OANDA Review

OANDA is an award-winning broker with 25 years of experience and a stellar reputation in the forex industry which is known for its transparent pricing and unique trading education. OANDA is globally recognized for its efficient financial trading services. They offer hassle-free trading and follow strong regulations. They use the best technology to provide you with a great trading experience.

Pros And Cons

Pros

• No verification needed
• Tight spreads
• Voted most popular broker in 2020
• Accepts U.S. clients

Cons

• No negative balance protection for U.S. clients
• Average customer support

OANDA Company Information

Website: https://www.oanda.com/group/

OANDA was co-founded by two renowned personalities, Dr Michael Stumm and Dr Richard Olse, to use the internet as a medium for forex trading. OANDA boasts of its fast trade execution, excellent track record of regulatory oversights and well-designed trading platforms. They provide an opportunity to the traders to trade in a wide range of forex and C.F.D.s. They possess the most exceptional and advanced trading tools with a focus on transparency, extensive research and education. Although the product offerings of OANDA vary from country to country, they are committed to providing a great trading experience.

Instant Account Set up. No Account Verification Needed

• Award-Winning Company
• Global Offices
• Innovative Trading
• Sophisticated Trading Tools

Countries

OANDA provides its services to people worldwide. OANDA offers its services in the U.K., U.S.A., Japan, Australia, Canada and Singapore. 

OANDA Trading Platforms

MT4

OANDA provides you with the most powerful MT4 trading platform, which has features such as charting and analysis for a smooth trading experience. OANDA’s MT4 can be used on desktop, web and mobile alike. One can explore 2000 free indicators to create and test your automated strategies and technical indicators. 

MT5

MT5 on OANDA comes with the most powerful features which the traders can enjoy. Some of the best features are in-depth built-in analysis of the market, innovative trading tools, and enhanced charting capabilities. MT5 is available for web, desktop, and mobile to create live and demo accounts. MT5 for OANDA has a built-in economic calendar so that the traders can see upcoming market events and news indicators conveniently. Additionally, you can buy and sell currency pairs in just one click.

Fx Trade App

OANDA has the best trading app with the best technology to offer traders the best trading speed and reliability. The app is totally streamlined to offer an optimal trading experience. Fx trade app can be fully customized as per the trader’s needs and come for both iOS and Android platforms.

Trading Accounts- OANDA

OANDA offers five different account types: Standard, Core, Swap-Free, Premium, and Premium Core. You can pick one according to the specific benefits and features that you want in your account. Choosing a suitable account for yourself depends upon various factors such as spreads, leverage, minimum order size, acceptance criteria and more.

Swap-Free Account

With a standard account, you are charged interest, also known as a swap, for any leveraged position that you keep open at the end of the trading day. By using a swap fee, traders can avoid swap or interest if they do not wish their account to be charged with it.

OANDA Payment Options

OANDA lets you fund your account through various methods such as credit and debit cards (MasterCard and Visa), bank transfers via Skrill, Neteller and other alternative payment options such as online/mobile bank transfers.

OANDA Trading Tools

Although Metatrader platforms are sufficient to satisfy the needs of various traders, OANDA goes a way ahead and provides excellent tools to enhance their trading experience. Their partner VPS offers enhanced stability and low latency. OANDA’s powerful range of analysis helps to find potential opportunities and design a strong trading strategy. 

MetaTrader Premium Tools

Traders can access powerful F.X. indicators such as keyboard trading, alarm manager, tick chart trader and more from expert advisors at a click of a button. Some of the most advanced trading tools now come free with OANDA’s MT4 and MT5. These tools are in addition to the E.A., custom indicator, and strategy creation which come as a part of regular Metatrader platform trading.

OANDA Instruments

OANDA offers a huge range of tradable assets to its investors and traders. Through OANDA, you can trade forex, indices, metals, shares, commodities, cryptocurrencies and more.

CFDs

OANDA offers CFD instruments as well. CFDs let the traders invest in short-term securities for the short-term. The best thing about CFD is that you can buy and sell CFD. Instruments without owning the asset.

OANDA Customer Service And Support

OANDA is available for its clients via email. However, the broker’s “live chat” and “phone support” have limited availability. But the representatives are professional and courteous. The website also offers a vast amount of knowledge that answers most of the questions for the traders regarding the trading platforms.

Account Opening with OANDA

Opening an account with OANDA is quite straightforward. Potential traders just need to visit its website and can open their trading account in 3 easy steps:

1. They need to fill out an online application form.
2. They need to fund their account (there is no minimum limit), and you can deposit upto U.S. $9,000.
3. You are good to go to start trading.

OANDA Minimum Deposit

At OANDA, traders can trade without having to worry about any minimum deposit limit.

OANDA Demo Account

Traders can access the demo account on OANDA in the fx trade app, MT4 and MT5 trading platforms. They can select the required volume of virtual money and start practicing trading through the demo account.

OANDA F.A.Q.

What is an OANDA trading platform?

OANDA has its very own fx trade app as well as the most popular trading platforms, MetaTrader 4 and MetaTrader 5, which are available on the web, desktop, and mobile.

How do I open an OANDA live account?

To open a live account with OANDA, go to its website, click ‘Account’ and click on “Create an account”.

How do I verify my OANDA account?

You do not need to provide any documents for verification if you open a trading account and deposit up to U.S. $9000.

What is the minimum deposit in OANDA?

You do not need a minimum deposit to trade with OANDA.

How do I deposit money into OANDA?

OANDA lets you fund your trading account through debit or credit cards, bank wires and local bank transfers.

How do I withdraw money from OANDA?

The traders can easily withdraw their funds from the OANDA account through credit and debit cards, Skrill, Neteller and local payment options.

What are the OANDA account types?

OANDA offers five types of accounts, including Standard, Core, Swap-free, Premium and Premium Core.

Is there an OANDA demo account?

Yes, you can open a free demo account on OANDA. It has virtual funds which the traders can use to test their trading strategies risk-free before they trade using a live account.

Does OANDA offer a swap-free account?

Yes, OANDA offers swap-free accounts for traders who want to avoid overnight fees.

What are OANDA trading instruments?

OANDA’s clients can trade CFDs, cryptocurrencies, shares, metals, indices, and commodities.

Where is OANDA located?

Coinexx is registered in Tortola, British Virgin Islands.

Is OANDA a scam? 

No, OANDA is not a scam. They are an award-winning broker that focuses on offering the best trading experience and helps them trade smoothly and freely.

How can I contact OANDA support?

You can contact OANDA customer support via email as well as through the help portal on the website.

Conclusion:

OANDA is a well known broker among both new and experienced traders. Its proprietary platform, fxtrade offers an excellent trading experience which has been designed using excellent research and analysis features. Their goal is to maintain highest transparency and tradest execution.