In-Depth 2024 OANDA Trading Platform Review

In 2024, low spreads, instant execution, excellent customer services, and access to hundreds of assets mean that OANDA remains a leading broker in the financial markets trading industry. This review goes in-depth into OANDA’s trading platform features, from security and robustness to trading products and customer-centric services, that help traders explore financial markets.

Introduction to the OANDA Trading Platform

OANDA is a financial services company that offers online trading brokerage services, exchange rate information, and corporate payments. The trading platform provides access to global financial markets. Co-founded in 1996 by Dr. Michael Stumm and Dr. Richard Olsen, the company went live in 197, providing live data of market prices to traders. Traders can explore online trading at OANDA, trading CFDs, crypto, forex, stocks, options, indices, metals, and commodities.

OANDA trading platform serves everyone, from individuals to financial institutions, portfolio managers, and corporations. It provides various services by leveraging innovative technologies. The broker is also a reputable market maker with some of the most competitive trading conditions in the market.

Key Features of the OANDA Trading Platform

What makes OANDA stand out? Here are some of the key features we found that make it one of the top brokers in the industry.

Advanced Tools

Traders can access sentiment, topical instruments, volatility charts, currency strength, currency power balance, and advanced and basic charts with over a dozen technical indicators.

Real-Time Analytics

Market data, such as exchange rates, volumes, trends, etc., are updated in real-time, allowing traders to see market changes. Traders can also access non-price data relevant to financial markets.

Seamless Execution

OANDA leverages cloud computing technology[1]  to provide seamless trading; orders are executed instantly without lags, allowing traders to buy, sell, and exchange assets at the best possible prices.

Third-party Integration

To reach more traders and enhance the trading experience, OANDA allows third-party integration to TradingView, AutoChartist, MetaTrader 4, and MetaTrader 5 platforms. These platforms extend OANDA’s functionalities, allowing traders access to advanced tools and features, such as one-click trading, which are unavailable on OANDA’s proprietary software.

Mobile App

Mobile users can trade via OANDA’s mobile app, available for compatible smartphones, tablets, and other devices.

Excellent Trading Conditions

OANDA has low spreads and commissions, zero deposit and withdrawal fees, and account protection features for a smooth trading experience.

Security and Regulation

OANDA relies on a combination of security technologies and highly-trained human experts to secure its trading platform. They deploy the latest industry-standard encryption protocols, cloud security, and AI-powered security to monitor, anticipate, and forestall threats actively.

Industry-standard certifications, two-factor authentication, partnerships with multiple industry-leading security firms, and a standby internal security team ensure that OANDA is always secure, assuring traders of the safety of their sensitive data and funds. There is also a guided ethical disclosure program for people who may have discovered any security issue on OANDA.

Recognized authorities also register the broker across several continents.

• OANDA Europe Ltd, regulated by the UK Financial Conduct Authority (FCA).
• OANDA Europe Markets Ltd, regulated by the Malta Financial Services Authority.
• OANDA Corporation, regulated by the US Commodity Trading Futures Commission and National Futures Association.
• OANDA (Canada) Corporation, regulated by the Investment Industry Regulatory Organization of Canada (IIROC).
• OANDA Australia Pty Ltd, regulated by the Australian Securities and Investment Commission (ASIC).
• OANDA Asia Pacific Pte Ltd, regulated by the Monetary Authority of Singapore (MAS).
• OANDA Global Markets Ltd, regulated by the British Virgin Islands Financial Services Commission.

Customer Support and Service

The broker offers 24/7 customer support in multiple languages. Traders can get many of their questions answered via the automated assistant, with further inquiries going to human agents who are always on hand. Customer service is accessible via live chat, WhatsApp, Facebook Messenger, SMS, phone, or email (frontdesk@oanda.com).

OANDA’s learning portal provides continuous education for traders, from beginners to advanced. Traders can learn the basics of financial trading, technical and fundamental analysis, familiarity with the trading platform, the various tools and strategies, and capital management, and engage in live webinars and events to keep learning.

Pros and Cons of the OANDA Trading Platform

Here are some reasons why OANDA may or may not be suitable for traders.

Pros

• OANDA is a good fit for beginner and expert traders.
• There is no minimum deposit amount or multiple deposit and withdrawal methods.
• Basic and advanced trading tools.
• Excellent customer service.
• Access to trader CFDs on over 70 forex pairs and hundreds of other assets.
• OANDA accepts U.S. traders and is one of the few brokers to do so.
• A robust collection of useful tools and features, from real-time data analytics to economic calendars and news feeds.
• A range of market orders that enhance trading outcomes.
• Trading analysis for overall profit/loss breakdown.

Cons

• OANDA has no negative account protection for U.S. clients.
• CFDs are only available for forex pairs and not for stocks and ETFs.
• Monthly inactivity fees may apply on OANDA.
• The educational content leaves a bit to be desired.

Trading With OANDA in 2024

With an overall Trust Score of 93 out of 99 on ForexBrokers.Com, OANDA brings over five years of experience in the financial services industry to serve customers in 2024. The broker maintains respectable industry standards for security, customer service, product offerings, and comprehensive trading tools, allowing traders to explore financial trading confidently. If you want to trade with OANDA, explore the Demo Account to become familiar with the platform.

Disclaimer: The text above is an advertorial article that is not part of Coincu.com editorial content.