OANDA forex broker review and detailed information
How does OANDA compare with its competitors? Check out also our comprehensive and fully interactive comparison of forex brokers. If you do not know what the terms in the following tables mean, read the tutorial about forex brokers first.
Basic information
| Website | Visit Oanda |
| Type | MM |
| Regulated by | NFA, CFTC |
| Country | USA |
| Established in | 1995 |
| Live chat | yes |
Trading terms
| Commission (pips) | 0.00 |
| Fixed spread | no |
| Variable spread | yes |
| Spread on majors (pips) | 0.9-4.0 |
| Leverage | 50:1 |
| Minimum deposit (USD) | 100 |
| Minimum trade size (USD) | 1 |
Available features
| Number of currency pairs | 46 |
| Precious metals | yes |
| Oil | no |
| Hedging | no |
| Trailing stop | no |
| Free automated trading | no |
| MetaTrader 4 | no |
| Mobile trading | yes |
Forex account
| Demo account | yes |
| Interest on unused balance | yes |
| Islamic swap-free accounts | no |
| Accepts U.S. citizens | yes |
| Payment by Bank wire | yes |
| Payment by Credit card | no |
| Payment by PayPal | yes |
| Payment by check | yes |
| Other payment options | |
| Account in USD | yes |
| Account in Euro | yes |
| Account in GBP | yes |
| Account in CHF | yes |
| Account in JPY | yes |
| Account in AUD | yes |
| Account in CAD | yes |
| Account in NZD | no |
| Account in CZK | no |
| Account in DKK | no |
| Account in HKD | no |
| Account in ILS | no |
| Account in NOK | no |
| Account in PLN | no |
| Account in RMB | no |
| Account in RUR | no |
| Account in SEK | no |
| Account in SGD | no |
| Account in ZAR | no |
Languages
| Arabic | no |
| Chinese | no |
| Czech | no |
| Dutch | no |
| English | yes |
| French | no |
| German | no |
| Greek | no |
| Hebrew | no |
| Indonesian | no |
| Italian | no |
| Japanese | no |
| Korean | no |
| Malaysian | no |
| Polish | no |
| Portuguese | no |
| Russian | no |
| Spanish | no |
| Turkish | no |
See also: OANDA expert review on the Forex Learning Blog.
Sponsored links
OANDA customer reviews
Are you a satisfied customer? Or you want to share a scary story? Tell the world about your real-life experience with this forex broker! While writing your review, please also specify for how long time you have been trading with them and what trading style you use (for example news trading, grid trading, scalping, etc.). Readers with a similar trading strategy will pay more attention to your comment. Only genuine broker reviews will be published; posts promoting a website and generic comments will be removed.
ASDF
2009-12-16
I have been with Oanda for about a year. Oanda is a market maker so they actively trade against there customers. They actively hunt stop losses. Oanda's trading platform freezes often. I have lost my connection to my trading account while trading and they told me that I was having internet connectivity problems even though I could get to other web sites and log in to my email without a problem. They also did not know that I used to be a network administrator before telling me that I was having internet connectivity problems. Oanda is a highly manipulated environment. The correct term for this type of broker is a "Bucket Shop"
ECN brokers are the most free market breed of broker. They do not have a dealing desk that can be manipulated. ECN brokers want you to be successful because they make money when you make money. Oanda makes money when you loose. As time moves forward traders will opt for ECN brokers and market makers will go bust.
Add your Oanda review: