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OANDA

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8.0
(165 Reviews)

Founded: 1996 Min Deposit: 1 USD

Headquarters: Toronto, Canada Max Lev: 1 : 200

Risk Level I

Has been marked as a suspicious website by the HKSFC.

Score
Business Scope
7.9
Trading Cost
7.4
Trading Platforms
7.5
Support
7.9
Licence Status

operate with a few regulation licenses

ASIC 412981
FCA 542574
IIROC
Authorised
Authorised
Authorised
Contact
+44 02031512050
frontdesk@oanda.com
Multilingual Support
Long-established
Leverage Limit
Hedging Not Allowed
Multi-regulation
Commodities Trading
Tight Spread
Deposit/withdrawal Problems
Nicole
2022-12-22
I like this platform very much because I can choose to display important news. I mean the news- is about to be released on the chart. I can adjust my position to a tight level.
Alex Verbitskiy
2022-12-16
I think OANDA is one of the best and most trusted market makers around, and it is especially suitable for beginners to trade with OANDA because the broker has an user-friendly and flexible platform. Open-close and modify orders, SL and TP are indeed very simple and clear. The customer support is always very friendly and resourceful. Faithfully recommend!
Mikka Litmanen
2022-12-12
I stayed in Oanda for about a year. Oanda's trading platform is often frozen. I lost the connection to my trading account during the transaction. Even though I can successfully access other websites and log in email, I have encountered connection problems.
Rayn M
2023-01-04
Opening an overseas account in OANDA can be painful, but overcoming these obstacles, you will know it's the best broker. Their platform is not such easy or as powerful as I want, but their response time is very short. In case of trouble, their chat room is always ready, fast and reliable. The spread is really good. In the end, I gave OANDA 4 stars just because they lack a programmable platform.
Robert Dowl
2023-01-26
My experience in trading with Oanda is very comfortable. There are many features on the website, and if you have a real account, you can access a huge database of historical prices. I use automated trading strategies and need to back-test the history, so I need high-quality data, which can be found on the website.
Daniel Richards
2023-01-28
I think Oanda is the best, top and greatest foreign exchange broker in the world. I think it's only suitable for serious traders. I have been trading with this broker for nearly 2 years and I have accumulated $2m. Highly recommend.

Deposit and Withdrawal

8.0

Very Good

Minimum deposit and no deposit fee

Features

Low Minimum Deposit

See more
See more

Company and Service

7.6

Good

Many branch offices in different countries

Features

Multilingual Support
Long-established
Profile
Headquarters Address
370 King Street West 2nd Floor Box 60 Toronto ON M5V 1J9
Founded 1996
Broker Type
MM/DD
Time Zone GMT+2
Credit Profile No information
Trading Platforms
MT4
Windows,  iOS,  Android
Contact
No Data
Others
FIFO
Website Language
Chinese,  English,  French,  German,  Italian,  Japanese,  Korean,  Portuguese,  Russian,  Spanish,  Vietnamese
Customer Service By
Phone,  Email,  Live Chat,  Facebook,  Twitter,  Instagram,  Youtube
Supported Language
Chinese,  English,  French,  German,  Italian,  Japanese,  Korean,  Portuguese,  Russian,  Spanish,  Vietnamese

Overall Score

8.0
165 Reviews

Cost 7.4

Platforms 7.5

Deposit & Withdrawal 8.0

Customer Support 7.9

Indicates the average level of Brokers

Keywords for selection
Trading Problems Hedging Spread Widen Advanced Trading Platform Low Spreads Reliable & Reputable Unstable Server Connection Terrible Deposit/Withdrawal Transfer Fees High Swap Fee Low Leverage Deposit/Withdrawal Problems Complicated Registration Process Dissatisfied Regulated & Licensed

165 Reviews Clear filter

NickForex
1-3 years Personal Account United States of America
I have been with Oanda for about 1 year. I like them very much, never had a problem with them. I can withdraw money anytime, and in any amount and the mt4 platform works very nice. It's regulated in the US so that's also peace of mind
2024-11-01
Reply
Erick Castellanos
0-6 months Azerbaijan
I've been trading with OANDA for several months, and it's been a great experience. The platform is intuitive and offers a wide range of trading tools. The customer support team is always prompt and efficient in resolving any issues. I also appreciate the transparency in pricing and the educational resources available. OANDA is definitely a top choice for traders of all levels!
2024-09-27
Reply
Ade
7-12 months Ethiopia
I like this platform very much because I can choose to display important news. I mean the news- is about to be released on the chart. I can adjust my position to a tight level.
2024-09-24
Reply
andenade
7-12 months Hungary
I have a long and prosperous relationship with Oanda and I still consider them as one of the best and most trustful market makers around. Especially ideal for beginners because of the user friendly platform and flexible position size (0.0001 lot I think). Its really simple and evident to open-close-and modify your trades, orders, SLs and TPs. They are improving as well adding new things to trade with besides currencies. There custumer support is class above, always been very friendly and resourceful. Only disadvantage is the wide spreads during weekends, the relative low leverage and that due to their NFA membership they don't allow hedging. For the european division there is no FIFO rule. Some strategies might be affected by these factors.Faithfully recommended!
2024-09-06
Reply
Ray
1-3 years Professional Account Indonesia
Good experience overall, quick withdrawals and genuine customer service
2024-09-05
Reply
Manzi Emery
0-6 months Canada
Kept asking me for the same documentation after I had send it already. After the third time I pulled my funds. I do not recommend for Canadians
2024-09-02
Reply
Zack
7-12 months Egypt
Total rubish. S L I P P A G E !!! Beware
2024-08-30
Reply
Egor
1-3 years Hungary
I like the platform which has an option to show you on the chart when important news will be released. You can size your position real tight.
2024-08-28
Reply
Heinrich
7-12 months Balitmore
Oanda are thieves. They may say the spreads are small, but they charge interest on every one of their trades, except for going long on AUD. If you go long EUR against the USD, you pay negative interest. If you go long EUR against the JPY, you pay negative interest. Long EUR against the Swissie, you pay negative interest.It is a backdoor way to steal your money, very underhanded, and should be actionable for misleading trade practices.
2024-08-23
Reply
Malvin
1-3 years Egypt
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.
2024-08-14
Reply

1-10 of 165 comments

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