Oanda | Review | CFD Trading Platform

Oanda | Review | CFD Trading Platform

Oanda | Review | CFD Trading Platform Review

Our Review

 

What is Oanda?

10 points summary

How Protected are you with Oanda?

Awards

Is Oanda Scam or Safe?

Account

Trading Instruments

Trading Platforms

Trading Fees

Deposit and Withdrawal Options

Education

Customer Support

Conclusion

 

 

What is Oanda?

Oanda, together was founded by Dr. Sumr and Dr. Olsen in 1996, advertised that he did "all matters of currencies," from the conversion of currencies to provide FX data services for businesses to offer global online brokerage services established to individuals who are trying to trade the FX and Retail CFD market.

 

Oanda offers client exposure to various financial instruments but is very suitable for experienced traders who are looking for a Star desktop trade experience. Product offers vary by region. For example, clients can only exchange FX, but brokers offer fast and reliable trade execution, research resources above industrial norms, functional user interfaces, and verified regulatory control traces.

The website is well organized with the aim of transparency, emphasis on client education and research, several user interfaces, and the OYANA global regulation surveillance place at the top level of online forex brokers.

 

Pros

Cons

Accepts U.S. clients

Deposit and withdrawal fees

Regulated by FCA and NFA

Only two base currencies available

Well-designed platforms

 

 

OANDA Review


 

10 Points Summary

Headquarters

USA with official entities in Canada, UK, Japan, Singapore and Australia

Regulation

CFTC, NFA, FCA, MAS, ASIC, IIROC

Platforms

Oanda trade, MT4

Instruments

Forex and CFD trading, over 100 instruments, including currency pairs, indices, commodities, bonds and metals, futures trading, commodities futures

EUR/USD Spread

1.2 pip

Demo Account

Available

Minimum deposit

No minimum requirement

Base currencies

EUR, USD, GBP, AUD, CAD, CHF, HKD, JPY, SGD

Education

Education materials designed by the level

Customer Support

Available 24/5

How Protected Are You with Oanda?

All customer funds, according to regulations are stored in the top level account level and are fully separated, and protected by negative balance protection. In the trade process, Osa manages currency and risk exposure when using risk management technology, which is the client position of the aggregate client automatically and anonymously, the aggregate position above which has been shall be sheltered immediately.

 

Pros

Cons

Regulated by IFSC 

Regulatory regimes differ in each jurisdiction thus offer

Negative balance protection

 

Hedging available

 


 

Awards

Oandastarts its organization to provide transparent trading to its user, and it proved it. Last year in 2020, Oandawas awarded as the Most Transparent Broker – 2020 by International Investor Awards.

In addition, OANDA's commitment to democratize the global financial market has been recognized throughout the publication and industrial organization with a double award in the industry. Oanda clients have also chosen the company as number one in customer service, or the value of money and overall client satisfaction on an annual basis.

Is Oanda a scam or safe?

Oanda Corporation is actually very regulated and authorized by various government institutions because of its global presence and coverage of various jurisdictions.

 

Oanda divided by geographical areas and includes the US, Canadian, European, Asia and Australia markets are also regulated and authorized by each particular institution that oversees the trade business. Of course, regulatory regimes and requirements in each jurisdiction are slightly different but all obey the same customer protection and transparency goals in market offers.

In simple words, licenses and follow the regulations which means that the broker adheres to international standards that examine the sustainability of the company before its launch, regularly during its operations and even includes client funds if the company's bankruptcy occurs with the specified limit.

 

Or even more simplified, the company regulated is a company that has the potential to be safe to trade, because every step and actions are very large and fulfill operational guidelines.


 

North Korea

United States of America

Indonesia

Canada

Islamic Republic of Iran

Belize

Indonesia

Account

Account management is well organized because we find through our ODA review, where all transactions and activities are visible through online account areas, while there are various basic account currency that allows you to get safe conversion fees.

 

For Oanda there is no difference between the client, that's why brokers are no different from the type of account and only displays one type of standard trading account. However, clients switch to premium clients on a minimum deposit of $ 50k and get sewing requirements, special prices and more strict spreads.

 

All accounts support the same base currencies: USD and EUR. Protection of negative balance and hedging is also available on all accounts.

Oanda account opening


 

Pros

Cons

Islamic account available

None 

Demo account for practice is also available on an unlimited basis

 

Three live account types are available

 


 

Trading Instruments

Futures trading is only available in several regions so be sure to verify this info, while the cost conditions are usually based on commissions per trade. In addition, commodity futures trading or others will require to use certain advanced contracts where quotes are available, what information can also be found through research resources provided.

 

In his offerings, the OSA broker is a leader in currency data, offering various advanced instruments and includes forex and CFD trades, more than 100 instruments, including currency pairs, indices, commodities, bonds and metal futures. It also offers FX payments companies and exchange rate services for various organizations and investors.

Pros

Cons

Wide range of instruments

CFD instruments are highly risky

Both Forex and CFD instruments are available

 

Commission fee over instruments is zero

 

 

Oanda spread


 

Trading Platforms

In general, Olanda Technology offers and software aims to build themselves around the appropriate approach to protecting clients and their trade, therefore adhering to more stringent spreads and platforms specifically across the supply and automation of premium trading strategies.

 

No one will debate that execution is very meaningful in trading, and in Oanda you can enjoy a new proprietary V20 execution machine that runs trade only in milliseconds.

Web trade

As a mainstay of ODA uses the exclusive platform of ODA trading, which can be classified as 'easy-to-use trade functionality' and has won many awards along with many of the highest traders.

