Oanda

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Written By Forex
Updated: August 28, 2025

If you’re trying to find a forex broker, OANDA is worth a look. Their website says they do all things currency. In this review, we’ll go over what’s important when you’re thinking about trading with OANDA. We at bestbrokers.com think they do a good job in a lot of areas.

Customers seem to like them, with a Trustpilot score of 4.1/5.0. That’s from 1,109 reviews, and 62% of people gave them 5 stars. On the other hand, 25% gave them only 1 star. This info is from August 26th, 2025.

OANDA Summary
Year Founded	2001
Minimum Deposit	$0
Tradable Instruments	Forex, Indices, Metals, Commodities, Stocks, ETFs, Cryptocurrencies
Open an Account	How to Open an Account at OANDA
Trading Costs	Spreads, Fees, and Commissions at OANDA

Trustpilot Rating

4.0★

3.9★

Oanda Industry Avg

Trustpilot Rating

1,085

4,623

Oanda Industry Avg

Trustpilot Rating

4.7★

3.9★

Oanda Industry Avg

Trustpilot Rating

Oanda Industry Avg

Trustpilot Rating

4.0★

3.9★

Oanda Industry Avg

Trustpilot Rating

1,085

4,623

Oanda Industry Avg

Trustpilot Rating

4.7★

3.9★

Oanda Industry Avg

Trustpilot Rating

Oanda Industry Avg

Strong regulation
Competitive pricing
Low costs
Institutional-grade execution speeds
Excellent trading platforms
Strong research and educational content

OANDA is a great forex broker. It has been around for over 25 years, and they’ve grown a lot since then, becoming one of the best in the business.

Two professors started the company way back in 1996 in Delaware. Since then, they’ve grown like crazy. They started in Times Square, New York City, and now they have offices in eight countries worldwide. They’re one of the top global brokers and can go head-to-head with anybody.

Here is the list of the countries that OANDA has offices in:

	USA (17 State Street, Suite 300, New York, NY 10004-1501, USA)
	Canada (Suite 302, 370 King Street West, 3rd Floor, P.O. Box 60, Toronto, ON M5V 1J9, Canada)
	The UK (Dashwood House, 69 Old Broad Street, London EC2M 1QS)
	Poland (ul. Zabłocie 43B, 30-701 Kraków, Poland)
	Poland (Warsaw UNIT, Rondo Daszyńskiego 1, 00-843 Warsaw, Poland)
	Malta (171 Old Bakery Street, Valletta, VLT 1455, Malta)
	Spain (Paseo de la Castellana 18, 7th floor, office 144, Madrid, Spain)
	Japan (Circles Hirakawa-cho, 10th Floor, 1-3-13 Hirakawa-cho, Chiyoda-ku, Tokyo, 102-0093, Japan)
	Singapore (1 Raffles Place #26-02, One Raffles Place Tower 1, Singapore 048616)
	Australia (Level 1, 60 Martin Place, Sydney NSW 2000, Australia)

Changing The World

Being a tech firm at heart, OANDA has been a pioneer in the trading world. Since its early days of launching its first platform in 2001, they were among the early adopters in the development of automated trading technology in 2003. Furthermore, they were the first broker to introduce “pipettes” (1/10 of a regular pip) in 2004. This shows that driving the industry forward is at its core. In 2005, Oanda launched the Forex Trader’s Bill of Rights, a manifesto outlining a couple of fundamental principals safeguarding traders’ rights. Over the years, the company gained international recognition, expanding in Asia, Australia, and Japan, among other regions.

The Future Is Now

The expansion has always been part of their strategy for growth. In recent years, OANDA has set up offices around the world, becoming the largest foreign forex broker in Japan, in addition to being one of the leading brokers in the US. The takeover by leading private equity firm, CVC Capital Partners in 2018 now means that the OANDA brand name continues to grow both organically and through acquisition.

Catering to Traders Worldwide

One of the impressive features of AvaTrade is its truly global reach, which is something that will appeal to traders all around the world. Their website is configured for over 25 separate countries and regions and supports at least 20 different languages.

Multiple Industry Awards

AvaTrade has won multiple industry accolades from reputable outlets, such as The European, International Business Magazine, FXEmpire, and Daytrading.com.

