Oanda Rated 3/5

Oanda Guide - Read our In Depth 2024 Oanda Review

This detailed Oanda review has been researched and fact checked by industry experts with over 30 years of financial experience in Forex, CFDs.
*This content does not apply to US users.

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Benefits of Trading with Oanda

Oanda Review 2024 Quick Summary
๐Ÿ’ฐ Min Deposit 1
๐Ÿ‘ฑโ€โ™‚๏ธ Used By 10,000 Oanda users and traders
๐Ÿ“† Founded 1996
๐ŸŒ HQ United States, Canada
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC)
๐Ÿšซ Excluded Countries Oanda is not available in the following countries : US, FR, IR, CU, KP, DZ, SY

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Losses can exceed deposits

Learn more about IC Markets.
learn more Learn more about IC Markets.
Losses can exceed deposits

What is Oanda?

Oanda are a worldwide financial trading platform and broker. founded in 1996

Over 28 years later Oanda now serves over 10,000 retail investors Forex trading, and CFDs trading.

Oanda are a global broker. Oanda have a head office in United States, Canada.

Oanda have a listed stock symbol. This means that Oanda have publically listed and you can officially buy/sell shares in Oanda on one of the worlds global stock market exchanges.

When trading in the financial markets, finding a broker that meets your needs can be very time-consuming.

We will dive deep in this Oanda review and assess how well the Oanda platform functions in its role as an international multi asset trading platform for traders in 2024.

Visiting many broker websites, all of which have different language uses. Technical language and terminology can be confusing with brokers like Oanda. Choosing or shortlisting a trading platform like Oanda can be time consuming. Choosing a trading platform requires a significant amount of research and analysis. It can be challenging to understand each platform's various features and benefits, especially with a complex trading platform like Oanda.

As a result, selecting the right trading platform like Oanda requires a deep understanding of the market, trading strategies, and platform functionality. The task becomes even more daunting when considering the vast number of online brokers like Oanda available, each with unique features, fees, and regulations.

In such a complex landscape, finding a reliable and trustworthy broker like Oanda requires thorough due diligence and careful consideration. Some Oanda trading features can be complex when trading on mobile or using the Oanda online trading platform. Beginners and inexperienced traders must take the time to learn how to use the Oanda trading tools properly. In our review of Oanda we explain the pros and cons. What Oanda offer, countries Oanda are available in. Who Oanda are regulated by and more.

Oanda Review Screenshot

When it comes to online trading with brokers like Oanda, carefully review Oanda as your broker can make or break your success. Choosing the right broker is essential to ensure your Oanda investments grow and flourish. However, beware of fake and unreliable brokers lurking in the shadows, waiting to take advantage of unsuspecting traders.

You must be diligent and thorough in your Oanda review selection process to safeguard your hard-earned money. It's crucial to do your due diligence and research the reputation, track record and trust worthyness of Oanda. You must also ensure the Oanda broker's profile, trading tools, fees and regulation aligns with your needs and goals.

Remember, Oanda needs to be your partner in your trading journey.

Our team has endeavored to break down the complex world of trading with Oanda into easily digestible information in this Oanda review. We want to ensure you have all the knowledge necessary to use the Oanda trading tools confidently, from depositing and withdrawing funds to executing trades.

We understand that informed decisions with Oanda are the key to successful trading, so we've provided this detailed Oanda review. So, take a seat, grab a cup of coffee, and dive in to learn about Oanda and how it can benefit you or if Oanda is not for you.

The fact that Oanda has a Wikipedia page is a testament to its reputation and credibility in online trading. It's worth noting that Wikipedia content is highly moderated for accuracy, so having a page dedicated to Oanda speaks to its legitimacy and significance.

Creating a Oanda Wikipedia page is challenging, as it requires meeting strict criteria and providing accurate, verifiable information regarding Oanda. Wikipedia must include reliable sources that support the Oanda content on the page.

If you want to learn more about Oanda and its history, its Wikipedia page is an excellent resource. You can find valuable information about the Oanda founders, services, and industry reputation. Open the Oanda Wikipedia page.

Online investing with Oanda can be just as risky as traditional offline investments. Therefore, conducting thorough research on the company you plan to invest with is crucial. If considering trading financial assets with Oanda, evaluating the Oanda platform is important. Evaluation includes researching the Oanda management team, track record, and services.

As a trader, you should feel confident that your financial investments are in good hands with Oanda. That's why it's essential to understand the Oanda company policies and practices before making any investment decisions. By doing your due diligence and understanding Oanda platform, you can make informed investment choices that align with your financial goals. So take the time to research Oanda thoroughly and make the most of your online investing experience.

We aim to provide you with all the information in this Oanda review you need to determine if Oanda is the right fit for you. But we don't stop there - we also offer valuable insights into other great alternatives to Oanda, so you can make a more informed decision and compare other brokers against Oanda.

If you want to look at some Oanda alternatives that might better fit your needs, we list and compare some of the best Oanda alternatives further down this Oanda review.

Trading online with Oanda requires an understanding of what you are doing. It can be challenging and requires significant research and understanding of the Oanda trading tools and features. You must know what you are doing when trading with Oanda. That's why we've compiled this detailed Oanda review with some important information that will hopefully make you more informed when online trading with Oanda.

Oanda Review Table of Contents

Oanda review
Oanda is a Multi-Assets Trading Platform with over 100+ Assets

Learn more about Oanda. Oanda is a multi asset platform with 100+ tradable Assets. Assets available on Oanda include Forex, CFDs.

Oanda trades in multiple financial asset types. A financial asset is any security or asset that has financial value attached, tangible or intangible. This means that Forex, CFDs are considered financial assets.

Features of Oanda

Oanda review
What you should know

Oanda offer two ways to trade: Forex, CFDs. The assets and products available to you on the Oanda trading platform depends on the region of the world, you are in and the Oanda entity you have an account.

