OANDA Trading Account – Review, Types, Process, Benefits, Charges & more
Check out all details related to OANDA Trading Account here.
The OANDA Group was founded in 1996 and has been authorized and regulated by the UK’s Financial Conduct Author under the name OANDA Europe Limited.
The company has individual branches that are regulated by the US, Canadian, Australian, Singaporean and Japanese regulators.
The company does not promote public trading. In individual sectors, the company has over 200 plus employees.
OANDA promises the traders a trustworthy, reliable Forex Broker to trade from over 69 currency pairs on an upgraded MT4 trading platform.
Additionally, the trading platforms also provide a clean user interface that is equipped with streaming news, market analysis, and all the advanced trading tools.
In the last two decades, the OANDA group has become quite popular and has grown into an established player in the Global Trading market.
Today they provide trading facilities in Forex and index/commodity throughout the world and have customers globally.
OANDA Trading Account and Benefits
Some of the benefits of the OANDA trading account are:
As a trader, you may get confused by the wide range of options that are available in the market.
With OANDA online trading, you will get access to over 71 currency pairs, 16 stock index CFDs, 23 metal CFDs, 6 CFDs bonds, and 8 commodities CFDs.
You are allowed to use the property desktop software of the company and other platforms like MetaTrader 4. Developers update the trading platform every day.
Direct Chart Trading
The traders can access the chart and are allowed to open and close positions directly on trading platforms.
No Minimum Account size
With the help of this feature, the traders can open an account for as little as $1. This makes it an ideal platform to try out your strategies.
As mentioned above, the company has impressed the traders with regulatory oversight by several branches spread across the world.
As the trading platform is constantly monitored and managed by the superior bodies, they have to stay within a set of rules and regulations designed to protect the traders.
This helps to regulate and stop frauds and scams from happening.
You are allowed lengthy access to a demo account provided by the company. You can practice trading with an unlimited amount of virtual currencies as long as you want.
Fill up the Form – Open Forex Trading Account Now!
Find Trading Account Services of other Forex Brokers
|IG Trading Account||Just2Trade Trading Account||LQDFX Trading Account|
|IQ Option Trading Account||Libertex Trading Account||Markets.com Trading Account|
|IronFX Trading Account||Liteforex Trading Account|
OANDA Trading Account Charges
|Trading Account Charges|
|Account Type||Standard Account||Premium Account|
|Initial Deposit||0||$20,000 USD|
The trading account has a lot of charges that the traders need to know. These charges vary depending upon the type of OANDA trading account.
Types of Charges or Fees under OANDA Trading Account
Here are various types of charges which are charged by OANDA –
These are the fees that the traders are required to pay to trade. These are compatible with forex.com and FXPro.
In almost all cases, the smallest contract size is one micro lot. However, the company brings down the contract size from one unit to 0.001 micro lot.
The company is known to continuously publish a trailing average of its average spread across all the time frames that are available. This is done for greater transparency with pricing.
The charge that you need to be worried about is the commission which is accepted during the time of order.
The commission varies depending on the type of trading account.
You also need to know about the leverage amount, the initial deposit amount, swap fee, and other operations before you select the type of trading account.
Types of OANDA Trading Account
|Types of Trading Account|
|Trading Desk Type||Dealing Desk|
|Maximum Leverage||Up to 50:1|
|Suitable for beginners||Yes|
|Suitable for professionals||Yes|
|Suitable for scalping||Yes|
|Suitable for daily trading||Yes|
|Suitable for Weekly trading||Yes|
|Suitable for swing trading||No|
The company would be helping you with all the trading operations.
Not all traders have the same mindset thus they would be opting for a different type of trading account.
So now, we would be discussing the type of OANDA trading accounts:
The standard account does not require any minimum deposit. Thus anyone can open a standard trading account with the company easily. The MT4 open order indicator is updated every 20 minutes.
The minimum balance required for opening a premium trade account with the company is$20,000. The MT4 open order indicator is updated every 5 minutes.
Some of the common features provided by both the accounts are:
- Both accounts allow the user to trade in 70 FX pairs.
- You can trade in CFDs on major indices, commodities, bonds, and metals.
- OANDA online trading can be done using web and desktop platforms, mobile apps, and MT4.
- Fully automated execution is available and customer service is available 24/5.
- The premium account is mostly suggested to all professional investors who are looking to earn more with their trading skills.
OANDA Account Opening and Trading Process
- Firstly, you need to visit the official website of the OANDA group and click on open an account.
