OANDA – Forex Broker Review and Customer feedback

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OANDA Review


The largest Forex broker OANDA is the leader of the US financial market. It acts as a guarantor of reliability and stability.


Broker OANDA
Website URL oanda.com
Founded 1996
Headquarters 140 Broadway, 46th Floor New York, NY 10005 USA
Support Number + 44-20-3151-2050, +1 (212) 858-76-90
Support Types Chat, phone, email
Minimum 1st Deposit 1$
Minimum Trade Amount 1$
Bonus Bonuses up to 50%
Payout Up to 100%
Leverage 1:100
Spread from 0.5 points
Free Demo Account Open Demo
Regulation FCA.org (No. 542574)
Account Types Demo, Standard
Deposit Methods Bank transfer VISA, MasterCard, credit, debit cards, PayPal
Withdrawal Methods Bank transfer VISA, MasterCard, credit, debit cards, PayPal
Number of Assets 100+
Types of Assets Forex, metals, CFD on indices, stocks, commodities, bonds
Trading Currency USD, EUR, JPY, GBP, etc.
US Traders Allowed
Mobile Trading
Overall Score 3/10

Full Review

Certainly, you would like to know whether OANDA is another scam or not. We’ll answer this question in the broker’s detailed review here below.

The creators of the brand believed that it is the Internet and new technologies that will open wide access to the markets for all customers. For more than 20 years, the company has been holding leadership positions, from a start-up to a global corporation, with offices and customers in over 196 countries. Being one of the oldest and most professional brokers, it still acts as a guarantor of reliability, stability and quality. The company grants access to nearly all world liquid markets, trade in currency pairs, stock indices, cfd for futures (oil, sugar, wheat, etc.), etc. Clients can also count on specialized tools: calculators, currency volatility charts, order book, indicators and much more.

To trade a variety of assets the Forex broker offers a rich choice, such as a reliable terminal MetaTrader 4, a browser platform Web Trading, as well as its own high-quality development of FXTrade. FXTrade is the first platform that provides data in a graphical form in real time. The unique program has a simple interface and fast execution speed. It’s equipped with graphing functions, and you can check trading strategies, study financial news. All platforms are convenient; they allow you to work comfortably, while mobile trading is available too.

For traders, there is a 24-hour service support, a free demo account that allows to test the system. The website has a Russian version that enables to get the necessary information about the work of the broker. However, analytics, news and reviews, all the teaching material, webinars, lessons are presented in English, which makes the trade more difficult.

Replenishment and withdrawal of earnings

OANDA offers a minimum of opportunities for withdrawal and replenishment of funds. To replenish the deposit, you need to register and get verification from the broker, deposit the amount by choosing a convenient way to transfer funds from the available options:

Pay attention, withdrawal of funds is possible only in the way the trader’s funds were replenished. The time for processing an application depends on the currency of the transfer and the method of withdrawal; the broker does not impose a transfer fee for the first application, but then all transactions are made with a commission. On the Internet, there are enough complaints from traders on problems with withdrawal of funds, so be careful and discuss the features of capital operations with a personal manager.

Complaints against OANDA

OANDA has different reviews on the Internet, but there are not so many. It means that Russian traders have not appreciated the company yet. Some traders highly praise the reliability of the company, favorable conditions, the set of services that help to make their trading strikingly profitable, to say nothing of an informative website.

Nevertheless, negative feedback is enough: users of the company complain about the problems in the withdrawal of funds (including the commission for withdrawal, there are few ways to withdraw), problems with the terminal, the inconvenient site, minimum information in Russian (including a large part of the necessary material: training, analytics, reviews, news – all of this is presented in English).

Despite the fact that OANDA has been in the financial services market for a long time, today its unique and worthy service is difficult to assess by Russian market players. As regards this issue, the broker still has to work hard if it plans to seriously cooperate with our traders.

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Is OANDA a scam?

Today OANDA is one of the most experienced and successful brokers, known throughout the world. It has been providing high quality service for trade for more than 20 years. The work takes place in several platforms. It’s a reliable and well-known terminal Metatrade and its own platform, which has many advantages as well as positive feedback from Russian traders. Having a terminal of its own that many brokers in our country are deprived of, is a serious step, which indicates that the company plans to occupy strong positions in the market, investing substantial funds in creating a unique service.

OANDA has a license that guarantees the safety of work with it. Reviews about the broker are diverse and there are not so many of them, they mostly indicate a number of serious problems that prevent the company from fully entering the Russian market and showing itself in full force (problems with withdrawing money, commission fees, a complex site, represented for the most part in English, etc.).

The company publishes analytics, training materials, but Russian traders find it difficult to use. Let’s hope that the situation will change for the better and this worthy broker will successfully work with the Russian audience (it is necessary to provide high-quality material on the website, ensure timely support, resolve problems with withdrawal of funds).

Do you still consider OANDA to be a scam, don’t you? We guess it has nothing common with an average scam. For more than 20 years of successful cooperation with traders around the world, the company has proved its reputation by providing high quality service as well as excellent trading conditions.