Aspect	What we like
Regulation	Licences from several first-tier regulators
Trading	Strong selection of forex instruments and metals
Pricing/costs	Spreads are competitive, costs are low
Platforms	Strong functionality on OANDA Trade
Mobile trading	Similar functionality to OANDA Trade desktop platform
Developers	Strong API guides and functionality
Research	Great content on Market Pulse
Education and Webinars	A wide-ranging selection of topics to learn about

Regulation

For many people in trading, picking a broker that's well-regulated is super important. If a broker has a bunch of licenses from different places all over the world, that's a good sign that they can be trusted. So, when it comes to this, OANDA is one of the best. Lots of brokers might have licenses in, like, three or four areas. But OANDA really does more for its customers. They've got licenses in nine different places. Also, it's key to know that they're watched over by some of the strictest financial groups out there, like the FCA in the UK and ASIC in Australia. Here’s where OANDA has licenses and who keeps an eye on them:

	The United States of America	OANDA Corporation, regulated by the Commodity Futures Trading Commission (CFTC)/ the National Futures Association (NFA).
	Canada	OANDA (Canada) Corporation ULC, regulated by the Canadian Investment Regulatory Organization (CIRO)
	The UK	OANDA Europe Limited, regulated by the Financial Conduct Authority (FCA)
	The UK	OANDA Coinpass Limited (trading as OANDA Crypto), regulated by the Financial Conduct Authority (FCA)
	Asian Pacific	OANDA Asia Pacific Pte Ltd, regulated by the Monetary Authority of Singapore (MAS)
	Japan	OANDA Japan Inc, regulated by the Financial Services Agency (FSA)
	Australia	OANDA Australia Pty Ltd, regulated by the Australian Securities and Investments Commission (ASIC)
	Europe (Malta)	OANDA Assessments Limited, regulated by the Malta Financial Services Authority (MFSA)
	British Virgin Islands	OANDA Global Markets Ltd, regulated by the BVI Financial Services Commission
	Poland	OANDA TMS Brokers S.A., regulated by the Polish Financial Supervision Authority (KNF)

This regulation thing is pretty important for traders; it builds trust. But there’s more to it. Basically, since OANDA has a bunch of licenses, folks worldwide can trade with them. Some forex brokers can’t work in certain countries if they don’t have the right papers. Like, many brokers outside the US, Canada, and Japan don’t go for licenses there because it’s a pain and costs too much. So, traders in those spots can’t use them. But because OANDA’s got licenses for important places, they’re open to traders everywhere.

Plus, having a license in the British Virgin Islands is cool because it gives traders more choices. They can sign up in a place where they can use way more leverage when they’re trading on margin.

Signing up for OANDA took us around ten minutes. Here’s what the sign-up process looks like, including the questions they’ll ask:

After giving your registration and personal details, you are then asked to complete a fairly extensive “Appropriateness Assessment”. We believe that this part of the process is positive as it suggests integrity. It is also one of the more rigorous sign-up procedures you will come across. The test includes questions on:

Forex pairs

What CFDs are

Margin

Volatility

What the spread is, and what a “variable” spread is

An explanation of what a market gap is

Risk management

Leverage

To prove your address, please send us a recent bank statement or a utility bill. The broker also needs pictures of the front and back of the card you’re planning to use, or a screenshot of your e-wallet. Once you send all that stuff, OANDA will check your ID, which might take a few days. After that, you’re all set to put money in and start trading.

Another good thing is that OANDA doesn’t require a minimum deposit. New users can put in as little or as much as they want. Feel free to open your account, try out the demo, watch some webinars, and get a feel for your trading plan before using real money.

OANDA keeps it simple with three account options: Standard, Premium, and Premium Plus, unlike some brokers that offer a ton of choices.

This is the account that all traders default on to.

For a fee of $400 per month, traders get additional account functionality, including a dedicated relationship manager and priority service. It also provides additional functionality on the trading platforms. There needs to be a minimum of $20,000 on deposit to have this account.

OANDA’s trading accounts have small differences depending on the region. Check out the account comparison in the picture below.

