Forex Brokers

OANDA

3.7 (7 reviews)
🇺🇸 United States, New York
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About OANDA

Global forex broker offering competitive spreads with no commission on trades, serving clients since 1996.

Customer Reviews

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Decent broker with average spreads

J
James W.
2 months ago

OANDA does the job for casual forex trading. Platform works, spreads are okay but not the best I've seen. Customer support is hit or miss - some agents are very helpful, others seem to read from a script. Deposits are instant but withdrawals take 3-5 business days.

Pros: Functional platform, instant deposits

Cons: Average spreads, inconsistent support, slow withdrawals

Exceptional CFD and forex offering

A
Amanda P.
7 months ago

OANDA has been my go-to broker for three years. Their range of tradeable instruments is massive - thousands of markets across forex, indices, commodities, and shares. The risk management tools including guaranteed stop-losses have saved me multiple times. Worth every penny.

Pros: Huge market range, excellent risk tools, guaranteed stops

Cons: Premium for guaranteed stop-losses

Professional-grade trading platform

B
Barbara B.
7 months ago

As a full-time forex trader, I need a broker that can keep up. OANDA delivers with institutional-grade execution, deep liquidity, and competitive pricing. Their VPS hosting option ensures my automated strategies run 24/7. Withdrawals are processed within 24 hours. Can't fault them.

Pros: Institutional execution, VPS hosting, fast withdrawals

Cons: Minimum deposit higher than some competitors

Mixed feelings after six months

L
Lawrence A.
8 months ago

Started with OANDA optimistically but my experience has been mixed. The platform itself is good and execution is fast. However, I noticed spreads widen significantly during news events and the swap rates are higher than competitors. Good for day trading, less so for holding positions overnight.

Pros: Good platform, fast execution for day trading

Cons: Wide spreads during news, high swap rates

Good for both beginners and pros

N
Natalie M.
9 months ago

OANDA caters well to different experience levels. Their educational resources helped me learn forex trading fundamentals, and as I've grown, their advanced tools have supported my progression. The social trading feature is interesting for following experienced traders. Good overall package.

Pros: Education, social trading, progression-friendly

Cons: Social trading results can be misleading

Reliable broker with good regulation

D
Deborah P.
9 months ago

Been trading with OANDA for 18 months. What I value most is the regulation - knowing my funds are segregated and protected gives me confidence. Spreads are competitive on majors, slightly wider on exotics. The platform rarely goes down and trade execution is good. Solid choice.

Pros: Strong regulation, fund segregation, reliable platform

Cons: Exotic pair spreads could be tighter

Hidden costs and aggressive marketing

B
Betty I.
9 months ago

Initially attracted to OANDA by their advertising. The headline spreads look great but in practice there are additional costs that aren't immediately obvious. I also get bombarded with promotional emails and phone calls encouraging me to deposit more. The trading itself is fine but the marketing tactics are off-putting.

Pros: Trading platform works adequately

Cons: Hidden costs, aggressive marketing practices