Oanda Review 2020

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Oanda Review 2020– Over 90 Currency and Precious Metal Pairs

Oanda is one part of a large corporation that has been in existence since the mid 1990s. It is a foreign exchange company that provides currency conversion, online retail Forex trading, online foreign currency transfers and Forex information. When it comes to choosing a Forex trader there are hundreds to choose from, but there aren’t all that many that have been around for as long as Oanda. In fact, many say Oanda can be considered one of the early pioneers of Forex trader. And after all this time, they must be doing something right to still be in business, and increasing their customer base on a daily basis. One of the great things about Oanda, especially for beginners, is there is no minimum deposit, so there is every opportunity to start with small investments, to be sure that Forex trading is the right form of investment for you.
Oanda, fxTrade and other members of Oanda’s fx family are trademarks owned by Oanda Corporation. Oanda has many faces and provides financial services, acts as a Forex and CFD broker and market maker, and offers its services for traders in Europe, US, Canada, and Asia. It has received several international awards and is licensed and regulated in a number of different countries, including the UK, Australia, and the US.

Rewards Points More than 90 currencies and precious metal pairs

www.oanda.com OTHER BROKERS

Oanda has a lot to offer different traders

Choose Oanda as your broker and there are a number of different markets to choose from. More than 90 currencies and precious metal pairs, along with CFD products that include commodities, bonds, and stock indices. Although we should point out that CFDs or precious metals are not available for trading if you are a resident of the United States.
Forex traders can expect highly competitive spreads, and no commission. There are 40 major currency pairs for trading, all using Oanda’s fx Trade or popular MT4 trading platforms. Indices are used by many traders as a way of speculating on the world’s financial markets, and with Oanda traders can take advantage of the volatility brought about by world events and corporate news to trade stock indices. Bonds can be used by traders who want to diversify their portfolio. Traders can hedge against risk and try to predict future interest rates, while at the same time leveraging the security and stability that government treasuries usually offer. If you prefer to trade CFDs, Oanda offer popular commodities such as wheat, corn, copper, crude oil, and natural gas. Along with precious metals such as gold, silver, and platinum.

Choose between MT4 and the fx Trade Web Trader

For many there won’t be any choice, as MT4 is the preferred trading platform of many traders. But for those looking for something a little different, there is fxTrade Web Trader. It does require JAVA to run, but can be used by traders who want to access the platform anywhere in the world. This is because it is web based, and only requires a secure and reliable internet connection.
Both platforms also have mobile versions. More tech savvy traders also have one more option. By using Oanda fx Trade API libraries they can build their own automated system. We should also mention some rather good trading tools that are offered by Oanda.

  • MotiveWave – A professional charting, technical analysis and trading platform
  • FinGraphs – Provides straightforward tools used to identify trends, highlight risk levels, and calculate possible price targets
  • Market Reports – Powered by Autochartist and giving a quick overview of the state of the markets, and delivered to a trader’s inbox at the start of the trading day
  • Forex Order Book – This summarises open orders and positions, 24 hours a day
  • Currency converter – Accessible via a tab at the top of Oanda’s home page

Oanda have one real account and a demo account for new traders

Only a few basic questions are requested if you choose to open a live account with Oanda, and you can be ready to trade in just a few minutes. There is no minimum deposit amount like many other brokers, which makes it the perfect choice for beginners and those with limited funds. A number of payment methods are accepted, including the most common ones such as bank transfer, and major debit and credit cards.
For beginners there is a great education section, with webinars and investment articles for traders, but it wasn’t as extensive as many of the other brokers we get to review. There is the Oanda Academy with resources to improve trader’s confidence, an instructor-led learning option with live online sessions, as well as an on-demand video library. Also there is the option for self-directed learning covering all the basics as well as looking at technical trading.
We had no problems navigating our way around the Oanda website and opening an account was quick and easy. It is regulated in a number of different countries, which is always going to be a plus. With a great range of products and services, and no minimum deposit requirement we would recommend you give this broker a try.

OANDA Review

Established in 1996, OANDA is a USA forex and CFD broker offering strengths such as the choice of a spread-only or core pricing with spreads from 0.1 pips and the choice of the MT4 or OANDA forex trading platform while weaknesses include weak OANDA reviews and low CFDs leverage levels of just 50:1.

By Justin Grossbard / Updated: Wednesday, March 25th, 2020

OANDA Review Strengths And Weaknesses

OANDA is one of the oldest and largest forex companies in the world, founded in 1996 by Doctors Olsen & Stumm. The market maker is a favourite for forex traders all around the world due mainly because of the following:

View the full OANDA review below with additional information about the global forex broker.

