Oanda is an international Forex and CFD broker with multiple offices across the world. The Broker is regulated by CFTC, NFA and FCA. Oanda Canada is regulated by the investment industry Regulatory Organization of Canada (IIROC) and clients’ funds are secured by the Canada investor Protection.
|Broker Type||Market Maker|
|Office Locations||United States
|Trading Platforms||MetaTrader 4
Oanda Trading Conditions
Oandaforex broker offers competitive variable spreads for EURUSD- 1.0, USDJPY-1.3, GBPUSD 1.9, and AUDUSD 1.3 and so on. The spreads are moderate, but are higher when compared to spreads offered by Proforex. There is no minimum trade size. Minimum stop Level is 10% and there is no minimum deposit requirement. Clients can deposit what is comfortable enough to open a trade.
The broker gives 50:1 and 20:1 for traders in the United States. If you are looking for higher leverage, you should consider other brokers, especially offshore brokers. The broker allows the use of Expert Advisor, but does not allow scalping or hardcore hedging.
Oanda Trading account types
There is only one type of live account from this broker. With this account you can enjoy all the benefits of trading with this Forex broker. There is no minimum amount to open an account with this broker. There is also the Demo account on the broker’s platform where you can learn how to trade without risking your own money.
Oandaforex Payment methods
Check, paypal, wire transfer, Debit/Credit Cards.
Is Oanda a Scam broker?
We have not traded with this Forex broker, but you can do well to ask other traders on forex forums if possible. There are bad and good reviews on other websites about this broker, but their authenticity cannot be verified. We suggest you start with a small capital and conduct your due diligence.
Kindly drop your review of this broker using the comment section below.