OANDA – Forex Broker Review and Customer feedback

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OANDA Review

Established in 1996, OANDA is a USA forex and CFD broker offering strengths such as the choice of a spread-only or core pricing with spreads from 0.1 pips and the choice of the MT4 or OANDA forex trading platform while weaknesses include weak OANDA reviews and low CFDs leverage levels of just 50:1.

By Justin Grossbard / Updated: Wednesday, March 25th, 2020

OANDA Review Strengths And Weaknesses

OANDA is one of the oldest and largest forex companies in the world, founded in 1996 by Doctors Olsen & Stumm. The market maker is a favourite for forex traders all around the world due mainly because of the following:

View the full OANDA review below with additional information about the global forex broker.

Our Rating

The overall rating is based on review by our experts

Strengths

1) OANDA Customer Service

In 2020 OANDA won the customer service from Investment Trends in the USA. This is an award voted by active traders in America based on several categories. While they won customer service in the USA, in Australia they have not won since 2020.

OANDA offers customer support 24 hours, five days a week with e-mail, live chat and phone support for Australian forex traders. They also offer Australian forex traders with the opportunity to read the resident blog with Forex Lab Notes on next- generation trading technology, product design and innovation in the forex trading Australia market.

2) Execution Speed Of Orders

OANDA offers a 100% fully automatic platform with no dealer desk intervention maximising the execution speed of trades.

Australian forex traders are offered tools to protect themselves from slippage with the option to set upper and lower bounds to manage fluctuation, set take-profit orders and stop-loss orders to manage downwards risk. Their servers are some of the fastest in the world with 98% of trades executed in less than 0.012 seconds, according to the data collected by January 2020. They ensure there are no re-quotes with all orders executed at market prices and no automated rejections occur, unlike some other brokers.

Typically, OANDA uses price improvement technology to give forex traders an advantage in the market. It sources the best prices from within the liquidity pool to ensure that clients get the best execution prices on every trade. The systems also have the capacity to review voluminous trade data every second. In this manner, OANDA guarantees ultra-fast and intelligent routing of forex trades. The technology will also provide optimal prices in the fast and highly volatile foreign exchange market.

3) Low Spreads & Fees

A key strength found in this OANDA review was their low fees based on there two main accounts:

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Spread Only Pricing

This is the default when a forex trader opens a live account on either the OANDA or MT4 forex trading platform. There are no commissions added to these spreads helping calculate brokerage. It’s ideal for those new to forex trading.

Below you can observe Oanda’s real-time spreads. Additionally, this online broker also gives you access to 7-day historical spreads (accessed directly on Oanda.com), for a better assessment of their spread offering.

Core Pricing

This is the preferred choice for experienced forex traders. It attracts a commission of $5.0 ($10.0 round-turn) for 100k traded but on the plus side, there are tighter market-based spreads. This account must be requested after opening a live account.

Currency pair Spread-only pricing from: Core pricing from:
EUR/USD 0.9 0.1
USD/CAD 0.9 0.2
GBP/USD 0.9 0.2
AUD/USD 1.0 0.2
NZD/USD 1.0 0.2

1) Trial Plan

This plan gives clients a free 30- day trial. New clients are encouraged to use this plan to access OANDA’s API to request a maximum of 1000 exchange rates for up to 190 currencies.

2) Premium Plan

The Premium Plan costs $400 a month. On this plan clients get 100 000 monthly daily ask rates, mid and average bids and rates for over 190 precious metals and currencies, among others.

The average spreads on EUR/USD over a 7-day period is around 1.2 pips but in the figure below we can observe how during news events the EUR/USD spread can go as high as 10 pips or even more.

3) Advanced Plan

This plan costs $750 for which clients receive unlimited monthly quotes, period low, high and average rates, phone support and access to the sales engineer for additional integration assistance, among other unique benefits.

On all plans, there is immediate rate settlement so there is no delay in accessing your funds.