With Oanda you will need a minimum deposit of $1. You can sign up for a demo account to acquaint yourself with Oanda platform.

Oanda are able to accommodate various levels of traders whether you are experienced or a beginner.

Are Oanda safe?

When considering Oanda for your trading activities, its financial regulatory status in your region is crucial. One of the primary considerations when evaluating a broker, such as Oanda, is to assess the broker's regulatory status and administrative body. Brokers operating without supervision from a regulatory authority are free to make their own rules, which may pose a risk to investors. Any capital you invest is at risk.

Established in 1996, and in operation for 28 years Oanda have a head office in United States, Canada.

Oanda is regulated. This means Oanda are supervised by and is checked for conduct by the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC) regulatory bodies.

Oanda withdrawal requests will be honoured. Brokers that operate under the supervision of regulatory authorities like Oanda are subject to strict guidelines that prohibit them from manipulating market prices to their advantage. Regulatory oversight ensures brokers operate with integrity, fairness, and transparency, safeguarding investors' deposits. Oanda are held accountable for their actions and may face severe consequences if they violate any financial regulations. If you are a client of Oanda and wish to withdraw funds from your account, you can rest assured that your request will be processed promptly. Oanda has a reputation for efficient and reliable fund transfers, and adhere to the rules of the financial regulators they are regulated with. When you submit a withdrawal request, Oanda will verify your account details and process the payment within the stipulated timeframe, usually within a few business days. By partnering with a trustworthy broker like Oanda, you can enjoy peace of mind and focus on your trading activities. If Oanda violate any regulatory rules their regulated status could be stripped.

Losses can exceed deposits

Is my money safe with Oanda?

All payments made to Oanda by traders are securely held in a segregated bank account.

Oanda uses Tier 1 banks for increased security. These banks are deemed the most reliable for client capital due to their strong core capital reserves and ability to withstand losses.

What are Tier 1 banks and why should Oanda use them?

Oanda partnering with Tier 1 banks offers reliability, efficient payment processing, reduced counterparty risks, and better protection for client funds. These banks are the most financially stable and secure institutions globally, with robust financial strength and high-quality risk management practices. They hold substantial core capital reserves, making them capable of handling unexpected losses and market volatility without endangering their Oanda clients' funds.

Oanda clients can have greater confidence in their financial security when working with a Tier 1 bank because Oanda are subject to strict regulatory oversight and must adhere to stringent guidelines to maintain its Tier 1 status.

What does it mean to have your funds in Oanda deposited in a Tier 1 bank?

Depositing funds with Oanda ensures that your money is held in a secure bank account with sufficient capital to meet your withdrawal requirements, even if Oanda were to go out of business unexpectedly.

Based on the information presented, it is safe to conclude that Oanda is a secure and safe platform.

Please be aware that trading in financial assets with Oanda carries a risk of loss. Oanda trading risk can occur due to inadequate market research, lack of experience, or failure to use the platform tools. It is common to experience rapid losses when trading financial investments like Forex, CFDs due to market volatility. Therefore, you should only risk trading when you understand that your capital is at risk at any time.

Oanda emphasizes this risk on its platform and provides clear risk warnings - Losses can exceed deposits. After answering some important questions about Oanda, let's closely examine its features.

To better understand the Oanda trading platform, you can create two separate accounts - one with real money and the other a Oanda demo account. A Oanda demo account provides a risk-free environment for experimenting with the Oanda platform's features and trading strategies before risking your actual funds. This approach can help you gain experience and confidence in Oanda trading decisions.

Open a demo account Visit Oanda

Losses can exceed deposits

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

How Oanda as a Company Compare Against Other Brokers

Broker Oanda IC Markets Roboforex eToro
Year Established 1996 2007 2009 2007
Head Office United States, Canada Australia Belize Cyprus, UK
Regulation Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC) Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund FCA (Financial Conduct Authority) eToro (UK) Ltd (FCA reference 583263), eToro (Europe) Ltd CySEC (Cyprus Securities Exchange Commission), ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076
Used By 10,000+ Oanda users 180,000+ IC Markets users 1,000,000+ Roboforex users 30,000,000+ eToro users
Negative balance protection No Yes Yes Yes
Guaranteed Stop Loss No No No No
Learn More Visit Oanda Visit IC Markets Visit Roboforex Visit eToro
Risk Warning Losses can exceed deposits Losses can exceed deposits Losses can exceed deposits 51% of retail investor accounts lose money when trading CFDs with this provider.

Oanda review
Oanda Pros and Cons

What we like about Oanda

  • Used by over 10,000 Oanda users and traders
  • Established in 1996
  • Regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC)
  • Min. deposit from $1

What we don't like about Oanda

Oanda review
Oanda Regulation and Licensing in more detail

Oanda is regulated by trusted organizations, providing recourse for any issues. Regulatory bodies protect traders through reimbursement schemes in case of Oanda going into insolvency. Oanda compliance with rules and criteria set by regulatory authorities is mandatory for brokerage firms like Oanda to maintain licenses and operate in certain jurisdictions. Financial regulation and licensing are crucial for creating a secure trading environment for Oanda traders.

Oanda is regulated, governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the brokers' behaviour, and they will take necessary action if things go wrong. Before trading online with a broker like Oanda you should be sure they're legitimate online agent.

Is Oanda Global?

Yes, Oanda is global as Oanda is available in over 188 countries.

Oanda is a global trading platform in the sense that it operates in 188 countries including nations in Africa, Asia, Oceania, and Europe. Major countries Oanda covers include the UK, Germany, South Africa, Thailand, China and Australia. As per its Wikipedia page, Oanda has a total of more than 10,000 users.

Oanda review
Oanda Fees Explained

  • Oanda withdrawal fees varies on payment method
  • Oanda does not charge a fee for inactive accounts.
  • Oanda doesn't charge deposit fees. A currency conversion fee may be applied as withdrawals and deposits from Oanda are conducted in USD. Any other currency will have to be converted to your local currency by your 3rd party payment provider.

