To understand whether Oanda is suitable for you or not, I recommend to pay attention to these 3 things: reputation, trading conditions, and regulation.
For how long the company is in the market?
- Oanda is in the market since 1996.
What are the main advantages here?
- The main advantages of Oanda are the multicart trading platform and also lab.
Did you find any reasons not to work with this broker?
- We did not find any reason not to open an account to test this company.
Does Oanda have swap-free (Islamic) accounts?
- Yes, Oanda is suitable for Arabic traders.
What is the minimum deposit amount?
- It is possible to start trading at $100.
What this broker regulated?
- Yes, Oanda is regulated by CFTC, NFA, FSA, IIROC and MAS.
Anything special about spreads and margin leverage?
- This is one of few brokers that offer good conditions on trading Bonds.
|Avg rebate per lot||$0.00|
|Trading platform||OANDA fxTrade, OANDA fxTrade on MetaTrader 4, fxTrade Mobile , fxTrade API|
|Regulation||CFTC, NFA, FSA, IIROC, MAS|
|Minimum trade size||0.00001|
Suspicious reviews that we found
I noticed that OANDA increased the spreads in EU/US over the years while falsely advertising low and competitive spreads.
Large spreads resulted in large losses because orders were not executed due to the large spread.
OANDA has presently lawsuits in New York district court and Santa Clara Superior court, California for false advertising and fraud.*
*The review was found on ForexPeaceArmy. Meanwhile, we have no tools to check if this review is real and if the issue is resolved or not.