OANDA Weakness – Leverage

Oanda offers different levels of leverage, which are based on local regulatory norms. For example:

  • Oanda US offers maximum leverage of 50:1
  • Oanda Europe offers maximum leverage of 50:1
  • Oanda Australia offers maximum leverage of 100:1

The biggest issue that advanced Australian forex traders have with OANDA is the maximum leverage offered which is 100:1. Some currency pairings have even lower leverage including 50:1 and down to 20:1 for some exotics.

As the table above highlights, some Australian forex brokers offer up to 500:1 which is ten times the rate we noticed in our OANDA review of the company. While leverage dramatically increases the risk profile of forex trading it can be essential for many traders forex strategies. For the beginner, intermediate and even those traders with a low-risk acceptance 50:1 may be ideal as this can help protect you from losing your money or the amount you will lose if currency movements are unfavourable but for expert and higher risk traders, another fx broker may be advisable.

What Else Should I Know About OANDA?

a) The Trading Platform

OANDA uses MetaTrader 4, the most popular platform in the world. It also has it’s own OANDA trading platform that in 2020 won the FX awards for the best platform.

At Oanda, forex traders can choose to trade on the proprietary trading platform fxTrade using 3 versions:

  • Desktop platform
  • Web-based trading platform
  • Mobile Apps

For forex traders that are looking for an opportunity to develop their own trading app/software, a Representational State Transfer (REST) application programming interface. OANDA provides this API free of charge to developers and clients who need to build trading strategies and apps on top of OANDA’s award-winning trading platform.

Traders can also use the API to trade through their fxTrade accounts. If you need the API for purposes other than trading, or if you wish to partner with OANDA, you only need to send an email to the support team.

b) The Mobile Trading Options

OANDA has created fxTrade Mobile 3.2 to help traders work from their mobile devices. This is the latest version of OANDA developed native apps for Android, iPad and iPhone devices. It also comes with new technical overlays and indicators, vertical pinch- to- zoom functionality and additional chart types.

Apart from helping traders draw trend lines, the app can be used to identify resistance and support levels and other common chart patterns. The features have also been designed to allow traders to analyse technical data on currencies, financial instruments and other variables anywhere they roam.

The release of this mobile platform speaks to OANDA’s focus on continuous development and improvement. The company has maintained its lead in mobile forex trading capabilities and taken these capabilities to higher steps. Essentially, the mobile apps are at par with the desktop version of the trading platform. Oanda trading Apps support the same advanced charting capabilities as the desktop platform.

From the feedback OANDA reviews from clients (and their mobile trading behaviour), the company knows that most traders are looking for a robust platform they can access instantly. With fxTrade platform Mobile 3.2, you will be able to do so much more than taking peeks at the latest currency pair spread or checking on your position. Instead, you will receive the full desktop trading experience on your current mobile device.

c) Technical Analysis Tools

OANDA uses a cutting- edge trading app with a sleek user interface, enhanced charting functionality and full visibility in pricing to allow for more customisable options to suit your individual needs. The app also allows for easy mobile navigation from a single screen.

New features in the app include:

– New Charts: Close, Bid, Average, Ask, HLC Bars and Heikin- Ashi candlesticks

– New Indicators: William %R, Standard Deviation, StochRSI, Relative Strength Index, Moving Average Convergence/ Divergence, Commodity Channel Index and Average Directional Index

– The Ichimoku Overlay: The sliders accuracy has been improved for use with overlays and indicators.

OANDA has also added the ability to hide empty candles from the “settings menu” and to change the colours of the candlesticks. Further, cross-hairs are now linked to the main graph chart.

d) Australian certification

Finally, although OANDA has subsidiaries in Singapore, Canada, Japan and the United Kingdom, the Forex Trading Australian subsidiary is primarily tailored to serve the needs and interests of the Australian market. When you trade on this platform, therefore, you can be sure that you will be protected by local Australian financial laws, rules and regulations.

