Oanda Review

[FREE] Complete Oanda Review: Broker Ratings, Pros And Cons.

oanda

Overall Rating

2.5/5

Rated #70 of Recommended FX Brokers

Oanda Details
💰Minimum Deposit
$1
🌐 Regulators
SVGFSA , BVI, FSC
📱 Trading Desk
MetaTrader 4
₿ Crypto
Yes
📈 Total Pairs
45+
📊 Trading Fees
Low
🕒 Account Activation Time
24 Hours
📱 Moble Trading
Yes
🌐 Web Trading
Yes

Oanda Broker Review

Oanda Is A Multi-regulated And Established Online Broker Offering A Generous Range Of Trading Instruments Across Multiple Financial Markets To Clients Worldwide Via Versatile And User-friendly Trading Platforms. They Have Tight Spreads, Low Fees And Rapid Execution Speeds. The Broker Supports A Variety Of Convenient Funding Options And Require A Minimum Deposit Of Just $1 To Open A Real Account.

In This Detailed Oanda Review, Our Online Broker Research Team Have Covered Some Of The Most Important Aspects For You To Consider When Choosing The Best Broker For Your Online Trading Needs.

 

Oanda Licence & Regulation

In The United States, OANDA Corporation Is A Member Of The National Futures Association (NFA) With The No. 0325821. The Broker Is Also Registered With The Commodities Futures Trading Commission (CFTC) As A Registered Futures Commission Merchant And Retail Foreign Exchange Dealer (RFED).

In Canada, The Broker Is Regulated By The Investment Industry Regulatory Organisation Of Canada (IIROC).

Oanda Europe Ltd Is Authorised And Regulated By The Financial Conduct Authority (FCA) With The License Number: 542574.

Oanda Asia Pacific Ptd Ltd Is Regulated By The Monetary Authority Of Singapore (MAS).

OANDA Australia Pty Ltd Is Authorised And Regulated By The Australian Securities And Investments Commission ASIC (ABN 26 152 088 349, AFSL No. 412981).

Oanda Japan Co. Ltd. Is Regulated By The Financial Futures Association Of Japan (FFAJ). The License Number Is 1571.

OANDA Global Markets Ltd Is A Is Authorised And Regulated By The BVI Financial Services Commission In The British Virgin Islands.

Clients’ Deposits Are Maintained In Different Segregated Bank Accounts. These Funds Are Kept In Top European Banks Such As NatWest, Barclays And Lloyds, Ulster Bank In Ireland, Deutsche Bank In Germany And Barclays In France. Oanda Accounts Records Are Regularly Crosschecked By Internal Auditors. Every Year, ‘PricewaterhouseCoopers’ Audits The Records And The Reports Are Sent To The Relevant Regulatory Authorities.

Oanda UK And European Clients Are Insured By The Financial Services Compensation Scheme (FSCS). The Scheme Will Compensate Eligible Clients For Up To £85,000 Per Person If The Broker Becomes Insolvent. The Canadian Clients Are Insured For Up To One Million Canadian Dollars By The Canadian Investor Protection Fund (CIPF). The MAS Regulated Jurisdictions Are Entitled To An Insurance Of Up To 50,000 Singapore Dollars.

Oanda Protects Its Trading Platforms And Websites With Secured Socket Layer (SSL) Encryptions To Ensure Adequate User Protection From Identity Thieves And Cyber Hackers.

 

Oanda Accepted Countries

Oanda Accepts Clients From Across The Globe But Do Not Accept Residents Of Some Countries Where There Are Certain Restrictions In Place. Some Oanda Broker Features And Products Mentioned Within This Oanda Review May Not Be Available To Traders From Specific Countries Due To Legal Restrictions.

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Oanda Platforms

Oanda Next Generation Trading Platform

This Is Oanda’s Proprietary “next Generation” Platform That Has Won Multiple Awards. It Has A Set Of Tools For Conducting Market Analysis, Advanced Charting And Trade Management. The Platform Offers A Flexible And Convenient Trading Environment For Traders Of All Skill Levels. It Is Available In 3 Versions; Web, Desktop And Mobile. The Web Version Runs Directly In The Browser And Thus, Works On Every Operating System In Most Modern Web Browsers. The Desktop Version Is Installable On Windows And Offers A Fully Customisable User Interface. The Mobile Version Is Designed For Android/ios Devices And Is Useful For Those Who Need To Access Their Account And Trade Whilst On The Go.

The Following Are Some Of The Key Features Of The Platform:

Sophisticated Technical Analysis Tools With Over 10 Chart Layouts.
Over 50 Drawing Tools And Technical Indicators For Conducting Chart Analysis.
News Aggregator With Search Function.
Access To Algorithmic Trading With Algo Labs
Risk Management Features Including Stop Loss.
Trade Performance Analytics Tool.
Customisable Layouts And Interface.
Powerful Charting Courtesy Of Trading View.
Market News And Analysis, Economic Calendar Available On The Platform.

Oanda MT4

This Platform Is Perhaps The Most Popular In The Forex Trading World And Has Become A Standard Among Many Brokers And Millions Of Traders Worldwide. The MT4 Platform Is Intuitive, Versatile, Fully Customisable And Packed With A Vast Array Of Essential Tools Useful To Traders. Oanda Presents MT4 As A Downloadable Desktop Application And As Mobile Apps.

