OANDA is one of the most experienced and innovative forex broker companies. Founded in 1995 by Dr. Michael Stumm, a professor of Computer Engineering at the University of Toronto, and Dr.
Richard Olsen of The Olsen Ltd., a leading econometric research and development firm.
In 1995 Oanda was the first broker to offer a vast range of currency trading information online for free and in 2001 it was the first to offer fully automated online currency trading.
It was Oanda who introduced graphical forex trading as we know it today. The strong side of OANDA is their unique trading software that provides very tight spreads and fast executions.
OANDA’s currency rate tools and up-to-the-date forex news and analysis are used by many leading financial institutions and companies which speaks for their quality.
OANDA’s clients receive free access to news feeds from Thomson Reuters, Dow Jones, UBS, and 4Cast.
Oanda also offers analytic trading tools and aggregated real-time expectations and positions of thousands of our traders to create a market sentiment index.
Oanda platform is well suited both for beginners and experienced traders – beginners will enjoy the user friendly interface, that there is no minimum deposit and as the experience grows the traders will appreciate the advanced tools and resources provided.
Detailed rating
Awards
2012 Best forex provider – Financial Times & Investors Chronicle
2012 Highest Overall Client Satisfaction – Investment Trends
2012 Value for money – Investment Trends
2012 Best Forex Broker – Forex Magnates
Key figures
Founded: 1995
Headquarters: New York (USA)
Regulated by: NFA, CFTC, FCA, IIROC, JFSA, MAS
Minimum Deposit: $1
Execution type: No Dealing Desk (NDD)
EUR/USD spread: 0.9 – 1.3 pips
Maximum Leverage: 1:50
Money Withdrawal: 3-7 working days
Commissions: No*
Payment options: Paper Check, PayPal, Bankwire and Credit Card
Withdrawal options: Paper Check, PayPal, Bankwire and Credit Card
Contacts: [email protected]
*Small deposit/Withdrawal fees might apply depending on the type of payment method
Pros
Simple to use but highly powerful and innovative technology.
Very tight spreads.
No Rollover swaps so long term trades can be made.without worries
State of the art market data software, professional up-to-the-minute news and analysis.
Rich in unique features (Tear-away windows, different time-horizons, visible SL/TP and entry points, drag-and-drop setting of SL/TP thresholds.
You can receive interest on the whole account balance.
High security level with encrypted communication.
No discrimination – everyone despite the trading amounts get the same spreads
No software to download.
Rich variety of platforms: from web, iPhone, iPad, Android, blackberry, MT4 and API’s for access from corporate software.
Multiple sub-accounts so funds can be transferred between different currencies or converted to strategic currencies.
Cons
During the news releases the spreads might widen.
MT4 platform integration has occasional delays.
Hedging not available.
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