Our OANDA review shows the forex trading Australia division is a trusted source and market maker for currency data. Additionally, we found out in our Pepperstone vs OANDA review that OANDA provides Australians with access to one of the largest historical, filtered currency and high-frequency databases in the world today.

When you trade on this platform, therefore, you can be sure that you will be protected by local Australian financial laws, rules and regulations.

e) Minimum Deposit Requirements

When you open an account, OANDA does not have a minimum deposit requirement to open or maintain an OANDA account. If you wish to trade, you will need to make sure you have enough balance to cover margin requirements your trades.

f) Trading Instruments

Oanda offers a range of CFD Trading tools in addition to Forex. These include Bonds, Commodities and Precious Metals. CFDs are complex instruments and require different skills to forex trading, as always there is a high risk of losing investments. Below you can review the extended list of financial instruments that you can trade on Oanda platform.

Oanda
Forex Currency Pairs +71
Index CFDs 15
Commodities 7
Metal 23
Bonds 6

It is well worthwhile signing up for a demo account to learn about trading CFDs. This will give you 100,000 units for virtual money when trading CFDs and practice will help develop your CFD trading skills to reduce your risk of losing money. While Oanda customers can enjoy access to the Forex market, cryptocurrencies are not among their offering. Clients from the United States or Europe can’t trade Bitcoin with Oanda, only Australian residents have the luxury to take advantage of the Bitcoin rise in price.

About Oanda – Brief History

Founded in 1996, Oanda has been in the Forex industry for almost 25 years and it’s considered to be a pioneer of online brokers. The same way Steve Jobs was a pioneer of the personal computer revolution, Oanda brand has revolutionized online forex trading.

Oanda is a global provider of financial services having its headquarters in New York, United States, the heart of the most financially powerful city and the biggest International Financial Centers (“IFC”) in the world. Oanda offices spread across 6 different countries (total of 7 offices) and 4 different continents.

Oanda Corp headquarters is located at the following address: North American Sales 135, West 41st Street, New York NY, 10036, USA.

In 2020, Oanda experienced a notable global expansion after opening is London office. Later on, Oanda UK has become the headquarters for the European traders under the brand name Oanda Europe Limited.

Regulation and Licenses

Oanda is heavily regulated by the most powerful regulatory bodies in the world. Our industry-leading experts discovered that Oanda is also an advocate of regulatory oversight. Additionally, forex customers can benefit from extra protection due to Oanda’s superior risk management technology.

Oanda is required to comply with the standards and financial norms imposed by the world’s leading regulatory agencies from 5 countries:

  • Registered Retail Foreign Exchange Dealer (RFED) with the U.S. Commodity Futures Trading Commission (CFTC)
  • Forex Dealer Member (FDM) of the National Futures Association (NFA license #0325821)
  • OANDA (Canada) Corporation ULC regulated by the Investment Industry Regulatory Organization of Canada (IIROC)
  • OANDA Asia Pacific Pte. Ltd. regulated by the Monetary Authority of Singapore MAS (CMS License No: CMS100122-4)
  • OANDA Europe Limited regulated by the Financial Conduct Authority FCA in the UK, No: 542574
  • OANDA Australia Pty Ltd. regulated by the Australian Securities and Investment Commission (ASIC) AFSL No. 412981

Oanda Funding Methods

Clients of Oanda Europe Limited can fund their live accounts through several deposit methods. Below, we have listed the most popular funding methods offered by Oanda:

  • Debit card and credit card
  • Bank transfers
  • Electronic Wallets (PayPal)

To deposit funds in your fxTrade account, Oanda clients have the option to make a bank transfer directly from your bank account using Faster Payment, Bacs, CHAPS and SEPA payments. Another advantage is that Oanda doesn’t enforce a minimum deposit policy.

Note* when funding your Oanda trading account, you can only deposit $10,000 per calendar month. Additionally, on Oanda.com forex traders can expect:

  • $10 per month inactivity fee enforced after two years of zero trading activity
  • $20 bank withdrawal fee (applied only for the first withdrawal within a calendar month)

Deposit Currency Supported

Our team of experts works around the clock to keep Oanda broker review up to date. The latest conducted research made at the beginning of January 2020 we found that compared to other online brokers, Oanda has a decent range of account base currencies.