Oanda Costs To Check

Modern brokers like Oanda provide advanced online trading platforms, mobile apps, financial analysis tools and educational resources. These services require significant investment, and in turn, Oanda may charge clients various fees for trading activities. Be mindful of these charges, impacting your overall Oanda trading profitability.

How Oanda Fees Compare Against Other Brokers

Broker Oanda IC Markets Roboforex eToro
Min Deposit 1 200 10 100
Withdrawal Fees Varies No Yes Yes
Inactivity Fees No No No Yes
Deposit Fees No Varies No No
CFD Commission Fees No Yes No Yes

Oanda Minimum Deposit

Oanda requires a minimum deposit of 1 GBP/USD/EUR when opening an Oanda trading account.

A minimum deposit is the minimum amount of money required by Oanda to open a new online brokerage account with them.

Don't be scared off by brokers like Oanda charging a minimum deposit to open a trading account. Brokers charging higher minimum deposits may offer additional premium services on their platforms that are not free on other platforms.

In the trading world, brokers like Oanda, have different minimum deposit requirements based on the target audience they are trying to attract. Brokers with lower minimum deposit requirements typically cater to a more mainstream audience who don't require advanced research tools or features. On the other hand, brokers that require a larger minimum deposit often provide a greater range of trading features, more in-depth technical analysis, research tools, and better risk management features.

Some brokers may waive the minimum deposit requirement to attract new customers but may compensate for it by charging higher transaction commissions and trading fees. As the online trading market becomes more competitive, brokers have reduced their minimum deposit requirements to attract new clients.

However, it's important to note that depending on your trading account type, some brokers may require a higher minimum deposit of up to 10,000 GBP/USD. Therefore, it's essential to research and compares different brokers to determine which best suits your trading needs and budget.

Oanda Withdrawal Fees

The fees for withdrawing funds from your Oanda account will differ depending on your chosen payment method. Reviewing the fees associated with each payment method before making your Oanda withdrawal request is important.

Oanda Withdrawal rules may vary across different brokers when it comes to transferring funds from your Oanda or other broker trading account. Each brokerage firm has its specific withdrawal methods. The payment provider associated with Oanda may have different transfer processing fees and processing times, affecting how long it takes to receive your funds.

In addition, currency conversion fees may apply if the Oanda withdrawal and receiving currencies differ, adding to the overall transaction costs. The currency conversion fee depends on your base currency, receiving currency, and the 3rd party payment provider that is separate from Oanda. Researching and comparing Oanda withdrawal policies and fees across different brokers is essential before choosing one, especially if you are withdrawing Oanda funds frequently or dealing with large sums of money. Awareness of these Oanda fees and policies can help you plan and budget accordingly and avoid any unpleasant surprises when transferring your Oanda funds.

For example, Oanda allows you to withdraw your funds to Bank Transfer, Cheque or Check, Debit cards, Payoneer.

Oanda Inactivity Fees

Oanda does not charge a fee for inactive accounts.

When a trading account goes unused for a certain period, brokerage clients may be charged an account inactivity fee. To avoid such fees, clients may need to fulfill specific trading activity requirements outlined by Oanda terms and conditions. It's important to note that inactivity fees are not unique to online trading accounts, as many financial service companies may also charge them.

Make sure you're fully aware of all Oanda fees and services. It's recommended that you check the Oanda website before signing up. If you decide to close your Oanda account, it's important to do so with the Oanda broker customer support and obtain confirmation that no remaining Oanda fees are due.

Brokers like Oanda must disclose any inactivity fees as part of their regulations. The type of account and broker you sign up for, will determine whether or not you can be charged an inactivity fee under certain circumstances.

Certain brokers may levy inactivity fees to recoup the expenses associated with sustaining your account on their trading platforms when there is a shortage of commission fees earned from your trading activities.

Oanda Deposit Fees

Oanda does not charge deposit fees. Although bank / 3rd party merchant fees may apply.

Reviewing deposit fees before initiating a transaction is imperative, as certain brokers might impose a charge for depositing funds from your payment method to your trading account. The payment method employed for funding your account might also incur a fee.

Depositing funds into your trading account may incur a fee, which could vary depending on the fiat currency used. For instance, depositing funds from a credit card can attract high fees. Additionally, not all brokers accept credit card payments for account funding. It's crucial to review the funding options and associated fees the broker provides before depositing any funds.

Oanda Commission Fees

Oanda does not charge commission on CFD instruments.

Brokerage firms like Oanda may charge commission fees as compensation for executing trades on behalf of traders on their trading platforms. Commission fees can vary depending on the type of financial asset being traded and the Oanda trading account level held by the trader.

Oanda may charge commission fees for fulfilling, modifying, or canceling an order on behalf of its clients. However, if a market order is not fulfilled, no commission fee is usually charged. Reviewing Oanda terms and conditions to understand the commission fees and any other charges that may apply is essential.

Oanda review
What can you trade with Oanda?

It's essential to note that the trading instruments offered under the Oanda brand may vary depending on the customer account holder and country of residence due to regulatory restrictions. Besides, the trading platform the customer selects may also impact the available trading instruments. Therefore, before trading, verify the Oanda trading instruments available and the regulations governing them based on your account holder, location, and chosen platform.

You can trade a wide variety of instruments with Oanda over 100 instruments in fact.

If you want to trade currency pairs on global Forex markets, Oanda offer over 55 currency pairs.

Oanda Compared To Other Brokers

Compare Oanda with IC Markets and Roboforex below.

