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OANDA Review 2024

Dan Blystone
Updated: Nov 28, 2023
Overall Rating
  • Trust
  • Fees
  • Platforms and Tools
  • Tradable Instruments
  • Customer Support
  • Research
  • Deposit and Withdrawal
  • Account Types and Terms
  • Education
  • How Did We Test and Rate This Broker?
    When trading forex and CFDs, understanding a broker's strengths and weaknesses is essential. We developed a proprietary rating system, which is the result of extensive research and hands-on evaluation by our expert reviewers. With a rigorous approach, our reviewers manually assess each broker, investing more than 50 hours per review, checking and testing the broker while analyzing over 250 variables to simplify the broker selection process for you. The categories we evaluate include trustworthiness, trading platforms, customer support, regulatory oversight, spreads, fees, the variety of instruments offered, education, and research tools. This unique rating system is specifically developed to ensure that the assessment is based on firsthand knowledge and experience. By dedicating a significant amount of time to each review, our team of experts can provide in-depth insights and help you make well-informed decisions when choosing the broker that best suits your trading goals.

    In our review of OANDA, we focused on the services provided by OANDA Global Markets Ltd (, authorized and regulated by the British Virgin Islands Financial Services Commission. We conducted our tests using the MetaTrader 4 and MetaTrader 5 platforms. Some features and services may vary depending on where you reside.

    The OANDA Group has multiple subsidiaries that are licensed to offer products to clients around the globe. The OANDA subsidiary with whom a client contracts depends on their country of residence. Each subsidiary provides different products via different platforms, so clients will experience OANDA differently depending on their country of residence.

    CFDs are not available in the United States and spread betting is only available in the UK.

    The Big Picture

    Founded in 1996, OANDA is a leading multinational broker offering trading in CFDs on forex, indices, commodities, bonds, and cryptocurrencies. Four platforms are available to clients: OANDA Trade web, OANDA Trade desktop, MetaTrader 4, and the OANDA mobile app. OANDA has 8 corporate entities across the globe and is overseen by multiple top-tier regional regulators.

    Key Takeaways in 2023

    • We evaluated OANDA across nine categories (Trust/Stability, Fees, Tradable Instruments, Account Types, Deposit/Withdrawal, Research, Customer Support, Education, Platform/Tools).
    • OANDA excelled in the category of research with high-quality content from in-house analysts in article, video, and podcast formats. Third-party resources such as news from Dow Jones and analysis from Autochartist round out the offering.
    • Beginners can benefit from outstanding educational materials and demo accounts.
    • Advanced traders will appreciate the range of advanced platforms and can also take advantage of API access.

    What Sets OANDA Apart from Other Brokers?

    OANDA offers a larger range of trading platforms and tools than most brokers. Educational and research materials are also above average for the industry. OANDA is one of the most widely regulated brokers globally and one of only a small minority of forex and CFD brokers that offer their services in the United States.

    What types of traders are a good fit for OANDA?

    OANDA can cater well to both beginners and advanced traders. The OANDA Trade web platform is highly intuitive and a good fit for beginners. Experienced traders can benefit from the wide range of tools and research available. OANDA Global Markets has a professional account type available that allows for a higher level of leverage.

    OANDA Pros and Cons

    Pros Cons
    • Accepts US clients.
    • $0 minimum deposit.
    • Overseen by multiple top-tier regulators.
    • Strong research and educational materials.
    • Broad range of trading platforms and tools.
    • Reliable customer service.
    • No CFDs on shares.
    • Bank transfer withdrawal fees.
    • OANDA Trade web lacks 1-click trading and alerts.

    OANDA Main Features

    ☑️ RegulationsFSC Belize (Belize), MFSA Malta (Malta), CFTC US (United States), ASIC (Australia), IIROC Canada (Canada), FCA UK (United Kingdom), FSA Japan (Japan), MAS Singapore (Singapore)
    🗺 Supported Languages
    English, Spanish, Chinese, German
    💰 ProductsCurrencies, Stocks, Crypto, Indices, Commodities
    💵 Min Deposit$0
    💹 Max Leverage1:200 (FSC Belize), 1:30 (MFSA Malta), 1:50 (CFTC US), 1:30 (ASIC), 1:45 (IIROC Canada), 1:30 (FCA UK), 1:25 (FSA Japan), 1:20 (MAS Singapore)
    🖥 Trading Desk TypeMarket Maker
    📊 Trading PlatformsMT5, Oanda fxTrade, MT4
    💳 Deposit OptionsWire Transfer, Skrill, Neteller, Credit Card, Debit Card
    💳 Withdrawal OptionsWire Transfer, Neteller, Skrill, Debit Card, Credit Card
    🤴 Demo AccountYes
    🗓 Foundation Year1996
    🌎 Headquarters CountryUnited States
    Risk DisclosureCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

