OANDA – Forex Broker Review and Customer feedback

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Oanda reviews

On-line since: 1997
Country of origin: USA
Regulation: Registerd with Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA ID #0325821)
Payment options: Check, Credit/debit cards ,PayPal, Wire transfer
Minimum account size: $1
Minimum lot size: 0.00001 lot
Leverage: 1:50
Spreads: 1.2 pips on EUR/USD

Oanda is the brokerage company that was founded in 1995. It provides innovative trading technologies on the forex market. By opening an account with Oanda, traders are offered access to currency and CFD operations, and also get a possibility to make use of the instruments that can boost their trading profit.

One of these instruments is a modern trading platform Oanda with the function of in-depth technical analysis, detailed and understandable charting, and access to information about currency and CFD markets.

The broker’s clients are individual traders, investors, large companies and corporations.

Oanda is a licensed participant of the forex market. The company has access to the world’s largest quotes archive. It also provides reliable information that is regularly updated.

OANDA Review

Overview

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

Details

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
Regulated
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:

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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.

Conclusion

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 отзывы

В он-лайне с: 1996
Страна: США
Регулируется: NFA, CySEC, ASIC, CFTC, MiFID, FCA
Способы расчетов: чеки, кредитные карты, банковские переводы
Минимальный размер счета: 0$
Минимальный размер сделки: 0,00001 лота
Кредитное плечо: до 1:50
Спрэды: плавающие

О компании:

OANDA считается одним из пионеров рынка онлайн-трейдинга в мире. Компанию основали профессор вычислительной техники Майкл Штумм и специалист по эконометрическим исследованиям доктор Ричард Олсен в 1996 году.

Для трейдинга доступны две торговых платформы – MetaTrader4 (MT4) и FXTrade WebTrader.

FXTrade имеет простой, но эффективный интерфейс, и что более важно – быструю скорость исполнения. По данным сайта OANDA, сделки на платформе исполняются менее чем за 1 секунду. Терминал оснащен функциями для построения графиков, трейдеры также могут проверить свои торговые стратегии, читать финансовые новости и анализ рынка от ведущих поставщиков новостей.

Кроме того, OANDA предлагает популярную платформу MetaTrader 4, которая высоко ценится в отрасли благодаря тому, что позволяет трейдерам полностью автоматизировать свои сделки.

Технически подкованные трейдеры могут построить собственную автоматизированную торговую систему с помощью OANDA FXTrade API.

Линейка торговых активов содержит валютные пары, индексы, товары и облигации, CFD и драгоценные металлы.

Хорошая новость – OANDA не устанавливает минимальный размер депозита для открытия счета, оставляя решение за трейдерами. Это особенно привлекает тех торговцев, которые не готовы вкладывать большие суммы денег. В компании существует единый торговый счет.

Комиссия и спреды

Этот брокер предлагает плавающие спреды. Для пары EUR/USD спред, в целом, составляет 1,4 пункта, что является средним показателем в отрасли. Спреды на индексы начинаются от 0,5 пункта.

Клиенты, однако, могут воспользоваться комиссионной свободной торговлей, а OANDA не взимает комиссию за свои торговые услуги и за обслуживание счетов. Брокер зарабатывает за счет спреда.

Образование и аналитика

Трейдеры могут учиться с помощью видео-тренингов, записываться на онлайн-семинары, читать актуальные финансовые новости, экспертный анализ тенденций. В дополнение к этому доступен экономический календарь и ряд статей о Форекс, которые будут интересны как начинающим, так и профессиональным трейдерам.

Поддержка работает круглосуточно с воскресенья (13:00 EST) по пятницу (18:00 EST). Для более оперативной связи клиентам предлагается выбрать продукт, с которым возникли сложности в работе, и тогда трейдера автоматически соединят с нужным специалистом.

Задать свои вопросы можно по телефону, электронной почте, факсу, в чате или посетив один из офисов в США, Канаде, Великобритании, Токио, Австралии, Сингапуре.

OANDA регулируется в шести различных странах местными органами – NFA, CySEC, ASIC, CFTC, MiFID, FCA.

Популярность брокера среди трейдеров объясняется возможностью автоматического проведения торгов, отсутствием требований к минимальному депозиту и объему торгов.

  • разнообразие торговых платформ;
  • отсутствие требований к первоначальному взносу;
  • отсутствие ограничений к минимальному размеру сделки;
  • отсутствие комиссии за обслуживание счета.
  • является маркет-мейкером;
  • небольшой размер кредитного плеча.

OANDA Review

OANDA Review and Rating 2020

Reviewed broker: OANDA

Operates under: Oanda Asia Pacific Pte. Ltd., Oanda Corporation ULC, Oanda Europe Limited, Opanda Japan Inc., Oanda Australia Pty Ltd.

Established in 1996

Located: Toronto, San Francisco, London, Tokyo, Sydney, Singapore, New York and Dubai

USA traders: Oanda is an American FX broker, hence US traders are accepted. Contracts for Difference (CFDs) or Precious Metals are NOT available to residents of the United States.

INNOVATIVE TOOLS FOR TRADERS

Trade FOREX and CFDs on our award-winning platform and benefit from our innovative analytical tools

Account Types and Trading Conditions

Trade over 100 instruments, including currency pairs, indices, commodities, bonds and metals

Trade all forex majors plus over 55 other FX pairs on our award-winning proprietary desktop platform, mobile apps or MT4 and access competitive spreads with no commissions.

Trading platform: Metatrader 4, FXtrade (web-based), Protrader

DESKTOP TRADING PLATFORM

Powerful, advanced charting

Easy to use, customizable platform

MOBILE TRADING PLATFORM

Rich charting and technical analysis

Up to date news and push notifications

METATRADER 4

Automated trading and full EA support

Customizable indicators and chart trading

Account types: standard

Demo account: yes, unlimited

Special feature: One of the notable features of OANDA is the ability to make your own ‘box options’ in real time. This way the broker allows you to mark your indicators on the charts so you can track the currency pairs to find the next move.

Spreads start from 1.4 pips

Spread types: variable

Maximum leverage is up to 50:1

DISCOVER INNOVATIVE TOOLS FOR TRADERS

Forex Order Book

A 24-hour summary of open orders and positions held by OANDA’s clients

Forex Historical Position Ratio

See how long-short positions held by OANDA clients have evolved over time

Forex Open Positions Ratio

See a breakdown of OANDA clients’ recent open positions across major pairs.

Currency Strength Heatmap

See where your currency ranks against other currencies traded against it

Payment methods: check, Credit cards, PayPal, Wire transfer

Minimum deposit requirement: $1

Advanced charting features: yes

AlgoStudio: professional algorithmic strategy development tool

Expert advisors: allowed

Automated trading: yes

API trading: available

Customer support: online chat, email, phone, fax

How was the rating of Oanda performed compared to other brokers?

This 2020 Forex Broker Review has been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers. The final grade is given based on Oanda FX broker performance and features.

Overall our online Oanda review was conducted with the details obtained from the demo trading and the forex brokers website. If you would like to add details to this online Oanda or you find inaccurate details Oanda broker review please get in touch with us and the changes will be applied.

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