OANDA
- Trust score
- 8/10
- Legal simplicity
- 1/10
- Min. deposit
- 0
- Payment systems
- Broker guides
Features
- Free seminars and trader training
- Daily market analysis from OANDA analysts
- No minimum deposit
- Islamic (swap-free) accounts
- Segregated client funds
- Affiliate program
- Wide range of tradable instruments
Updated:
OANDA is a forex and CFD broker founded in 1996, with offices in the US, Canada, the UK, Germany, Japan, Singapore, Australia, and India, serving clients in more than 200 countries. It is regulated by the CFTC and NFA in the US, the FCA in the UK, ASIC in Australia, IIROC in Canada, MAS in Singapore, and the FFAJ in Japan. Client funds are held in segregated accounts, and the broker offers MT4 alongside its own Desktop, Web, and Mobile platforms.
OANDA is a multi-regulated forex and CFD broker with no minimum deposit, MT4 plus its own desktop, web, and mobile platforms, segregated client funds, and Islamic account options.
Overview
OANDA is a forex and CFD broker founded in 1996, with offices in the United States, Canada, the United Kingdom, Germany, Japan, Singapore, Australia, and India. It serves clients in more than 200 countries.
Regulation and Fund Safety
OANDA is regulated in each of its main markets: the CFTC and NFA in the United States, the FCA in the United Kingdom, ASIC in Australia, IIROC in Canada, MAS in Singapore, and the FFAJ in Japan.
Client funds are held in segregated accounts at top-tier banks. The broker also uses SSL encryption and two-factor authentication to protect client accounts.
Trading Platforms
Traders can use MT4 or OANDA's own Desktop, Web, and Mobile platforms. All include charting tools and risk-management features, and connect to third-party platforms such as TradingView and MultiCharts.
Account Types
OANDA offers a single standard account for retail clients. Deposits of $50,000 or more qualify for individual pricing and tighter spreads. The broker also offers corporate and trust accounts, plus an Advanced Trader program for high-volume clients.
Markets and Instruments
The instrument range covers more than 100 markets, including currency pairs, commodities, indices, bonds, and metals, with transparent, competitive pricing.
Fees and Leverage
Forex and CFD trading costs are built into the spread; OANDA does not charge a commission on forex trades. An inactivity fee applies after 12 months without trading activity. Maximum leverage is 50:1 in the US and 30:1 in the EU.
Deposits and Withdrawals
Deposits and withdrawals are available by credit/debit card and bank transfer, with no deposit fees. Bank transfer withdrawals carry a fee, though the first card withdrawal each month is free.
Customer Support and Education
Support is available by phone, email, and live chat in multiple languages. OANDA also provides educational material and market analysis for traders at every level.
User Experience
Onboarding is straightforward, with an intuitive layout for new traders and advanced charting and customizable layouts for more experienced ones.
Pros and Cons
Pros:
- Regulated by top-tier authorities in multiple jurisdictions
- Advanced, multi-platform trading tools
- Responsive multilingual customer support
- No deposit fees and competitive spreads
Cons:
- Limited cryptocurrency and commodity offering
- Inactivity fee after 12 months without trading
Verdict
OANDA combines multi-jurisdiction regulation, a broad platform choice, and no-commission forex pricing, making it a solid option for traders who want a well-regulated broker with flexible platform access.