    OANDA Full Review


    How Did We Test the Broker's Trustworthiness?
    Assessing a broker's trustworthiness with your funds is vital. To help you make the right decision, we carefully checked each broker's regulatory license and examined how well they protect traders. Moreover, we looked at the broker's stability by studying their business history, corporate structure, and industry experience. Finally, we thoroughly reviewed all of the broker's legal documentation, including terms, conditions, and fees, and evaluated their transparency based on our analysis. Our hands-on approach ensures that even novice traders have the knowledge they need to make smart decisions.
    trust chart

    OANDA is one of the largest and oldest brokers in the forex industry and is overseen by 8 regulators across the globe. Clients of OANDA Global Markets Ltd benefit from segregated funds and leverage of up to 1:200. We found OANDA to be highly transparent in how it is regulated, client fees, and the company’s background.

    OANDA FSC Certification

    This section will cover how the different entities of OANDA are regulated and how this impacts you as a trader. We rate regulators on a scale of 1 to 3, with 1 reflecting the highest level of trust.

    Why is it important to know where your broker subsidiary (entity) is regulated?

    Different regulators provide different levels of protection. For example, OANDA clients in the United Kingdom benefit from the oversight of the Financial Conduct Authority (FCA). The FCA requires that clients have negative balance protection, which means they cannot lose more than their deposit.

    In addition, when trading with a broker authorized by the FCA, client funds are also protected by the Financial Services Compensation Scheme (FSCS). The FSCS protects investments of up to £85,000 if a firm becomes insolvent. By contrast, a trader working with a broker entity regulated offshore would not necessarily have these benefits.

    The table below breaks down the protections and benefits by entity, regulator, and region.

    Entity OANDA Europe Ltd. OANDA Corporation OANDA Australia Pty Ltd. OANDA (Canada) Corporation ULC OANDA Asia Pacific Pte Ltd. OANDA Japan Co., Ltd. OANDA Europe Markets Ltd. OANDA Global Markets Ltd.
    Country/Region UK US Australia Canada Singapore Japan Malta British Virgin Islands
    Segregated Funds Yes Yes Yes Yes Yes Yes Yes Yes
    Negative Balance Protection Yes No No No No No Yes No
    Account Insurance Yes Yes No Yes No No Yes No
    Standard Leverage 1:30 1:50 1:30 1:50 1:20 1:25 1:30 1:200

    Regulatory requirements are subject to change. We gathered the data listed above in May 2022.

    Stability and Transparency

    In our tests for the Trust category, we also cover factors relating to stability and transparency. Here, we focus on how long the broker has been in business, the size of the company, and how transparent they are in terms of information being readily available.

    OANDA was founded in 1996, making it one of the oldest forex brokers. According to its LinkedIn page, the company is headquartered in New York and has 201-500 employees.

    In our research, OANDA showed a good level of transparency in its regulatory status, with a listing of all regulators on the About Us page.

    Charges are clearly outlined on the Fees page. The Terms of Use document can be found in the website’s footer.

    OANDA’s history and senior management are covered in-depth on the About Us page. Overall, we rated OANDA as having a high level of transparency, better than average for the industry.


    How Did We Test the Broker's Fees and Commissions?
    Broker commissions and fees can be challenging to understand. To simplify this for you, we carefully examined all the broker's fee-related documentation and presented it in a clear, easy-to-understand format. Furthermore, we conducted hands-on tests on spreads and commissions for the most common instruments during both London and New York trading sessions. We then compared these real-time test results to the market benchmark we've established through our extensive experience evaluating the industry.
    fees chart

    OANDA provides spreads that range from average to competitive. Swap fees and account-related fees are standard for the industry. An inactivity fee and a fee for withdrawals via bank wire are two that traders should be aware of.

