Oanda Reviews and Comments

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OANDA stands out as a distinguished broker, largely due to its affiliation with a renowned regulatory body. When I'm selecting a broker, this regulatory backing is my primary consideration. I meticulously went through their entire user agreement and was pleased to discover that it was transparent, devoid of any hidden clauses or unexpected terms. When we speak of their offerings, they present an impressive assortment of trading instruments complemented by competitive spreads. However, it's worth noting that there are areas where OANDA might improve. The absence of bonus programs is noticeable, and the leverage being capped at 1:50 might not be suitable for every trader's strategy. Additionally, the limitations on fund withdrawal methods – restricted to just card or bank transfers – could pose an inconvenience for some. But, taking everything into account, OANDA emerges as a solid choice, especially for those who predominantly communicate in English.
Felix 6 Oct 2023 Reply

I partnered with OANDA for a span of six months, and my overall sentiment is: "it's decent, but there are stronger contenders out there." The most compelling facet of OANDA lies in its robust safety record. With multiple regulatory bodies overseeing its operations and a solid 25 years of industry experience, there's a certain confidence one can place in their reliability. However, other aspects leave room for improvement. The 1:50 leverage they offer can be quite limiting, particularly when you're working with a modest deposit – it curtails the extent of trading one can embark upon. The withdrawal mechanism, while seemingly straightforward since it's restricted to bank cards, can add up in terms of fees. When you tally up the cumulative commissions, it becomes a notable chunk out of one's earnings. Furthermore, their online platform was, for me, among the least user-friendly I've navigated – its functionality could be vastly improved. To sum it up, while OANDA is competent, the trading ecosystem offers more dynamic and user-centric broker options.
Yana 30 Sep 2023 Reply

Embarking on my trading journey, OANDA was the first broker I engaged with, and regrettably, my experiences were anything but smooth, leaving me simmering with frustration. It's conceivable that the platform may cater aptly to the needs of seasoned traders, but as a novice in the field, I found it disappointingly inaccessible and notably lacking in customer-centricity. One prominent critique stems from the apparent disregard for customers, particularly those who are fresh to the trading world. The absence of bonus programs felt conspicuously neglectful, depriving newcomers like me of potential initial boosts to our trading ventures. Furthermore, the unavailability of cryptocurrencies as a tradable asset left me feeling restricted in a market that prides itself on offering a myriad of trading opportunities. Moreover, the leverage provided by OANDA, pegged at a meager 1:50, raised another substantial barrier, particularly when pondering the financial depth required on a deposit to generate any substantial profits. The capital required to yield handsome gains with such leverage casts a shadow over the accessibility of profitable trading for individuals operating with limited funds. The lack of cent accounts only exacerbates the aforementioned financial barrier, further alienating small-scale and beginner traders. I found myself enveloped in a quandary, trying to comprehend the broad acclaim often directed towards this broker. From my vantage point, it amounted to what I'd characterize as a “nothing burger” – offering little in the way of sustenance or satisfaction for a trader at the commencement of their journey. This leaves me pondering the dichotomy between my experience and the positive narratives, prompting reflections on the variables that might constitute a fulfilling experience for others.
Guram 23 Aug 2023 Reply

For all the time of cooperation, no serious claims. If I'm not mistaken, then they are almost the only ones who allow you to calmly replenish your account from a debit card. Withdrawals can also be made to the card, but I prefer an electronic wallet for this case, it is convenient and fast and no one has any questions. Sometimes there are questions about setting up the terminal, the support guys help, they are very smart. The broker is perhaps not for those who like to trade after work. If you want good earnings, you will have to allocate more time for trading.
Lexx 14 Jun 2023 Reply

Oanda today is perhaps the only broker with whom it is not scary to invest in the long term. Tools are good enough. They have many offices in major cities. But I solve most of the issues remotely, I have been in the office a couple of times during the entire period of cooperation. I also like that Oanda is constantly improving their products, opening up new markets and new opportunities. This year, Oanda opened up Asia, gave access to gold, and developed new protected products. By the way, they always work within the framework of current market trends, discover what is relevant now. In general, this is the broker you are not afraid to trust your money.
Tom 14 Jun 2023 Reply

I created an account with Oanda March 22 2023. I made a deposit. I saw the process of Oanda and was not satisfied. I asked for a refund and tried to request a withdrawal and it’s been 7 days and have yet to get my money back.
Michele 22 Apr 2023 Reply

