OANDA Reviews Read Customer Service Reviews of www oanda.com

In the desktop platform’s home, you’ll be able to find everything you need just like in the web version. They require opening an additional tab external to the platform to view the Dow Jones integrated news. During our Oanda’s investigation process, we found amazing user reviews and overall a very good feeling of their presence.

When there have been no open transactions on your account for at least a year, you will be subject to a monthly fee equal to 10 units of the currency in which your account is denominated. The broker only offers stocks as contracts for difference, where you can speculate on the price movement of stocks without owning the underlying asset. However, when you deposit, you can only deposit up to 50% of your net worth.

All BrokerNotes content is researched, fact-checked, and edited by the research team. OANDA supports a variety of funding methods, including bank wires, debit cards, and several eWallets like PayPal, Skrill, and Neteller, accommodating a wide range of payment preferences for its users. Filippo Ucchino is the founder and CEO of the brand InvestinGoal and the owning company 2FC Financial Srl.

73.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. According to most research, the differences between them in terms of oanda review quality are more or less negligible.

There are many platforms nowadays that offer forex trading, but we’ll be focusing on two that are often compared to OANDA. The phone line is great for US-based clients as it is toll-free and possibly the fastest way to resolve issues you may have with trading tools. After all, the platform can be complex, and instead of wasting time learning the ropes, you can learn everything beforehand and just dive into forex the moment you have your trading account set up. Installing the app on a tablet gives a full screen overview of single charts and multi-chart views. Naturally, one of the first questions that comes to mind when encountering new forex brokers is whether they’re regulated.

OANDA Web Platform

• Additionally, they may offer negative balance protection, ensuring that clients do not lose more than their initial deposit.
• The broker’s stated goal is to differentiate itself with superior trade execution and transparency, and all data points to that being the case.
• When you type in the number of units you want to trade, the trade-value, margin-required, and margin-available fields are all automatically updated.
• Clients can also use the popular MetaTrader 4 (MT4) platform for trading.
• Clients in Asia who are willing to make significant deposits may be eligible for a Premium or a Premium Plus account.
• As an additional measure, the broker ensures that all of your funds are held in segregated accounts at top-tier institutions.

The trade screen allows you to enter stop losses or take profits, or set up a trailing stop or lower bound. This is relatively surprising since they are a vastly experienced international broker. The languages available include English, Spanish, French, Russian, Chinese, Japanese, and more.

• Clients can take full advantage of OANDA’s research offerings, including MarketPulse and Autochartist technical analysis directly from the platform, though the products will open up in a web page.
• ➡️ Once Namibians have completed the online application, it will be sent to OANDA’s onboarding team where it will be reviewed and subsequently approved.
• Traders must maintain a USD 20,000 minimum balance and trade more than USD 10 million notional or equivalent per month.
• In this Oanda review, you will find details on every key area of the broker including their spreads, minimum deposit requirements, and more to help you gain a clear picture of what to expect before trading.

Mobile trading app

Others disagree, but to me Oanda’s web-based trading platform doesn’t quite live up to their mobile platform. FxTrade sets a really high standard, so that’s part of the problem, but for me the web platform is a little too busy, and not quite as easy to navigate. Jeff Anberg is a Senior Editor at BrokerNotes.co and ForexBrokers.com.

If they added a few more currency pairs, improved their customer service a bit, and streamlined the sign-up and withdrawal processes, they’d be close to the perfect forex broker. After trading with Oanda and rating them according to the criteria below, I give them an enthusiastic 9/10. Their incredible mobile trading platform makes them the perfect choice for traders who want to trade on the go, and their educational resources and trading tools are a tremendous asset for any new traders. A current sign-up bonus makes this an ideal time to start trading with a world-class forex broker.

Oanda calculates that, on average, trades are made within 0.012 seconds, although I noticed that they haven’t updated that figure since 2019. I personally have been impressed with their speed and have never experienced any significant slippage. Oanda was and is a true innovator when it comes to trading platforms. They launched one of the first web-based trading platforms more than 20 years ago, and their mobile trading app, also known as fxTrade, is already approaching its 10th birthday.

Do you prefer a broker with no minimum deposit but has an inactivity fee? If you’re confident you’ll be an active trader anyway, there’s no need to worry about the inactivity fee. OANDA and FOREX.com are similar in that they are both forex/CFD brokers. This is for active traders who are trading a minimum of $10 million in volume. OANDA’s trading platform has a mobile app with an easy-to-use layout.

It would be beneficial to have a base currency which matches that of your deposit and withdrawal so that you can avoid any currency conversion fee. You should note that as per regulation, the Oanda spread betting account is available only to UK and Ireland traders. Another account you can choose is the Oanda Core account, though this one is only available if you register with the Australian Oanda entity. Again here you can benefit from the no minimum deposit policy set in place by Oanda. A demo account is the very best place you can start when trying to build knowledge or experience of a broker or the industry. Firstly, Oanda Europe and Oanda Australia provide negative balance protection to traders there.

What is the minimum deposit required to open an account with OANDA?

The arrival of your money will often take at least one business day, but more frequently may take several business days depending on the method that you use when withdrawing funds. ➡️ You will find a link that will redirect you to the application, or you can scroll down to find the affiliate application on the page. This displays the dates and timings of several worldwide events, as well as their expected market effect.

OANDA offers features that analyze trading history and trading activity. OANDA also offers trading on soft commodities like coffee, cocoa, sugar, and cotton through CFDs. Judging from Oanda’s current standing and being a company founded in 1996, they clearly have a defined path where they want to stay as a leading FX broker instead of taking over other markets. Oanda is a great FX broker and it should stick to doing what they do great without trying to provide too many additional resources which don’t live up to its expectations.

Is my money safe with OANDA?

One of the best points about an Oanda demo account is that it never expires, so it is unlimited and you can continue to use it at any time. The Oanda demo account is great in that it can be opened quickly with just basic information such as your name, email, country, and phone number. You can then choose a username and password to login and you are all set. The only downside here is that there are quite few deposit or withdrawal methods open to you from the broker.

MetaTrader 4 & 5

Overall, I rated OANDA as having a strong level of transparency, better than average for the industry. 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. In this review of OANDA, we focused on the United States entity (OANDA Corporation), found at oanda.com.

It’s available for both Android and iOS devices, and it comes with all the features of the web platform. OANDA is a forex broker and a trading platform that has been around since 1997. In that time, it managed to establish itself as one of the most popular brokers in the industry, with over 1,000 institutional clients and 110,000 retail clients from 196 countries. As you probably gathered from my trading platform review, I love the resources Oanda makes available, and how well they package them all, particularly within the mobile app.