OANDA is one of the earliest pioneers of the retail forex industry. Having roots in academia, the company built its reputation, product offerings, technology, and customer base to the point now that it’s one of only three forex-only brokers in the U.S., and also serves customers throughout the U.K., Singapore, Canada, and Australia.
Since the company’s inception back in the 1990s, OANDA has been at the forefront of retail forex, offering the latest trading technology and services to a global customer base.
- Accounts can be opened for as little as one dollar
- Regulated by the CFTC, IIROC, FCA, ASIC, and the Monetary Authority of Singapore
- Offers both a traditional broker spread and the typically less expensive raw spread plus commission model
- Research and news resources are scattered
- Education and webinars were fragmented and disorganized
- Slow custo
Key points about OANDA include the fact that it has a $0 minimum for live accounts, which is not too common for any type of broker, including forex-specific brokers. Also, the company is well known for its quality of trade execution and transparency when it comes to pricing and fees.
Finally, OANDA has long focused on its trading technology, which includes its proprietary web-based and desktop platforms, as well as mobile and MetaTrader 4 options.