    Trading Fees

    We tested the spreads at OANDA across different asset classes using the OANDA Trade web platform at 8 AM GMT and 2 PM GMT on July 20th, 2022. We made our tests at two different times to allow greater perspective. 8 AM GMT is the London open when there is a great deal of liquidity in the forex market and tighter spreads in currency pairs. 2 PM GMT is during the New York trading session.

    Instrument Spread AM Spread PM
    EUR/USD 1.3 Pips 1.2 Pips
    GBP/JPY 2.6 Pips 2.2 Pips
    Gold 40 Pips 48 Pips
    Light Crude Oil 4 Pips 3 Pips
    Dow 30 2 Pips 1.5 Pips
    Dax 40 1.7 Pips 1.7 Pips

    Swap Fees

    Swap fees (the cost of holding a position overnight) were average at OANDA.

    In the table below, you can see the Swap Long (the cost/credit of holding a buy position overnight) and the Swap Short (the cost/credit of maintaining a sell position overnight) for one full-sized contract. A full-sized contract is 100,000 units of the base currency (the first currency quoted in the pair). We recorded the data on May 27th.

    Instrument Swap Long Swap Short
    EUR/USD Charge of $3.18 Credit of $1.11
    GBP/JPY Credit of $0.25 Charge of $2.44

    Non-Trading Fees

    OANDA Global Markets Ltd charges an inactivity fee of £10 per month for accounts that have been dormant for 12 months.

    Are Fees at OANDA Competitive?

    OANDA’s spreads range from average to competitive in some cases. Swap fees and non-trading fees are average for the industry. Overall, we rate OANDA’s fees as slightly better than average.

    Platforms and Tools

    How Did We Test the Broker's Trading Platforms?
    We understand that platforms play a crucial role in your trading experience. That's why we spent many hours testing the broker's web, desktop, and mobile trading platforms to gain a real understanding of their usability, functionality, and overall performance. From experimenting with different order types to testing execution speeds, charting, and other features, we thoroughly examined every aspect of these platforms based on our trading expertise, helping you make an informed choice.
    platforms chart

    OANDA shines in this category, with a range of proprietary and third-party platforms available. Clients can choose between the OANDA Trade web platform, the OANDA Trade desktop platform, MetaTrader 4 and the OANDA mobile app. The selection is better than average for the industry.

    Clients can choose between two desktop platforms (OANDA Trade Desktop and MetaTrader 4), the web-based OANDA Trade Web, and the OANDA mobile app for Android and iOS.

    OANDA Trade Web Platform

    OANDA Trade Web Platform

    The OANDA Trade web-based platform is well designed and easy to navigate. It is also customizable, allowing you to change the layout to suit your preference. Multiple chart layouts are available, and traders can view up to 8 charts at once.


    OANDA Trade web platform charts

    Charting is provided by TradingView, which features over 100 indicators, over 50 drawing tools, 9 time frames, and 11 chart types. Users can also trade directly from the chart.


    Order entry panel in the OANDA Trade web platform

    The range of order types on the OANDA Trade web platform is impressive. Standard order types such as market, limit, and stop-loss are available. It is possible to set time in force conditions; you can set your limit of stop-loss order to expire after a set time, for example, 2 days or 1 week.

    Alerts and 1-click trading are not available on the OANDA Trade web platform, but they are available on the OANDA mobile app. Overall, we rate this web platform as better than average for the industry, with a robust range of features and solid charting.

    OANDA Trade Desktop Platform

    OANDA Trade Desktop Platform

    OANDA’s desktop platform has the same strong range of order types as the web platform. Charting has 24 indicators, 9 drawing tools, 9 time frames, and 10 chart types. One of the most useful advantages of the charts is that you can adjust the candlesticks to bid, ask, and mid. This adjustment is not possible on the mobile application. 1-click trading and trading from the chart are available. Clients have the flexibility of trading sizes of just 1 unit.

    The platform includes analytical tools designed to identify trading strengths and weaknesses using behavior patterns. The software uses the past six months of trading statistics and is available on live accounts only.

    We rate the OANDA Trade desktop platform as powerful and feature-rich. However, the look and feel are a bit dated, and it is not as intuitive as the OANDA Trade web platform. The desktop platform is available in English, Spanish, Portuguese, French, Italian, German, Japanese, Chinese, and Russian.

    MetaTrader 4 Desktop

    MetaTrader 4 Desktop Platform

    OANDA offers MetaTrader 4 for desktop, which includes advanced functions such as automated trading.