Big requotes on Eur/Usd even during active market times. 14 pip difference from price trades on & execution price! I can’t believe that this forex broker is still allowed in the US. Stay away or they’ll take all your profits. I’ve been trading a long time & I thought these behaviors were gone in the US - but not with Oanda!
Joe J. 28 Oct 2022 Reply

I made deposit payment, was denied, tried to contact several times, but they keep saying thy never received my payment. until now I am still waiting for my money to come back to my account. I feel like thy scamed me coz I lost my money and they don't care.
Lucky 12 Jul 2022 Reply

I submitted a support ticket April 4, 2022, and still waiting for any resolution (2+ months later)! The settings on the online platform won't save. No one has reached out to me and when I follow up, I get robotic responses that they'll let me know when there's an update. I'm extremely disappointed in the technical issue and the customer service.
April 12 Jun 2022 Reply

Oanda has been great for the short time I have used the platform, but there are some major issues. Almost every week I get logged out while trading then when I try to log back in, I get an error message until my account gets locked out and blocked. Then when I call to unblock my account I'm on hold for over an hour. Seems like oanda is short staffed and they are having software issues - I've reported the problems to oanda and they don't seem to care, so I'm just going to move platforms.
Ziniho 7 Jun 2022 Reply

I have been waiting over one month for a support ticket to be resolved - the settings on the online platform will not save. Furthermore, I have asked support now twice for information on their fees with no response (there are a lot of different fees and trying to figure out exactly what they are on their website doesn't seem possible). I am going to move to another platform and I do not recommend Oanda. Although their trade layout is clean and easy to read, it's just not worth it - bad customer service and high/confusing fees.
Jackie 3 May 2022 Reply

I am having the same issue with the settings! It's been 9+ weeks after submitting a support ticket and nothing. Really terrible.
April 12 Jun 2022

Oanda is a fraud company. I took a forex trade NZD/CHF trade (ticket #1162), the price was nowhere near my stop loss but they stopped me out of the trade and when I questioned it, they claimed it was a market slippage that caused it which is fair enough but what annoyed me was taking £18 instead of £11 the agreed stop loss price! I would not recommend this broker. Please be aware this might happen to anybody.
F Michaels 9 Dec 2021 Reply

Terrible platform. Customer service is the worst. They have people in India reading off the screen that don't know anything about trading or the platform. The close your trades without warning. Im closing my account with them! Avoid.
Michael 21 Sep 2021 Reply

I just learned my entire account on Oanda got wiped out from "inactivity fee" because I trusted to use their platform for long term investments.
jeff 27 Apr 2021 Reply

Nice company with a solid reputation. My first account was opened in 2010. Oanda was the first retail fx broker that has provided tick data for all currencies. I still trade with them by testing expert advisers on small accounts. Good solution for beginners with small amount of money.
Greg77 11 Jun 2017 Reply

My experience of trading with Oanda is very positive. There are many features available on the website. If you have a real account, you get an access to huge database of historical prices. I use automated trading strategy and it requires backtesting on history. So I need high quality data and it's available on the website. The main point is that all data available in ticks. I can convert it to different timeframes and there is no need to pay extra money for data from other vendors. If you need good broker and high quality data for testing your algorithms then think twice about this one.
Huckeberry8 29 Jun 2016 Reply

I like them due to deep market liquidity and competitive spreads. Nothing out of the common - just nice stable trading conditions.
Raj 19 Jun 2016 Reply

Listen, I understand that this is a reputable broker but I am not satisfied completely with it. When I started, everything was perfect and suddenly the problems began. That sudden change occurred after I made profits several times. They stopped to execute orders. I thought something was wrong with my desktop, reloaded it and the pause was fatal for my deals. Perhaps I should continue but I’ve quitted at once. Though, it’s a pity. Here they offer innovative trading tools for analyzing the trends and stimulating the market, promise the secure trading.
Andy 2 Jun 2016 Reply

fxcm and oanda are mothere forex brokers to the universe. no forex broker can be compared with them. seriously. once and once again thanks to them
mahesh ch 16 Jan 2013 Reply

rule no 1: trade with oanda or fxcm
rule no 2: trade with oanda and fxcm only for ever and ever
mahesh ch 16 Jan 2013 Reply

the best and top and great and king forex brokers in the world are oanda.com and fxcm.com only for serious traders. because i have been trading with this two brokers for nearly 2 years. i accumulated $2m .
mahesh ch 16 Jan 2013 Reply