- When the pop-up appears, fill it up with all the necessary details and submit it.
- No, once you have completed the fill-up process, You must know to go with the E KYC process. Here, you will have to verify yourself by submitting a scanned copy of government-authorized identity proof.
- Whenever the company successfully verifies your identity, they will immediately open a trading account. After this, you will receive the login credentials.
OANDA Login process
- You can simply login into the OANDA web training platform by using the login credentials. Here, the user would be logged in using the OANDA Trading account.
- The user may also opt for the mobile application that the company has developed both for Android and iPhone users if they wish to trade on the go. You can download it from your app store or the OANDA official website.
Downloading And Setup
- If you are willing to use a trading terminal, you can select the MT4 platform.
- You will also need to download and install the necessary app along with the platform.
- In the next step, you have to log in using the login credentials provided by the company.
- You may practice trading using the demo account.
Find Different Trading Account Types of Forex Brokers
|Ninjatrader Trading Account||OctaFX Trading Account||Spectre AI Trading Account|
|NordFX Trading Account||Olymp Trade Trading Account||Spreadex Trading Account|
|Moneta Markets Trading Account||PrimeXBT Trading Account||Thinkmarkets Trading Account|
OANDA Trading Account – Features
To understand properly and get a vivid idea about the account provided by OANDA, we have listed a set of features :
- The company provides educational features that are, the traders get to learn everything about the accounts, risk management, fund management, and forex trading. The company has prepared special video sessions to help the traders.
- Some exclusive features include notifications, SMS notifications, an automated trading approach, API trading, and trading signals.
- The company also offers promotions, one-click trading, trading from charts, and other features.
Check out Online Trading Services of FOREX Brokers
|Trading 212 Trading Account||Avatrade Trading Account||iForex Trading Account|
|UFX Trading Account||eToro Trading Account||Forex.com Trading Account|
|XM Trading Account||FBS Trading Account||Alpari Trading Account|
OANDA Trading Account – Conclusion
In this article, all the necessary information regarding OANDA online trading has been mentioned. The company’s strong point is its striking track record and its strict financial management.
In 2021, OANDA was awarded the Best in Class in the Ease of Use category due to its simple web and mobile trading platforms.
OANDA Online Trading – FAQs
Here are the few FAQs related to the Oanda Trading Account:
Does OANDA provide online trading?
The company allows all its investors and traders to invest in Forex Trading and the market. You will also have a lot of options to trade from.
The company provides both beginner and expert-level trading accounts.
What are the commission charges of OANDA?
The commission charges vary from one account to another. You will only need to be a fixed commission for the trade.
The total cost of trade is the addition of the applicable spread plus the commission. The commission values from 0.1 with $40 Commission per million USD traded.
Does OANDA provide demo account Trading?
The company has developed a demo account for all its users. Here, the traders can practice trading using virtual currencies.
Practicing using this demo account would help you avoid losses and scams.
Is trading free at OANDA?
A minimum trading fee is charged by the company at the time of trading.
A few specific charges are included in the trading fees that include commission, spread charges, an initial deposit which varies on the type of account.
Does OANDA provide Spot metal trading?
The company allows you to trade in spot metal trading.
You can easily monitor your investment and thereby develop strategies to gain profit.
What are Spot Metal Trading charges?
OANDA trades in various precious metals. The charges depend on your account type and order type.
Does OANDA provide stock trading?
The traders can also invest in stock trading using their OANDA trading accounts. If you are willing to invest in stocks, you will have to pay an extra charge to the company.
What is the spread at OANDA?
The spread charges vary upon the type of investment. The fee is compatible with the global market and forex.com and FXPro.
Is OANDA safe for trading?
The company is monitored and controlled by governing bodies belonging to different countries. With this feature, the company follows a set of rules thus making it safe for all kinds of trading.
Does OANDA provide trading tips?
You need tips whenever you are trading. These tips are necessary for beginner-level traders so that they do not lose their money. The company has certified experts that help the traders whenever they are stuck.
Fill up the Form – Open Forex Trading Account Now!
Most Read Articles
|Forex Trading – Know Everything|
|Forex Broker – Know Everything|
|Why Trade in Forex?|
|How to Trade Forex?|
|Forex Trading Strategies|
|Forex Trading Tips|
|Become a Successful Forex Trader|
|Best Forex App|
|Top Forex Broker|
|Best Forex Trading Books|