FxTrade Oanda Review

Oanda 

As With All brokers, if you visit forex trading forums you will see That Oanda has its fair share of forum bashing and praising, Often Depending on Whether the trader is holding Their Own or Their just lost money. Forex trading is not for inexperienced traders, and Certainly not For Those That can not Afford to Lose Their Entire forex account balance. Oanda is a market maker broker, and as With All market maker brokers, it is wise to do your research and run another data stream or a few for comparison. However, some report That Oanda has a higher profit percentage than many other brokers. 

Oanda started out as an online currency-exchange and information provider in 1996 Began to offer forex trading services in 2001. In case you were wondering, "OANDA" is not an acronym. It is not an abbreviated term for a bank or even anyone's name. The founders just thought it was clever for some reason. This broker is suitable for all traders does not porque require a minimum deposit. You could even open an account with a small amount and dabble on the market until you gain the experience you need to Increase your trade volume. With Oanda, you can trade more than 60 currency pairs and Use leverages of 20:1 or 50:1. This broker does not enforce a minimum trade lot size. 

Oanda is one of few forex brokers to conveniently accept payment by check, credit card, debit card or wire transfer. Oanda keeps customer funds at Deutsche Bank, JPMorgan Chase and the Royal Bank of Canada, Among Others, and Maintains These accounts separately from its operating accounts. Its auditor KPMG was in the past. We can not Verify who is the current auditor. Headquartered in Toronto, Canada, the Investment Industry Regulatory Organization of Canada Regulates this foreign exchange broker. 

In the United States, Oanda is incorporated in the state of Delaware. Oanda is a registered Retail Foreign Exchange Dealer With the U.S. Commodity Futures Trading Commission and a Forex Dealer Member of the National Futures Association, The Monetary Authority of Singapore, Regulates the Asian subsidiary. Also Oanda holds a Type 1 Financial Instruments license from the Japanese Financial Services Agency and is a member of the Financial Futures Association of Japan. In the past, Oanda was regulated by the Dubai Financial Services Authority, but we do not see That license now listed, nor does it seem That Oanda currently offers swap-free accounts. 

In the past, offered Preferred Oanda a proprietary trading platform. It now offers access to four MetaTrade like most brokers. Oanda's product is called forex trading fxTrade, que offers practice accounts. Trading platform options include web access, mobile phone apps, forex API and a Google Chrome extension. The web version does not require a download, so it will work from any computer. The mobile phone apps include apps for Blackberry, iPhone, iPad and Android.

Oanda Summary:

8.2/10