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Independent rating of Forex broker Oanda

3/10 (votes 100)

On-line since
1995
Country of origin
US
Regulation
CFTC, NFA, MAS, IIROC, FCA, FSA, FFAJ, ASIC
Payment options
bank transfer, checks, PayPal
Minimum account size
$1
Minimum lot size
0.001
Leverage
1:50
Spreads
variable, 1.3 pips on EUR/USD
Oanda is a regulated and long-standing broker. The company is sure to gain favour with experienced traders who are eager to test a new platform in the forex market. Oanda officially operates in the United States which is a big advantage since brokerage companies are strictly regulated in this country. The company's offices are also located in Singapore, Sydney, Tokyo, Toronto, San Francisco, and London. There are no Oanda offices in CIS countries.

The company has a number of awards and is also on the list of brokers recommended for cooperation. Trading conditions are equally comfortable for both experienced and novice traders. However, the company is more suitable for professional traders. Oanda tries to differentiate itself among its competitors with superior execution quality and transparency. The broker offers its clients a wide range of lot sizes. So, this fact can partially cover the existing shortcomings, including the lack of cryptocurrencies.

Traders will have to do some training in order to fully take advantage of all the tools and analytics offered by the company. Educational platforms are available for traders at Oanda. However, sometimes the navigation can be difficult as not all the materials are located in a single place. This is one of the reasons why users often give low rating to the broker.

Pros
  • Accounts can be opened with as little as one dollar
  • The broker is regulated by major regulatory bodies
  • Traders can access 71 currency pairs and a wide variety of other asset classes
  • Traders can use platforms like MetaTrader 4 or Oanda's custom-built web and desktop trading software


Cons
  • Traders do not have access to cryptocurrencies or single-stock CFDs
  • Customer service representatives are slow to respond
  • Accounts do not have a negative-balance or slippage protection
  • Some research and news resources are only available by launching external web pages or applications which is not always convenient


Additional info
Oanda provides traders with economic analysis, real-time news feeds, calendars, and advanced data analytics. The quality of the resources is rather high, but some investors may find it difficult to use and understand the materials without prior training.

The broker offers the leverage of 1:50. On Monday and Friday evening, the ratio decreases to 1:20. This rule is stated in terms and conditions. Investors should also consider the fact that in the platform, quotes are displayed up to the fifth figure.Oanda’s customer support has no Russian language option. All queries must be submitted in English. Otherwise, they will not be answered. 

Despite the trusted name and an overall excellent service, some negative reviews can be found on forums.

Comments

Author: Anastacia Date: 2022-04-13 01:27:07 (UTC+3)
I don't have a bad opinion about Oanda. About their website is clearly managed well and the design is pretty well too. the sections of the website is really good. I read the analysis and forecasts section every day, and all that they published helps me learn a lot about taking my trading order. I got a good support, interesting analytics and reviews and good information to learn how to trade. They had a responsive customer service too. So, i keep using this broker. I can make deals with enough comfort. In addition, their support department is ok. I don't need to stand alone with any troubles if they are. I think it's worth giving a try.
Author: Anastacia Date: 2022-04-13 01:27:06 (UTC+3)
I don't have a bad opinion about Oanda. About their website is clearly managed well and the design is pretty well too. the sections of the website is really good. I read the analysis and forecasts section every day, and all that they published helps me learn a lot about taking my trading order. I got a good support, interesting analytics and reviews and good information to learn how to trade. They had a responsive customer service too. So, i keep using this broker. I can make deals with enough comfort. In addition, their support department is ok. I don't need to stand alone with any troubles if they are. I think it's worth giving a try.
Author: Anastacia Date: 2022-04-13 01:27:06 (UTC+3)
I don't have a bad opinion about Oanda. About their website is clearly managed well and the design is pretty well too. the sections of the website is really good. I read the analysis and forecasts section every day, and all that they published helps me learn a lot about taking my trading order. I got a good support, interesting analytics and reviews and good information to learn how to trade. They had a responsive customer service too. So, i keep using this broker. I can make deals with enough comfort. In addition, their support department is ok. I don't need to stand alone with any troubles if they are. I think it's worth giving a try.
Author: Yossie Date: 2021-12-17 01:39:51 (UTC+3)
I invested $200 and my average monthly profit is around $110. Their trading platform is perfect for me . As for their execution, most of the time there are good fills. After made a few orders trade and get total profit $225. I made two withdraws for a $220, $250. Both are took less than one hour to withdraw through bank transfer. With all others brokers always had problems with withdrawal. So overall, it has been good for me as a trader.
Author: Beth Date: 2021-11-16 06:14:31 (UTC+3)
Oanda has been an honest and reliable broker to me. They always make sure to provide the best services to give us an excellent trading experience. When it comes to payment systems, the broker is also efficient.
Author: Kamus Date: 2021-08-27 02:32:27 (UTC+3)
Execution of orders is fast, i don't have problems with my withdrawals or deposits, just one time I couldn't withdrawal $300 of earnings I made. But it was ok now. I am pleased with them till now.I trade shares,commodities and metals with them. The platform works fast and I never got re-quotes, and the broker is not manipulating the prices during volatility times.
Author: Sara Date: 2021-04-19 04:12:07 (UTC+3)
I continue to invite my friends to join this forex because I want them to feel like my success as well. So far it’s been nearly 20 months and I’m satisfied with their system and services. I would recommend to others if you're looking for reliable and good service. I also have a demo account for 2 weeks and now open a real account. So far it's been great and I have never done this before. I haven't faced requote and never closed a trade with negative slipage. I feel secure cause and money feels secure with Oanda and thanks to the quick and helpful customer service.
Author: Hashim Date: 2021-03-31 06:33:26 (UTC+3)
Oanda is a very popular broker. It has also been in business for a many years already so we can see that they are serving their clients well. I started investing with them last year and the trading interface is excellent. My trades are executed instantly and the fees are very low.
Author: Aleksandar Date: 2021-02-08 08:28:56 (UTC+3)
I've found a poor execution on the Oanda's fxTrade platform, As my orders execute time is so long and orders go 10 to 40 pips slippage. If I make a complained to Oanda's support, they say it happens when a big news event. But, I've found their price quotes isn't live, So I think Oanda broker doing an unfair activity with us. So I have confused to trade with Oanda broker so far.
Author: Chris Date: 2020-12-21 01:47:46 (UTC+3)
Oanda gave me opportunities to step up my game and I am utterly grateful for that. I deposited $1500 for trading, and I earned profit with $1000 at first time. Oanda has very low spreads and their execution is very good and slippage is almost none. I've made profit over $5000 at this broker over the past 3 months. I also like their payment system. Thankyou.

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