The broker’s regulator

Today, OANDA has a number of authoritative licenses, its activities are regulated:

  • The Investment Regulatory Organization of Canada IIROC,
  • The UK Financial Supervision Authority (License No. 542574),
  • The Monetary Authority of Singapore MAS (license No. 200704926K),
  • The Australian Securities and Investments Commission ASIC (registration number ABN 26 152 088 349, registration number AFSL 412981),
  • The Association of Financial Futures (registration No. 1571).

Bonuses in OANDA

Each trader of the company can receive a bonus of «50% on the deposit when replenishing the account.»

To receive a bonus, you need to replenish your account for at least 200 € and place the first deal. To the amount of 200€ an additional bonus amount of 100€ will be added. Please note, before using the promotion, it is necessary to clarify its terms with the personal manager.


The Forex broker OANDA has been successfully operating in the field of online trading for more than 20 years, occupying a leading position. Having a large database of users around the world and providing a reliable high quality product, the company does not stand still and it’s constantly evolving. An essential positive factor is the availability of our own platform and high quality service, licenses. However, according to negative feedback on the Internet the broker still has to work hard to offer a really high-quality service to Russian traders. Let’s hope, in this part the company plans to improve the service.

Should we consider OANDA to be a fraudster? This assumption has nothing to do with reality because for a long time the company has been demonstrating the high quality of services as well as reliability of cooperation with users around the globe. We ask traders for real feedback about OANDA, which will affect its ratings on our web portal, and also warn against problems in its work.

OANDA Review

Established in 1996, OANDA is a USA forex and CFD broker offering strengths such as the choice of a spread-only or core pricing with spreads from 0.1 pips and the choice of the MT4 or OANDA forex trading platform while weaknesses include weak OANDA reviews and low CFDs leverage levels of just 50:1.

By Justin Grossbard / Updated: Wednesday, March 25th, 2020

OANDA Review Strengths And Weaknesses

OANDA is one of the oldest and largest forex companies in the world, founded in 1996 by Doctors Olsen & Stumm. The market maker is a favourite for forex traders all around the world due mainly because of the following:

View the full OANDA review below with additional information about the global forex broker.

Our Rating

The overall rating is based on review by our experts


1) OANDA Customer Service

In 2020 OANDA won the customer service from Investment Trends in the USA. This is an award voted by active traders in America based on several categories. While they won customer service in the USA, in Australia they have not won since 2020.

OANDA offers customer support 24 hours, five days a week with e-mail, live chat and phone support for Australian forex traders. They also offer Australian forex traders with the opportunity to read the resident blog with Forex Lab Notes on next- generation trading technology, product design and innovation in the forex trading Australia market.

2) Execution Speed Of Orders

OANDA offers a 100% fully automatic platform with no dealer desk intervention maximising the execution speed of trades.

Australian forex traders are offered tools to protect themselves from slippage with the option to set upper and lower bounds to manage fluctuation, set take-profit orders and stop-loss orders to manage downwards risk. Their servers are some of the fastest in the world with 98% of trades executed in less than 0.012 seconds, according to the data collected by January 2020. They ensure there are no re-quotes with all orders executed at market prices and no automated rejections occur, unlike some other brokers.

Typically, OANDA uses price improvement technology to give forex traders an advantage in the market. It sources the best prices from within the liquidity pool to ensure that clients get the best execution prices on every trade. The systems also have the capacity to review voluminous trade data every second. In this manner, OANDA guarantees ultra-fast and intelligent routing of forex trades. The technology will also provide optimal prices in the fast and highly volatile foreign exchange market.

3) Low Spreads & Fees

A key strength found in this OANDA review was their low fees based on there two main accounts:

Spread Only Pricing

This is the default when a forex trader opens a live account on either the OANDA or MT4 forex trading platform. There are no commissions added to these spreads helping calculate brokerage. It’s ideal for those new to forex trading.

Below you can observe Oanda’s real-time spreads. Additionally, this online broker also gives you access to 7-day historical spreads (accessed directly on Oanda.com), for a better assessment of their spread offering.

Core Pricing

This is the preferred choice for experienced forex traders. It attracts a commission of $5.0 ($10.0 round-turn) for 100k traded but on the plus side, there are tighter market-based spreads. This account must be requested after opening a live account.

Currency pair Spread-only pricing from: Core pricing from:
EUR/USD 0.9 0.1
USD/CAD 0.9 0.2
GBP/USD 0.9 0.2
AUD/USD 1.0 0.2
NZD/USD 1.0 0.2

1) Trial Plan

This plan gives clients a free 30- day trial. New clients are encouraged to use this plan to access OANDA’s API to request a maximum of 1000 exchange rates for up to 190 currencies.

2) Premium Plan

The Premium Plan costs $400 a month. On this plan clients get 100 000 monthly daily ask rates, mid and average bids and rates for over 190 precious metals and currencies, among others.

The average spreads on EUR/USD over a 7-day period is around 1.2 pips but in the figure below we can observe how during news events the EUR/USD spread can go as high as 10 pips or even more.

3) Advanced Plan

This plan costs $750 for which clients receive unlimited monthly quotes, period low, high and average rates, phone support and access to the sales engineer for additional integration assistance, among other unique benefits.

On all plans, there is immediate rate settlement so there is no delay in accessing your funds.

