A TopBrokers360 OANDA Review for 2023
Your One-Stop Trading Platform
OANDA is a global online FX and CFD platform that was founded in 1996 and is headquartered in New York. This investment broker from the USA has set out a mission to become a leader in the world of online trading. Their goal is to cater to the needs of traders who are primarily focused on investing in the global markets.
This company is held to high standards, as it is regulated by multiple financial authorities across the globe, such as the Financial Conduct Authority (FCA) in the UK, the Commodity Futures Trading Commission (CFTC) in the US, and the Australian Securities and Investments Commission (ASIC) in Australia.
Traders can trust that this company will meet their expectations due to their strong regulatory oversight and commitment to compliance.
Pros and Cons
Pros:
- Advanced Loyalty Program
- Demo Account
- Transparent Pricing Model
- Bonuses Scheme
- Advanced Financial Platforms
- Impressive Array of Economic Analysis
Cons:
- Does Not Offer “Negative Balance Protection” for U.S. Clients
- Charges a Monthly Inactivity Fee
Platforms Tailored to the User Experience
Image source: OANDA Trading Platform
This particular FX broker provides a range of trading platforms that are widely regarded as some of the best available. Traders can choose from three different options, including the well-known MetaTrader4 (MT4), the award-winning OANDA custom-designed Web Trading Platform, or TradingView.
For traders who prefer a familiar platform, the MT4 is the go-to choice for trading. By upgrading to an MT4 premium account, traders can gain access to a variety of enhancements such as additional indicators and expert advisors (EAs) like mini charts, OCO orders, and tick-charts.
Users are also able to use their accounts on TradingView’s platform, which combines TradingView’s community features, robust charts, and analytical tools. Alternatively, those who prefer OANDA’s custom-designed Web platform can access advanced charting solutions and a suite of technical analysis tools.
Furthermore, traders no longer have to suffer from the stress of trading forex and popular cryptocurrencies thanks to OANDA’s user-friendly, award-winning mobile app. The app allows traders to access instant quotes and free charting, as well as tight spreads and fair commissions.
- Fast Trading Times
- Advanced Technical Analysis
- Market Activity in Real-Time
- Customize Chart Sizes
- Price Signals
- More Than 50 Technical Tools
- Trigger Actions
Gain Entry to Frequently Traded Currency Pairs
➟ Simplify Trading in Popular Cryptocurrencies with a user-friendly app!
OANDA provides trading services that cater to the requirements of traders who deal in a variety of preferred FX and Cryptocurrency products. With an assortment of over 70 forex pairs, such as EUR/USD, USD/JPY, GBP/USD, GBP/AUD, and GBP/CAD, traders can also access a reasonable number of Crypto trading Instruments.
For traders keen on trading Bitcoin or Ethereum, the OANDA platform is a decent choice. CFDs are not available for residents in the United States.
CFD Instruments:
- Access over 120 CFD instruments, including more than 70 forex pairs.
Currency Pairs:
- Open a position on major, minor and exotic currency pairs.
EUR/USD & EUR/GBP:
- Trade EUR/USD and EUR/GBP from 0.8 pips.
Cryptocurrencies:
- Buy Bitcoin using the OANDA mobile app, with commissions as low as 0.25%
Spreads:
- Competitive spreads across a range of CFD products, including indices, forex, cryptocurrencies, commodities, metals and bonds.
Explore OANDA’s Diverse Account Choices!
Customize Your Trading Journey with 2 Account Types to Choose From
When it comes to a beginner or a seasoned trader, the broker’s two different account types are designed to cater to their individual needs and trading experience. With up to 70 FX pairs on offer, traders have ample forex options to develop their portfolios.
For traders looking to take their trading to the next level, OANDA’s higher-tier accounts come with a dedicated account manager. This experienced professional can provide personalized support and guidance.
The broker is also packed with exciting features to help and the Advanced Trader loyalty program, for example, offers advanced tiers and cash rebates to reward traders for their trading activities.
Image source: OANDA Trading Accounts
Image source: OANDA Advanced Trader Program
Dedicated to Regulatory Compliance
Additional details on OANDA’s licensing, regulations, and legal documents can be found here.
OANDA is a trusted and reputable broker with a strong commitment to regulatory compliance. The company holds licenses from prominent financial regulators, such as the FCA in the UK (No: 542574), CFTC in the US, ASIC in Australia (No. 412981), and IIROC in Canada, among others.
As a registered Futures Commission Merchant and Retail Foreign Exchange Dealer with the Commodity Futures Trading Commission, OANDA is a member of the National Futures Association (No: 0325821) which serves as an additional layer of oversight.
Traders’ personal and financial information is safeguarded through advanced encryption technology, and strict KYC and AML procedures are in place to protect the security of their client’s accounts. Traders can rest assured that OANDA is a broker dedicated to regulatory compliance and security measures that provide a safe and secure trading environment.
Get in Touch with the OANDA Support Team
OANDA strives to provide outstanding customer service to its clients through its client support center, which is manned by a team of skilled professionals who are always available to assist traders with any queries or issues.
Additionally, the broker offers an advanced and innovative Help portal that provides traders with all the assistance they need.
Image source: OANDA Help Portal
OANDA’s cutting-edge tech and trailblazing features have earned it numerous prestigious awards in recognition of its innovative spirit.
Image source: OANDA Trading Awards
