OANDA review 2025:
All you need to know
In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with OANDA. As a leading financial media outlet, our editorial content is driven by rigorous research and data-driven insights, free from external influence. This assessment offers a transparent evaluation of OANDA’s conditions, tools, support, regulatory standing, and overall suitability for traders.
OANDA provides a comprehensive trading experience for traders of all skill levels worldwide, offering access to over 1,100 instruments across major asset classes (asset classes vary by region). With multiple account types, competitive spreads, and strong regulatory oversight, it ensures a reliable and flexible trading environment.
Note: When reviewing OANDA, it is important to emphasize that the broker operates several entities across different regions, each with varying levels of regulatory oversight, services, and customer experiences. Therefore, for fairness and accuracy, we have based our scoring on the best-performing region for each of the factors under review.
Account Conditions
7.2
Tools and Resources
8.6
Customer Service and Support
6.0
Trading Settings
9.0
Trust
9.5
User Experience
6.5
How do we score brokers
Founded in 1996, OANDA has established itself as a reputable broker known for its innovation and reliability. It offers a diverse range of financial instruments, including forex pairs, indices, commodities, stocks CFDs, metals, ETFs, bonds, and cryptocurrencies (in the US, cryptocurrencies are offered through Paxos, a separate legal entity from OANDA). Availability of specific asset classes varies by region. OANDA’s proprietary platform, OANDA Trade, is accessible via both web and mobile, offering traders flexibility and seamless convenience. Additionally, users can opt for popular third-party platforms such as MetaTrader 4, MetaTrader 5, and TradingView. These platforms offer advanced charting capabilities, customizable layouts, and a range of analytical tools including depth of market functionality.
OANDA stands out for its clear and fair pricing, offering competitive spreads and different account types to suit various trading styles. Traders get useful tools like live market news, an economic calendar, and advanced charts to help them make informed decisions. The broker also offers educational resources through MarketPulse and OANDA Labs, including webinars and trading guides, making it a great option for both beginners and experienced traders.
OANDA is regulated by top financial authorities like the FCA in the United Kingdom (UK), ASIC in Australia, and the CFTC in the United States (US), ensuring strong security, transparency, and compliance with global standards. However, some features and services may not be available in certain regions due to local restrictions.
| 🗺️ Regulated geos/regions |
Commodity Futures Trading Commission (CFTC) and National Futures Association (NFA) in the US. Financial Conduct Authority (FCA) in the UK. Canadian Investment Regulatory Organization (CIRO) in Canada. Australian Securities and Investment Commission (ASIC) in Australia. Monetary Authority of Singapore (MAS) in Singapore. Japanese Financial Services Authority (JFSA) in Japan. British Virgin Islands Financial Services Commission (BVIFSC) in the British Virgin Islands (BVI). OANDA TMS is regulated by the Polish Financial Services Authority (KNF). |
| ✅ Deposit/Withdrawal Currencies/Crypto |
Includes EUR, USD, GBP, AUD, CAD, CHF, HKD, JPY, and SGD. |
| 💰 Minimum deposit |
No minimum deposit. |
| 💱 Bonuses/promotions |
Welcome Bonus (promotions vary by region). |
| 💱 Tradable asset classes |
Includes Forex, Indices, Bonds, Metals, Commodities, ETFs and Stock CFDs (regional restrictions apply). In the US you cannot trade indices, bonds, metals, commodities, ETFs and stock CFDs. Spot Crypto and Crypto CFD trading is available depending on regional regulations. In the US spot crypto is traded through Paxos. Paxos is a separate legal entity. Spot cryptocurrencies are available in the UK via OANDA Crypto through the integration of Coinpass in August 2023. |
| 💸 Costs (spreads, fees, commissions) |
Spread only pricing on forex majors from 0.6 pips. Reported average spreads on majors from 1.18 pips. Inactivity fee after 12 months of £10 (or equivalent) per month. |
| 💹 Leverage |
