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Oanda (https://www.oanda.com/) is a globally recognized online CFD forex broker. The company was founded- in 1996, and the Co-founders are Dr. Stumm and Dr. Olsen. Oanda is fully regulated and licensed by Canada, London, Singapore, Australia, Japan, and Europe. OANDA Global Markets Ltd has headquarters in the British Virgin Islands.
Oanda offers multi-currency forex trading. They offer the best trading platform – MetaTrader 4, which operates over Mobile and Web. Oanda’s MT4 provides various tools like forex trading indicators, automatic chart pattern recognition, and pattern quality indicators free of cost. They provide 24/5 customer support via chat boat, live chat, email chat, phone calls, and FAQ page.
Oanda is a globally licensed and regulated trading company. It has registered its company under different names in different countries. They have been running their company successfully for 25 years. Most of the traders give positive remarks and feedback about them.
Let’s see about their regulation, license and the awards they have received in Table 1.
Table 1: The regulations of Oanda
| Country | Regulations | Company name | Registration details |
|---|---|---|---|
| United States | Commodity Futures Trading Commission (CFTC) | OANDA Corporation | License No. – 0325821 |
| Canada | Investment Industry Regulatory Organization of Canada (IIROC) | OANDA (Canada) Corporation ULC | – |
| Europe | Financial Conduct Authority (FCA) | OANDA Europe Limited | License No. – 542574 |
| Asia Pacific | Monetary Authority of Singapore (MAS) | OANDA Asia Pacific Pte Ltd | License No. – 200704926K |
| Australia | Australian Securities and Investments Commission ASIC | OANDA Australia Pty Ltd | License No. – 412981 |
| Japan | Kanto Local Financial Bureau (Kin-sho) | OANDA Japan Co., Ltd. | License No. – 2137 |
| Europe | Malta Financial Services Authority (MFSA) | OANDA Europe Markets Limited | License No. – C 95813 |
| British Virgin Islands | BVI Financial Services Commission | OANDA Global Markets Ltd | License No. – 2026433 |
Table 2: Awards received for the Excellency of Oanda for various domains
| Awards | Awarded by |
|---|---|
| Most Popular Broker 2020 | TradingView Broker Awards |
| Best Forex and CFD Broker 2020 | TradingView Broker Awards |
| Best FX Data Provider, North America 2020 | Global Brand Awards |
| Best CFD Broker Asia Pacific 2019 | Global Banking & Finance Review Awards |
| Best Retail FX Platform 2018 | eFX Awards |
Table 3: Various trading instruments available in Oanda
| Trading types | Features to trade in Oanda | ||
|---|---|---|---|
Forex CFDs |
Available forex pairs are, |
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Indices CFDs |
Popular Indices are,
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Metals CFDs |
Oanda gives the following metal instruments for trade,
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Cryptocurrencies |
Cryptocurrency offered by Oanda is |
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Commodities CFDs |
Oanda Commodity instruments are,
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Image 2: Various Trading assets available in Oanda
Oanda technology and software delivery focus to build itself around the right approach to protect the customer and business. They offer a well-known trading platform as MetaTrader 4 (MT4) and MetaTrader 5 (MT5). It has been designed to run on Mobile and Web-based platforms.
Oanda provides MetaTrader 5 trading platform on Mobile, Web, and Desktop. MT5 is one of the most popular powerful trading platforms in the world. They offer both the live and demo account along with MT5. It contains a lot of features like indicators, charts, instruments, etc.
Image 3 : MetaTrader 5 platforms in OANDA
MetaTrader 4 is one of the most used trading platforms in the world. Oanda offers you to trade 45 currency pairs and a wide range of CFDs on popular products and indices. Combined with MT4’s chart and analysis, it gives you the most powerful trading experience. A key strength of the MT4 platform is that automated trading allows you to create and test your automation strategies with expert advisors.
Oanda offers trade from charts. In Oanda, you can get MT4’s advanced charting and technical analysis package.
Image 4: MetaTrader 4 platform in OANDA
Oanda’s mobile trading platform is an award-winning application, as stated in the above awards section. In 2018 Oanda got an award from Investment Trends – US Forex Report for Mobile Platform/App. They provide the App with good features and multi-languages.
Oanda’s mobile app handling and usability are very easy for Beginners in trading. Mobile and Tablets Apps are available in the Google play store (Android) and Apple store (iOS).
Image 5 : Mobile trading platforms in OANDA
Oanda offers Instant access for MetaTrader 4 from your browser window. Oanda’s web trade gives access to the full range of currency pairs, commodities, and indices CFDs. Web and Desktop platforms both offer the same powerful trading experience with the same features.
Oanda provides its trading websites in different languages for the ease of customers from different countries. This helps the traders from different countries to use the Oanda website in their respective languages.
