OANDA review: Examine the pros and cons

It was co-founded by Dr. Stumm and Dr. Olsen in the year 1996, claims that it handles “all things related to currency,”. From currency conversion to offering FX services for companies to providing a reputable international online brokerage service to those who want to trade in CFD and CFD and retail FX as well as CFD markets.

In the world, oanda forex offers two account types, premium and standard as well as a catalog of products which offers a variety in CFD as well as spread betting options across a range of asset classes, however they are not all accessible in all regions it serves. Alongside FX and CFDs, the broker provides metals, indices bonds, and commodities to offer trading opportunities in all financial markets.

OANDA

It provides its customers with various levels of protection to their accounts, based upon the location. OANDA Europe Limited offers ESMA-mandated negative balance protection, whereas OANDA Asia Pacific Pte Ltd. has a guarantee for stops loss on orders. U.S. clients are the only exception since OANDA Corporation does not offer clients any protections like this.

A well-organized site with an explicit goal of transparency, with a strong emphasis on research and education for customers. As well as multiple user interfaces and worldwide regulatory oversight put OANDA among the top three of forex brokers online.

Who is OANDA Is For?

The offerings of the broker vary depending on the region. For instance, U.S. clients can only trade FX However, the broker offers fast and reliable execution of trades as well as research tools which are superior to industry standards and user-friendly interfaces that are functional, and a proven history of oversight by regulators.

Pros

• We accept U.S. clients
• The regulation is overseen through FCA and NFA
• Well designed platforms
• Excellent research options

Cons

• No protection of account available to U.S. clients
• There is no guarantee of stop loss to U.S. or U.K. customers
• The traders are unable to access cryptocurrencies or single-stock CFDs
• Many of the ancillary fees

Pros and Cons of the Book

• does not provide “negative Balance Protection” to U.S. clients. That means U.S. traders with negative account balances could be left with a debt towards the brokerage.
• is not able to offer guaranteed stop loss order (GSLO) in the case of U.S. or U.K. customers.
• doesn’t offer ETFs, individual stocks industries, cryptocurrencies or individual sectors that limit its CFD offer to 55. This is a significant reduction from its rivals.
• charges a monthly inactivity fee in addition to fees for deposits/withdrawals, bank wire transfers, debit card, and ACH transactions.

Costs

like the standard in the world of brokerage is able to generate revenue through the spread it offers to clients. The spread structure is simple and comprises of two pricing options “spread solely” as well as “core pricing plus commission.” 5 The first generates revenue via trading transactions with customers which “cross” between the spread between bid and ask while the latter is a way to add the base fee that is $50/million to the spread. It is in the same level with industry standards. Commission charges are consolidated and credited to the client’s account accounts in cash adjustment.

The pricing options can be accessible at the OANDA website(s) as well. They are available for all account types that the broker provides however the spreads shown can differ. For instance the spread for EUR/USD minimum is for U.S. clients on a “standard” account with the “spread only” model is 1.3 pip however”core pricing and commissions” models show a spread of 0 “core price + commission” model has the spread as raw, which is 0.4 pip.

Trade Experience

Additionally, it offers the renowned MetaTrader 4 (MT4) download for desktops, as well as mobile to trade on portable smartphones.

fxTrade the primary customer interface well-designed and allows clients to access trading instruments, complicated orders, as well as account statistics. The desktop version of the application offers custom charting and advanced charting provided by a third-party company Tradingview. Customers can make the most of OANDA’s research options that include MarketPulse along with Autochartist technical analysis straight from the platform, although they will be able to access the services as a web-based page. Its “order book” shows the sentiment of clients as well as “depth of market (DOM)” gives information on the supply and demand dynamics. In addition, a wealth of useful instruments and tools, such as Dow Jones FX Select news and various calculators that makes the fxTrade platform an outstanding trading platform.

The website-based version comes with charts from Tradingview that feature advanced studies and display styles , along with many of the functions of the download version. Customers also have the option to trade directly from charts. Other options include custom-designed watches, feeds of news and choices for research (economic analyses, MarketPulse) that open on a browser along with API-based access.

Trade Experience

provides customers with “a robust and flexible trading experience” through a partnership with third party service providers MultiCharts, CQG FX, and TradingView. Additionally they also offer VPS services via third-party suppliers BeeksFX, Liquidity Connect, and Commercial Network Services (CNS).

fxTrade provides four standard types of orders with the possibility of adding ” take profit” or ” stop loss” orders to them. 7 There is also the option of an “trailing stop loss” order. Users can also choose to set their stop and limits based on the price or pips, as well as relevant information like “pip value,”” “trade value” and “margin needed” are displayed on the order form itself.