In the US leverage for Forex is 50:1. CFDs’ are not available in the US. Leverage varies across regulatory regions however can generally be up to: Forex: 50:1. Precious Metals CFDs: 20:1. Index CFDs: 20:1. Energies CFDs: 10:1. Soft Commodities: 20:1 Commodity CFDs: 10:1. Individual Stock CFDs: 5:1. Bond CFDs: 5:1. Crypto CFDs: 2:1. OANDA Global registered in BVI offers up to 200:1 for forex and 100:1 for energies. Regional availability applies to certain assets. |
| 🏗️ Trading platforms allowed |
OANDA Trade web-based platform and mobile app, TradingView, MetaTrader 4 (MT4) and MetaTrader 5 (MT5) not available in the US. |
| ⛔ Restricted regions |
Afghanistan, Albania, Algeria, Angola, Barbados, Burkina Faso, Cambodia, Cameroon, Congo, Cuba, Democratic Republic of Congo, Guinea-Bissau, Haiti, Iran, Iraq, Jamaica, Libya, Mali, Mozambique, Myanmar, Nicaragua, North Korea, Pakistan, Panama, Somalia, South Sudan, Sudan, Syria, Trinidad and Tobago, Uganda, Vanuatu, Venezuela, Yemen, and Zimbabwe. OANDA's Prop Trader program does not accept traders from the United Kingdom, US, Canada, Venezuela, and Cuba. |
| 🗣️ Customer service languages available |
Several languages including English, Spanish, Mandarin, French, German, Russian, Japanese, and Polish (specific to OANDA TMS). The website is currently available in 10 languages. |
OANDA Account Conditions Score
Account Conditions
7.2
Regulated regions
- United States: Commodity Futures Trading Commission (CFTC) as a Retail Foreign Exchange Dealer (RFED) and Futures Commission Merchant (FCM), license number 0325821.
- United Kingdom: Financial Conduct Authority (FCA), license number 542574.
- Australia: Australian Securities and Investments Commission (ASIC), license number 412981.
- Canada: Canadian Investment Regulatory Organization (CIRO).
- Singapore: Monetary Authority of Singapore (MAS), license number CMS100122-4.
- Japan: Financial Services Authority (FSA), license number 1571.
- British Virgin Islands (BVI): British Virgin Islands Financial Services Commission (BVIFSC), license number SIBA/L/20/1130.
- Poland: OANDA TMS Polish Financial Supervision Authority (KNF), license number KPWiG-4021-54-1/2004.
Currencies accepted for deposits/withdrawals
OANDA accounts can be held in various currencies, including USD, EUR, GBP, AUD, CAD, CHF, JPY, HKD, SGD amongst other regional currencies.
OANDA Crypto in the UK accepts deposits in GBP via Faster Payments System (FPS) or SWIFT.
Account types
Standard Account: This is the most common account offering access to the asset classes available in your region with no minimum deposit. It offers spread-only pricing.
Spread Betting Account (only in the UK): Offers tax-free trading for UK residents with a spread-only pricing model.
Sub-Accounts: OANDA offers sub-accounts as a feature that allows traders to create multiple trading accounts under their main account. Traders can select the relevant sub-account(s) through their dashboard.
- v20: The standard account type, compatible with OANDA proprietary web-based platform, mobile app and TradingView.
- v20 MT4: Available on OANDA web and mobile applications, MT4 and TradingView.
Elite Trader Account: This account is for higher-volume traders and offers benefits such as lower spreads and a dedicated Relationship Manager.
Minimum deposit
No minimum deposit to open a Standard Account.
Costs and fees
Standard Spread Only Account: Spreads starting from 1.4 pips.
OANDA provides live spread information for currencies which shows the average spread and spread stability over the last month and three months.
Share CFDs on OANDA incur a commission of 0.06% of the position's notional value for both opening and closing trades. This commission is applied in addition to the spread of the instrument. Share CFDs not available in the US.
Spread Betting (only available in the UK): Similar to the spread-only account, starting from 0.6 pips.
Other Fees
- Rollover fees apply for overnight positions and are dependent on the instrument being traded. The rates and costs are provided on the broker’s website.
- OANDA provides Guaranteed Stop Loss Orders (GSLOs) for premium clients in select regions, with fees starting at around 1 pip if the GSLO is triggered. Not available in the US.
- OANDA does not charge margin closeout fees, making it more cost-effective in high-leverage situations.
- Inactivity fees apply after 12 months of the account being dormant (£10 or equivalent per month).
