Oanda is an online foreign exchange broker founded in 1996. It offers a wide range of financial services, including currency trading, commodities, indices, and CFDs (contracts for difference). Oanda’s proprietary web-based platform is easy to use and provides excellent features such as charting tools, advanced order types, price alerts, and news feeds. The broker also offers mobile apps for iPhone, iPad, and Android devices.
Oanda At a Glance
- Founded in 1996
- Regulated by the US Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA)
- No minimum deposit required to open an account
- Low fees for currency trading, including no commissions on most trades
- More than 70 currency pairs available for trading
- Web-based platform with advanced features such as charting tools, order types, price alerts, and news feeds
- Mobile apps available for iPhone, iPad, and Android devices.
Oanda is an online forex and CFD broker that offers a range of functionalities designed to help traders execute profitable trades. Here are some of the key features of Oanda:
- Trading Platform: Oanda provides traders with access to its proprietary trading platform which offers real-time market data, customizable charts, technical analysis tools, and a range of trading instruments.
- Low Spreads: Oanda offers some of the tightest spreads in the industry, which help to increase traders’ profits while minimizing their trading costs.
- Advanced Order Types: Oanda offers a range of advanced order types such as limit, stop-loss, trailing-stop, and guaranteed stop-loss orders, allowing traders to execute trades with precision and control.
- Hedging: Oanda allows traders to hedge their positions, which helps to reduce their risks and maximize their profits.
- APIs: Oanda offers APIs (Application Programming Interfaces) that allow traders to connect third-party trading platforms and services to its trading platform, improving their trading efficiency and providing access to additional features.
- Demo Account: Oanda provides traders with access to a demo account which allows them to practice trading strategies and test the platform’s functionality before risking real money.
Oanda Trading Strategy Tests
Oanda offers a range of tools and features for traders to test their trading strategies. Here are some of the ways that traders can test their strategies on Oanda’s platform:
- Backtesting: Oanda’s trading platform offers a built-in backtesting feature that allows traders to test their trading strategies against historical data. This allows them to see how their strategy would have performed in the past and make adjustments as necessary.
- Historical data: Oanda provides traders with access to historical market data, which can be used to test trading strategies and analyze market trends.
- Demo Account: Oanda provides traders with a free demo account, which allows them to practice trading strategies in a risk-free environment. This allows traders to test their strategies and get a feel for the platform before trading with real money.
- API integration: Oanda’s APIs can be used to integrate third-party trading tools and services, such as backtesting software, with Oanda’s trading platform.
By providing access to backtesting, historical data, a demo account, and API integration, Oanda’s platform allows traders to thoroughly test their trading strategies and make informed decisions about their trades.
What about Oanda Live Real Trading Results?
Oanda’s live real trading results are a testament to the effectiveness of its tools and features. Over the years, Oanda has produced consistently positive returns for traders, with some traders achieving profits of over 20%. Furthermore, Oanda has been awarded numerous awards for its superior trading conditions, including being ranked as one of the top FX brokers by several financial publications.
Here are some additional notes about Oanda:
- Regulation: Oanda is regulated by several financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Commodity Futures Trading Commission (CFTC) in the US. This ensures that the broker operates in a transparent and compliant manner.
- Customer Service: Oanda offers 24/7 customer support, which includes phone, email, and live chat. The broker also provides additional resources such as webinars, video tutorials, and educational resources to help traders improve their skills and maximize their profits.
- Trading Instruments: Oanda offers a range of trading instruments, including currency pairs, commodities, indices, and bonds. This allows traders to diversify their portfolios and explore new trading opportunities.
- Mobile Trading: Oanda offers a mobile trading app that allows traders to access the platform from their mobile devices, enabling them to manage their trades and monitor market conditions on the go.
Oanda Review SummaryOanda Review Summary
FUNCTIONALITY:10/10 The best
TRADING STRATEGY:8/10 Very good
LIVE RESULTS:8/10 Very good
CUSTOMER SUPPORT:10/10 The best
USER REVIEWS:10/10 The best
- Lowest spreads in the market
- Accurate and reliable pricing
- 24/7 customer support
- Limited range of trading instruments