OANDA FX Broker Review 2025 Pros, Cons, & Features Explained

OANDA FX Broker Review 2025 Pros, Cons, & Features Explained

The website has a dedicated research section called “Market Pulse” (which also acts as a standalone site) and an education tab called “Learn” which is a plentiful source of material to learn how to trade. However, using bank transfers and money wire will incur a fee on the first withdrawal (in the UK is £10, US is $20 and EU is €20). Subsequent withdrawals will incur this fee plus the same charge as for debit cards.

In addition to OANDA Trade and MT4, OANDA offers a number of third-party platforms like TradingView. OANDA Corporation also earned high marks from us for controlling indirect trading costs – fees a broker charges for administering your account or performing certain services. OANDA Corporation doesn’t require a minimum deposit but does charge an inactivity fee of USD 10 per month if your account lies dormant for more than one year.

• OANDA’s analysis tools allow traders to test their strategies using common coding languages and analyze the effect of economic news directly on charts.
• Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry.
• Like other licensed brokers, OANDA expects you to share some information about your personal finances.
• Our editors independently research and recommend the best products and services.
• We used this to set up automatic price alerts that fed into our automated trading, as well as an automatic chart pattern recognition indicator tailored to our test strategy.

Oanda FX customer

On the Oanda forex broker profile page at our website you can read oanda reviews by other traders as well as write your personal oanda review of your personal experience with the broker. The gold stars signify reviews ratings according to their usefulness as considered by other visitors of the site. You don’t need a minimum balance or deposit to activate a live account at OANDA. Plus, there are no deposit or withdrawal fees, which is better than many other options.

You can pay either solely spreads or core pricing with commissions. Our OANDA review also cautions clients that the broker charges financing costs or financing credits on positions that are held overnight. This is expected from a forex broker, and we appreciate that OANDA Corporation is clear with the pricing. However, clients should keep in mind that an admin fee also applies to the financing.

Alternately, traders who have accounts that solely allow spread trading may benefit from the smaller spreads. The suitable spread, in addition to any other fees spent by traders, becomes the basis for the calculation of trading expenses. The broker gives traders two different pricing options to choose from spread-only pricing and commission pricing. Because the commission is already included in the spread, spread-only pricing will not result in any extra financial obligations on your part. 🥇 OANDA is a prominent global broker, and it has a significant presence not just in the United States but also in other industrialized countries. On the other hand, the broker is utilized by a considerable number of traders in Africa, which places it in the Top 20 forex brokers for traders in Namibia.

Account Types

OANDA may not offer hundreds of instruments, but they offer all the top assets across the world. OANDA instruments include metal, forex, bitcoin CFDs, indices, and commodities. However, OANDA reviews suggest that individual stocks are not offered in OANDA while other forex brokers allow trading individual stocks as well as cryptos.

Platforms

A lot is considered 100,000 units, so with OANDA Trade, you enter your trade size in units, the minimum of which is 1 unit, equivalent to 1 EUR/USD. With MT4, the minimum trade size is 0.01 lots (equal to 1000 units on OANDATrade), and it increases from there. Based on our analysis, OANDA Corporation remains largely consistent with its publicly posted historical Standard Account Spreads. Our testing shows that the Spread Only account averages 1.54 pips, which works out to USD 14.36 per trade.

If your base currency is different to the currency that a traded instrument is priced in then you will be charged a currency conversion fee. These minimum spreads sit broadly alongside those of OANDA’s competitors. However, spreads are not always this tight throughout the whole session and can be considerably wider at times.

The online chatbot is run in four different languages (English, Spanish, German and https://traderoom.info/oanda-overview/ Japanese) for instant contact. However, it is also worth noting that OANDA’s Premium Account comes with a dedicated account manager that will act as human support. According to the FAQs page, withdrawals are usually processed within one business day, and the funds appearing on your account will depend upon which method has been chosen. You will generally get at least one free withdrawal per month on most methods (debit card, PayPal). After that, subsequent withdrawals will incur fees depending on the region, for example £10 in the UK, $15 in the US and €20 in the EU.

You can fund your account with credit/debit cards or wire transfers. However, there are fewer popular e-wallet options like PayPal, which depend on where you live. There is a $10 monthly inactivity fee that starts after 12 months of no trading. This is better than some other brokers who charge after only 3 months. When we tested, we found spreads starting from 0.8 pips on EUR/USD and 1.1 pips on USD/JPY.

Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables. Just because a broker offers a trading experience that caters well to beginner forex traders does not mean that it is easier to make money trading forex on their platform. Forex trading is risky; learn more about why the majority of forex traders lose money by checking out our Forex 101 educational series.