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OANDA US Review 2022

Updated:
4.1
Trust
4.6
Fees
4.1
Platforms and Tools
4.9
Customer Support
4.3
Tradable Instruments
1.2
Account Types and Terms
4.5
Deposit and Withdrawal
3.9
Research
5.0
Education
4.4
While we adhere to strict editorial integrity, this page may refer to our partners' products. Here's how we make money.Learn how we make money and our review methodology.

Please note: In this review of OANDA, we focused on the United States entity (OANDA Corporation), found at oanda.com. OANDA Corporation is a registered Futures Commission Merchant and Retail Foreign Exchange Dealer with the Commodity Futures Trading Commission (CFTC) and a member of the National Futures Association (NFA). We conducted our tests using the OANDA Trade web platform.

The Big Picture

Founded in 1996, OANDA is an award-winning multinational broker. At the time of this writing, United States clients can only trade forex and have access to 68 currency pairs. According to customer support, spot cryptocurrencies will soon be available to US clients. CFDs are not available in the United States.

OANDA clients in the US have access to multiple platforms: OANDA Trade web, OANDA Trade desktop, MetaTrader 4, TradingView, and the OANDA mobile app. The broker has eight global corporate entities, and multiple top-tier regional regulators oversee operations. American soccer fans may already be familiar with the brand, as OANDA is a sponsor of the New York Red Bulls.

OANDA Key Takeaways in 2022

  • We evaluated OANDA across nine categories (Trust/Stability, Fees, Tradable Instruments, Account Types, Deposit/Withdrawal, Research, Customer Support, Education, and Platform/Tools).
  • OANDA excelled in the area of platforms and research.
  • We found room for improvement in the range of tradable instruments for US clients.
  • Beginners can benefit from demo accounts and reliable customer support.
  • Advanced traders can take advantage of lower trading costs and a dedicated relationship manager via the Advanced Trader loyalty program.

What Sets OANDA Apart from Other Brokers?

OANDA offers a broader range of trading platforms and tools than most brokers. The available research materials are also at an industry-leading level. A forex industry pioneer, it is one of the most widely regulated brokers globally. OANDA is also one of a small number of forex brokers offering 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 intuitive and a good fit for beginners. Experienced traders in the US can elect to sign up for the Advanced Trader account, allowing them to benefit from cash rebates, free wire transfers, and access to professional third-party platforms.

OANDA Pros and Cons

Pros Cons
  • Regulated by top-tier CFTC and NFA in the US.
  • $0 minimum deposit.
  • Choice of accounts to accommodate different trader profiles.
  • Impressive range of trading platforms.
  • Top-notch third-party tools.
  • High-quality research and educational materials.
  • API access *
  • Limited tradable Instruments (forex only, spot crypto set to launch soon).
  • Limited Deposit/Withdrawal Options.
  • US clients do not have negative balance protection

*The REST v20 API is a free service offered to clients with a computer programming background to connect their software to OANDA trading servers and conduct trading activities instead of using OANDA’s trading platforms.

 

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About the Author

Dan Blystone
Starting his career in finance on the floor of the Chicago Mercantile Exchange, Dan later gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. Dan also traded at a couple of different prop trading firms in Chicago.
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How Do We Rate?

When trading forex and CFDs, it is crucial to know a broker's strengths and weaknesses. That is why FX Empire developed its proprietary rating system. We put the knowledge and expertise of our reviewers to work to bring you the most suitable brokers. A total of 200 variables have been analyzed to help you choose your broker wisely. This chart describes all the categories we evaluated and rated.
How Do We Rate Chart
Visit our methodology page to learn more about our review and rating process.
OANDA US Main Features
☑️
Regulations
NFA (United States), CFTC (United States)
🗺
Supported Languages
English, Spanish, Chinese
💰
Products (CFD)
Currencies
💹
Max Leverage
1:50 (NFA), 1:50 (CFTC)
📊
Trading platforms
MT4, Oanda fxTrade, tradingview
💳
Deposit Options
Wire Transfer, Debit Card, ACH
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unknownOANDA US accepts clients from your country:
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OANDA US Full Review

Trust

4.6
How Do We Test A Broker's Trust?
When choosing a broker, trustworthiness is one of the most important things to keep in mind. Always check the broker's regulations, know how financially secure the firm is, and find out whether the broker is transparent and reliable. These factors, calculated into our score, will help you understand if your money is safe.

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OANDA is one of the largest and oldest brokers in the forex industry, and multiple regulators across the globe oversee the operations of its entities. OANDA Corporation is regulated by the top-tier Commodity Futures Trading Commission (CFTC) and National Futures Association (NFA). We found OANDA to be highly transparent in regulatory status, client fees, and the company’s background.

