What is OANDA?
OANDA is a forex and CFD broker based in United States, listed with a foundation year of 2010. It offers leverage up to 1:500, spreads from 0.0 and a minimum deposit of $1. Clients trade on MetaTrader 4 (MT4) and on mobile.
Is OANDA safe and regulated?
OANDA is regulated by CFTC - Commodity Futures Trading Commission NFA - National Futures Association. This is a tier-1 regulator with strict capital rules, segregated client funds and, in many cases, an investor compensation scheme.
Safety checklist before you deposit
- Find the licence number on the broker's website and check it on the regulator's official register.
- Check that client funds are held in segregated bank accounts.
- Make a small first deposit and test a withdrawal before you add more.
- Confirm negative balance protection applies to your account type.
OANDA account types
The broker offers several account options so beginners and experienced traders can choose the right fit. Accounts open from a $1 minimum deposit.
| Account | Best for | Available |
|---|---|---|
| Mini account | Beginners trading small lot sizes | Yes |
| VIP account | High-volume traders wanting raw spreads | Yes |
| Islamic (swap-free) | Traders who need no overnight interest | Yes |
| Managed account | Investors who prefer a money manager | Yes |
Trading platform and conditions
OANDA provides MetaTrader 4 (MT4), so you can trade from any browser without installing software. Mobile trading is supported as well.
- Scalping and hedging are permitted, which suits short-term and EA-style strategies.
- News trading is allowed during high-impact economic releases.
- Spreads from 0.0 are available on raw pricing, with a commission per lot.
- Leverage up to 1:500 gives large position sizes from a small deposit, which also raises the risk of fast losses.
Deposits and withdrawals
OANDA supports 1 funding method, including Moneybookers - - Neteller - MasterCard - VisaCard. Accounts can be held in 1 base currency (USD), which helps you avoid conversion fees.
OANDA bonus: Yes
How the promotion works
The current OANDA promotion is Yes. Entry rules, dates and eligible countries are set by the broker. Read the full terms on the OANDA website before you trade for it.
Check the promotionLooking for free trading credit instead? Compare the latest forex no deposit bonus offers and forex deposit bonuses.
OANDA pros and cons
Pros
- High leverage up to 1:500
- Raw spreads from 0.0
- Scalping and hedging allowed
- News trading allowed
- Islamic, VIP, Mini and managed accounts
- Low minimum deposit of $1
Cons
- Bonus and promotion terms vary by country
How to open an OANDA account
- RegisterVisit the OANDA website and sign up with your name, email and phone number.
- Verify your identityUpload a passport or national ID and a recent proof of address (KYC).
- Choose an accountPick Islamic, VIP, Mini, managed or a standard account, and your base currency.
- Fund the accountDeposit at least $1 with Moneybookers - - Neteller - MasterCard - VisaCard.
- Start tradingLog in to MetaTrader 4 (MT4) or the mobile app and set your risk per trade.
Is OANDA a good broker? Our verdict
OANDA suits active traders who want high leverage, raw spreads, freedom to scalp or trade the news. Its tier-1 regulation adds a strong layer of client protection. Start small, test a withdrawal, and only trade money you can afford to lose.