Feature	Standard	Premium	Premium Plus
48 FX pairs
CFDs on major indices, commodities, metals, and bonds
Institutional-grade execution (less than 1 millisecond on V20 platform)*
Deposit Amount	$0	$10,000	$50 million notional monthly trading volume
Dedicated account manager
Web and desktop platforms, MT5 and mobile apps
Unlimited free wire transfers
No requotes
Fully automated execution
24/5 support
Minimum contract size of 0.01 lots
OANDA trading performance analysis dashboard
MT5 open order indicator	Updates every 20 minutes	Updates every 5 minutes	Updates every 5 minutes
Priority service queues
Joint account
Corporate account

OANDA also lets clients trade with APIs. APIs are basically automated trading. A lot of traders use them to tweak their trading strategies. To help traders begin, OANDA has a developer portal with resources and code examples. Just open an OANDA account, pick an API, and create your strategy.

Because OANDA has offices all over that follow different rules, what you get in your account can change based on where you live.

Here are the main variables and the regions where they are available:

Account optionality	Region availability
Spread-only vs Core Pricing model	US and Australia
Guaranteed Stop-Loss Orders (GSLO)	Singapore and Australia
Spread betting accounts	The UK only

Back in September 2018, OANDA rolled out a different pricing setup in some areas. You can pick either the usual spread-only way of pricing, or go with their Core pricing that adds a commission. With Core pricing, the spreads are way tighter, but you’ll pay $5 commission for every $100,000 you trade of the base currency. That’s like paying 0.5 pips for a standard lot of EUR/USD. If you look at the spreads they show on their site, using a commission-based account to trade 1 lot of EUR/USD actually works out cheaper overall.

This feature enables OANDA customers in the US and Australia to reduce their costs, especially when trading high volumes. Here is a table of average spreads for the different models:

Core pricing vs spread only
FX pair	Spread only	Core pricing
AUD/USD	1.1	0.3
EUR/GBP	1.1	0.2
EUR/JPY	1.6	0.6
EUR/USD	1.0	0.1
GBP/JPY	1.0	0.3
GBP/USD	1.2	0.1
NZD/USD	1.4	0.4
USD/CAD	1.5	0.3
USD/CHF	1.3	0.1
USD/JPY	1.1	0.1

The table below illustrates how traders can reduce their costs by using the core pricing and commissions account, based on average spreads. We show the total trading cost incurred by both models when opening a 1 lot ($100,000 traded) position in EUR/USD.

*Costs of opening a trade on Spread-only vs Core pricing account**
Pricing option	Cost
Spread-only pricing
Spread	1.0 pip
Total costs of opening the position	$10.00
Core pricing + Commission
Spread	0.1 pips
Spread cost	$1.00
Commission	$5.00
Total cost of opening the position	$6.00

If you’re trading from places such as Australia and Singapore, you can get Guaranteed Stop-Loss Orders. They make sure you get a set price when your positions automatically close.

When things get really wild in the market, prices can jump around fast, and stop-losses might not work as planned. GSLOs can keep you safe from big losses for a small fee (like A$2 per lot in Australia).

UK clients can reduce their tax bill by trading over 100 instruments across all the asset classes through a spread betting account. Spread betting means that any profits are exempt from capital gains taxes in the UK.

Brokers always charge fees because, well, they need to make money. These fees can really cut into your earnings each month, so keeping them low is key. You want a broker with the lowest fees possible.

At BestBrokers.com, we think OANDA has really competitive fees. So, what fees might you see?

These expenses are typically categorized into two main groups:

Costs/fees	What is this?	At OANDA?
Spreads	The cost is built into the price of what you trade. A wider bid/ask spread leads to higher costs.	Largely competitive average spreads
Commission	A flat fee paid per position	A $5 commission paid per standard lot in forex with Core Pricing accounts
Financing charges	The costs of holding a position open overnight	Fairly standard formula
Deposit fees	Fees charged by the broker to fund your account.	None (see more in Deposit Methods below)
Withdrawal fees	Fees charged by the broker to withdraw money from your account.	$20 for bank transfer withdrawals (see Withdrawal Methods below)
Inactivity fees	Fees charged when your trading account has been dormant for a period of time	$10 per month after 12 months
Currency conversion fees	Fees charged on positions not denominated in your base currency	A 0.5% mark-up on the midpoint exchange rate

Trading spreads are competitive. OANDA has spread from 0.1 pips on EUR/USD and GBP/USD. Transparency in pricing is crucial for brokers, and OANDA’s website features a market board displaying live spreads in real time.