Our Rating

The overall rating is based on review by our experts

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Strengths

1) OANDA Customer Service

In 2020 OANDA won the customer service from Investment Trends in the USA. This is an award voted by active traders in America based on several categories. While they won customer service in the USA, in Australia they have not won since 2020.

OANDA offers customer support 24 hours, five days a week with e-mail, live chat and phone support for Australian forex traders. They also offer Australian forex traders with the opportunity to read the resident blog with Forex Lab Notes on next- generation trading technology, product design and innovation in the forex trading Australia market.

2) Execution Speed Of Orders

OANDA offers a 100% fully automatic platform with no dealer desk intervention maximising the execution speed of trades.

Australian forex traders are offered tools to protect themselves from slippage with the option to set upper and lower bounds to manage fluctuation, set take-profit orders and stop-loss orders to manage downwards risk. Their servers are some of the fastest in the world with 98% of trades executed in less than 0.012 seconds, according to the data collected by January 2020. They ensure there are no re-quotes with all orders executed at market prices and no automated rejections occur, unlike some other brokers.

Typically, OANDA uses price improvement technology to give forex traders an advantage in the market. It sources the best prices from within the liquidity pool to ensure that clients get the best execution prices on every trade. The systems also have the capacity to review voluminous trade data every second. In this manner, OANDA guarantees ultra-fast and intelligent routing of forex trades. The technology will also provide optimal prices in the fast and highly volatile foreign exchange market.

3) Low Spreads & Fees

A key strength found in this OANDA review was their low fees based on there two main accounts:

Spread Only Pricing

This is the default when a forex trader opens a live account on either the OANDA or MT4 forex trading platform. There are no commissions added to these spreads helping calculate brokerage. It’s ideal for those new to forex trading.

Below you can observe Oanda’s real-time spreads. Additionally, this online broker also gives you access to 7-day historical spreads (accessed directly on Oanda.com), for a better assessment of their spread offering.

Core Pricing

This is the preferred choice for experienced forex traders. It attracts a commission of $5.0 ($10.0 round-turn) for 100k traded but on the plus side, there are tighter market-based spreads. This account must be requested after opening a live account.

Currency pair Spread-only pricing from: Core pricing from:
EUR/USD 0.9 0.1
USD/CAD 0.9 0.2
GBP/USD 0.9 0.2
AUD/USD 1.0 0.2
NZD/USD 1.0 0.2

1) Trial Plan

This plan gives clients a free 30- day trial. New clients are encouraged to use this plan to access OANDA’s API to request a maximum of 1000 exchange rates for up to 190 currencies.

2) Premium Plan

The Premium Plan costs $400 a month. On this plan clients get 100 000 monthly daily ask rates, mid and average bids and rates for over 190 precious metals and currencies, among others.

The average spreads on EUR/USD over a 7-day period is around 1.2 pips but in the figure below we can observe how during news events the EUR/USD spread can go as high as 10 pips or even more.

3) Advanced Plan

This plan costs $750 for which clients receive unlimited monthly quotes, period low, high and average rates, phone support and access to the sales engineer for additional integration assistance, among other unique benefits.

On all plans, there is immediate rate settlement so there is no delay in accessing your funds.

OANDA Weakness – Leverage

Oanda offers different levels of leverage, which are based on local regulatory norms. For example:

  • Oanda US offers maximum leverage of 50:1
  • Oanda Europe offers maximum leverage of 50:1
  • Oanda Australia offers maximum leverage of 100:1

The biggest issue that advanced Australian forex traders have with OANDA is the maximum leverage offered which is 100:1. Some currency pairings have even lower leverage including 50:1 and down to 20:1 for some exotics.

As the table above highlights, some Australian forex brokers offer up to 500:1 which is ten times the rate we noticed in our OANDA review of the company. While leverage dramatically increases the risk profile of forex trading it can be essential for many traders forex strategies. For the beginner, intermediate and even those traders with a low-risk acceptance 50:1 may be ideal as this can help protect you from losing your money or the amount you will lose if currency movements are unfavourable but for expert and higher risk traders, another fx broker may be advisable.

What Else Should I Know About OANDA?

a) The Trading Platform

OANDA uses MetaTrader 4, the most popular platform in the world. It also has it’s own OANDA trading platform that in 2020 won the FX awards for the best platform.

