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Oanda.com profile provided by MatthewC, Mar 22, 2016
Trade with confidence knowing your OANDA CFD* & retail forex trading account gets competitive spreads with no commissions on your trades, no minimum deposit and no account maintenance fees
Low cost of CFD and forex trading is more than just spreads. It's having your trades executed automatically without requotes or rejections, unless you choose to place upper or lower bounds to protect against price fluctuations.
Award-Winning Online Trading Platform
Experience the power and ease of CFD and forex trading with OANDA across all our trading applications. OANDA puts you in full control of your trade strategy, so you never lose sight of the market.
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This company never has given me any issues with any withdrawal or any of my scalping trading style or the signal providers I use. I highly recommend them and hope they continue accepting US clients!
Oanda used to be excellent. No complaints.. However the quote for example for ftse100 index futures is at about 6815, compare it to oanda and it's at 6858 now. When approached, oanda brushed it off by saying that's what they offer and it is close. Obviously something is really wrong here.
To describe Oanda in one word is that they SUCK!!! I have been a customer for 10 years, but ever since they changed ownership, they have not been the same. Their main office moved from NYC to Canada. Their customer service has been outsourced to a "Boiler Room" in India. This company is a "Bucket Shop"; meaning that your trades stay with Oanda and trade against you. They love to move the spreads so they can win and you can lose. I would highly recommend an ECN broker.
This broker always processes my deposits and profit withdrawals very fast. No issues. The people that complain about them I feel do not understand the seriousness of FX versus a casino. The staff has always been good to me... Just my 2 cents! Thanks Oanda!
I applied for opening a live trading account, send some documents and everything seemed alright. On the second day I decided to register using cahbackforex link to get some rebates for my trades and asked my manager Lorin M. about this service. She and OANDA support desk ignored my requests multiple times. On the fourth time, they merely noticed that they will not discuss this issue and I must solve the problem on my own. Whe I sent them the scanned original copy of bank statement with all the stamps and signatures of my bank, Lorin told me that I need "true copy" stamp and they will not accept it. When i argued that the original bank statement does not require "true copy" stamp - simply because it is an original - she asked me "not to speak with her in such manner". I decided not to continue and cancel my registration. Incompetent and unfriendly staff - my work with OANDA UK finished before it started.
I have been trading with OANDA for almost 4 years now excluding demo account period. I have gone through some ups and downs with this company. I would say they used to have really good spreads that go as low as 0.8 pips for EURUSD during a certain period but I occasionally see 2 pips or higher for EURUSD now. It is a sad fact after reading the reviews but it seems like many others are right and that this company used to be one of the best but is slowly starting to be greedy with profits.
I'm a newbie, and have opened a demo account with Oanda. I have found their email tech and chat tech service excellent. Their demo has not time limits, and one can buy currency pairs by single unit lots, and trade in increments of $1. Their fxTrade platform has instant execution, reputed to be much faster that MT4's.
Wide spreads, what more is there to say. Things started out great more than 4 years ago for me. Gone are the days of spreads consistently below 1 pip. But now it is time for a change to a better broker..
I had same problem last night. They moved the spread on the gbp/nzd to over 30 pips while my main trade platform was as 4 pips and my backup was at 10. The thing that bothered me then it would go to 10 pip spread and a minute later it was back up at 30 pips again. This seems pretty shady to me.
This broker used to be good, but now probably has the highest spreads in the business. Since they changed management they are not cost effective to trade. I have moved to another better broker. Pros: - Nice platform (although a little slow) - Fast fills Cons: - HUGE SPREADS on FX and CFDs - Slippage in fast markets - Price feeds are occasionally delayed fractionally(which works against you) - Did I mention MASSIVE spreads during news and also when there is no news? Conclusion: Go elsewhere.