Oanda Rating: A Review of the Broker

81

MarketPulse, with news and analysis reports, articles, and videos. It is amongst their selection of research materials tailored to both amateurs and high-volume traders.

Traders can access advanced tools like technical analysis, trading overlays, and MotiveWave professional charting analysis. Furthermore, they can take advantage of numerous deposit and withdrawal options.

User-friendly interface

Oanda offers an impressive selection of trading tools, including a free practice account. Their fxTrade platform is easy to learn, and their research offerings are robust. Furthermore, Oanda boasts an API offering and a simple account opening process.

OANDA provides over 70 forex pairs, more than its rivals combined, and CFDs on stocks, commodities, indices, and metals – with lower commission rates than many rivals compared with its mobile app, which makes trades on-the-go possible and includes helpful features such as trailing stops.

The mobile app is well-constructed for its intended use, though it lacks a fully-integrated order placement panel and only integrates Dow Jones News as news. A notification center would also be beneficial. Traders can make deposits using credit or debit cards, bank wire transfers, or PayPal – with customer support always available with fast responses.

Competitive spreads

Oanda offers an impressive range of foreign exchange currency pairs. It features advanced charting and analysis tools on its trading platform, tutorials, and a referral scheme. It is user-friendly, with straightforward access to historical average exchange rates and tools to monitor live spreads. Its website can be easily navigated, providing easy access to historical average exchange rates and tools that track live feeds.

Oanda offers an innovative pricing engine responsive to market fluctuations such as economic and political news events, eliminating requotes during periods of high price volatility. Their website also features educational materials and an exhaustive newsfeed; however, customer support teams may sometimes take longer than desired to respond.

Oanda offers traders access to over 70 forex pairs and CFDs on significant stocks, commodities, and indices through their upgraded MT4 platform or beginner-friendly web trader. Both boast impressive execution speeds with transparent fee structures that offer industry-standard spreads and commission fees; additionally, they also provide access to free expert insights and market reports.

Variety of trading tools

Oanda’s trading tools enable traders to make better-informed decisions and save time by analyzing data and recognizing patterns. Furthermore, these tools help traders manage risk by providing snapshots of pending orders, positions, and news feeds.

Oanda Trade Web platform gives traders access to assets such as Forex, CFDs, and cryptocurrencies. It features volume indicators, currency heat maps, and backtesting; additionally, an unlimited demo account gives traders the chance to practice with virtual money before moving forward with live trading.

Oanda offers a streamlined onboarding process and requires only minimal documents from new traders to become eligible for online trading. However, some potential drawbacks exist, including slow customer service and no additional protections, such as negative balance protection. Some online traders have also reported unreliable fills from Oanda; nonetheless, its website is user-friendly, with multiple educational resources in various languages available to traders.

Customer service

Oanda provides exceptional customer service, with staff readily available to assist you. Their website and mobile apps are user-friendly, offering accurate currency conversion. Furthermore, Oanda boasts an excellent industry reputation due to being heavily regulated by globally-recognized top regulators.

Traders can access customer support by phone, email, and live chat. While the customer support representatives at this company are well-trained and knowledgeable, their response times may sometimes be slow.

Oanda is an innovative US forex broker offering competitive pricing, cutting-edge technology, and reliable regulatory oversight. Furthermore, they provide educational resources and trading tools for their extensive trading community and offer multiple funding methods, such as credit/debit cards. Oanda operates across multiple Tier-1 jurisdictions with an impeccable record of transparency and client protection; their transparent business model has garnered many accolades from trading organizations and publications.