Oanda offers its traders a multi-currency deposit solution that supports 9 different base currencies (CAD, AUD, EUR, CHF, GBP, HKD, JPY, SGD, and USD). When compared to Pepperstone, Oanda falls behind on this metric. You can review to complete Oanda vs. Pepperstone comparison HERE.

About Compare Forex Brokers

The forex trading comparison on compare forex brokers was made by experienced individuals who have worked with financial services companies within Australia including a forex player. They understand how hard it is to compare forex brokers and have developed criteria from spreads to leverage to help Australians find the best forex broker for them. Just view our forex broker comparison options on the homepage. If you have any feedback please feel free to use our contact form. You can also view our broker vs broker comparison such as CMC Markets.

If you see any issues with any of our forex broker comparison tables or this OANDA review please contact the owners using the contact form and changes will be made promptly to ensure all forex trading Australia elements are correct.

Published by Justin Grossbard

Wednesday, March 25th, 2020

Oanda Broker Review: Why Nobody Will Ever Promote Certain Brokers

With the media interest in online Forex brokers skyrocketing in recent years and the subsequent proliferation of Forex related websites, one would think that all of the best brokers would have been given abundant reviews, featured and linked to by dozens and dozens of websites and so on, all for the best interest of an FX trader. However, this statement does not exactly hold true.

Introducing Brokers (IB) in the Forex World

Many online brokers offer an affiliate program, awarding their affiliates with either a flat rate per client subscription or a percentage on the broker’s earnings. Of course, since most online brokers gain profit exclusively from their spreads, this means (at least to some extent) that spreads featured by such brokers tend to be higher than they could actually be. This does not pose a big problem in terms of competition, since the vast majority of brokers adopt this mechanism to drive traders to their sites anyway.

But what if some chose to do everything in their power to try and reduce the spreads, thus giving their traders favorable market conditions? They probably would have to renounce resorting to affiliate programs altogether and reach all their customers by themselves.

Oanda Forex Broker Review

Oanda is one of such companies, maybe the best known of all among these. Comparing their conditions with a typical Forex broker, we honestly think that their trading conditions are extremely competitive and much better than a standard online broker offers, including:

  • trading any fraction of a lot (even just 1 unit);
  • ability to set stop and limit orders with absolute precision;
  • spreads that are variable (which brings an inherent additional risk to the table), but typically lower than a normal broker;
  • second-by-second interest, etc.;
  • Oanda has some great trading tools: events calendar, conversion tools, and so on;
  • even though they offer MetaTrader 4 platform, their original trading platform is more newbie-friendly and will work well for you if you do not use any unique feature of MT4.

The first three point are of great value for every Forex trader. But then, why is Oanda not reviewed and featured all across the Web? Of course, a great part of the answer lies in the fact that, as we already explained, they save on spreads by choosing not to have an IB program, so websites are rarely interested in featuring them.

Let us clear something up: we are not saying that Oanda is the absolute best broker you will ever find because that is not probably true. However, we definitely feel that it is getting less reviews and much less exposure than it actually deserves. To offer a more objective look at Oanda, we will also list some of the disadvantages:

  • Oanda is a market maker, which means that it acts as a counter-party in at least some of the trades it executes on behalf of its clients. Some traders believe that this sort of conflict of interest is vicious. An alternative would be to trade with an ECN broker.
  • Some traders report that Oanda’s trading platform freezes often.
  • Their proprietary platform is OK, but can be quite slow at times.

Are brokers like Oanda destined to fade into obscurity? We honestly hope not.

Update: In recent times, Oanda has launched an IB affiliate program, but it is only available in some jurisdictions and is restricted in the United States. So apparently, the broker is still able to offer reduced spreads, at least to the traders based in the USA.

