|Headquarters||London, United Kingdom|
|Support Number||+44 20 3151 2050|
|Support Types||Phone, Contact Form|
|Languages||English, Chinese, German, Spanish, French, Italian, Japanese, Portuguese, Russian|
|Minimum Trade Amount||0.01 lots|
|Maximum Trade Amount||100 lots|
|Free Demo Account|
|Regulation||Many regulators in different countries|
|Account Types||Live, Demo|
|Deposit Methods||Visa, Discover, MasterCard, PayPal, Wire Transfer, Check, ACH, BACS, CHAPS, SWIFT Wire Transfer, SEPA|
|Withdrawal Methods||Visa, Discover, MasterCard, PayPal, Wire Transfer, Check, ACH, BACS, CHAPS, SWIFT Wire Transfer, SEPA|
|Types of Assets||Forex, CFDs, Precious Metals, Bonds, Commodities, Indices|
|Account Currency||USD, EUR, GBP, CAD, HKD, JPY|
|Forex Demo Contests|
|Forex Live Contests|
|US Traders Allowed|
OANDA is a financial services company that is navigated by technology and delivers great value to its customers by spending their money on leading-edge technological solutions. Additionally, with everything the company does the focus is put on the client. Thus, it has constructed a team of people who trust in their core values, epitomising excellence, integrity, and continual self-improvement.
OANDA experienced its co-foundation in 1996 by an economist and a computer scientist who believed that technology and the Internet would open up markets – both for trading and data and give fair access to everybody. OANDA was the first company to make available comprehensive currency exchange information over the Internet back in 1996, and in 2001, it aided in pioneering the development and growth of internet-based currency trading.
For the 20 years that have passed, the Forex enterprise has grown from a tech start-up to a global corporation that is one of the leaders in trading online.
OANDA is registered and regulated by several regulatory entities, including U.K.’s FCA, Canada’s IIROC, North America’s NFA, Australia’s ASIC, and Singapore’s MAS.
OANDA boasts several amazing features when it comes to trading. First of all, there are advanced charting and indicators. With OANDA, it is possible to close orders and trades, including Stop & Limit Orders, from within the trader’s advanced charts by right-clicking on a chart or by making use of the optional Buy/Sell panel.
At OANDA, users can select more than 65 technical indicators, including Donchian Channels, Volume, Moving Averages, Balance of Power, MACD, Stochastics, Bollinger Bands, Ichimoku Cloud, Aroon, and many more.
OANDA clients have a broad range of drawing tools to help them analyse market trends, comprising Elliott Waves, Gann Fans, and Pitchforks. Should you like to add symbols and notes for future reference, this is also possible at OANDA via annotation tools.
Another great option is the ability to analyse CFD and Forex price trends with charts that vary from 5 seconds (5s) up to 1 month (1m). In order to view the custom time periods, you can use the option “Change Interval”. At OANDA, there are neither rejections, nor requotes, nor last looks. What you have is a transparent pricing model, uniting highly competitive spreads with no minimum deposits, no trading commissions, and no minimum trade sizes.
In an effort to fine tune one’s trading strategies, OANDA makes accessible a demonstration account.
Oanda Trading Platforms
OANDA’s MT4 trading platform packs a potent technology punch. We have already mentioned the innovative charting features. Next to that, there are several more.
First of all, at investors’ kind disposal is technical analysis which identifies opportunities for trading by referencing technical chart patterns in addition to resistance and support levels. Thanks to customised searches on the basis of instruments, historical pattern quality, time frame, and pattern type, you can search for opportunities.
The MarketPulse feature of OANDA allows an access to market news that are up-to-the-minute through leading providers of news, including 4CAST and Dow Jones International, and they come completely gratis with the Live OANDA account.
Due to OANDA’s market transparency, one can obtain access to Forex market sentiments and CFD†, as well as view an image of current positions and pending orders thanks to cutting-edge trading tools.
OANDA’s platform is readily available for Windows, Mac, and Linux and permits investors to adjust their list of CFD instruments and currency pairs that appear in the Rates Panel of a user’s account.
Security and Customer Services
OANDA is principally regulated by the NFA in North America. Besides that, it has established numerous offices around the world where the domestic regulatory entities are charged with its authorisation – this includes Canada, Europe, Australia, and the regions of the Asia Pacific. There is also a financial services compensation scheme mainly for the clients hailing from the European division of OANDA. The claim’s nature and status define its admissibility.
Further assuring a steady breathing of its enthusiastic traders, OANDA maintains clients’ moneys (including deposited cash, realised and unrealised profit) as a trustee in fully segregated accounts in a financial entity or a bank consistent with the Client Money Rules of the FCA.
Safety and security of a Forex broker is of paramount importance, but so is the level of the customer service provided. In this regard, OANDA’s professional customer support brims with attentiveness, quick execution, and supersonic response. It can be contacted over the phone and via a live help. Interestingly enough, there are no specific e-mail addresses, but there is a web form.
Over the course of 20 years, the enterprise from a tech start-up has grown to a global corporation, having 8 key financial centres, investors from nearly 200 countries, customer service provided in 9 languages, and 6 chief regulatory bodies.
Deposits and Withdrawals of Oanda
At OANDA, the deposit options vary on the basis of the regional division with which the traders hold their accounts. For further information, a thorough review of the five (5) divisions – U.S., Asia Pacific, Canada, Europe, and Australia – is necessary. Before proceeding to any deposits, it should be kept in mind that OANDA will not accept any forms of payments from third parties. In certain countries, PayPal could only be used for sending funds.
In general, depositing cash can be executed via a debit or a credit card (MasterCard or VISA), through bank wire transfer, checks (only for USD), automated clearing house (ACH), PayPal, SWIFT wire transfer, Bpay, and China UnionPay.
Bank wire transfers can be used in all regions and have no limit. Depositing through debit and credit card is limited to 10,000 currency units (100,000 HKD or 1,000,000 JPY) per month. PayPal can be used in all regions save for the U.S. China UnionPay is only available in the Asia-Pacific division, and Bpay – in Australia.
The withdrawal options also depend on the region. In the U.S., only credit/debit card and bank transfers are available (they need 1 day in the U.S. and 3-5 days outside of it). In Canada, Australia and Europe, in addition to credit/debit card and bank transfers, PayPal is also a withdrawal option. In the Asia-Pacific region, cheque payments are also an option next to the previous three.
The supported currencies at OANDA are USD, HKD, SGD, CHF, JPY, CAD, AUD, GBP, and EUR.
Deposit Bonus and Loyalty Programmes
At OANDA, they do offer the programme “Refer a Friend” which may yield a bonus only on the condition that the referred person incepts an account and initiates trades.
For active investors, there are also deposit bonuses. For depositing between $£€500 and $£€4,999, they may receive further $£€150 based on the trade volume of the past 30 days. For deposits between $£€5,000 and $£€49,999, a $£€3,000 bonus is accessible. For deposits over $£€50,000, investors will be eligible for the Premium Trader Programme.
The cash bonus will be credited within 60 days of the initial deposit and will be available for withdrawing within 30 working days after it has been credited.
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