OANDA Weakness – Leverage

Oanda offers different levels of leverage, which are based on local regulatory norms. For example:

  • Oanda US offers maximum leverage of 50:1
  • Oanda Europe offers maximum leverage of 50:1
  • Oanda Australia offers maximum leverage of 100:1

The biggest issue that advanced Australian forex traders have with OANDA is the maximum leverage offered which is 100:1. Some currency pairings have even lower leverage including 50:1 and down to 20:1 for some exotics.

As the table above highlights, some Australian forex brokers offer up to 500:1 which is ten times the rate we noticed in our OANDA review of the company. While leverage dramatically increases the risk profile of forex trading it can be essential for many traders forex strategies. For the beginner, intermediate and even those traders with a low-risk acceptance 50:1 may be ideal as this can help protect you from losing your money or the amount you will lose if currency movements are unfavourable but for expert and higher risk traders, another fx broker may be advisable.

What Else Should I Know About OANDA?

a) The Trading Platform

OANDA uses MetaTrader 4, the most popular platform in the world. It also has it’s own OANDA trading platform that in 2020 won the FX awards for the best platform.

At Oanda, forex traders can choose to trade on the proprietary trading platform fxTrade using 3 versions:

  • Desktop platform
  • Web-based trading platform
  • Mobile Apps

For forex traders that are looking for an opportunity to develop their own trading app/software, a Representational State Transfer (REST) application programming interface. OANDA provides this API free of charge to developers and clients who need to build trading strategies and apps on top of OANDA’s award-winning trading platform.

Traders can also use the API to trade through their fxTrade accounts. If you need the API for purposes other than trading, or if you wish to partner with OANDA, you only need to send an email to the support team.

b) The Mobile Trading Options

OANDA has created fxTrade Mobile 3.2 to help traders work from their mobile devices. This is the latest version of OANDA developed native apps for Android, iPad and iPhone devices. It also comes with new technical overlays and indicators, vertical pinch- to- zoom functionality and additional chart types.

Apart from helping traders draw trend lines, the app can be used to identify resistance and support levels and other common chart patterns. The features have also been designed to allow traders to analyse technical data on currencies, financial instruments and other variables anywhere they roam.

The release of this mobile platform speaks to OANDA’s focus on continuous development and improvement. The company has maintained its lead in mobile forex trading capabilities and taken these capabilities to higher steps. Essentially, the mobile apps are at par with the desktop version of the trading platform. Oanda trading Apps support the same advanced charting capabilities as the desktop platform.

From the feedback OANDA reviews from clients (and their mobile trading behaviour), the company knows that most traders are looking for a robust platform they can access instantly. With fxTrade platform Mobile 3.2, you will be able to do so much more than taking peeks at the latest currency pair spread or checking on your position. Instead, you will receive the full desktop trading experience on your current mobile device.

c) Technical Analysis Tools

OANDA uses a cutting- edge trading app with a sleek user interface, enhanced charting functionality and full visibility in pricing to allow for more customisable options to suit your individual needs. The app also allows for easy mobile navigation from a single screen.

New features in the app include:

– New Charts: Close, Bid, Average, Ask, HLC Bars and Heikin- Ashi candlesticks

– New Indicators: William %R, Standard Deviation, StochRSI, Relative Strength Index, Moving Average Convergence/ Divergence, Commodity Channel Index and Average Directional Index

– The Ichimoku Overlay: The sliders accuracy has been improved for use with overlays and indicators.

OANDA has also added the ability to hide empty candles from the “settings menu” and to change the colours of the candlesticks. Further, cross-hairs are now linked to the main graph chart.

d) Australian certification

Finally, although OANDA has subsidiaries in Singapore, Canada, Japan and the United Kingdom, the Forex Trading Australian subsidiary is primarily tailored to serve the needs and interests of the Australian market. When you trade on this platform, therefore, you can be sure that you will be protected by local Australian financial laws, rules and regulations.

Our OANDA review shows the forex trading Australia division is a trusted source and market maker for currency data. Additionally, we found out in our Pepperstone vs OANDA review that OANDA provides Australians with access to one of the largest historical, filtered currency and high-frequency databases in the world today.

When you trade on this platform, therefore, you can be sure that you will be protected by local Australian financial laws, rules and regulations.

e) Minimum Deposit Requirements

When you open an account, OANDA does not have a minimum deposit requirement to open or maintain an OANDA account. If you wish to trade, you will need to make sure you have enough balance to cover margin requirements your trades.

f) Trading Instruments

Oanda offers a range of CFD Trading tools in addition to Forex. These include Bonds, Commodities and Precious Metals. CFDs are complex instruments and require different skills to forex trading, as always there is a high risk of losing investments. Below you can review the extended list of financial instruments that you can trade on Oanda platform.

Forex Currency Pairs +71
Index CFDs 15
Commodities 7
Metal 23
Bonds 6

It is well worthwhile signing up for a demo account to learn about trading CFDs. This will give you 100,000 units for virtual money when trading CFDs and practice will help develop your CFD trading skills to reduce your risk of losing money. While Oanda customers can enjoy access to the Forex market, cryptocurrencies are not among their offering. Clients from the United States or Europe can’t trade Bitcoin with Oanda, only Australian residents have the luxury to take advantage of the Bitcoin rise in price.

About Oanda – Brief History

Founded in 1996, Oanda has been in the Forex industry for almost 25 years and it’s considered to be a pioneer of online brokers. The same way Steve Jobs was a pioneer of the personal computer revolution, Oanda brand has revolutionized online forex trading.