Table 4 : Multilingual trading websites of Oanda segregated continent wise
| No. | Oanda Trading Websites | Countries | Website Language |
|---|---|---|---|
| 1. | Oanda (Main) | Global | English |
| Continent 1 – EUROPE | |||
| 2. | Oanda UK | United Kingdom | English |
| 3. | Oanda Français | France | French |
| 4. | Oanda Italiano | Italy | Italian |
| 5. | Oanda Español | Spain | Spanish |
| 6. | Oanda Deutsch | Germany | German |
| 7. | Oanda Português | Portugal | Portuguese |
| Continent 2 – ASIA | |||
| 8. | Oanda Australia | Australia | English |
| 9. | Oanda 简体中文 | China | Simplified Chinese |
| 10. | Oanda 繁體中文 | Macao | Traditional Chinese |
| 11. | Oanda 遠隔サポート | Japan | Japanese |
| 12. | Oanda 繁體中文 | Taiwan | Traditional Chinese |
| 13. | Oanda 한국인 | South Korean | English |
| Continent 3 – AUSTRALIA | |||
| 14. | Oanda Australia | Australia | English |
| Continent 4 – AFRICA | |||
| 15. | Oanda Nigeria | Nigeria | English |
| 16. | Oanda South Africa | South Africa | English |
| Continent 5 – SOUTH AMERICA | |||
| 17. | Oanda Chilie | Chilie | English |
| 18. | Oanda Português | Brazil | English |
| Continent 6 – NORTH AMERICA | |||
| 19. | Oanda English | Canada | English |
| 20. | Oanda Francais | Canada | François |
| 21. | Oanda English | United States | English |
OANDA’s accounts are classified into 3 different types based on different kinds of traders. They do not ask for total account verification for total account deposits below $ 9,000. They offer all types of accounts such as commission-free trading, one-click trading with a powerful analysis tool.
This type of account is suitable for all traders. The minimum account balance is 0 for this account, and the maximum leverage amount is 30:1 for EU (OANDA Europe Limited) traders. They offer 70 FX pairs for trade.
Core accounts are only suitable for Expert advisors (EAs), short-term traders, and high-frequency traders. The minimum account balance is $20,000 or equivalent local currency, and the maximum leverage amount is 100:1 for EU (OANDA Europe Limited) traders. They provide Joint and Corporate accounts for EU traders.
Oanda offers a Swap-free account for traders who wants to pay or receive overnight swaps or interest on their trades. There is no admin charge for the first 5 days, after that, 6th day they start to collect the charge depending on instruments and spread level.
Image 6: Various account types available on the OANDA website
Oanda does not collect any fee amount for the Deposit. If you wish to deposit more than $ 9,000 or an equivalent amount in other base currencies, you need to provide additional documents, such as your passport and a current bank statement or as instructions outlined on their open account page. If you are an existing customer with access to the Oanda website, you can easily upload these documents to the site.
Withdrawals by the bank can take up to 5 business days. They do not accept 3rd party transactions. PayPal is not available for corporate accounts. They charge a fee when withdrawing money through a bank transfer.
Image 7: Withdrawal fee info for the bank transfer in OANDA
Oanda serves 24/5 customer support via chat boat, live chat, email chat, phone calls, and FAQ page. Email support is available 24/7 where they respond to their clients within a maximum of 1 to 3 hours. In the live chats, all the questions are answered by relevant executives within 1 to 3 minutes. They provide multilingual customers support for customers from different countries.
Table 5: Phone numbers to contact Oanda Country wise
| Countries | Oanda Contact Number |
|---|---|
| International Phone Number | +65 6579 8289 |
| EUROPE | |
| United Kingdom | 020 3151 2050 |
| AUSTRALIA & NEW ZEALAND | |
| Australia | 61 2 8046 6258 |
| Australia | 13001 14359 |
| ASIA | |
| Japan | 0120 923 213 |
| Singapore | 65 6579 8288 |
| NORTH AMERICA | |
| New York | 1 212 858 7690 |
| Canada | 1-877-626-3239 |
Image 8: Customer support in OANDA
Trading Hours differ for different trading Instruments in different Time Zones as Oanda is available globally. The Information of different Trading Hours respective to Different Time Zones and instruments are listed in Table 6.
Table 6: Various Trading Hours for various Instruments
| Instruments | Trading Hours | Time Zone |
|---|---|---|
| Forex | Sunday to Friday 17:04 – 16:59 | New York |
| Metals CFDs | Sunday to Friday 18:01 – 16:59 | New York |
| Cryptocurrencies | Sunday to Friday 17:04 – 16:59 | New York |
| Index CFD | ||
| Japan 225 US Nas 100 US Russ 2000 US SPX 500 US Wall St 30 | Sunday to Friday 17:00 – 16:00 | Chicago |
| AUS 200 | Monday to Friday 09:50 – 16:30 17:10 – 07:00 | Sydney |
| China A50 | Monday to Friday 09:00 – 16:30 17:00 – 04:45 | Singapore |
| Euro 50 | Monday to Friday 01:15 – 22:00 | Frankfurt |
| France 40 | Monday to Friday 08:00 – 22:00 | Paris |
| Germany 30 | Monday to Friday 01:15 -22:00 | Frankfurt |
| Hong Kong 50 | Monday to Friday 09:15 – 12:00 13:00 – 16:30 17:15 – 03:00 | Hong Kong |
| India 50 | Monday to Friday 09:00 – 18:10 18:40 – 04:45 | Singapore |
| Netherlands 25 | Monday to Friday 08:00 – 22:00 | Amsterdam |
| Singapore 30 | Monday to Friday 08:30 – 17:20 17:50 – 04:45 | Singapore |
| Taiwan Index | Monday to Friday 08:45 – 16:30 17:15 – 03:00 | Hong Kong |
| UK 100 | Monday to Friday 01:00 – 21:00 | London |
| Commodity CFDs | ||
| Brent Crude Oil | Monday to Friday 01:00-23:00 | London |
| Copper | Sunday to Friday 17:00 – 16:00 | Chicago |
| Natural Gas West Texas Oil | Sunday to Friday 18:00 – 17:00 | New York |
Oanda offers the necessary educational materials to new customers who start their trading. They explain a full range of trading tools, including trading reports, analytics reports, and advanced charts, as well as the most effective economic overlay and other essential research tools for your successful trading experience.
Oanda explains tools, market news, markets analysis, trading platform tools, and Forex news in a proper way. Here they share social videos and 222 episodes of the Market Insights Podcast.
Image 9: Market pulse in OANDA
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