    MetaTrader 4 is available in 39 languages, from Arabic to Vietnamese. The platform provides popular features such as:

    • Alerts. This feature allows traders to be updated when an instrument reaches a specific price level. Alerts can be delivered via audio, email, or push notification to a mobile device.
    • Watchlists. Traders can set up a list of their favorite instruments and follow live quotes in a Market Watch panel.
    • 1-click trading. This feature allows traders to execute orders with a single click and no secondary confirmation. Being able to place a trade with a single click saves time and is especially useful for short-term traders.
    • Trading from the chart. MT4 also allows users the convenience of trading directly from the chart.

    MetaTrader also delivers when it comes to the range of available order types. The platform offers the following order types:

    • Market Order. This is an order to buy or sell an instrument at the current best available price.
    • Limit Order. This is an order to buy or sell an instrument at a specified price or better.
    • Stop Loss Order. This is an order to buy or sell an instrument that is triggered when the price reaches a specified level.
    • Trailing-Stop Order. This is a stop-loss order that can be set at a defined percentage or dollar amount away from an instrument’s current market price. It is used to secure profits when you are in a winning trade, while not having to exit the position.

    Charting features are robust. MetaTrader 4 offers:

    • 30 technical indicators. These include classic trend indicators, volume indicators, and oscillators.
    • 23 analytical objects. These include lines, channels, Gann, and Fibonacci tools.
    • 9 time frames Each instrument can be displayed in multiple time frames, from one minute to one month.
    • 3 chart types. Traders can choose between Bar Charts, Japanese Candlestick Charts, and Line Charts.

    MetaTrader is also popular due to its automated trading features. MetaTrader 4 allows users to develop, test, and apply Expert Advisors (EAs). EAs are programs that monitor and trade markets using algorithms. They find opportunities according to set parameters and then either create a notification or automatically open a trade.

    The MetaTrader 4 desktop platform is one of the most feature-rich and popular trading platforms globally. It does not have the most beautiful interface, and it does require some time and effort to learn, but that is typical of advanced platforms.

    OANDA Mobile App

    OANDA Mobile App

    OANDA’s mobile app has an intuitive and user-friendly interface. The same range of standard and advanced order types seen on the web and desktop platforms are available on the app. The layout is customizable, so you can see your favorite instruments and adjust the size of charts to suit your preference.

    The charting within the app is solid and has the following features:

    • 16 time frames, ranging from 5 seconds to one month.
    • 8 chart types, including Japanese candlesticks, Heikin Ashi, and OHLC (open-high-low-close).
    • 16 overlays, from Bollinger Bands to exponential moving averages.
    • 17 indicators, including MACD (moving average convergence/divergence) and RSI (relative strength index).
    • 13 drawing tools, from pivot points to Fibonacci retracements.

    Unlike the web interface, 1-click trading and alerts are available via the app. Real-time news from Dow Jones and an economic calendar are also built-in. Two-factor authentication (2FA) is available to add an extra level of security when you sign in to OANDA’s trading platforms from either your computer or mobile device. If you need to top up your account on the go, it is possible to add funds via mobile.

    The app is available in English, German, Japanese and Chinese.

    Order Execution

    OANDA acts as principal and not as an agent when executing client trades and acts as the sole execution venue. OANDA group companies look to the execution venues available to them for the pricing, hedging, and execution of orders.

    Tradable Instruments

    How Did We Test the Broker's Tradable Instruments?
    For this section, we examined the broker's market offering, assessing the variety and depth of instruments and asset classes available for trading. Through our proprietary database, we then compared the results with other brokers. This comprehensive analysis allows you to determine if the broker offers the specific instruments and trading options you're looking for.
    tradable_instruments chart

    OANDA offers a strong range of forex, index, commodity, and bond CFDs. CFDs on cryptocurrencies and CFDs on shares are available in some regions. Overall, we rate the range of tradable instruments at OANDA as better than average

    Tradable Instruments at OANDA

    What are CFDs?