• Market

• the simplest order in which a trader indicates that their trade request must be completed at the current market rate.
• Limit – A pending trade where the entry occurs at a specific level below or above the current market rate based upon whether the trade is a purchase or sell. The trader is also given the option to choose the expiration date of the order.
• Stop – A pending order in which the entry occurs at an unspecified level between or above the current market price, based upon whether the trade is a purchase or sell. The trader is also given the option of choosing the expiration date of this particular order.
• Stop-Limit – A pending trade where the entry occurs at an undetermined level either above or below the current market price. Depending upon whether the trade is a purchase or sell, however, the trader is able to choose the upper or lower bound of execution.
  For instance, if the market is in a gap between the rate selected and also the upper or lower bound is reached, the order is cancelled immediately. The trader also has the choice of deciding the expiration time of the order.

OANDA Desktop.

Clients also have the option of using the well-known indicators for metatrader 4 platform to trade. MT4 offers advanced charts, watchlists, studies as well as trade automation via “expert advisory” plugins that traders love. Since it is the case that MT4 platform is an market standard, those who move from OANDA over other brokerages are familiar with its features. On the other hand the design and layout of the software is somewhat outdated, and some features can be cumbersome.

OANDA Desktop

Its FXTrade portable trading system packs many functions in a tiny platform, so that it’s almost as powerful as the desktop app. Users are able to access OANDA’s trading instruments and complex order types and account data all from their mobile devices. Mobile platforms also include charts that have price overlays, indicators and various display styles in addition to the ability trading directly on the chart as with the desktop version. Other features include news feeds , as well as economic analysis. It was great to to conduct our trading and research using a mobile device which felt identical to what we experience on our PC.

The OANDA login page for clients is impressive in terms of its features. It gives the client the ability to manage their account by offering a range of options that let them open interfaces and control particulars of accounts, including making withdrawals or adding funds, registering sub-accounts, changing passwords, logging into APIs and even contacting customer support.

OANDA Account Management.Variety of Option

The variety of services includes:

• Forex
• Bonds
• Precious metals
• Indices
• Commodities

While OANDA offers the necessary amount of diversity to compete in the online broker marketplace However, it’s lacking in some areas. For instance, the broker does not provide ETFs or individual stocks industries, sectoral sectors, or cryptocurrency, which restricts the total CFD offer to 55. This is significantly lower than the other brokers. To give you a little more perspective, other top forex brokers provide anywhere between 1,000 and 10,000 CFDs for customers to select from.

Customer Service

Support for customers at OANDA is available all hours of the day via email. The broker lists its business hours as starting between 1PM on Sundays and Friday 6PM EST , however “live chat” and phone support is not accessible for the full time. There is a limited availability of telephone support and chat aside the OANDA representatives were professional and friendly when they were in contact.

However, this information is probably not enough for both experienced and extremely novice investors.

Education

A collection of educational videos and informative articles is available to both novice as well as experienced investors. Online webinars also are accessible and cover a broad range of topics, including market analysis and platform education economic analysis, Q&A sessions. A few minor issues include that the videos and images utilize different platform, as well as some of the information is not up-to-date in comparison to the latest release of trading platforms. The education content is not all is available in one place it is difficult.

OANDA Education.

Investors who are new will require patience while trying to navigate the education materials. Materials for beginners are good however it’s not organized well. Anyone who is trying to make an action plan and track progress may find it difficult to identify what educational experience was accomplished and what needs to be the next step. A lot of the material was designed to use specific tools, rather than investing expertise. To sum up the content, they were sufficient, but not organised as well as they could be.

Portfolio Analysis

OANDA does not offer tax accounting tools on its platform. Trade isn’t a singular job and increasingly traders are relying on the views and experiences from other trader. Social traders will be disappointed to find their experiences missing with their OANDA platform. Beyond forums, OANDA doesn’t offer any social investment tools.

Research Facilities

“Order book “order book” offers insight into trader behavior and mood. MarketPulse, Autochartist, Dow Jones news and calendars are all designed to give traders an extensive set of analytical tools. For experienced traders patterns matching engines as well as the volatility analysis are particularly useful. The customers who benefit from these tools are typically experienced traders that require advanced analytics and resources to apply the test and monitor trade strategies in real-time.

Research.

It’s not surprising it’s not a surprise that OANDA received multiple “highest satisfaction with customers” awards from Investment Trends research. One potential drawback of having a variety of research and tools is the training and education necessary to take full advantage of the features. provides training and support for the majority of its features and tools however, it’s fragmented and hard to find.

In the end, overall, it’s a solid offering and one that OANDA is able to surpass the industry standard. Investors can expect to learn curve when they attempt to discover all the information they need.

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