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Finding a reputable online broker is harder than it should be. We built BrokerNotes to provide traders with the information needed to make choosing a suitable broker easier and faster. Oanda is a forex and CFD trading broker. They give traders access to a wide variety of instruments in several markets like currencies, indices, commodities and bonds. For commodity traders, they offer a range of energies, metals and agriculturals. Alternatively, Oanda offers a demo account that you can use to practice and familiarise yourself with their platform.
Oanda puts all client funds in a segregated bank account and uses tier-1 banks for this. Oanda has been established since , and have a head office in United States, Canada.
Visit Oanda. Full disclosure: We may receive a commission if you sign up with a broker using one of our links. Like most brokers, Oanda takes a fee from the spread, which is the difference between the buy and sell price of an instrument. The colour bars show how competitive Oanda's spreads are in comparison to other popular brokers featured on BrokerNotes. Oanda offers over different instruments to trade, including over 71 currency pairs.
Oanda offers the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers. Oanda also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.
With Oanda, the minimum and maximum trade requirements vary depending on the trader and the instrument. As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website. To start the process of opening an account with Oanda you can visit their website here. Marcus founded BrokerNotes in after trying hard to find a broker for himself to trade and struggling to compare brokers like-for-like.
CFDs are leveraged products and can result in the loss of your capital. If so, then the commission plan makes sense with the tighter spread.
If you can add liquidity, then using the Spread plan would avoid the larger spread so why not switch to the Spread plan and save on commissions. If you are using Market orders, then the commission plan seems almost always superior.
Oanda is great but I disliked their spread for all pairs available in their watchlist. And, I'll get negative slippage most of the times. You do not add liquidity at least explicitly with Oanda. They are a MM broker. Commissions are 0. Use of this site constitutes acceptance of our User Agreement and Privacy Policy.
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