An international financial company providing a range of trading and investing services to its users.
1996
140 Broadway, 46th Floor New York, NY 10005 USA
The following link will take you to account opening.
No
National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC)
See below
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.
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.
Please note that the above securities were correct as at the time of publication.
Since then it is likely the above list has evolved.
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.
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.
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.
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.
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.
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:
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:
By following these steps, you can easily place a trade on the OANDA platform and start participating in the financial markets.
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.
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:
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.
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:
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.
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.
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.
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.
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.
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.
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.
OANDA CORPORATION IS A MEMBER OF NFA AND IS SUBJECT TO NFA'S REGULATORY OVERSIGHT AND EXAMINATIONS. HOWEVER, YOU SHOULD BE
AWARE THAT NFA DOES NOT HAVE REGULATORY OVERSIGHT AUTHORITY OVER UNDERLYING OR SPOT VIRTUAL CURRENCY PRODUCTS OR TRANSACTIONS OR VIRTUAL CURRENCY EXCHANGES, CUSTODIANS OR MARKETS
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
OANDA is a trusted broker that is regulated in multiple Tier-1 jurisdictions, including the United States, United Kingdom, Europe, Australia, Japan, and Canada.
OANDA provides investors with two distinct account models: Spread-Only Model and Core Pricing Account. Each of them comes with a different pricing structure.
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.
Yes, OANDA offers leveraged trading. The maximum leverage is different for different instruments and it can reach 50:1 at the maximum.
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.
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.
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.
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