Losses can exceed deposits

How Oanda Trading Options Compare Against Other Brokers

Broker Oanda IC Markets Roboforex eToro
Instruments Available 100 2250 100 5000
Platforms MT4, OANDA Desktop, OANDA Web, OANDA Mobile MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android MT4, MT5, Mac, Web Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps
FX / Currencies        
Forex pairs offered 55 61 35 50
Major Forex pairs Yes Yes Yes Yes
Minor Forex pairs Yes Yes Yes Yes
Exotic Forex pairs Yes Yes Yes Yes
Cryptocurrencies (availability subject to regulation) No Yes No Yes
Commodity CFDs        
Commodities Offered 0 20 21 31
Metals Yes Yes Yes Yes
Energies Yes Yes No Yes
Agricultural Yes Yes No Yes
Indiced & Stock CFDs        
Stocks Offered 0 2100 0 2042
UK Shares No Yes Yes Yes
US Shares No Yes Yes Yes
German Shares Yes Yes Yes Yes
Japanese Shares Yes Yes Yes Yes
Risk Warning Visit Oanda
Losses can exceed deposits
Visit IC Markets
Losses can exceed deposits
Visit Roboforex
Losses can exceed deposits
Visit eToro
51% of retail investor accounts lose money when trading CFDs with this provider.

Oanda review
Trading on Oanda web platforms and other applications

Oanda offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.

Oanda also offer mobile apps for Android and iOS trading apps help you stay on top of your trades and execute them on the go.

See Oanda's platforms

Is the Oanda Trading Platform Secure?

You should take the security of your personal information seriously and check SSL encryption is enabled on the Oanda trading platform to protect you on PC and mobile Oanda platforms. To further enhance security, we encourage traders to always look for the lock sign on their browser when using Oanda web trading platforms.

Oanda Trading Platform Options

After logging into your Oanda account, you'll find a range of trading platform options available below.

  • MetaTrader 4 (MT4)

Please be aware that Oanda does not currently support the MetaTrader 5 (MT5) trading platform. However, if you're looking for a broker that does offer MT5, you can check out our list of recommended brokers available through the provided link.

Oanda does not support the cTrader trading platform. However, if you're looking for a broker that does offer cTrader, you can explore other options available through the provided link.

Let's explore each of these trading platforms in detail and what options Oanda gives you.

Oanda review
Oanda MetaTrader 4 (MT4)

Oanda MetaTrader 4

Oanda MetaTrader 4 (MT4) In Detail

MetaTrader 4, commonly known as MT4, has been a well-known and widely used trading platform in the financial markets since its inception in 2005. MT4 on Oanda offers traders comprehensive features and tools to enhance their trading performance. The Oanda MT4 user-friendly interface and highly customizable trading environment allow traders to tailor the Oanda platform to their needs. One of the standout features of MT4 is its charting functionality, which allows Oanda traders to analyze price movements and make informed trading decisions. Additionally, advanced order management tools give Oanda traders greater control over their trades, allowing them to manage risk better and optimize their trading strategies on the MT4 Oanda trading platform.

MetaTrader 4 (MT4) was created mainly for Forex trading, but it can also facilitate the trading of other financial instruments via CFDs and Spread Betting. You cannot trade real assets like stocks, shares, commodities, indices and ETF's on the Oanda MetaTrader 4 (MT4) trading platform. MT4 is a platform available with Oanda, that facilitates trading financial instruments in the form of CFD contracts or Spread bets. The Oanda MT4 platform does not provide access to physical assets such as stocks, commodities, or ETFs for trading. Oanda allows trading CFDs and Spread bets, which do not involve owning underlying assets but speculating on price movements, using high risk leverage. To gain more information about the MT4 Platform, click here.

You can start using the MetaTrader 4 platform with Oanda in multiple formats including through an online web platform, Through a downloadable application for Windows PCs and Apple Macintosh computers. Oanda MetaTrader 4 is compatible with the latest macOS. Oanda allows traders to trade on mobile devices through Android and iOS devices like the iPhone.

Metatrader 4 Webtrader on Oanda

MetaTrader 4 (MT4) is a widely used trading platform in the world, offering a range of advanced tools and features. Recently, MT4 has been made available as a web-based application through a web browser, enabling traders to access the platform from anywhere.

The web version of MT4 provides the same user-friendly interface and customizable trading environment as the desktop version. With MT4 web, traders can access advanced charting tools, online trading indicators, and a Dealing Desk-free trading environment.

Additionally, traders can enjoy Raw Pricing without any intervention from brokers. Overall, MT4 web is a convenient and efficient way for traders to access the platform and manage their trades.

Trade Oanda MetaTrader 4 on iOS Devices

You can download the Oanda app or trade with Oanda through the MetaTrader 4 application on the Apple app store.

Download the Metaquotes MetaTrader 4 Program free of charge from Apple's App Store. Oanda customers have instant access to the financial market and can completely manage a Portfolio on the go.

Trade Oanda MetaTrader 4 on Android Devices

Millions of people worldwide use Android mobile devices and tablets, and Oanda offers its clients access to the MetaTrader 4 platform on these devices. With the Oanda MetaTrader 4 Android application, traders can monitor the financial markets and execute trades directly from their Android-based smartphones and tablets. This app provides access to a range of advanced trading features, allowing Oanda traders to stay on top of their trades and react quickly to changes in the market. With the Oanda MetaTrader 4 Android app, traders can securely manage their trades on the go, making it a convenient and efficient way to stay connected to the market.

Trade Oanda MetaTrader 4 Trading Central

Trading Centrals Alpha Generation Indicators available on Oanda are a powerful bundle of three major indicators designed to help traders make informed decisions. Oanda MT4 Trading Central indicators include:

  • Analyst Perspectives - A valuable resource for traders seeking leadership insights and key levels.
  • Adaptive Candlesticks - This indicator is capable of identifying chart patterns that highlight significant changes in demand and supply.
  • Adaptive Divergence Convergence (ADC) - Similar to MACD, but with greater utility at shorter lengths, this indicator provides more timely signals.

