OANDA Review

OANDA is an online financial company that provides an array of services in both forex trading and currency information for all of their clients. With over 20 years of experience, OANDA is a global leader in forex trading and currency data, providing their clients with leveraged trading and payment as well as data services from a wide range of investors and organisations. Based in Toronto, Canada, the company has subsidiaries expanding throughout Australia, Europe, Japan and Singapore where they have access to one of the largest historical, high frequency, filtered currency databases in the world.

Since the company’s establishment in 1995, OANDA has been bestowed numerous prestigious awards, some of which include:

  • 2015 Investment Trends Australia FX Report: No. 1 Value for Money
  • 2015 Investment Trends Australia FX Report: No 1 Educational Materials
  • 2015 Global Banking & Finance Review Awards: Best CFD Broker APAC
  • 2014 Investment Trends Australia FX Report: Highest Overall Client Satisfaction and Best Mobile Trading Platform
  • 2013 International Finance Magazine Brokerage Awards:
  • Best Trading Execution Providers
  • Best Retail Trading Platform
  • Best Mobile Trading Platform
  • 2012 Financial Times and Investors Chronicle Investment Awards: Best Forex Provider

Trading with OANDA

OANDA is a multi-award winning financial company which has been consistently recognised for their competitive spreads, speed of execution, feature-packed trading platform and various other applaudable features. Clients of OANDA are provided with an array of beneficial resources, some of which include:

  • The ability to trade over 90 currencies and metal pairs, as well as other CFD products including stock indices, bonds and commodities
  • No commission and very competitive spreads
  • Low margin CFDs
  • Access to trade popular commodities including corn, wheat, crude oil, natural gas and copper
  • Access to trade a variety of precious metals such as gold, silver and platinum as CFDs which can be used alongside and in conjunction with forex strategies

OANDA Trading Platforms

OANDAs core trading platform is the fxTrade platform. This was specifically designed to reduce forex and CFD trading costs whilst also significantly increasing the speed of execution of trades. In addition to this, OANDA also offer the world’s most popular online trading platform, the MetaTrader4. An overview of these two platforms has been provided below.

fxTrade Platform

The fxTrade platform provides users with highly competitive spreads with one of the fastest execution speeds available. This user-friendly, sophisticated platform includes an array of features including:

  • Ability to trade over 90 major currency pairs
  • 98% of trades are executed within 0.057 seconds or less
  • Trade from the web-based browser or mobile device
  • Ability to trade 24/5 – OANDA is open whenever the global financial markets are
  • Free access to the most up-to-date market analysis and financial news
  • Ability to open multiple sub-accounts so funds can be transferred between various currencies
  • Free access to some of the most powerful and intuitive charting resources
  • Free educational material including:
  • Video tutorials
  • Expert market analysis
  • Extensive variety of educational content for traders of all experience levels
  • Interactive and live educational sessions presented by professional traders
  • Tailored to suit all experience levels with beginner tutorials right through to advanced technique sessions
  • Learn how to reduce risk through the use of risk management tools, technical indictors etc.
  • Access to daily trading news through leading news feeds
  • Free Demo Account available

MetaTrader4 Platform

The MetaTrader4 is the world’s most popular online trading platform. OANDA not only provides this platform for their clients to trade on, but the company also include the added bonuses and features clients would also receive if they were to trade on their own core platform, the fxTrade. Features of the MetaTrader4 platform include:

  • Ability to trade with more than 100 CFDs, forex pairs and precious metals
  • Highly competitive spreads from as low as 1.2 pips
  • No re-quotes, roll over swaps or rejections
  • Free access to more than 50 built-in indicators from the MT4, fxTrader and Autochartist
  • Access to OANDAs MetaTrader4 Hedging Compatibility Account where users can view both long and short positions on the same currency pair
  • Free access to the MT4 mobile trading platform
  • Transparent pricing model with no commissions
  • Ability to enable automated trading strategies from professional traders or traders can develop their own
  • Access to advanced charting resources across nine timeframes using multiple displays

OANDA Summary

OANDA is an award-winning online trading company that continually strives to provide their clients with the highest quality trading platforms with the fastest execution speed. The company has also been recognised for their consistently low spreads on all of their tradable instruments and excellent customer service. Furthermore, OANDA also provides free access for their clients to browse, analyse and implement the available trading tools and resources which are some of the best in the business. Free educational materials are also offered which are tailored for traders of all experience levels. Based on the review of the company, OANDA is likely to appeal to forex traders who seek for providers that offer low spreads and extremely fast execution speed.