OANDA Full Review
What is OANDA?
OANDA has become one of the most important forex and CFD trading companies thanks to its good reputation that has created strong confidence in its customers. Its customers and giving them more comfort, which made it make significant progress and gain a high position in the market, despite the company sees that it still has many untapped opportunities that it must explore.
This broker is distinguished from others by many advantages that make it competitive. Competitive spreads for all their instruments, transaction fees, Islamic account, and trading platforms are differences from others brokers.
The most important feature of this broker
Organization & Regulation
The regulation is the most important feature of this financial firm. OANDA credibility gives its customers strong confidence in it, as the company is subject to regulation by the Financial Services Commission in the British Virgin Islands (BVI)BVIFSC, while customers located in Europe receive protection through their own regulatory authority.
It offers a variety of accounts that suit all customers' requirements. It has a Standard and basic account (Core) and an account free of usurious interests that suit the Islamic community (Swap-free). The company also provides a demo account that gives you the opportunity to experience trading through its platforms without opening a real account.
The open account process is easy with this broker, as it can be opened by bank transfer (either local or international) or by credit or debit card or Skrill or Neteller.
Deposit and withdrawals
OANDA is not charging fees for deposits or withdrawals, both operations are free of charge, except for the bank transfer, which is added by adding a fee of $25, and you also impose fees on the inactive account for a year.
This platform accepts all deposit options including bank transfer, credit and debit cards, e-wallets, and Bitcoin.
They offer OANDA possibility of trading on a wide range of different assets, which includes contracts for difference (CFDs), forex trading, indices, stocks, commodities and metals, as well as digital currencies and bitcoin. Regarding forex trading they offers a wide range of foreign currency pairs that includes the USD, the euro, the Singapore dollar and the Canadian dollar.
Trading platforms and trading orders
They OANDA its propietary trading platforms, and also Oanda offer the MetaTrader 4 web platform, and many premium applications that can be downloaded on tablets and smartphones.
They also provide a variety of different important orders, which are the stop loss order, the take profit order, a limit order and the market order, and it also allows the possibility of executing orders automatically without interference from any party.
OANDA offers a welcome bonus of about 50%, which is unusually good
Charts and indicators for technical analysis
They provide excellent education, news and market analysis tools, which include technical analysis indicators and charts with different time frames, and all of these tools are combined to give the trader an excellent experience of analysis that is closer to reality. Oanda provides about 30 technical indicators and 24 technical analysis tools, besides 9 multiple time frames.
Learning and support
They offer OANDA outstanding balance of different educational materials, including written and visual formats, along with webinars conducted by the company's employees. The expansion of written content and videos will help to raise the level of education of the company, and thus aims to raise the level of efficiency of its customers.
They provide 24 hour support, five days a week, you can communicate with them through live chat with your account manager, and they support direct communication, you can also communicate through email and phone.