OANDA Corporation on the National Futures Association (NFA) Register
OANDA Corporation on the National Futures Association (NFA) Register

OANDA Corporation is a registered Futures Commission Merchant and Retail Foreign Exchange Dealer with the US Commodity Futures Trading Commission (CFTC) and a member of the National Futures Association (NFA), reference number 0325821. We rate CFTC and NFA as Tier 1 regulators.

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

Different regulators provide different levels of protection. OANDA clients in the United States do not have negative balance protection and their funds are not segregated. OANDA Corporation holds client funds in the same bank account as operating funds because US regulations do not permit forex accounts to have segregated account status.

In the unlikely event that OANDA Corporation becomes insolvent or files for protection under bankruptcy laws, clients may have only an unsecured claim against their deposited funds. OANDA Corporation would pay all debts to creditors before any unsecured claims in the event of liquidation.

Entity OANDA Corporation
Country/Region US
Regulation CFTC, NFA
Segregated Funds No
Negative Balance Protection No
Account Insurance No
Maximum Leverage 1:50

Regulatory requirements are subject to change. We gathered the data listed above in October 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 company’s size, and whether important information about the company is readily available.

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

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

The website breaks down costs on the Fees page. Traders can find the Terms of Use on the Legal Documents page.

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.

Fees

4.1
How Do We Test A Broker's Fees?
Broker fees can be difficult to understand. We test the broker's platforms and examine commissions, spreads, and overnight fees to ensure that you can determine if trading with this broker is worth your time and money.

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OANDA provides spreads that range from average to competitive. Two pricing options are available: spread-only and core pricing plus commission. Swap fees and account-related fees are standard for the industry. Two significant expenses are an inactivity fee for dormant accounts and a fee for bank wire withdrawals.

Trading Fees

We tested the spreads at OANDA Corporation across different currency pairs using the OANDA Trade Web Platform platform. We performed the tests at 8 AM GMT and 4 PM GMT on 4 October 2022. 8 AM GMT is the London open when there is high liquidity in the forex market and tighter spreads in currency pairs. 4 PM GMT is during the New York trading session.

Instrument Spread AM Spread PM
EUR/USD 1.2 Pips 1.5 Pips
GBP/USD 1.9 Pips 2.1 Pips
USD/CHF 1.7 Pips 2 Pips
USD/JPY 1.8 Pips 1.5 Pips
GBP/JPY 4.1 Pips 4.2 Pips

The figures above reflect spread-only pricing. Clients can choose the spread-only pricing or access lower spreads with commissions with a core pricing plus commission model. Traders can view the price sheet for the core pricing plus commission here.

Swap Fees

At OANDA Corporation, swap fees (the cost of holding a position overnight) were average.

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 4 October 2022.

Instrument Swap Long Swap Short
EUR/USD Charge of $10.79 Credit of $2.60
GBP/USD Charge of $7.35 Charge of $2.68

Non-Trading Fees

For US clients, OANDA charges an inactivity fee of $10 per month for accounts that have been dormant for 12 months.

Are Fees at OANDA Competitive?

With a standard account, we judged the fees at OANDA to be roughly average for the industry. Lower costs are available via the Advanced Trader account type, which requires a $10,000 minimum deposit. Tighter spreads are available via the core pricing plus commission model.

Platforms and Tools

4.9
How Do We Test A Broker's Platforms and Tools?
Platforms are where you trade, so they must be secure, fast, and accessible while offering you the tools you need to succeed. Each broker's desktop, web, and mobile platforms are evaluated according to the order types, speed of execution, ease of use, and other 'need to know' features.

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

OANDA Trade Web Platform

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. This feature lets traders view charts across numerous instruments and timeframes on one screen.

Charts

OANDA Trade Web Platform Charts
OANDA Trade Web Platform Charts

The platform features TradingView charts, which have over 100 indicators, over 50 drawing tools, 9 time frames, and 11 chart types. Users can also trade directly from the chart.

Orders

OANDA Trade Web Platform Order Entry Panel
OANDA Trade Web Platform Order Entry Panel

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 select ‘time in force’ conditions, meaning that you can set your limit or stop-loss order to expire after a set time. In addition, trailing stop-loss orders are available.

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

TradingView

TradingView Platform
TradingView Platform

The TradingView platform offers one-click trading, trading from the chart, watchlists, market news, and trading ideas. Traders can easily place trades and manage open positions and pending orders from the platform.

The market-leading TradingView charts feature 11 time frames, 11 chart types, and over 100 technical indicators. A wide range of drawing tools, from trend lines to Fibonacci retracements, are also available.

