Oanda Reviews and User Ratings
Oanda General Information
OANDA is a multi-faced financial services Forex broker based in New York. Available for traders in North America, Europe, and Asia, the company has received several international awards including Best Forex Provider 2012 and Highest Client Satisfaction 2012.OANDA’s primary trading platform is called fxTrade. The broker offers a demo version for as long as a trader wishes to use it. OANDA’s shies away from using the standard MetaTrader 4 platform, but provides full access to MetaTrader4 tools like graphs, algorithms, and customization features.
Features of Oanda
OANDA serves a wide range of traders by delivering impressive trading tools across several easy-to-use and robust platforms. A user-friendly currency converter, available in over 10 languages, appears right on the front page and their Exchange Rate Data Feed can feed directly into your internal systems. The Trade Leader’s Program lets users follow trades of a select group of experienced traders and automatically replicate their trades. API libraries are available so users can build automated Forex trading into their software systems. OANDA prides itself on offering the lowest spreads in the industry. As far as educational tools, OANDA offers the usual videos and webinars, but also suggests books users can purchase to enhance their Forex knowledge.
OANDA offers an impressive set of trading tools and access to one of the largest economical and financial databases in the world. They have a competitive product, especially with their low spreads. OANDA would be a good choice for traders with small to medium size accounts who like to trade in longer timeframes.back to menu ↑
Features and Trading Instruments
- Customer service is available 24 hours a day, 5 days a week via chat, email and phone.
- OANDA doesn’t require a minimum account deposit or enforce a minimum trade lot size and clients have suggested this broker has the highest profitability percentage.
- It is highly regulated by agencies in the U.S, Singapore, Canada, the U.K. and Japan.
- It is a market maker broker, so it is necessary for traders to pull data from another service to compare numbers.
- Minimum Account Size: $1
- Spread: Low/ Fixed
- Trading Instruments: Forex, Gold, Metals, Commodities, CFDs
- Trading Platforms: MT4, Mobile Trading(fxTrade), Web Trading(fxTrade)
- Margin Call Level: 2%