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OANDA: обзор брокера, отзывы клиентов

Oanda (Оанда) — это один из пионеров брокеров в сфере предоставления посреднических услуг для трейдеров. Компания ведет деятельность с 1996 года и должным образом регулируется. О ней написана масса положительных отзывов. Но есть ли какие-то недостатки в сотрудничестве с конторой? Что собой представляет платформа oanda.com и на какие торговые условия можно рассчитывать? Об этом поговорим в свежем обзоре, который посвящен деятельности Оанда.

Все, что нужно знать про Oanda

Брокер Oanda ведет деятельность более 20 лет. На данный момент — это мощная организация с филиалами в Нью-Йорке, Токио, Сингапуре, Лондоне, Торонто, Сиднее. При написании обзора мы выяснили, что все представительства регулируются должным образом. Разрешения на деятельность получены в Японии, Канаде, США, Австралии, Сингапуре, Великобритании. Список лицензий внушительный:

  • CFTC, № 0325821;
  • FFAJ;
  • ASIC, № 26152088349;
  • FCA, №542574;
  • MAS, № 200704926K;
  • IIROC (Канада), № 090280.

Неудивительно, что в отзывах спекулянты указывают, брокеру Оанда можно доверять. Ее деятельность контролируют авторитетные организации, которые дают трейдерам полную уверенность в честности посредника и безопасности капитала. Таких брокеров считают «среднерисковыми». В ходе обзора мы выяснили, что активы клиентов хранятся на сегрегированных счетах в известных мировых банках. Благодаря использованию технологии управления рисками, у них есть защита от отрицательного сальдо.

Главный офис компании расположен в США. Точный адрес: 140 Broadway, 46th Floor New York, NY 10005. Помимо этого, есть представительства во многих странах мира, куда трейдеры могут обращаться со своими вопросами или в случае возникновения спорной ситуации. На официальном сайте брокера oanda.com указаны следующие контактные номера телефонов:

  • +44 (20) 31 51 20 50 (в Лондоне);
  • +1 (212) 85 87 690 (в Нью-Йорке);
  • +61 (2) 80 46 62 58 (в Сиднее);
  • +65 65 79 82 89 (в Сингапуре);
  • +1 (416) 59 39 436 (в Торонто).

Детальный обзор oanda.com: общее впечатление о сайте

Мы считаем, что оформление платформы oanda.com — большой недочет. Сайт очень неудобный в использовании, о чем пишут в отзывах трейдеры. В компании решили не тратиться на официальный веб-ресурс и это видно сразу. Найти необходимую информацию на платформе oanda.com сложно.

Нам пришлось потратить несколько часов, чтобы выяснить, какие торговые условия предлагает посредник, несмотря на то, что платформа мультиязычная (английский, немецкий, китайский, русский и др.). Навигация на платформе очень неудобная, поэтому лучше сразу обращаться в службу поддержки (есть русскоязычная).

Преимущества платформы oanda.com: наличие конвертера валют. Для онлайн-калькулятора используются курсы, полученные от ведущих участников рынка. При подготовке обзора мы узнали, что тарифы брокера пользуются доверием многих аудиторских органов, налоговиков, крупных корпоративных и частных клиентов. На oanda.com фильтрованные ставки обновляются регулярно. Аналогичная ситуация с веб-семинарами и новостными обзорами.

Детальный обзор торговых условий

В отличие от многих классических брокеров, на oanda.com делают все возможное, чтобы сделать трейдинг CFD и валютами на Форексе доступным всем инвесторам без исключения. Предоставляя обучающие материалы в Академии трейдинга и качественные посреднические услуги, компания хочет помочь инвесторам добиться финансового успеха. И в отзывах пользователи пишут, что это отвечает действительности.

Торговая платформа брокерской конторы автоматизирована на 100%, что обеспечивает быстрое исполнение сделок. Помимо этого, исключена возможность разворота контрактов в свою сторону. Инвесторам открыт доступ более чем к 100 инструментам, среди которых:

  • индексы;
  • облигации;
  • валютные пары;
  • металлы;
  • сырьевые товары.

