Oanda review shows the corporation is a foreign exchange company with over 23 years’ experience, they are one of the leaders in currency data, offering forex and CFD trading and are located in the United States, New York. Oanda started in 1996 and since 2001 have been providing clients with access to global financial markets allowing clients to speculate on price movements. Oanda continues to deliver a client-first approach when innovating and implementing new products and supporting technology. They currently have offices in six countries and are regulated by six major regulatory agencies around the world.
Oanda makes use of oanda trade web-based and desktop platforms as well as the leading industry standard the MetaTrader4. Oanda offers two account types, the standard and premium which offer a wide range of benefits for the client.
Oanda supports regulatory oversight of the industry and the protection of forex customers, and strive to meet or exceed the requirements of regulators.
OANDA Corporation is a registered Retail Foreign Exchange Dealer (RFED) with the U.S. Commodity Futures Trading Commission (CFTC), and a Forex Dealer Member (FDM) of the National Futures Association (NFA # 0325821).
OANDA (Canada) Corporation ULC is regulated in Canada by the Investment Industry Regulatory Organization of Canada (IIROC).
OANDA Europe Limited is authorised and regulated by the Financial Conduct Authority in the UK, No: 542574
OANDA Asia Pacific Pte. Ltd. is regulated and licensed in Singapore by the Monetary Authority of Singapore (CMS Licence No: CMS100122-4) and the International Enterprise Singapore (Commodity Brokers Licence No: OAP/CBL/2012) to trade commodity CFDs
OANDA Australia Pty Ltd. is regulated in Australia by the Australian Securities and Investment Commission (ASIC) ABN 26 152 088 349, AFSL No. 412981.
Spreads and margins
Oanda offers competitive spreads across the full range of CFD markets including indices, forex, commodities, metals and bonds, starting from just 0.9 points on the DE 30, 0.8 points on the UK 100 and 1 pip on USD/JPY and EUR/USD. Oanda takes a form of security (or deposit) against any losses that you may incur when you trade using leverage, this collateral is typically referred to as margin. Both margin rates and maximum leverage ratios vary depending upon the instrument traded, and whether you have been categorized as a retail or professional client.
Oanda fees are straightforward and very competitive in 2016 however oanda introduced an inactivity fee which should not be a problem for most traders as one must be inactive for at least two years.
Oanda Customer service
Oanda offers a fast and effective multilingual customer support available to clients 24/7, live chat, phone and email are available. Support is available for English, German, Spanish, Italian, French, Portuguese, Russian.