Oanda
| Title | Title |
|---|---|
| Year founded | 1995 |
| Location | USA |
| Regulation | RFED(USA) and CFTC(USA.) |
| US Available | Yes |
| Trading instruments | Currencies, Commodities, Indices, Bonds and Metals |
| Trading platforms | MetaTrader 4®, MetaTrader 5®,and Oanda trading platform |
| Minimum deposit | $ 0 |
| Deposit methods | Wire Transfer, Credit Cards, and PayPal |
| Base currencies | 9 |
| Inactivity fee | Yes |
| Withdrawal fee amount | $ 0 for first withdrawal, $ 20 afterward |
| Max. Leverage | Up to 1:50 |
| Min. Spread | 1.2 pips |
| Currency pairs | 70+ |
| Demo account | Yes |
| Social / Copy trading | Yes |
| Automated trading | Yes |
Oanda has its headquarters in New York, USA, and comes under the regulations of the Retail Foreign Exchange Dealer (RFED) along with the US Commodity Futures Trading Commission (CFTC), and is a Forex Dealer Member (FDM) of the National Futures Association. You can trade on forex pairs, commodities, indices, bonds, and metals with a minimum spread on EUR/USD of 1.2 pips. There is also an option to trade with no difference between the bid and ask by paying a small commission. Starting with the brokerage is simple as it will take only a few minutes to open an account. However, the company may require some days to approve it. You can fund your account using PayPal, bank wire/electronic bank transfer, and credit/debit cards. Withdrawals are only available to the same route from which the deposit was made and cost a different amount of money according to the number of cash outs. Oanda offers their award-winning web platform alongside MetaTrader®. An in-depth education section has a market pulse area with information on forex news, technical analyses, and an economic calendar to help traders of all levels. You can contact their quick and responsive customer support via live chat, phone, and email available 24/5.
Pros
- The market pulse section is fully detailed
- Fast and responsive customer support
- Accepts US clients
- No inactivity fee for 12 months
- No minimum deposit requirement
- A well-versed trading platforms
Cons
- Negative balance protection is not available for everyone
- Poor website interface
- High fees
End of the Line
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