Oanda Review
Updated regularly · Independent ratings
Overall Rating
4.6 / 5
Fees
4.4 / 5
Safety
4.7 / 5
Platforms
4.6 / 5
Education
3.9 / 5
Min. deposit
$0
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the risk of losing your money.
Oanda — At a Glance
Full broker data from our database
| Minimum deposit | $0 |
| Broker type | Market Maker |
| Spread type | Variable |
| Spreads from | 0.6 |
| Commission | $0 |
| Maximum leverage | 1:200 |
| Minimum lot size | 0.01 |
| Maximum lot size | 600 |
| Decimal pricing | 5 decimals |
| Trading platforms | Web, Mobile, TradingView, MetaTrader 4 (MT4), MetaTrader 5 (MT5) |
| API access | Yes |
| VPS | Yes |
| Demo account | Yes |
| Segregated account | Yes |
| Swap-free account | Yes |
| Managed account | No |
| PAMM / MAM account | No |
| Joint account | Yes |
| Copy trading | No |
| Social trading | No |
| Account currencies | USD, GBP, EUR, AUD, CAD, HKD, CHF, SGD, JPY |
| One-click trading | Yes |
| OCO orders | Yes |
| Trailing stop loss | Yes |
| Hedging allowed | Yes |
| Scalping allowed | Yes |
| Interest on margin | Yes |
| Bonuses | Yes |
| Contests | No |
| Regulators | FCA (United Kingdom), CTFC (United States), NFA (United States), MFSA (Europe), CIRO (Canada), ASIC (Australia), MAS (Singapore), FFAJ (Japan), FSC (British Virgin Islands) |
| Headquarters | 17 State Street, Suite 300, New York, NY 10004-1501, USA. |
| International offices | United States, Canada, United Kingdom, Singapore, Australia, Japan, British Virgin Islands, Poland, Malta |
| Assets offered | Forex, CFDs |
| Payment methods | Bank Transfer, ACH, Credit Card, Debit Card, Wise, Paypal, Skrill, Neteller |
| Languages | English, Spanish, French, Dutch, German, Italian, Chinese, Thai, Vietnamese, Portuguese, Bahasa Indonesia, Bahasa Malaysia |
| Customer support | Email, Phone, Live Chat, Whatsapp, Facebook Messenger, SMS |
| Contact email | frontdesk@oanda.com |
| Minimum deposit | $0 | Social trading | No |
| Broker type | Market Maker | Account currencies | USD, GBP, EUR, AUD, CAD, HKD, CHF, SGD, JPY |
| Spread type | Variable | One-click trading | Yes |
| Spreads from | 0.6 | OCO orders | Yes |
| Commission | $0 | Trailing stop loss | Yes |
| Maximum leverage | 1:200 | Hedging allowed | Yes |
| Minimum lot size | 0.01 | Scalping allowed | Yes |
| Maximum lot size | 600 | Interest on margin | Yes |
| Decimal pricing | 5 decimals | Bonuses | Yes |
| Trading platforms | Web, Mobile, TradingView, MetaTrader 4 (MT4), MetaTrader 5 (MT5) | Contests | No |
| API access | Yes | Regulators | FCA (United Kingdom), CTFC (United States), NFA (United States), MFSA (Europe), CIRO (Canada), ASIC (Australia), MAS (Singapore), FFAJ (Japan), FSC (British Virgin Islands) |
| VPS | Yes | Headquarters | 17 State Street, Suite 300, New York, NY 10004-1501, USA. |
| Demo account | Yes | International offices | United States, Canada, United Kingdom, Singapore, Australia, Japan, British Virgin Islands, Poland, Malta |
| Segregated account | Yes | Assets offered | Forex, CFDs |
| Swap-free account | Yes | Payment methods | Bank Transfer, ACH, Credit Card, Debit Card, Wise, Paypal, Skrill, Neteller |
| Managed account | No | Languages | English, Spanish, French, Dutch, German, Italian, Chinese, Thai, Vietnamese, Portuguese, Bahasa Indonesia, Bahasa Malaysia |
| PAMM / MAM account | No | Customer support | Email, Phone, Live Chat, Whatsapp, Facebook Messenger, SMS |
| Joint account | Yes | Contact email | frontdesk@oanda.com |
| Copy trading | No |
Pros & Cons
Pros
- +Strong global regulatory framework
- +Fast and easy account opening
- +Low forex trading fees
- +Multiple fast and secure payment methods
- +No minimim deposit
- +Negative balance protection
- +No deposit and Withdrawal fee
- +Multiple account currency options
- +Outstanding research tools
- +Demo account for practise trading
- +User-friendly mobile and web platforms
- +Supports Tradingview, MT4, and MT5
- +No restrictions on trading style
- +Great customer support
Cons
- −Limited product range
- −Average CFD trading fees
- −Inactivity fee after a year of account inactivity
- −No integrated social, copy or PAMM trading feature
- −Educational offering can be improved