site logo site logo
Best Brokers
Best brokers by categories

Best Stock Brokers

Best Forex Brokers

Best CFD Brokers

Best Brokers for Beginners

Best Stock Trading Apps

Best discount brokers

Best Crypto Brokers

Best Futures Brokers

Best Brokers for bonds

Best low spread forex brokers

BrokR Awards 2024
country-recommendation

United States

Vietnam

Japan

Match Me

OANDA Review

Why choose OANDA

Well-established broker known for transparent pricing and robust trading platforms.

Pros

  • Competitive spreads.
  • No minimum deposit,
  • Strong regulatory oversight.

Cons

  • Inactivity fee after 12 months of dormancy; limited product range beyond forex and CFDs.
OANDA

OANDA

Fee Level:

Medium

Inactivity Fee:

Medium

Index CFD Fee:

Medium

Investor Protection:

Up to £85,000 under the Financial Services Compensation Scheme (FSCS).

Mobile Platform:

Visit OANDA

Provides a cost-effective trading environment with minimal fees.

Pros

  • No withdrawal fees; competitive forex spreads starting from 0.6 pips.

Cons

  • Inactivity fee applies after 12 months of inactivity; limited product range beyond forex and CFDs.

Regulated by FCA, CFTC, and ASIC; segregates client funds and offers negative balance protection.

Pros

  • Strong regulatory framework and security measures, including SSL encryption and segregated client funds.

Cons

  • Limited product range beyond forex and CFDs.

OANDA supports bank transfers, cards, and PayPal. No crypto. Deposits are instant; withdrawals take 1–5 days.

Pros

  • Instant deposits, multiple e-wallet options, no deposit fees.

Cons

  • Instant deposits, multiple e-wallet options, no deposit fees.

OANDA supports simple online application with 24-hour document verification.

Pros

  • No minimum deposit and flexible account types.

Cons

  • No minimum deposit and flexible account types.

The OANDA Trade mobile app offers a user-friendly interface with a balance of features, including advanced charting tools, real-time market data, and seamless trade execution.

Pros

  • Intuitive design, comprehensive trading tools, efficient trade execution.

Cons

  • Biometric authentication not available.

OANDA offers multiple desktop platforms, including its proprietary OANDA Trade platform, MetaTrader 4 (MT4), and integration with TradingView in certain regions. These platforms provide advanced analytical tools, customizable interfaces, and support for automated trading strategies.

Pros

  • Advanced charting features, support for automated trading, multiple platform options.

Cons

  • TradingView integration not available in all regions.

OANDA offers a diverse range of trading instruments, including over 70 forex pairs, CFDs on indices, commodities, metals, and bonds. This variety allows traders to diversify their portfolios across multiple asset classes.

What trading platforms does OANDA offer?

OANDA provides several trading platforms to suit different trading styles: OANDA Trade: A proprietary platform available on web, desktop, and mobile devices, featuring advanced charting tools, real-time data, and customizable interfaces. MetaTrader 4 (MT4): A widely-used third-party platform known for its robust analytical tools and automated trading capabilities.

What are the trading fees and commissions?

OANDA operates primarily on a spread-based model, meaning the cost to trade is embedded in the difference between the bid and ask prices. There are no additional commissions for standard accounts. However, traders should be aware of potential overnight financing charges (swap rates) for positions held overnight.

How can I contact OANDA's customer support?

OANDA offers customer support through various channels: Live Chat: Accessible via their website for real-time assistance. Email: Support email addresses are provided based on your region. Phone: Regional support numbers are available during business hours.

Best brokers in World

Find My Broker