Instrument	Standard Account	Core Pricing Account
EUR/USD	1.0	0.1
GBP/USD	1.2	0.1
USD/JPY	1.1	0.1
USD/CHF	1.3	0.1
AUD/USD	1.1	0.3
USD/CAD	1.5	0.3
NZD/USD	1.4	0.4

OANDA’s minimum spreads are pretty similar to what you see from other big players like them. Just keep in mind, things can get a bit wider sometimes, so the average spread ends up being a bit bigger. Here’s a table that stacks OANDA’s standard-account spreads against other brokers. It shows the lowest and average spreads for the main currency pairs. Overall, we think OANDA holds up well.

	OANDA		IG Markets		FXCM		CMC Markets
Instrument	Min.	Avg.	Min.	Avg.	Min.	Avg.	Min.	Avg.
EUR/USD	1.0	1.6	0.6	1.0	0.0	1.3	0.5	n/a
GBP/USD	1.2	1.9	0.9	1.66	0.0	1.7	0.9	n/a
USD/JPY	1.1	1.6	0.7	1.12	0.0	1.4	0.7	n/a
USD/CHF	1.3	1.8	1.5	2.15	1.1	0.3	1.2	n/a
AUD/USD	1.1	1.3	0.6	1.01	0.0	0.2	0.6	n/a
USD/CAD	1.5	1.9	1.3	2.46	0.0	0.3	1.3	n/a
NZD/USD	1.4	2.4	1.8	2.70	0.0	0.3	1.7	n/a

If you’re in a place where Core Pricing is offered, you can pay a commission on each trade to get better spreads. It’s $5 per standard lot (that’s 100,000 currency units) whether you’re buying or selling.

Just a heads-up: if you hold onto your trades overnight, you’ll have to pay some extra financing costs. These are called swap rates or rollovers, and they change every day, depending on the interest rates of the currencies you’re trading. OANDA updates these rates daily, so you can always check what they are. Some people forget about these fees, so it’s good to keep them in mind!

OANDA doesn’t charge fees when you put funds into your account. Still, the payment companies might have their own fees, so check out Deposit Methods for the full scoop.

Withdrawal fees vary based on

The first withdrawal of the month is always free of charge, although charges are levied on subsequent withdrawals – for more details see Withdrawal Methods.

If you have money in your account but aren’t trading, your broker will begin to charge you a fee after some time. This is known as an inactivity fee, and it’s quite common among brokers. There are a couple of things to keep in mind:

At OANDA, inactivity fees begin to be levied after 12 months of no trading activity. This is up to a maximum of $10 (or £10 in the UK) per month.

A 12-month period before inactivity fees are applied is fairly standard; six months is short, but 24 months would represent a significantly longer timeframe.

If the money your account uses is different from the money used by the thing you’re trading, you’ll have to pay a fee to change the money. Like, say your account is in British pounds, but you wanna trade something like the S&P 500 index. That trade is done in US dollars. So, if you make money, they’ll charge you a fee to turn those dollars back into pounds.

At OANDA, this charge is 0.5%, which is fairly average across online brokers.

We believe that OANDA compares well to rival brokers in terms of trading costs and fees.

OANDA provides traders with a choice from :

There is one proprietary platform plus two additional white-label options to give clients a varied choice of trading platforms.

OANDA’s proprietary platform has strong functionality. Some of the functions and features of the platform include:

Customizable platform layout
Trade and manage positions directly from charts
More than 10 chart types
More than 50 drawing tools
Market news and analysis
Identical desktop and web-based platforms

We also really like the ability to overlay multiple currency pairs onto a single chart for comparison. This is a function that is not seen on other platforms like MT5 and is a strong feature of the proprietary software.

The platform is also available in many languages, including English, French, German, Spanish and Japanese.