Oanda is a global provider of financial services having its headquarters in New York, United States, the heart of the most financially powerful city and the biggest International Financial Centers (“IFC”) in the world. Oanda offices spread across 6 different countries (total of 7 offices) and 4 different continents.

Oanda Corp headquarters is located at the following address: North American Sales 135, West 41st Street, New York NY, 10036, USA.

In 2020, Oanda experienced a notable global expansion after opening is London office. Later on, Oanda UK has become the headquarters for the European traders under the brand name Oanda Europe Limited.

Regulation and Licenses

Oanda is heavily regulated by the most powerful regulatory bodies in the world. Our industry-leading experts discovered that Oanda is also an advocate of regulatory oversight. Additionally, forex customers can benefit from extra protection due to Oanda’s superior risk management technology.

Oanda is required to comply with the standards and financial norms imposed by the world’s leading regulatory agencies from 5 countries:

  • Registered Retail Foreign Exchange Dealer (RFED) with the U.S. Commodity Futures Trading Commission (CFTC)
  • Forex Dealer Member (FDM) of the National Futures Association (NFA license #0325821)
  • OANDA (Canada) Corporation ULC regulated by the Investment Industry Regulatory Organization of Canada (IIROC)
  • OANDA Asia Pacific Pte. Ltd. regulated by the Monetary Authority of Singapore MAS (CMS License No: CMS100122-4)
  • OANDA Europe Limited regulated by the Financial Conduct Authority FCA in the UK, No: 542574
  • OANDA Australia Pty Ltd. regulated by the Australian Securities and Investment Commission (ASIC) AFSL No. 412981

Oanda Funding Methods

Clients of Oanda Europe Limited can fund their live accounts through several deposit methods. Below, we have listed the most popular funding methods offered by Oanda:

  • Debit card and credit card
  • Bank transfers
  • Electronic Wallets (PayPal)

To deposit funds in your fxTrade account, Oanda clients have the option to make a bank transfer directly from your bank account using Faster Payment, Bacs, CHAPS and SEPA payments. Another advantage is that Oanda doesn’t enforce a minimum deposit policy.

Note* when funding your Oanda trading account, you can only deposit $10,000 per calendar month. Additionally, on Oanda.com forex traders can expect:

  • $10 per month inactivity fee enforced after two years of zero trading activity
  • $20 bank withdrawal fee (applied only for the first withdrawal within a calendar month)

Deposit Currency Supported

Our team of experts works around the clock to keep Oanda broker review up to date. The latest conducted research made at the beginning of January 2020 we found that compared to other online brokers, Oanda has a decent range of account base currencies.

Oanda offers its traders a multi-currency deposit solution that supports 9 different base currencies (CAD, AUD, EUR, CHF, GBP, HKD, JPY, SGD, and USD). When compared to Pepperstone, Oanda falls behind on this metric. You can review to complete Oanda vs. Pepperstone comparison HERE.

About Compare Forex Brokers

The forex trading comparison on compare forex brokers was made by experienced individuals who have worked with financial services companies within Australia including a forex player. They understand how hard it is to compare forex brokers and have developed criteria from spreads to leverage to help Australians find the best forex broker for them. Just view our forex broker comparison options on the homepage. If you have any feedback please feel free to use our contact form. You can also view our broker vs broker comparison such as CMC Markets.

If you see any issues with any of our forex broker comparison tables or this OANDA review please contact the owners using the contact form and changes will be made promptly to ensure all forex trading Australia elements are correct.

Published by Justin Grossbard

Wednesday, March 25th, 2020

Oanda Review: Oanda FX real spread on MT4

Trading Accounts

Account type Minimum deposit Minimum trade size Maximum leverage Avg.Spread
Standard $ $1 1:50 1.4 pips on EUR/USD, variable

There is only one standard type of trading account at OANDA. On the one hand, this limits clients’ choice; on the other, it means that all account holders are treated equally.

To make things even better, this broker doesn’t require any minimum deposit, nor minimum trade size. However, you need to have at least $1 in your account balance in order to initiate a trade.

The Company

OANDA is one of the pioneer online forex brokers. Established back in 1996, It is now a large group with offices in Toronto, San Francisco, New York, London, Singapore, Tokyo, and Sydney. ALL group companies are duly regulated by the relevant authorities in the US, Singapore, Canada, the UK, Japan and Australia.

OANDA offers Internet-based forex trading and currency information services to both retail and institutional customers. The broker is a market maker, having one of the largest currency databases in the world. Its product portfolio includes forex, index, commodity & bond CFDs, as well as precious metals.

Security of Funds

OANDA Corporation is a registered Futures Commission Merchant and Retail Foreign Exchange Dealer with the Commodity Futures Trading Commission and is a member of the National Futures Association.

Brokers that are registered with the NFA are obliged to comply with an extensive set of rules. Unfortunately, these rules are often limiting from traders’ point of view, but there is no way around them. For instance, hedging is not allowed and leverage is limited to 1:50, while European brokers are free to provide leverages up to 1:1000 or even higher than that.

