OANDA Review 2026
Trusted pioneer of online forex since 1996
Min. deposit
$0
Max leverage
1:200
Spread from
0.1 pips
Platforms
Proprietary, MT4, MT5
Our score
Excellent
Visit BrokerCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 70% and 85% of retail investor acco…
Our verdict
OANDA is one of the safest forex brokers available and one of the few serving US residents. It is ideal for traders who value transparency and data, though the product range is more limited.
Best for: US traders & API trading
OANDA at a glance
OANDA is one of the original online forex brokers and is regulated by top-tier authorities including the CFTC/NFA, FCA and ASIC. It is known for transparent pricing, excellent data and no minimum deposit.
Rating breakdown
Weighted scores from our broker methodology
Pros and cons
Pros
- Regulated in the US and other tier-1 regions
- No minimum deposit and flexible unit sizes
- Excellent charting, data and API
- Transparent, consistent pricing
Cons
- Smaller product range than multi-asset brokers
- Leverage limited in most regions
- Bank wire withdrawals carry fees
Key facts
- Founded
- 1996
- Headquarters
- New York, USA
- Minimum deposit
- $0
- Maximum leverage
- 1:200
- Spreads from (EUR/USD)
- 0.1 pips
- Commission (raw / ECN account)
- $5 per $100k on core pricing (some regions)
- Execution model
- Market Maker, STP
- Trading platforms
- Proprietary platform, MetaTrader 4, MetaTrader 5, TradingView, Mobile App
- Markets
- Forex, Indices, Commodities, Metals, Bonds, Crypto
- Number of instruments
- 120+
- Regulators
- NFA/CFTC, FCA, ASIC, CIRO, MAS, JFSA, FSC (BVI)
- Restricted countries
- Iran, North Korea
- Deposit methods
- Bank Transfer, Credit/Debit Card, PayPal
- Withdrawal processing time
- 1–3 business days
- Support hours
- 24/5
- Website
- oanda.com
Account types
| Account | Min. deposit | Spread | Commission | Leverage |
|---|---|---|---|---|
| Standard | $0 | From 0.8 pips | None | Region-dependent |
| Core pricing | $0 | From 0.1 pips | $5 per $100k | Region-dependent |
Is OANDA safe and regulated?
OANDA is authorised by 7 financial regulators: NFA/CFTC (United States), FCA (United Kingdom), ASIC (Australia), CIRO (Canada), MAS (Singapore), JFSA (Japan) and FSC (BVI) (British Virgin Islands).
This includes tier-1 oversight from NFA/CFTC, FCA, ASIC, CIRO, MAS and JFSA — among the strictest regulators in the world, with capital requirements, regular audits and client-money rules.
Client protections include segregated funds and negative balance protection.
Note that OANDA does not accept clients from Iran and North Korea.
NFA/CFTC
National Futures Association / CFTC · Tier 1
FCA
Financial Conduct Authority · Tier 1
ASIC
Australian Securities & Investments Commission · Tier 1
CIRO
Canadian Investment Regulatory Organization · Tier 1
MAS
Monetary Authority of Singapore · Tier 1
JFSA
Financial Services Agency · Tier 1
FSC (BVI)
Financial Services Commission · Tier 3
Fees, spreads and commissions
Spreads at OANDA start from 0.1 pips on EUR/USD, while the typical spread on the standard account is around 1.4 pips.
Commission on raw or ECN-style accounts: $5 per $100k on core pricing (some regions).
The minimum deposit is $0 — there is no minimum to open an account.
Funding fees: One free card withdrawal per month; wire fees apply.
Trading platforms and markets
OANDA supports Proprietary platform, MetaTrader 4, MetaTrader 5, TradingView and Mobile App.
Advanced traders benefit from expert advisors and algorithmic trading and api trading.
You can trade 120+ instruments across forex, indices, commodities, metals, bonds and crypto.
Execution model: Market Maker and STP.
Deposits and withdrawals
Supported funding methods include Bank Transfer, Credit/Debit Card and PayPal.
Withdrawal processing time: 1–3 business days.
Accounts can be opened in USD, EUR, GBP, AUD, CAD, CHF, JPY and SGD.
Customer support
Customer support is available 24/5 via live chat, email and phone.
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OANDA FAQ
Is OANDA regulated?
Yes. OANDA is regulated by NFA/CFTC, FCA, ASIC, CIRO, MAS, JFSA and FSC (BVI).
What is the minimum deposit at OANDA?
The minimum deposit at OANDA is $0.
Which trading platforms does OANDA offer?
OANDA offers Proprietary platform, MetaTrader 4, MetaTrader 5, TradingView and Mobile App.
Does OANDA offer Islamic (swap-free) accounts?
OANDA does not list a dedicated Islamic account at the time of our review.
How long do withdrawals take at OANDA?
Withdrawals at OANDA are typically processed 1–3 business days.
What is the maximum leverage at OANDA?
Maximum leverage is 1:200, depending on the entity, account type and your location. Retail clients in the UK, EU and Australia are usually capped at 1:30.
Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 70% and 85% of retail investor accounts lose money when trading CFDs. Consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.