Last updated: October 11, 2025
Overall Rating
4.4
out of 5.0
Score Breakdown
Who Is This Broker For?
Best for: Forex-focused traders valuing transparency, education, and reliable execution.
Pros & Cons
Pros
- Highly transparent pricing with no hidden fees
- Excellent educational resources and market analysis
- No minimum deposit requirement
- Strong regulation in US, UK, Australia, Canada
- Award-winning platforms and mobile apps
- TradingView integration for advanced charting
Cons
- Limited asset classes (primarily forex)
- No cryptocurrency trading
- Spreads wider than ECN specialists
- US clients have restricted leverage and instruments
Fees & Costs
Spreads
From 1.2 pips on major pairs (EUR/USD); variable
Commission
$0 on all trades
Overnight/Swap
Competitive swap rates based on tom-next
Deposit Fee
$0 for all methods
Withdrawal Fee
$0 for most methods; some banks may charge
Trading Platforms
OANDA Web Platform
OANDA Mobile (iOS/Android)
MetaTrader 4
TradingView
API (FIX and REST)
Safety & Regulation
Regulated by:
FCA (UK)
ASIC (Australia)
CFTC/NFA (USA)
IIROC (Canada)
MAS (Singapore)
JFSA (Japan)
Available in: Global (50+ countries); available in USA, Canada, UK, Australia, Singapore, Japan
Availability
Countries: Global (50+ countries); available in USA, Canada, UK, Australia, Singapore, Japan
Languages: 15+ languages including en, es, de, fr, it, ja, zh, ko
Payment Methods
-
Bank Transfer
$0 from OANDA • 2-5 business days
-
Credit/Debit Card
$0 • Instant
-
PayPal
$0 • Instant
-
ACH Transfer
$0 • 1-3 business days
Frequently Asked Questions
Is OANDA good for beginners?
Yes, OANDA is excellent for beginners, especially those focused on forex trading. The platform is user-friendly with intuitive navigation, and there's no minimum deposit requirement so you can start with any amount. OANDA provides comprehensive free education through webinars, articles, and video tutorials covering forex basics to advanced strategies. The transparent pricing model means no hidden fees or surprises. US-based beginners particularly benefit from strict CFTC/NFA regulation offering maximum protection. The main limitation is the lack of stocks and crypto, so if you want diverse assets, consider multi-asset brokers.
What is the minimum deposit at OANDA?
OANDA has no minimum deposit requirement – you can open an account and start trading with any amount. This makes it accessible for beginners who want to start small. However, realistically you need at least $100-200 for effective trading with proper position sizing. OANDA offers micro and nano lot trading, allowing you to trade positions as small as 1 unit of currency, perfect for practicing with real money while learning.
Is OANDA regulated and safe?
Yes, OANDA is one of the most heavily regulated forex brokers globally. It holds licenses from tier-1 regulators including the US CFTC/NFA, UK FCA, Australian ASIC, Canadian IIROC, Singapore MAS, and Japan FSA. This multi-jurisdictional regulation provides strong client fund protection. US clients benefit from particularly strict oversight with segregated accounts and CFTC regulation. OANDA has operated since 1996 with a strong track record and no major regulatory issues. Your account will be held by the entity appropriate for your region with corresponding protections.
Does OANDA charge commissions?
No, OANDA does not charge trading commissions. Instead, they earn through spreads – the difference between buy and sell prices. OANDA's spreads are variable and start from around 1.2 pips on EUR/USD, which is competitive though not the tightest in the industry. The advantage is simplicity and transparency with no hidden commission fees. All costs are visible in the spread, making it easy to calculate your trading costs upfront.
What platforms does OANDA offer?
OANDA offers multiple trading platforms: their proprietary web platform with advanced charting and order types, mobile apps for iOS and Android with full trading functionality, MetaTrader 4 for algorithmic trading and Expert Advisors, TradingView integration for advanced technical analysis, and API access (FIX and REST) for developers. The web and mobile platforms are modern and user-friendly, while MT4 appeals to traders wanting automated strategies. All platforms provide real-time pricing and access to the same liquidity.
Can I trade stocks or crypto on OANDA?
No, OANDA primarily focuses on forex and CFDs on indices and commodities. They do not offer stock trading (real shares or CFDs) or cryptocurrency trading. If you want to trade stocks or crypto, you'll need to use a different broker that offers these assets. OANDA's specialization is in forex, where they provide excellent execution, transparency, and educational resources. For multi-asset trading, consider brokers like Interactive Brokers, eToro, or XTB.
Does OANDA offer a demo account?
Yes, OANDA provides a free demo account with virtual funds that replicates live trading conditions using real market prices. The demo account includes access to all platforms, instruments, and features available on live accounts. There's no time limit or expiry date, allowing you to practice as long as needed. You can reset the demo balance if you run low on virtual funds. The demo is highly recommended for beginners to practice platform navigation and test strategies before trading real money.
How long do OANDA withdrawals take?
OANDA processes withdrawal requests within 1-2 business days. The total time depends on your payment method: ACH transfers (US) take 2-5 business days, wire transfers take 3-7 business days, and PayPal withdrawals (where available) are processed in 1-3 business days. First-time withdrawals may take slightly longer due to verification checks. OANDA doesn't charge withdrawal fees, though your bank or payment provider may charge their own fees. Ensure your account is fully verified to avoid delays.
What customer support does OANDA provide?
OANDA provides customer support through multiple channels: live chat is available 24/5 during market hours for quick questions, email support responds within 24 hours, and phone support is available with regional numbers. The Help Center contains extensive FAQs, guides, and video tutorials. Support quality is generally highly rated with knowledgeable representatives. US clients get particularly strong support during US market hours. Support is available in multiple languages depending on your region.
Sources & Citations
- https://www.oanda.com/
- https://www.cftc.gov/
- https://www.fca.org.uk/