- It does not charge for depositing funds, but each deposit method has its own specific conditions, including potential third-party fees and minimum deposit amounts.
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OANDA applies a tiered fee structure for withdrawals:
- Credit/Debit Card: The first withdrawal each month is free, with subsequent withdrawals incurring fees of £10 (UK), $15 (US), and €15-€20 (Europe). In Singapore, SGD debit card withdrawals remain free. Credit cards may not be used for funding in the US.
- Bank Transfers: Always subject to fees, starting at £10 (UK), $20 (US), and €20 (Europe) for the first withdrawal, with higher charges for additional withdrawals in the same month.
- Third-Party Fees: Additional charges may apply, depending on the payment provider.
Bonus and promotions
OANDA offers welcome bonuses in the US.
Welcome Bonus Promotion rewards new account holders with bonuses based on their initial deposit amount and meeting specific trading volume requirements.
For example: Deposits between $1,000 and $9,999.99 qualify for a $100 bonus with a minimum of $500,000 notional trade volume (Tier 1). Deposits between $10,000 and $49,999.99 qualify for a $1000 bonus with a minimum of $1,000,000 notional trade volume (Tier 2). While deposits of $50,000 or more receive a $10,000 bonus within a minimum notional trade bonus of $50,000,000 (Tier 3).
Terms apply. Opt in is required and deposit and trade volume must be met within 90 days of opt in. Limited to one per household.
Elite Trader Program: This loyalty program is tailored for high-volume traders and provides higher rebates and exclusive benefits. It follows standard trading costs, including spreads and commissions, but rewards traders with cash rebates ranging from $5 to $17 per million traded, provided they meet a $10 million monthly trading volume. Currently, the program is available in select regions, including the US and Canada, but is not offered in the UK.
Prop Trader Program allows traders to manage up to $500,000 in virtual funds through a two-phase evaluation process, offering profit potential with strict risk controls.
Depositing ease
OANDA supports multiple funding methods, including Debit/MasterCard and Debit/Visa, PayPal (not available in the US), bank transfers (e.g. Faster Payments, Bacs, CHAPS, SEPA, SWIFT), and alternative options like Skrill and Neteller in certain regions (not available in the US). However, the Spanish regulator (CNMV) prohibits residents from making deposits by credit card to fund CFD trading.
Deposits are typically processed within one business day, while bank transfers may take one to three business days domestically and up to five days internationally. Most withdrawals are completed within one business day.
The experience of opening an account in the US versus the UK differed significantly. In the UK, verification was completed within 24 hours, making the deposit process seamless. We were able to fund multiple accounts quickly and had the option to deposit via credit/debit card or bank transfer. Opting for a debit card, our deposit was processed instantly.
Depositing funds into a US OANDA account proved to be a difficult process for our US colleague. Even when deposits were approved, they typically took at least five business days to clear. In several cases, OANDA used the full five-day period before returning the funds. Additionally, bank statements had to meet strict AML requirements, requiring our colleague to request a custom document from their bank consolidating all necessary details onto a single page. Despite multiple attempts to meet OANDA's criteria, the issue was never resolved, and the account remained unfunded.
Withdrawing ease
OANDA offers easy withdrawals via Visa/Debit or Debit/Mastercard, bank transfers. PayPal, Skrill, and Neteller (region-specific not available in the US). Processing times range from one to three business days for cards and domestic transfers, and up to five days for international transfers.
Clients are required to withdraw funds using the same method they used for deposits, and the currency must match the deposit currency.
It’s worth noting that there are minimum withdrawal amounts applied depending on the transfer method chosen.
When withdrawing funds from our accounts, we initially transferred the funds into a single account before requesting the withdrawal. This was to avoid the charges of making multiple withdrawals in a month. The process was completed within minutes and was seamless.
OANDA Trading Experience Score
Trading Experience
9.0
Tradeable asset classes
OANDA offers a range of tradable instruments across various assets including Forex, Metals, Commodities, Bonds, Indices, ETFs, Stock CFDs and Cryptos. Spot Crypto in the US is traded through Paxos, a separate legal entity from OANDA, CFDs/ETFs and metals are not available in the US.
