{"id":5422,"date":"2022-12-06T12:47:28","date_gmt":"2022-12-06T12:47:28","guid":{"rendered":"https:\/\/mdfinancialskills.org\/?p=5422"},"modified":"2024-02-01T11:56:52","modified_gmt":"2024-02-01T11:56:52","slug":"oanda-forex-review","status":"publish","type":"post","link":"https:\/\/mdfinancialskills.org\/oanda-forex-review\/","title":{"rendered":"Oanda Review: Pros, Cons, Costs, and Security"},"content":{"rendered":"\n<p>Oanda is an extremely safe broker that offers forex and crypto trading in the US as well as CFD trading in Europe and beyond. Their trading platforms, tools and resources are amongst the best in the business, giving forex traders of any level of experience a great opportunity to succeed.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><a href=\"https:\/\/mdfinancialskills.org\/go\/oanda\/fx\/review\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"505\" src=\"https:\/\/mdfinancialskills.org\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-11-02-at-10.26.31-AM-1024x505.png\" alt=\"Screenshot of Oanda home screen with $5,000 bonus offer\" class=\"wp-image-5423\" style=\"width:768px;height:379px\"\/><\/a><\/figure><\/div>\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_64 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-662e9137c34b8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-662e9137c34b8\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Oanda_review_summary\" title=\"Oanda review summary\">Oanda review summary<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Pros\" title=\"Pros\">Pros<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Cons\" title=\"Cons\">Cons<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#All_things_considered%E2%80%A6\" title=\"All things considered\u2026\">All things considered\u2026<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#My_Oanda_review\" title=\"My Oanda review\">My Oanda review<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Trading_platforms_910\" title=\"Trading platforms (9\/10)\">Trading platforms (9\/10)<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Mobile_trading_app\" title=\"Mobile trading app\">Mobile trading app<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Web_trading_platform\" title=\"Web trading platform\">Web trading platform<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Desktop_trading_platform\" title=\"Desktop trading platform\">Desktop trading platform<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#MetaTrader4\" title=\"MetaTrader4\">MetaTrader4<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Trading_fees_810\" title=\"Trading fees (8\/10)\">Trading fees (8\/10)<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Spreads\" title=\"Spreads&nbsp;\">Spreads&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Commissions\" title=\"Commissions\">Commissions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Inactivity_fees\" title=\"Inactivity fees&nbsp;\">Inactivity fees&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Swap\" title=\"Swap&nbsp;\">Swap&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Withdrawal_fees\" title=\"Withdrawal fees\">Withdrawal fees<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Trade_execution_910\" title=\"Trade execution (9\/10)\">Trade execution (9\/10)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Regulation_and_reputation_1010\" title=\"Regulation and reputation (10\/10)\">Regulation and reputation (10\/10)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Safety_and_security_1010\" title=\"Safety and security (10\/10)\">Safety and security (10\/10)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Tradable_assets_810\" title=\"Tradable assets (8\/10)\">Tradable assets (8\/10)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Leverage_910\" title=\"Leverage (9\/10)\">Leverage (9\/10)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Trading_resources_and_education_1010\" title=\"Trading resources and education (10\/10)&nbsp;\">Trading resources and education (10\/10)&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Sign-up_and_withdrawal_process_810\" title=\"Sign-up and withdrawal process (8\/10)\">Sign-up and withdrawal process (8\/10)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Customer_service_810\" title=\"Customer service (8\/10)\">Customer service (8\/10)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Overall_rating_910\" title=\"Overall rating (9\/10)\">Overall rating (9\/10)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Oanda_FAQs\" title=\"Oanda FAQs\">Oanda FAQs<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Who_can_use_Oanda\" title=\"Who can use Oanda?\">Who can use Oanda?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-28\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#What_account_types_does_Oanda_offer\" title=\"What account types does Oanda offer?\">What account types does Oanda offer?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-29\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#What_deposit_methods_can_I_use\" title=\"What deposit methods can I use?\">What deposit methods can I use?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-30\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Where_is_Oanda_based\" title=\"Where is Oanda based?\">Where is Oanda based?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-31\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#What_does_Oanda_mean\" title=\"What does Oanda mean?\">What does Oanda mean?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-32\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#What_is_Oandas_contact_info\" title=\"What is Oanda\u2019s contact info?&nbsp;\">What is Oanda\u2019s contact info?&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-33\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#How_long_do_Oanda_withdrawals_take\" title=\"How long do Oanda withdrawals take?\">How long do Oanda withdrawals take?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-34\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#What_is_the_minimum_deposit_for_Oanda\" title=\"What is the minimum deposit for Oanda?\">What is the minimum deposit for Oanda?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-35\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Is_Oanda_safe\" title=\"Is Oanda safe?\">Is Oanda safe?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-36\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Is_Oanda_good_for_beginners\" title=\"Is Oanda good for beginners?\">Is Oanda good for beginners?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-37\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Why_trade_with_Oanda\" title=\"Why trade with Oanda?