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 broker that provides online trading services in foreign exchange markets. Founded in 1996, it aims to provide reliable and easily accessible trading platforms 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 ask whether Oanda is good, you should start by considering the registration and license factors first. 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.

⚠️Warning:Each license is valid only in the area where the issuing authority has jurisdiction.

Brokerage products and trading platforms

Trading products

• Forex 48 currency pairs

• Cryptocurrency 18 coins

• 795 shares

• Index 18 Index

• 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 has a complete range of functions for trading. It can be used on Windows, MAC computers and Android, IOS mobile phones.

• 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. It allows you to trade all your accounts instantly with a single login. It is available on 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

⚠️Warning: As for the minimum amount to open an account, the broker's website does not provide any details, so it is necessary to ask the customer support again.

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 clients.

• Head office location

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

• Contact channels:

  • telephone number:+44 02031512050

  • Email:frontdesk@oanda.com

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

Overview Summary: Is Oanda a Good Broker?

Oanda is a broker with a long history and is widely recognized with its regulation from leading authorities. It is an attractive option for traders who want reliability and a wide range of trading tools. In addition, Oanda's customer service is also highly rated and offers support to traders in several languages.

However, for traders looking for more specific commodities or indices, Oanda may be limited in some areas and lacks important information such as account opening minimums. In addition, the education and training system may not be suitable for beginner traders who need more accessible help and advice. Overall, Oanda remains a quality broker that is suitable for traders of all experience levels. It is important to consider your own information and needs carefully before deciding to use the service.

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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 on the broker that suits your needs.