Oanda Trading Platform – CFDs are complex instruments and the risk of losing money quickly due to leverage is high. 73.5% of CFD retail accounts lose money. You should consider whether you understand how CFDs work and whether you can afford to lose your money.
As a trusted global brand, OANDA is distinguished by its solid reputation and quality market research. Its tuning experience is strong and its support for third-party features strengthens its overall offering.
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The annual review of forex brokers (running for six years) is the most cited in the industry. With over 50,000 research words on the site, we spend hundreds of hours testing forex brokers every year. This is how we test.
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With an overall trust score of 92 out of 99, OANDA is considered low-risk. OANDA is unlisted, unbanked and licensed by Level Six (high confidence) and Level Zero (high confidence) regulators. medium confidence) and a level 3 controller (low confidence). OANDA is authorized by the following Tier 1 regulators: Australian Securities and Investments Commission (ASIC), Investment Industry Regulatory Authority of Canada (IIROC), Japan Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Financial Conduct Authority (FCA) and the Commodity Futures Trading Commission (CFTC). Learn more about the trust factor.
The selection of markets available on OANDA varies slightly depending on which of its organizations regulates your account. CFDs are not available in the US, but in Australia and the BVI, OANDA offers the ability to trade 124 symbols and 71 forex pairs, as well as Bitcoin, Ethereum and Litecoin as CFDs. The table below summarizes the different investment products available to OANDA clients.
Cryptocurrency: Trading cryptocurrencies is possible through CFDs on OANDA, but not through trading the underlying asset (e.g. buying Bitcoin). Note: Crypto CFDs are not available to retail traders from UK branches of a broker, nor to UK residents (other than professional clients).
Note: Crypto CFDs are not available to retail traders from UK branches of a broker, nor to UK residents (other than professional clients).
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OANDA’s trading costs are generally high compared to top brokers, with high effective spreads on both Standard and Prime prices. Although OANDA is not a discount broker, the main benefit of OANDA is the automated execution of the account offering.
Spreads: OANDA’s bid/ask spreads (fees clients pay to trade) are most comparable to FOREX.com and FxPro, while the minimum spread costs (or lowest display rate) are slightly higher than firms , which list sub-pip spreads. (less than 1.0 pip). For example, the average non-core price at OANDA in Q1 2019 was 1.2 pips for the EUR/USD pair.
Prime Pricing: OANDA’s Prime Pricing offers lower spreads but includes a $5 commission per currency worth $100,000 (or about $10 per standard lot per cycle). This option requires a minimum deposit of $10,000 and when you factor in the commission, the total cost is almost the same as the non-commission price. For example, let’s assume that the spread for EUR/USD is 1.4 pips under the standard price structure, while the spread for the strike price is only 0.4 pips. After calculating the commission equivalent of 1 pip (0.5 pip per side), the total base price is 1.4 pips – the same as the standard price.
Micro lots: In most cases, the smallest contract size for forex trading is a micro lot. However, OANDA reduces this minimum trade size by three levels – to 1 unit or 0.001 micro lot.
Oanda Review (updated 2022)
Transparency: As part of its quest for greater pricing transparency, OANDA continuously publishes a lagging average of its spreads over almost all timeframes. However, it is difficult to make accurate comparisons because no figure is published that reflects average prevalence over a specific period of time (e.g. a day or a month).
OANDA’s flagship fxTrade mobile app is easy to use and ranks among the best brokers in its category in 2022, offering quality market research and excellent charting capabilities.
Software Overview: In addition to its fxTrade mobile application, OANDA offers the popular MetaTrader 4 (MT4) mobile software developed by MetaQuotes Software Corporation.
Ease of Use: Opening a chart in fxTrade is as easy as clicking the chart icon below the watch list. Whether setting up a trade or adding a price alert, I found the overall layout to be simple and easy to use. In addition to the intuitive design, charting with the fxTrade app is balanced with features like research and headlines from Autochartist.