\">Why trade with Oanda?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-38\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Risks_of_forex_trading\" title=\"Risks of forex trading\">Risks of forex trading<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-39\" href=\"https:\/\/mdfinancialskills.org\/oanda-forex-review\/#Conclusion_Should_I_trade_with_Oanda\" title=\"Conclusion: Should I trade with Oanda?\">Conclusion: Should I trade with Oanda?<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Oanda_review_summary\"><\/span>Oanda review summary<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>I\u2019ve been trading forex with Oanda for the past six months. Please read on below for a detailed breakdown of my experience, but here\u2019s a quick summary of my conclusions:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Pros\"><\/span>Pros<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul>\n<li>Scored a 9\/10 in my evaluation of 10 critical categories&nbsp;<\/li>\n\n\n\n<li>My pick for the <a href=\"https:\/\/mdfinancialskills.org\/best-forex-trading-apps\/\" data-type=\"post\" data-id=\"5190\">best mobile trading platform<\/a> in the industry<\/li>\n\n\n\n<li>Fully regulated in the US, UK, Japan and beyond, making them one of the most secure forex brokers in the world<\/li>\n\n\n\n<li>Great customer service, with no-hassle sign-ups and withdrawals<\/li>\n\n\n\n<li>Highly customizable trading platforms that make it easier to execute your chosen trading strategy<\/li>\n\n\n\n<li>Integrated educational resources and easy-to-use trading platforms that make Oanda a great choice for beginners<\/li>\n\n\n\n<li>Proven commitment to developing new technologies and trading tools for their clients since launching one of the first web-based trading platforms in 2001<\/li>\n\n\n\n<li><a href=\"https:\/\/mdfinancialskills.org\/go\/oanda\/fx\/review\">Bonus of up to $5,000 for new US clients<\/a> who meet minimum deposit and trade volume requirements&nbsp;<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Cons\"><\/span>Cons<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul>\n<li>Offers \u201conly\u201d 68 currency pairs, a few less than forex.com and a other forex brokers&nbsp;<\/li>\n\n\n\n<li>Web-based platform that doesn\u2019t live up to their industry-leading mobile platform in terms of ease of use<\/li>\n\n\n\n<li>Competitive pricing, but occasionally a pip or two more expensive than their cheapest competitors<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"All_things_considered%E2%80%A6\"><\/span>All things considered\u2026<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>After trading with Oanda and rating them according to the criteria below, I give them an enthusiastic 9\/10. Oanda is a very safe forex broker choice. Their incredible mobile trading platform makes them the perfect choice for traders who want to trade on the go, and their educational resources and trading tools are a tremendous asset for any new traders. A current <a href=\"https:\/\/mdfinancialskills.org\/go\/oanda\/fx\/review\">sign-up bonus makes this an ideal time to start trading <\/a>with a world-class forex broker.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"My_Oanda_review\"><\/span>My Oanda review<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>When testing and rating forex brokers, I use the following 10 criteria. I weighed each factor evenly to come up with my overall ranking, but depending on your trading style or preferences, some of these factors may be more important to you than others.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Trading_platforms_910\"><\/span>Trading platforms (9\/10)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Oanda was and is a true innovator when it comes to trading platforms. They launched one of the first web-based trading platforms more than 20 years ago, and their mobile trading app, also known as fxTrade, is already approaching its 10th birthday. With such a headstart on their competition, it&#8217;s not surprising that Oanda has nearly perfected their proprietary trading platforms.<\/p>\n\n\n\n<p>I\u2019m going to spill a lot of ink on my experiences with the trading platforms because as a trader you will live and die on them. All your market interactions, from education to research to actual trading, will take place through the platform. How satisfied you are with your trading platform will go a long way in determining how satisfied you are with your forex broker.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Mobile_trading_app\"><\/span>Mobile trading app<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Oanda\u2019s mobile app, fxTrade, is a brilliantly conceived trading app. The amount of information and functionality tucked into every little pixel is incredible. It is also highly customizable, so you can more or less design your own app to suit your trading style.&nbsp;<\/p>\n\n\n\n<p>From the homescreen, I can see my 11 favorite currency pairs constantly updated with clearly visible spreads, so I know exactly what my trading costs will be. Click once on any pair, and you can instantly go through to the trade screen to make a transaction, or turn your phone on its side so a full screen chart appears.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignleft size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/mdfinancialskills.org\/wp-content\/uploads\/2022\/12\/UNADJUSTEDNONRAW_thumb_5338-1024x576.jpg\" alt=\"Screenshot of a chart of Oanda's trading app showing USD\/CHF with overlays and indicators\" class=\"wp-image-5425\" style=\"width:763px;height:429px\" srcset=\"https:\/\/mdfinancialskills.org\/wp-content\/uploads\/2022\/12\/UNADJUSTEDNONRAW_thumb_5338-1024x576.jpg 1024w, https:\/\/mdfinancialskills.org\/wp-content\/uploads\/2022\/12\/UNADJUSTEDNONRAW_thumb_5338-300x169.jpg 300w, https:\/\/mdfinancialskills.org\/wp-content\/uploads\/2022\/12\/UNADJUSTEDNONRAW_thumb_5338-768x432.jpg 768w, https:\/\/mdfinancialskills.org\/wp-content\/uploads\/2022\/12\/UNADJUSTEDNONRAW_thumb_5338.jpg 1182w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Screenshot of a chart in the Oanda mobile trading app showing indicators and overlays<\/figcaption><\/figure><\/div>\n\n\n<p>I\u2019ve found Oanda\u2019s mobile charting to be the simplest and easiest of any broker I\u2019ve tried. Click the pen in the bottom right of the chart, and you have 10 charting options, 17 indicators, 16 overlays, and 11 drawing options instantly at your disposal. Once you add an overlay, you even have 20 different color options. Your charts can be as simple or as complicated as you need them to be in order to execute your chosen trade strategy. The possibilities are endless.