Oanda Review 2023 Multi-regulated and established online broker

OANDA offers an impressive array of economic analysis, real-time news feeds, calendars, and advanced data analytics that are unusual to find in a retail trading platform. In addition to FX, the broker also offers indices, metals, commodities, and bonds to provide trading opportunities across financial markets. Oanda offers a demo trading account, but unfortunately it’s not available through the mobile app. You can access Oanda’s web interface through your smartphone, but the experience is far from seamless. This is somewhat disappointing, since it means you have to trade live in order to use the Oanda app.

Sometimes it was around 0.3% to 0.5% of my account and weekends were almost 1%. So if you hold a trade for a month which is 20 trading days, you pay them astonishing 5 to 10% monthly fee of your invested capital. I have to mention I was always full margin, but 10% monthly from my equity? If you want us to investigate what happened to your account, please reach out to with a copy of this review and we will look into this further.

How good is Oanda’s trading app?

I’d like to know what your experiences you’ve had with them if you use them as your broker. I don’t mind there being outages and issues, but send some kind of communication so as a consumer, trader, and investor, I know oanda forex broker review you have my best interests at heart. I would feel more comfortable knowing it’s a temporary issue than ongoing poor service, but if there is no communication you give me no other choice but to assume the worst.

Select from one of the available price quotes to open a chart for that currency pair. Email responses can take several days, so we recommend calling or trying the live chat for most pressing support questions. Once you have open positions or orders, you can monitor them at any time through the order form menu.

What Can You Trade on the Oanda App?

If you wish to discuss anything further, please email our team at with a screenshot of this review. All of the information and materials available on PublicFinanceInternational.org is not financial advice and is for general informational purposes only. Nor PublicFinanceInternational or any of our affiliates makes any recommendation or implies any action based on the information we proved to you. We don’t make any solicitation or recommendation to take any action or trade or invest in any financial instrument, asset, or commodity. Oanda has a dedicated team of customer service 24/7 in various languages, including English, German, French, Spanish, Russian, Chinese, Japanese, and Korean. From our Oanda detailed review, we have compiled a list of reasons to use the broker for online trading.

Information on FairForexBrokers.com should not be seen as a recommendation to trade CFDs or cryptocurrencies or to be considered as investment advice. FairForexBrokers.com is not licensed nor authorised to provide advice on investing and related matters. Traders at Oanda are offered a core pricing + commission trading option, calculated per 100,000 units traded. Commissions are charged on both the buy and sell side of each trade and taken directly from the client’s account when a trade is executed. OANDA offers two account models with different pricing structures.

• Customer Support in OANDA is ranked good with an overall rating of 8.5 out of 10based on our testing.
• You can trade with them as you wish, you can be the scalper, intraday trader, long-term trader, hedge and other.
• OANDA charges a monthly inactivity fee in addition to fees for deposits/withdrawals, bank wire transfers, and if multiple debit card withdrawals are made in the same month.
• OANDA asserts that it is the sole execution venue for all its clients’ orders.
• You may have to pay financing fees and account maintenance fees, but you won’t come across any hidden costs that will shock you.

All educational tools are available under the ‘Learn’ menu, though their navigability could be improved. Take advantage of free tools such as educational resources, research resources, market analysis, and demo account. Oanda offers a wide range of powerful trading tools that help its clients to identify lucrative opportunities and develop effective trading strategies. The steps to open a live trading account at Oanda are similar to those of opening a demo account. You have to click on “Open a Trading Account” on the Oanda homepage and choose your country to reach the online sign in form.

Problematic trading platform

We do not provide financial advice, offer or make solicitation of any investments. OANDA is one of the top forex brokers in terms of US customer funds held. OANDA doesn’t attempt to be everything for all of your trading and investing needs. If you’re an investor looking to save for retirement, you should look elsewhere. However, if you’ve ever been interested in forex trading and the forex market, OANDA’s easy-to-use platform is a great place to get started and dip your toes into currency trading.

—- We also have one of the largest forex chatrooms online! —- /r/Forex is the official subreddit of FXGears.com, a trading forum run by professional traders. FXGears.com hosts and moderates our chatroom, and runs Volatility.RED as a resource site for traders. The main draw for Oanda is that they offer no minimum trade sizes.

Unlike most online brokers, Oanda does not distinguish between its clients with different types of trading accounts. Moreover, there is no minimum deposit requirement or minimum size trade, making it very attractive for beginners in Forex and CFD trading. Nevertheless, traders should consider that low deposits, lower the amount of leverage that can be accessed from Oanda for opening bigger market positions. Clients who have a live trading account can access the Oanda REST and FIX application program interfaces also referred to as APIs. Using APIs allows traders to develop automated Forex and CFD trading strategies. Additionally, traders can access a host of free educational tools including live webinars and video tutorials.

It is worth investing your time and effort in comparing the brokers before you invest with your real money. But now, it charges 10 units of currency (for example, $10 in the US) per month until the trader terminates the account or resumes trading again. The inactivity fee is charged if the account has no open trades for at least 12 months. In the spread-only pricing option, the broker’s commission is included in the spread.

Oanda Forex Broker and Its Customer Support Services

With the Oanda trading account, you can trade Bitcoin as well as Bitcoin cash using MetaTrader 4 and MetaTrader 5. Nevertheless, you can trade these as CFDs right from your mobile, tablet as well as a laptop. Keep in mind that the spread for bitcoin is $80 and for Bitcoin Cash is $2. In the Oanda platform, traders cannot access single-stock CFDs or cryptocurrencies. As per our Oanda review, a membership to Oanda implies that the trader can explore automated trading.

As a result, spread rates are calculated slightly above the market average. The range of markets available may vary according to the regional regulatory standards in effect. Oanda offers over 100 market instruments such as forex, bonds, precious metals, indices, and commodities. You must understand that Forex trading, while potentially profitable, can make you lose your money.

Being able to size positions in units instead of lots allows for a lot of flexibility when learning to trade. I haven’t spent a lot of time with FXCM but the home screen seems like a glorified quote board. I think I’d rather just use limit orders and have lower spreads than use FXCM. I don’t think FXCM is looking to ‘get me’ on a $100 trade or anything. I personally hate their fxTrade platform and ended up switching to MT4. I like how they average around 1 pip spread on eur/usd but the fact that it’s a dealing desk may put some people off.

Trading Tools to Help You Maximize Your Profits

The OANDA web trader is web-based and offers a streamlined trading experience, appealing to traders who want to avoid the complexity of third-party platforms. We found that the platform looks fantastic, is very easy to use, and has a solid reputation in the trading community. Before making any investments with a forex broker, make sure that the broker has a valid regulatory license.

The minimum deposit requirement to qualify is $25, while the maximum is $1,000. Terms and conditions apply, and I recommend traders read and understand them before requesting a bonus. There is a full range of trading https://forexarena.net/ tools including analysis reports and advanced charts powered by Trading View. You can also count on the economic overlay and other essential research tools that are useful to your successful trading experience.

However, it’s important to note that Oanda doesn’t offer any stock or ETF CFDs, and its range of CFDs overall is smaller even than what many competing forex broker offer. Our researchers and industry experts with more than 20 years of experience have written this Oanda review. Nevertheless, they are well experienced in forex and CFD, but multiple Oanda broker review let us know that they were forex brokers initially and expanded the service later. Well, this Oanda forex review will enlighten you about every detail of this broker, including the Oanda minimum deposit, Oanda account types, offered instruments, platforms, and more.