OANDA Review

  • Who are OANDA

    An international financial company providing a range of trading and investing services to its users.

  • Year founded


  • Address:

    140 Broadway, 46th Floor New York, NY 10005 USA

  • Account opening

    The following link will take you to account opening.

  • Minimum deposit


  • Regulated by

    National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC)

  • How does OANDA earn a profit?

    See below

Open Account
OANDA Corporation is regulated by the CFTC/NFA. OANDA is a member Firm of the NFA (Member ID: 0325821). CFDs are not available to residents in the United States.

OANDA (www.oanda.com) boasts of a high level of trust and reliability, as evidenced by its impressive Trust Score of 93 out of 99. While OANDA is not a publicly traded company nor does it operate as a bank, it is subject to regulation by seven Tier-1 regulators, signifying a highly trusted status. Additionally, it is supervised by one Tier-4 regulator, which means that users should utilize a cautious approach to risk management.

Table of Contents

OANDA Tradable Assets

Note that the list of asset classes mentioned here is relevant only at the time of writing. In time, OANDA may start supporting more items.

  • Forex
    The platform offers 68 pairs for forex trading such as USD, JPY, EUR, AUD, and other popular fiat currencies. However, users can also find quite exotic pairs along with popular currencies including, for instance, NZD, CZK, PLN, etc.
  • Crypto
    At present, only individual live trading accounts with OANDA have the option to activate their spot crypto account. The activation process requires approval by Paxos Trust, the provider of exchange and custody services for crypto traders and holders. Corporate accounts, individual retirement accounts (IRA), and eligible contract participant (ECP) accounts are not eligible for activation.

Please note that the above securities were correct as at the time of publication.
Since then it is likely the above list has evolved.

How Much Leverage does OANDA provide?

The maximum leverage available may vary depending on the specific financial instrument. In the United States, retail forex traders are subject to leverage limitations set by the Commodity Futures Trading Commission (CFTC). The maximum leverage allowed is 50:1 for major currency pairs and 20:1 for all other currency pairs.

Does OANDA accept US clients?


Is OANDA regulated and are my funds protected?

The platform is registered with regulatory authorities such as the CFTC and NFA in the United States, as well as the FCA in the United Kingdom.

Account Opening

To begin the application process and create an Oanda account, you need to be at least 18 years old and a legal US resident. As a part of the application, you may be asked to upload documents that serve as proof of your identity and address, such as a valid driver's license. If your electronic identification (eID) verification is successful, you will not be required to submit any additional documentation for proof of identity and address.

Account types

OANDA offers different account types to its users. The official website of the US division says about the capability of users to select between trade, trade demo, and corporate/trust accounts. It is also worth mentioning the level of accounts depending on the trading activity. Traders have standard and Elite Trader accounts with a range of benefits, 24-hour support, and a host of platform features and advantages. 

Standard account

Users with standard accounts have access to 68 trading pairs and can use the platform's mobile apps, as well as MT4 and TradingView. Besides, they can benefit from API trading and receive round-the-clock support on working days. Also, users with standard accounts have access to the MT4 open trade indicator. Yet, it is not updated as often as it is for premium account holders. Updates occur every 20 minutes, compared to every 5 minutes for premium accounts.

Premium account

The premium account offers institutional-grade execution, providing traders with better trading capabilities. Traders who upgrade to the premium or premium plus accounts can join the elite trader group and gain exclusive perks.

The type of an Oanda account is defined by the overall trading volume. Once it reaches 10 million USD, traders become eligible for the Elite Trader Loyalty program, which offers rebates to participants. The rebates range from 5 to 17 USD per million USD traded, thus reducing trading expenses by up to 34%. Premium account holders also enjoy additional privileges such as: 

  • a dedicated relationship manager
  • reimbursement of monthly TradingView subscription fees
  • access to VIP content and events
  • free wire transfers 

How to place a trade

Once you have successfully registered a live account and made a deposit on the OANDA platform, you can proceed with placing a trade. The process involves a few simple steps:

  1. Select a market: Choose the market you wish to trade from the available options.
  2. Choose an instrument: Select the specific instrument or asset you want to trade within the chosen market.
  3. Determine the number of units: Specify the quantity or size of the position you wish to open.
  4. Select an order type: Decide on the type of order you want to use, such as market order, limit order, or stop order.
  5. Configure additional settings: Set any additional parameters required for your trade, such as stop-loss and take-profit levels.
  6. Confirm and execute: Review all the details of your trade and, once satisfied, execute the trade to open your position.

By following these steps, you can easily place a trade on the OANDA platform and start participating in the financial markets.