Not all instruments offered by OANDA are available globally. The specific tradable instruments depend on regulatory restrictions, market demand, and licensing requirements in different regions.
Each account provides access to a unique range of asset classes and instruments, with the availability of instruments varying across different platforms.
Standard account: OANDA offers a range of tradable instruments across various assets, although the numbers vary according to your region.
- 68 Forex pairs (Majors, Minors and Exotics).
- 21 Metals (Spot). (Not available in the US).
- 15 Commodities (including 3 energies; WTI Oil, Brent Crude and Natural Gas, 5 metals; Gold, Silver, Platinum, Palladium and Copper, 7 agricultural; Cocoa, Coffee, Sugar, Wheat, Cotton, Soybean and Corn). (Not available in the US).
- 6 Bond CFDs (US Treasuries, UK Gilt and German Bund). (Not available in the US).
- 15 Major Global Indices (US, European and other major markets). (Not available in the US).
- 40 plus ETFs (Major markets such as SPY, QQQ’s, Emerging markets and sector ETFs including Technology, Financial, Energy, etc.). (Not available in the US).
- 1,500 plus Stock CFDs (, UK and EU). (Not available in the US).
- 10 plus Crypto CFDs (Bitcoin, Ethereum, etc.). (Not available in the US).
Spread betting: 65 Forex pairs, 15 Major Indices, 3 Metals including Gold, Silver and Platinum, 10 Commodities including WTI Oil, Brent Crude, Natural Gas, Copper, Corn and others and 6 Bonds. (Not available in the US).
Spot Crypto trading is limited in some regions because of local rules. However, OANDA Crypto facilitates trading in the UK by integrating Coinpass into its group. In the US, access is provided through a partnership with Paxos. This type of trading involves directly buying and selling cryptocurrencies without using leverage. They offer 8 various Cryptocurrencies including most of the majors, such as BTC, Ethereum and Litecoin.
OANDA offers cryptocurrency CFDs in several regions, including Europe, Australia, Asia-Pacific (e.g. Singapore), and under its Global Markets (BVI) entity. Clients can trade popular cryptocurrencies like Bitcoin (BTC/USD), Bitcoin Cash (BCH/USD), Ether (ETH/USD) and Litecoin (LTC/USD).
Lot sizes
OANDA uses a flexible unit-based system for trade sizes instead of fixed lot sizes.
Lot equivalents: 1 standard lot = 100,000 units, 1 mini lot = 10,000 units, 1 micro lot = 1,000 units.
Minimum trade sizes are the same on the MT4 and OANDA platforms but are expressed differently:
- MT4 and TradingView: Forex 0.01, Indices 0.1, Metals 0.01, Commodities CFDs 0.01 and Bond CFDs 0.01.
- OANDA Trade: Forex 0.1, Indices 1, Metals 1, Commodities CFDs 1 and Bond CFDs 1.
OANDA's proprietary platform allows trading in fractions of currency units, offering more precise position sizing than traditional lot-based systems. Note that lot sizes can go as small as a nano lot. To ensure the correct amount is entered, simply refer to the trade values provided in the order box, which makes it easy to verify the correct sizing.
Leverage
OANDA offers leverage across all its account types and across all regions, with a maximum leverage of up to 200:1 for Forex.
- British Virgin Islands (BVI) up to 200:1.
- United States up to 50:1 Majors, 20:1 for others.
- Canada up to 50:1 Majors.
- Europe (UK and EU) and Australia 30:1 for Majors.
- Singapore up to 20:1 for Majors.
- Japan up to 25:1 for Majors.
In stricter regulated regions typically, retail clients can receive leverage up to:
- Forex Majors 30:1.
- Minors and Gold 20:1.
- Major Indices 20:1.
- Commodities 10:1.
- Stock CFDs 5:1.
- Crypto CFDs 2:1.
Execution quality
OANDA operates a hybrid model, combining No Dealing Desk with Market Maker liquidity.
OANDA highlights its proprietary v20 trading engine, which states execution speeds as fast as 1.3 milliseconds. Reputable brokers aim for execution speeds under 10 milliseconds, so 1.3 milliseconds is much faster than the average.