&nbsp;<\/p>\n\n\n\n<p>You can actually make your transactions directly from the chart, although I prefer to use the trade screen, which is equally simple and functional. The trade screen allows you to enter stop losses or take profits, or set up a trailing stop or lower bound. A few quick taps and you\u2019ve made your trade.<\/p>\n\n\n\n<p>The Oanda app also allows you to set up your own newsfeed, keep ahead of the latest news releases with an interactive economic calendar, and easily add, transfer, or withdraw funds. If you plan on doing a lot of trading from your phone, Oanda\u2019s app will give you all the tools you need to make informed decisions.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Web_trading_platform\"><\/span>Web trading platform<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Others disagree, but to me Oanda\u2019s web-based trading platform doesn\u2019t quite live up to their mobile platform. FxTrade sets a really high standard, so that\u2019s part of the problem, but for me the web platform is a little too busy, and not quite as easy to navigate.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignleft size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"558\" src=\"https:\/\/mdfinancialskills.org\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-06-at-10.54.41-AM-1-1024x558.png\" alt=\"Screenshot of Oanda's web trading platform with a chart of EUR\/USD, trading activity and account tabs.\" class=\"wp-image-5427\" style=\"width:767px;height:418px\" srcset=\"https:\/\/mdfinancialskills.org\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-06-at-10.54.41-AM-1-1024x558.png 1024w, https:\/\/mdfinancialskills.org\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-06-at-10.54.41-AM-1-300x163.png 300w, https:\/\/mdfinancialskills.org\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-06-at-10.54.41-AM-1-768x418.png 768w, https:\/\/mdfinancialskills.org\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-06-at-10.54.41-AM-1.png 1438w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">A screenshot of Oanda&#8217;s web trading platform taken from their demo mode.<\/figcaption><\/figure><\/div>\n\n\n<p>Those who love the Oanda web platform would say that it seems busy because <em>it is busy<\/em>. It has a staggering array of charting options and analytical tools, far more than the mobile version. Traders who rely on technical analysis will find absolutely everything they need. I\u2019ve also never experienced any server issues or lags, and the trade execution seems insanely fast.<\/p>\n\n\n\n<p>So what\u2019s my complaint? It just feels a little cluttered to me when compared to the slick mobile app. That\u2019s not a big deal, and it\u2019s a highly subjective judgment, but I think of my trading platform as a sort of second home. You\u2019re going to be spending your whole trading day there, so you need to be comfortable.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Desktop_trading_platform\"><\/span>Desktop trading platform<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>With Oanda, I actually prefer the desktop platform to the web-based trading platform. It is extremely quick and easy to download, and you can connect to your account and begin trading within moments.&nbsp;<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignleft size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"599\" src=\"https:\/\/mdfinancialskills.org\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-06-at-11.17.13-AM-1024x599.png\" alt=\"Screenshot of Oanda's desktop trading platform showing favorite currency pairs, candlestick chart of EUR\/USD and current trades.\" class=\"wp-image-5429\" style=\"width:778px;height:455px\"\/><figcaption class=\"wp-element-caption\">A screenshot of the desktop trading platform, downloaded to my Macbook. <\/figcaption><\/figure><\/div>\n\n\n<p>I had to make a few minor adjustments to font size and I changed some other personal preferences, but then I was staring at my own personal trading terminal. Yes, the features are mostly the same as that of the web-based platform, but for me personally the trading experience just felt smoother in the desktop version. The trade execution was just as fast and I have yet to experience any significant glitches.<\/p>\n\n\n\n<p>The desktop platform isn&#8217;t completely self-contained, which is expected but a bit annoying. If you want to use the MarketPulse or Economic Analysis or Technical Analysis functions, you\u2019ll be bounced out of the platform and over to your web browser. However, the Advanced Charting and News tabs keep you within the app.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"MetaTrader4\"><\/span>MetaTrader4<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>If you are a loyal MT4 user who just can\u2019t quit the platform despite the <a href=\"https:\/\/mdfinancialskills.org\/mt4-and-mt5-trading-apps-removed-from-apple-app-store\/\" data-type=\"post\" data-id=\"5261\">recent spat with Apple<\/a>, you\u2019ll also be pleased. Truthfully, I don\u2019t use MT4, so I didn\u2019t spend a whole lot of time with it, but from what I experienced, Oanda worked well with the MT4 platform and you can easily utilize Oanda\u2019s technical tools through a plug-in. From what I\u2019ve heard, all EA\u2019s (Expert Advisors) and other automated trading systems supported by MT4 work well through Oanda.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Trading_fees_810\"><\/span>Trading fees (8\/10)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Oanda is among the most transparent forex brokers when it comes to their trading costs. Other brokers tend to be a little more vague about what they charge, so I really appreciate Oanda for being up front.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Spreads\"><\/span>Spreads&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>As I mentioned previously, in my experience Oanda was always extremely competitive when it comes to spreads. Yes, there were times when another broker would have saved me a pip or two, but there were other times when Oanda was a tad cheaper.&nbsp;<\/p>\n\n\n\n<p>Oanda publishes their average daily spreads <a href=\"https:\/\/www.oanda.com\/us-en\/trading\/historical-spreads\/\" target=\"_blank\" rel=\"noopener\">here<\/a>, so if there is one currency pair you trade more than others, you can see exactly what you\u2019ll be charged. I typically only trade the major currency pairs, and the average EUR\/USD spread hovers around 1.7, although it\u2019s quite a bit lower if you don\u2019t trade in the two hours after the close of US trading when spreads are typically wider.