoption across platforms.	1,000,000	50,000	10,000,000
App Store score App store scores reflect the average user ratings of the broker’s mobile applications on the Apple App Store and Google Play. These ratings indicate user satisfaction based on criteria such as usability, stability, performance, and overall experience.	4.8	4.8	4.7
Google Play score	3.4	4.7	4.4
Mob. 2FA	Yes	Yes	Yes
Mob. Indicators	Yes	Yes	Yes
Mob. Alerts	Yes	Yes	Yes

Customer Support

Score:

5.4 /10

Customer support at OANDA is available, but response speed and service quality may vary. Some requests are handled efficiently, while others may require follow-ups.

During testing, response times were moderate, and communication depended on the complexity of the request. OANDA provides basic support functionality but does not stand out in overall service performance.

Information

The support service provides technical and operational support 24/5.

Support in your account
Feedback form
Telephone support

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:

by phone, as indicated on the website;
by email;
by filling out a feedback form.
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	frontdesk@onada.com 1 877 626 3239, 13000 62632

Best OANDA Alternatives

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OANDA Video Guides

FAQs

How safe is trading with OANDA in terms of regulation and investor protection?

OANDA has a safety score of 10/10 and is regulated by several Tier-1 authorities, including the FCA (UK), ASIC, NFA, CFTC, CIRO, MAS, and FFAJ, as well as the Tier-2 BVI FSC. The broker offers negative balance protection, requires KYC verification, and some jurisdictions provide access to investor compensation schemes, such as up to £85,000 under the UK’s FCA and CAD 1,000,000 under Canada’s CIRO.

What commissions and fees does OANDA charge for forex trading?

According to this section, OANDA’s overall fees are rated low, with a fees score of 8/10 and no deposit, inactivity, or percentage-based withdrawal fees, though withdrawals can cost between $0 and $15. On Standard accounts, typical EUR/USD and GBP/USD spreads range from 0.1 to 0.5 pips, while RAW/ECN accounts show average spreads of 0.15 pips on EUR/USD and 0.2 pips on GBP/USD plus a $3.5 commission per lot.

What do user reviews say about OANDA’s overall service quality?

OANDA has a user satisfaction score of 8/10 based on 255 reviews, with most ratings being 4 or 5 stars and very few low-star reviews. According to user reviews, this indicates that overall feedback is mostly positive, although a minority of users report more neutral or slightly negative experiences.

What deposit and withdrawal options and limits are available at OANDA?

OANDA supports deposits and withdrawals via bank cards, bank wire, PayPal, Neteller, and BTC, with a minimum deposit and minimum withdrawal of $0, though these may vary by account type and payment method. The broker is rated Medium (6.25/10) for deposit and withdrawal efficiency, offers a low minimum withdrawal requirement, but does not support Wise or USDT and does not offer BTC as a base account currency.

Which trading platforms and tools does OANDA provide, according to user feedback and reviews?

OANDA offers MT4, MT5, TradingView, a proprietary platform, and WebTrader, and supports features such as 2FA, alerts, trading bots (EAs), one-click trading, scalping, and 30 built-in indicators across 129 tradable assets. It also provides additional tools like API access, free VPS, a strategy (EA) builder, and Autochartist, while cTrader and NinjaTrader are not available.