OANDA Review 2023 – Pros and Cons

UPDATED ON :

OANDA Corporation is a well known FX broker in the US. trusted and regulated for over 25 years. OANDA is registered in the United States and offers a wide variety of financial services to its clients in the majority of nations across the world. The business was established in 1996 and is now governed by four countries. Oanda operates via several entities worldwide and is regulated by top-tier authorities, such as the US Commodity Trading Futures Commission, National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC).

Disclaimer – OANDA Corporation is regulated by the CFTC/NFA. OANDA is a member Firm of the NFA (Member ID: 0325821). CFDs are not available to residents in the United States.

Crypto Disclaimer – OANDA CORPORATION IS A MEMBER OF NFA AND IS SUBJECT TO NFA’S REGULATORY OVERSIGHT AND EXAMINATIONS. HOWEVER, YOU SHOULD BE AWARE THAT NFA DOES NOT HAVE REGULATORY OVERSIGHT AUTHORITY OVER UNDERLYING OR SPOT VIRTUAL CURRENCY PRODUCTS OR TRANSACTIONS OR VIRTUAL CURRENCY EXCHANGES, CUSTODIANS OR MARKETS.

Oanda Review & Key Findings

OANDA

Brokers Name

OANDA

Regulation

NFA, CFTC

Established

2011

Headquarters

United States

Trading Desk

ECN, STP

USA Clients

Yes

24H Support

Yes

Weekend Support

Yes

Website Language

English, Chinese, Spanish, Bahasa Malaysia, Bahasa Indonesia, Español, French

Account Details

Accounts

Min. Deposit

$100

Base Currencies

EUR, USD, HKD, SGD, CAD, AUD, JPY, CHF, GBP

Leverage

1:50

Spreads

0.1

Fixed Spread

No

Margin Call / Stop Out

Stop Out – 50%

Trading Platform

Desktop, Mobile, WebTrader, MT4

Trading Instruments

Forex, Indices, Metals, Commodities and Cryptocurrencies

Pros

  • Regulated by multiple financial authorities
  • Offers a range of financial products, including forex, CFDs, and commodities
  • Advanced trading technology
  • Competitive pricing
  • Offers educational resources and tools for traders
  • Offers a variety of trading accounts to cater to different needs

Cons

  • Limited asset selection compared to some other brokers
  • Limited research and analysis tools
  • Limited bonuses and promotions compared to some other brokers
  • No fixed spreads, which may not be suitable for some traders
  • Limited customer support options outside of regular business hours

Trading Features

Commission

Yes

Mini Accounts

Yes

Standard Accounts

Yes

VIP Accounts

Yes

Pro Accounts

No

Islamic Accounts

No

Segregated

Yes

Managed Accounts

No

Demo Accounts

Yes

Trading Services

Hedging

Yes

News Trading

Yes

Scalping

Yes

Automated Trading

No

Trading Signals

No

Educational Service

No

Copy Trading

No

Mobile Trading

Yes

Trading Markets

Indices

Yes

Forex

Yes

CFDs

Yes

Commodities

Yes

ETFs

Yes

Stocks

Yes

Bonds

Yes

Crypto

Funding

Deposit

Wire transfer, Visa Card, Master Card, Neteller, Skrill

Withdrawal

Wire transfer, Visa Card, Master Card, Neteller, Skrill

Contacts

Phone

+1 212 858 7690

Email

frontdesk@oanda.com

Address

17 State Street, Suite 300, New York, NY 10004-1501

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