does offer the unique option of funding via cheque, which could be useful for some traders. However, the absence of e-wallet options like PayPal could be a deal-breaker for others. OANDA’s inclusion of PayPal as a funding option gives it a slight edge for traders who prefer the convenience of e-wallets. Neither nor OANDA charges deposit or withdrawal fees, which is a significant advantage for traders. OANDA is a suitable platform for sophisticated traders who prefer to connect via API alongside.

There are advanced charting options with more than 60 different indicators available and the ability to customize almost every display chart within the platform based on your needs. As far as the broker’s order execution policies are concerned, the OANDA Forex rates are derived from multiple liquidity providers for institutional-grade trading. All orders are transferred to the interbank liquidity pool through ECN bridges, and the broker has no role in price markup or order execution. We had half-expected the OANDA Forex rates to be delivered through an innovative proprietary trading platform, just like we have seen with several mainstream brokers—especially those from the US.

KYC Procedure for Account Creation and Depositing

MT4 includes advanced charting, studies, watchlists, and trade automation through “expert advisor” plugins that many traders appreciate. Because the MT4 platform is such a well-known industry standard, traders moving to OANDA from other brokers will be familiar with its functionality. On the downside, the look and feel of the application are a little dated, and some functions can be clunky. OANDA generates revenue via the spread that it then offers to the client, as is the norm in the brokerage industry. Commission charges are aggregated and posted to client accounts as cash adjustments.

OANDA also offers a useful amount of educational resources to clients, including the basics of forex, tools and strategies, and capital management information. The OANDA Classroom features events and webinars, including on-demand learning of previous webinars and a premium webinar series. As you review OANDA, you will notice that the broker offers a long list of tools to help traders analyze and make decisions. You can pay either solely spreads or core pricing with commissions.

It means that traders in these regions cannot use these brokers. However, having so many regulatory licences for key regions around the world, means that OANDA provides a service for traders around the world. In 2018 OANDA was bought out by CVC Capital Partners, a leading private equity firm which has allowed an extension of its strategic growth plan as a leading global multi-asset brokerage. With the development of cutting edge technology, Oanda can continue to invest in its institutional-grade platform. This means that Oanda can offer traders the tools to maximize their potential.

What Can I Trade?

OANDA’s spreads are consistently below the average, while’s are slightly above in some cases but still in line with what’s typical in the industry. Overall, OANDA ranks among the brokers that shouldn’t be ignored. Trying out their services will prove to be an enjoyable experience. You also get to enjoy superior analytical tools, news aggregators, charts, and more.

Thousands of global instruments on your smartphone

73.5% of retail investor accounts lose money when trading CFDs with this provider. In his role, David works with a team of writers to develop content for the site, this includes planning future content and editing and proofing existing works. David also has deep knowledge of the Forex industry and spends substantial time fact-checking the accuracy of the information about the brokers for the website. No commission account spread propiety testing data and published wesbite spread information, centralised on our standard account spread page.. Actually, neither OANDA nor offer social or copy trading. If that’s a deal-breaker for you, have a look at our best social trading platforms.

Standard Account

Trading in digital assets, including cryptocurrencies, is especially risky and is only for individuals with a high risk tolerance and the financial ability to sustain losses. OANDA Corporation oanda forex broker review is not party to any transactions in digital assets and does not custody digital assets on your behalf. All digital asset transactions occur on the Paxos Trust Company exchange.

Excellent set up and telephone support.

This is evident in its web-based trading platform, which is one of the most user-friendly and intuitive platforms around despite being incredibly advanced. Step into the exhilarating realm of Cryptocurrency CFDs, featuring prominent names like bitcoin cash, litecoin, and ethereum, uniquely presented by OANDA. OANDA’s unwavering commitment centers around empowering traders with state-of-the-art trading mechanisms coupled with precise financial intelligence.

OANDA Alternative Brokers & Comparisons

There are many platforms nowadays that offer forex trading, but we’ll be focusing on two that are often compared to OANDA – and XM Group. Signing up, creating an account, and using OANDA is absolutely free. The platform charges no maintenance fees, nor does it require regular payments. Unlike many similar platforms, OANDA only takes a commission out of successful trades at a rate of $50 per million. The website provides all the information on how the prices are calculated. does not assume liability for the financial losses our readers can potentially incur while trading with the online brokers we shortlist.

Although both MT4 and MT5 terminals are available for Standard and Core account holders, SWAP-free account holders are only given access to the MT4 platform. For Premium and Premium Core account holders, the broker only supports the MT5 terminal, which appears to be a strange choice. OANDA, with its rich legacy spanning over two decades, offers an unparalleled trading experience.

Further, there are no deposit fees, no matter the deposit method. The only potential charges will be those set by the user’s bank. The same goes for withdrawals done by credit or debit (Visa or Mastercard) card. Withdrawals by bank wire transfer, however, do require a fee ($20 per transaction).