Most brokers use the MT5 platform, but OANDA’s version is better. They’ve added their bridge, so you get good prices and faster trades. Plus, if you upgrade to the premium MT5, trading gets even better, like more order options and ways to handle your trades. You also get 21 different chart timeframes, Level II pricing, and Expert Advisors (EAs) if you want to automate things.

Oanda’s custom-built bridge enhances the standard MT5
Advanced order types and trade management functionalities
21 charting timeframes for detailed technical analysis
Level II pricing and support for EAs
Integrated economic calendar

OANDA now works with TradingView, giving you a third platform option. Like with MT5, you still get OANDA’s straightforward pricing and quick trades. TradingView’s best stuff includes:

Hundreds of charts and indicators
Custom technical indicators
Social trading, enabling you to view other user’s trading ideas and use community-built indicators
Integrated economic calendar
Strategy backtesting

The mobile version of OANDA Trade (OANDA Mobile) is another strong feature. As with other brokers, the app is available for Android and iOS devices.

	Android	iOS
Minimum System Requirements	6.0 and up	15.0 and up
User Rating	4.1 / 5 on Google Play	4.7 / 5 on the App Store
User Reviews	7,400+ on Google Play	21,600+ ratings on the App Store
Supported Languages	English, German, Japanese, Chinese	English, German, Portuguese, Japanese, Chinese (Simplified and Traditional), Italian, Spanish
Forex Pairs	48	48
Other Tradable Assets	Indices, stocks, cryptocurrencies, commodities, ETFs	Indices, stocks, cryptocurrencies, commodities, ETFs
Features	9 chart types, 11 charting tools, 50 technical indicators, economic calendar	9 chart types, 11 charting tools, 50 technical indicators, economic calendar
Biometric Authentication	N/A	Yes
2-Factor Authentication	Yes	Yes

You can trade various things here, like forex, indices, metals, commodities, and even cryptocurrencies. Keep in mind that bonds and ETFs? You can only trade them in some places. The selection may not be as big as what other brokers carry.

Asset Class	How Many Instruments	Selection
Forex	48	Average
Indices	18	Good
Metals	5	Average
Commodities	9	Good
Bonds	62	Very Good
Stocks	1,600+	Poor
Others (ETFs, futures, crypto)	390*	*only in select jurisdictions

N.B. CFDs and precious metals are not available to traders in the US.

They have a very strong offering of forex pairs to choose from. Looking across several brokers, OANDA offers a good selection of 48 pairs including majors, crosses, and exotics. Some competitors will offer perhaps less than 40 pairs, so we see OANDA as being strong on forex.

At OANDA you can trade 18 of the world’s major stock market indices. All of the usual major US and European indices are available, in addition to Asian indices from China, Hong Kong, Singapore, India, and Taiwan.

OANDA is great if you trade metals. They’ve got gold, silver, platinum, copper, and palladium. What’s cool is you can trade gold and silver in different currencies, not just USD. Want gold priced in Canadian dollars or silver in Japanese yen? No problem. They also offer prices in Hong Kong and Singapore dollars.

There are a total of 5 metals markets to choose from, which we believe is a solid enough offering.

You can also pick from 9 other things like crude oil and natural gas for energy, or cocoa, sugar, and wheat if you’re into the food stuff. It would be cool if they had more base metals like iron ore and zinc, but overall, the choices are pretty good.

Not many brokers offer their customers the ability to trade bonds. However, at OANDA, there is a selection of over 60 popular government bonds. You can trade 10yr bonds from the UK (Gilt), Germany (Bund) and the US (Treasuries), in addition to three other durations of Treasuries.

OANDA is great because it lets you trade stocks. You can pick from tons of shares from big companies in the US, UK, France, Germany, and other big countries. Plus, you can sort your stock picks by area or industry, like health, tech, or finance.

OANDA lets you trade ETFs, but not options or futures right now. Also, if you’re in the US, you can’t trade CFDs since they’re illegal there. Traders in places like Australia and Europe can do it, though. In the UK, you can trade CFDs, but you can’t trade crypto with borrowed money unless you’re a pro trader.

