OANDA
Reviews 2
No complaints yet
2.1
Unverified company
www1.oanda.com
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The largest forex broker OANDA is the leader of the American financial market and acts as a guarantor of reliability and stability.
Forex broker
Website
Social media
Date of foundation
1996
Head Office
140 Broadway, 46th Floor New York, NY 10005 USA
The owner of the company
OANDA Corporation
Types of support
Chat
Office
Support by phone
Languages
Russian, English, French, Spanish, Italian, German, Portuguese, Chinese, etc.
Terminals
MetaTrader 4, WebTerminal MT4
Min. first deposit
From 1 USD
Broker fee
Yes
Lot volume
From 0.01
Leverage
To 1:50
Spreads
From 0.5 points
Free Demo Account
No
Adjustable
Yes
Regulators
FCA№542574
MAS№ 200704926K)
ASICABN 26 152 088 349
IIROC№09-0280
Types of accounts
Margin call / Stop out
50%/10%
Transaction volume
0.01 lot
Execution of orders
Market Execution (at market price)
Methods of replenishment
PayPal, Bank Transfer, Bank Card (Visa/MC)
Withdrawal methods
PayPal, Bank Transfer, Bank Card (Visa/MC)
Number of assets
100+
Types of assets
CFD
Currency pairs
Metals
Raw materials
Bonds
Account currencies
EUR, USD, SGD, HKD, CAD, AUD, GBP, JPY, CHF
Liquidity providers
J.P. Morgan, Deutsche Bank AG, Royal Bank of Canada
Mobile Trading
Has mobile apps (iOS / Android)
Weekend trading
No
Tournaments / contests
No
Trader training
Webinars and Beginner's Guide
Contract Difference Commission
Yes
Swaps
Yes
PAMM trading
The investment service provides an automated trading interface that allows account managers to focus on successful trades
Analytics
Graphs, models, maps, etc.
Margin Trading
Yes
Affiliate Program
No
Benefits
Company Reliability
Advantageous terms
Services for profitable trading
Training and analytics
Affiliate Program
PAMM service
Disadvantages
Inconvenient site
No bonus program
Date of update
26.04.2022
Overall assessment
4.9/10

    OANDA is it a scam? Reviews and description

    11 August 2017

    The largest Forex broker OANDA is the leader of the US financial trading market. It was registered in 1996 and today it keeps successfully providing brokerage services around the world. Leading offices are located in the UK, Canada, Singapore, Japan, the United States, etc. Among the company’s clients there are the largest brands (Deloitte, The Times, British Airways, United Continental, ArcelorMittal, Fedex, etc.), trusting its experience and professionalism.

     

    Certainly, you would like to know whether OANDA is another scam or not. We’ll answer this question in the broker’s detailed review here below.

    The creators of the brand believed that it is the Internet and new technologies that will open wide access to the markets for all customers. For more than 20 years, the company has been holding leadership positions, from a start-up to a global corporation, with offices and customers in over 196 countries. Being one of the oldest and most professional brokers, it still acts as a guarantor of reliability, stability and quality. The company grants access to nearly all world liquid markets, trade in currency pairs, stock indices, cfd for futures (oil, sugar, wheat, etc.), etc. Clients can also count on specialized tools: calculators, currency volatility charts, order book, indicators and much more.

    To trade a variety of assets the Forex broker offers a rich choice, such as a reliable terminal MetaTrader 4, a browser platform Web Trading, as well as its own high-quality development of FXTrade. FXTrade is the first platform that provides data in a graphical form in real time. The unique program has a simple interface and fast execution speed. It’s equipped with graphing functions, and you can check trading strategies, study financial news. All platforms are convenient; they allow you to work comfortably, while mobile trading is available too.

    For traders, there is a 24-hour service support, a free demo account that allows to test the system. The website has a Russian version that enables to get the necessary information about the work of the broker. However, analytics, news and reviews, all the teaching material, webinars, lessons are presented in English, which makes the trade more difficult.

     

    Replenishment and withdrawal of earnings

    OANDA offers a minimum of opportunities for withdrawal and replenishment of funds. To replenish the deposit, you need to register and get verification from the broker, deposit the amount by choosing a convenient way to transfer funds from the available options:

    • Bank transfer;
    • Credit card;
    • PayPal.

    Pay attention, withdrawal of funds is possible only in the way the trader’s funds were replenished.  The time for processing an application depends on the currency of the transfer and the method of withdrawal; the broker does not impose a transfer fee for the first application, but then all transactions are made with a commission. On the Internet, there are enough complaints from traders on problems with withdrawal of funds, so be careful and discuss the features of capital operations with a personal manager.