Compared to all brokers I've dealt with Oanda is the my favorite.
Nishkalanka FX 21 Sep 2012 Reply

and by the way, the regulators are funded by FX dealer and just regulate how FX brokers can steal from clients. Clients have no recourse to regulators, absolutely nothing, these thugs all work to find ways to steal from the public.Look at the financial crisis caused by these thugs colluding with one another. They are above the law because they have backing of the regulator and the regulator reports to the government which as we now see is also crooked.
todd 9 Oct 2011 Reply

Dangerous twists! I agree and now believe the majority of the positive reviews are funded by forex companies! I practiced and studied system for over 2 years. When I began I had a 93% winning streak for 3 months and tripled my money. However, problems began a day after making my first limited withdrawal. They are limited and Must be done in increments of $9000. After that moment limit orders were always a Pip away or less even with huge moves. Bids all resulted in instant reversal to the bid! I would occasionally get 1:20 return but it seemed I was the only player. After a 2 month retraction and reevaluation I was able to trickle minor income but the -Historical- anomalies only occurred on my trades within seconds of entry! These systems are not regulated appropriately and there are no open source disclosure to its directional purity. In this case as crazy as it seems I see an easy platform to program eliminatory strategies against actively successful investors. Beware!
Will 2 Nov 2018

thanks for the input regulator btw, 25 years ago I was trading with brokers via telephone calls. Yes it took me 25 years but there are many people who trade fx still, I wonder why because you cannot win unless you do physical money really, what do you think?
todd 7 Sep 2011 Reply

ps...I also made profit so am not writing this because of losses, it's because of their utterly useless management and systems
todd 14 Aug 2011 Reply

To Todd, if you want to make an official complaint you should contact IIROC who is Canada's regulator. iiroc dot com
Regulator 15 Aug 2011

Who do you or anyone on here suggest?
Belaj 16 Aug 2011

That would be fruitless and a waste of time because the FX market is not regulated at all, ANYWHERE!!! Sure FX dealers say they are members of the regulators but fail to tell you FX markets are NOT regulated by regulators, ask the regulators, they'll tell you the same too. These FX dealers all work with banksters to rob individuals, you might be lucky and get in and out with some profit but 99.99% individuals lose long term, that's fact.
todd 18 Aug 2011

I was customer with this bunch of crooks for 3 years. Made 17,000 small trades, over 3qtr trillion dollars in small trades. Made money in small amounts until they decided to target my account causing me losses of half million swiss francs. They also overcharge on bank transfer fees. My advice, stay away from them, they are the worst broker I have had in 25 years of trading. They openly brag about staff parties and bonuses on their website. Olsen sits in a office with one secretary over looking lake of Zurich, making billions from traders stupid enough to trade with oanda. This arrogant man refuses to talk to his clients as does his university & childhood friend Stumm in Canada. Client Funds are not protected but kept on Oandas own balance sheet!!!! very dangerous for clients. They often changed my account history transactions to the point I could not montior my account, their IT crowd deliberately kept changing my transaction history, yes, that's right!!! it's illegal. Of course there is also no one to report these thugs to. When I phoned their customer support, they returned my call threatening me. This is how the repay a customer who made over 17,000 trades in 3 years, paid 20,000 in interest and eventually lost half million with them. The platform continously crashes, they widen spreads often to 20 or 30 ticks. Fills never go in the clients favour and I filmed this for 3 years. Oanda are completely useless and should be in prison along with the bankers who support them.
todd 14 Aug 2011 Reply

Oanda has not SLIPPAGE !!!!!!!!!!!!!!!!!!:
The price showed in grafs is a average of bid and ask line. While in the metatrader is bid price.
Click on chart options (in top of grafh, right corner) and take your own conclusions.
To me the prices close straights

Speculator X 21 Jan 2011 Reply

i am from indonesia, oanda is the best broker, who give negative comment for oanda is looser, maybe lose big money.,.,.
Dinar 8 Jan 2011 Reply

Oanda is the Best for day Traders
elionu 4 Nov 2010 Reply

they do not have a way for you to close a position if the platform is down. And believe me it is down much more ofter then you would like. All you are left to do is just hopelessly watch as the market goes against you. So, get a backup broker. On the other hand, outside of news event times you will not have more than a .5pip slippage for your stops and they have tight spreads. do not trade news with them.
user since 2006 31 Oct 2010 Reply

Oanda

In 1996, as the internet began to reshape the world, two visionaries – an IT specialist and a finance professional – conceived OANDA. They discerned the revolutionary impact the digital realm would have on global finance, heralding a novel epoch of e-commerce. Today, OANDA stands as a...

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