If you are looking for a step up in trading, then the Oanda premium account offers that step. This account is aimed at, and ideal for, experienced traders and corporations in particular. Here you will have the same great range of market choices all available though the minimum deposit here stands at $20,000. BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs.

$5 Minimum Deposit

In terms of advanced charting features, OANDATrade has 80 technical tools, including 32 overlay indicators and 50 drawing tools. As noted, OANDA Corporation acts as a market maker, meaning the broker provides clients with immediate liquidity and then hedges its overall exposure via liquidity providers. There are no minimum deposit requirements to open an OANDA account, along with no funding fees, a major benefit of the US broker.

Where is OANDA based?

Jeff Anberg is a Staff Editor at BrokerNotes.co and ForexBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency.

• Our full comparison covers the most important trading factors, but key differences between OANDA and FOREX.com stand out.
• On its own Trade platform, it provides an extensive charting suite.
• For a start, OANDA Trade competes with the top proprietary platforms in the market with a user-friendly interface, quality market research and excellent charting features for advanced technical analysis.
• All information contained herein is based on ForexBrokers.com’s independent review of this broker’s various global brand entities.

How to Open an Account with OANDA

These platforms are widely recognized for their user-friendly interfaces, advanced charting tools, and automated trading capabilities, providing traders with a comprehensive trading experience. For a deeper exploration into OANDA, my extensive review covers a multitude of aspects critical to understanding this trading platform’s offerings. It provides  in-depth assessments of the trading platforms provided by OANDA, scrutinizing their functionality, user interface, and analytical capabilities. Additionally, it examines the diversity of trading instruments available to traders, ensuring a broad spectrum of opportunities for market engagement.

What is the Oanda minimum deposit?

I always recommend that traders check them before evaluating the total trading costs. The brokers Affiliate Program allows individuals and businesses to earn commissions by referring new clients. Affiliates receive a unique tracking link, and they earn commissions based on the trading activity of the clients https://forexarena.net/ they refer. Customers of OANDA’s broker affiliate program may earn additional money by bringing in new traders to the platform. Traders might earn between 5% and 15% of the spread of the consumers indicated by this referral scheme. The Next Generation trading platform includes a pattern detection feature.

It would be beneficial to have a base currency which matches that of your deposit and withdrawal so that you can avoid any currency conversion fee. You should note that as per regulation, the Oanda spread betting account is available only to UK and Ireland traders. A demo account is the very best place you can start when trying to build knowledge or experience of a broker or the industry. In this regard you want to be with a broker who makes provisions to ensure this protection. This factor makes Oanda an excellent choice for spread betting as long as you live in the UK or Ireland. There are more than 100 instruments in total for you to select from if trading with Oanda on CFDs.

One thing we found impressive is the option to participate in live market analysis with one of OANDA’s analysts. This over-the-shoulder experience provides an opportunity to learn about current investment trends and gain insight into what to look for in real-time. It’s a valuable tool for improving knowledge of the markets and identifying opportunities. Overall, OANDA has used their industry experience to provide the fastest support options available to its clients based on the severity of the support needed. To learn more about the differences between these trading platforms, read our full MetaTrader 4 vs MetaTrader 5 comparison.

This only applies to real money Oanda accounts and is not charged if you are holding a demo account. Oanda commission is generally not charged, with the only exception being on Australian Core accounts. On these account types, a commission of 3.50 AUD per lot traded is charged though this is still excellent value.

Each alert comes with its own analysis and price levels you can look for before trading. As part of this OANDA Review, I wanted to go through the OANDA Trade platform so we could understand what it has to offer. Upon loading the OANDA Trade platform, you can see the interface is designed to be as clean as possible to avoid distractions. This is a good design because some platforms are cluttered with notifications and news that can be distracting while trading. Like the debit card funding method, bank transfer has no minimum or maximum deposit limit. However, it is slower than depositing via a debit card, which takes up to 5 business days.

Overall, OANDA’s comprehensive range of services demonstrates their commitment to meeting the varied needs of traders. This balanced approach reinforces my view of OANDA as a significant player in the global trading scene, fully capable of exceeding the diverse expectations of its clients. In my opinion, OANDA stands out as a reliable and strong broker in the forex and CFD trading industry.

There is no minimum deposit for the Standard account in Oanda, but the Premium requirements can be as high as $20,000, dependent on the jurisdiction. At the time of writing this review, oanda forex broker review Oanda does not offer any bonuses or promotions. Regulation fulfills a central role, but it should not harm the competitive advantage under misguided ideas of trader protection.

Swap fees (the cost of holding a position overnight) were average at OANDA. Assuming all goes well, you’ll receive an email inviting you to verify your identity. If not, you’ll end up with an email like this one, inviting you to open a demo account and try again later.

This is because local Alberta Securities Commission rules have rules that don’t make it worthwhile for most Forex brokers (including OANDA Canada) to accept clients from this region. However, some traders prefer different chart types and sometimes have to pay extra for the privilege. TradingView comes with many features to improve the quality of life for a trader.

Most online brokers don’t offer a guaranteed stop-loss order, but OANDA Corporation does. We like that OANDA Trade manages to find a balance between ‘accessible’ and ‘custom’. New traders won’t struggle to perform basic tasks, while more experienced traders will enjoy creating a custom interface. When I poked around inside a demo account, I found I could tweak just about any aspect of the OANDA Trade interface to match my preferences.

During this period, the company has managed to build a solid brand and amass a user base of tens of thousands of people, even winning the Most Popular Broker award at the 2022 TradingView Broker Awards. It requires a significant learning curve and is much more appropriate for seasoned traders as a result. OANDA’s forex funding fees, charged on positions held overnight, are described as “a blend of underlying liquidity providers’ tom-next swap rates, adjusted by our x% admin fee (annualized).” OANDA (Canada) Corporation ULC is regulated by the Canadian Investment Regulatory Organization (CIRO) and customer accounts are protected by the Canadian Investor Protection Fund within specified limits. A brochure describing the nature and limits of the coverage is available upon request or at There is no minimum balance or deposit amount needed to activate a live account at OANDA.