    CFDs (Contract for Differences) are financial derivative products that allow traders to speculate in various markets without owning the underlying assets. Tradable instruments at OANDA Global Markets Ltd include the following assets:

    • 45 CFDs on Currency Pairs. A currency pair combines two different currencies, with the value of one currency quoted against the other. For example, EUR/USD, which reflects the value of the euro measured in dollars.
    • 19 Index CFDs. An index is a basket of trading instruments used to gauge a market sector, stocks within an exchange, or a country’s economy.
    • 10 Commodity CFDs. Commodities are raw products, such as gold, oil, and metals.
    • 228 CFDs on stocks. These include 50 CFDs on Spanish stocks, 100 CFDs on German stocks, 28 CFDs on Dutch stocks, and 50 CFDs on French stocks. A stock is a security that represents partial ownership of a corporation. Keep in mind that when trading stock CFDs you are speculating on the price of a stock without actually taking ownership of the underlying company.

    In the tables below, you can see a selection highlighting the variety of instruments available at OANDA:

    CFDs on Forex Major Pairs CFDs on Forex Minor Pairs
    CFDs on Energies CFDs on Metals
    Natural Gas | Brent Crude Oil | WTI Crude Oil Silver | Copper | Gold
    CFDs on Indices CFDs on Stocks
    Japan 225 | Germany 40 | India 50 Adidas | Hermes | Telefonica

    Customer Support

    How Did We Test the Broker's Customer Support?
    Traders often underestimate the importance of customer support, yet it proves to be a critical aspect during times of crisis. We put the broker's customer support to the test ourselves using all possible channels, such as chat, phone, and others. Our evaluation focused on the accessibility of live agents, as well as the helpfulness and professionalism of their responses. This way, we provide you with comprehensive insights into whether a broker can deliver full support when you need it most.
    customer_support chart

    OANDA offers customer support 24/5 via live chat and phone. Support via email is 24/7. We received fast and helpful responses in our tests. We rate support at OANDA as better than average for the industry.

    OANDA Live Chat Support

    We tested customer support with a wide variety of queries, ranging from inactivity fees to the order types available. Chat support responded within seconds, and emails were typically responded to within one business day. Via phone, we also received good support from industry-savvy agents.

    If you do not have a demo or live account, customer support via chat is harder to access, and it is necessary to navigate several questions from a chatbot. However, once you have an account and select chat from within the client portal, it typically takes only a short time to receive a response.

    Customer Service Languages
    Chinese | Spanish | English | German

    Deposits & Withdrawals

    How Did We Test the Broker's Deposit and Withdrawal Process?
    The deposit or withdrawal process can be tricky since you may encounter hidden fees or longer than expected processing time. To assess the broker's offerings, we examined their deposit and withdrawal options and conditions. Using our proprietary database, we then compared these results with those of other brokers.
    deposit chart

    Deposits and withdrawals at OANDA Global Markets Ltd can be made via bank transfer, credit card, and debit card. In some regions, clients can use alternative methods such as digital wallets. Processing times are relatively fast for the industry. While deposits are free, there is a fee for withdrawals via bank transfer.

    OANDA Deposits and Withdrawals

    The tables below break down the fees and processing times for each deposit and withdrawal method.


    Deposit Method Fees Processing Time
    Credit and debit card 0 Immediate
    Bank wire and bank transfer 0 One to three business days for domestic wire transfers. Up to five business days for international wire transfers.
    Skrill 0 Up to 1 business day
    Neteller 0 Up to 1 business day

    Note: While OANDA does not charge deposit fees, you may be charged by your payment provider or bank when depositing funds into your account.


    Withdrawal Method Fees Processing Time
    Credit and debit card 0 1 to 6 business days.
    Bank wire transfer 20 1 to 5 business days
    Skrill 0 Up to 1 business day
    Neteller 0 Up to 1 business day

    OANDA returns all funds to the same source. If, for instance, you deposited using a credit card, you would need to withdraw funds back to that same card.

    Account Types and Terms

    How Did We Test the Broker's Account Types and Terms?
    When it comes to achieving your trading goals, choosing the proper account is essential. We initiated our evaluation by personally opening an account with the broker, which allowed us to gain firsthand experience of the process and accurately asses, how fast and easy it is. In addition, we carried out an in-depth analysis of the account types and features offered by the broker, including spreads, maximum leverage, minimum deposits, and more. For a comprehensive comparison, we turned to our proprietary database and examined how this broker's account offerings and processes stacked up against other brokers.
    account chart

    The account opening process at OANDA is fully digital and can be completed within a short time via the company website. OANDA Global Markets Ltd offers demo, standard and Islamic accounts.

