Gone are the days when you had limited access to trading platforms? However, such a variety leads to a lot of confusion and indecision. Moreover, it becomes even more difficult to choose the right trading company and platform to fulfill your trading dreams. When it comes to trading, Oanda is one of the most trusted names in the digital world. Hence, this article gives a detailed Oanda Forex review so that you know why you must go with it.
However, before you get in-depth, make sure you first learn about the Oanda Forex trading company. Further, know about its technical specifications so that you know what you are stepping into. So, make sure you check out the Oanda review in 2022. Keep reading.
Oanda Forex Trading Platform: A Brief Introduction
Oanda is an acronym that states the name of the company. It could be written as ‘Olsen & Associates’ or ‘Olsen and Associates’. Even though the company is registered in the United States, it serves throughout the world. So, no matter where you live, you can avail of all the financial services offered by Oanda company.
Oanda came into existence in 1996 and works under the jurisdiction of the UK Financial Conduct Authority (FCA). For further Oanda forex reviews’ significance, this financial trading platform has numerous awards and credits awarded to it.
Moreover, the UK Forex Awards even awarded Oanda financial company as one of the ‘Best Forex Trading Technologies’. Not just that, it even received the title of the Best Trading Platform’ by FX Week. US Foreign Report stated it as the ‘Best Customer Service’.
Oanda Review: Important Points
With all the general ideas about Oanda company, you must also know about its technical specifications. Therefore, don’t forget to get through each point with utter depth.
- You can invest in different currencies available at the Oanda trading platform. It works with USD, SGD, HKD, and EUR.
- As you can see, the availability of different currencies makes it easier for you to invest and trade.
- When it comes to the minimum deposit, there is none.
- You are free to use the platform without keeping any minimum deposit in your Oanda Forex account.
- Leverage is important. Therefore, you can avail of the offer that ranges from 1 to 200.
- That means you can take leverage up to 200 times your available deposit.
- Different instruments like FX, Indices, Crypto, and Bullions are available at your disposal.
- To save you from losing your funds, you get a Stop Loss of up to 50%.
Note: Oanda company closely works with different accounts that are operated and opened through the Traders Union website. Hence, the Oanda forex review hints it has some sort of collaboration with the Traders Union.
Pros & Cons of the Oanda Platform
Deciding whether or not to use Oanda company for trading could depend on the following points. So, without wasting any single second, check out the pros and cons of using Oanda Forex company.
- Since there is no minimum deposit, you can start with even 1 Dollar.
- The availability of numerous trading instruments makes it one of the best trading platforms.
- Finance regulators make it safe for everyone across the globe.
- A little stuttering functioning of the website could bother you.
- Leverage is pretty low in comparison to other online trading platforms.
- Bonus programs are not so appealing that could disappoint you over time.
To conclude the Oanda forex review, it can be said that in general, this could be a great trading platform. Especially for people with a low deposit, it could offer what you need. Moreover, the availability of experienced finance regulators ensures your safety. Therefore, you must give it a try to trade online for any instrument you want.