Oanda is a leading online broker that offers forex and index, and commodity CFD trading for clients around the globe. In reality, Oanda operates across eight international financial centres, serving clients across 196 countries. It has received licences from the top regulatory authorities, which include:
- The US Commodity Futures Trading Commission (CFTC)
- The National Futures Association (NFA)
- The Financial Conduct Authority (FCA)
- The Monetary Authority of Singapore (MAS)
- The Japanese Financial Services Agency (FSA).
Oanda was one of the first companies to offer online currency exchange and remains at the forefront of innovation in the industry. Oanda’s client base spans retail investors.
OANDA is a technology company that offers currency exchange and brokerage services. It was founded in 1996 by Dr Michael Stumm and Dr Richard Olsen. OANDA is headquartered in New York City, with offices in San Francisco, Toronto, London, Singapore, Tokyo, and Zurich.
OANDA’s mission is to provide transparent access to the global financial markets. OANDA’s award-winning technology enables fast and easy access to the world’s largest financial market, with prices updated every second. OANDA provides clients with access to over 200 financial instruments, including currency pairs, precious metals, CFDs, etc.
- Oanda offers a variety of tools and resources to its clients, including the following:
- Oanda’s web-based trading platform, fxTrade, is simple and easy to use.
- Oanda also offers a mobile trading app, as well as MetaTrader 4 (MT4).
- Oanda provides competitive spreads and doesn’t charge commissions on trades.
- Oanda has a wide range of currency pairs available for trading.
- Oanda offers 24/5 customer support.
Oanda is a large, well-established and respected name in the online forex trading industry. The company has been in operation since 1996 and today serves clients worldwide. Multiple financial authorities regulate Oanda.
Pros And Cons of OANDA:
Oanda is a large brokerage licensed in 6 jurisdictions and offers forex and CFD trading. It has a mobile app that is user friendly and provides a good balance of features. Oanda also has its podcast, “Market Insight.”
The cons of Oanda include the fact that it doesn’t offer cryptocurrency trading, and some users have complained about the customer service. Overall, Oanda is a good choice for forex and CFD trading, but there are some drawbacks to consider before signing up.
Oanda is a great company with simple and competitive trading fees. The inactivity fee introduced in 2016 is a bit of a downside but only affects those who have not traded in over two years. Overall, Oanda is a great choice for a reliable and affordable forex broker.
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