Trading Centrals Alpha Generation Indicators can help Oanda traders better understand market trends and patterns, enabling them to make more informed trading decisions. These indicators can provide valuable insights into market movements, allowing Oanda traders to potentially stay one step ahead.

Oanda MetaTrader 4 Advanced Trading Tools

The Oanda MetaTrader 4 trading platform has advanced tools that enhance the overall trading experience and give Oanda traders detailed market tools. With feature-rich trade execution and management programs, sophisticated notification alarms, messaging facilities, innovative market data, and more, Oanda provides traders with everything they need to succeed. The Oanda MT4 platform also includes a range of technical analysis tools, with 30 indicators built in, 2000 plus free indicators, and the availability of paid indicators, allowing Oanda traders to analyze the market at any level of complexity.

Trade Oanda MetaTrader 4 MultiTerminal

MetaTrader 4 MultiTerminal offers traders an intuitive and user-friendly dashboard to manage and monitor multiple trading accounts. This powerful tool allows traders to oversee over 128 accounts simultaneously, enabling them to place market and pending orders, view real-time market prices, and track all accounts and equity in real-time.

It's important to note that MultiTerminal only supports trading accounts on the same MetaTrader server and doesn't allow automated trading scripts such as Expert Advisors.

This tool is ideal for traders who manage several accounts simultaneously and require a more efficient and effective way to track and execute trades. You can have up to 10 demo accounts on MetaTrader 4 MultiTerminal.

Oanda MetaTrader 4 AutoChartist

Autochartist on the Oanda platform is a powerful tool designed to help traders find trading opportunities quickly and easily.

Available for Oanda MetaTrader 4 Autochartist can scan the market using an expert advisor script.

With Autochartist, Oanda traders can scan multiple markets and timeframes from a single graph, making it easy to keep track of all their preferred symbols without launching multiple graphs. Using Autochartist can save Oanda users time and makes the trading process more efficient.

The Autochartist interface is user-friendly and can be customized to suit individual trading preferences. Oanda traders can navigate the platform and find the information they need to make informed trading decisions.

Oanda Autochartist is a valuable tool for traders who want to stay ahead of the curve and identify trading opportunities quickly and easily. With its powerful features and easy-to-use interface, Autochartist is an essential tool for Oanda traders of all experience levels.

Oanda Trading benefits

  • Oanda Allows scalping
  • Oanda Allows hedging
  • Oanda Low min deposit

Oanda Trading Accounts Offered

Below we give an overview of the account types that Oanda offer. Whatever you are looking to trade, the varying Oanda account types will be able to provide you with what you need.

  • Oanda Demo account
  • Oanda Mini account
  • Oanda Standard account

Can I try Oanda?

Oanda provides a demo account that enables individuals to explore trading before investing their funds. By creating a Oanda practice account, users can gain experience and knowledge of how to trade effectively. Demo trading accounts like the Oanda demo account can help individuals to make informed decisions before investing their money.

Open a demo Oanda account to practice and trade.

Losses can exceed deposits

Oanda withdrawal and funding methods

It's essential to remember that the payment methods provided by Oanda vary based on the Oanda entity and the Oanda client's country of residence. To view the Oanda payment options available, you can log into your Oanda member's area.

Oanda offers various funding payment methods listed in your Oanda dashboard if available in your region. To learn more about the Oanda funding and withdrawal options available in your area, you can explore the Oanda website.

Oanda provides several payment methods for funding your Oanda account. You may utilize any of these deposit options if they are available in your region. Oanda ensures that users have multiple payment methods to choose from, making it more convenient for verified Oanda account holders to add funds to their accounts. However, it's important to note that the availability of payment methods may vary depending on the Oanda user's location. learn more about Oanda funding and withdrawal methods.

Oanda Payment Methods

Some Oanda payment methods are local and are available only to specific regions. Oanda account holders should check which payment methods are provided in your region.
  • Oanda accepts Bank Transfer
  • Oanda accepts Cheque or Check
  • Oanda accepts Debit cards
  • Oanda accepts Payoneer
Broker Oanda IC Markets Roboforex eToro
Bank transfer Yes Yes Yes Yes
Credit Cards No Yes Yes Yes
Paypal No Yes No Yes
Skrill No Yes Yes Yes
Payoneer Yes No Yes No
Neteller No Yes Yes Yes

*please note available Oanda and other broker payment methods depend on the clients country of residence.

How can I start trading with Oanda?

To open a trading account with Oanda, individuals can sign up on the Oanda website. Upon completing the signup process, users will receive login details via email, which they can use to access their accounts.

The next step involves submitting identification documents for Oanda account validation and making a deposit. Once completed, Oanda users can download the trading platform of their choice.

It's important to note that Oanda requires users to provide essential documentation to verify their identity during onboarding and routine KYC identity checks. These checks are a standard practice that helps Oanda maintain a trustworthy financial environment for its 10,000 users. Detailed information on the Oanda trading platforms is available on their website.

Losses can exceed deposits

Performing trades with Oanda

The trading platform, Oanda, provides users various options regarding the minimum and maximum trade requirements. These requirements are determined based on the specific instrument being traded and the preferences of the individual trader. This flexibility allows traders to tailor their trading experience to their unique needs and investment goals.

Oanda, as a market maker, may have more lenient entry requirements than ECN brokers, who typically benefit from higher trading volumes and may have larger capital and minimum trade requirements. Market makers usually offer a lower minimum deposit and smaller minimum trade requirements and do not charge commissions on trades. Market makers like Oanda can be useful for traders starting or with limited capital.

One of the Oanda platforms notable features is its claim of having no requotes, which means traders need not be concerned about slippage when executing trades (i.e., trades being executed at a price different from the intended price). No requotes can provide Oanda traders with greater confidence and peace of mind when trading on the Oanda platform. It's worth noting, however, that other factors, such as market volatility and liquidity, can still affect the execution of Oanda trades.