Besides, NFA-registered brokers are required to maintain a net capital of at least $20 million to guarantee customers’ positions, which makes them super safe to invest with. Similar minimum capital requirements apply in most jurisdictions, for instance UK-based brokers are obliged to hold at least 730 000 EUR in order to prove their financial stability, and Australian ones must possess a minimum of $ 1 million in order to operate legitimately.

All OANDA Subsidiaries, including OANDA Asia Pacific Pte. Ltd. (Singapore), OANDA (Canada) Corporation ULC (Canada), OANDA Europe Limited (UK), OANDA Japan Inc. (Japan) and OANDA Australia Pty Ltd. (Australia) are duly licensed and regulated by the respective bodies.

Trading Conditions

Minimum Initial Deposit

OANDA has no minimum deposit requirements for opening an account. This makes it attractive for risk averse or inexperienced traders who are not willing to invest a large amount of money.

Most brokers require a certain minimum initial deposit in order to cover the costs related to opening a new account. For instance, Forex.com demands $250 from its clients to start with, and FXCM – $50.

Average spreads & Commissions
This broker offers variable spreads, the average ones on EUR/USD amounting to 1.4 pips, which is on the upper end of average. Clients, however, take advantage of commission-free trading, as OANDA doesn’t charge any commission for their trading services, nor any account maintenance fees. Instead, the broker gets its remuneration through the spread.

In comparison, FOREX.com, also a global FSA-regulated broker and market maker, offers average spread of 1.8 pips on EUR/USD and also charges no commission fees. You may look up real-time spread of 15 leading brokers here.

Maximum Leverage
OANDA offers a maximum leverage level of 1:50 on FX products, which is quite low, however, the broker has no choice, since US regulator has set a limitation on leverage ratios. CFTC limits leverage available to retail forex traders in the United States to 1:50 on major currency pairs and 20:1 for all others.

If you need higher leverage, you can pick a broker, who offers leverage ratios of 1:500 and exceeding 1:500 from this list. We advise traders to exercise caution when using higher leverage levels, for such rates may not only multiply their earnings on a small deposit, but also lead to heavy losses in excess of the initial investments made.

Trading Platforms

Oanda provides its clients with a choice of threetrading platforms: its custom-made fxTrade, Protrader Multi-Connect (PTMC) and the popular MetaTrader 4.

fxTrade comes in desktop, web and mobile versions. It has a simple, yet effective interface, and what is more important – superb execution speed. According to OANDA`s website, this platform executes 98% of trades within 0.057 seconds or less, which is super-fast.

Furthermore, fxTrade is equipped with intuitive and powerful charting features, multiple sub-accounts to test different trading strategies and financial news and market analysis from leading news providers.

We presume that fxTrade is aimed mostly at new traders, since it has all the usual functionalities, but more advanced features are missing.

Oanda`s proprietary fxTrade. Click to enlarge.

Oanda recently added to its platforrms line up Protrader, developed by PFSOFT. Protrader offers everything regular forex trading platforms do: Advanced charts and technical analysis, indicators, various order types, customization options, and auto trading options. In fact, Protrader has created AlgoStudio – a professional algorithmic strategy development tool. It enables users to test different types of data aggregation: time, ticks, range, Renko, LineBreak, etc.

In addition, Oanda offers the powerful MetaTrader 4, which is highly regarded by the online trading community mostly because it allows users to fully automate their trades. By choosing from a wide range of Expert Advisors (EAs), traders may sit back, while the program does all the work. What is more, it offers a number of technical indicators, extensive back-testing environment and advanced charting package. Here is a list of more forex brokers offering MT4 platform.

In addition, fxTrade bridges directly to MetaTrader 4 using custom-built technology, which we find useful.

Methods of Payment

OANDA offers its clients various methods to deposit/withdraw funds to and from their accounts. They vary, depending on the OANDA division of registration, but the main payment modes are debit/credit card, bank wire, checks, PayPal and UnionPay.


OANDA is a leading global forex broker, offering online trading in a wide range of currency pairs, CFDs and precious metals under attractive conditions. To sum up the above, here are the advantages and disadvantages of this broker:

