New traders won’t struggle to perform basic tasks, while more experienced traders will enjoy creating a custom interface. When I poked around inside a demo account, I found I could tweak just about any aspect of the OANDA Trade interface to match my preferences. We also appreciate that OANDA allows you to input exact orders for some platforms (vs ordering by lots). A lot is considered 100,000 units, so with OANDA Trade, you enter your trade size in units, the minimum of which is 1 unit, equivalent to 1 EUR/USD. With MT4, the minimum trade size is 0.01 lots (equal to 1000 units on OANDATrade), and it increases from there. We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence.

Forex Risk Disclaimer

In all, it’s a very robust offering and an area where OANDA ranks above the industry standard, but if there is one criticism, it is that the material is scattered across OANDA’s website and trading platforms. Traders should expect a learning curve as they try to find everything. OANDA also offers clients “a powerful and more dynamic trading experience” by partnering with third-party providers MultiCharts, CQG FX, and TradingView. Furthermore, they offer VPS capability through third-party providers BeeksFX and Liquidity Connect. We use proprietary AI technology to assist in some aspects of our content production. However, our scores, ratings, and rankings of online brokers are based on our in-depth product testing and thousands of hand-collected data points.

Popular Forex Education

Get access to more than 50 technical tools, including 32 overlay indicators, 11 drawing tools, and 9 charts which allow you to trade through them. OANDA is a global financial technology and services company providing online Forex trading, currency data analytics, and global payment solutions. OANDA’s oanda review Currency Converter is a tool that lets users check the latest average bid/ask rates for foreign exchange and convert various major world currencies. The tool has access to real-time FX rates, so it’s fairly accurate. Also, it’s available both on desktop and on mobile as an iOS and Android app.

Company Overview

Specifically, we’ll analyze what OANDA is, how it works, what its uses are, and who can benefit from it in the US market. In addition, we’ll also give you some tips on how to start using the platform and share some of its pros and cons. Once you have provided all the needed information for your application with OANDA and it is correct, you will receive an email from OANDA approving you application in 1-2 working days.

Is my money safe with OANDA?

A custom-built pricing algorithm automatically calculates the spread symmetrically around the mid-point for each tradable instrument on our trading platform. This mid-point fluctuates throughout the day as wholesale prices change. The world’s most popular forex pairs and cryptocurrencies, powerful platform tools and margin rates from just 2% on EUR/USD. Access more than 50 technical tools, including 32 overlay indicators, 11 drawing tools and 9 chart types with our apps for iOS and Android. FxPro requires a minimum deposit of $100 before you can open an account and start trading.

This means you can enter into positions larger than your account balance. The downside is that you can potentially incur significant losses if the trade moves against you. You can find a comprehensive list of available currency pairs and current spreads here. Voted Most Popular Broker three years in a row (TradingView Awards 2022, 2021, 2020). Named Best in Class for Research and Ease of Use (ForexBrokers.com 2023 Annual Awards).

Other brokers integrate such features directly into the platform, which allows you to stay focused without a distracting flurry of new windows popping into your screen. Once you’ve provided the website with all the info, you’ll have to wait for the account to be approved before https://forexbroker-listing.com/ you can start trading and using other features of the website. Compareforexbrokers receives a commission from OANDA when users sign up and fund an account through the link on this page. We like that OANDA Trade manages to find a balance between ‘accessible’ and ‘custom’.

FxPro is considered Highly Trusted, with an overall Trust Score of 90 out of 99. OANDA is regulated in numerous Tier-1 jurisdictions including in the U.S., U.K., Europe, Australia, Japan, and Canada, making it a trustworthy broker to keep your money safe. OANDA’s longstanding history dating to 1996, impeccable regulatory track record, global licenses and capital infusions from private equity groups over the years make it a safe broker to hold client funds. Thanks to its straightforward web and mobile trading apps, OANDA offers something for casual investors while also serving sophisticated traders who prefer to connect via API or use automated trading systems on MT4. OANDA was one of the first brokers to integrate TradingView charts, and you can now log into the TradingView web platform and connect your OANDA account to unlock the full trading platform experience.

We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. A well-organized website with a stated goal of transparency, emphasis on client education and research, multiple user interfaces, and global regulatory oversight places OANDA in the top tier of online forex brokers. At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Based on our research on the regulatory status of over 60 brokers, we’ve found that OANDA holds 7 global Tier-1 licenses, while FxPro holds 2. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker’s commissions and fees, we found that FxPro offers better pricing overall for traders.

