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Oanda Review

OANDA Review

 

Overall, Oanda can be summarised as a safe broker that provides competitive spreads on Contracts for Difference (CFDs). It offers 100+ trading instruments with a trust score of 98 out of 100. Oanda is fully regulated by three tier-1 regulators (highest trust score in the industry)

 

🔎 Broker🥇 Oanda
💰 Min. Deposit$0 USD
🆓 Demo Account ✅ Yes
✒️ RegulationASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA
💻 MetaTrader 4☑️ Yes
🖥️ MetaTrader 5✅ Yes
📌 Mobile AppsiOS, Android and Windows
➕ Copy TradingNo
🤝 Social TradingNo
☪️ Islamic Account☑️ Yes
🚀 Open an Account👉 Click Here

 

Overall Rating

4.9/5

Rated #194 of
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

FCA, CFTC, ASIC, FSC, BVI and IIROC

📱 Trading Desk

MetaTrader 4 (MT4)

MetaTrader 5 (MT5)

Crypto

Yes

📈 Total Pairs

45 

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

 

Oanda Review – 19 Key Point Quick Overview

 

  1. ☑️ Oanda Overview
  2. ☑️ Oanda Safety and Security
  3. ☑️ Oanda Sign-Up Bonus
  4. ☑️ Oanda Minimum Deposit
  5. ☑️ Oanda Account Types
  6. ☑️ How to open an Oanda Account – Step by Step Guide
  7. ☑️ Oanda Islamic Account
  8. ☑️ Oanda Demo Account
  9. ☑️ Oanda Trading Platforms
  10. ☑️ Oanda Fees, Spreads, and Commission
  11. ☑️ Oanda Deposit and Withdrawal
  12. Oanda Affiliate Program
  13. Oanda Best Countries by Traders
  14. Oanda vs Capital.com vs Forex.com
  15. Oanda Customer Reviews
  16. Oanda Current Popularity Trend
  17. Oanda Pros and Cons
  18. Conclusion
  19. Frequently Asked Questions

 

 

Oanda Top Bar

 

Oanda Overview

 

Oanda is a trusted global brand that is best known for its reputable reputation and quality market research on offer. Oanda is extremely well-regulated and supports third-party features for an impressive overall offering.

 

🔎 Broker🥇 Oanda
💰 Min. Deposit$0 USD
🆓 Demo Account ✅ Yes
✒️ RegulationASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA
💻 MetaTrader 4☑️ Yes
🖥️ MetaTrader 5✅ Yes
📌 Mobile AppsiOS, Android and Windows
➕ Copy TradingNo
🤝 Social TradingNo
☪️ Islamic Account☑️ Yes
🚀 Open an Account👉 Click Here

 

Oanda Overview

 

Oanda Safety and Security

 

Oanda is regulated by three tier-1 regulators (highest trust) and carries multiple licenses across the globe.  Furthermore, Oanda offers 2 Factor Authentication (2FA) and Comprehensive cutting-edge security.

 

Oanda Safety and Security

 

Oanda Sign-Up Bonus

 

Oanda does offer a sign-up bonus of $500 USD. A minimum deposit of $500 USD is required to earn a sign-up bonus of $500 USD. The relevant Oanda welcome bonus will be credited to the user account 45 days after meeting the minimum trade volume requirement.

 

🔎 Broker🥇 Oanda
🎉 Sign Up Bonus☑️ Yes
❤️ Bonus Amount$500 USD
💰 Min. Deposit$500 USD
🛑 Bonus Expires31 July 2022
🚀 Open an Account👉 Click Here

 

Oanda Sign Up Bonus

 

Oanda Minimum Deposit

 

The minimum deposit amount required to register an Oanda live trading account ranges from $0 USD – $10’000 USD.  Oanda makes two live trading account types available, the Oanda Standard and Oanda Advanced Trader accounts.

 

🔎 Oanda Account🥈 Standard🥇 Advanced Trader
💰 Min. Deposit$0 USD$10'000 USD
🚀 Open an Account👉 Click Here👉 Click Here

 

Oanda Minimum Deposit

 

Oanda Account Types

 

Oanda provides three different account types – the Standard Account, the Advanced Trader Account, and the risk-free Demo trading account.  The minimum deposit amount required to register an Oanda live trading account ranges from $0 USD – $10’000 USD.

 

🔎 Account🥈 Standard🥇 Advanced Trader
💰 Min Deposit$0 USD$10'000 USD
📌 FX Pairs7070
🤝 Dedicated Account ManagerNo✅ Yes
💻 MT4✅ Yes☑️ Yes
❤️ 24/5 support☑️ Yes✅ Yes
🚀 Open an Account👉 Click Here👉 Click Here

 

Oanda Account Types

 

How to open an Oanda Account – Step by Step Guide

 

1.  Step 1:  Start Application Process

The first step to opening an Oanda account is to click on the “Open trading account” button located on the webpage.

 

Oanda Account Step 1

 

2.  Step 2:  Confirm Country of Residence

The applicant will be asked to confirm their country of residence in order to proceed.

 

Oanda Account Step 2

 

3.  Step 3: Complete Registration

The applicant will be required to complete a registration form on the following sub-categories:

 

  • Personal Details
  • Citizenship
  • Home Adress
  • Employment
  • Identity Verification

 

Once these fields have been completed, the account holder can make a first deposit and start to trade.

 

Oanda Account Step 3

 

Oanda Islamic Account

 

Oanda offers Islamic swap-free trading on the Standard Account level. Oanda offers Extended Swap-free status by default to all applicable trading accounts created by clients in non-Islamic countries.  Trading on the Oanda Islamic, swap-free account incurs no administration charge for the first five days.