TradingView Order Entry Panel
TradingView Order Entry Panel

The range of available order types is above average. Market orders, limit orders, stop-loss orders, and trailing stop-loss orders are available. Traders also have the option to apply time in-force conditions such as Good-Til-Canceled (GTC).

TradingView Order Entry Panel
TradingView Order Entry Panel

Users can draw inspiration from the massive community active on TradingView with features such as the ideas stream. The TradingView platform has the rare combination of being powerful in its functionality and intuitive with a well-designed interface.

MetaTrader 4 Desktop

MetaTrader 4 Desktop Platform
MetaTrader 4 Desktop Platform

OANDA offers MetaTrader 4 and MetaTrader 5 for desktop, which includes advanced functions such as copy trading and automated trading.

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

  • This feature allows traders to be updated when an instrument reaches a specific price level. The platform can deliver alerts via audio, email, or push notification to a mobile device.
  • Traders can create a list of their favorite instruments and follow live quotes in a market watch panel.
  • One-Click Trading. This feature allows traders to execute orders with a single click and no secondary confirmation. This feature enables traders to operate faster 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. Traders use market orders to buy or sell an instrument at the best current price.
  • Limit Order. Traders use limit orders to buy or sell an instrument at a specified price or better.
  • Stop Loss Order. Traders use stop-loss orders to buy or sell an instrument when its price reaches a specified level.
  • Trailing Stop Order. Traders use trailing stop-loss orders as a stop-loss order at a defined percentage or dollar amount away from an instrument’s current market price. Trailing stop orders allows traders to secure profits when they 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. Traders can choose from nine time frames, from one minute to one month.
  • 3 Chart Types. Traders can use Bar Charts, Japanese Candlestick Charts, and Line Charts.

MetaTrader is also popular due to its copy trading and automated trading features.

  • Trading Signals. Signals in MetaTrader 4 allow users to copy other traders’ activity in real-time.
  • Automated Trading. MetaTrader 4 allows users to develop, test, and apply Expert Advisors (EAs). EAs are programs that monitor and trade markets using algorithms.

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

OANDA Trade Desktop Platform

OANDA Trade Desktop Platform
OANDA Trade Desktop Platform

OANDA’s desktop platform has the same broad 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 valuable 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. One-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. The desktop platform is available in English, Spanish, Portuguese, French, Italian, German, Japanese, Chinese, and Russian.

OANDA Mobile App

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 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 the 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, one-click trading and alerts are available via the app. Real-time news from Dow Jones and an economic calendar is 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 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

The US division of OANDA (OANDA Corporation) is a market maker broker. Market makers typically generate revenue through the bid/offer spread. Market makers attempt to match client orders to avoid trading directly in the market and increase their spread capture.

Tradable Instruments

1.2
How Do We Test A Broker's Tradable Instruments?
In this section, we check the broker’s market offering and how varied the instruments and asset classes are. It will allow you to check if they offer what you're looking for and what you can trade.

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OANDA Corporation (the US entity of OANDA) offers clients a range of forex pairs, but trading in CFDs is not available. CFD trading is not allowed in the United States due to Securities and Exchange Commission (SEC) restrictions on over-the-counter (OTC) instruments. OTC trading is done directly between two parties without going through a financial exchange.

Currently, OANDA Corporation only offers trading in forex. Client support agents informed us that spot cryptocurrency trading would soon be available. Spot cryptocurrency trading refers to directly buying or selling cryptocurrencies.

At the time of this writing, OANDA Corporation offers the following tradable instruments:

  • 68 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.

In the tables below, you can see a selection highlighting the variety of currency pairs available to US traders:

Forex Major Forex Minor Forex Exotic
EUR/USD | GBP/USD | USD/JPY EUR/NZD | GBP/CAD | GBP/JPY USD/HUF | TRY/JPY | GBP/ZAR

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Customer Support

4.2
How Do We Test A Broker's Customer Support?
Traders tend to underestimate customer support, but it might be a crucial feature in moments of crisis. In our rating, we check the contact methods available, how accessible a live agent is and how helpful the responses are. This information will allow you to know if a broker can provide full support when you need it.

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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 Support
OANDA Support

We tested customer support with various queries, ranging from available leverage to tradable instruments. Chat support responded within seconds, and emails were typically responded to the same day or within one business day.

Via phone, navigating a series of automated questions designed to segment callers was necessary, but ultimately we received good support from industry-savvy agents.

