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OANDA Broker Review

iconiconiconiconicon 5.0

1:200

$1

USA

1996

oanda.com

1:200

$1

1996

USA

oanda.com

Overall

Regulation: FCA , IIROC , ASIC , MAS, BVI
Type of broker: ECN
U.S. Clients Allowed:
Min. deposit: $1
Max. leverage: 1:200
Demo Account:
Islamic Account:
Segregated Account:
Managed Accounts:
Institutional Accounts:
Website Languages: English, Spanish, Chinese, Portuguese, German , French , Vietnamese
Support Hours: 24/5
E-mail Support:
Live Chat:
Established: 1996
Forex Trading:
CFD Trading:
Payment options: Visa/Mastercard,E-wallet,Crypto,Bank wire

Review

OANDA 

OANDA was founded in 1996 by Dr.Stumm and Dr.Set by Olsen. Reliable global brand OANDA differs from other brokers in the market with quality market research. Globally, the OANDA platform has two types of accounts: Standard and Premium. The broker offers a wide range of product catalogs, which includes common bet offers on CFDs and various assets. In addition, it offers bonds, indices, commodities to provide trading opportunities in financial markets. 

OANDA has a well-organized website with numerous user interfaces and global regulatory oversight, which makes it one of the top online forex brokers.


Comissions and Fees

Payments in OANDA are divided according to certain levels compared to other brokers, which are grouped as low, medium, or high. The point to note here is trade fees and non-trade fees. Fees occur in the trading process. These are spreads, commissions, conversion fees, and funding rates. Non-trade duties are payments that are not directly related to trading, such as withdrawals, inactivity fees, and so on.


Depositing

First of all, it should be noted that the minimum deposit is not available at OANDA. It is possible to make payments in USD, EUR, HKD, SGD currencies. Payment is made via Visa, Mastercard, Skrill, Neteller and various Alternate Payment Methods via SafeCharge on this platform.

Broker has several types of deposit methods. However, the terms and conditions are automatically regulated according to the place of residence.

U.S. customers are offered many payment options, such as Bank Transfers and Credit Cards, Checks, and Automated Clearing Center. No commission is required, but the bank may require some peer-to-peer services, for which customers must always be prepared. PayPal (simply CAD) and Bank Transfers for Canadian customers.

European Customers can deposit using Credit / Debit Cards, SWIFT money transfers, PayPal (GBP, USD and EUR), BACS and CHAPS (GBP only).

Options such as DBS Pay Bills, Internet bank transfer, Bank money transfer, PayPal (SGD only), Checks (SGD only), China are available for Asian Pacific traders.

Australian Customers can deposit money via Credit / Debit Cards, Internet Bank Transfers, Bank Money Transfers, PayPal, Bpay, China UnionPay.


Withdrawal

As with deposits, withdrawal options depend on the company's division. Most transactions are made by bank transfer or money transfer or credit card (which is $ 0 for the first request). At the same time, the withdrawal of more funds is determined and applied in accordance with the duties of these different jurisdictions.


Customer Support

Customer service on the OANDA platform is available 24/7 via email. Although it operates during certain hours (Sunday 13:00 EST - Friday 18:00 EST), customers are not provided with live chat and telephone support during that period. The platform supports users in languages such as English, Mandarin, Spanish, German.


Education and Research

The OANDA platform has resources for beginners and experienced traders in the education section. The broker offers competitive and high-quality research both on its blog and in collaboration with third-party providers. Users can get daily market reviews and trading recommendations at any time. Educational resources for beginner traders are medium to low. There is not much depth in the content and the lessons are very well designed. There will also be live webinars on the OANDA platform.


Reliability

The strictly regulated company OANDA strictly monitors every step and action. Users' security is ensured through two-step verification. Its instructions are in strict accordance with the operating instructions. OANDA is licensed by world-renowned high-level bodies. In Singapore, FFAJ was established in Japan in accordance with the rules of the US CFTC and NFA, in addition to a number of countries such as FCA, ASIC, IIROC, MAS. This, in turn, makes OANDA a less risky CFD and Forex broker.


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