The platform’s charting highlights include 31 analytical objects, 50 built-in indicators and nine timeframes to improve your trading strategy. You also have the ability to automate your trading with Expert Advisors (EAs), trading robots that perform market transactions automatically. Globally popular for forex trading, the platform boasts an intuitive interface, excellent charting features, a customisable order book and an overall user-friendly trading experience. For a start, OANDA Trade competes with the top proprietary platforms in the market with a user-friendly interface, quality market research and excellent charting features for advanced technical analysis.

FX data services

In all, it’s a very robust offering and an area where OANDA ranks above the industry standard, but if there is one criticism, it is that the material is scattered across OANDA’s website and trading platforms. Traders should expect a learning curve as they try to find everything. However, in the United States only Forex CFDs are available with OADNA offering over 70 currency pairs. U.S. customers can also directly trade cryptocurrencies through a partner company. OANDA also offers clients “a powerful and more dynamic trading experience” by partnering with third-party providers MultiCharts, CQG FX, and TradingView.

Review Sections

OANDA’s longstanding history dating to 1996, impeccable regulatory track record, global licenses and capital infusions from private equity groups over the years make it a safe broker to hold client funds. OANDA’s Trade trading platform suite is a good option for market news and charting (powered by TradingView) but falls short in other areas. For example, I found OANDA’s integration of research and trading tools within its desktop and web platforms to be imperfect. OANDA’s trading costs are generally steep, with high effective spreads across both its default and core pricing, compared to the best brokers. While not a discount broker, OANDA’s main advantage is its automated execution across its account offering. The main reason to pick OANDA is most likely its long-standing and strong track record.

OANDA Corporation Spreads

OANDA Corporation was among the first brokers to use fractional pips when quoting spreads. Also known as pipettes, fractional pips are 1/10 of a pip which means more precise and tighter spreads as there is less rounding. Pipettes allow you to compare pairs out to five decimal places (with the exception of JPY, which can be viewed to three decimal places). Fractional pips make for more precise market analyses and more opportunities for profit – something we like very much in a broker focused so tightly on forex. The third reason your order likely did not trigger is because your take profit or stop loss was set too close to your order price.

Even more than custom interfaces, we really, really like OANDA Trade’s risk management tools. Most online brokers don’t offer a guaranteed stop-loss order, but OANDA Corporation does. With over 25 years’ experience, we offer competitive spreads, excellent customer service and powerful tools and platforms. None of the services provided by us shall be considered investment or financial services in accordance with applicable laws. None of the services constitute investment advice or recommendations. No employees, staff, or representatives of OANDA are authorized to provide investment advice or recommendations.

It also features third-party signals if you want to simply copy a trade. In the Market Data section, there are tools you can use to study currency pairs and aid you in your trading decisions. You can see current chart patterns, price correlations, and client sentiment.

Trusted and used by major corporations, tax authorities, auditing firms and individuals around the world. Accurate and reliable FX services and exchange rate data and from a provider you can trust. Globally recognised broker with experience in FX trading services dating back to 1996. For her second and third questions, which concerned MetaTrader 4 and OANDA Corporation’s liquidity providers, our tester turned to email and phone support. An American located in Europe, she found customer service admirably responsive. The broker claims to provide round-the-clock support every day of the week except Saturday and Sunday.

  1. New traders won’t struggle to perform basic tasks, while more experienced traders will enjoy creating a custom interface.
  2. Likewise, the GBP/USD spread of 2.0 pips only slightly exceeds the result of our tests – 1.86 pips.
  3. The broker’s stated goal is to differentiate itself with superior trade execution and transparency, and all data points to that being the case.

We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. 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.

OANDA is a global financial technology and services company providing online Forex trading, currency data analytics, and global payment solutions. In 2001, OANDA launched its online trading platform, enabling Forex investors to trade with as little as $1. The platform grew to allow users to automate their trading and hedging strategies in the following couple of years.

Further, OANDA charges overnight financing fees to users with an open position on their account at the end of each trading day (i.e., 5 pm Eastern Time). There are no deposit fees https://forexhero.info/ at OANDA, no matter the deposit method, and there are no fees for credit or debit card withdrawals. Withdrawals by bank wire transfer do require a fee ($20 per transaction).

Benefits include spread or commission discounts, assignment to a “dedicated relationship manager,” API support, free VPS and wire transfers, and discounted access to third-party platforms. These pricing options are easy to find on OANDA’s website(s) and are available for both account types that the broker offers, although the shown spreads will vary. For example, the minimum EUR/USD spread for U.S. clients on a “standard” account under the “spread only” model is 1.4 pips, while the “core pricing + commission” model shows a raw spread of 0.4 pips.

Another great feature is the algorithm-based signal provider called SMART Signals. Here, you can find potential trade ideas on whether to buy or sell. It also automatically sets the stop loss and takes profit levels for you.

The hourly chart technicals suggests further upside before the downtrend returns. OANDA (Canada) Corporation ULC is regulated by the Canadian Investment Regulatory Organization (CIRO) and customer accounts are protected by the Canadian Investor Protection Fund within specified limits. A brochure describing the nature and limits of the coverage oanda broker is available upon request or at However, many of the integrated features in the platform will trigger a new browser window to open – even when you are on the desktop version. Other brokers integrate such features directly into the platform, which allows you to stay focused without a distracting flurry of new windows popping into your screen.

At thinkorswim, you also get access to economic data and real-time news that can be filtered according to the currency pair. You can also set custom alerts so you don’t miss any trading opportunities. Forex.com is the only forex broker in the United States that features an easy automation tool for non-programmers. Using an unregulated forex broker in the United States can be very risky.

To ensure the platform functions properly, please reference the technical requirements for OANDA’s Web Platform and update to the latest version of a supported browser. Please submit all the relevant information about your trades and/or orders, so that we can investigate and provide you with a detailed analysis. You can do this by clicking on and filling out the Trade enquiries form. Once it is downloaded and filled out, you can then email it back to us. Whenever you have questions about your trades and/ or orders, we are happy to assist.