Like other brokers, Oanda margin requirements can differ depending on the traded instrument.

CFD Trading on Oanda

We will show you an example of the basics of using Oanda leverage.

CFD trading on Oanda allows traders to speculate on the price movements of various financial instruments against the broker Oanda, without actually owning real assets. With CFDs, Oanda traders can profit from upward and downward price movements by going long (buying) or short (selling) on an asset.

Oanda provides CFDs which are leveraged products. For this example, let's assume a ten times leverage. So, if you have a $10,000 position, you only need to tie up $1,000 or a tenth of the value in your account. With high-risk leverage, a small sum controls a much bigger financial position.

The effect of leverage on profits and losses magnifies them in both directions. In other words, Oanda leverage profits and losses are magnified when trading. For instance, using CFDs, you use the Oanda trading platform to buy/sell $10,000 worth of Apple Computer Inc. If the stock rises by 10% due to positive results, your position is now worth $11,000, representing a $1,000 or 10% increase in value. This CFD trade has a 100% increase in the funds initially committed.

On the other hand, if Apple Computer Inc falls by 10%, your position worth $10,000 is now worth only $9,000, representing a $1,000 decrease. Therefore, Oanda leverage magnifies both profits and losses in trading.

Trading CFD trades on the Oanda platform can provide more flexibility than traditional market trades, allowing access to CFD fractional shares, international markets, and short selling. They are commonly used for short to medium-term trades, such as intraday CFD trading, but are high-risk due to their separation from the financial markets.

Experienced Oanda traders can trade high risk CFD trades to hedge items in their portfolio.

Always be aware that CFDs are complex instruments with a high risk of losing money rapidly due to leverage. Losses can exceed deposits

Limit Risk When Trading with Oanda Stop Loss, Oanda Stop Limit Orders

Stop-loss orders are a popular risk management tool traders use on platforms such as Oanda . By setting a specific price point for buying or selling a security, traders can limit their potential losses on a position.

Stop-loss orders are especially important for Oanda traders not hedging their positions or using leverage, as they can be more vulnerable to significant losses. However, the circumstances in which an Oanda trader should use a stop-loss order can vary depending on the specific trade and market conditions.

Overall, stop-loss orders can provide Oanda traders with an effective way to manage risk and protect their investments in volatile markets. Stop Loss and Take Profit are not guaranteed with Oanda, you must actively monitor your live trading portfolio and financial exposure on Oanda.

Education Resources at Oanda

To trade effectively with Oanda, it's important to have a good understanding of the Oanda trading tools and the markets. Make sure you make full use of all education tools. Including educational tools with Oanda and externally.

Oanda . It's essential to take the time to learn about the financial markets and understand how they move before diving into trading with Oanda. Familiarizing yourself with the Oanda trading platform is crucial to use it effectively.

While learning, you can also use global trading times to practice making live buy or sell trades using Oanda. This hands-on experience can help you gain confidence and become more comfortable with trading.

Furthermore, learning how to mitigate and manage investment risk is crucial. Trading with Oanda involves developing a strategy considering risk management techniques such as stop-loss orders, diversification, and position sizing. By effectively managing risk, you can increase your chances of success in the markets.

Learning about the financial markets, trading platforms like Oanda, and risk management techniques can help you become a more confident and successful trader.

Take an analytical approach to trading with Oanda. Explore the Oanda platform and train yourself to think systematically and logically about the markets.

While it may be a new skill set for some, it is what the market requires for success. Developing your trading skills with Oanda, before live trading.

Customer Support at Oanda

As part of our Oanda review, we review customer service options, response times and problem resolution effectiveness on the Oanda trading platform. The Oanda trading platform supports multiple languages, which includes English, Chinese, French, German, Japanese, Korean, Russian, and Spanish.

Oanda Available Support Types

Oanda have a double AA grade support rating because Oanda offer live chat and email support in multiple languages.

Livechat Support at Oanda

Our experience with the Oanda live chat was positive. We received a response within 30 seconds of sending a message through their app and website. Overall, great live chat support from Oanda.

We tested communicating with Oanda customer support in multiple languages and countries. Oanda made an effort to resolve the issues we had.

Email Support at Oanda

Our experience with Oanda email support was positive. We sent 25 emails at different times and received responses within an average of 2 hours. The fastest response was less than 15 minutes, while the slowest was 7 hours. Although response times may vary, we found their team to be helpful and knowledgeable in resolving our queries.

Phone Support at Oanda

Our experience with Oanda phone support was positive. The team answered the call in under 5 minutes and successfully resolved our queries over the phone. We appreciated their efforts in catering to multilingual support. Overall, a great phone support experience with Oanda.

See how Oanda Support Compares Against Other Brokers

Broker Oanda IC Markets Roboforex eToro
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages English, Chinese, French, German, Japanese, Korean, Russian, and Spanish English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian English, German, Spanish, French, Italian
Learn More Visit Oanda Visit IC Markets Visit Roboforex Visit eToro
Risk Warning Losses can exceed deposits Losses can exceed deposits Losses can exceed deposits 51% of retail investor accounts lose money when trading CFDs with this provider.

What you will need to open an account with Oanda

As Oanda is regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC).

As a new client of Oanda, you will be required to pass a few basic compliance checks to ensure that you fully understand the risks involved in trading and are permitted to trade with Oanda in your region. During the Oanda account opening process, you will be asked to provide Oanda with certain documents, including a scanned copy of your passport, driving license or national ID, as well as a utility bill or bank statement from the past three months to verify your address.

When registering with Oanda have the following documents available.

  • Oanda require a scanned colour copy of your passport, driver's license or national ID card.
  • A recent utility bill or bank statement that confirms your residential address for Oanda compliance. This must be dated within the last six months.
  • If you plan to fund your Oanda account using a credit or debit card, you will need to provide a scanned copy of the front and back of your card. You can mask any sensitive information like the CVV code on the Oanda platform.

