General information
Oanda is a great trading platform that offers a wide variety of high-quality tools and features for both web and mobile versions. It has numerous charting options, technical indicators, automated strategies, economic calendars, and more. The pricing is competitive, and their customer service team is helpful and well-informed. Oanda also provides an educational section for beginners to learn the basics of forex trading and develop their successful trading strategies. Additionally, their order execution is fast and accurate, and the platform is easy to use even for novice traders. All in all, Oanda stands out as a reliable and trustworthy broker. Overall, we highly recommend Oanda for its comprehensive trading products, competitive pricing, and customer service. Its user-friendly interface makes it suitable for both beginners and experienced traders alike.
Oanda is a global Forex broker that specializes in providing retail traders with access to the foreign exchange market. It has been in business since 2001 and is regulated by the Financial Conduct Authority (FCA) in the UK. Oanda offers over 70 currency pairs, several commodities, indices, stocks, and metals for trading. The broker also provides advanced charting tools, expert advisors (EAs), automated strategies, and more for experienced traders. Oanda also offers educational resources such as tutorials, webinars, and seminars on forex trading topics. With competitive spreads and low commissions, Oanda is an attractive choice for both beginner traders and experts alike.
Features of use
The Oanda platform is easy to use and highly customizable. It offers a wide range of charting tools, technical indicators, economic calendars, and more. Additionally, the broker provides automated strategies as well as Expert Advisors (EAs) for trading. The user-friendly interface makes it suitable for both beginner and experienced traders alike. With competitive spreads and low commissions, Oanda stands out from other brokers in terms of pricing. Additionally, their customer service team is helpful and responsive.
| Grid trading: | Manage multiple positions on different markets without the need to manually adjust each trade. |
| Trailing stops: | Automatically adjusts your stop order when the price moves in your favor, protecting profits from unfavorable market moves. |
| Charting tools: | The platform's advanced charting package includes a variety of technical indicators and drawing tools. |
| Mobile trading: | Download the Oanda mobile app for iOS and Android devices to trade from anywhere. |
| Customer service: | 24/7 customer support via email, live chat, or telephone. |
Safety
Oanda is a regulated broker by the Financial Conduct Authority (FCA) in the UK and follows strict rules for protecting customers’ funds and data. As such, traders can rest assured that their funds are secure with Oanda. The broker also utilizes top-level encryption technology to ensure the safety of all online transactions. Furthermore, Oanda offers free demo accounts that allow users to practice trading without investing real money. This is an excellent way for traders to gain experience before committing actual funds to live trading accounts. Overall, Oanda is a reliable and trustworthy broker that offers a wide range of quality trading tools and features. With competitive spreads, low commissions, fast order execution, and a helpful customer service team, it stands out from other Forex brokers. Additionally, its user-friendly interface makes it suitable for both beginner and experienced traders alike.
Exchanges Supported
Oanda supports over 70 currency pairs, several commodities, indices, stocks, and metals for trading. This includes major currencies such as the US Dollar (USD), Euro (EUR), British Pound (GBP), Japanese Yen (JPY), and Swiss Franc (CHF). Additionally, Oanda offers to trade in AUD/CAD, EUR/NZD, GBP/CHF, and other popular cross-currency pairs. Traders can also access a variety of commodities such as oil and gold as well as stock index CFDs from the leading exchanges around the world including the NASDAQ 100 and S&P 500 indices.
Price range
Oanda offers competitive spreads and low commissions. The broker also provides free demo accounts for traders to practice trading without investing real money. Additionally, the pricing is tiered based on account size which allows traders to get better deals as their trading capital increases. Furthermore, Oanda does not charge any inactivity fees or withdrawal fees. Overall, Oanda stands out from other brokers in terms of pricing and makes it an attractive choice for both beginner and experienced traders alike.
Customer Support
Oanda’s customer service team is knowledgeable and responsive. The broker offers 24/7 support via phone, email, and live chat. The customer service team is quick to respond to inquiries and provides helpful advice for any issues that arise. Additionally, the broker has a comprehensive FAQ section on its website which provides answers to common questions about trading with Oanda. Overall, Oanda stands out from other Forex brokers in terms of pricing, order execution speed, and customer service. Its user-friendly interface makes it suitable for both beginner traders and experts alike. With competitive spreads and low commissions, Oanda is an attractive choice for anyone looking to start trading forex or build a successful trading strategy.
Review Summary
| Pros | Cons |
|---|---|
| • Access to more than 70 currency pairs and CFDs | • Not available in all countries |
| • Competitive spreads | • Margin requirements may be high for some traders |
| • Risk management tools | • Limited range of stocks and other assets |
| • Automated trading options | • No guarantee of profitable trades |
| • Educational resources such as market analysis, webinars, and more | |
| • 24/7 customer service via email or live chat |
Summary
In conclusion, Oanda is an excellent Forex broker offering competitive spreads, low commissions, and fast order execution. With its user-friendly interface, extensive experience in the industry, and helpful customer service team, it stands out from other Forex brokers. For beginner traders looking to get started in Forex trading or experienced traders looking to perfect their strategies, Oanda is an excellent choice.