I have noticed on many occasions that they widen the spread of the spread to hunt stops. Another detail for which I have already decided to look for another broker, is the fact that they have charged me five euros for a swap of a "micro lot" of platinum, What is the price for a lot, €500?
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.
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.
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.
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.
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.
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!
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.
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.
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.
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.
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.
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.
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.
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.
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.
I like them due to deep market liquidity and competitive spreads. Nothing out of the common - just nice stable trading conditions.
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.
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
rule no 1: trade with oanda or fxcm
rule no 2: trade with oanda and fxcm only for ever and ever