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One nice feature I noticed was the seamless transition from within the charts to the trading ticket window. Users can quickly enter their orders from the chart and then adjust stop-loss and limit order levels with simple drag-and-drop functionality.
Charting: fxTrade’s versatile charting app offers 33 technical indicators, 13 charting tools and dozens of time frames to choose from. Zooming in and out of charts in fxTrade is a smooth experience thanks to the app’s responsive design.
Syncing: I would like to see fxTrade add the ability to sync watchlists and it should be noted that mobile chart indicators do not sync with fxTrade desktop or web versions. Finally, adding instructional and market analysis videos would be a logical (and useful) next step in fxTrade app development.
OANDA’s fxTrade suite of trading platforms is a good choice for charts (powered by TradingView) and news, but suffers in other areas such as trading. B. the imperfect integration of research and trading tools on desktop and web platforms.
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Platform Overview: OANDA offers two types of platforms; The popular MetaTrader 4 (MT4) platform developed by MetaQuotes Software Corporation and available for web and desktop, and OANDA’s fxTrade web and desktop trading platform. MetaTrader 5 (MT5) is now available on OANDA, having recently expanded outside of Japan from the broker’s BVI facility.
Charting: OANDA’s fxTrade platform offers TradingView-based charts with over 80 indicators and various additional functions, such as: B. the ability to overlay multiple currency pairs on a single chart for comparison. I also appreciate that the web-based and desktop versions of fxTrade are identical, making switching between versions easy and painless.
However, many of the features built into the platform cause a new browser window to open even if you are on the desktop version. Other brokers integrate such features directly into the platform, allowing you to focus without the distraction of new windows on your screen.
Trading Tools: Additional platforms are available from third-party developers on OANDA’s marketplace. For example, the Seer trading platform supports the development of algorithmic trading systems, including back and forward testing of automated trading systems. OANDA also supports trading connectivity with multiple charting platforms such as TradingView, NinjaTrader, MultiCharts and MotiveWave. Finally, OANDA’s Algo Labs provide API access in a variety of supported languages, including Python and C#.
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Account Management: OANDA integrates several services into its online account management portal, making it easy to transfer money between accounts and access your bank statements.
OANDA gives Forex and CFD traders everything they need to successfully navigate the markets, with tons of daily articles as well as podcasts and research tools. A minor annoyance is that many research resources on the desktop and web platform open in a new browser instead of being integrated directly into the platform. OANDA also offers fewer video updates than category leaders like Saxo Bank and IG.
Research Overview: OANDA provides extensive research for forex traders. The MarketPulse website offers an excellent selection of articles organized by category, with multiple updates posted daily, and headlines direct from Dow Jones Newswire, among other providers, on OANDA’s MetaTrader4 (MT4) and fxTrade platforms. Autochartist integration with the broker’s web platform and mobile app provides trading signals and automated technical analysis. Finally, OANDA produces a series of Market Insights with daily analysis updates.
Market News and Analysis: OANDA’s MarketPulse website provides news, research and analysis content backed by an in-house research team. OANDA’s fxTrade mobile app streams Dow Jones news as well as the company’s blog.
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Premium Content: OANDA offers Dow Jones Select, and third-party technical analysis software is available at MotiveWave and MultiCharts.
OANDA balances a decent range of written training material with a series of webinars hosted by its staff. However, it lacks a large selection of instructional videos. Expanding the range of videos and further organizing their existing content will enhance OANDA’s educational offerings, currently unmatched by educational leaders such as IG and AvaTrade.
Learning Center: OANDA’s online course consists of 19 chapters and covers technical and fundamental analysis. Each chapter contains multiple lessons, but most of the accompanying videos are platform lessons only – not financial market education.
Room for Improvement: OANDA’s educational content for beginners is scattered throughout the site. The ability to filter educational resources by experience level will benefit traders of all skill levels. The best brokers in this category have a comprehensive range of videos and articles. To the,
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