At Oanda, forex traders can choose to trade on the proprietary trading platform fxTrade using 3 versions:

  • Desktop platform
  • Web-based trading platform
  • Mobile Apps

For forex traders that are looking for an opportunity to develop their own trading app/software, a Representational State Transfer (REST) application programming interface. OANDA provides this API free of charge to developers and clients who need to build trading strategies and apps on top of OANDA’s award-winning trading platform.

Traders can also use the API to trade through their fxTrade accounts. If you need the API for purposes other than trading, or if you wish to partner with OANDA, you only need to send an email to the support team.

b) The Mobile Trading Options

OANDA has created fxTrade Mobile 3.2 to help traders work from their mobile devices. This is the latest version of OANDA developed native apps for Android, iPad and iPhone devices. It also comes with new technical overlays and indicators, vertical pinch- to- zoom functionality and additional chart types.

Apart from helping traders draw trend lines, the app can be used to identify resistance and support levels and other common chart patterns. The features have also been designed to allow traders to analyse technical data on currencies, financial instruments and other variables anywhere they roam.

The release of this mobile platform speaks to OANDA’s focus on continuous development and improvement. The company has maintained its lead in mobile forex trading capabilities and taken these capabilities to higher steps. Essentially, the mobile apps are at par with the desktop version of the trading platform. Oanda trading Apps support the same advanced charting capabilities as the desktop platform.

From the feedback OANDA reviews from clients (and their mobile trading behaviour), the company knows that most traders are looking for a robust platform they can access instantly. With fxTrade platform Mobile 3.2, you will be able to do so much more than taking peeks at the latest currency pair spread or checking on your position. Instead, you will receive the full desktop trading experience on your current mobile device.

c) Technical Analysis Tools

OANDA uses a cutting- edge trading app with a sleek user interface, enhanced charting functionality and full visibility in pricing to allow for more customisable options to suit your individual needs. The app also allows for easy mobile navigation from a single screen.

New features in the app include:

– New Charts: Close, Bid, Average, Ask, HLC Bars and Heikin- Ashi candlesticks

– New Indicators: William %R, Standard Deviation, StochRSI, Relative Strength Index, Moving Average Convergence/ Divergence, Commodity Channel Index and Average Directional Index

– The Ichimoku Overlay: The sliders accuracy has been improved for use with overlays and indicators.

OANDA has also added the ability to hide empty candles from the “settings menu” and to change the colours of the candlesticks. Further, cross-hairs are now linked to the main graph chart.

d) Australian certification

Finally, although OANDA has subsidiaries in Singapore, Canada, Japan and the United Kingdom, the Forex Trading Australian subsidiary is primarily tailored to serve the needs and interests of the Australian market. When you trade on this platform, therefore, you can be sure that you will be protected by local Australian financial laws, rules and regulations.

Our OANDA review shows the forex trading Australia division is a trusted source and market maker for currency data. Additionally, we found out in our Pepperstone vs OANDA review that OANDA provides Australians with access to one of the largest historical, filtered currency and high-frequency databases in the world today.

When you trade on this platform, therefore, you can be sure that you will be protected by local Australian financial laws, rules and regulations.

e) Minimum Deposit Requirements

When you open an account, OANDA does not have a minimum deposit requirement to open or maintain an OANDA account. If you wish to trade, you will need to make sure you have enough balance to cover margin requirements your trades.

f) Trading Instruments

Oanda offers a range of CFD Trading tools in addition to Forex. These include Bonds, Commodities and Precious Metals. CFDs are complex instruments and require different skills to forex trading, as always there is a high risk of losing investments. Below you can review the extended list of financial instruments that you can trade on Oanda platform.

Oanda
Forex Currency Pairs +71
Index CFDs 15
Commodities 7
Metal 23
Bonds 6

It is well worthwhile signing up for a demo account to learn about trading CFDs. This will give you 100,000 units for virtual money when trading CFDs and practice will help develop your CFD trading skills to reduce your risk of losing money. While Oanda customers can enjoy access to the Forex market, cryptocurrencies are not among their offering. Clients from the United States or Europe can’t trade Bitcoin with Oanda, only Australian residents have the luxury to take advantage of the Bitcoin rise in price.

About Oanda – Brief History

Founded in 1996, Oanda has been in the Forex industry for almost 25 years and it’s considered to be a pioneer of online brokers. The same way Steve Jobs was a pioneer of the personal computer revolution, Oanda brand has revolutionized online forex trading.

Oanda is a global provider of financial services having its headquarters in New York, United States, the heart of the most financially powerful city and the biggest International Financial Centers (“IFC”) in the world. Oanda offices spread across 6 different countries (total of 7 offices) and 4 different continents.