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Commissions\"><\/span>Commissions<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Oanda doesn&#8217;t usually charge commissions, but they offer two pricing options for traders in the US and some other regions. With their spread-only pricing account, there are no commissions. With their core pricing + commission account, however, you are charged the \u201ccore\u201d spread, which is much lower, plus a commission.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Inactivity_fees\"><\/span>Inactivity fees&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Oanda charges a $10-per-month inactivity fee if your account is unused for more than 12 months. The charges will continue until you resume trading or close your account, or the account balances out to $0. If you do decide to resume trading after you\u2019ve been charged inactivity fees, you can receive a rebate for up to 3 months of fees.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Swap\"><\/span>Swap&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Like all forex brokers, Oanda charges or issues swap fees if you keep a trade open overnight. \u201cOvernight\u201d means any position that is still open past 5:00 p.m. EST. Depending on what currency pairs you\u2019re trading and whether you are long or short, you either have to pay interest or you\u2019ll receive interest for every night your position is open. These rates are constantly changing and are based on the interest rates in the relevant countries. Some traders, known as swap traders, base their <a href=\"https:\/\/mdfinancialskills.org\/forex-trading-strategies-for-beginners\/\" data-type=\"post\" data-id=\"5406\">trading strategy<\/a> on trying to take advantage of interest rate discrepancies.&nbsp;<\/p>\n\n\n\n<p>Oanda uses the same swap rates as every other forex broker, adjusted by their administration fee, which is 1% (annualized) for most forex pairs, but goes up to 4% for any pair involving the Turkish lira.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Withdrawal_fees\"><\/span>Withdrawal fees<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>What Oanda does or doesn\u2019t charge for withdrawals depends on your funding source and where you live. In the US, if you funded your account with a debit card, you get one free withdrawal per month. Any additional withdrawals in that month will incur a $20 fee. If you used a wire transfer for funding, there\u2019s a $20 fee for the first withdrawal per month, which goes up to $35 for additional withdrawals. In countries where traders can use PayPal or credit cards, withdrawals are free when sent back to the Paypal account. Crypto withdrawals are also fee free.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Trade_execution_910\"><\/span>Trade execution (9\/10)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>For this category, I considered both how quickly Oanda executes trades and how easy they make trade execution for their traders. As far as trade speed, Oanda is in the same class as all the best forex brokers. Oanda calculates that, on average, trades are made within 0.012 seconds, although I noticed that they haven\u2019t updated that figure since 2019. I personally have been impressed with their speed and have never experienced any significant slippage.<\/p>\n\n\n\n<p>From the trader\u2019s perspective, executing trades is remarkably fast and easy, regardless of which trading platform you\u2019re using. I\u2019ve included screenshots of their trade screens from their fxTrade mobile app, the web platform, and the desktop platform.<\/p>\n\n\n\n<p>As you can see, Oanda makes it very easy to pull the trigger when you\u2019re ready. When you type in the number of units you want to trade, the trade-value, margin-required, and margin-available fields are all automatically updated. It is easy to see exactly how much you\u2019re risking, and stop losses and take profits are extremely simple to add.&nbsp;<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignleft size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"349\" height=\"703\" src=\"https:\/\/mdfinancialskills.org\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-06-at-10.53.09-AM.png\" alt=\"Screenshot of the trade screen from Oanda's web platform, showing EUR\/USD.\" class=\"wp-image-5430\" style=\"width:336px;height:676px\" srcset=\"https:\/\/mdfinancialskills.org\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-06-at-10.53.09-AM.png 349w, https:\/\/mdfinancialskills.org\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-06-at-10.53.09-AM-149x300.png 149w\" sizes=\"(max-width: 349px) 100vw, 349px\" \/><figcaption class=\"wp-element-caption\">Trade screen from web platform<\/figcaption><\/figure><\/div>\n\n<div class=\"wp-block-image\">\n<figure class=\"alignleft size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"576\" height=\"1024\" src=\"https:\/\/mdfinancialskills.org\/wp-content\/uploads\/2022\/12\/IMG_9545-576x1024.png\" alt=\"Screenshot of mobile trading platform showing a market order for EuR\/USD\" class=\"wp-image-5432\" style=\"width:382px;height:678px\" srcset=\"https:\/\/mdfinancialskills.org\/wp-content\/uploads\/2022\/12\/IMG_9545-576x1024.png 576w, https:\/\/mdfinancialskills.org\/wp-content\/uploads\/2022\/12\/IMG_9545-169x300.png 169w, https:\/\/mdfinancialskills.org\/wp-content\/uploads\/2022\/12\/IMG_9545.png 750w\" sizes=\"(max-width: 576px) 100vw, 576px\" \/><figcaption class=\"wp-element-caption\">Trade screen from mobile trading app<\/figcaption><\/figure><\/div>\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"446\" height=\"798\" src=\"https:\/\/mdfinancialskills.org\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-06-at-11.16.08-AM.png\" alt=\"Screenshot of the desktop trading platform with an order for EUR\/USD\" class=\"wp-image-5431\" style=\"width:378px;height:678px\" srcset=\"https:\/\/mdfinancialskills.org\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-06-at-11.16.08-AM.png 446w, https:\/\/mdfinancialskills.org\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-06-at-11.16.08-AM-168x300.png 168w\" sizes=\"(max-width: 446px) 100vw, 446px\" \/><figcaption class=\"wp-element-caption\">Trade screen from desktop trading platform<\/figcaption><\/figure><\/div>\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Regulation_and_reputation_1010\"><\/span>Regulation and reputation (10\/10)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Oanda is subject to the strictest regulatory bodies in the world. In the US they answer to the Commodity Futures Trading Commission (CFTC) and the <a href=\"https:\/\/www.nfa.futures.org\/BasicNet\/basic-search-results.aspx?rnd=4625.341005029284\" target=\"_blank\" rel=\"noopener\">National Futures Association (NFA)<\/a>. In the UK they are overseen by the Financial Conduct Authority (FCA), and in Canada by the Investment Industry Regulatory Organization (IIROC). They are also regulated in Japan by the Financial Services Agency (FSA), in Singapore and most of the rest of Asia by the Monetary Authority of Singapore (MAS), and in Australia by the Australian Securities and Investment Commission (ASIC), amongst others.