Oanda

Highlights

• Award-winning platform
• Innovative analytical tools
• Solutions for business

Pros

• Fast deposit and withdrawal option
• Low fees
• Innovative tools

Cons

• Customer service is average
• Withdrawal fee is high

Main Features

Country of Regulation: USA, UK, Australia, Singapore, Canada, Japan

Trading Fees: Low

Inactivity Fees charged: Yes

Minimum Deposit: $0

Products: Forex, Commodities, Bonds CFDs, Index CFDs, Metals, Currencies, Indices

Review

Fees

Oanda charges low forex fees, CFD fees, and non-trading fees. The Withdrawal fee is quite high for bank transfers.

A/C opening

The account opening process at Oanda is fully digital and requires no minimum deposit. Oanda offers only one type of trading account (in addition to a demo account) but you can open up to 19 sub-accounts.

The account can be opened through 4 steps online registration process through account verification may take a few days.

Deposit & withdrawal

The Deposit at Oanda is free and you can choose from 9 base currencies. It provides a lot of options for deposits and withdrawals.  

At Oanda Withdrawal is free in most cases but it is expensive for bank transfers. Withdrawal is free for PayPal and for the first debit card transaction each month. To withdraw the funds you have to visit the Oanda portal and check the various time estimates for different methods.

Trading Platform

The Oanda trading platform has 2 step login and the interface is user-friendly and clear. It is available in several languages and looks great. Oanda offers two trading platforms i.e Oanda’s own platform or MetaTrader 4  a third-party tool you can choose between two platforms. The trading platform customizability is good.

Research

Oanda research has interactive charts and a wide range of research tools such as news, technical analysis, and API. It does not provide fundamental data.

Customer service

You can connect with the Oanda customer service through email, phone, and Live chat.