It is rare for brokers to offer these types of products (especially futures and options), however where crypto is offered, we believe a selection of 18 markets is satisfactory.

OANDA is very strong when it comes to trade execution. Here is why:

No dealing desk execution: the fully automated execution not only enhances speed but also improves trust in the broker.
The incredibly fast server speed is considered to be “institutional-grade execution”(less than 1 millisecond on the V20 platform)
No re-quotes on all orders traded at market prices. Also, no automated rejections occur, either.

You don’t need any minimum deposit to start an account with OANDA. Also, they don’t require a minimum balance for the standard account. But, if you want a Premium or Premium Plus account, there are minimum requirements. OANDA offers a few ways to deposit, but what’s available depends on where you live.

Method	Jurisdiction available	Limit?	Notes
Debit Card	US, UK, EU, Aus, RoW	$50,000 in Europe	No fees on the broker’s side
Credit Card	UK, EU, Aus, RoW	$50,000 in Europe	No fees on the broker’s side
Internet banking	UK, EU, Aus, RoW	$50,000 in Europe	Suitable for first-time depositors
Bank wire/SWIFT wire	US, UK, EU, Aus, Canada, Singapore, RoW	No maximum limit	Up to 3 business days to clear
Neteller, Skrill	Most countries worldwide	n/a	The e-wallet providers may charge fees
Alternative Payment Methods	Local payment methods vary based on country	Not specified	3 to 5 business days
Other methods	Singapore	n/a	PAYNOW, DBS

OANDA doesn’t charge deposit fees, but your bank might. Some deposit methods have limits, but bank transfers don’t have a max. Getting your money in is usually quick, only slowed down by the bank’s processing time.

At OANDA, the withdrawal methods and costs vary based on:

Method	Jurisdiction available	Notes
Debit Card	US, UK, EU, Aus, RoW	1 to 3 business days
Credit Card	UK, EU, Aus, RoW	1 to 3 business days
Internet banking	AUS, Singapore	2 to 5 business days
Bank wire/SWIFT wire	US, UK, EU, Canada, Aus, Singapore, RoW	2 to 5 business days
Neteller, Skrill	Available in most countries	1 business day

For most ways to get your money out, like cards and e-wallets, the broker doesn’t charge extra fees. But, if you use a bank transfer, the first one each month costs $20, and any after that in the same month will be $35 each. If you’re moving money to e-wallets such as Skrill and Neteller, it should happen on the same day. Bank transfers might take two to five business days. Also, if you’re withdrawing in a currency that’s not the same as your account’s main currency, there’s a 0.5% fee to change the money over.

The support pages are written in a variety of different languages, including English, French, Spanish, Portuguese, and Malay. Just click on the flag to select the required country and you will be redirected to the website version in your preferred language.

Support Contact	Available	Response
“Help Portal” FAQs	24/7	Website
Online chat (OANDA Assistant)	24/7	Instant
Email contact	24/5	Within a few hours
Telephone contact	9:00 to 17:00 CET on weekdays only	Within minutes

If you can’t find your answer in the FAQ, try the OANDA Assistant chatbot. It speaks English, Spanish, German, and Japanese and can help you right away. Just keep in mind it’s a robot! But if you have a Premium or Premium Plus account, you get your own account manager. If you prefer to talk to a real human, you can call OANDA. Click on your regional office to find the right phone number. If you’re in Europe, there are local numbers for Poland, Germany, Spain, France, the Netherlands, Italy, Latvia, Lithuania, and the Czech Republic.

Beyond that, there is email support at info.eu@oanda.com. This is useful if perhaps your issue or query is more complex and cannot be addressed adequately by the chat bot.

It is also worth noting that OANDA’s customer service is award-winning. In 2021, the broker won an award for Best Client Satisfaction for Mobile Platform and/or App.

OANDA is a solid place for traders to find research and learning stuff. They have a Market Pulse section for research (it’s like its own site) and a Learn section with loads of learning materials. They also have some good webinars about what’s going on in the markets and different ways to trade. Plus, if you’re a developer, there’s a really helpful guide on using their API.

Research – “Market Pulse”

OANDA has a recognized, active research team providing broad market coverage and analysis across multiple asset classes and timezones.

