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Regulated forex broker in multiple Tier 1 jurisdictions
70+ forex pairs available to trade
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Oanda review 2024

Investing options: 3.7

Platforms & usability: 3.8

Products, markets, & assets: 3.4

Safety & reliability: 4.2

Deposits & withdrawals: 3.1

Research & analysis tools: 3.0

Fees & costs: 3.7

Education & learning resources: 2.7

Oanda review Summary

Updated: Jun 29, 2023
8 min read
Oanda is a global forex and CFD broker that cates to both individuals and businesses. This Oanda review explores the service and whether you should sign up.

Oanda ranks as one of the Commodity Futures Trading Commission’s (CFTC) top retail forex organisations and is one of the top FX brokers in the US in terms of total assets under management and customer funds held. It is widely recognised as one of the most reputable forex brokers in the world. We have tested the Oanda platform to rate and review its key features. 

What can I do with Oanda?

Oanda is primarily a forex broker, so you can trade a wide variety of major, minor, and exotic forex pairs. 

In addition, Oanda offers CFD trading on stock indices, commodities, and bonds, as well as a handful of top cryptocurrencies 

Pros & Cons


Regulated forex broker in multiple Tier 1 jurisdictions
70+ forex pairs available to trade
Offers individual and corporate services


Oanda markets, assets, and options

What assets and products can you trade on Oanda?

The largest offering is forex, where there are 70+ currency pairs available. There is a limited number of other markets, most notably indices and commodities.

Here is a quick run down of what’s on offer.

CFDs- Indices- Commodities- Metals- Bonds37191026
See all products >

What leverage trading options are there?

Oanda offers a fairly standard amount of leverage in comparison to other reputable brokers. Leverage is capped at 1:30 in the UK and EU by financial legislation.

The leverage varies by product, so here’s what’s available depending on what you want to trade:

Product (CFDs)Max. leverageMargin
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What are the spreads?

Oanda makes money from trading spreads as opposed to commissions. These are variable and start out at 0.2 pips on certain major forex pairs and go up from there.

ProductAverage spreadFixed or variable?
Forex0.2 pipsVariable
Cryptocurrency6 pipsVariable
CFD0.8 pipsVariable
See all spreads >

Fees, limits, and payment options on Oanda

What are the deposit and withdrawal fees, limits, and speeds?

Oanda gives you several options to both fund and withdraw from your account.

The options on offer are standard and do not exceed those offered by other similar brokers.

Payment methodDepositWithdraw
Bank Deposit
– min/max
– fees
– speed
$30 / $20,000
1-3 business days
$30 / $20,000
1-3 business days
ACH Deposit
– min/max
– fees
– speed
$30 / $50,000
1-3 business days
Credit card
– min/max
– fees
– speed
None/$20,000 (per month)
None / Not specified
Free / $15 after first withdrawal
2 business days
– min/max
– fees
– speed
Yes (depending on country of residence)
None / $20,000
3-5 business days
None / $20,000
3-5 business days
See all payment methods >

How much are Oanda’s fees and commissions?

Oanda makes the majority of its revenue from spreads on trading activity, but it also offers core pricing accounts where you only pay a fixed commission per trade.

It also charges various withdrawal fees. Beyond this, Oanda has a $10 inactivity fee if there are no open trades in your account for a period of at least 12 months. 

There are also holding charges that apply to leveraged positions left open.

Fee typeFee amountCommission
CryptocurrencyNoneNot specified
See all fees >

Oanda trade sizes and limits

Oanda measures open positions not in lots, but in real currency. This means it has very low minimum trade sizes on its non-forex offerings. For example, a position can theoretically be opened with $0.01

ProductMinimum tradeMaximum trade
Forex1 unit of currencyNone
Cryptocurrency1 micro lotNone
See all trade sizes >
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Oanda trading platform

What devices can I use Oanda on?

Oanda’s exchange is easily accessible via the web whether you are using a desktop computer, laptop, tablet, or mobile device.

It also offers a desktop platform for professional traders.

  • Desktop
  • Web browser
  • Android or Apple mobile device

Can I use Oanda in my country?

Oanda lists 106 countries that it currently does business in on its website. Among these are the US, UK, Spain, and Japan.