Спред плавающий, по EUR/USD средний показатель составляет 1,4 пункта. Учитывая, что установлены четкие значения спредов, трейдеры могут не переживать о скрытых комиссиях. На oanda.com разрешается торговля с советниками и скальпинг.

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Максимальный леверидж достигает 1:50 по валютным парам. Это не самое лучшее значение, как отмечают в отзывах клиенты компании. Однако они признают, что на данный шаг брокерская контора пошла из-за давления американского регулятора. Что касается маржин колла, то он наступает при достижении отметки 50%.

Основных торговые условия, на которые стоит обратить внимание:

  • отсутствие комиссий при проведении сделок и минимальных объемов контрактов;
  • приемлемые спреды;
  • нет порога входа (пополнять депозитный счет можно на ту сумму, которая необходима для приобретения актива);
  • наличие мультивалютных счетов;
  • FxManager, что позволяет торговать от имени нескольких инвесторов сразу, используя управление ПАММ-счетами;
  • демо-аккаунт, что дает возможность протестировать торговлю на oanda.com.

Что собой представляет торговая платформа: детальный обзор

Для получения прибыли важно пользоваться качественной платформой. Благодаря большому выбору терминалов, у инвесторов появляется больше шансов для заработка. Учитывая значимость бесперебойной и эффективной торговли, брокер Оанда предлагает:

  • МТ4. В отзывах пользователи отмечают, что платформа отличается прекрасным функционалом, интуитивно-понятным интерфейсом, наличием архива сделок, возможностью оптимизировать торги посредством графических инструментов, индикаторов и пр.;
  • OANDA (десктопная и веб-версия). Обеспечивает высокую скорость исполнения ордеров, доступ к конкурентным спредам. Есть возможность индивидуальной настройки и построения детализированных графиков;
  • API OANDA. Это эффективный инструмент для разработчиков, которые хотят автоматизировать торговые стратегии. Предоставляются FIX, REST, программные интерфейсы (API). Детальнее можно узнать в обзоре этого решения на oanda.com.

Пополнение баланса и снятие средств: обзор доступных вариантов

Опытные трейдеры отлично знают, что при выборе брокерской конторы, важно обратить внимание не только на торговые условия, но и на разнообразие способов ввода/вывода средств. У брокера Оанда все предельно понятно. Разнообразие способов пополнения и снятия средств зависят от выбранной валюты и места жительства пользователя. Например, для клиентов из США недоступны электронные платежные системы, а европейские трейдеры могут использовать ПайПал лишь для счетов в USD, GBP, EUR. Учитывайте что при банковском переводе на зачисление может потребоваться несколько дней, а при использовании кредиток или дебетовых карт VISA, Mastercard — пополнение происходит моментально. Подробнее с условиями можно ознакомиться непосредственно на сайте oanda.com.

Отзывы реальных клиентов

В сети самые различные мнения о брокере Оанда. Предлагаем ознакомиться с тем, что пишут клиенты компании:

В негативных отзывах пользователи жалуются на то, что платформа периодически глючит, а также отмечают неудобную навигацию, о чем мы писали выше:

Оанда: мошенники или нет?

Безусловно, брокера Оанда нельзя считать мошенником. Эта контора предлагает услуги высокого качества и регулируется авторитетными организациями. Мы считаем, что с таким посредником можно успешно заниматься трейдингом CFD и валютами на Форексе.

В качестве заключения

Обзор брокерской организации Оанда показал, что компания работает на финансовых рынках более 20 лет, и достаточно успешно. Ее услугами пользуются трейдеры из различных стран. Оанда позиционирует себя в качестве лидера, так как выступает гарантом стабильности и надежности. Да, у брокера есть некоторые недостатки, о чем пишут в отзывах пользователи. Если вы готовы мириться с ними, можно регистрироваться на платформе и приступать к торговле.

Автор: Анастасия Чабанюк

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