Content available:

News reporting, commentary, and trading idea
Technical analysis on markets
Podcasts
Video analysis and commentary
The week ahead on key markets
Economic calendar

Check out the education section for tons of free articles about becoming a better trader. There are how-to guides, pages, and videos on a lot of different topics, including:

Webinars are a great way for traders to get to know a broker and learn more. OANDA has lots of webinars you can join. Some are open to everyone, but you need to sign up for the good stuff. They do live market analysis every week and have training webinars on different subjects. You can also watch past webinars if you give them your contact info, and account holders get access to even better content.

When you’re trading with a broker, keeping your account safe is super important. That’s why we at BestBrokers.com always say: stick with brokers that are properly watched over. OANDA is strongly regulated, which really helps keep your trades secure.

Should OANDA face insolvency, the safety of your funds will depend on the regulator governing the entity with which your account is registered. For instance, traders covered by the UK’s Financial Services Compensation Scheme (FSCS) are protected up to £85,000, while in Canada, the compensation extends to C$100,000. It is important to note that offshore regulators like BVI Financial Services Commission may offer less protection.

As an added element of security, OANDA also segregates the funds of clients from its operating capital. All decent brokers would do this anyway, but this also helps prevent misuse of customer funds on behalf of unethical companies.

Entity	Regulator	Amount covered	Negative Balance Protection
OANDA Corporation	CFTC (US)	Unspecified
OANDA (Canada) Corporation	IIROC (Canada)	C$100,000
OANDA Europe	FCA (UK)	£85,000
OANDA Asia Pacific	OANDA Asia Pacific Pte Ltd, regulated by the MAS (Singapore)	Unspecified
OANDA Australia	ASIC (Australia)	Unspecified
OANDA Japan	IFFA (Japan)	Unspecified
OANDA Europe Markets	MFSA (Malta)	Unspecified
OANDA Global Markets	FSC (British Virgin Islands)	Unspecified

Retail clients trading under OANDA Europe Limited and OANDA TMS Brokers S.A (from the UK and the EU) also benefit from negative balance protection. This means that clients cannot lose more money than they deposited.

At BestBrokers.com, we think OANDA is one of the top forex brokers out there. It’s got solid regulation, people trust it, the platforms are great, and there’s plenty of research info available, so it hits a lot of good points.

The only downside is they don’t have futures or options; CFDs are the only choice right now. Unlike some similar brokers, OANDA doesn’t have a ton of metals and soft commodities, but they make up for it with lots of stocks, ETFs, and currency pairs. Basically, we think OANDA is a great broker.

Oanda

Key Pros and Cons

Company Information

Changing The World

The Future Is Now

Management

Catering to Traders Worldwide

Multiple Industry Awards

Why Trade with OANDA?

Regulation

Regulation

4.5/5

KYC Procedure for Account Creation and Depositing

Account Opening

4.5/5

Account Types

Standard Account

Premium Account

API Trading

Account Functionality Offered Only in Certain Regions

Spread-Only and Core Pricing Models

Guaranteed Stop-Loss Orders

Spread betting available for UK clients

Account Types

3/5

Trading Fees and Other Costs

Spreads

Commissions

Spreads & Commissions

4/5

Financing Charges

Deposit fees

Withdrawal fees

Inactivity fees

Inactivity Fees

3.5/5

Currency Conversion Fees

Overall on Fees

Trading Fees and Other Costs

4/5

Desktop Trading Platforms

OANDA Trade

MetaTrader 5

TradingView

Desktop Platforms

4/5

Mobile Trading Platforms

Mobile Trading

4.5/5

Trading Instruments

Forex

Indices

Metals

Commodities

Bonds

Stocks

Other Asset Classes

Traded Instruments

4/5

Trade Execution

Trade Execution

4.5/5

Deposits

Deposits Methods

4.5/5

Withdrawal Methods

Withdrawal Methods

4/5

Customer Support Contacts

“OANDA’s Award-Winning Customer Service

Customer Support

4/5

Research and Educational Materials

Webinar Content

Research & Education

4.5/5

Security and Money Guarantees

Security of funds

3.5/5

Conclusion