Account Types9.2
Trading Speed9.3
Customer Service9.1
Safety9.4
Read our OANDA review and learn why we recommend this broker for online trading and why it is not a scam, learn all you need to know in this OANDA review before you sign up with the broker.
OANDA Review
OANDA is one of the most experienced brokerage platforms available today as it was founded back in 1996 by Dr. Stumm and Dr. Olsen. It is offering its services in 196 countries and it is famous for its reliability and user-friendliness. In this OANDA review, I am going to briefly discuss all its important features.
What Can Be Traded At This Platform
This broker is mainly famous for offering foreign currencies but lately, it has made its name in the cryptocurrency market as well. It offers CFDs as well but due to some restrictions, clients from the US are not allowed to trade CFDs. More than 70 foreign currency pairs are available for you to invest your money. All major cryptocurrencies like Bitcoin, Ethereum, Ripple, and Cordano are available on this platform and you can invest in any one or all of them as well.
Pricing Structure at OANDA
OANDA is not famous for giving discounts to attract a larger audience as its primary focus is on the quality of services. Its biggest advantage is its automated trades’ execution which is its proud offering. Coming towards its spreads, the average pricing at OANDA for forex is 1.2 pips.
Coming towards micro-lots, OANDA has brought the minimum trade side down to 1 unit or 0.001 micro lot. To maintain its transparency, OANDA regularly publishes an average of spreads. OANDA uses an automated engine to follow global pricing closely, but the spreads are subject to market volatility and liquidity.
OANDA Trading Platform
The brokerage platform of OANDA is based on MetaTrader 4 concept and it is a good option for charting and perfect integration of trading and research tools. The platform has more than 80 indicators and multiple other features as well such as the ability to overlay currency pairs. The platform has a mobile app as well which is easier to use. Other than the user-friendly design of the mobile app, charting is balanced with features like research tools and news updates.
OANDA’s Stress on Education
OANDA supports its offering of educational material with webinars conducted by its team. It has created a learning center as well which contains 19 chapters that cover all technical and analytical topics related to online trading. At the moment, this broker is working on launching its video lecture series as well which will further strengthen its education section. Live webinars are also arranged for traders covering a wide range of topics.
Market Research at This Platform
OANDA provides its traders everything they require to successfully explore the online trading markets such as various daily articles, podcasts, and research tools. Its MarketPulse site has a vast collection of articles organized according to categories with various updates published every day. OANDA is providing a trading analysis application as well which analyzes the trading history of clients.
Customer Support Services
The customer support representatives of OANDA can be reached at any time on all weekdays through emails. The business hours of the broker are from 13 EST to 18 EST. The customer support team of the broker is courteous and well versed in its tasks and quick enough to provide solutions to the clients in minutes.
Security
The platform is compliant with KYC and AML policies but it is not just relying on them only. It is using encryption as well to secure the data as well. It is working to further strengthen its defenses as it is working to launch two-factor authentication and biometric verification for its mobile application.
The security features of this broker have been proven satisfactory by many critics and that is the reason it is considered one of the most reliable brokerage platforms.
OANDA Final Verdict
OANDA offers an excellent desktop trading platform which, together with research and analysis features, is well suited for clients who are already aware of what the trading retail foreign exchange market entails. I recommend you to visit this platform in the first leisure and check out its feature.
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