&nbsp;<\/p>\n\n\n\n<p>All those acronyms mean that you can rest assured\u2014your money is safe with Oanda.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Safety_and_security_1010\"><\/span>Safety and security (10\/10)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>What does all that regulation mean for you, the trader? To you cynics, it might mean higher trading costs because complying with so many different regulatory bodies is expensive. That\u2019s true, but I\u2019d argue the peace of mind of knowing your capital is safe is worth a stray pip or two.&nbsp;<\/p>\n\n\n\n<p>Oanda\u2019s compliance with so many regulatory agencies means, among other things, that they have to protect traders\u2019 assets, segregate your deposits from their own capital, and always have a certain amount of cash on hand.&nbsp;<\/p>\n\n\n\n<p>You probably read about the crypto broker, FTX. They were <a href=\"https:\/\/mdfinancialskills.org\/pros-and-cons-of-trading-with-unregulated-offshore-forex-brokers\/\" data-type=\"post\" data-id=\"5104\">unregulated<\/a>, did not maintain sufficient cash balances, and clearly didn\u2019t separate client money from their own money. Their spectacular demise was the result. This will never, ever happen to Oanda, and even if it somehow did, your regulatory agency could help you get your funds back.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tradable_assets_810\"><\/span>Tradable assets (8\/10)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Although they still add the occasional currency pair, at my latest count Oanda offered trading in 68 pairs (listed below under Leverage). I\u2019ve never wanted to trade a pair that Oanda didn\u2019t offer, but if you like trading deep exotics, forex.com and other brokers offer 10\u201312 more pairs.&nbsp;<\/p>\n\n\n\n<p>Although Oanda is principally known for forex and <a href=\"https:\/\/mdfinancialskills.org\/what-are-cfds\/\" data-type=\"post\" data-id=\"5185\">CFD trading<\/a>, they recently added crypto to their offerings in the US. In areas where they do offer CFDs, you can trade CFDs covering indices, commodities, bonds, and metals in addition to forex.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Leverage_910\"><\/span>Leverage (9\/10)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The leverage offered by Oanda varies by region, often due to different regulations in different countries. If you are located outside of the US, you may be afforded more leverage, and in most other countries you can trade CFDs, a highly leveraged financial instrument.<\/p>\n\n\n\n<p>In the US, your leverage depends on what currency pair you are trading. Here\u2019s a current chart of each Oanda currency pair, with available leverage:<\/p>\n\n\n\n<style>\n\n.table-container.desktop {\n    display: block !important;\n}\n\n\n.table-mobile {\n    display: none;\n}\n\n\n\n@media only screen and (max-width: 767px) {\n\t.table-container.desktop {\n    display: none !important;\n}\n\t\n\t.table-mobile {\n    display: block;\n}\n\t\n\t\n\t\n}\n<\/style>\n\n\n <div class=\"table-container desktop\">\n \n  <table>\n    <tbody>\n      <tr>\n        <td>EUR\/DKK &nbsp; 10:1<\/td>\n        <td>USD\/HKD &nbsp; 10:1<\/td>\n        <td>CAD\/HKD &nbsp; 10:1<\/td>\n        <td>USD\/ZAR &nbsp; 14:1<\/td>\n        <td>NZD\/HKD &nbsp; 10:1<\/td>\n      <\/tr>\n      <tr>\n        <td>AUD\/SGD &nbsp; 20:1<\/td>\n        <td>EUR\/SEK&nbsp; &nbsp; 33:1<\/td>\n        <td>CAD\/SGD &nbsp; 20:1<\/td>\n        <td>EUR\/GBP&nbsp; 33:1<\/td>\n        <td>EUR\/NZD &nbsp; 33:1<\/td>\n      <\/tr>\n      <tr>\n        <td>USD\/CAD &nbsp; 50:1<\/td>\n        <td>USD\/SGD &nbsp; 20:1<\/td>\n        <td>EUR\/CZK&nbsp; &nbsp; 20:1<\/td>\n        <td>AUD\/CAD&nbsp; 33:1<\/td>\n        <td>GBP\/USD &nbsp; 33:1<\/td>\n      <\/tr>\n      <tr>\n        <td>CHF\/HKD&nbsp; &nbsp; 10:1<\/td>\n        <td>GBP\/NZD &nbsp; 33:1<\/td>\n        <td>GBP\/AUD &nbsp; 33:1<\/td>\n        <td>NZD\/JPY &nbsp; 50:1<\/td>\n        <td>USD\/MXN&nbsp; 10:1<\/td>\n      <\/tr>\n      <tr>\n        <td>AUD\/USD &nbsp; 33:1<\/td>\n        <td>CHF\/ZAR&nbsp; &nbsp; 14:1<\/td>\n        <td>USD\/PLN&nbsp; &nbsp; 20:1<\/td>\n        <td>USD\/CNH&nbsp; 20:1<\/td>\n        <td>USD\/CHF &nbsp; 25:1<\/td>\n      <\/tr>\n      <tr>\n        <td>TRY\/JPY&nbsp; &nbsp; &nbsp; 4:1<\/td>\n        <td>EUR\/CHF &nbsp; 25:1<\/td>\n        <td>GBP\/PLN&nbsp; &nbsp; 33:1<\/td>\n        <td>GBP\/JPY &nbsp; 33:1<\/td>\n        <td>EUR\/HKD&nbsp; 10:1<\/td>\n      <\/tr>\n      <tr>\n        <td>USD\/JPY&nbsp; &nbsp; 50:1<\/td>\n        <td>EUR\/SGD&nbsp; 20:1<\/td>\n        <td>CAD\/JPY&nbsp; &nbsp; 50:1<\/td>\n        <td>USD\/TRY&nbsp; &nbsp; 4:1<\/td>\n        <td>EUR\/HUF&nbsp; 20:1<\/td>\n      <\/tr>\n      <tr>\n        <td>EUR\/TRY &nbsp; &nbsp; 4:1<\/td>\n        <td>USD\/DKK&nbsp; 50:1<\/td>\n        <td>GBP\/HKD &nbsp; 10:1<\/td>\n        <td>USD\/HUF&nbsp; 20:1<\/td>\n        <td>NZD\/SGD&nbsp; 20:1<\/td>\n      <\/tr>\n      <tr>\n        <td>USD\/NOK&nbsp; 14:1<\/td>\n        <td>AUD\/CHF&nbsp; 25:1<\/td>\n        <td>AUD\/JPY&nbsp; &nbsp; 50:1<\/td>\n        <td>NZD\/CHF &nbsp; 25:1<\/td>\n        <td>GBP\/CAD&nbsp; 33:1<\/td>\n      <\/tr>\n      <tr>\n        <td>EUR\/PLN &nbsp; 20:1<\/td>\n        <td>AUD\/NZD&nbsp; 33:1<\/td>\n        <td>GBP\/ZAR &nbsp; 14:1<\/td>\n        <td>NZD\/USD &nbsp; 33:1<\/td>\n        <td>EUR\/CAD&nbsp; 50:1<\/td>\n      <\/tr>\n      <tr>\n        <td>USD\/THB &nbsp; 20:1<\/td>\n        <td>AUD\/HKD&nbsp; 10:1<\/td>\n        <td>USD\/CZK &nbsp; 20:1<\/td>\n        <td>NZD\/CAD &nbsp; 33:1<\/td>\n        <td>SGD\/CHF&nbsp; 20:1<\/td>\n      <\/tr>\n      <tr>\n        <td>GBP\/CHF &nbsp; 33:1<\/td>\n        <td>EUR\/USD&nbsp; 50:1<\/td>\n        <td>ZAR\/JPY&nbsp; &nbsp; 14:1<\/td>\n        <td>EUR\/NOK &nbsp; 14:1<\/td>\n        <td>SGD\/JPY &nbsp; 20:1<\/td>\n      <\/tr>\n      <tr>\n        <td>HKD\/JPY &nbsp; 10:1<\/td>\n        <td>CHF\/JPY &nbsp; 50:1<\/td>\n        <td>EUR\/AUD &nbsp; 33:1<\/td>\n        <td>EUR\/ZAR&nbsp; &nbsp; 14:1<\/td>\n        <td>USD\/SEK&nbsp; 33:1<\/td>\n      <\/tr>\n      <tr>\n        <td>USD\/HKD&nbsp; 10:1<\/td>\n        <td>CAD\/CHF&nbsp; 25:1<\/td>\n        <td>EUR\/JPY&nbsp; &nbsp; 50:1<\/td>\n        <td>GBP\/SGD &nbsp; 33:1<\/td>\n        <td><\/td>\n      <\/tr>\n    <\/tbody>\n  <\/table>\n\n<\/div>\n\n<div class=\"table-mobile\">\n\n  <table>\n   <tbody>\n      <tr>\n         <td>EUR\/DKK &nbsp; 10:1<\/td>\n         <td>USD\/HKD &nbsp; 10:1<\/td>\n      <\/tr>\n      <tr>\n         <td>AUD\/SGD &nbsp; 20:1<\/td>\n         <td>EUR\/SEK&nbsp; &nbsp; 33:1<\/td>\n      <\/tr>\n      <tr>\n         <td>USD\/CAD &nbsp; 50:1<\/td>\n         <td>USD\/SGD &nbsp; 20:1<\/td>\n      <\/tr>\n      <tr>\n         <td>CHF\/HKD&nbsp; &nbsp; 10:1<\/td>\n         <td>GBP\/NZD &nbsp; 33:1<\/td>\n      <\/tr>\n      <tr>\n         <td>AUD\/USD &nbsp; 33:1<\/td>\n         <td>CHF\/ZAR&nbsp; &nbsp; 14:1<\/td>\n      <\/tr>\n      <tr>\n         <td>TRY\/JPY&nbsp; &nbsp; &nbsp; 4:1<\/td>\n         <td>EUR\/CHF &nbsp; 25:1<\/td>\n      <\/tr>\n      <tr>\n         <td>USD\/JPY&nbsp; &nbsp; 50:1<\/td>\n         <td>EUR\/SGD&nbsp; 20:1<\/td>\n      <\/tr>\n      <tr>\n         <td>EUR\/TRY &nbsp; &nbsp; 4:1<\/td>\n         <td>USD\/DKK&nbsp; 50:1<\/td>\n      <\/tr>\n      <tr>\n         <td>USD\/NOK&nbsp; 14:1<\/td>\n         <td>AUD\/CHF&nbsp; 25:1<\/td>\n      <\/tr>\n      <tr>\n         <td>EUR\/PLN &nbsp; 20:1<\/td>\n         <td>AUD\/NZD&nbsp; 33:1<\/td>\n      <\/tr>\n      <tr>\n         <td>USD\/THB &nbsp; 20:1<\/td>\n         <td>AUD\/HKD&nbsp; 10:1<\/td>\n      <\/tr>\n      <tr>\n         <td>GBP\/CHF &nbsp; 33:1<\/td>\n         <td>EUR\/USD&nbsp; 50:1<\/td>\n      <\/tr>\n      <tr>\n         <td>HKD\/JPY &nbsp; 10:1<\/td>\n         <td>CHF\/JPY &nbsp; 50:1<\/td>\n      <\/tr>\n      <tr>\n         <td>USD\/HKD&nbsp; 10:1<\/td>\n         <td>CAD\/CHF&nbsp; 25:1<\/td>\n      <\/tr>\n      <tr>\n         <td>CAD\/HKD &nbsp; 10:1<\/td>\n         <td>USD\/ZAR &nbsp; 14:1<\/td>\n      <\/tr>\n      <tr>\n         <td>NZD\/HKD &nbsp; 10:1<\/td>\n         <td>CAD\/SGD &nbsp; 20:1<\/td>\n\t  <\/tr>\n      <tr>\n         <td>EUR\/GBP&nbsp; 33:1<\/td>\n         <td>EUR\/NZD &nbsp; 33:1<\/td>\n      <\/tr>\n      <tr>\n         <td>EUR\/CZK&nbsp; &nbsp; 20:1<\/td>\n         <td>AUD\/CAD&nbsp; 33:1<\/td>\n      <\/tr>\n      <tr>\n         <td>GBP\/USD &nbsp; 33:1<\/td>\n         <td>GBP\/AUD &nbsp; 33:1<\/td>\n      <\/tr>\n      <tr>\n         <td>NZD\/JPY &nbsp; 50:1<\/td>\n         <td>USD\/MXN&nbsp; 10:1<\/td>\n      <\/tr>\n      <tr>\n         <td>USD\/PLN&nbsp; &nbsp; 20:1<\/td>\n         <td>USD\/CNH&nbsp; 20:1<\/td>\n      <\/tr>\n      <tr>\n         <td>USD\/CHF &nbsp; 25:1<\/td>\n         <td>GBP\/PLN&nbsp; &nbsp; 33:1<\/td>\n      <\/tr>\n      <tr>\n         <td>GBP\/JPY &nbsp; 33:1<\/td>\n         <td>EUR\/HKD&nbsp; 10:1<\/td>\n      <\/tr>\n      <tr>\n         <td>CAD\/JPY&nbsp; &nbsp; 50:1<\/td>\n         <td>USD\/TRY&nbsp; &nbsp; 4:1<\/td>\n      <\/tr>\n      <tr>\n         <td>EUR\/HUF&nbsp; 20:1<\/td>\n         <td>GBP\/HKD &nbsp; 10:1<\/td>\n      <\/tr>\n      <tr>\n         <td>USD\/HUF&nbsp; 20:1<\/td>\n         <td>NZD\/SGD&nbsp; 20:1<\/td>\n      <\/tr>\n      <tr>\n         <td>AUD\/JPY&nbsp; &nbsp; 50:1<\/td>\n         <td>NZD\/CHF &nbsp; 25:1<\/td>\n      <\/tr>\n      <tr>\n         <td>GBP\/CAD&nbsp; 33:1<\/td>\n         <td>GBP\/ZAR &nbsp; 14:1<\/td>\n      <\/tr>\n      <tr>\n         <td>NZD\/USD &nbsp; 33:1<\/td>\n         <td>EUR\/CAD&nbsp; 50:1<\/td>\n      <\/tr>\n      <tr>\n         <td>USD\/CZK &nbsp; 20:1<\/td>\n         <td>NZD\/CAD &nbsp; 33:1<\/td>\n      <\/tr>\n      <tr>\n         <td>SGD\/CHF&nbsp; 20:1<\/td>\n         <td>ZAR\/JPY&nbsp; &nbsp; 14:1<\/td>\n      <\/tr>\n      <tr>\n         <td>EUR\/NOK &nbsp; 14:1<\/td>\n         <td>SGD\/JPY &nbsp; 20:1<\/td>\n      <\/tr>\n      <tr>\n         <td>EUR\/AUD &nbsp; 33:1<\/td>\n         <td>EUR\/ZAR&nbsp; &nbsp; 14:1<\/td>\n      <\/tr>\n      <tr>\n         <td>USD\/SEK&nbsp; 33:1<\/td>\n         <td>EUR\/JPY&nbsp; &nbsp; 50:1<\/td>\n      <\/tr>\n      <tr>\n         <td>GBP\/SGD &nbsp; 33:1<\/td>\n         <td><\/td>\n      <\/tr>\n   <\/tbody>\n<\/table>\n\n\n\n  <\/div>\n\n\n\n\n<p>As you can see, for most pairs, leverage is 20:1 or higher, all the way up to 50:1 for some of the major currency pairs. Exotic pairs offer significantly less leverage, for example the US dollar\/Turkish lira, which offers just 4:1.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Trading_resources_and_education_1010\"><\/span>Trading resources and education (10\/10)&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>As you probably gathered from my trading platform review, I love the resources Oanda makes available, and how well they package them all, particularly within the mobile app. Even if you don\u2019t make a lot of trades with Oanda, you can learn a tremendous amount simply by exploring their trading tools and watching the tutorials.<\/p>\n\n\n\n<p>Oanda uses TradingView to provide their impressive charting capabilities, which includes 11 chart types and almost 70 technical indicators, plus comparison and drawing tools. You can also add Oanda\u2019s own Technical Analysis tool to your platforms, which allows you to set up pattern alerts, provides volatility analysis, and identifies trading opportunities. If that\u2019s somehow not enough, Oanda has also partnered with MotiveWave to give you even more charting options.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"681\" src=\"https:\/\/mdfinancialskills.org\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-06-at-11.48.20-AM-1024x681.png\" alt=\"Screenshot of Oanda's Advanced Charting tool with EUR\/USD candlestick overlayed with Bollinger bands.\" class=\"wp-image-5433\"\/><figcaption class=\"wp-element-caption\">Oanda&#8217;s Advanced Charting, featuring Bollinger Bands in this screenshot,  is just one of many incredibly useful trading tools<\/figcaption><\/figure>\n\n\n\n<p>You can also stay abreast of overall market conditions by adding an economic calendar to your platforms, or by taking advantage of Oanda\u2019s partnership with Dow Jones FX Select. Oanda also offers MarketPulse, a news site that offers constantly updated forex videos and articles.<\/p>\n\n\n\n<p>There\u2019s also no shortage of educational resources, which are available even if you don\u2019t ultimately use Oanda. Oanda takes you from the very basics through advanced charting, all with easily digestible 3\u20135 minute videos and accompanying text. And, of course, there\u2019s the most important learning tool of all: the demo account.