About company:
OANDA is considered one of the pioneers of the online trading market in the world. The company was founded by professor of computer science Michael Stumm and econometric researcher Dr.Richard Olsen in 1996.
Trading platforms
There are two trading platforms available for trading - MetaTrader4 (MT4) and FXTrade WebTrader.
FXTrade has a simple yet efficient interface, and more importantly, fast execution speed. According to the OANDA website, trades on the platform are executed in less than 1 second. The terminal is equipped with charting functions, traders can also check their trading strategies, read financial news and market analysis from leading news providers.
In addition, OANDA offers the popular MetaTrader 4 platform, which is highly regarded in the industry for allowing traders to fully automate their trades.
Tech-savvy traders can build their own automated trading system using the OANDA FXTrade API.
Trading conditions
The line of trading assets includes currency pairs, indices, commodities and bonds, CFDs and precious metals.
The good news is that OANDA does not set a minimum deposit for opening an account, leaving traders to decide. This is especially attractive for those merchants who are not willing to invest large sums of money. The company has a single trading account.
Commission and spreads
This broker offers floating spreads. For EUR / USD, the spread is 1.4 pips overall, which is the industry average. Index spreads start at 0.5 pips.
Customers can, however, benefit from free trading fees and OANDA does not charge fees for its trading services or account maintenance. The broker earns from the spread.
Education and analytics
Traders can learn through video training, sign up for online seminars, read the latest financial news, expert trend analysis. In addition to this, an economic calendar and a number of Forex articles are available, which will be of interest to both beginners and professional traders.
Customer support
Support is available 24/7 from Sunday (1pm EST) through Friday (6pm EST). For more efficient communication, clients are invited to choose a product with which they have difficulties in their work, and then the trader will be automatically connected with the necessary specialist.
You can ask your questions by phone, e-mail, fax, chat or visiting one of the offices in the USA, Canada, UK, Tokyo, Australia, Singapore.
Reliability
OANDA is regulated in six different countries by local authorities - NFA, CySEC, ASIC, CFTC, MiFID, FCA.
Conclusion
The broker's popularity among traders is explained by the possibility of automatic trading, the absence of requirements for the minimum deposit and trading volume.
Broker pluses:
variety of trading platforms; no requirements for a down payment; no restrictions on the minimum transaction size; no commission for maintaining the account.
Cons of the broker:
is a market maker; small leverage.
FAQ - BROKER QUESTIONS OANDA
- Do trader reviews affect the rating of OANDA?
- How to leave a review about OANDA on the ita.promo website?
To leave a review about the broker, scroll down the page, enter a valid email and your review with an overall rating. Reviews are moderated and tracked by the number of comments left from one IP or email. The site's technical support may request real documents proving that the user was or is a client of the broker. This rule applies to both negative and positive reviews. We want our portal to be honest and independent.
- Can the broker OANDA be considered honest?
Before any trading and choosing a broker, you should always read reviews on our portal, as well as on other resources. Brokers that are honest have a rating above 3.8. There is also always a risk of losing investments when trading CFDs. Be careful and read the risk warning on the broker's website. OANDA received a rating of 1 out of 5 on our resource.
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