Available Chat Support Languages
English | Spanish | Mandarin

Deposits & Withdrawals

3.9
How Do We Test A Broker's Deposit and Withdrawal?
The deposit or withdrawal process can be a tricky one. You may discover that there are hidden fees, or that withdrawal times are longer than you anticipated. We check these factors and others so you know what to expect when trading with this broker.

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Clients can deposit funds at OANDA Corporation via bank wire transfer, automated clearing house (ACH), and debit card, while withdrawals are available through bank wire transfer and debit card. Processing times are relatively fast for the industry. Deposits are free, but there is a fee for withdrawals via bank transfer.

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

Deposits

Deposit Method Minimum Deposit Maximum Deposit Fees Processing Time
Debit Card None $20,000 USD per calendar month $0 Immediate
Automated Clearing House (ACH) None $50,000 USD per deposit. No limit on number of deposits. $0 Immediate for Instant ACH starting at 50% of the requested deposit amount for transfers equal to or less than $1000. Up to 6 business days for regular ACH processing.
Bank Wire Transfer None None $0 One to three business days for domestic wire transfers. Up to five business days for international wire transfers.

Note:

  • In the case of a deposit via debit card or bank wire transfer, your bank may charge you a service fee.
  • Funds arriving via ACH need to be returned to the same bank when performing a withdrawal. Your bank may charge you a service fee.

Withdrawals

Withdrawal Method Fees Processing Time
Debit Card $0 One to three business days
Bank Wire Transfer USD $20 for the first withdrawal processed within each calendar month, and USD $35 for each additional withdrawal processed within the same calendar month. One to five business days

Note:

  • For withdrawals via debit card, OANDA can process up to 100% of the original deposited amount back to a debit card. Traders can withdraw any trading profits or amount beyond this limit via another method.
  • For withdrawals via bank wire, your bank may charge additional fees and take additional time to complete your withdrawal beyond OANDA’s standard processing time.

We judged that OANDA’s withdrawal fees by bank wire are roughly average for the industry. Remember that these fees can be avoided by having the Advanced Trader account type.

Account Types and Terms

The account opening process at OANDA Corporation is fully digital and can be completed within a short time via the company website. OANDA Corporation offers two account types to cater to different trader profiles: the Standard Account and the Advanced Trader Account. Demo accounts are available across multiple platforms.

The table below breaks down the key features of each account type.

Feature Standard Account Advanced Trader loyalty program
70 FX pairs Yes Yes
Minimum account balance US$0 US$0
Dedicated relationship manager No Yes
Web and desktop platforms, MT4 and mobile apps Yes Yes
Unlimited free wire transfers No Yes
Core pricing + commissions Yes Yes
Spread-only pricing Yes Yes
API trading Yes Yes
24/5 support Yes Yes
Variable contract sizes (as low as 1 unit) Yes Yes
OANDA trading performance analysis dashboard Yes Yes
MT4 open order indicator Updates every 20 minutes Updates every 5 minutes
Priority service queues No Yes

The Advanced Trader program allows clients to earn cash rebates or commission markdowns when minimum volume and deposit requirements are met. A minimum deposit of $10,000 and a monthly trading volume of over $10 million are required to qualify for rebates, access to dedicated relationship managers, and free wire transfers.

Account Application

Application for an account with the US entity of OANDA (OANDA Corporation)
Application for an account with the US entity of OANDA (OANDA Corporation)

To open an individual account at the OANDA Corporation, prospective clients must answer the following questions.

Employment Details

  • Company name.
  • Job title.
  • Annual income.
  • Source of trading funds.
  • Personal net worth.
  • Liquid net worth.

Trading Experience

  • Level of experience trading commodities or futures, FX, and securities.
  • Whether you operate a commodity pool, a pooled investment vehicle, or act as an intermediary accepting funds from others, or if you will be trading on behalf of others.

Verification of Identity

  • Applicants must upload documents to verify their identity with a government-issued ID, (using a driver’s license or passport which includes name, date of birth, and expiration date.
  • Proof of address must be also provided (using a bank statement, phone bill, or utility bill).

Nine base currencies (the currency in which your account is denominated) are available.

Base Currencies
Australian Dollar (AUD) | Canadian Dollar (CAD) | Euro (EUR) | British Pound (GBP) | Hong Kong Dollar (HKD) | Japanese Yen (JPY) | Singapore Dollar (SGD) | Swiss Franc (CHF) | US Dollar (USD).

Demo Accounts

OANDA offers free demo accounts via the OANDA Trade web platform, the OANDA mobile app, and MetaTrader 4. Demo accounts are a boon for beginners, allowing 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 multiple forex pairs. Once users have gotten up to speed on a demo account, they can easily switch over to a live version.