 

The ODA platform supports web trade, desktop trade, and cellular trading applications, while web trade allows easy access through any browser.

 

Desktop Trading Platform

Full suits and strong abilities, of course, are available through the desktop platform where Olanda trade web provides access to trade functionality trade, including advanced chart tools, graphical pattern recognition, institutional quality backtesting, and financial news flows from service providers.

 

Overall, the platform can indeed be classified as the best in its class and will definitely be enjoyed by various level traders.

Pros

Cons

Available in different languages

No bonuses 

Offers two popular platforms, cTrader, and MT4

 

 

Oanda platform


 

Trading Fees

ODA trade proposal leads to more than 100 instruments including currency pairs, commodities, indices, bonds and metals without the requirements of minimum deposits or trading sizes, no additional commissions, with costs only based on deployment, which with the fact is quite competitive.

 

OYA Spreads are calculated through the ODA platform connected electronically to many global banks that access the most accurate foreign exchange rates and CFD levels if you trade forex or CFD instruments. Below you can see the average spread on the most traded instruments, and instantly from direct quotes.

 

Regardless of direct quotes, you can find information about historical deployment on certain assets or instruments, which can be very useful for you to understand the price policy of Olanda and get knowledge about how the spread is influenced by fluctuating market conditions.

 

Pros

Cons

No rollover fees

The tax applies if the deposit or withdrawal amount is less than $200 

No inactivity fees

 

No additional charges over products and stocks

 

Bonuses available

 

 

OANDA Review: 3 Key Findings for 2021 - ForexBrokers.com



 

Deposit & Withdrawal Options

An important question about transferring money to and from a trading account displays a slight difference in accordance with the residence of the merchant and where your ODA entity holds an account. This is a fact, various jurisdictions because taxes and laws allow several payment methods, while others can be forbidden to use.

Deposit option

There is a deposit method available on Oanda, but be sure to verify the conditions that match your residence and certain rules, you will automatically fall according to the rules.

 

US client options offer bank transfers and payments with credit cards, checks, and automatic clearing houses - at no cost, prepare that your bank can charge performance service fees. Canadian clients: bank wire transfers and paypal (only CAD).

European clients can use credit / debit cards, swift wire transfers, PayPal (GBP, USD and EUR), BACS and CHaps (only GBP).

Asian Pacific traders are eligible to use DBS payment bills, internet banking transfers, bank transfers, paypal (only SGD), check (only SGD), China

Australian clients who allow credit / debit cards, internet banking transfers, bank transfers, Paypal, BPay, China UnionPay.

Withdrawal

Just as with deposits, withdrawal policies vary based on the company's division. Most frequent transactions are carried out through bank transfers or wire transfers, or credit cards with $ 0 withdrawal fees for the first demand in a month.

However, if you want to attract more funds, it might apply extra for various jurisdictional costs. See examples of fees for Australian clients.

How do I withdraw money from Oanda?

All money management is done through an online account area, where you can send a withdrawal request through guided steps, also view the cost report and account history.

Education

If you are new to trading, you might be interested in Oanda too, because brokers provide educational materials and webinars designed by the level of experience starting from the expert level.

Various trading tools include analysis reports and further graphics that are powered by the trade display, you can also rely on economic overlays and other important research tools that are very useful for your successful trade experience.

Customer Support

One thing to be mention here is that, even though Oanda customer service is not available 24/7, but still, Oanda is known as the Best Customer-Centric Broker.

 

The customer support of Oanda is available 24/5. It means you can have their services from Monday to Friday. The broker is off on weekends. 

 

Live chat service is also available on the official site. Agents from countries like Singapore, Chile, Belize, Cyprus, and UAE are available to handle the call requirements.

 

Pros

Cons

Best customer support system

Not available 24/7 

Fast in response

 

Support live chat agents

 



 

 

Conclusion

Overall, through attractions and attractive ODA features such as no minimum deposit, price transparency, technical optimization and various tools, became clear why brokers gained high trust and popularity among trader communities.

The fact that the company stands up and operates with a strong background of reliable and successful cooperation with "Global Business Giants" certainly adds to other advantages to Oanda.

What we like is not to mention the number of developments and patterns carried out by OANDA in technical instruments and the impact on the trade process. And finally, but not a few approaches to active users, because of smart management of risk.

Alternative forex brokers are the Avatrade and FP markets which also have a strong license and carry out interesting trading conditions.

Frequently Asked Questions (FAQs)

What are the types of accounts offered by Oanda?

Standard, Nano, and the Max account are the three types of accounts offered by Axiory.

 

Does Oanda charge deposition and withdrawal fees?

If your transaction is less than $200, then yes, Oandadoes charge on each deposit and withdrawal.

 

Who regulated Oanda?

The International Financial Services Commission (IFSC) regulates Axiory.

 

Does a client from the US can trade with Oanda?

No, Oanda does not take clients from the US.

 

What is the minimum deposition requirement of the Oanda?

The minimum deposit required by Oanda is $50.

 

Oanda | Review | CFD Trading Platform

Oanda | Review | CFD Trading Platform Licenses:

Oanda Australia Pty Ltd diatur oleh Australian Securities and Investment Commission ASIC (ABN 26 152 088 349, AFSL No. 412981)

Leverage:
1:100

Regulation:
Financial Conduct Authority (FCA), (ASIC)

Min. Deposit:
1$

HQ:
United States, Canada

Platforms:
MT4, Oanda fxTrade

Found in
1996

Write a comment on Oanda | Review | CFD Trading Platform