Oanda Forex Broker
| Company | Oanda |
|---|---|
| Established in | 1995 |
| Online since | 1997 |
| International Offices | Canada, Japan, Singapore, Switzerland, United Arab Emirates, United Kingdom, United States |
| Payment Methods | Check, Credit/debit cards, PayPal, Wire transfer |
| Demo Accounts & Platforms | Oanda Platform |
| Account currencies | Australian dollar, Canadian dollar, Euro, Great Britain pound, Hong Kong dollar, Japanese yen Singapore dollar, Swiss franc, United States dollar |
| Regulated & Registered by | CFTC/NFA, FSA (Japan), FSA (UK), Kanto Local Finance Bureau (Japan), |
| Are US Traders allowed? | Yes |
| Bonus? (detailed) | |
| Languages in which website is available? | Chinese, English, French, German, Italian, Japanese, Korean, Portuguese, Russian, Spanish |
| Languages in which Support is available? | Chinese, English, French, German, Italian, Japanese, Korean, Portuguese, Russian, Spanish |
| Different Support methods? | Email, Live chat, Phone, Web form |
| Types of Account (micro standard executive islamic) | Oanda |
| Minimum deposit in accounts | $1 |
| Minimum position size | 0.00001 lot |
| Type of Spread? | Fixed |
| Minimum spread on EUR/USD, pips | 1.2 |
| Is Scalping Allowed? | - |
| Types of Trading Instruments (GOLD; CFD, etc. and the leverage) | Forex – 1:50, Gold & Silver – 1:50, CFD – 1:50 |
| Real Trading platforms | MetaTrader 4, Oanda Platform, Web Trading |
| Digits after the dot in quotes | 5 |
| Margin call level | 2% |
| Stop-out level | |
| Total Number of currency pairs | |
| Any Bonus offers | 72 |
| Affiliate program Available? | Yes |
| Facility of Overnight interest rates (swaps) | Yes |
| Do they have Trailing stop? | Yes |
| Do they have Pending orders? | Yes |
| Mobile trading allowed? | Yes |
| Browser-based platform present? | Yes |
Oanda Forex broker is one of the largest brokerage companies with highest number of customer base around the globe. The company was established in the year 1995 and has been into internet based online trading service from the year 1997. The company was well regulated by CFTC/NFA in USA, FSA in Japan, and FSA in UK and by Kanto Local Finance Bureau in Japan and this increases their reliability. They have many facilities like interest rate on funds. They also conduct trading contests time to time which help the traders indulge in activities other than forex trading. Training material, videos and webinars are also provided to the customers for free. They also offer segregated and managed accounts to their traders. Various other facilities include trailing stops, pending orders, one click trading, mobile trading; browser based trading and automated trading. The payment options are few but it includes PayPal along with wire transfers and debit and credit cards. They have their offices in 7 countries including United States. They allow 9 different currencies in the account of the trader.
The demo account is offered along with the real trading account and the trading platform provided is Oanda for demo account whereas the real account has Meta Trader 4 and web trading platform as well. Their website as well as the customer support service are multilingual and are available in 10 languages. The customer support service is excellent and the support staffs are very friendly and well trained to handle any trade related query. The minimum deposit required to open an account with them is only $1. The spread on the trade is fixed and hence the trader is aware of the cost of placing the trade. The use of Expert Advisor while doing the trade is forbidden. The leverage on the trading instruments is only 1:50.
Oanda has a wide base of loyal customers who have stayed with the company from a long time. This shows that the service provided by the company is excellent. The most liked feature of the company as mentioned in some of the reviews is that they have about 72 pairs of currency to trade in and it includes all the major pairs and also a few exotic pairs. Their in house trading platform Oanda is lauded for its performance and is very fast. Their website is multilingual and has all the details which traders might need to know about trading. Their customer support service is liked and loved by many as it is available in many languages and they are well trained to handle queries of any order. A few cons of trading with them is that they have forbidden the use of Expert Advisor. The payment options are very limited but PayPal being one of the options is liked by many. However, they allow trading in 72 currency pairs which is liked by many. The overall review of the company is very good and the average rating given to the company by its users is 5.6 out of 10.