Islamic Accounts

OANDA does not offer a swap-free Islamic account to US clients.

Leverage

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

For US clients, OANDA offers a maximum of 1:50 in leverage. 1:50 leverage means that with $1,000 of funds in an account, a trader can take on up to $50,000 worth of market positions.

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.

Supported Countries

The US entity of OANDA (OANDA Corporation) only accepts residents of the United States as clients.

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Research

5.0
How Do We Test A Broker's Research?
Research options provided by brokers may not be seen as the most important feature for some traders, but they can give you an edge over the competition. Staying on top of important market news announcements and being aware of big themes can be very helpful. The rating system provides a clear picture of how well your broker fulfills this service.

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OANDA hits the mark 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 provided in written, video, and podcast formats. OANDA also offers analysis from third-party provider Autochartist.

MarketPulse Website
MarketPulse Website

OANDA’s news and research portal, MarketPulse.com, 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.

OANDA Market News
OANDA Market News

News from Dow Jones is available from OANDA’s web, desktop, and mobile platforms. The global team of Dow Jones business news reporters and editors provides:

  • Real-time breaking news.
  • Expert trend analysis.
  • In-depth policy commentary.

Education

4.4
How Do We Test A Broker's Education?
Educating yourself on how to trade the financial markets can make the difference between success and failure. We check the educational content provided by the broker, its quality and suitability for beginners and advanced traders.

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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 Section
OANDA Education Section

OANDA’s educational resources include the basics, such as a demo account and platform tutorials. They also 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 protecting and managing 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.

OANDA Technical Analysis Lessons
OANDA Technical Analysis Lessons

The Bottom Line

OANDA is a forex industry pioneer with over 25 years of experience. The company’s US entity is one of a small number of brokers providing US residents access to the spot forex market. With a $0 minimum deposit, the barrier to entry is low, and the range of available platforms and tools is excellent.

Due to SEC restrictions, the range of tradable instruments is narrow, but the addition of spot cryptocurrency will broaden the appeal of OANDA’s service in the United States. While spreads for the Standard Account are about average for the industry, lower trading costs are available with the core pricing plus commissions option. Research and educational materials are better than average and can cater to various experience levels. Reliable customer support rounds out a robust overall offering from this broker.

FAQ

Where is OANDA based?
The global headquarters of OANDA is in New York city in the United States.

Is OANDA safe?
Two top-tier authorities regulate Oanda in the United States, and we judge this well-established forex broker as safe.


How does OANDA make money?
OANDA makes money from the bid/offer spread, commissions, swap fees, and miscellaneous account fees.


How do I deposit funds in an OANDA account?
Funds can be deposited via bank wire, automated clearing house (ACH), and debit card.


What is the minimum deposit for OANDA?
No minimum deposit or balance is required to open or maintain an OANDA account.


How do I withdraw money from OANDA?
Funds can be withdrawn via bank wire or debit card.


How long does it take to withdraw money from an account at OANDA?
Withdrawals via debit card take 1-3 business days, and withdrawals via bank wire take 1-5 business days.


How much is the maximum leverage at OANDA?
The maximum leverage for US clients is 1:50.


How can I open an account with OANDA?
You can open an account by visiting the OANDA website (oanda.com).

What platforms does OANDA offer?
OANDA offers the OANDA Trade web platform, MetaTrader 4, TradingView, and the OANDA mobile app.


What are the withdrawal fees at OANDA?
There are no fees for withdrawals via debit card. For withdrawals via bank wire, a $20 fee is charged for the first withdrawal processed within each calendar month, and $35 is charged for each additional withdrawal processed within the same calendar month.


Is OANDA good for beginners?
With a demo account and good educational resources, we judge that OANDA is a suitable broker for beginners.


Does OANDA offer a demo account?
Yes, OANDA offers free demo accounts via the OANDA Trade web platform, the OANDA mobile app, and MetaTrader 4.

broker

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See OANDA US Full Information
Broker General Information
Trading Features
Other Details
Headquarters Country
United States
Foundation Year
1996
Regulations
NFA (United States), CFTC (United States)
Publicly Traded
No
Number Of Employees
200
Trading platforms
MT4, Oanda fxTrade, tradingview
Supported Languages
English, Spanish, Chinese
Max Leverage
1:50 (NFA), 1:50 (CFTC)
Deposit Options
Wire Transfer, Debit Card, ACH
Withdrawal Options
Wire Transfer, Debit Card
Time to Withdrawal
2
Time to Open an Account
8
Products (CFD)
Currencies
Demo Account
Yes
Islamic Account
No
Segregated Account
No
Managed Account
No

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