It is always great to see a broker show that they care about clients having the tools at their disposal to make informed trading decisions. This platform is perhaps the most popular when it comes to forex trading and has become a standard among many brokers and millions of traders worldwide. The MT4 platform is intuitive, versatile, fully customisable and packed with a vast array of essential tools useful to traders. OANDA presents MT4 as a downloadable desktop application and as mobile trading apps. I have used MT4 for many years and find it perfect for analysing the markets using various indicators and running automated trading systems.

As more and more traders and investors use their smartphones for trading, it is increasingly important that brokers offer easy-to-use apps that can deliver the same services as desktop platforms. New traders who are just gaining their footing in the forex market will appreciate the platform’s simple layout and intuitive candlestick and line charting features. More experienced traders will appreciate the platform’s advanced charting options, including Renki and Kagi charts. OANDA’s oanda broker review analysis tools allow traders to test their strategies using common coding languages and analyze the effect of economic news directly on charts. The target market for such features tends to be experienced traders who need advanced analytics and resources to deploy, test, and manage trading strategies in real time. OANDA offers clients exposure to a variety of financial instruments but is a good fit for seasoned traders looking for a stellar browser-based desktop trading experience.

There are trading guides covering different types of trading. In addition to this, there are articles explaining basic concepts which beginners may find useful if they are just getting started with online trading. I was really impressed with the abundance of high-quality educational content that is provided free of charge. I think this would be highly beneficial to traders of all experience levels.

For example, withdrawals from USD or EUR accounts cost $/€20; while in many regions, subsequent withdrawals in the same calendar month cost even more, typically $/€35. To get things rolling, let’s go over some lingo related to broker fees. What you need to keep an eye on are trading fees and non-trading fees. OANDA’s trading tools are excellent compared to other similar brokers. Overall, OANDA’s account-opening process is quick and efficient, and accounts are generally ready for trading within one business day. Account-opening process is seamless and hassle-free compared to other brokers, and we were pleased that our trading account was ready for trading within a day.

You can trade on all of your devices via user-friendly platforms with excellent trading conditions and no commission fees. OANDA’s trading platform offers 10 chart types, a variety of indicators and 32 overlays. This makes it an excellent choice for both beginner and experienced traders. U.S. clients have the option to https://forexarena.net/ participate in OANDA’s Advanced Trader program which is a four-tiered reward system and premium account for high-volume traders. Benefits include spread or commission discounts, assignment to a “dedicated relationship manager,” API support, free VPS and wire transfers, and discounted access to third-party platforms.

But I feel some competitors seem to have some very odd volatility that you generally don’t see on Oanda. Personally wouldn’t trust any broker than isn’t on trading view. Do not trust oanda.com you will never profit from them when you place trade they will keep you from your area to profit if its a big lot size. They will do there best to make sure you lose no matter how much you know about trading any currency pair. I found another Forex trading platform I liked more, so I decided to move on but left my Oanda account open after withdrawing my balance …

Mobile trading apps

The high number of reputable regulatory bodies guarantees security for Oanda’s clients. However, the lack of negative balance protection and the fact that the broker does not keep funds in segregated bank accounts is a downside. This consists of daily commentaries and video analysis as presented by OANDA analysts.

Furthermore, this means OANDA can be a broker for traders in many jurisdictions that other companies do not have a presence. Many brokers will have licences in maybe three or four regions. However, OANDA goes the extra mile for their clients, with regulatory licences in eight jurisdictions.

Oanda gets a high grade for this criterion – the broker is reliable. A number of licenses issued by top regulators is the key instrument of protection of investors. Good statistics in the European countries, the U.S. and Canada is quite logical, as the broker holds licenses in these regions and has concentrated its efforts on attracting customers there. No, if you have received a deposit bonus from OANDA this is not cash to withdraw, but trading credit that you can use. The British pound continues to rally and is up for a fourth straight day.

Trading Platforms at OANDA

Those who do not have $10,000 to qualify for the Advanced Trader program can open a standard account, which has no minimum. This account lacks benefits such as a relationship manager and free wire transfers. We publish unbiased product reviews; our opinions are our own and are not influenced by payment we receive from our advertising partners. Learn more about how we review products and read our advertiser disclosure for how we make money. “We recently conducted a review of your account and unfortunately we are unable to continue to offer you the service.