Is Oanda available in my language?

Oanda’s help portal is available in a few languages, including German, Spanish, French, and Italian.

How easy is it to use Oanda?

Oanda is easy to navigate, which is saying something considering the number of services and features it offers.

Products, platforms, tools, and everything else is neatly organised in dropdown menu tabs and there is even a free demo account that anyone can take for a test drive.

Key features

There is plenty to see and do on Oanda and it starts with some of the features mentioned below:


This is the place for curated daily market information from Oanda’s team of analysts.

It includes an economic calendar listing all notable upcoming events that could impact markets, the biggest stories on any given day in blog format, and more.

Guaranteed stop-loss orders

Protect your positions from market gapping and slippage with a guaranteed stop-loss order (GSLO).

This is different from a stop-loss order which may be filled at a worse price level than the one you requested. It comes with a fee, but what’s the price of peace of mind?

FX data services

Take advantage of Oanda’s accurate and reliable exchange rate data for a fixed, low price. This service boasts institutional clients ranging from eBay to Nato.

Become a Trader

Security and regulation

Is Oanda safe?

In a word, yes. Oanda employs the latest industry best practices and AI-powered security technologies.

Add round-the-clock monitoring by a security operations center and an internal security team to this equation and it makes for a complete security suite.

Am I and my funds protected?

Your funds are protected because Oanda is regulated in jurisdictions across the world. For example, by being regulated by the FCA in the UK, it entitles you to up to £85,000 protection through the FSCS (Financial Services Compensation Scheme) in the event that the broker goes insolvent. 

Is Oanda regulated?

The exchange is regulated in several jurisdictions, including the following:

  • Registered as a Retail Foreign Exchange Dealer (RFED) with the U.S. Commodity Futures Trading Commission (CFTC).
  • Regulated in Canada by the Investment Industry Regulatory Organization of Canada (IIROC).
  • Authorised and regulated by the Financial Conduct Authority in the UK, No: 542574.
  • Both regulated and licensed in Singapore by the Monetary Authority of Singapore (CMS Licence No: CMS100122-4).
  • Regulated in Australia by the Australian Securities and Investment Commission (ASIC) ABN 26 152 088 349, AFSL No. 412981.

Do I have to verify my account with Oanda?

Yes, Oanda requires extensive documentation to prove both your identity and place of residence prior to opening your account.

Extra information

Educational resources 

Oanda’s “learn” section is quite extensive. It encompasses getting started with your account, an in-depth explanation of tools and strategies, a capital management crash course, and even occasional webinars and events.

Tools and charting

TradingView’s world-class advanced charting solution is the centerpiece of Oanda’s offering in this respect.

This offers trade-through charts and more than 65 technical indicators, which frankly is overkill but it’s there if you want it. There is also a customisable economic overlay option, which feeds market updates directly to your trading platform.

Customer support

Oanda has a comprehensive help portal with plenty of FAQ’s as well as a 24/7 chat assistant if those are not enough.

There is also phone and email support, but given the chat team’s round-the-clock coverage, you likely won’t need it.

Our verdict

It’s fair to say that Oanda is a world-class forex and CFD exchange. From its easy-to-use trading platforms to a generous educational section, and transparent information, Oanda stands out from the competition in this space.

The exchange’s fees may not be the lowest and the tradable assets on offer may not be the most voluminous, but it makes up for this with outstanding trading tools and customer service.

If you’re looking for a secure FX platform on which to trade or exchange, Oanda deserves some consideration.

Visit Oanda & Create Account

How to open an account on Oanda

  1. Click on the “Start Trading” button on the website homepage
  2. Confirm your country of residence
  3. Enter your account and personal details
  4. Provide the documentation required to activate your account (differs by country)
Trade Now


Who owns Oanda?
How does Oanda make money?
Do I have to pay tax on Oanda profits?
Does Oanda offer CFD trading?
How do I sell on Oanda?
How do I delete my Oanda account?
How can I short on Oanda?
What if I forget my account password?
Can I transfer from my Oanda account into my PayPal account?
Does Oanda offer bonuses?

Sources & references
Risk disclaimer
James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.

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