Initially, I was a little disappointed during testing to find that market coverage varies significantly at OANDA depending on your jurisdiction. However, I don’t consider this a major drawback since they are prohibited by several regulators. My research into OANDA uncovered a solid regulatory status and an excellent reputation, with a history spanning over 25 years. This gives me peace of mind and the assurance of a trustworthy broker.

Range of Markets

• It’s important to understand the range and limitations of tradable products for each.
• With strong regulation, excellent customer service, and a commitment to innovation, OANDA provides a solid choice for anyone looking to navigate global markets with confidence.
• Each account type offers unique features, enabling traders to choose the one that best fits their trading style and capital requirements.
• Filippo Ucchino has developed a quasi-scientific approach to analyzing brokers, their services, offers, trading apps and platforms.
• This includes the OANDA Corporation, which operates in the US and is regulated by CFTC/NFA.

OANDA’s customer support team is proficient in several languages to accommodate their diverse clientele. They can assist you in languages including English, Spanish, French, German, Italian, Portuguese, Chinese, Japanese, and more, ensuring effective communication and support. The broker offers multilingual support that can be accessed 24 hours a day, 5 days a week through several diverse ways.

Our broker ratings are also informed by the experience of our researchers during the evaluation process. IG’s standout features are its advanced trading platforms and zero commission on US and UK shares. A feature that sets OANDA apart is how they cater to forex traders of all levels, from novice to experienced.

• The OANDA Group has multiple subsidiaries who are licensed to offer products to clients around the globe.
• Additionally, OANDA offers mobile trading apps for both iOS and Android devices, ensuring traders can monitor and manage their trades on the go.
• Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital.
• OANDA offers the MetaTrader 4 app for mobile trading, which is available for Android and iOS.
• Oanda is also well-regulated by 6 respected regulatory bodies in different jurisdictions.
• Despite developing a proprietary trading platform, Oanda delivers one of the best MT4 upgrade packages with 28 plug-ins.

While some traders may prefer brokers offering higher leverage, the security and trustworthiness provided by OANDA’s regulation are a significant draw for those prioritizing safety over risk. The broker’s transparency and regulatory compliance make it a reliable choice for traders globally. OANDA provides a flexible range of accounts suitable for both beginners and experienced traders. While the Standard account is accessible to all, the Premium and Premium Plus accounts cater to more advanced traders with added benefits like rebates, dedicated support, and lower spreads. The variety of account types ensures that OANDA can meet the needs of traders at all levels, offering excellent value for high-volume traders and comprehensive tools and resources for everyone.

Oanda Mobile Platform

We also really like the ability to overlay multiple currency pairs onto a single chart for comparison. This is a function that is not seen on MT4 and is a strong feature of the platform. Most importantly, having many regulatory licences means that OANDA is a broker that people from all over the world can trade with. Forex brokers can be restricted from operating in certain countries due to their lack of regulatory licences.

Security and Money Guarantees

These accounts vary in spreads, commissions, and additional benefits. Oanda is a reliable broker known for offering competitive spreads on Contracts for Difference (CFDs). With over 100 trading instruments available, it boasts a 98 out of 100 trust score. Additionally, Oanda is fully regulated by three tier-1 authorities, the industry’s highest regulatory standards. These pricing options are easy to find on OANDA’s website(s) and are available for both account types that the broker offers, although the shown spreads will vary.

Some are available to everyone, whilst other premium content you will need to have a trading account to attend. This table shows how OANDA matches up against rival brokers on major forex pip spreads (both a minimum and average basis). Trading fees can be an extremely important factor that will eat into your profit and loss at the end of the month. You want to be trading with a broker where the fees are as low as possible. UK clients can reduce their tax bill by trading over 100 instruments across all the asset classes through the spread betting account.

Spread Betting Account

A demo account is available, offering a glimpse into OANDA and its resources. Overall, the feedback is generally positive, with review sites like Trustpilot showing a rating of 4.1 stars. While there are some hits to customer support, the majority of community reviews praise the support offered by OANDA. OANDA’s partnership with TradingView is a notable asset for forex traders. With this partnership comes robust analytical tools and charts for efficient, informed trading. Having this integration means that trades can be made without the need to switch between platforms for real-time information.

It provides real-time information on transactions and profit/loss breakdown of your portfolio. OANDA offers features that analyze trading history and trading activity. With the MetaTrader platform, you get to use automatic chart pattern recognition tools. This helps in analyzing key levels in the chart such as oanda review supports and resistances. OANDA also offers trading on soft commodities like coffee, cocoa, sugar, and cotton through CFDs.

Range of Offerings

OANDA is regulated by several prominent regulatory bodies, ensuring compliance with stringent financial regulations. OANDA’s adherence to these regulations provides traders with a sense of security and confidence. OANDA offers a comprehensive suite of tools designed to enhance the trading experience and provide valuable insights to its users. Filippo Ucchino created InvestinGoal, a comparison site and educational portal for the online trading and investing industry. Through InvestinGoal, Ucchino helps users navigate the world of online investing and trading by providing trading guides, best brokers rankings, broker reviews, and broker comparisons. These benefits include a reduced spread by a maximum of 0.3pips, a reduced forex commision by a maximum of $15, access to more trading tools, your own VPS, a personal relationship manager, and more.

Both brokers trade currencies and CFDs, but FOREX.com also trades stocks. So if you’re a stocks investor who also wants to trade currencies, FOREX.com would be a better fit for you. Once you’ve submitted your application to open an account, OANDA’s onboarding team will review it and get back to you after about 3 days. It also has a Market Insights series that gives analysis updates each day.

OANDA has somewhat mixed reviews for customer support, which is a factor we’ll discuss in more detail. On the topic of security, we suggest learning more about the best forex VPS to ensure the safest, most reliable connection that caters to the needs of forex traders. Another significant comparison is the fact that Oanda is available to US clients. Many brokers shy away from this due to the many regulations involved in being accessible to the US. Still, the case is very different with Oanda, as they are licensed to operate in most states.

For premium account holders, tighter spreads are available, which can significantly reduce trading costs for high-frequency traders. OANDA also offers swap-free accounts, catering to clients who require interest-free trading conditions. OANDA offers floating spreads, which means spreads can vary based on market conditions. The broker’s average spread for major forex pairs like EUR/USD is 1.1 pips, which is competitive within the industry.