Home Forex Broker Reviews ONADA Forex Broker Review

ONADA Forex Broker Review


About the ONADA company:

OANDA is one of the pioneers of web based trading on the planet. The company was established in 1996 by PC building educator Michael Stumm and Dr. Richard Olsen, an authority in econometric examination.

Trading stages

OANDA offers two trading stages MetaTrader4 (MT4) and FXTrade WebTrader.

FXTrade has straightforward yet proficient interface and quick execution speed. As indicated by OANDA, the stage executes bargains in under a second. The stage has the capacity of diagrams plotting; dealers can test their trading methodologies, see monetary news and market investigation from driving news suppliers.

In addition, OANDA offers the MetaTrader 4 stage, which is well known as it permits brokers to completely computerize their

exchanges. Well informed merchants can manufacture their own mechanized trading frameworks with the assistance of OANDA FXTrade API.

Trading conditions

The line of trading resources incorporates money sets, records, products and securities, CFDs and valuable metals.

Fortunately OANDA doesn’t require the base store to open a record, surrendering the choice over to dealers. This is particularly alluring to the individuals who are not prepared to put away a great deal of cash. The company has one standard record class.

Commission and spreads

The agent offers skimming spreads. For the EUR/USD pair, the spread is 1.4 pips overall, which is the normal in the business. Spreads for files start from 0.5 pips.

Customers can utilize sans commission trading as OANDA doesn’t charge commission for its administrations and for support of records. The specialist’s income originate from spreads.

Instruction and investigation

Merchants can learn with the assistance of video preparing and online courses. They can screen state-of-the-art money related news and specialists’ examination of market patterns. What’s more, merchants can exploit the financial schedule and articles about Forex, which can be intriguing for the two newcomers and expert dealers.

Customer bolster administration

The customer bolster administration is accessible nonstop from Sunday (13:00 EST) until Friday (18:00 EST). For increasingly proficient correspondence, customers are offered to pick the item with which they experience issues so they are naturally associated with the correct master.

Merchants can pose their inquiries by telephone, email, fax, talk or by visiting the company’s office in the US, Canada, the UK, Tokyo, Australia, or Singapore.


OANDA is managed in six nations by neighborhood administrative bodies – NFA, CySEC, ASIC, CFTC, MiFID, and FCA.

Final Conclusion

The notoriety of the merchant among brokers is because of the choice of computerized trading, nonappearance of prerequisites for least store and trading volume.

Intermediaries’ points of interest:

assortment of trading stages;

no underlying store prerequisites;

no limitations on least part size;

no commission for account administration.

Intermediary’s drawbacks:

the intermediary is a market producer;

it has low influence.


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