 

🔎 Account☪️ Islamic
➖ Min Spread1.6 Pips
➕ Max Trade Size10 million
💳 CommissionNone
💰 Base CurrencyUSD
📈 Scalping✅ Yes
📉 Hedging☑️ Yes
📊 EAs✅ Yes
🚀 Open an Account👉 Click Here

 

Oanda Islamic Account

 

Oanda Demo Account

 

Oanda does offer a free demo trading account for beginners to practice forex trading in a 100% risk-free environment. The Oanda Demo account does not expire and comes loaded with 100’000 Units of virtual currency.

 

🔎 Account🥇 Demo
💰 Virtual Funds100'000 Units
🚩 ExpiresUnlimited
📊 Real Time Rates✅ Yes
📈 Real Market Conditions☑️ Yes
💻 Mobile Trading✅ Yes
🚀 Open an Account👉 Click Here

 

Oanda Demo Account

 

Oanda Trading Platforms

 

Oanda makes four ways to trade available across the fully customizable Oanda Trade web-based and desktop platforms or apps for mobiles and tablets.  Traders can also select to trade on the trader-favorite MetaTrader 4.

 

Oanda Trading Platforms

 

Oanda Fees, Spreads, and Commission

 

Trading with Oanda will involve fees from $7.9 USD, spreads from 1.2 pips, and commission-free trading depending on the account traders select. The minimum deposit amount required to register an Oanda live trading account ranges from $0 USD – $10’000 USD.

 

🔎 Broker🥇 Oanda
💵 Fees from$7.9 USD
🔁 Spreads from1.2 Pips
🛑 Inactivity Fee✅ Yes
💳 Third-Party Fees✅ Yes
🚀 Open an Account👉 Click Here

 

Oanda Fees and Spreads

 

Oanda Deposit and Withdrawal

 

To initiate the first deposit into an Oanda trading account traders can make use of a Debit card, Bank Wire Transfer, Check (USD), and Automated Clearing House payments. Withdrawals on the other hand can be done via a Debit Card and Bank Wire Transfer only.

 

Oanda Deposit and Withdrawal

 

Oanda Affiliate Program

 

The Oanda partner program is the Brokers’ official affiliate program and it is completely free to join.  Oanda Affiliates can earn up to $1’000 USD for each client successfully introduced to Oanda.

 

Oanda Affiliate Program

 

Oanda Best Countries by Traders

 

🌎 Country Of Trade📌 % of Traders
🥇 United States17.38
🥈 Germany7.03
🥉 United Kingdom6.81
🏅 Spain3.97
🚩 Canada3.87

 

Oanda Best Countries

 

Oanda vs Capital.com vs Forex.com

 

🔎 Broker🥇 Oanda🥈 Capital.com🥉 Forex.com
💰 Min Deposit$0 USD$20 USD$100 USD
🔁 Tradeable Symbols1246000+5500
🚩 Forex Pairs7113891
🚀 Open an Account👉 Click Here👉 Click Here👉 Click Here

 

 

 

 

Oanda Customer Reviews

 

Very Reliable.

Oanda is a very reliable service provider and I could not be happier with my choice of broker. – Chanel

 

TrustPilot 5 Star

 

Great Provider.

I am new to Forex Trading and Oanda has been there for me every step of the way.  Great Broker for beginner traders. – Yolandi

 

TrustPilot 4 Star

 

Excellent Support.

The Oanda Support Team is always ready to assist and its customer service team is one of the best in the business. – Rodney

 

TrustPilot 3 Star

 

Oanda Current Popularity Trend

 

According to Google Trends, here is an overview of how frequently the search term “Oanda” is entered into Google’s search engine over a given period of time.

 

Oanda Trend 1 Oanda Trend 2

 

Oanda Pros and Cons

 

✅ Pros❌ Cons
Excellent trading platformsOnly FX and CFD available
Great research toolsNo stock exchange listing
User-friendlyCustomer support is not 24/7

 

 

Overall Rating

4.9/5

Rated #194 of
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

FCA, CFTC, ASIC, FSC, BVI and IIROC

📱 Trading Desk

MetaTrader 4 (MT4)

MetaTrader 5 (MT5)

Crypto

Yes

📈 Total Pairs

45 

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

 

Conclusion

 

Overall, Oanda can be summarised as a trustworthy broker that is regulated by three tier-1 regulators (highest trust).  Oanda has a trust score of 98 out of 100.

 

 

You might also like:  Oanda Minimum Deposit

You might also like:  Oanda Account Types

You might also like:  Oanda Demo Account

You might also like:  Oanda Fees and Spreads

You might also like:  Oanda Sign up Bonus

 

 

Disclaimer

 

Oanda warns potential traders that Forex and CFDs trading comes with a level of risk and may not be suitable for everyone.  Before making the choice to trade any products offered by Oanda, traders are advised to contemplate their investment objectives, needs, financial situation, and experience level.

 

 

Frequently Asked Questions

 

Is Oanda a trustworthy Broker option?

Yes, Oanda is regulated by three tier-1 regulators (highest trust) and carries multiple licenses across the globe.

 

Does Oanda offer a Sign Up Bonus to new traders?

Yes, Oanda does offer a sign-up bonus of $500 USD to new traders.

 

What is the minimum deposit amount required to make a start with Oanda?

The minimum deposit amount required to register an Oanda live trading account ranges from $0 USD – $10’000 USD.

 

Does Oanda cater to Muslim Traders?

Yes, Oanda offers Islamic swap-free trading on the Standard Account level.

 

How do I make my first deposit with Oanda?

To initiate the first deposit into an Oanda trading account traders can make use of a Debit card, Bank Wire Transfer, Check (USD), and Automated Clearing House payments.

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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