OANDA’s MarketPulse has a selection of articles in various categories, including trading strategies and technical analysis. TradingView users are pleased that they don’t have to adjust to a new charting platform when trading with OANDA. Its customizable watchlists keep you informed about the assets that matter most to you.
The broker’s dedication to education is evident through its offerings of both beginner and advanced videos, and it’s rated highly for education and beginners. There is also no minimum trade size – you can trade as little as 1 unit of currency – making OANDA ideal for those testing trading strategies with a small deposit. These features make it ideal for novice traders looking to expand their knowledge and skills.
However, residents of China, India, North Korea, and Iran are not accepted. OANDA acts as principal, not as agent, and is the sole venue for executing trades. Clients trade directly with OANDA and not within the underlying market.
Setting up an account and funding said account is really simple and the UI on their website is incredible. Would definitely recommend for anyone wanting to get into trading or someone who has been trading for a while. As an added element of security, OANDA also segregates the funds of clients from its operating capital. All decent brokers would do this anyway, but this also helps prevent misuse of customer funds on behalf of unethical companies.
Research and Educational Materials
Each account provides access to a unique range of asset classes and instruments, with the availability of instruments varying across different platforms. OANDA offers a range of tradable instruments across various assets including Forex, Metals, Commodities, Bonds, Indices, ETFs, Stock CFDs and Cryptos. Spot Crypto in the US is traded through Paxos, a separate legal entity from OANDA, CFDs/ETFs and metals are not available in the US. With transparent pricing and volume-based rebates for high-volume traders, OANDA ensures that both retail and professional traders can benefit from cost-effective trading conditions. Whether you’re a beginner or a high-volume trader, OANDA’s pricing structure remains one of the most competitive in the industry.
It features the same range of standard and advanced order types as the web and desktop platforms. The layout is customizable, so you can see your favorite instruments and adjust the size of the charts to suit your preferences. OANDA Europe Ltd. offers a relatively limited range of markets for swing trading and does not provide real shares and ETFs.
- We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.
- OANDA also offers clients “a powerful and more dynamic trading experience” by partnering with third-party providers MultiCharts, CQG FX, and TradingView.
- Clients in Asia who are willing to make significant deposits may be eligible for a Premium or a Premium Plus account.
- If you are a trader residing in jurisdictions like Australia and Singapore, there is an added benefit of having Guaranteed Stop-Loss Orders.
- The brokerage offers opportunities in popular financial markets, including forex.
It takes into account pricings from multiple liquidity providers (such as banks, hedge funds, etc.) to offer users competitive bid/ask spreads. The pricing is transparent, and the platform displays both the buy and sell prices. Based on our research and analysis, OANDA stands out as a strong candidate for forex traders seeking a well-rounded platform. With a commendable overall endorsement, this broker offers a reliable trading environment complemented by an impressive array of educational resources. These include OANDA Web and OANDA Mobile as their proprietary platform. These platforms are robust enough, however, there’s room to update them and make them more competitive in the industry.
- The only drawback is that you won’t find all of OANDA’s educational materials in one place.
- This means that clients cannot lose more money than they deposited.
- Founded in 2014 and acquired in 2021, BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs.
- On the negative side, while using OANDA we found there is room for improvement in terms of customer service.
- Withdrawals by bank wire transfer, however, do require a fee ($20 per transaction).
A decent selection of tools and features are available and it’s relatively easy to pick up for beginners. Oanda maintains a straightforward, affordable, and highly regulated offering with a wide choice of Forex currency pairs, making it very suitable for beginners. Oanda remains a oanda broker review primary choice across emerging markets with a promising platform to expand globally by improving its international offering. Besides the MT4 upgrade, and services provided by MultiCharts and MotiveWave, Oanda also features technical analysis from Autochartist, an established third-party tool. For her second and third questions, which concerned MetaTrader 4 and OANDA Corporation’s liquidity providers, our tester turned to email and phone support.
Account funding at OANDA
Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering.
While OANDA doesn’t offer the most straightforward Account Opening process, most difficulties were smoothed over by the dedicated account manager. Some brokers reserve account management assistance for high-value or professional trader accounts, but OANDA assigns one to each and every new client. We found OANDA’s customer service exemplary, with multiple layers of support available at any time, anywhere in the world.
Professional support and successful withdrawal – great experience with OANDA TMS
The broker lists its business hours for phone and live chat support as Sunday 4 p.m. OANDA’s representatives were courteous and knowledgeable when they were accessible. As a spread betting fx broker it provides the broking service needed and it uses Trading View platform where all your trading history is viewable. Retail clients trading under OANDA Europe Limited and OANDA TMS Brokers S.A (from the UK and the EU) are also benefit from negative balance protection. This means that clients cannot lose more money than they deposited. When trading with any broker, the safety and security of your account are of paramount importance.
Technical Analysis Tools
The firm’s bank withdrawal fees are high, but this shouldn’t be too big an issue if you only withdraw once a month. There is also a commission plus raw-spread model available for traders who meet the right criteria, which can work out cheaper than standard spreads. Oanda is a globally recognised, retail trading platform, currency data and analytics company. The company was founded in 1996 by Dr. Michael Stumm, and now operates across the globe in over 196 countries. No, it does not require a minimum deposit, which makes it accessible for traders of all levels. Yes, OANDA is one of the most reliable forex brokers in the industry.
In all cases, OANDA Corporation acts as a market maker, which means the broker may sit on the opposite side of some trades. While this does guarantee that your order will fill, it can also lead to slightly wider spreads than with brokers offering STP or ECN-style execution. Today, OANDA ranks among the world’s major fintech companies, allowing clients to trade various financial instruments, streamline their global financial transactions, and conduct market analytics. All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go.
Whether you’re traveling or need to make an international payment, OANDA’s currency exchange service allows you to do so at competitive rates. If OANDA’s desktop platform doesn’t appeal, you have the option of the MetaTrader 4 (MT4) download, web-based solution, or mobile app. The industry-standard platform offers advanced charting, watchlists, plus trade automation via an ‘Expert Advisor’ (EA) plugin. VPS hosting for automated trading solutions is also available, and Oanda has an API, allowing third-party developers to connect advanced trading solutions to the Oanda infrastructure. The trading tools at Oanda ensure that traders have a competitive edge in financial markets. Obviously, OANDA Corporation’s extensive licensing and regulatory compliance contributed to the high score.
Still, we were equally impressed by the competitive trading costs, risk management tools, educational resources and accessible customer service. OANDA provides a diverse selection of trading platforms and tools. With a strong recommendation for its platforms and tools, traders can benefit from both MetaTrader 4 and 5 and a proprietary platform designed to cater to various trading needs. OANDA shines in the area of research, offering industry-leading analysis via the MarketPulse website. Launched in 2006 by a team of experienced market analysts, MarketPulse publishes insightful commentary daily with full-time coverage of the world’s largest financial markets.