I've been trading for about five months now, and Oanda is the only broker I've used.
Pro's:
- no deposit/withdrawal fees as long as you do both by check
- The demo platform behaves in exactly the same way as the actual one
- lot sizes as small as $1
- fast execution
- never had a problem with stop-loss or take-profit order execution; always happens at exactly the level I specify
- very good spreads
- not a bucket shop, Oanda is actually a legit online broker
- customer support has been good
- adequate indicators
- graphical representation and click-and-drag movement of orders, stop-losses, and profit-taking levels is a real plus for me
Cons:
- had one issue with slippage; an order was filled when the price clearly should not have triggered it
- on one order had bigtime slippage (actually in my favor, but it could easily be against me next time)
- pivot point indicator is nonsensical; you cannot specify the start and end of the day for calculation, nor can you get daily pivot lines to persist on any chart other than the daily one
- can only make one withdrawal per month without fees (annoying)
Headquarters:140 Broadway, 46th Floor, New York, NY 10005
Country: United States
Regulated by: CFTC, NFA , MAS, FSA, IIROC, DFSA
Branches:
OANDA UK
OANDA Japan
OANDA Asia Pacific
OANDA Middle East
3.2
3.8
Account Details:
minimum deposit: $1
minimum contract size: $1
max leverage: 1:50
Spread:
Variable, from 0.8 pips on EUR/USD
Dealing:
Deposit/Withdraw
Bank Wire, Credit card, PayPal
Platforms:
Metatrader, FxTrade (Java), iPhone, iPad, Android, Blackberry
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