It has partnered with VPS providers like BeeksFX, Liquidity Connect, and MyTradeHost to offer 24/7 hosting for automated strategies and ultra-low latency connections. These services are free for high-volume traders or Elite Trader program clients, while others can access them for a fee based on the provider and selected package.
OANDA accesses a variety of major liquidity providers including Citibank, UBS, JP Morgan and many more.
The overall experience while trading across multiple instruments in various asset classes and accounts was positive. On several occasions, we received favorable price fills or fills at the expected price. Any price deviations were minimal and generally within expected limits. Execution speed remained consistently fast, with no noticeable delays, ensuring a smooth and seamless trading experience.
OANDA Tools and Resources
Tools and Resources
8.6
Trading platform
OANDA offers a range of trading platforms, including MetaTrader 4, MetaTrader 5 (not available in the US), and TradingView, which are available on both desktop and mobile. Additionally, OANDA Trade, the broker’s proprietary platform, is exclusively accessible as a web-based and mobile application. The third-party platforms are widely used across the industry and are highly regarded for their reliability and advanced trading features.
The platforms work well for different trading styles and offer many tools and features to help traders regardless of their experience level.
During our testing we did notice a slight delay when placing pending orders or moving existing orders on the OANDA Trade platform.
Trading tools
OANDA's MetaTrader 5 (MT5) platform (not available in the US) is available to its global clients offering advanced trading features and premium tools:
- Comprehensive Tools: Advanced order types, technical analysis tools, Depth of Market (DoM), and integrated economic calendar.
- Premium Add-ons: Tools like Alarm Manager, Keyboard Trading, Mini Terminal, Tick Chart Trader, and Renko Charts, enhancing efficiency and market analysis.
- Automation: Support for automated trading with MQL5 for creating custom indicators and Expert Advisors.
OANDA provides a wide range of trading tools designed to equip traders with advanced features. These include advanced charts powered by TradingView, which offers over 65 technical indicators, AutoChartist integration for automated chart pattern detection and market scanning, as well as an economic overlay that delivers real-time updates on significant global economic events.
Traders can also access Dow Jones FX Select for expert market news and commentary.
OANDA's Market Pulse website delivers real-time market news, expert trend analysis, and in-depth policy commentary, keeping traders informed of the latest market developments. These resources are integrated into OANDA's trading platforms, including OANDA Trade and MetaTrader 4 and 5 (not available in the US).
The broker offers a comprehensive educational portal that features a variety of resources, including videos, eBooks, webinars, and events, catering to both beginners and experienced traders. The content covers essential topics such as leveraged trading, technical and fundamental analysis, indicators, oscillators, and risk management. OANDA Labs offers a wide array of resources which are presented in a user-friendly format.
Demo accounts are available.
OANDA does not offer PAMM, MAMM or Copy Trading services.
OANDA Trust
Trust
9.5
Regulation tiers
OANDA operates under Multiple Tier 1 regulatory bodies.
- Tier 1
- United States: Commodity Futures Trading Commission (CFTC).
- Canada: Canadian Investment Regulatory Organization (CIRO).
- United Kingdom: Financial Conduct Authority (FCA).
- Australia: Australian Securities and Investments Commission (ASIC).
- Singapore: Monetary Authority of Singapore (MAS).
- Japan: Financial Services Agency (FSA).
- Tier 2
- Europe: OANDA TMS: Regulated by the Polish Financial Supervision Authority (KNF).
- Tier 3
- Global: Regulated by the British Virgin Islands Financial Services Commission (BVIFSC).
Other Factors
(not available in the US). This does not extend to its globally regulated clients.
OANDA does not accept clients from China, India, North Korea, Iran or other countries listed in the table above.
Awards and Recognition
OANDA has received numerous awards over the years and is widely recognized as a reputable broker.
These awards include:
- 2023
- Best in Class for Research and Ease of Use by ForexBrokers.com.
- Best US Forex Broker by Compare Forex Brokers Awards.
- Best Low-Cost Broker by ADVFN International Financial Awards.
- Platform Features Award by Investments Trends.
- 2022
- Most Popular Broker as voted by TradingView clients. (Three consecutive years).
- 2021
- Highest Client Satisfaction for Mobile Platform/App in the Investment Trends US Leverage Trading Report.
- 2020
- Recognized in Corporate Vision Magazine's Corporate Excellence Awards.