OANDA customers can select between the following trading platforms:

  • TradingView. OANDA partners with TradingView. Therefore, users can enjoy the best features of OANDA and TradingView, thus getting a smarter trading experience. Users can discover a trading platform where all their tools are available in one place. With TradingView, they can access standard and custom indicators, advanced screeners, and a live news feed. Traders enjoy seamless trading across various devices and become part of a vast community. It contains over 50 million active investors, sharing trading ideas and insights. 
  • MT4. Users can benefit from the integration of OANDA's pricing and execution with the advanced charts and analysis features of MetaTrader 4. By upgrading to MT4 premium, users gain access to more features, including additional indicators and expert advisors (EAs) such as mini charts, OCO orders, tick-chart trading, chart-ladder order entry, five-minute orderbook, automated trading strategies, trade alerts, etc.
  • The award-winning proprietary web platform. Oanda’s web trading platform offers to try its intuitive interface with advanced tech analysis tools and a sophisticated charting package. Traders rely on the platform’s advanced trading technology using a next-gen engine. It provides faster trading times along with a snapshot of pending orders and current positions. 

The mobile platform. The mobile platform of OAND Corporation offers a customizable interface, real-time notifications for market events, and efficient mobile charting capabilities. With personalized settings, you can adapt to market conditions, manage positions, and monitor account profitability. Custom alerts and price signals keep you informed, while mobile charting allows for quick order placement and access to technical tools. 

Account Closing Process

To close your account on OANDA Corporation, you will need to submit a request to the customer support team or your account manager via email. However, before proceeding with the account closure, it is important to ensure that you have fully withdrawn all funds from the trading platform. 

It's worth noting that OANDA Corporation returns the funds to the original source used for depositing. In case you have utilized multiple methods, you will need to withdraw the total sum to each source in the same order of deposit.


OANDA provides clients with a wide array of remarkable features and tools. Here are some of the notable ones:

  • TradingView. This is a leading online investment community with a vast user base of over 16+ million members. In a nutshell, this is a kind of hub for traders where they can create, cooperate, and share trading charts and ideas. 
  • Advanced charting solutions. The feature is available thanks to TradingView integration into many financial exchanges, trading websites, and apps all over the world.
  • Quick Buy and Quick Sell. These features are available for cryptocurrency trading to reduce the risk of potential price slippage.
  • Buy Limit and Sell Limit. Traders can place Buy Limit or Sell Limit orders at a price that can be either lower or higher than the current market price. 
  • Sell Stop. The members of the system are allowed to place sell stop orders 
  • Take Profit or Stop Loss. These are risk management options that can be added to the account.

EliteTrader program. This is a kind of loyalty program that enables its members to get rebates which vary from 5 to 17 USD per 1 million USD traded. 

What Are The Advantages and Disadvantages of Trading with OANDA ?

  • A high-quality mobile app with a plethora of features.
  • Availability of MT4 platform along with VPS services for MT4 hosting
  • Numerous options for algorithmic trading
  • OANDA delivers API as a part of its Algo Labs offering
  • Insufficient video materials
  • The spreads are below average
  • There is no negative balance protection
  • There is no copy-trading feature
  • Hedging is not allowed

Commission and charges


Although the fees are average on OANDA, there are also some extra charges users should know about. For instance, the platform charges inactivity fees. Users are charged a monthly fee of 10 units of the currency in which their account is denominated when there are no open trades for at least 12 months. The platform also charges overnight fees. Deposit and withdrawal fees may apply with respect to your chosen method and the policies of your bank. The platform doesn’t charge fees when receiving wire transfers, debit card payments, and ACH deposits, but banks can incur their own fees.


The pricing policy is clear and transparent. It allows users to select between two pricing models, spread-only pricing and Elite Trading program.

Here are FX pair spreads on the most popular pairs: 

  • AUD/USD 1.4
  • USD/JPY 1.4
  • EUR/JPY 1.8 
  • EUR/GBP 1.7 
  • EUR/USD 1.4
  • USD/CAD 2.2 
  • GBP/USD 2.0 
  • GBP/JPY 3.1 
  • NZD/USD 1.7 
  • USD/CHF 1.8 


OANDA offers a user-friendly and customizable interface for traders. The platform allows users to personalize their default parameters, such as units traded, risk levels, and favorite forex pairs. Traders can react to market activity in real-time, monitor account profitability, and receive custom notifications for price alerts and economic events. 

The interface also provides efficient mobile charting capabilities, allowing for quick order placement and access to a wide range of technical tools. In general, OANDA's interface is designed to enhance the trading experience and provide traders with the necessary tools to make informed decisions.

Does OANDA Offer Demo Accounts?

OANDA provides users with the option of virtual or paper trading, which allows them to simulate real trades. To access this feature, traders can open a free demo account, enabling them to explore and evaluate the service during a trial period.