Oanda Corp headquarters is located at the following address: North American Sales 135, West 41st Street, New York NY, 10036, USA.

In 2020, Oanda experienced a notable global expansion after opening is London office. Later on, Oanda UK has become the headquarters for the European traders under the brand name Oanda Europe Limited.

Regulation and Licenses

Oanda is heavily regulated by the most powerful regulatory bodies in the world. Our industry-leading experts discovered that Oanda is also an advocate of regulatory oversight. Additionally, forex customers can benefit from extra protection due to Oanda’s superior risk management technology.

Oanda is required to comply with the standards and financial norms imposed by the world’s leading regulatory agencies from 5 countries:

  • Registered Retail Foreign Exchange Dealer (RFED) with the U.S. Commodity Futures Trading Commission (CFTC)
  • Forex Dealer Member (FDM) of the National Futures Association (NFA license #0325821)
  • OANDA (Canada) Corporation ULC regulated by the Investment Industry Regulatory Organization of Canada (IIROC)
  • OANDA Asia Pacific Pte. Ltd. regulated by the Monetary Authority of Singapore MAS (CMS License No: CMS100122-4)
  • OANDA Europe Limited regulated by the Financial Conduct Authority FCA in the UK, No: 542574
  • OANDA Australia Pty Ltd. regulated by the Australian Securities and Investment Commission (ASIC) AFSL No. 412981

Oanda Funding Methods

Clients of Oanda Europe Limited can fund their live accounts through several deposit methods. Below, we have listed the most popular funding methods offered by Oanda:

  • Debit card and credit card
  • Bank transfers
  • Electronic Wallets (PayPal)

To deposit funds in your fxTrade account, Oanda clients have the option to make a bank transfer directly from your bank account using Faster Payment, Bacs, CHAPS and SEPA payments. Another advantage is that Oanda doesn’t enforce a minimum deposit policy.

Note* when funding your Oanda trading account, you can only deposit $10,000 per calendar month. Additionally, on Oanda.com forex traders can expect:

  • $10 per month inactivity fee enforced after two years of zero trading activity
  • $20 bank withdrawal fee (applied only for the first withdrawal within a calendar month)

Deposit Currency Supported

Our team of experts works around the clock to keep Oanda broker review up to date. The latest conducted research made at the beginning of January 2020 we found that compared to other online brokers, Oanda has a decent range of account base currencies.

Oanda offers its traders a multi-currency deposit solution that supports 9 different base currencies (CAD, AUD, EUR, CHF, GBP, HKD, JPY, SGD, and USD). When compared to Pepperstone, Oanda falls behind on this metric. You can review to complete Oanda vs. Pepperstone comparison HERE.

About Compare Forex Brokers

The forex trading comparison on compare forex brokers was made by experienced individuals who have worked with financial services companies within Australia including a forex player. They understand how hard it is to compare forex brokers and have developed criteria from spreads to leverage to help Australians find the best forex broker for them. Just view our forex broker comparison options on the homepage. If you have any feedback please feel free to use our contact form. You can also view our broker vs broker comparison such as CMC Markets.

If you see any issues with any of our forex broker comparison tables or this OANDA review please contact the owners using the contact form and changes will be made promptly to ensure all forex trading Australia elements are correct.

Published by Justin Grossbard

Wednesday, March 25th, 2020

Объективный обзор OANDA.com

Участвует в таких рейтингах (в скобках указанно место занимаемое в рейтинге):

Обзор

О компании

Брокер за более чем двадцать лет своего существования проделал большой путь. В 2001 г. OANDA стала одной из первых компаний, которая предложила частным трейдерам собственный торговый терминал, открывавший доступ к торговле всеми популярными инструментами. На текущий момент OANDA является крупнейшим мировым брокером, официально работающим в пяти юрисдикциях:

– США, компания OANDA Corporation, регулируется Национальной фьючерсной ассоциацией (NFA № 0325821);
– Канада, компания OANDA (Canada) Corporation ULC, регулируется Организацией по регулированию инвестиционной деятельности Канады (IIROC);
– Европа, компания OANDA Europe Limited, лицензирована и регулируется Управлением финансового надзора Великобритании (FCA), лицензия № 542574;
– Азиатско-Тихоокеанский регион, компания OANDA Asia Pacific Pte. Ltd. регулируется Валютным управлением Сингапура (лицензия № CMS100122-4) и Комитетом по развитию международной торговли Сингапура (IE Singapore), лицензия на коммерческую брокерскую деятельность № OAP/CBL/2020);
– Астралия, OANDA Australia Pty Ltd. регулируется Австралийской комиссией по ценным бумагам и инвестициям (ASIC), ABN 26 152 088 349, AFSL № 412981.