- 2017
- Best Forex Trading Technology at the UK Forex Awards by Shares Magazine.
These are a selection of their industry awards and while they offer insight into OANDA’s reputation, they should be considered alongside regulatory compliance, financial stability, platform quality, customer service, and trading conditions.
OANDA Customer Service and Support
Customer Service and Support
6.0
Schedule/Time to reply
OANDA offers 24/5 customer support via multiple channels, including Live Chat, email, WhatsApp, Messenger, a dedicated account manager, and social media platforms like X and Facebook. Additionally, they provide an extensive FAQ section for further assistance.
Email inquiries are often resolved within 24 hours, and they also offer 24/7 support for its crypto clients.
We used the chat service on multiple occasions and found it to be highly responsive, with replies often arriving instantly. Although we were initially connected to their BOT service, we could quickly be transferred to a live representative when required. The responses were knowledgeable and provided comprehensive answers to our questions.
After setting up the account, we were contacted by a dedicated account manager who was able to assist us and thoroughly answered all our questions, including those about connecting the platforms.
However, our colleague in the US encountered difficulties funding his account due to the stringent KYC and AML rules applied there. Customer support responded slowly, often taking several days to explain why his deposits weren’t approved, which could be an issue for US traders facing a tedious sign-up process.
Languages available
OANDA supports multiple languages, including English, Spanish, Mandarin, Polish, French, German, and Italian. However, they note that multilingual services may not always be available but assure clients of timely responses regardless. Language availability can vary by region, and additional languages may be offered depending on the specific area.
Their website can be translated into 10 languages.
User reviews
User Experience
6.5
What do OANDA users think of its service? We checked the most relevant websites to see how traders rate the platform.
We usually use ForexPeaceArmy as a reliable source for real traders’ feedback. However, OANDA does not have enough reviews on its platform to provide a fair score. Instead, we looked at ratings from other sites, including TrustPilot (4.1 out of 5) and TradingView (4.5 out of 5), as a benchmark for this category.
Overall, the reviews are mostly positive, with OANDA’s customer service actively responding to feedback, which helps build trust and reliability.
OANDA final thoughts
OANDA is a well-established broker in the industry regulated by multiple top-tier authorities including the CFTC, FCA and ASIC. It offers a wide range of instruments and flexible account options, and the choice of popular trading platforms such as MetaTrader 4, MetaTrader 5 (not available in the US), and TradingView, alongside its own proprietary OANDA Trade platform, making it suitable for traders of all experience levels.
OANDA has a good level of education and a range of resources, including webinars, video tutorials, market analysis and strategy guides which offer valuable tools for both beginners and experienced traders. This focus on learning makes OANDA an excellent option for those who want to trade while improving their understanding of the markets.
OANDA is not the cheapest broker, with slightly higher commission charges than some of its competitors, but it offers fair spreads, reliable execution speeds of up to 1.3 milliseconds, and helpful tools like AutoChartist and VPS hosting for algorithmic trading. It’s beginner-friendly thanks to its no minimum deposit policy, and its flexible account options, including swap-free accounts, cater to different needs.
The broker focuses on reliability and transparent pricing, providing a clear and consistent fee structure that often outweighs the appeal of cheaper but less dependable alternatives. However, stricter leverage limits in places like the US, UK and EU might not suit traders looking for higher market exposure, and the lack of copy trading or PAMM/MAMM accounts could be a drawback for those interested in managed or social trading options.
Customer support is generally responsive and accessible through various channels, though the experience in the US was less satisfactory, particularly with unresolved issues related to depositing funds. Additionally, multilingual support could be more consistent, which may create challenges for non-English-speaking clients.
In conclusion, OANDA is a well-rounded broker offering strong regulation, a variety of trading tools, and a robust educational platform. While its fees and regional restrictions might not align with every trader’s preference, its commitment to transparency, platform versatility, and education makes it a reliable choice for 2025. For traders prioritizing security and a comprehensive learning experience, OANDA remains a good option.
About OANDA
OANDA was founded in 1996 and is a globally regulated broker under authorities like the CFTC, FCA, ASIC, and CIRO. It offers trading in Forex, Indices, Commodities, Precious Metals, Bonds, Stocks, ETFs, and Cryptocurrencies assets vary by region with competitive spreads starting at 1.4 on eur/usd, spreads differ per region.
