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Oanda.com Review

Overall Rating: (2.939)
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Total Reviews: 402
Last Updated: 2016-07-27
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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.

Al Valcárcel, Sonora, California, USA

Rating:
Date of Post:2016-07-27
Review: 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.

Lyle Harriett, Arizona, USA

Rating:
Date of Post:2016-06-18
Review: 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!

Alex, Moscow, Russian Federation

Rating:
Date of Post:2016-04-24
Review: 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.

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.
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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.

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.....
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