Here Are Some Of The Key Features Of The MT4 Platform:

Real-time Price Quotes In The Market Watch Window.
Multiple Chart Types (candlestick, Bar, Line) That Can Be Displayed Over 9 Timeframes.
30 Inbuilt Technical Indicators And Over 20 Drawing Tools.
Automated Trading Using Expert Advisors (EAs).
Strategy Tester For Historically Testing EAs.
MQL Editor For Programming Custom Indicators, EAs And Scripts.
Trade Directly From The Charts.
One-click Trading.
Order Management Tools As Well As Risk Control Tools Like Stop Loss And Take Profit.
Alert Notifications Via The Platform, Email And SMS.
Online Community And Marketplace For Additional Tools.

Oanda MT5

In Addition To The MT4 Platform, Oanda Also Provide Its Successor, The MT5 Platform. Whilst This Platform Maintains The Key Features And Functionalities Of The MT4 Platform, It Also Has Some More Advanced Capabilities.

Traders Will Be Able To Enjoy Features Such As Built In Depth Of Market, An Integrated Economic Calendar, One-click Trading, Advanced Trading Tools And Improved Charting Capabilities. MT5 Is Available For Web, Desktop And Mobile On Live And Demo Accounts.

MT5 Is A Faster And More Efficient Platform That Will Improve The Trading Experience. Clients Can Automate Trading Strategies, Buy And Sell Currency Pairs With Only One Click And Access Greater Market Analysis Tools. Clients Can Also Create Expert Advisors In MQL5 To Automate Their Trading Strategies.

Oanda Mobile Trading

Both The Oanda Trading Platform And The MetaTrader Platforms Support Mobile Trading Via IOS And Android Apps. These Mobile Apps Can Be Downloaded And Installed From The Respective App Stores. They Integrate Seamlessly With The Desktop Applications And Maintain Similar Features And Functionality.

Here Are A Few Features Of The Apps:

Real-time Price Quotes.
Support For Technical Analysis Via Charts, Indicators And Drawing Tools.
Simple And User-friendly Interface That Can Be Customised To The User’s Selections.
Monitor Live Trades, Charts And News On The Go.
Used To Open, Modify Or Close Trade Positions.
Trade Performance Analysis And History.
Push Notifications.

Oanda Deposit & Withdrawal

The Payment Options Available To You Depends On Your Country Of Residence. Oanda Does Not Accept Payments From Third Parties.

The Following Payment Options Are Available:

Automatic Clearing House (ACH): This Method Is Payment Is Only Available For USD Accounts. Maximum Limit Is $50,000 And It Takes Up To 6 Days.
Credit/Debit Cards: The Cards Are Accepted Are Mastercard And Visa Card. There Is A Limit Of $20,000 Per Month.
Wire Transfer: This Takes 1-3 Working Days To Deposit Money Through This Method. International Transfers Can Take Up To 5 Business Days. There Are No Limitations On Bank Transfers.
Checks: This Is Only Acceptable In The United States For Only Deposits. There Are No Deposit Fees And It Takes 4-6 Days Before The Check Clears.
Online Payments: The Accepted Payments Are PayPal, BACS, CHAPS, Swift, SEPA And BPay.
PayPal, Neteller & Skrill: Clients In Europe Can Use PayPal, Neteller Or Skrill For Deposits And Withdrawals.
Accounts Can Be Opened In USD, EUR, HKD, SGD. The Different Currency Options Are Beneficial As Currency Conversion Fees Do Not Apply When Using An Account In Your Own Currency.

Oanda Account Opening

To Create A New Trading Account, Visit The Oanda Website And Click On The ‘Open Live Account’ Button Which Is Found At The Top Of Every Webpage. The New Account Opening Page Opens. Type In Your Country In The Textbox, If Oanda Accepts Residents From Your Country The Form Loads And Opens, But If Not, Registration Cannot Continue.

There Are Forms To Complete Including Account Information, Personal Information And Identity Verification. If Everything Is Done Correctly, The Account Is Approved And An Email Containing Further Instructions Is Sent By Oanda To The New Client.

You Should Not Have To Provide Any Documents When You Open An Account With Oanda For Deposits Up To $9,000 (or USD Equivalent). You Can Open A Standard, Core Or Swap Free Account Without Submitting Any Documents. Then You Can Deposit With Various Payment Options Including Neteller And Skrill And Trade Right Away. Full Account Verification Will Still Be Needed Before Traders Can Deposit Over $9,000 (or USD Equivalent).

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Conclusion

Oanda Is A Well-established Broker That Continues To Implement The Latest Innovative Trading Technologies. The Broker Holds Multiple Regulations From Different Authorities And Thus Must Carefully Abide By The Stringent Regulatory Provisions.

They Have A Generous Selection Of Trading Instruments Whilst They Can Accommodate Individual, Corporate And International Traders. There Is No Minimum Deposit, Meaning That Anyone Is Welcome To Use Their Trading Services Irrespective Of Trading Capital Or Experience.

The Proprietary Next Generation Trading Platform Is A Multiple Award-winning Platform. It Has A Myriad Of Innovative Tools To Assist Traders. The Sentiment Analyses, Social Forum, News From Reuters As Well As Analysts’ Insights Are All Welcome Additions That Make The Platform An Acceptable Choice For All Levels Of Trader. There Is Also A Comprehensive Range Of Training Videos And Other Educational Resources Available On The Oanda Website And Platform.

 

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