    Account Application

    To open an individual account at OANDA Global Markets Ltd , prospective clients must provide their personal details, citizenship, home address, employment status. Finally, clients must verify their identity (passport, national ID card, or driving license) and address (bank statements, utility bill, or government-issued photo ID). Available base currencies are EUR, HKD, SGD, AUD, CHF, and USD.

    Demo Accounts

    OANDA offers demo accounts that clients can use across all of its platforms. Demo accounts are especially important for beginners as they allow them to practice their strategies and get comfortable with the trading platform without risking any real money.

    The demo account features live quotes and simulates live market conditions in assets such as forex and CFDs on commodities, indices, and stocks. Once users have gotten up to speed on a demo account, they can easily switch to a live account.

    Islamic Accounts

    OANDA offers a swap-free Islamic account that adheres to the principles of Sharia law.


    One of the reasons traders are attracted to the forex markets is the high degree of available leverage. Leverage is the use of borrowed funds to increase the size of your trading positions beyond what would be possible using only the cash in your account.

    For example, OANDA Global Markets offers leverage of up to 1:200. This means you can control up to $200,000 in positions with a $1,000 account. Leverage is often described as a ‘double-edged sword’ as it can hurt you as much as it helps you. Traders must remember that it can amplify both their profits and their losses.

    *OANDA does not accept new European clients at the moment.

    Supported Countries

    OANDA takes clients from the majority of countries globally. However, clients are not accepted from China, India, North Korea, and Iran.


    How Did We Test the Broker's Research Tools?
    Research options offered by brokers may not be seen as the most important feature for some traders, but they can provide a competitive advantage. To assess the broker's research offerings, we personally explored and tested both proprietary and third-party tools and content, such as Fundamental and Technical Analysis, Market News, educational videos, and webinars. After evaluating the availability and quality of the overall research offering, we compared the results with our benchmark to provide a comprehensive analysis of the broker's research capabilities.
    research chart

    OANDA shines in the area of research, with industry-leading analysis available from the MarketPulse website and news from Dow Jones. A strong flow of frequently updated content is available in written, video, and podcast formats. OANDA also provides analysis from third-party provider Autochartist.

    OANDA Research

    OANDA’s news and research portal,, offers insightful analysis covering both fundamental and technical analysis across forex, indices, commodities, and cryptocurrencies. The Week Ahead articles keep traders abreast of upcoming economic events and what to expect. Other articles and videos are more technical, and traders can get ideas from chart patterns and support and resistance levels.

    Dow Jones News Wire

    OANDA clients can also stay informed with the Dow Jones FX Select news feed. This provides real-time news, data, and insights from a global team of business news reporters and editors. The feed can be accessed from OANDA’s web, desktop, and mobile platforms and is available in a variety of languages.


    How Did We Test the Broker's Education Offering?
    Gaining knowledge about trading in the financial markets can make the difference between success and failure. To assess the broker's educational offerings, we personally tested and evaluated the quality of the content provided, considering its relevance for both novice and experienced traders. We explored the range of materials available, such as articles, videos, webinars, and courses. After evaluating the content's volume, update frequency, and overall quality, we compared the results with our benchmark to provide a well-rounded analysis of the broker's education offerings.
    education chart

    OANDA has an impressive range of educational offerings, from platform tutorials to live webinars with industry experts. The volume and quality of the materials are better than average for the industry.

    OANDA Education

    OANDA’s educational resources include the basics, such as a demo account and platform tutorials. They also go further to offer a wide variety of educational articles, videos, and live webinars.

    The education section is broken down into 4 categories.

    • Getting started. This section features content covering order types, charts, and trading terminology.
    • Tools and strategies. Fundamental and technical analysis concepts are explained in this section.
    • Capital Management. Here the focus is on how to protect and manage your funds using margin, leverage, and stop-loss orders.
    • Live and recorded webinars. These include topics such as risk management, Fibonacci, and platform tutorials.

    While the quality of the content is good, the organization of materials could be improved, for example, by adding progress tracking.

    The Bottom Line

    OANDA is a pioneer in the world of forex and CFD trading, with over 25 years of experience.

    Many regional entities of OANDA are overseen by top-tier regulators, making it one of the safer brokers. Fees are not rock bottom but, on balance, better than average for the industry. OANDA outshines most rivals in the area of platforms, with choices that can suit everyone from beginners to highly sophisticated traders. Research and educational materials are also better than average and can cater to various experience levels. Reliable customer support rounds out a good overall offering from this broker.


