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Oanda.com Review

Overall Rating: (2.944)
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Total Reviews: 399
Last Updated: 2016-02-04
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FPA Review Moderation Team, USA

Rating: No Rating
Date of Post:2007-07-04
Review: We haven't tried a forex trading account with Oanda.com. If you've traded forex with this broker, please leave a review here.

Chris John, Singapore, Singapore

Rating:
Date of Post:2016-01-30
Review: 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.

Norman Manzon, Hawaii, USA

Rating: No Rating
Date of Post:2015-11-27
Review: 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.

Antonio, Puerto Morelos, Mexico

Rating:
Date of Post:2015-11-21
Review: 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..

Rob, Ohio, USA

Rating:
Date of Post:2015-11-02
Review: 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.

Jim, London, United Kingdom

Rating:
Date of Post:2015-10-19
Review: 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.
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FRANCOIS LE FEVRE, DUBAI, United Arab Emirates

Rating:
Date of Post:2015-10-13
Review: POOR they asked me so many papers to open an account during 2 months and finally they refused to open my account, ridiculous
after 4 years of training account.
so I open with fxpro it took 10 minutes.....

Mr H, Dublin, Ireland

Rating:
Date of Post:2015-09-01
Review: Here is my review of OANDA:
> Platforms: 4.5 stars
> Pricing: 3.5 stars
> Customer Services: 5 stars
> Features such as Currency variety, API, News Services: 5 stars
<> Overall Score: 4.5 stars

Other Issues:
> FCA regulated in the UK and other countries
> Allow trading of as low as 1 unit on FXtrade Platform
> Financial Stability and one of the oldest FX brokers in existence
> OANDA is a Market Maker so there is a conflict of interests with its clients
> No swap free accounts

I am not affiliated with this broker. I just have a live account with OANDA Europe Division for about 3 months at present.

Harry Johns, Melbourne, Australia

Rating:
Date of Post:2015-08-28
Review: Oanda are probably one of the most expensive brokers out there and also one of the worst. I tend to judge brokers on their conduct when making a withdrawal. Firstly they charge an excessive fee of $20 simply to withdraw your own money and then the delaying tactics begin.

Once a withdrawal request has been made they will sit on it for days, then they will send an email saying they need documents. After you have provided the requested documentation, which is absurd anyway, they will again do nothing. After some days have passed and multiple enquires have been made, again nothing happens! All throughout the process they are telling you everything is fine and that you have nothing to worry about.

For me I am reporting them to the authorities as I believe they are employing delaying tactics to hold onto peoples funds. I'm disappointed that even under so called regulation these organisations are allowed to exist.

David, MIchigan, USA

Rating:
Date of Post:2015-07-02
Review: Not at all easy to get you money out of your account. Plan on spending a lot of time trying and a lot of frustration and being asked for the same information more than once. I am on the lookout for another platform.
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