Top Options
95/ 100
Type of Broker: Forex
Regulated: CFTC, DFSA, IIROC, MAS, NFA, FSA
Min Deposit: $1
Min Trade Amount: 0.01
US Clients:
Number of Assets: 100+
Leverage: Up to 50:1
Free Demo Account:
Trading Platform: MT4, Oanda fxTrade
Types of assets: Currencies, Commodities, CFDs-UK & Europe, Spread Betting-UK & Ireland, Indices, Metals, Bonds
Payment METHOD NAME Charge Time
PayPal None Immediately
Credit Card 8-10% 3-4 days
Fast Bank Transfer 1.5% 2-3 days
Swift 8-10% Immediately

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Full Review

OANDA is a Forex trading platform specializing in currency and commodity trading. The company was founded in 1996 and its headquarters are based in Toronto, Canada.

In the United States, the organization is a member of National Futures Association (NFA) and focuses on Spot forex trading. OANDA is an online trading platform that focuses on currency and forex trading. The platform supports an array of tools and features that include advanced charting, portable mobile

The platform supports an array of tools and features that include advanced charting, portable mobile platforms and news to help users anticipate markets among others.

Trading

OANDA supports a wide range of markets for trading indices, commodities, bonds and metals. Some of the most traded currencies include EUR, USD and JPY among others. Commodities and metals such as Gold, Silver and West TX OIL are also traded. OANDA users also enjoy the luxury of trading commission free, no minimum deposits and no minimum trade size exchanges.

One can join OANDA by opening a live or demo account. The demo account is a practice account where first time users of OANDA can work around to understand how the platform works.

OANDA reputes itself as a different type of broker with the platform supporting different types of languages. In addition to the support team being available on call, chat or mail 24/5, the platform also holds its continued performance to the educational materials available for its users.

Markets

OANDA provides various market reaches that include, but not limited to forex, commodities, bonds, indices and precious metals.

All forex majors are readily accessible for live trading at OANDA. The forex trading platform is accessible through mobile apps, MT4 and desktop platforms. Users are able to maximize profits without having to worry about minimum commissions that would, in most cases, on other platforms, be deductible from the spreads.

It’s well known in the industry that commodities are easily affected by sudden price changes. OANDA prides itself to offering a workaround this challenge by providing tight variable spreads among popular traded spreads on the same.

Bonds allow users to hedge against inflation risks as they wait to see future market performance in terms of interest rates movements. OANDA supports both long and short term bonds that suggests will help capitalize on security and stability as seen on government treasuries.

Stock indices are revered due to their capacity to help in speculating top financial market movements across the world. These exceptional weighted averages can be traded at OANDA with no added commissions or other hidden charges.

The trade of precious metals has become the order of the day as investors try to hedge risks noted on slow performing economies. At OANDA, precious metals such as gold, silver, palladium and platinum seem to be offering profitable spreads that investors can leverage.

Platforms

OANDA is a multiple trading platform system where users can utilize desktop, mobile, MT4, and OANDA API.

The desktop platform is extensive and provides technical analysis, advanced charting features and the ability to maintain a close eye on the market by staying connected to forex industry news.

The mobile trading platform is accessible through iOS and Android based devices and thus can be downloaded from App Store and Google Play. Full featured desktop platform is accessible on the go through your handheld device.

OANDA’s MT4 is full featured and also presents the trading platform’s extraordinary execution and highly competitive spreads.

The platform’s developer portal provides an access to OANDA API, this platform is the training center where users can learn and discover more on the best trading strategies.

Tools

OANDA features advanced technology with tools that simplify trading. For instance, the advanced charting tools promote ease by allowing the user to place, view and close trades through the optional buy/sell panel.

There are over 50 technical indicators and drawing tools that place the platform’s charting tools on top. Chart intervals also help in analyzing forex and CFD price performances, not to mention the customizable watchlist that aides in monitoring progress on your bid.

OANDA clients also enjoy the luxury of staying updated on financial current affairs through major news providers on the same such as Dow Jones, 4CAST and UBS Analysis. These news updates are also accessible through both desktop and mobile platforms.

The currency tools at OANDA are exceptional with the company noting that the rates have been utilized and updated since 1995. The rates are mostly utilized by big corporations, tax authorities and auditing institutions thus making them legit in every way.

Deposits and Withdrawals

OANDA account can be funded through a debit card that is backed by MasterCard or Visa. Minimum of 10,000 units of currency in a calendar month can be deposited and the funds reflect immediately in the users account upon a successful deposit.

There is no outstanding fee when funding your account; however, you may incur some transfer costs charged by your bank.

You can withdraw earned profits by wire transfer and there are no limits as to the amount of money you may wish to transfer to your bank account. Transfers take 1-5 business days to reflect to be credited to your bank.

Support

OANDA customer support representatives are available 24/5 on chat and email. They can be accessed from Sunday 1pm EST to Friday 6pm EST depending on the location of the client.

Telephone: 

London: +44 20 3151 2050

Canada+1 416 593 9436

Asia Pacific: +65 6579 8289

San Francisco, CA : +1 212 858 7690