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OANDA Broker Review 2018

The British company was founded in 1995 as an information platform and has been a Forex broker for several years. The company now has six subsidiaries and has been offering fully automated foreign exchange trading with the Oanda fxTrade system since 2011. In the following broker review 2018, interested parties learn everything they need to know about the FCA-regulated broker and gain an insight into the range of trades on offer.

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The UK company is regulated by the competent regulatory authority FCA, which gives Oanda first confidence in traders as it is one of the strictest in the world. The broker offers its customers over 90 forex pairs, variable spreads, reliable support and fully automatic trading. Unlike many other brokers in the test environment, Oanda's educational offerings are primarily aimed at experienced traders.

The UK company's subsidiaries are located on different continents, which is why various regulatory authorities are responsible for regulation. The head office is located in London, which is why the Financial Conduct Authority (FCA) regulates the broker in Europe. This creates fundamental trust among customers, as this supervisory authority is one of the strictest in the world. By joining the Financial Services Compensation Scheme (FSCS), each client's funds are also protected up to L50,000 and held separately from the company's assets.

Our Oanda broker review 2018 has shown that customers have the ability to make deposits not only by credit card or bank transfer, but also by Paypal or check. There are no fees for payment by cheque, regardless of the amount. Withdrawals are processed on the same working day and bank transfers take about 1 to 3 business days to appear on the customer's account. On the other hand, credit cards and Paypal are even quicker because the transfer can be done here on the same day. Unfortunately, the disadvantage is that cheques are accepted from accounts held in US dollars - and Oanda only accepts checks issued by a US bank. Paypal deposits are subject to a limit of USD 100, unless the verified account is a US-American one. While processing takes only a working day to process this payment method, charges for payments outside the United States amount to $0.015 plus 2.8% of the amount deposited. The Oanda broker review 2018 also found that a monthly limit of 100,000 currency units or JPY 1,000,000 applies to credit card deposits. The transfer via the bank account is not a maximum limit and takes about one to two days.

In our broker review 2018, withdrawals are to be made in the same way as deposits.

In our broker review 2018, customer data is sent to the company via SSL encryption. Although the Broker provides his clients with all information on relevant guidelines, data protection regulations and general terms and conditions, these are only available in English and are only incorrectly or not completely translated into German.

However, customers are provided with security through the responsible supervisory authority FCA and the connection to the FSCS. The traders' money is protected in case the company becomes insolvent.

While many formerly pure forex brokers in the test environment have expanded their offerings to include binary options trading, Oanda still operates exclusively as a trader in the forex area. The company's clients have 90 currency pairs available for trading, and since the broker faces the traders as a market maker, spreads are relatively low, about 1.2 pips for the EUR/USD trading pair. Through its cooperation with major banks such as Deutsche Bank, JPMorgan Chase, UBS or the Royal Bank of Canada, the broker has sufficient liquidity and can properly secure trading. Oanda does not charge commissions for trading.

According to our Oanda broker review 2018, the broker makes the narrow, variable spreads available to his clients in a clearly structured table, which is updated weekly. This gives interested parties the opportunity to gain an impression of the conditions.

For trading in forex spots, Oanda Stop and Trailing offers stops, market and limit. In order to start forex trading, it is not necessary to deposit the entire amount - trading can start as soon as 2% margin of the trading sum is deposited. Customers with a low leverage of 50:1 have the chance to win big profits with a small deposit. Even if trading by telephone is generally not offered, there is the possibility to place an order by telephone in case of emergency.

Many brokers offer their customers a bonus on the initial deposit, but according to our Oanda broker review 2018, the British company does not place too much value on such offers and therefore only occasionally offers promotions and trading competitions. However, this is by no means a disadvantage, as brokers have to finance bonus programs - this usually has an effect on the terms and conditions, which is often particularly noticeable for customers in terms of deposits and withdrawals.

As the Oanda broker review 2018 showed, the company offers its customers not only the widely used and extremely popular MetaTrader 4, but also its own multi-award winning fxTrade platform. With this professional software, real-time forex trading is not only manual but also fully automatic.

For many traders, it is important that they no longer have to rely on the computer in their own four walls, but also have access to their trading account while on the move. As a contemporary broker, Oanda had an app conceived some time ago to meet customer requirements. FxTrade-Mobile comprises more than 40 indicators, including trend lines, Ichimoku Kinko Hyo and moving averages. Customers also have access to analysis tools, exclusive financial news, real-time quotes and a customizable customer area.

The British broker knows how important reliable support is when traders have questions or problems. This means that customers can find out more about the FAQ section on the Oanda website and can also contact the support staff via e-mail, live support, fax or telephone. The support number is available to customers from Sunday 1 p. m. to Friday 6 p. m., but leads to a British connection.

While most brokers have an educational offering for trading beginners, Oanda's additional offers are aimed primarily at trading-experienced clients and offer them the greatest possible support for forex trading. For beginners, however, the company has at least one Academy where interested people can access some learning opportunities.

The Oanda Forex Laboratory is particularly positive. Interested parties can access their open positions, a heat map, a market tracker, a candlestick sample screener and overviews of the 100 most successful traders in 2018.

In addition, traders can not only train themselves independently, but also participate in webinars and dealer training courses. This does not necessarily require foreign language skills, because besides Mandarin or English, these webinars are also offered in German.

The Oanda broker review 2018 showed that the company offers its customers a demo account. This can be used to try out your own strategies, but it expires after 14 days.

In 2013, Oanda received several awards for its trading platform, including the Investment Trends, 2013 UK Leveraged Trading Report and Investment Trends, 2013 US FX Report. In 2012, the Financial Times also named the company "Best Forex Provider".

The British online broker Oanda is foregoing a bonus on the first deposit, and the educational offering also suggests that the company is primarily targeting experienced traders. With Oanda, clients have a reliable broker at their side and can rely on Oanda to ensure that their funds are kept in safe custody thanks to regulation by the UK's FCA and are not lost in the event of the company's insolvency. The experienced forex broker offers many conventional forex pairs as well as unusual pairs and can offer his clients a lot in this area.

Although Oanda provides its customers with all the information they need, as the online broker attaches great importance to transparency, the information is unfortunately only available in English.

There is no minimum deposit required to open an account with Oanda. Another advantage is that the low lever of 50:1 makes it possible to achieve high profits even with a small bet.

Binary options are inherently risky products if you consider them to be "all or nothing" derivatives. When clients trade on a system, binary options are no more risky than other stocks traded on the stock exchange.

Oanda offers its customers several ways to contact support. For example, a telephone hotline and live chat are available five days a week, and customers can also contact employees by fax with their requests.