{"id":505560,"date":"2023-07-12T03:02:00","date_gmt":"2023-07-12T03:02:00","guid":{"rendered":"https:\/\/www.publicfinanceinternational.org\/?p=505560"},"modified":"2023-07-12T09:42:16","modified_gmt":"2023-07-12T09:42:16","slug":"oanda-review","status":"publish","type":"post","link":"https:\/\/www.publicfinanceinternational.org\/oanda-review\/","title":{"rendered":"OANDA Review"},"content":{"rendered":"
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\"Oanda<\/figure><\/div>\n\n\n
Visit Oanda >><\/a><\/center>\n\n<\/div><\/div><\/div>\n\n
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Oanda (short for Olsen & Associates) is Forex and CFD broker. The company was founded by Dr. Stumm and Dr. Olsen in 1996. This US-based forex broker has global operations in over 196 countries. It provides the clients with all types of \u201ccurrency-related\u201d and online brokerage services. As a leading multi-asset broker, Oanda offers services in over 100 financial instruments. It specializes in a range of FX and CFD products like currency pairs, commodities, indices, bonds, and metals.<\/p>\n\n<\/div><\/div><\/div>\n<\/div>\n<\/div><\/div>\n\n\n

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Summary<\/h2>\n\n\n\n

OANDA is an excellent trading platform with powerful research and trading tools. It is a high-quality forex and CFD<\/a> broker, offering great technical indicators and an API offer. Opening an account is easy and straightforward, while the product portfolio is limited to CFDs and forex. <\/p>\n<\/div><\/section>\n\n\n\n

Feature<\/th>OANDA<\/th><\/tr><\/thead>
Website<\/td>www.oanda.com<\/a><\/td><\/tr>
Founded<\/td>1996<\/td><\/tr>
Headquarters<\/td>New York, USA<\/td><\/tr>
Bank<\/td>No<\/td><\/tr>
Regulation<\/td>Commodity Futures Trading Commission (CFTC) and National Futures Association (NFA)
Europe: Financial Conduct Authority (FCA)
Japan: Financial Services Agency (FSA)
Asia (excluding Japan): Monetary Authority of Singapore (MAS)
Australia: Australian Securities and Investment Commission (ASIC)
Canada: Investment Industry Regulatory Organization of Canada (IIROC)
Malta: Malta Financial Services Agency (MFSA)<\/td><\/tr>
Demo Account<\/td>Yes<\/td><\/tr>
Instruments Available<\/td>Forex, CFD, Cryptocurrency, Spreadbetting<\/td><\/tr>
Minimum Deposit<\/td>$0.00 (Standard Account)
$20,000 (Premium Account)<\/td><\/tr>
Minimum Trade<\/td>$0.00<\/td><\/tr>
Trading Platform (fxTrade):<\/td>MT4, Desktop, Web, Mobile (Android\/iOS)<\/td><\/tr>
Copy Trading<\/td>Yes<\/td><\/tr>
Base Currencies<\/td>9<\/td><\/tr>
Payments Methods<\/td>Debit Cards, Bank Transfer, Cheque, Swift, Payoneer<\/td><\/tr>
Islamic Account<\/td>Yes<\/td><\/tr>
Our Score<\/td>4.5\/5<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Pros and Cons of Oanda<\/h2>\n\n\n\n

The best thing about Oanda is its user-friendly trading platform and advanced research tools to guide investment decisions. It operates globally and abides by regional regulations such as CFTC, FCA, FSA, IIROC, ASIC, and MAS. These regulations add to the credibility and trustworthiness of Oanda. Its fxTrade platform comes with an impressive range of data visualization and analytical features, which is a rare thing in any retail trading platform.<\/p>\n\n\n\n

One downside is that OANDA does not offer \u201cnegative balance protection\u201d for its US traders. Even though it boasts to trade in over 100 instruments, those are limited to FX and CFD. Oanda is a private company and not listed on a stock exchange<\/a> and has no banking background.<\/p>\n\n\n\n

Pros<\/th>Cons<\/th><\/tr><\/thead>
User-friendly trading platform<\/td>Limited product portfolio (FX and CFDs)<\/td><\/tr>
Advanced research and analytical tools<\/td>No \u201cnegative balance protection\u201d for US Traders<\/td><\/tr>
Licensed by trustworthy regulatory bodies (CFTC, FCA, FSA, ASIC, IIROC, MAS)<\/td>No banking background<\/td><\/tr>
Easy to get started with<\/td>Customer service<\/td><\/tr>
Offers over 100 trading instruments<\/td><\/td><\/tr>
Available in desktop, web, and mobile version<\/td><\/td><\/tr>
Accepts US Traders<\/td><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Comparing Oanda to Similar Brokers<\/h2>\n\n\n\n

As an intelligent investor, you should consider different brokers before settling with the best one that matches your investment needs. As specified above, there are pros and cons to every broker. Each of them varies in terms of their cost structure, trading platform, data analytics, customer service, and other aspects. In this context, we conducted a detail research regarding the best alternatives to Oanda. You will find the following comparison table useful.<\/p>\n\n\n\n\n\n\n\t\n\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t
Broker<\/th>Oanda<\/th>XTB<\/th>eToro<\/th>Plus500<\/th>\n<\/tr>\n<\/thead>\n
Founded<\/td>1996<\/td>2002<\/td>2007<\/td>2008<\/td>\n<\/tr>\n
Headquarters<\/td>New York<\/td>Poland<\/td>Tel Aviv, Israel<\/td>Tel Aviv, Israel<\/td>\n<\/tr>\n
Regulation<\/td>CFTC\/NFA, FCA, FSA, MAS, ASIC, IIROC, MFSA<\/td>FCA, Cyprus Securities and Exchange Commission (CySEC), Belize International Financial Services Commission (IFSC), Dubai Financial Services Authority (DFSA), Dubai International Financial Center (DIFC),Financial Sector Conduct Authority (FSCA)<\/td>FCA, CySEC, ASIC<\/td>ASIC, FMA, FSCA,FCA, CySEC, MAS<\/td>\n<\/tr>\n
Minimum Deposit<\/td>$0<\/td>$0<\/td>$50<\/td>$100<\/td>\n<\/tr>\n
Withdrawal Fees<\/td>Yes (varies with withdrawal method)<\/td>Yes (varies with withdrawal method)<\/td>$5 withdrawal fee<\/td>No<\/td>\n<\/tr>\n
Negative Balance Protection<\/td>No<\/td>Yes<\/td>Yes<\/td>Yes<\/td>\n<\/tr>\n
Inactivity Fees<\/td>No<\/td>Yes<\/td>Yes<\/td>Yes<\/td>\n<\/tr>\n
Instruments Available<\/td>100+ (FX and CFDs)<\/td>4000+ (FX, Commodity CFDs, Indices, Stocks, Cryptocurrency)<\/td><\/td><\/td>\n<\/tr>\n
<\/td><\/td><\/td><\/td><\/td>\n<\/tr>\n
2000+<\/td>2500+<\/td><\/td><\/td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n

Regulation<\/h2>\n\n\n\n

You should always conduct a background check of the broker company regarding their regulatory status before entrusting them with your hard-earned money. Since Oanda operates globally in more than 196 countries, it is authorized and licensed by a number of international regulatory bodies.<\/p>\n\n\n\n

Oanda and its subsidiaries around the world hold a strong legitimate status based on their compliance with the following regulatory standards:<\/p>\n\n\n\n