Account type Minimum deposit Minimum trade size Maximum leverage Avg.Spread
Standard $ $1 – 1:50 1.4 pips on EUR/USD, variable
OANDA delivers a singular standard trading account to customers. While this is somewhat restrictive to customers, it is particularly advantageous because it ensures the same experience for every customer. Another interesting aspect of OANDA enterprise is that no charges are required to begin brokerage operations and minimum brokering size is excluded as well. Nonetheless, a stipulated requirement of one dollar is a perquisite to begin brokering.
About the enterprise
OANDA emerged amongst the earliest Forex brokering enterprise and has its center of operations situated in many important locations of the world. It was set up in 1996 and it is heavily controlled by relevant agencies in America, Singapore, japan, Australia and many more nations.
OANDA services are quite extensive and cater to both private dealers and corporate clienteles as well. OANDA is an online brokering enterprise and delivers a staggering currency database globally. OANDA brokering operations covers Forex, index, commodities and also includes valuable metals.
Provisions for Safety of Funds and operations
OANDA delivers tremendous amount of safety to clienteles, operations and funds. Being listed with the Futures Commission Merchant and Retail Foreign Exchange Dealer with the Commodity Futures Trading Commission in addition this enterprise is part of the National Futures Association.
Being a part of the NFA requires compliance with numerous guidelines. The downside to this is that most of these guidelines are rather restrictive from the standpoint of brokers and they cannot be circumvented. An illustration would be the fact that hedging is prohibited and there is a restriction on leverage too. When compared with European broker that enjoy leverages that extend upwards 1: 1000 In contrast to 1:50.
Moreover, it is stipulated by NFA that a twenty million dollar capital base is constantly kept and this is certainly great to safeguard clientele’s operations from forfeitures. Comparable lowest capital perquisite is obtainable in nearly every area, with traders in England mandated to have 730 000 in the lowest as an indication of monetary steadiness. In Australia, it stands at one million for eligibility to function.
Every single one of OANDA holdings in various parts of the globe are appropriately certified and supervised by relevant agencies.
Least First Payment
This is one attribute that makes OANDA a very impressive brokerage enterprise. It does not require any initial payment for you to start trading. It offers a very safe account that is suitable also for newbie brokers that want to start small.
While many traders demand a basic first payment that is aimed at taking care of relevant expenses initiating a fresh account, OANDA does not take any fee.
Spreads and Commissions
With OANDA you will get an assortment of spreads with the regular spreads reaching as much as 1.4 pips. Most of customers are motivated to leverage the no charge operations of this online brokerage enterprise give n that OANDA’s services are void of any charges for upkeep of accounts and brokering operations. The best part is that brokers receive payments from the spread.
From a comparative standpoint, FOREX.com delivers an average spread that stands at 1.8 pips for EUR/USD in addition to receiving charges as well.
This enterprise delivers 1: 50 as its highest leverage to clientele. While this is not very impressive, it must be pointed out that it is largely because of the restrictions set by the supervisory agencies on extent of leverage. For instance, CFTC restricts the leverage that is obtainable to retail Forex dealers in America which is set at 1:50 with 20:1 on every added pairs.
While it is great to get a higher leverage and this can be achieved by selecting a trader to give you very high leverage ratios, it must be pointed out that this could be very beneficial but could cause crippling loss too.
With this brokerage enterprise, you get three brokerage platforms which are FXTrade , Protrader Multi-Connect and the celebrated MetaTrader.
fX Trade is accessible via computers and mobile devices as well. It features a very convenient design and it is very efficient too. One of the most impressive features of the FX trade platform is that it delivers fast execution at a mind-blowing pace that is set at nearly 100 percent of every trade in a timeframe lower than .057 seconds.
In addition to the pace of implementation that Fxtrade delivers, it delivers an assortment of relevant features and functionalities for efficient brokering operations. With reliable charts, numerous sub accounts to evaluate a variety of tactics, financial updates, market assessments for expert sources.
After a careful consideration of Fxtrade features, it is assumed that it is designed to provide adequate support to newbies.
Oanda`s exclusive fxTrade
Lately, OANDA incorporated a new platform called Protrader which was designed by PFSOFT. This new platforms comes with many fascinating functionalities that are much sophisticated for enhanced operations. It comes with customization tools, automatic brokering functionalities, AgloStudio which is an expert system tactical creation instrument and many more.
OANDA’s MT4 is celebrated as a formidable online dealing platform. One of the reasons for the celebratory status of ONADA’s MT4 is because it efficiently supports automated operations. It makes it possible for you to initiate trades and be actively involved without being present. With EAs, you can be sure that you are trading even when you are absent. It also offers technical pointers, sophisticated charting provisions ad more.
Mode of Disbursement
OANDA delivers many alternatives for disbursement and collection of funds to its clientele. The various alternatives are determined by OANDA division of registration. However, major modes of disbursement are credit and cred cars, PayPal, bank wire and more.
OANDA enjoys an unassailable position as one of the best online brokerage enterprise and delivers and extensive range of currency pairs. Its operations also extensively embrace valuable metal and CFDs. With MT4 dealing platform, no restrictions on size of trade, no charges and no deposits required, this enterprise comes highly recommended.