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Sign-up_and_withdrawal_process_810\"><\/span>Sign-up and withdrawal process (8\/10)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Thanks to anti-money laundering laws, forex brokers have to make sure they verify the identity of every trader. With the proper documents, deposits and withdrawals are usually handled through their automated system and completed in mere moments. If anything goes amiss, however, it can take forever to get things back on track.&nbsp;<\/p>\n\n\n\n<p>Oanda actually handles these issues better than most, but there is still room for improvement. I personally have never had any problems, but you don\u2019t have to google too hard to find some traders who have. My general rule of thumb with Oanda (and any other forex broker) is that if you have a seamless account-opening experience, withdrawals will be the same. If you do have a problem opening an account, probably best to find another broker.&nbsp;<\/p>\n\n\n\n<p>Also, be sure that whatever you use to open your account\u2014bank account, debit card, or whatever\u2014is still open when you want to make a withdrawal. If you try to fund your Oanda account with a debit card, when you make a withdrawal they will send the money to the same account. If that account is closed, it can cause a lot of unnecessary complications.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Customer_service_810\"><\/span>Customer service (8\/10)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A forex broker\u2019s customer service department might seem like an afterthought, but if you do run into an issue with identity verification and it\u2019s holding up a withdrawal, it\u2019s the customer service department that makes sure you get your money.&nbsp;<\/p>\n\n\n\n<p>I have used the chat service on the website, and was able to quickly get beyond the answer bot to chatting with a real person. I\u2019ve never had an issue that wasn\u2019t resolved quickly, but maybe that\u2019s a function of the simple issues that I tend to have problems with. <\/p>\n\n\n\n<p>I&#8217;m not a huge fan of their email response, as they tend to call you back in order to answer your question. I guess that&#8217;s a more personal touch, but if I wanted to talk rather than email, I would have called myself.  <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Overall_rating_910\"><\/span>Overall rating (9\/10)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"683\" height=\"70\" src=\"https:\/\/mdfinancialskills.org\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-06-at-1.03.27-PM.png\" alt=\"\" class=\"wp-image-5434\" style=\"width:542px;height:56px\" srcset=\"https:\/\/mdfinancialskills.org\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-06-at-1.03.27-PM.png 683w, https:\/\/mdfinancialskills.org\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-06-at-1.03.27-PM-300x31.png 300w\" sizes=\"(max-width: 683px) 100vw, 683px\" \/><\/figure>\n\n\n\n<p>Overall, Oanda scored an impressive 9 out of 10, thanks in part to perfect scores in Regulation and Reputation, Safety, and Resources. I also love their trading platforms and their trade execution ranks them among the fastest forex brokers in the world. If they added a few more currency pairs, improved their customer service a bit, and streamlined the sign-up and withdrawal processes, they\u2019d be close to the perfect forex broker.&nbsp;<\/p>\n\n\n\n<p>If you\u2019re shopping for a forex broker, you won\u2019t find many better. With their <a href=\"https:\/\/mdfinancialskills.org\/go\/oanda\/fx\/review\">current sign-up bonus for US traders<\/a>, they are definitely worth a shot.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Oanda_FAQs\"><\/span>Oanda FAQs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Who_can_use_Oanda\"><\/span>Who can use Oanda?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Through Oanda Corporation and its subsidiaries, Oanda is available to traders worldwide, including those in the US, Australia, Europe, UK, Japan, Africa, and most of Asia.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_account_types_does_Oanda_offer\"><\/span>What account types does Oanda offer?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Oanda offers two types of accounts for its US traders. There\u2019s a standard account and an Advanced Trader loyalty account. The differences start with the minimum balance. Standard accounts have no minimum, but you\u2019ll need $10,000 to open an advanced account, and you also have to meet a minimum trading volume.<\/p>\n\n\n\n<p>The main advantages of an Advanced Trader account are cash rebates and commission markdowns, but you also get a dedicated relationship manager and unlimited free wire transfers, and you can jump the line if you need to deal with customer service.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_deposit_methods_can_I_use\"><\/span>What deposit methods can I use?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>There is some variation on how you can fund and open a trading account depending on your country of residence. In the US, Oanda accepts deposits via debit card, Instant ACH, which makes a portion of your ACH deposit available immediately before the rest clears, or wire transfer, which takes one to three days.&nbsp;<\/p>\n\n\n\n<p>Oanda also accepts deposits via Paypal, Skrill, and Neteller as well as credit cards and some e-wallets, depending on where you are located. Keep in mind that withdrawals go out via the same account, so don\u2019t close the bank account, Paypal account, or whatever you used to fund your Oanda account.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Where_is_Oanda_based\"><\/span>Where is Oanda based?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Oanda Corporation is based in New York, but owns subsidiaries worldwide, including Oanda Asia Pacific PTE, Oanda Australia PTY, and Oanda Europe Limited.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_does_Oanda_mean\"><\/span>What does Oanda mean?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The name Oanda stands for Olsen and Associates. The company was founded in 1996 by Dr. Richard Olsen, an economist, and his associates, most notably Dr. Michael Stumm, a professor of computer engineering.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_Oandas_contact_info\"><\/span>What is Oanda\u2019s contact info?