     

    Complaints against OANDA

    OANDA has different reviews on the Internet, but there are not so many. It means that Russian traders have not appreciated the company yet. Some traders highly praise the reliability of the company, favorable conditions, the set of services that help to make their trading strikingly profitable, to say nothing of an informative website.

    Nevertheless, negative feedback is enough: users of the company complain about the problems in the withdrawal of funds (including the commission for withdrawal, there are few ways to withdraw), problems with the terminal, the inconvenient site, minimum information in Russian (including a large part of the necessary material: training, analytics, reviews, news – all of this is presented in English).

    Despite the fact that OANDA has been in the financial services market for a long time, today its unique and worthy service is difficult to assess by Russian market players. As regards this issue, the broker still has to work hard if it plans to seriously cooperate with our traders.

    If complaints about OANDA show up, we’ll necessarily publish the information in social networks. Sign up to stay up to date with the news.

    Is OANDA a scam?

    Today OANDA is one of the most experienced and successful brokers, known throughout the world. It has been providing high quality service for trade for more than 20 years. The work takes place in several platforms. It’s a reliable and well-known terminal Metatrade and its own platform, which has many advantages as well as positive feedback from Russian traders. Having a terminal of its own that many brokers in our country are deprived of, is a serious step, which indicates that the company plans to occupy strong positions in the market, investing substantial funds in creating a unique service.

    OANDA has a license that guarantees the safety of work with it. Reviews about the broker are diverse and there are not so many of them, they mostly indicate a number of serious problems that prevent the company from fully entering the Russian market and showing itself in full force (problems with withdrawing money, commission fees, a complex site, represented for the most part in English, etc.).

    The company publishes analytics, training materials, but Russian traders find it difficult to use. Let’s hope that the situation will change for the better and this worthy broker will successfully work with the Russian audience (it is necessary to provide high-quality material on the website, ensure timely support, resolve problems with withdrawal of funds).

    Do you still consider OANDA to be a scam, don’t you? We guess it has nothing common with an average scam. For more than 20 years of successful cooperation with traders around the world, the company has proved its reputation by providing high quality service as well as excellent trading conditions.

     

    The broker’s regulator

    Today, OANDA has a number of authoritative licenses, its activities are regulated:

    • The Investment Regulatory Organization of Canada IIROC,
    • The UK Financial Supervision Authority (License No. 542574),
    • The Monetary Authority of Singapore MAS (license No. 200704926K),
    • The Australian Securities and Investments Commission ASIC (registration number ABN 26 152 088 349, registration number AFSL 412981),
    • The Association of Financial Futures (registration No. 1571).

    Check the OANDA license on the IIROC website
    Check the OANDA license on FCA.org (UK)
    Check the OANDA license on the MAS website
    Check OANDA ASIC license

     

    Bonuses in OANDA

    Each trader of the company can receive a bonus of «50% on the deposit when replenishing the account.»

    To receive a bonus, you need to replenish your account for at least 200 € and place the first deal. To the amount of 200€ an additional bonus amount of 100€ will be added. Please note, before using the promotion, it is necessary to clarify its terms with the personal manager.

     

    Conclusion

    The Forex broker OANDA has been successfully operating in the field of online trading for more than 20 years, occupying a leading position. Having a large database of users around the world and providing a reliable high quality product, the company does not stand still and it’s constantly evolving. An essential positive factor is the availability of our own platform and high quality service, licenses. However, according to negative feedback on the Internet the broker still has to work hard to offer a really high-quality service to Russian traders. Let’s hope, in this part the company plans to improve the service.

    Should we consider OANDA to be a fraudster? This assumption has nothing to do with reality because for a long time the company has been demonstrating the high quality of services as well as reliability of cooperation with users around the globe. We ask traders for real feedback about OANDA, which will affect its ratings on our web portal, and also warn against problems in its work.

    Trading tools and assets
    60%
    Withdrawal speed
    40%
    Broker fee
    20%
    Technical support
    50%
    2.1

    Отзывы

    • The article is completely blank. It is...

      The article is completely blank. It is not clear where this company is registered, where the account is, how the account is insured. It is loudly written about regulators, but where are the links to the register of these regulators? In general, I have no desire to trust this company with my hard-earned money.

      Reply to this review
      1.8
    • No more credit card deposits. Now you...

      No more credit card deposits. Now you can only input from debit cards. Another thing I can add is a great API for robot trading.

      Reply to this review
      2.5
      • Pavel 9 May 2020 at 03:26

        Oanda doesn't have any robot trading.MT4 and it works very poorly because they have incompetent staff.
        A very dangerous company.

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