FAQs
OANDA is regulated by several Tier 1 authorities, and additional Tier 2 and Tier 3 regulatory bodies.
- Commodity Futures Trading Commission (CFTC) as a Retail Foreign Exchange Dealer (RFED) and Futures Commission Merchant (FCM), United States.
- Financial Conduct Authority (FCA), UK.
- Australian Securities and Investments Commission (ASIC), Australia.
- Canadian Investment Regulatory Organization (CIRO), Canada.
- Monetary Authority of Singapore (MAS), Singapore.
- Malta Financial Services Authority (MFSA), EU.
- Financial Services Authority (FSA), Japan.
- Polish Financial Supervision Authority (KNF), Poland and Europe.
- British Virgin Islands Financial Services Commission (BVIFSC), Global.
OANDA has multiple entities with offices in various locations, however their OANDA Corporation's headquarters is located at 17 State Street, Suite 300, New York, NY 10004-150.
OANDA provides instruments across all major asset classes, including Forex, Commodities, Indices, Stock CFDs, ETFs, Bonds, and Cryptocurrencies. However, availability varies by jurisdiction and is subject to local regulations.
Opening a trading account with OANDA is a straightforward process that can be completed online. Here’s a step-by-step guide:
- Visit the OANDA website: Go to the official OANDA website and click on the "Start Trading" button at the top right of the home page.
- Account Registration:
- Begin by selecting your Country/Region. Provide your email address and create a secure password for your account.
- Fill in your personal details, including your full name, date of birth, phone number, nationality, and unique National Identity reference.
- Confirm your tax residency, and provide your address, employment details, trading experience, and responses to customer knowledge assessment questions.
- Upload supporting documents. Acceptable forms of identification include a passport or driver's license, while a recent utility bill or bank statement can provide proof of address.
- Ensure that the documents are clear and legible to facilitate a smooth verification process.
- Verify your email.
- Account approval: Wait for OANDA to review and approve your documents, which typically takes 24 to 48 hours.
- Fund your account: Once your account is approved, you will gain access to your dashboard. At this stage, you will need to provide your bank details, after which you can fund your account. Deposits can be made using various methods, such as debit/credit cards, bank wire transfers, and other region-specific options. OANDA does not impose a minimum deposit requirement, allowing you to begin trading with an amount that fits your budget.
- Select your account type: Select your preferred currency and choose the account or accounts you wish to open. Multiple accounts can be created if needed.
- Download trading platform: After funding your account, download the trading platform of your choice (MetaTrader 4 and 5, TradingView or use their web-based platform OANDA Trade).
- Start trading: With your account funded and the platform set up, you can begin trading various financial instruments available through your account.
By following these steps, you can easily set up your OANDA trading account and start your trading journey.
About the authors
OANDA Corporation is regulated by the CFTC/NFA. OANDA is a member Firm of the NFA (Member ID: 0325821). CFDs are not available to residents in the United States.
OANDA CORPORATION IS A MEMBER OF NFA AND IS SUBJECT TO NFA'S REGULATORY OVERSIGHT AND EXAMINATIONS. HOWEVER, YOU SHOULD BE AWARE THAT NFA DOES NOT HAVE REGULATORY OVERSIGHT AUTHORITY OVER UNDERLYING OR SPOT VIRTUAL CURRENCY PRODUCTS OR TRANSACTIONS OR VIRTUAL CURRENCY EXCHANGES, CUSTODIANS OR MARKETS
Trading in digital assets, including cryptocurrencies, is especially risky and is only for individuals with a high risk tolerance and the financial ability to sustain losses. OANDA Corporation is not party to any transactions in digital assets and does not custody digital assets on your behalf. All digital asset transactions occur on the Paxos Trust Company exchange. Any positions in digital assets are custodied solely with Paxos and held in an account in your name outside of OANDA Corporation. Digital assets held with Paxos are not protected by SIPC. Paxos is not an NFA member and is not subject to the NFA’s regulatory oversight and examinations.
Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances. You may lose more than you invest. Information on this website is general in nature. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. Trading through an online platform carries additional risks.