Regulators
FCA, ASIC, CFTC/NFA, MAS, FSA Japan, IIROC
Min. deposit
$0 (no minimum)
Spread from
0.6 pips (Standard)
Max. leverage
Up to 1:30 (EU retail) / 1:50 (US)
Platforms
MT4, MT5, OANDA Trade (web + mobile), TradingView
Founded
1996 · Toronto, Canada / New York, USA
OANDA review summary
OANDA is one of the oldest retail FX brokers globally, founded in 1996 and operating across the US, UK, EU, Australia, Singapore, Japan, and Canada. It is one of only a handful of brokers with direct CFTC/NFA US regulation alongside the standard tier-1 set (FCA, ASIC, MAS).
The proprietary OANDA Trade platform is among the cleanest in the industry — web + mobile native, no MT4 baggage, with built-in fractional pip pricing and unique features like the FX Order Book showing real-time client position data.
For US traders, OANDA + Forex.com are essentially the only two credible regulated retail FX options. For EU/UK traders, OANDA is a strong tier-1 alternative to IG and Pepperstone with a particularly clean platform experience.
Where to trade
OANDA is the best choice if you need US-regulated FX access. EU traders should compare against Pepperstone and IG for spread/platform fit.
OANDA — Frequently Asked Questions
Is OANDA regulated and safe?
OANDA is regulated by FCA, ASIC, CFTC/NFA, MAS, FSA Japan, IIROC, holds client funds in segregated accounts and operates under active financial-services licenses. Verify each license number on the regulator's official website before depositing.
Is OANDA legit or a scam?
OANDA is a legitimate, regulated broker — not a scam. It operates under oversight from FCA, ASIC, CFTC/NFA, which require segregated client funds and regular audits. Always confirm the specific entity and license that will hold your account, and avoid clone sites using a similar name.
What is the minimum deposit at OANDA?
The minimum deposit at OANDA is $0 (no minimum). Standard accounts accept this minimum; premium or professional tiers may require more.
How do I withdraw money from OANDA?
Withdrawals from OANDA are returned to your original funding method — card, bank transfer, e-wallet or crypto, depending on how you deposited. E-wallets and crypto are usually fastest; bank transfers take longest. Processing times and limits are set by OANDA, so check its funding page for current details.
What fees and commissions does OANDA charge?
OANDA's main cost is the spread, starting from 0.6 pips (Standard). Raw/ECN accounts add a per-lot commission in exchange for a tighter spread. Also factor in overnight swap fees and any inactivity fee. Compare the all-in cost (spread + commission), not just the headline spread.
What are the typical spreads at OANDA?
Spreads at OANDA start from 0.6 pips (Standard), varying by account type, instrument, time of day and market volatility. Raw/ECN accounts add a commission on top of the tighter spread.
What account types does OANDA offer?
OANDA typically offers a standard (commission-free, slightly wider spread) account and a raw/ECN (tight spread plus commission) account, with a swap-free Islamic option where available. The minimum to open is $0 (no minimum), and platforms include MT4, MT5, OANDA Trade (web + mobile).
What trading platforms does OANDA offer?
OANDA supports: MT4, MT5, OANDA Trade (web + mobile), TradingView. MT4/MT5 are the industry standards; cTrader suits ECN execution; proprietary platforms add broker-specific tools but less third-party compatibility.
What is the maximum leverage at OANDA?
Maximum leverage at OANDA is Up to 1:30 (EU retail) / 1:50 (US). EU/UK retail clients are capped at 1:30 on major FX by ESMA rules regardless of broker policy; professional and offshore-entity clients can access higher leverage subject to qualification.
Does OANDA offer a demo account?
Yes — OANDA offers a free demo account with virtual funds, so you can test the platform and practise a strategy on live prices before depositing real money.
Who is OANDA best suited for?
US-resident traders + serious EU/UK traders wanting institutional-grade regulation and a clean proprietary platform.
