OANDA is one of the respected forex and CFD brokers in the financial market. Founded in 1996, the company was a retail pioneer for the general public, and quickly used its early successes to become an industry leader. Because of its already global, consortium of forex and CFD-related corporations, this broker has the following advantages:
A wide range of currency decisions, from trade to data and exchange rate information.
There is no minimum deposit or minimum lot size,
is a good choice for traders with small investments.
Exceptional execution of warrants
Advanced graphics and trading platform capabilities.
Basic information about the broker
In fact, the OANDA broker operates in eight global financial centers with clients in almost 200 countries. Broker OANDA maintains an ever-expanding global customer base with subsidiaries in the US, UK, Japan, Singapore and Australia. It has received licenses from major regulatory jurisdictions (FCA, CFTC entities. No 542574, IIROC, ASIC Individuals. No26152088349, MAS Persons. No 200704926K and FAS individuals. 1571) including the United Kingdom, the United States, Canada, Japan, Singapore and Australia.
OANDA’s flagship is its own trading platform, OANDA Trade. It is an honor to be the first online platform for forex retailing. Since 2001, the broker has been constantly improving and bringing new innovative features to the market. It has always been web oriented and capable of handling large volumes through the put. And if the trader prefers to use the Metatrader4 platform, then OANDA also supports MT4. All of its systems have a mobile app that allows you to trade from anywhere in the world if the device has access to the Internet. All Trading activities and personal data of OANDA customers are encrypted using the latest technologies for security purposes.
Spread offers are competitive. For currency pairs, EUR/USD can be as little as 1 point. Spreads for CFDs vary depending on the asset’s choice. OANDA provides an online tab on its website. It details the prevailing spreads on all assets offered, each of which changes in real time. As for leverage, the standard ratio of 50: 1 for major currencies and 20: 1 for exotics is applied to currency pairs, while leverage for CFDs can vary widely depending on the market sector.
The OANDA broker provides a small choice for its clients to deposit money and wither finances. To top up the account, first the trader must register and pass the check (verification) of the company. And only then you can deposit money, choosing a convenient way to transfer. With the oANDA broker, the following options are available: bank transfers, credit cards and PayPal.
The limitation on the part of the broker is the possibility of withdrawing money only in the same way as the replenishment was made. The time to process the application depends on the chosen currency of the transfer and the method of withdrawing the finances. The broker does not have a commission for transferring money at the registration of the first application, and further transactions are already taking place with the commission.
Regardless of their trading experience, the client can receive a 50% deposit bonus when replenishing the account. To do this, you need to top up the deposit for the amount of 200 euros and open the first deal. As a result, a bonus amount of 100 euros will be added to the amount of the trader’s deposit.
Bilingual customer service representatives are trained to help customers with any question that may arise. You can get support through chat, email, fax or phone. There are eight global offices for an additional level of convenience for regional customers. Support is available every day around the world in “24-5” mode.
OANDA’s tutorials are extensive, with premium webinars and comments that allow all traders to be attracted. The release of video lessons is planned daily to prepare novice traders for action during real trading and provide a favorable trading experience.
So, our review of broker OANDA showed that the broker has gained the trust of traders with its innovative efforts to provide conversion rates and the subsequent use of this experience to create the first online, fully automated retail trading platform for forex. Over the past two decades, OANDA has occupied almost 20% of the Forex retail market and continues to grow and prosper.