Value added services

First of all, OANDA is one of the few forex brokers accepting U.S. residents. Advanced charting functionality available on the platform and mobile apps contribute to smarter trading decisions. In addition, OANDA cooperates with Paxos which provides access to spot crypto trading. 

The platform has also created MarketPulse, which publishes professional commentary, covering the situation in the global financial markets on a daily basis.

What Are OANDA 's Opening Hours?

The trading hours on OANDA align with the global financial markets. Trading is accessible from Sunday 5 pm to Friday 5 pm (New York time). However, it's important to note that these trading hours may be subject to changes during daylight saving time adjustments and specific public holidays.

Customer Services

OANDA offers users an informative Help Portal as around-the-clock customer support is available when the markets are open. Users may reach out to the support service via email or call on the phone number which is toll-free for solving various issues. 

Traders can also rely on live chat where professional members of the team can answer any questions. The chats are available in English and Spanish. The service doesn’t provide Telegram, WhatsApp, and Skype support to users.

Does OANDA Provide Mobile Trading?

OANDA provides native mobile applications for convenient trading on the go. These apps are designed for Android, iPhone, and tablet devices. The OANDA mobile apps grant users access to a wide range of currency pairs and popular cryptocurrencies, including those offered through Paxos. The OANDA mobile trading apps are compatible with iOS 14 and higher for Apple devices and Android Jelly Bean and up for Android devices.

Does OANDA Provide Trading Education?

OANDA Labs provides traders with an excellent opportunity to enhance their skills through a wide range of high-quality learning materials. OANDA's comprehensive online course consists of 19 chapters that delve into various aspects of technical and fundamental analysis. 

Users can dive into topics such as oscillators, indicators, and risk management, gaining valuable insights and knowledge. While each chapter includes several lessons, it's important to note that some of the accompanying videos focus on platform tutorials rather than in-depth financial market education.

Though some users have also expressed concerns about the limited amount of video content compared to other platforms, OANDA Labs still offers comprehensive educational content that ensures users have a solid foundation and understanding of trading activities.


OANDA Corporation is regulated by the CFTC/NFA. OANDA is a member Firm of the NFA (Member ID: 0325821). CFDs are not available to residents in the United States.


Trading in digital assets, including cryptocurrencies, is especially risky and is only for individuals with a high risk tolerance and the financial ability to sustain losses. OANDA Corporation is not party to any transactions in digital assets and does not custody digital assets on your behalf. All digital asset transactions occur on the Paxos Trust Company exchange. Any positions in digital assets are custodied solely with Paxos and held in an
account in your name outside of OANDA Corporation. Digital assets held with Paxos are not protected by SIPC. Paxos is not an NFA member and is not subject to the NFA’s regulatory oversight and examinations.

Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances. You may lose more than you invest. Information on this website is general in nature. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before

Frequently Asked Questions (FAQs)

Is OANDA regulated?

OANDA is a trusted broker that is regulated in multiple Tier-1 jurisdictions, including the United States, United Kingdom, Europe, Australia, Japan, and Canada.

What is the pricing model for OANDA

OANDA provides investors with two distinct account models: Spread-Only Model and Core Pricing Account. Each of them comes with a different pricing structure.

Does OANDA have a demo account?

Yes, users can benefit from a free demo account for a trial period. It’s possible to simulate real trades to test trading techniques and evaluate the service.

Can I trade with leverage on the platform?

Yes, OANDA offers leveraged trading. The maximum leverage is different for different instruments and it can reach 50:1 at the maximum.

How is my money protected?

OANDA provides different levels of account protection to its clients based on their respective regions, thus protecting their trading accounts. For example, it compiles with such authorities as FCA in the UK and CFTC and NFA in the US.

Does the broker offer an Islamic account?

Yes, Islamic swap-free accounts are available on the Standard Account. Also, the platform doesn’t apply any administration charges for the first five days.

What is the minimum deposit for OANDA?

There is no minimum deposit requirement on the platform. You may deposit as much as you want to.


OANDA stands out with its impressive history and reputation. The facility holds licenses in the most stringent financial centers. It also offers extensive market research content and a top-notch mobile app. Besides, the brand is authorized to serve U.S. residents, setting it apart from many other forex brokers. 

On the downside, OANDA's product offering has a limited range of tradable products. Also, its pricing may not be as competitive as the best low-cost brokers.

It’s also worth adding that in 2023, OANDA was selected the Best in Class for ease of use in the ForexBrokers.com Annual Awards. The title was awarded for the user-friendliness of the system and the high quality of mobile apps. It suits both novices and pro-level traders.

Open Account Demo Account
OANDA Corporation is regulated by the CFTC/NFA. OANDA is a member Firm of the NFA (Member ID: 0325821). CFDs are not available to residents in the United States.

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