Oanda is a US-based broker that was founded in 1995. It is a forex and CFD broker that has a global presence because of its impeccable trading services. Rest assured that Oanda is a safe broker for your trading activities since the broker has high-end authorities supervising its activities.
- User-friendly trading platform and account opening procedure.
- Excellent research resources.
- Amazing mobile trading app with fast trade execution speed.
- Free transactions.
- Low trading fees.
- Customer service is available five days a week.
- Charges a $13 monthly inactivity fee should your trading account remain dormant for over 12 months.
Oanda – Who Are They?
Oanda is one of the best forex and CFD brokers with global recognition. This means that it is regulated by multiple authorities, including the Investment Industry Regulatory Organization of Canada (IIROC), and more.
If you are new to Oanda, opening a trading account is quick and straightforward. This means that you will complete the account opening process in a few minutes and have it verified in a few hours before you jump into the financial markets.
Other than the proprietary platform, Oanda supports the MT4 platform that has an intuitive design. You will also enjoy advanced MT4 premium tools that will improve your overall trading experience.
Thousands of tradable assets are available on Oanda’s modern-design trading platforms. In addition, the broker supports traders with excellent research materials, including over 50 technical indicators, charting packages, and drawing tools. This allows you to enter the financial markets confidently and come out with an excellent analysis for your trade.
The trading fees on Oanda are low, with spreads starting from 1 pip on EUR/USD. Non-trading charges such as transaction and inactivity fees are also low, making Oanda a primary choice for budget-conscious clients. Additionally, Oanda does not have a minimum deposit requirement, allowing you to start trading with as little as you can afford.
Compare Oanda With Other Brokers
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Our Opinion About Oanda
Our review on Oanda reveals that the broker is generally user-friendly for trading forex and CFDs on indices and commodities. Therefore, if you want to trade real assets like stocks, cryptocurrencies, bonds, and more, you may want to reconsider another option.
Oanda supports the MT4 platform, which works exceptionally well on both web and mobile devices. Forex trading on this broker provides access to over 45 currency pairs, which are adequate for traders looking for various currencies to trade with.
The MT4 platform has fantastic trading tools and learning resources. This means that learning has now been made easy, and traders should take advantage of such opportunities. You can also learn forex and CFD trading using its demo account that is fully loaded with virtual funds to get you trading for free.
Another impressive feature about Oanda is its customer support. Although it is only reachable five days a week, it is very reliable and provides relevant solutions to any trading issues that you may encounter. Feel free to contact them via email, phone, and live chat.