To open a trading account with OANDA, you’ll need to make an initial minimum deposit of $0. Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team. To trade markets on Trade Web, you only need an internet connection and access to a browser on many devices, from PCs to mobiles and smartphones. Access TradingView’s top indicators, drawing tools, and world-class charts without leaving the OANDA platform. However, many of the integrated features in the platform will trigger a new browser window to open – even when you are on the desktop version.

BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. All content is researched, fact-checked, and edited by our research team and all ratings and rankings are based on the team’s in-depth product testing. Based on our research and analysis, OANDA stands out as a strong candidate for forex and CFD traders seeking a well-rounded platform.

Forex trading is the buying or selling of one country’s currency in exchange for another. Discover the difference between our account types and the range of benefits, including institution-grade execution. Take positions on major global indices with competitive spreads on indices such as the US Wall St 30, France 40, the UK 100 and Germany 30. OANDA supports a variety of funding methods, including bank wires, credit cards, and several eWallets like PayPal, Skrill, and Neteller, accommodating a wide range of payment preferences for its users.

Further, there are no deposit fees, no matter the deposit method. The only potential charges will be those set by the user’s bank. The same goes for withdrawals done by credit or debit (Visa or Mastercard) card. Withdrawals by bank wire transfer, however, do require a fee ($20 per transaction). If you start trading, however, it is important to note that OANDA charges users with an open position on their account at the end of each trading day (i.e., 5 pm Eastern Time).

1. As noted, OANDA Corporation acts as a market maker, meaning the broker provides clients with immediate liquidity and then hedges its overall exposure via liquidity providers.
2. BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs.
3. In May 2018, CVC Capital Partners (CVC) Asia Fund IV, a private equity and investment advisory firm that manages $70 billion, announced the acquisition of all the outstanding equity of OANDA, subject to regulatory approval.
4. The broker’s dedication to education is evident through its offerings of both beginner and advanced videos, and it’s rated highly for education and beginners.

Benefits include spread or commission discounts, assignment to a “dedicated relationship manager,” API support, free VPS and wire transfers, and discounted access to third-party platforms. OANDA generates revenue via the spread that it then offers to the client, as is the norm in the brokerage industry. Commission charges are aggregated and posted to client accounts as cash adjustments. OANDA provides traders 71 currency pairs (e.g., EUR/USD) compared to FxPro’s 70 available pairs. If you are interested in trading a full range of securities, FxPro offers traders access to 2249 tradeable symbols, while OANDA offers access to 1744 tradeable symbols; so FxPro offers 505 more tradeable symbols than OANDA.

OANDA, founded in 1996, is a well-established online broker specializing in forex and CFD trading. It has built a reputation for innovative technology and transparency, regulated by several top-tier financial authorities. As a leader in the industry, OANDA continues to expand its services and platform features to meet the dynamic needs of traders around the globe. OANDA offers a range of trading options, including 71 forex pairs and 1,744 tradeable symbols, which is less than the industry average of 3,623 symbols. This provides a decent variety, though it may be less appealing to traders looking for extensive market coverage.

That means you only need the market to rise (or fall) by USD 14.36 before you begin generating a profit. The OANDA classroom, which is a series of webinars, focuses mainly on live market analysis but also includes plenty of basic platform navigation and analysis that should help fill in the educational gaps. Much of the advanced content was geared toward individual tools rather than investing skills. To summarize, the educational resources were adequate but weren’t organized as well as they could have been. However, in the United States only Forex CFDs are available with OADNA offering over 70 currency pairs. U.S. customers can also directly trade cryptocurrencies through a partner company.

Likewise, the GBP/USD spread of 2.0 pips only slightly exceeds the result of our tests – 1.86 pips. The typical spreads published on the website – that’s typical, not minimum – track with the results we obtained in our independent testing. After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we’ve determined that FOREX.com (99) earned a higher Trust Score than OANDA (93). Our team of industry experts conducted our reviews and developed this best-in-industry methodology for ranking online investing platforms for users at all levels. Please submit all the relevant information about your trades or orders so we can investigate and provide you with a detailed analysis. You can do this by clicking on and filling out the Trade enquiries form.

Each year, we collect thousands of data points and publish tens of thousands of words of research. All information contained herein is based on ForexBrokers.com’s independent review of this broker’s various global brand entities. It takes into account pricings from multiple liquidity providers (such as banks, hedge funds, etc.) to offer users competitive bid/ask spreads. The pricing is transparent, and the platform displays both the buy and sell prices. Our analysis takes into account the key features of any regulated forex broker, as well as unique tools and resources that may make a particular brokerage stand out.