&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Oanda is most easily reached through the chat function, known as Oanda Assistant, on their website. It is available in six languages, and can be found at the bottom of the Help Portal page. You can also email them at <a href=\"mailto:frontdesk@oanda.com\">frontdesk@oanda.com<\/a>. Phone representatives are available 24 hours a day, 5 days a week at the following numbers:<\/p>\n\n\n\n<p>North America: 1-877-626-3239<\/p>\n\n\n\n<p>Europe: +44-20-7101-1600 or +44-20-3151-2050&nbsp;<\/p>\n\n\n\n<p>Asia Pacific: +65-6579-8289<\/p>\n\n\n\n<p>Australia: +61-2-8046-6258 or 1300-0-62632<\/p>\n\n\n\n<p>Japan: +0120-923-213<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_long_do_Oanda_withdrawals_take\"><\/span>How long do Oanda withdrawals take?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The processing of your withdrawal payments depends on the method you used to fund your account since any withdrawals will be sent to the same source. Withdrawals by bank transfer typically take one to two business days, Paypal withdrawals happen within one day, debit\/credit card withdrawals one to three business days, and withdrawals to other international accounts can take up to five business days.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_the_minimum_deposit_for_Oanda\"><\/span>What is the minimum deposit for Oanda?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Oanda has no minimum deposit, unless you want to sign up for an Advanced Trader account. To receive all the benefits of an Advanced Trader Account, including reduced trading costs, you have to deposit $10,000 or more.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Is_Oanda_safe\"><\/span>Is Oanda safe?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Oanda is extremely safe. They\u2019ve been in business for more than 20 years, and are regulated in the US, the UK, Japan, SIngapore, Australia, and elsewhere. To remain in compliance with their regulators, Oanda must maintain certain cash balances and keep client accounts separate from their own capital.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Is_Oanda_good_for_beginners\"><\/span>Is Oanda good for beginners?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Yes, Oanda is a great broker for new forex traders. They offer outstanding educational resources, trading platforms that are highly functional yet easy to navigate, and an extremely simple trade screen. From their tutorials that provide an excellent intro to forex markets to the actual process of making your first trade, Oanda is a great guide. They are also currently offering a great sign-up bonus for first-time traders.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_trade_with_Oanda\"><\/span>Why trade with Oanda?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Oanda offers an incredible array of trading tools and resources all neatly packaged in their groundbreaking trading platforms. Their trading execution is great, fees are minimal, and they\u2019re amongst the safest brokers in the world. Their current offer of a <a href=\"https:\/\/mdfinancialskills.org\/go\/oanda\/fx\/review\">significant sign-up bonus<\/a> for new US traders makes them all the more appealing.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Risks_of_forex_trading\"><\/span>Risks of forex trading<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>As I note in every forex article I write, forex trading poses significant financial risk. The majority of forex traders lose money, and if you are trading on margin, you could lose more than your initial deposit. Do not start trading forex unless you have spent significant time learning the market, have selected and mastered a trading strategy, <a href=\"https:\/\/mdfinancialskills.org\/how-to-reduce-forex-risk\/\" data-type=\"post\" data-id=\"5278\">learned to manage risk<\/a> and have practiced trading with a demo account.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion_Should_I_trade_with_Oanda\"><\/span>Conclusion: Should I trade with Oanda?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Yes. If you want to trade with one of the safest brokers in the world that also offers the best trading platforms, provides excellent trading tools and resources, and has impressive sign-up bonuses for new traders, <a href=\"https:\/\/mdfinancialskills.org\/go\/oanda\/fx\/review\">you should definitely trade with Oanda<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After trading with Oanda for six months, I offer my opinions on the pros and cons of trading forex with them. I grade Oanda in 10 categories that are critically important to forex traders.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":""},"post_excerpt_stackable":"<p>After trading with Oanda for six months, I offer my opinions on the pros and cons of trading forex with them. I grade Oanda in 10 categories that are critically important to forex traders.<\/p>\n","category_list":"<a href=\"https:\/\/mdfinancialskills.org\/category\/trading\/forex-trading\/\" rel=\"category tag\">Forex Trading<\/a>","author_info":{"name":"Michael Diamond","url":"https:\/\/mdfinancialskills.org\/author\/michael\/"},"comments_num":"0 comments","featured_image_urls_v2":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":""},"post_excerpt_stackable_v2":"<p>After trading with Oanda for six months, I offer my opinions on the pros and cons of trading forex with them. I grade Oanda in 10 categories that are critically important to forex traders.<\/p>\n","category_list_v2":"<a href=\"https:\/\/mdfinancialskills.org\/category\/trading\/forex-trading\/\" rel=\"category tag\">Forex Trading<\/a>","author_info_v2":{"name":"Michael Diamond","url":"https:\/\/mdfinancialskills.org\/author\/michael\/"},"comments_num_v2":"0 comments","_links":{"self":[{"href":"https:\/\/mdfinancialskills.org\/wp-json\/wp\/v2\/posts\/5422"}],"collection":[{"href":"https:\/\/mdfinancialskills.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mdfinancialskills.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mdfinancialskills.org\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/mdfinancialskills.org\/wp-json\/wp\/v2\/comments?post=5422"}],"version-history":[{"count":2,"href":"https:\/\/mdfinancialskills.org\/wp-json\/wp\/v2\/posts\/5422\/revisions"}],"predecessor-version":[{"id":6809,"href":"https:\/\/mdfinancialskills.org\/wp-json\/wp\/v2\/posts\/5422\/revisions\/6809"}],"wp:attachment":[{"href":"https:\/\/mdfinancialskills.org\/wp-json\/wp\/v2\/media?parent=5422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mdfinancialskills.org\/wp-json\/wp\/v2\/categories?post=5422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mdfinancialskills.org\/wp-json\/wp\/v2\/tags?post=5422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}