    OANDA Global Markets Ltd is based in the British Virgin Islands. The global headquarters of OANDA is in New York.
    OANDA is overseen by multiple top-tier regulators, making it a relatively safe broker.
    OANDA makes money from the bid/offer spread, swap fees, and miscellaneous account fees.
    Funds can be deposited via bank wire, credit card, Skrill and Neteller.
    The minimum deposit at Oanda is $0.
    Clients can withdraw funds via bank transfer, credit card, Skrill and Neteller.
    Withdrawals via bank wire take1 to 5 business days.
    The maximum leverage at OANDA Global Markets Ltd is 1:200.
    An account can be opened via the website (
    OANDA provides the OANDA Trade web platform, MetaTrader 4 and the OANDA Trade desktop platform.
    Withdrawals via credit card are free, and via bank wire, there is a fee of $20.
    With a demo account and good educational resources, we judge that OANDA is a suitable broker for beginners.
    Yes, Oanda provides demo accounts for each of its platforms.

    See OANDA Full Information

    Headquarters CountryUnited States
    Foundation Year1996
    RegulationsFSC Belize (Belize), MFSA Malta (Malta), CFTC US (United States), ASIC (Australia), IIROC Canada (Canada), FCA UK (United Kingdom), FSA Japan (Japan), MAS Singapore (Singapore)
    Publicly TradedNo
    Number Of Employees200+
    Trading Desk TypeMarket Maker
    Trading PlatformsMT5, Oanda fxTrade, MT4
    Restricted Countries
    Bahamas, Barbados, Burkina Faso, Congo, Cuba, Ghana, Jamaica, Jordan, North Korea, Morocco, Nicaragua, Nigeria, Iran, Iraq, Democratic Republic of the Congo, Afghanistan, Cayman Islands, Senegal, Albania, Turkey, Trinidad and Tobago, Somalia, Yemen, Botswana, Uganda, Syria, Cambodia, Vanuatu, Mauritius, Libya, Myanmar, Pakistan, Haiti, South Sudan, Sudan, Zimbabwe
    Supported Languages
    English, Spanish, Chinese, German
    Min Deposit$0
    Max Leverage1:200 (FSC Belize), 1:30 (MFSA Malta), 1:50 (CFTC US), 1:30 (ASIC), 1:45 (IIROC Canada), 1:30 (FCA UK), 1:25 (FSA Japan), 1:20 (MAS Singapore)
    Deposit OptionsWire Transfer, Skrill, Neteller, Credit Card, Debit Card
    Withdrawal OptionsWire Transfer, Neteller, Skrill, Debit Card, Credit Card
    Bitcoin Cash, Bitcoin, Litecoin, Ethereum
    Currencies, Stocks, Crypto, Indices, Commodities
    Demo AccountYes
    OCO OrdersNo
    Offers HedgingYes
    Automated TradingYes
    API TradingYes
    Guaranteed Stop LossYes
    Guaranteed Limit OrdersYes
    Guaranteed Fills / LiquidityNo
    Economic calendarYes
    Trading From ChartYes
    One-Click TradingYes
    Expert AdvisorNo
    Social TradingYes
    Trading SignalsNo
    24 Hours SupportYes
    Support During WeekendsNo
    Live ChatYes
    Daily Market CommentaryYes
    News (Top-Tier Sources)Yes
    Deposit FeeNo
    Withdrawal FeeNo
    Inactivity FeeNo

    About the Author

    Dan BlystoneBroker Analyst

    Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.

    Why you can trust FX Empire

    At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.

    Why you can trust FX Empire

    FXEmpire was founded in 2011, making us one of the first forex broker review sites. You can trust FXEmpire because of our thorough and unbiased review process. With over a decade of experience, we have a team of industry experts who conduct rigorous tests to ensure our reviews are accurate and unbiased. Our reviews are designed to bring clarity and confidence to the process of choosing a broker, and are based on objective criteria and measurable data. Our editorial team is composed of trading industry professionals and seasoned financial journalists, who ensure that our reviews are accurate and unbiased. Additionally, our review system is based on 9 core categories and over 250 distinct variables, which ensures that all aspects of a broker are considered before giving a final rating. So, you can trust FXEmpire to provide you with honest and informative reviews that will help you make an informed decision on which broker will best enable you to reach your financial goals.