Oanda is a globally recognised, retail trading platform, currency data and analytics company. The company was founded in 1996 by Dr. Michael Stumm, and now operates across the globe in over 196 countries. Where many brokers may have rested upon their accomplishments, Oanda has pushed to maintain its position at the forefront of the forex industry. There are advanced charting options with more than 60 different indicators available and the ability to customize almost every display chart within the platform based on your needs.

Oanda –is a comparatively small, but high-quality niche broker. It provides access to trading Forex and different classes of CFDs. As of today, Oanda does not provide any bonuses or have any promo offers for its customers. Compared to XM and XTB, Oanda has a much better selection of currency pairs. The broker does not provide direct access to the stock market. This broker certainly cannot compete with the market giants, such as Saxo Bank or Interactive Brokers, although within its niche, this broker is quite competitive.

You can view an average, minimum and maximum spread calculated over 15-minute time intervals. As you zoom out, this data may be reduced to 1-hour intervals. The main reason I like this tool is you can check to see if the spreads are suitable at certain times you plan on trading. I use scalping systems so the tool can help me to identify hours when the spreads are lowest.

Inactivity Fees

We aim to help you find the best broker according to your own needs. The topics covered are market commentary, chart analysis, weekly outlook, technical and fundamental analysis. This is also prepared and presented by the team of analysts at Oanda.

More experienced traders will find the pattern-matching engines and volatility analysis particularly helpful. Oanda is also known for its currency transfer services as well as MarketPlus trading analytics. Please read Oanda reviews below and share your live trading experiences. The minimum deposit for Oanda can be any amount and it doesn’t depend on the Oanda account types.

Customer Service and Languages supported

The platform offers a flexible and convenient trading environment for traders of all skill levels. The web version runs directly in the browser and thus, works on every operating system in most modern web browsers. The desktop version is installable on Windows and offers a fully customisable user interface. The mobile version is designed for Android/iOS devices and is useful for those who need to access their account and trade whilst on the go. I am a big fan of the app as I like to take the markets with me in my pocket and check my account whenever I feel like it. I think this is a very user-friendly platform that has enough features and functionalities for most traders.

A market maker with an impressive history and a large non-CFD business, OANDA is relatively disappointing compared to other leading CFD providers. Beginner traders will find OANDA a relatively welcoming experience with a well-structured education section available for traders with different levels of experience. Considering OANDA’s history as an FX data service, it’s no surprise that the market analysis is detailed and excellent. However, customer service in Malaysia is limited in scope. Despite the poor regulatory oversight and small range of trading instruments, OANDA is a good all-round broker.

• OANDA’s Core Pricing account, on the other hand, is commission based.
• OANDA Europe Limited offers ESMA-mandated negative balance protection, while OANDA Asia Pacific Pte.
• In recent years, OANDA has set up offices around the world, becoming the largest foreign fx broker in Japan, in addition to being one of the leading brokers in the US.
• I would say MT4 will be sufficient if you are primarily looking to trade forex.
• Authorized and regulated by a government agency in several counties like USA, Canada, UK, Australia, & Asia.

The longer track record a broker has, the more proof we have that it has successfully weathered previous financial crises. Oanda has seven legal entities, each serving clients from different parts of the world. This is important because the investor protection amount and the regulator differ from entity to entity.

Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site. As an added element of security, OANDA also segregates its clients’ funds from its resources. All decent brokers would do this anyway, but this also helps to protect clients’ money if OANDA became insolvent.

Customer support

Limited availability for chat and phone support aside, OANDA’s representatives were courteous and knowledgeable when they were accessible. Oando has a relatively straightforward and competitive fee structure. Besides the abovementioned trading fees, there are a few non-trading fees, such as withdrawal and inactivity fees. MultiCharts is a charting platform that is a standalone trading platform in its own right. Features and highlights include high-definition charting, built-in indicators and strategies, one-click trading from the chart and DOM . You can also use the platform for high-precision backtesting and automated trading execution, for those who prefer algorithmic trading.

I still keep a small account with Oanda, but it is for experimentation only. You cannot have two positions in opposite direction and therefore hedge. If you are short and place a stop buy order above your initial entry the platform will liquidate the initial position and you will be flat.