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OANDA


 

                 
  Company information

  Broker's name: OANDA Corporation

  Website: www.oanda.com  

  Headquarted in New York

  Regulated by: NFA, DFSA, MAS,

                                IIROC, FSA, CFTC 

  E-mail Address:   frontdesk@oanda.com 



There is only one standard type of trading account at OANDA. On the one hand, this limits clients’ choice; on the other, it means that all account holders are treated equally.

To make things even better, this broker doesn’t require any minimum deposit, nor minimum trade size. However, you need to have at least $1 in your account balance in order to initiate a trade.

 Security of Funds


OANDA Corporation is a registered Futures Commission Merchant and Retail Foreign Exchange Dealer with the Commodity Futures Trading Commission and is a member of the National Futures Association.

Brokers that are registered with the NFA are obliged to comply with an extensive set of rules. Unfortunately, these rules are often limiting from traders' point of view, but there is no way around them. For instance, hedging is not allowed and leverage is limited to 1:50, while European brokers are free to provide leverages up to 1:1000 or even higher than that.

All OANDA Subsidiaries, including OANDA Asia Pacific Pte. Ltd. (Singapore), OANDA (Canada) Corporation ULC (Canada), OANDA Europe Limited (UK), OANDA Japan Inc. (Japan) and OANDA Australia Pty Ltd. (Australia) are duly licensed and regulated by the respective bodies.

Minimum Initial Deposit 

OANDA has no minimum deposit requirements for opening an account. This makes it attractive for risk averse or inexperienced traders who are not willing to invest a large amount of money.

Average spreads & Commissions

This broker offers variable spreads, the average ones on EUR/USD amounting to 1.4 pips, which is on the upper end of average. Clients, however, take advantage of commission-free trading, as OANDA doesn’t charge any commission for their trading services, nor any account maintenance fees. Instead, the broker gets its remuneration through the spread.

Maximum Leverage

OANDA offers a maximum leverage level of 1:50 on FX products, which is quite low, however, the broker has no choice, since US regulator has set a

 limitation on leverage ratios. CFTC limits leverage available to retail forex traders in the United States to 1:50 on major currency pairs and 20:1 for all others.

Trading Platforms

Oanda provides its clients with a choice of threetrading platforms: its custom-made fxTrade, Protrader Multi-Connect (PTMC) and the popular MetaTrader 4.

fxTrade comes in desktop, web and mobile versions. It has a simple, yet effective interface, and what is more important – superb execution speed. According to OANDA`s website, this platform executes 98% of trades within 0.057 seconds or less, which is super-fast.

Furthermore, fxTrade is equipped with intuitive and powerful charting features, multiple sub-accounts to test different trading strategies and financial news and market analysis from leading news providers.

We presume that fxTrade is aimed mostly at new traders, since it has all the usual functionalities, but more advanced features are missing.

In addition, Oanda offers the powerful MetaTrader 4, which is highly regarded by the online trading community mostly because it allows users to fully automate their trades. By choosing from a wide range of Expert Advisors (EAs), traders may sit back, while the program does all the work. What is more, it offers a number of  technical indicators, extensive back-testing environment and advanced charting package. 

Methods of Payment

OANDA offers its clients various methods to deposit/withdraw funds to and from their accounts. They vary, depending on the OANDA division of registration, but the main payment modes are debit/credit card, bank wire, checks, PayPal and UnionPay.



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