Pros Cons
Variety of platforms offered Market maker
Mt4 available Low maximum leverage
No initial deposit required
No minimum trade size
No commission and account maintenance fees
  • Oanda reports record-breaking trading volumes and new client registrations Oct 20 2020 11:50:21
  • Oanda shuts down Currensee social trading network Oct 10 2020 09:03:38
  • OANDA to provide in depth forex analysis tools via MotiveWave trading platform Sep 02 2020 11:13:47
  • OANDA Releases Revolutionary fxTrade Mobile 4.0 Trading App for iPad Jul 23 2020 12:54:33
  • Oanda Partners with Autochartist to Provide Traders With Technical Analysis Tools Jul 16 2020 11:44:37
  • OANDA Opens Its fxTrade Platform for Custom Apps Jun 18 2020 10:57:20
  • Oanda Appoints Drew Izzo as Chief Marketing Officer Jun 10 2020 09:38:57
  • OANDA Opens in Australia, Intends to Double Its Market Share May 15 2020 03:54:13
  • OANDA Officially Rolls out Marketplace for Forex Solutions Apr 17 2020 10:46:39
  • OANDA Beefs up Asia Pacific Management, Plans Sydney Office Apr 03 2020 12:01:03
  • OANDA, World First Release New Payment Service in Four Countries Apr 01 2020 13:49:26
  • OANDA Officially Launches Trade Leaders Program Mar 24 2020 11:09:29
  • OANDA Canada Offers Super Fast Account Registration Mar 18 2020 10:51:50
  • OANDA’s Senior Currency Tech Analyst: Trading is a Mental Game Feb 25 2020 12:08:37
  • OANDA Enhances fxTrade Mobile App to Suit Chinese Traders Feb 23 2020 09:09:00
  • OANDA Launches Marketplace for Forex Apps Feb 05 2020 07:16:49
  • OANDA Offers BeeksFX VPS to Users of fxTrade Feb 04 2020 09:05:20
  • OANDA Clinches Partnership with Payments Expert World First Jan 13 2020 08:58:53
  • Pros and Cons of OANDA’s Trade Leaders Program Jan 12 2020 17:45:56
  • 2020 in Review: OANDA Jan 01 2020 07:00:00
  • OANDA Launches Tool for 3D Forex Market Analysis Dec 04 2020 11:52:42
  • OANDA Names Edmond Eger III its New President, Chief Exec Dec 03 2020 07:05:40
  • OANDA Takes Over Social Forex Trading Platform Currensee Sep 25 2020 06:20:40
  • OANDA Enrolls Former BlackBerry Exec as Chief Tech Officer Sep 24 2020 07:58:05
  • OANDA Introduces Updated fxTrade Mobile Apps: Tech Extras Flourish Aug 20 2020 12:16:47
  • OANDA Enters into Partnership with Autochartist Jul 22 2020 12:28:12
  • OANDA Asia Pacific Adds CFD to Its Forex and Precious Metals Offering Jun 18 2020 07:56:53
  • OANDA Launches Affiliate Program for Introducing Brokers Jun 06 2020 13:18:49
  • OANDA Sponsors Live Analysis Room with Longtime Forex Expert Dale Pinkert Jun 03 2020 09:40:04
  • Oanda Upgrades Its Browser Extension: fxTradeNOW 2.0 May 30 2020 09:43:39
  • The Forex Customer Support Challenge: OANDA May 28 2020 15:02:18
  • Four More CFDs Tradable At Oanda Europe Apr 30 2020 09:49:35
  • Oanda Pinpoints the Top 5 Mobile Finance Trends for 2020 Apr 23 2020 12:17:52
  • Calculate Your Bitcoins’ Worth With the OANDA Currency Converter Apr 23 2020 10:00:15
  • OANDA’s Four Reasons for the Gold Sell-Off Apr 16 2020 13:13:30
  • New GlobalFX Software Wins FinTech Hackathon 2020 Award From OANDA Apr 12 2020 10:01:47
  • OANDA Launches New and Improved fxTrade Mobile App Mar 26 2020 10:38:36
  • $5,000 Up for Grabs in OANDA’s Myfxbook Demo Contest Mar 06 2020 15:08:48
  • Oanda fxUnity Platform Sent to Early Retirement Mar 01 2020 14:01:04
  • OANDA Extends Tech Outreach by Sponsoring HackerNest Toronto Feb 25 2020 12:08:57
  • OANDA Brings CFD Trading to Canada Feb 14 2020 13:57:59
  • Oanda Presents fxTrade Bridge for Metatrader 4 Jan 28 2020 14:33:04
  • 2020 In Review: OANDA Dec 25 2020 12:00:00
  • Oanda Expands Its Offering with 12 New CFD Instruments Dec 11 2020 15:25:39
  • Oanda Ends the Year With a Shelf Full of Forex Awards Dec 07 2020 14:38:24
  • Oanda’s Hack Days: Incubators for Ideas Nov 27 2020 15:19:12
  • Oanda Upgrades the fxTrade Platform with More Chart Timeframes Oct 26 2020 13:06:48
  • Oanda: Better Forex Education and Management Changes Oct 22 2020 11:29:42
  • Trade Forex from Any Web Page with Oanda fxTradeNow Oct 10 2020 12:21:32
  • OANDA announces third annual fxUni – a forex education program for students Sep 19 2020 08:44:51
  • OANDA Asia Pacific opens a new office in Singapore Aug 27 2020 12:48:00
  • Oanda celebrates its 1,000,000,000th forex transaction Aug 23 2020 08:27:06
  • Oanda named Best Global Forex Broker at the 2020 IBTimes Trading Awards Aug 22 2020 08:16:27
  • OANDA Integrates StockTwits with its iPhone App Jul 19 2020 11:51:53
  • Oanda puts an end to forex trading during weekends Jul 06 2020 11:55:40
  • OANDA adds platinum and palladium to its fxTrade platform Jun 25 2020 08:26:29
  • OANDA’s fxUnity trading platform now available for Asian traders May 10 2020 14:26:03
  • HSBC partners with Oanda to offer margin forex in Hong Kong Apr 25 2020 07:36:58
  • OANDA fxUnity – a new social forex trading platform Apr 03 2020 13:31:46
  • Oanda Europe launches CFD trading on its fxTrade platform Mar 19 2020 10:28:18
  • Alcatel preloads its Android phones with Oanda’s currency converter Dec 12 2020 12:15:57
  • MyFxBook supports Oanda fxTrade and fxTrade Practice accounts now Nov 14 2020 16:23:00
  • Oanda added 17 more precious metal cross pairs to fxTrade Oct 12 2020 12:43:54
  • OANDA Japan starts operating as an independent organization Aug 22 2020 09:58:18
  • OANDA to offfer more CHF and HDK currency pairs Jul 14 2020 21:00:00
  • OANDA offers 1:1 non-leveraged Gold and Silver trading Jun 26 2020 21:00:00
  • OANDA Europe – London based and FSA Regulated Forex broker Jun 21 2020 21:00:00
  • OANDA Got FSA UK License May 30 2020 21:00:00
  • OANDA is introducing First In First Out (FIFO) to comply with NFA regulations May 29 2020 21:00:00
  • Wanna Trade Chinese Yuan? May 08 2020 21:00:00
  • OANDA Add 7 More Currency Pairs to fxTrade Forex Trading Platform May 08 2020 21:00:00
  • Oanda Releases Top 100 Forex Traders Statistics Apr 27 2020 21:00:00
  • OANDA Launches Metatrader 4 Jan 16 2020 22:00:00