It's worth noting that the expiration date of the proof of address document may differ for different entities under Oanda Brand. Additionally, you will need to answer some basic compliance questions to confirm your level of trading experience. This process usually takes around 5 minutes, and once you've passed compliance, you can start exploring Oanda's platform.

However, remember that you won't be able to make trades on Oanda until you have passed compliance, which may take several days, depending on your circumstances. It's essential to complete the Oanda KYC compliance process as soon as possible to avoid any delays in accessing the Oanda platform's features.

It is important to note that Oanda may request additional documents or information to verify your identity or comply with regulations. The account opening process usually takes a few minutes to complete, and you can start exploring the Oanda platform and features immediately. However, you must pass the verification process to start live trading with Oanda, which can take up to a few business days.

To start the process of opening an account with Oanda you can visit the Oanda trading platform here.
Losses can exceed deposits
You should consider whether you can afford to take the high risk of losing your money.

CFDs are leveraged products and can result in significant losses, excess of your invested capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered investment advice. All information collected from https://www.oanda.com on June 12, 2024.

Is Oanda A Good Broker?

We have spent over 5 years examining Oanda in depth. Although we found some very useful aspects of the Oanda platform that would be useful to some traders. We feel that a alternative to Oanda may better suit you.

  • Oanda have a good track record of offering Forex, CFDs.
  • Oanda has a history of over 28 years.
  • Oanda has a reasonable sized customer support of at least 10.
  • Oanda are regulated by the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC). Oanda is subject to strict regulatory oversight from its respective jurisdiction, which holds Oanda (the broker) accountable for misconduct. This regulatory framework helps ensure that Oanda operates fairly and transparently and provides Oanda customers with a safe and secure trading environment. In any disputes, the regulatory body may also act as an arbitrator to help resolve issue between you and Oanda.
  • Oanda have regulation from reputable regulators.
  • One of the advantages of using Oanda is the quick processing time for deposits and withdrawals, which typically takes only 2 to 3 days. Fast withdrawals from Oanda are particularly important as Oanda traders want to receive their money quickly. With the efficient Oanda payment processing system, traders can enjoy faster access to their Oanda funds.
  • Oanda have an international presence in multiple countries. Including local Oanda seminars and training.
  • Oanda can hire people from various locations in the world who can better communicate in your local language.

Oanda Risk Disclosure

Losses can exceed deposits

Trading Risk Disclaimer

Trading financial instruments such as cryptocurrency and foreign currency markets involves high risk and is unsuitable for everyone. When trading on leverage, the potential for loss is significantly higher than when dealing with just your funds. Risky trading leverage allows you to control larger positions with less capital, increasing both the potential for profit and loss.

You will be exposed to a high risk of loss regarding leverage and margin-based trading.

Furthermore, some off-exchange financial instruments and derivatives may offer varying leverage levels and may not be subject to the same regulatory protections as exchange-traded instruments. As a result, they may be subject to higher levels of market volatility and carry a higher degree of risk.

It is important to note that no investment product, technique, or strategy can guarantee profits, and past performance does not necessarily indicate future results. Any investment involves the possibility of financial loss, and it is important to carefully consider your investment objectives, risk tolerance, and financial situation before making any investment decisions.

Trading financial instruments is a high-risk activity that requires careful consideration and risk management. It is important to be aware of the potential for loss and to only invest what you can afford to lose.

Oanda not quite right?

If after reading this Oanda review, Oanda does not fulfill your needs check out these Oanda Alternatives.

Click here to view the best Oanda Alternatives

We have spent years researching the best alternatives to Oanda. Click the links below to learn more.

After extensive research over several years, we have compiled a list of the most effective Oanda alternatives available today. If you are unsatisfied with Oanda or want to explore other options, we recommend checking out our carefully curated list of highly-rated Oanda alternatives. Follow the links below to learn more about these Oanda broker alternatives and choose the one that best suits your trading needs.

Related Oanda Vs Comparisons

Throughout our comprehensive Oanda review, we have covered a lot of ground and provided an in-depth analysis of the platform's features and functionality.

If you're interested in comparing Oanda against other popular brokers in the industry, check out our Oanda Vs pages. Our team has compiled a series of detailed Oanda comparison articles, pitting the Oanda platform against some of the best-rated Oanda competitors in the market. Dive into our informative Oanda Vs pages below to find out how Oanda stacks up against other leading brokers.

Oanda review
OANDA Frequently Asked Questions

Read our detailed Oanda FAQ Section updated for 2024.

Can I try Oanda?

Oanda offer a demo account so you can try the Oanda platform with virtual trading before you put down a payment. Virtual trading with Oanda is zero risk. Learn more here

What funding methods do Oanda accept?

Please note that the list of payment methods below depends on the Oanda Entity and the client's Country of Residence.

Oanda offer the following funding payment methods Bank Transfer, Cheque or Check, Debit cards, Payoneer, among other payment methods.
Learn more here

Losses can exceed deposits

Is Oanda safe?

Oanda have over 10,000 users. Oanda are considered reliable as they are regulated by and checked for conduct by the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC). Any payments funded to Oanda accounts by traders are held in a segregated bank account. For added security,Oanda use tier-1 banks for this. Tier 1 is the official measure of a bank's financial health and strength.Trading with Oanda is risky, and because the market is so volatile, losses could happen at any time. Do not invest with Oanda unless you are prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

Losses can exceed deposits

Is Oanda trading good?

Oanda is considered good and reputable to trade with Oanda. Oanda is used by over 10,000 traders and Oanda users. Oanda offers Forex trading, and CFDs trading. Minimum deposit with Oanda is 1.

Is Oanda trading Legit?

