OANDA US Review : Read Before You Trade

A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering. Despite the impressive record of regulatory oversight, the amount of protection for each account in the event of default is limited and may vary depending on where your account is held. For example, OANDA Europe Limited offers ESMA-mandated negative balance protection, while OANDA Asia Pacific Pte. U.S. clients are the exception given that OANDA Corporation does not offer their accounts any such protections. Keeping other parameters apart, it is highly important to choose a legit broker to have a secure trading journey.

Oanda’s mobile platform order placement panel is a one-stop-shop for trading as any user can directly change even the asset they’re wishing to trade straight from the panel. Oanda’s asset offering is mostly dedicated to currency pairs (68 so far). When it comes to stocks, ETFs or other asset classes Oanda is definitely lacking a lot when compared to its competitors. OANDA is also regulated by eight Tier-1 Regulators (high trust) and two Tier-3 (low trust) market regulators, which forces OANDA to comply with several global regulations. Customers can opt to make use of OANDA’s world-class copy-trading service to help them develop their investment portfolios by copying the trades of experienced experts.

What are Oanda’s Account Types?

I’ve found Oanda’s mobile charting to be the simplest and easiest of any broker I’ve tried.
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.
He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.
One of the reasons that traders are attracted to the forex markets is the high degree of available leverage.
OANDA provides ultra-competitive spreads on major instruments like EUR/USD, GBP/USD, and gold.

➡️ The broker is registered in Malta and subsequently regulated and authorized by the Malta Financial Services Authority (MFSA) under license number VLT1455. Moreover, the company also charges 4% for TRY, 2% for CZK, HUF, SAR, and THB, as well as 2% for ZAR pars. To stay up-to-date, you can check OANDA’s website for the latest admin fees. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.

MetaTrader is also popular due to its copy trading and automated trading features. 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. The OANDA Web platform also has built-in Order Book, Heatmap, and Position Ratios tools.

Products and Services Offered by OANDA

If you want to use the MarketPulse or Economic Analysis or Technical Analysis functions, you’ll be bounced out of the platform and over to your web browser. However, the Advanced Charting and News tabs keep you within the app. Oanda has several educational materials in the “Learn” section of its website, which includes trading guides, training videos, and articles. The training videos cover various trading topics and are grouped oanda review into beginner, intermediate, and advanced sections. With the guides covering different types of trading, the articles explain the basic concepts in trading that a beginner should know. There are a total of six languages supported for Oanda customer service.

My Key Takeaways after Testing TradingView

Minor annoyances include the fact that the images and videos use inconsistent platforms, and some information is out of date compared to current trading platform releases. Not all education is in a single place, and navigation can be challenging. The support website also has a good knowledge base and searchable archive that should answer most questions about the trading platforms and order types.

U.S. customers can also directly trade cryptocurrencies through OANDA’s partnership with Paxos. OANDA also offers clients “a powerful and more dynamic trading experience” by partnering with third-party providers MultiCharts, CQG FX, and TradingView. Furthermore, they offer VPS capability through third-party providers BeeksFX and Liquidity Connect. OANDA is not only a reputable broker but also a reliable forex broker and known for its transparent pricing and fair execution practices.

We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points. Overall, Oanda scored an impressive 9 out of 10, thanks in part to perfect scores in Regulation and Reputation, Safety, and Resources. I also love their trading platforms and their trade execution ranks them among the fastest forex brokers in the world.

MT4 includes advanced charting, studies, watchlists, and trade automation through “expert advisor” plugins that many traders appreciate. Because the MT4 platform is such a well-known industry standard, traders moving to OANDA from other brokers will be familiar with its functionality. On the downside, the look and feel of the application are a little dated, and some functions can be clunky. OANDA generates revenue via the spread that it then offers to the client, as is the norm in the brokerage industry. Commission charges are aggregated and posted to client accounts as cash adjustments.

For some account types, OANDA offers commission-based pricing, where traders pay a lower spread but incur a commission per trade. The OANDA Mobile App is highly intuitive and responsive, designed for both professional and retail traders. It offers customizable order tickets, charting layouts, and account details, with one-click trading and access to a broad range of CFD instruments such as forex, shares, commodities, and crypto. OANDA offers a range of account types to meet the needs of different traders, whether they are beginners or high-volume professionals.

Conclusion: Should I trade with Oanda?

Each subsidiary provides different products via different platforms, so clients will experience OANDA differently depending on their country of residence. OANDA is regulated in numerous Tier-1 jurisdictions including in the U.S., U.K., Europe, Australia, Japan, and Canada, making it a trustworthy broker to keep your money safe. OANDA’s longstanding history dating to 1996, impeccable regulatory track record, global licenses and capital infusions from private equity groups over the years make it a safe broker to hold client funds.

OANDA does not specify a strict minimum deposit amount to open a standard account. However, it’s important to check the account funding requirements when you register, as these may vary depending on the type of account you choose. On the negative side, Oanda needs to improve its asset offering to cover more markets and also their platform integrations to allow for a smoother experience.

This regulation provides traders with peace of mind when executing trades on the platform. OANDA offers various trading instruments, including forex, commodities, cryptocurrencies, shares, indices, and metals. This enables you to diversify your portfolio and access global markets. The “Learn” section on their website provides traders with access to a wide variety of instructional resources covering a variety of topics. There are many training videos available, and they cover a wide range of subjects related to trading, such as fundamental analysis, technical indicators, forex/CFD trading, and many more. When Namibian traders deposit or withdraw funds to/from the trading account in any currency other than the accepted account currencies, they are charged a conversion fee.

The available research materials are also at an industry-leading level. A pioneer in the forex industry, it is one of the most widely regulated brokers globally. OANDA also distinguishes itself as one of a small number of forex brokers offering services in the United States. OANDA offers a comprehensive suite of platforms designed to cater to all types of traders. OANDA enhances the trading experience with powerful tools like MetaTrader, TradingView, and mobile apps. The platform also offers competitive spreads on key instruments and a variety of account types, making it ideal for both beginner and professional traders.

A lot of user reviews often compare it to XM Group, a platform launched in 2009. Its biggest strength is a massive number of tradable symbols – over a thousand of them – but at the same time, it lacks in the currency pairing department. When it comes to choosing a forex broker, there are plenty of options available. And while all forex brokers have their own strengths and weaknesses, one broker that often stands out is OANDA.

OANDA advertises the use of an automated engine to attempt to follow global pricing closely, but spreads are still subject to market volatility and liquidity.
Furthermore, unlike most brokers that offer micro contracts (1,000 units) as the smallest trade size, OANDA allows you to trade as little as 1 unit of currency when trading forex.
➡️ Traders in Namibia have access to the full range of charting choices via the mobile app, in addition to the trading functions that are available on the desktop platform.
With a $0 minimum deposit, the barrier to entry is low, and the range of available platforms and tools is excellent.

Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here). The one caveat to this is that in order to access OANDA’s more competitive core pricing, you must deposit at least $10,000. This enables commission-based forex trading on lower average spreads, compared to its standard spreads which are higher. OANDA’s forex trading costs are generally steep, with high effective spreads across both its default and core pricing, compared to the best brokers.

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➡️ Traders must be 18 years or older to apply and OANDA will only pose questions that are relevant to the trader’s application, or for regulatory purposes. This sort of account is suitable for most Namibian traders, independent of the traders’ trading objectives or personal preferences. Further, OANDA charges overnight financing fees to users with an open position on their account at the end of each trading day (i.e., 5 pm Eastern Time). OANDA is one of the oldest platforms in the sector, with almost three decades of online presence.