OANDA Review
Introduction and Background information
Established: 1996
Address: 135 West 41st Street New York NY, 10036, United States
Oanda does not restrict scalping. You can scalp as you want OANDA is regulated in six tier-1 jurisdictions. OANDA is not publicly traded and does not operate a bank.
OANDA operates across eight global financial centers, serving clients in over 196 countries through its entities licensed in six major regulatory jurisdictions, including the US, UK, Canada, Australia, Japan, and Singapore.
Account types
Minimum Trade Size: 0.001
Maximum Leverage: 50:1
Minimum to Open Live: $1
Instruments
Currencies: 71
CFD: 53 Gold, Silver, Other Precious Metals, Oil, Other Commodities, cryptocurrency.
Education
OANDA offers a broad range of research for forex traders. For example, news headlines on OANDA’s MetaTrader4 (MT4) platform stream from Reuters, MarketPulse, MarketWatch, Mainichi, and CNBC, among other providers.
Regulation
OANDA is authorised by the following regulators: Australian Securities & Investment Commission (ASIC), Investment Industry Regulatory Organization of Canada (IIROC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Financial Conduct Authority (FCA), and the Commodity Futures Trading Commission (CFTC).
Trading platforms: MT4, WebTrader
OANDA’s trading platform suite, fxTrade, is suitable for charting and news but lacks in other areas. OANDA’s flagship fxTrade platform is available for web, desktop, and mobile. Powered by TradingView, charting offers over 80 indicators and additional features, such as the ability to overlay multiple currency pairs within a single chart for comparison. I also appreciated the fact that both the web-based and desktop versions of fxTrade were identical to each other, making swapping between both painless.
Additional platforms are available from third-party developers within OANDA’s Marketplace, including the Seer Trading Platform, which supports algorithmic trading system development, including back-testing and forward-testing automated trading systems. OANDA also supports trading connectivity to multiple charting platforms such as NinjaTrader, MultiCharts, and MotiveWave.
For traders who prefer MT4, OANDA also offers the MetaTrader4 (MT4) platform.
Deposit and Withdrawals
Deposit Methods: Bank Wire, VISA, MasterCard, ACH Payments (echeck), BPAY, CHAPS, Check, DBS Bill Payment, Local Bank Deposits, Local Bank Transfers, Payment Asia, PayNow, PayPal, SEPA Credit Transfer (SCT), SWIFT
Withdrawal Methods: VISA, MasterCard, Check, Local Bank Transfers, PayPal
Fees (spreads/commission)
For trading forex, there is no added commission, the only cost to trade is the spread that Oanda charges.
For example, the average non-core pricing at OANDA was 1.2 pips on the EUR/USD pair during Q1 2019.
Execution
Customer Support
+61 2 8046 6258
Promotion
Conclusion
