1 Oanda Reviews — FX Broker — Broker-ABC

Oanda

Oanda
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Overview

Oanda considers itself as one of the most reliable brokers on the forex market. It was first established in 1997 and has been successfully operating on the market for more than 20 years. The company earned several prestigious awards throughout its history. Among them are Best Mobile Platform, Highest overall client satisfaction in 2017, and Best platform features. Their headquarters is located in Toronto, Canada. They also have other subsidiaries in Australia, Japan, Singapore, US and UK. The company is also regulated by local regulatory authorities in each of six corporate locations.

Withdrawals

According to their website, withdrawal policies vary based on the region with which you hold your account. Credit card withdrawals usually take up to 6 business days and Wire transfer may take 1-2 business days. Nevertheless, we encountered numerous reviews stating that the company seems to be holding some withdrawal cases for a period of time that is much longer than which is stated in their terms and conditions.

Support

Oanda’s customer support team seems to be not as proficient as it is written on their webpage. According to multiple negative reviews, it takes too long for customers to get a response even for the simplest issues. Also, the answers in the chat are not helpful at all. It is also disturbing that customers claim to not being able to get the hold of their direct account managers for days, even though they requested to be contacted for several times.

Trading

Oanda owns its unique and self-designed platform “fxTrade”. Started way back in 2001 it has become the first online, retail forex trading platform. Since that time it has been continuously upgraded and has led the entire market in the new era of innovations. However, if you prefer to use Metatrader4 you will not be disappointed. Oanda developed a mobile app which will allow you to trade from anywhere in the world, as long as you have the internet connection.

Instruments

Oanda offers more than 60 currency pairs including exotic pairings like GBP/NZD and EUR/NZD. Contracts are also available for commodities, precious metals, bonds, and indices. Spread offerings are tempting. For currency pairs, the EUR/USD pair can be as low as 1 pip.

Conclusion

Oanda has quite impressive history and can be proud of itself for being on the market from the very beginning. On the other hand, the recent reviews which we encountered during our investigation cannot be considered positive at all. There are lots of complaints towards the company’s customer service department and numerous withdrawal cases being held for no reason. Please, consider investing in Oanda at your own risk.

Oanda considers itself as one of the most reliable brokers on the forex market. It was first established in 1997 and has been successfully operating on the market for more than 20 years. The company earned several prestigious awards throughout its history. Among them are Best Mobile Platform, Highest overall client satisfaction in 2017, and Best platform features. Their headquarters is located in Toronto, Canada. They also have other subsidiaries in Australia, Japan, Singapore, US and UK. The company is also regulated by local regulatory authorities in each of six corporate locations.

Withdrawals

According to their website, withdrawal policies vary based on the region with which you hold your account. Credit card withdrawals usually take up to 6 business days and Wire transfer may take 1-2 business days. Nevertheless, we encountered numerous reviews stating that the company seems to be holding some withdrawal cases for a period of time that is much longer than which is stated in their terms and conditions.

Support

Oanda’s customer support team seems to be not as proficient as it is written on their webpage. According to multiple negative reviews, it takes too long for customers to get a response even for the simplest issues. Also, the answers in the chat are not helpful at all. It is also disturbing that customers claim to not being able to get the hold of their direct account managers for days, even though they requested to be contacted for several times.

Trading

Oanda owns its unique and self-designed platform “fxTrade”. Started way back in 2001 it has become the first online, retail forex trading platform. Since that time it has been continuously upgraded and has led the entire market in the new era of innovations. However, if you prefer to use Metatrader4 you will not be disappointed. Oanda developed a mobile app which will allow you to trade from anywhere in the world, as long as you have the internet connection.

Instruments

Oanda offers more than 60 currency pairs including exotic pairings like GBP/NZD and EUR/NZD. Contracts are also available for commodities, precious metals, bonds, and indices. Spread offerings are tempting. For currency pairs, the EUR/USD pair can be as low as 1 pip.

Conclusion

Oanda has quite impressive history and can be proud of itself for being on the market from the very beginning. On the other hand, the recent reviews which we encountered during our investigation can not be considered positive at all. There are lots of complaints towards the company’s customer service department and numerous withdrawal cases being held for no reason. Please, consider investing in Oanda at your own risk.

  • ***
    Broker Oanda
    Website URL http://www.oanda.com
    Founded1997
    HeadquartersUSA
    Support Number1 416 593 9436
    Trading PlatformOANDA fxTrade| OANDA fxTrade on MetaTrader 4| fxTrade Mobile | fxTrade API
    Minimum 1st DepositNone
    Minimum Account Size0$
    Minimum Trade Amount0.00001 lot
    Bonus50% deposit bonus
    Leverageup to 1:50
    Spreadfloating
    Free Demo Account Open Demo
    RegulationRegisterd with Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA ID #0325821)
    Number of Assets1000+
    US Traders Allowed Yes
    HoursYes
    Mini Account1
    PAMMYes
    Auto TradingYes
    HedgingYes
    Trusted ManagmentYes
    Free Education:Yes
    Daily Analysis:Yes
    Other InstrumentsMetals, Gold
    Decimals5
    Overall Score4.8

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