Oanda

Oanda Review: Is Oanda a Good Broker?

Broker overview and general information

Oanda is a trading name of OANDA Corporation, a long-established forex brokerage firm specializing in online trading in foreign exchange markets. Founded in 1996, Oanda aims to provide a reliable and easily accessible trading platform for global investors. It is headquartered in the United States and has offices in several countries around the world.

Licenses that brokers have obtained

If you're asking whether Oanda is good, you should first consider its registration and licensing. The broker has the following licenses:

• British Virgin Islands Financial Services Commission (BVI FSC) License No. SIBA/L/20/1130 under OANDA GLOBAL MARKETS LIMITED.

• Australian Securities and Investments Commission (ASIC) License No. 412981 under Oanda Australia Pty ltd.

• National Futures Association (NFA) License No. 0325821 under OANDA CORPORATION.

• Financial Conduct Authority (FCA) License No. 542574 under OANDA Europe Limited.

Brokerage trading products and platforms

Trading products

• Forex 48 currency pairs

• 18 Cryptocurrencies

• 795 shares

• Index 18 indexes

• 10 types of commodities

• metal

Trading platforms and tools

OANDA offers three trading platforms: MetaTrader 4, MetaTrader 5, and the fxTrade app.

• MetaTrader 4:MetaTrader 4 or MT4 is the world's most popular financial market trading platform. It offers comprehensive trading functionality and is available on Windows, MAC computers and Android and iOS mobile devices.

• MetaTrader 5:MetaTrader 5 or MT5 is a trading platform developed from MetaTrader 4. It has more tools and a more modern and user-friendly interface than MetaTrader 4.

• fxTrade:fxTrade is a trading application created by OANDA that allows you to trade all your accounts instantly with a single login, available for both Android and iOS.

Oanda account types

Standard Account

• Starting spread: 0.8 pips

• Commission: None

• Platforms: MT4, MT5, fxTrade

• Suitable for: All traders

Main account

• Starting spread: 0.1 pips

• Commission: $40/million

• Platforms: MT4, MT5, fxTrade

• Suitable for: Expert Advisors (EA), Short-term traders, High-frequency traders.

Premium account

• Starting spread: 0.8 pips

• Commission: None

• Platform: MT5, fxTrade

• Ideal for: High-volume traders

Office location and contact channels

The broker is headquartered in the United States and has offices in several countries around the world to provide comprehensive and convenient services to its clients.

• Head office location

  • 17 State Street, Suite 300 New York NY 10004 USA

• Contact channels:

  • telephone number:+44 02031512050

  • Email:[email protected]

  • Website:https://www.oanda.com/bvi-th/cfds/

Overview Summary: Is Oanda a good broker?

Oanda is a well-established and widely respected broker with strong regulatory authority. It is an attractive option for traders seeking reliability and a wide range of trading tools. Oanda's customer service is also highly regarded and offers support in multiple languages.

However, for investors looking for more specific commodities or indices, Oanda may be limited in some areas and lacks key information, such as account opening minimums. Furthermore, its education and training programs may not be suitable for beginner traders who need more accessible support and guidance. Overall, Oanda remains a quality broker suitable for traders of all experience levels. It's important to carefully consider your own needs and information before deciding to use its services.

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Oanda Review Compare spreads, fees, trading platforms, deposit and withdrawal conditions, and more with real user reviews to help you decide which broker suits your needs.