less news.

Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

Trading212 is a European broker with an excellent proprietary trading platform, which is now available as an iPhone app as well (we tried it out and we loved it). Trading 212’s customers enjoy fast execution a vast selection of trading instruments.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
UK FCA Web €29 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
$50 Review Website
UK, Australia, Singapore FCA, ASIC, MAS, BaFin MT4, Web,
$0 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for OANDA


* All times are GMT. The time now is hh:mm

Our SpreadMonitor is designed to scan OANDA quotes tick by tick and to provide you with unbiased information about average, minimum and maximum spread for the last hour, day, week and month.

At the present moment we are able to provide spread data only from OANDA MT4 account. According to OANDA the spreads on its fxTrade platform are the same.

Although spreads are an important factor in choosing a forex broker, you also should take into account commisions, slippage, regulation and broker’s reputation.


Slippage is the difference between the price you’ve placed your market or pending order at and the price broker have executed it at. Our slippage data is sampled from over 1000 real accounts, following the top 10 Zulutrade signal providers. Unfortunately Oanda is not among Zulutrade’s partners and we can’t provide you with unbiased info on its slippage.

Although OANDA is a market-maker, during volatile market your orders may be filled with positive as well as with negative slippage.

Keep in mind that slippage may vary from trader to trader, depending on trading style, liquidity during the time of day when orders are executed, server location, network lag etc. Trading during volatile market (e.g. news releases) and low liquidity times (e.g. pre-Tokyo open Asian session) can lead to excessive slippage. To find our what is the slippage on your own trades with OANDA or any other MT4 broker, download our free EA.


Oanda doesn’t requote – all market orders are executed at first available price.

Price feed

Oanda is the only major forex broker with price feed running 24/7. During weekend spreads on EUR/USD widen up to 10 pips, but you still can open or close a trade if you need to.

Some traders complain of stop hunting. Trading with a market maker, taking the other side of your trade, involves certain risks.



fxTrade is the Oanda’s in-house developed web based platform, accessible from all popular browsers. Mac and Firewall friendly solution.

Benefits of using Oanda fxTrade

– One click dealing – get your trades executed automatically and settled immediately with a single click

– Slippage control – prevent unwanted order execution in volatile market

– Trade from the chart – manage stop losses, take profits, and trailing stops directly from the chart

– Hot Keys – use keyboard shortcuts to trade and manage your positions

Oanda fxTrade is available in the following languages: English, Chinese (Simplified and Traditional), Japanese, Spanish, German, French, Italian, Japanese, Korean, Portuguese and Russian.


Back in January 2020 OANDA launched Metatrader 4 (MT4), the world’s most popular third-party trading platform, developed by Metaquotes Corp. OANDA MT4 is bridged directly to fxTrade, so you can access your account with OANDA using both platforms and the same login and pass.

Benefits of using FXCM MT4

– No trade restriction – no restrictions on placing SL, TP or pending orders. Micro lot trading is available. Scalping is allowed.

– Build and backtest your own automated trading strategies.

– No requotes. Ever.

WARNING: OANDA is experiencing delays in the MT4 server which is supported by MetaQuotes. Order processing may take up to 5 minutes, which may lead to massive slippage. Both companies are still working to get the issue resolved.

In order to avoid execution problems we recommend you to use Oanda fxTrade platfrom.


Bank Wire

Bank Wire

Customer service

Oanda customer sevice reps are available 24/7 and always ready to help.


1$ minimum deposit

1$ minimum contract size

Regulated by NFA and CFTC

Spread widens up during news releases

Order execution delays on MT4 platform

Oanda is a video game not a forex company

Oanda is a video game. I came across this recently. It is from Oanda


The caps aren’t mine. What this means is the data you’ve been analyzing and charting on their platforms has no relevance to real market data. They make that shit up stop you out any time you are close to slf , delay execution if you are going to win and “if you are using your own homegrown system for generating buy sell moves and winning they will hack you to steal your product.

Since they are not conducting business on a forex exchange they should not be called a forex company.