Первое впечатление

Распознавая язык операционной системы и браузера, сайт OANDA сразу предлагает русскоязычную версию. Ресурс выполнен в минималистичном стиле и резко констрастирует с сайтами многих финансовых компаний. Искать нужную информацию довольно просто и это не вызовет сложностей и у новичка. Даже без регистрации трейдерам предлагается множество различных инструментов для анализа рынка, что делает процесс принятия торговых решений комфортным. Аналитические обзоры публикуются на английском языке, что неудивительно, поскольку основная масса клиентов англоязычная. На сайте присутствуют и обучающие материалы, однако они также доступны только на английском языке.

Регистрация

Резидентам Российской Федерации предлагается открыть счет в английском подразделении компании. Для регистрации личного кабинета в OANDA необходимо заполнить форму регистрации. Еще на этапе регистрации ЛК предупреждают, что ваши данные могут быть переданы в национальные налоговые органы для целей налогообложения. Необходимо загрузить документы, подтверждающие личность и адрес проживания, указать источник дохода и дождаться одобрения документов менеджерами компании.

Пополнение и вывод

Операции ввода-вывода денежных средств зависят от того, в какой именно компании у вас открыт счет. Клиенты OANDA Europe Limited могут пополнить депозит банковским переводом через систему SWIFT, с помощью платежных карт, через PayPal, интернет-переводом через системы Faster Payments, BACS и CHAPS. Популярные в СНГ системы WebMoney и Qiwi клиентам недоступны. OANDA не принимает платежи от третьих лиц. Вывод средств возможен только тем же способом, которым было произведено пополнение депозита. В OANDA Europe Ltd. запрещен трансграничный вывод средств: средства, полученные банковским переводом из страны плательщика, должны быть возвращены в ту же страну (страну происхождения средств). Понятие минимальный депозит в OANDA нет, на счет можно перевести любую сумму, позволяющую поддерживать необходимый уровень маржи по выбранному инструменту.

Торговые условия

В силу различных требований финансовых регуляторов, торговые условия заметно отличаются. Максимальное кредитное плечо, предоставляемое американским клиентам составляют 1 к 50, клиентам запрещено хеджирование ордеров и обязательно соблюдение правила FIFO (ордера должны быть закрыты в той же последовательности, в которой открывались). В европейском подразделении предоставляется кредитное плечо от 1:30 на мажорах до 1:10 на кроссах. Для торговли клиентам брокера доступно более 90 валютных пар, а также индексы, сырьевые товары, облигации и металлы. Дополнительные комиссии не взымаются. Спреды вполне конкурентоспособные. Так, например, спреды на пары EUR/USD и GBP/USD составляют 1.3 пункта и 1.9 пункта соответственно.

Торговые платформы

Своим клиентам OANDA предлагает торговлю с использованием собственной платформы и популярного терминала МТ4. Есть вебверсии терминалов для торговли в браузере, а также версии для мобильных операционных систем. Мы протестировали демосчет на интернет-платформе OANDA. Интересной особенностью оказалась возможность открытия ордеров объемом, указанным не в стандартных лотах, а абсолютных единицах. Можно открыть ордер, например, на покупку 37 евро в валютной паре EUR/USD. Терминал OANDA заметно отличается от метатрейдера и чтобы его освоить, нужно время.

Безопасность

Все компании бренда OANDA являются регулируемыми, и неторговые риски сведены к минимуму. Депозиты клиентов застрахованы, размер страховых выплат зависит от юрисдикции компании, в которой открыт счет.

Служба поддержки

Со службой поддержкой клиент компании может связаться в онлайн-чате, по телефону (есть возможность заказать обратный звонок) или через мейл. Техническая поддержка работает круглосуточно пять дней в неделю, операторы в онлайн-чате отвечают достаточно оперативно (на английском языке).

Вывод

В первую очередь компания будет интересна серьезным трейдерам, оперирующими крупными депозитами и желающими свести к минимуму различные форс-мажоры. Для новичков с небольшими депозитами, на наш взгляд, нет смысла проходить не самый простой процесс регистрации и отправлять недешевые международные банковские переводы. OANDA не предоставляет бездепозитных бонусов, таких любимых начинающими трейдерами и ориентируется в первую очередь на клиентов, торгующих на реальные собственные деньги.

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