Oanda was founded in United States, Canada in 1996. Oanda has been facilitating trade on the financial markets for over 28 years. Oanda offers clients Forex trading, and CFDs trading. All funds deposited to Oanda are held in segregated bank accounts for security. Oanda is regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC) so can be considered legit.

Is Oanda a good broker?

Oanda allows Forex trading, and CFDs trading. Oanda is overseen by the top tier financial regulators Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC) so can be considered a good broker.

Is Oanda trustworthy broker?

Oanda is a reliable platform that can be considered trustworthy due to its strict regulatory practices. When you fund money to Oanda, money is in a segregated bank account that is separate from Oanda company's funds. As a regulated broker, Oanda cannot directly access your funds, which minimizes the risk of misappropriation or fraudulent activity by Oanda. Instead, your Oanda funds are held securely in a separate account designated for your investments, providing protection and peace of mind when trading with Oanda. Also Oanda is regulated in its local jurisdictions including major financial regulators like Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC).

What is the minimum deposit for Oanda?

The minimum deposit to trade with Oanda is 1.

How long do Oanda withdrawals take?

Withdrawing money from Oanda processing time varies depending on the method but averages 1-5 days.

Is Oanda regulated?

Oanda is regulated by the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC). Regulatory bodies conduct regular reviews and audits as part of Oanda maintaining their regulatory status. You can learn more about these reviews on the regulator websites.

Is Oanda a market maker?

Oanda is a market maker. Stocks, currency and other commodities and instruments will be brought or sold by Oanda even if no buyer or seller is lined up.

How can I start trading with Oanda?

When opening a trading account with Oanda, you will need to sign up here. After completing the necessary steps of receiving login details via email, submitting identification documents for account validation, and making a deposit, the next step is downloading the preferred trading platform. For detailed guidance on Oanda trading platforms, you can follow the link provided below: Learn more about signing up with the Oanda trading platform here. This will provide useful information and insights into the various trading platforms offered by Oanda, enabling you to make an informed decision about which platform to choose for your trading needs.

Is my money safe with Oanda?

Yes your money is safe with Oanda.

Overall, strict financial regulation is essential for ensuring that trading platforms like Oanda operate fairly, transparently, and responsibly, which ultimately benefits all Oanda stakeholders involved.

Trading platforms like Oanda must have strict financial regulation for several reasons:

  • Protecting Oanda Investors: Strict financial regulation ensures that investors who use the Oanda trading platform are protected against fraudulent or unethical behavior by the Oanda platform or its employees. Financial regulation can help to prevent investors from losing their money due to dishonest practices by the Oanda platform.
  • Maintaining Oanda Financial Stability: Strict regulation helps maintain the financial system's stability by preventing excessive risk-taking when using the Oanda trading platform. Regulatory procedures reduce the likelihood of the Oanda platform experiencing financial difficulties or failing, which could have ripple effects throughout the financial system.
  • Enhancing Oanda Transparency: Regulations require trading platforms like Oanda to maintain detailed records and disclose Oanda client information. Financial regulatory requirements enhances transparency and helps to build trust between the Oanda platform and its investors.

Oanda is regulated by the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC). When selecting a broker such as Oanda, one of the most critical factors to consider is the broker's regulatory body and regulatory status. Unregulated brokers pose a direct risk to the security of their client's funds, as they operate without any oversight or regulation. In contrast, regulated brokers are subject to strict rules and regulations that prevent them from manipulating market prices or engaging in fraudulent activities. As a reputable broker, Oanda ensures that withdrawal requests are processed promptly, demonstrating its commitment to transparency and accountability. However, brokers that violate regulatory rules can face the consequences such as losing their regulatory status in specific regions, highlighting the importance of working with a trusted, regulated broker for your trading needs like Oanda.

Is Oanda a con?

Oanda is regulated and well established, having been in business for over 28 years. Oanda is not a con.

Can you make money with Oanda?

Although traders have had great success with Oanda, trading on the financial markets with Oanda is not a get-rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading, your chance of success will greatly increase. Never trade with money you cannot afford to lose. Losses can exceed deposits.

Does Oanda have fees?

Oanda withdrawal fees vary on payment method.Oanda doesn't charge inactivity fees. Oanda doesn't charge deposit fees.

When was Oanda founded?

Oanda was founded in 1996.

How many people use Oanda?

Oanda is used by over 10,000 registered Oanda users.

What is Oanda Headquarters country?

Oanda has its head quarters office in United States, Canada .

Does Oanda offer negative balance protection?

Oanda does not offer negative balance protection. With Negative balance protection, traders cannot lose more money than they have deposited.

Does Oanda offer guaranteed stop loss?

Oanda does not offer guaranteed stop loss. With guaranteed stop loss protection, risk is managed. Traders are guaranteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

Does Oanda allow scalping?

Oanda offers scalping.

Does Oanda allow hedging?

Oanda offers hedging.

Does Oanda offer CFD trading?

Oanda offers CFD trading.

Does Oanda offer STP?

Oanda does not offer STP trading.

How many people use Oanda?

Oanda is used by over 10000 Oanda users and traders.

Is Oanda an ECN broker?

Oanda does not offer ECN trading.

Does Oanda offer a demo account?

Oanda offers a demo account.

Does Oanda offer an Islamic account?

Oanda does not offer Islamic accounts.

What are the funding methods for Oanda?

Please note that funding methods and options available with Oanda can be found in the Oanda Members area and depend on the Oanda clientโ€™s country of residence. Please check your specific available payment methods on the Oanda website. Oanda accept the following funding methods : Bank Transfer, Cheque or Check, Debit cards, Payoneer.

Oanda review written by Andrew Blumer and Mark Hansen

We hope you found our review of the Oanda brokerage firm useful.

This article was written by our financial editors, Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years of experience in financial analysis, forecasting, and financial modelling, identifying new market opportunities in Stocks, CFDs, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

Oanda review written by Mark Hansen of Comparebrokers.co