Maximum Spreads

To talk about average spreads and not mention maximum spreads is misleading. A trader needs to know both, especially when spreads can blow out to hundreds of pips on major pairs. For example AUD USD spreads on Oanda’s platform today (6 February 2020) blew out to over 243 pips. A trader must have a strategy to deal with this, not just the average spread which, of course, are way lower. And you must ask; how do other brokers max spreads compare.
I traded with Oanda for more than a decade and records for maximum spreads keep being broken, which make it very hard to effectively use stops in a risk management system.

Oanda Class action

OANDA falsely advertises low and competitive spreads and no commission,
There is a court class action in preparation for this and other deceptions and overcharges.
Those who want to join this class action please contact:
[email protected]

Brokerchooser Oanda review

+fast account opening
+lower spreads on Premium account
+great compliance with regulation
+customer support

-lack of equity CFDs
-fxTrade platform quite poor

transparent pricing & great trading options

I have been trading with Oanda for a couple of months now using both demo and live accounts. After much training, including reading and testing strategies, I am beginning to profit and have had no problems with this broker so far.

The only problem I found with Oanda is their MT4 platform, which I find quite sluggish, so I don`t recommend anyone to use it.
Here is another piece of advice: If you are watching your TP/SL lines during a quick trade, be sure to switch your chart to the bid or ask prices (from whatever it was, candle, line or otherwise), as that will show you more accurately when the market candle will hit your line and either tap you out or take a profit.
In my opinion, OANDA offers transparent pricing, great tools (Guppy alerts & Autochartist) and great free tutorials on their website. So I recommend them to both newbies and experienced users.

I do not recommend it!

I applied for a live account, send some documents and everything seemed fine until I decided to register using cahbackforex link to get some rebates for my trades. I asked my account manager about this service, but she and the whole support team ignored my requests several times. In the end thy told me that they will not discuss this issue and I must solve the problem on my own.
When I sent them the scanned original copy of bank statement with all the stamps and signatures of my bank, my account manager told me that I need a “true copy” stamp and they will not accept the one I’ve sent them.
This is how my trading with OANDA UK finished before it has started.

your money is safe

I`m not sure why so many small brokers rate better than Oanda. This broker offers all that others do, plus the comfort of knowing your money is safe with this well capitalized global group. Yes, they are a market maker which causes them to have high spreads once in a while, but safety of funds is crucial in uncertain times.
Oanda is a regulated broker in various jurisdictions, that has set no lot size and no minimum deposit requirements, and besides you can use several different platforms, Meta Trader 4 included.

Oanda review

Oanda is very old and reliable broker, with many licenses. That’s why I opened an account with them. A lot of interesting services and good pack of instruments. But when I started trading I faced a lot of problems: sometimes my SLs was removed, spreads are often higher then must be.

I left Them

Yes, After many bad trades caused by Huge Slippages i have closed my trading accounts with them.

Now i am trading with FXGROW who are very good ECN Brokers and have good trading conditions for us.

Moscow, Moscow City Russian Federation

Deteriorating service

I have an account with Oanda Australia for about 10 mos. now.
I also use to have an account with Oanda Singapore for almost two years. Their service have deteriorated for the worst.

-easy to open an account especially if you submitted all required
-you can trade minilots and with only a small amount of capital
-easy withdrawals and deposits
-If you email them regarding any issues they will answer promptly

-Connectivity- Issues with connectivity is a headache and a nightmare. You simply cannot trade during news events and even during non news event. If there is large price fluctuation expect to be disconnected from their platform. You can be disconnected numerous times in a day and sometimes for more than 4 hours at a time. Yes this happened for more than a week now. It used to be that they will disconnect you only during news events that will last only for several minutes. Not anymore! If you are a scalper, forget it. You will not be able to access the fxtrade desktop and web platform. Even then, if you are lucky to be connected to the platform, the charts will not be displaying. Troubleshooting and updating your java, browser, etc., will not solve the issue. Even contacting your internet provider will not help because it is in their end. You just have to wait until it came back which is several hours later with your account already close if you are unlucky.

-Quotes- Beware, there is a large variation between oanda’s quote and current market. Always compare oanda’s quotes with other broker or charting websites. This is especially true with energy instruments and one index that I follow. Quote variation can be 60-100 pips sometimes or more. This is very apparent for NGAS, oanda is showing a max price of 2.25 for daily while in one broker and other charting website it is around 3.5-3.7 for the Oct 27-29 quotes. I asked them for clarification and they give me an explanation about interest and finance charges and other computations that did not really answered my questions. They cannot explain how they have substantial downward price swing while others are showing substantial upward price swing. I’m still waiting again for their reply. For currency pairs there is not much difference in quotes from what I have noticed. Always have screenshots for proof.

-Customer Service- A pop-up message in Live help will display nonavailability because it is not business hours when in fact you are contacting them during business hours. It will entail several tries before that change from not available to an available agent.
Do not trade with this broker. Definitely not for scalpers. If you are always disconnected, how can you trade?

F**K OANDA they Charged me instantly 40 PIP SPREAD

I took a 1 lot trade with Oanda and they Charged me 40 PIP spread on NZDUSD . IF you go on there website it shows you there spread history and its a JOKE it says AVG Spread during news is 5.5 pips . if you click Max spread you will see they charge 8x that amount . 40pips right off the bat that’s $400. I lost $400 in .01 seconds.

BEWARE if you use them. and don’t trade during news with these a-holes

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