Forex and CFD trading
Initially attracted to OANDA Canada 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
OANDA Canada offers some of the tightest spreads in the industry, especially on major pairs. Execution is lightning fast with minimal slippage. The MetaTrader integration works flawlessly and their proprietary platform has excellent charting. Demo account is unlimited which helped me practice strategies risk-free.
Pros: Tight spreads, fast execution, great platforms
Cons: Limited educational content for beginners
Started with OANDA Canada 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
OANDA Canada 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