Oanda Review


OANDA is a Canadian origin forex broker with multiple operations across the world. OANDA was founded in 1996 and launched its retail platform in 2001. It has since grown to become one of the leading online brokerage platforms in the world.

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Oanda Pros

  • High Quality non-dealing desk broker
  • Excellent reputation
  • Leverage up to 1:200 (under BVI license)
  • Minimum deposit $1 
  • 45+ currency pairs available
  • Low spreads from 1 Pips
  • Fast trade execution
  • Scalping/Hedging is allowed
  • MT4 / MT5, cTrader, Webtrader
  • Account currencies: USD, SGD, HKD, EURO
Oanda Cons
  • No CFD on stocks

Oanda is a multi-regulated forex broker

The Oanda brand is regulated in six different jurisdictions around the world. 

The United States

Legal name: OANDA Corporation. The regulator is the Commodities and Futures Trading Commission (CFTC), which gives OANDA the license to operate as a Futures merchant and a retail forex dealer. OANDA Corp is also a member of the National Futures Association (NFA) under membership number 0325821.


Legal name: OANDA Canada Corporation ULC. The broker operates under the Investment Industry Regulatory Organization of Canada (IIROC). Trader funds are well protected by the Canadian Investor Protection Fund.


Legal name: OANDA Europe Ltd. The broker is regulated by the Financial Conduct Authority (FCA) in the UK. The license number is 542574, and traders are protected by the Financial Services Corporation Scheme (FSCS) to the tune of £85,000.

Asia Pacific:

Legal name: OANDA Asia Pacific Pte Ltd. The broker has been issued with a Capital Markets Services license by the Monetary Authority of Singapore.


Legal name: OANDA Australia Pty Ltd. The broker operates under the Australian Securities and Investment Corporation (ASIC) with license number 412981. There is also a compensation scheme created to protect traders against unforeseen losses.


Legal name: OANDA Japan Ltd. The broker operates under subscriber number 1571 issued by the country’s Financial Futures Association (FFA).

Therefore, it is clear the OANDA is a multi-regulated broker. This makes it one of the safest brokers to register with. However, you must take note of your location to see which jurisdiction you fall under.

Financial Instruments Offered by OANDA

OANDA offers traders a multitude of trading assets to choose from. There are over 100 instruments available for traders across the globe. They include currencies, metals, commodities, bonds, and Indices CFDs. But there are no stocks and crypto, not even in CFDs. The only crypto available is bitcoin, tradable as a CFD.

FOREX (Currencies):

There are 45 currency pairs available for trading including all the majors, minors, exotics, and cross pairs.


The broker offers a wide variety of indices CFDs to choose from. They are drawn from all over the world, including Asia Pacific, Europe, and North America.


There are eight commodities available to trade. They include Brent crude, copper, wheat, sugar, soybeans, corn, natural gas, and WTI crude oil.


Gold, platinum, palladium, and silver. Gold and silver can be traded against multiple currencies.


Traders can trade bitcoin in the form of CFDs. There is also mini bitcoin, which trades at 0.01 times the prevailing BTC/USD price.

Treasury Bonds:

Traders can choose from a range of US treasury notes including 2-year, 5-year, 10-year, as well as, the US T-bond and the German Bund.

OANDA Trading Platforms

Traders can also choose from well know platforms like the MetaTrader 4, which is available for desktop and mobile apps (smartphones and tablets). Traders can also choose the web version of the MT4.

The platforms come equipped with modern trading features like one-click trading, multiple order types, charting tools, news feeds, trading indicators, and many more.

The mobiles app allows traders to connect with other traders. Advanced configurations are currently available in iOS only.

OANDA Account Types

OANDA offers traders a choice of three accounts to choose from. All accounts have a minimum order size of 0.01 lots, leverage of up to 200:1, one-click trading, and a 50% stop-out level.

Swap-free ISLAMIC account:

This account is suitable for traders that do not wish to pay or receive interest on their accounts. OANDA approves requests at its discretion. The base currency can only be in USD and traders can trade up to 26 assets.

Standard account:

This is available to all traders. Spreads start at 1 pip and there are no commissions. Base currencies are USD, EUR, HKD, and SGD. Traders can trade up to 60 instruments. It is suitable for all traders.

Core account:

This account requires the account holder to have a minimum balance of $5,000. Spreads start at 0.2 pips and commission per million is US$40. Traders can trade 38 instruments. Base currency is available in USD, EUR, HKD, and SGD. It is suitable for EAs and scalpers.

Commissions and Trading Fees

Traders can choose whether they trade on a spread-only account or a core account that attracts commissions. 

If you choose a spread-only account, the commission is wrapped into the spread, such that the spread is the only cost that you pay.

If you go for core pricing plus commission, the spread on trades is reduced significantly. But you pay $50 for every 1 million trade size. Other trade sizes are pro-rated.

Forex pairsSpreadCore pricing

Deposits and withdrawals

Credit/Debit card: OANDA supports credit/debit cards offered by Mastercard and Visa.

Bank wire/Bank transfers: OANDA supports different banking options, which may have different processing times.

Skrill and Neteller: traders can also deposit and withdraw through online wallets.


OANDA has a market pulse section that provides technical analysis, forex news, and an up-to-date economic calendar, among other features.

Traders can also use a demo account to sharpen their skills before going for a live account.

Customer Support

OANDA has an automated step-by-step support system that helps traders find answers to most general questions. Traders can also contact support by querying the OANDA assistant live chat. The broker has an average of  ⅖ rating on Trustpilot.

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