OANDA review: Top FX broker with a digital asset offering 

FinanceFeeds Editorial Team

FinanceFeeds reviewed OANDA Corporation, a FX broker in the US founded in 1996.

In this review, we focused on the services provided by OANDA Corporation, only available to residents of the United States. OANDA Corporation is regulated by the CFTC/NFA. OANDA is a member Firm of the NFA (Member ID: 0325821). CFDs are not available to residents in the United States. 

Trading Platforms

OANDA offers an award-winning proprietary trading platform called OANDA Trade, available for desktop, web, and mobile devices. The user-friendly and easy to navigate platform features advanced charting tools, real-time market data, and a range of customizable options. 

The leading FX broker also allows users to speculate on the markets using the two most popular trading platforms in the world: TradingView and MetaTrader 4.


For residents  in the United States, OANDA Corporation is a registered Retail Foreign Exchange Dealer (RFED) with the U.S. Commodity Futures Trading Commission (CFTC), and a Forex Dealer Member (FDM) of the National Futures Association (NFA # 0325821).

Forex and Crypto

OANDA offers over 68 6870 major and minor currency pairs and 10 popular cryptos, including Bitcoin and Ethereum.

The crypto offering is made possible via partnership with Paxos Trust Company, which provides all exchange and custody services for trading and holding cryptocurrencies.

OANDA currently provides access to 10 digital assets: Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ave, Chainlink, Matic, Uniswap, Solana and PAX Gold, which is backed by real gold bullion.



OANDA offers flexible leverage options that can go as high as 50:1. The broker was one of the first to cut margin by following the United States regulatory changes post-2008 financial crisis. Other top tier jurisdictions, such as Japan, Australia, the UK, and European Union followed the same path of restricting leverage to protect retail users. This is because it became evident that high leverage can significantly increase trading risks and it is important to use it wisely and manage risks effectively.

Research and Education

OANDA provides traders with an extensive range of educational resources and research tools, including webinars, videos, articles, and a trading academy. The broker’s MarketPulse site has dedicated news, research, and analysis content delivered by OANDA’s in-house team.

The broker’s market analysis and research tools include daily and weekly market insights, economic calendars, and real-time news feeds.  

Customer Support

OANDA offers support in several languages, making it accessible to traders from around the world. The customer service team is highly responsive, knowledgeable, and friendly, providing traders with prompt and effective solutions to any issues or queries they may have. Customer support, however, is not available 24/7.

Account Types

OANDA offers two account types to cater to the different needs of traders, providing different benefits, pricing options, support, and features.

The Standard Account does not include a dedicated relationship manager nor unlimited free wire transfers, nor priority service queues, and the MT4 open order indicator only updates every 20 minutes. But there is no minimum requirement.  

The Advanced Trader loyalty program requires a minimum account balance of $10,000, but provides world-class support, access to a relationship manager, free wire transfers, and the MT4 open order indicator updates every 5 minutes.

Additionally, OANDA also provides traders with a demo account, which enables them to practice their trading strategies and gain experience without risking real money.

Deposits and Withdrawals

OANDA offers a range of deposit and withdrawal options, including bank transfers, ACH deposits, and  debit cards backed by MasterCard,Visa, and Discover.  Withdrawals can be made via debit card or bank wire transfers.

The broker does not charge any deposit fees, but they do charge for wire transfer fees, traders should check with their payment provider for any associated fees or charges.

Opening an Account

Opening an account with OANDA is a straightforward process that can be completed online in just a few minutes.

The broker requires traders to provide identification and proof of residence for regulatory purposes. The account opening process is fast and efficient, and traders can begin trading as soon as their account is verified and funded. 

  Winter Bonus of up to US$10,000

OANDA is currently offering a Winter Bonus that can go as high as US$10,000 for new accounts. New clients can earn up to US$10,000 when minimum initial deposit and trade volumes are met. The bonus payment may take up to 45 days after qualifying.

The Promotion is offered by OANDA Corporation and OANDA (Canada) Corporation ULC; clients of other OANDA entities are not eligible.

To qualify for the Promotion, eligible clients will need to register for the promotion by 31 March 2023, deposit the minimum amount, and meet the Minimum Trade Volume Requirement before the expiration date of the Promotion.


Overall, OANDA is a reputable and well-regulated forex and crypto broker that offers a comprehensive range of trading products, flexible account types, and an intuitive trading platform.

The broker’s commitment to transparency, innovation, and exceptional customer service has made it a popular choice for traders of all levels of experience. With an extensive range of educational resources, market analysis tools, and multilingual support, OANDA provides traders with the tools and resources they need to succeed in the forex market.

 However, traders should be aware of the risks associated with leveraged trading and should use high leverage wisely to manage their risks effectively. Overall, OANDA is a strong choice for traders looking for a reliable and trustworthy forex broker.

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