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Oanda Review: Oanda FX  real spread on MT4

RATING: 3.8 / 53 REVIEWS ForexBrokerz OANDA


OANDA real time & average spread

Real time spread
Average spread
For the last hour
Min spread
Max spread
Swap long: n/a
Swap short: n/a
Stop/Limit level: n/a

Trading Accounts


Account type Minimum deposit Minimum trade size Maximum leverage Avg.Spread 
Standard $ $1 - 1:50  1.4 pips on EUR/USD, variable


There is only one standard type of trading account at OANDA. On the one hand, this limits clients’ choice; on the other, it means that all account holders are treated equally.

To make things even better, this broker doesn’t require any minimum deposit, nor minimum trade size. However, you need to have at least $1 in your account balance in order to initiate a trade.

The Company

OANDA is one of the pioneer online forex brokers. Established back in 1996, It is now a large group with offices in Toronto, San Francisco, New York, London, Singapore, Tokyo, and Sydney. ALL group companies are duly regulated by the relevant authorities in the US, Singapore, Canada, the UK, Japan and Australia.

OANDA offers Internet-based forex trading and currency information services to both retail and institutional customers. The broker is a market maker, having one of the largest currency databases in the world. Its product portfolio includes forex, index, commodity & bond CFDs, as well as precious metals.

Security of Funds

OANDA Corporation is a registered Futures Commission Merchant and Retail Foreign Exchange Dealer with the Commodity Futures Trading Commission and is a member of the National Futures Association.

Brokers that are registered with the NFA are obliged to comply with an extensive set of rules. Unfortunately, these rules are often limiting from traders' point of view, but there is no way around them. For instance, hedging is not allowed and leverage is limited to 1:50, while European brokers are free to provide leverages up to 1:1000 or even higher than that.

Besides, NFA-registered brokers are required to maintain a net capital of at least $20 million to guarantee customers’ positions, which makes them super safe to invest with. Similar minimum capital requirements apply in most jurisdictions, for instance UK-based brokers are obliged to hold at least 730 000 EUR in order to prove their financial stability, and Australian ones must possess a minimum of $ 1 million in order to operate legitimately.

All OANDA Subsidiaries, including OANDA Asia Pacific Pte. Ltd. (Singapore), OANDA (Canada) Corporation ULC (Canada), OANDA Europe Limited (UK), OANDA Japan Inc. (Japan) and OANDA Australia Pty Ltd. (Australia) are duly licensed and regulated by the respective bodies.

Trading Conditions

Minimum Initial Deposit

OANDA has no minimum deposit requirements for opening an account. This makes it attractive for risk averse or inexperienced traders who are not willing to invest a large amount of money.

Most brokers require a certain minimum initial deposit in order to cover the costs related to opening a new account. For instance, demands $250 from its clients to start with, and FXCM - $50.

Average spreads & Commissions
This broker offers variable spreads, the average ones on EUR/USD amounting to 1.4 pips, which is on the upper end of average. Clients, however, take advantage of commission-free trading, as OANDA doesn’t charge any commission for their trading services, nor any account maintenance fees. Instead, the broker gets its remuneration through the spread.

In comparison,, also a global FSA-regulated broker and market maker, offers average spread of 1.8 pips on EUR/USD and also charges no commission fees. You may look up real-time spread of 15 leading brokers here.

Maximum Leverage
OANDA offers a maximum leverage level of 1:50 on FX products, which is quite low, however, the broker has no choice, since US regulator has set a limitation on leverage ratios. CFTC limits leverage available to retail forex traders in the United States to 1:50 on major currency pairs and 20:1 for all others.

If you need higher leverage, you can pick a broker, who offers leverage ratios of 1:500 and exceeding 1:500 from this list. We advise traders to exercise caution when using higher leverage levels, for such rates may not only multiply their earnings on a small deposit, but also lead to heavy losses in excess of the initial investments made.

Trading Platforms

Oanda provides its clients with a choice of threetrading platforms: its custom-made fxTrade, Protrader Multi-Connect (PTMC) and the popular MetaTrader 4.

fxTrade comes in desktop, web and mobile versions. It has a simple, yet effective interface, and what is more important – superb execution speed. According to OANDA`s website, this platform executes 98% of trades within 0.057 seconds or less, which is super-fast.

Furthermore, fxTrade is equipped with intuitive and powerful charting features, multiple sub-accounts to test different trading strategies and financial news and market analysis from leading news providers.

We presume that fxTrade is aimed mostly at new traders, since it has all the usual functionalities, but more advanced features are missing.


Oanda`s proprietary  fxTrade. Click to enlarge.


Oanda recently added to its platforrms line up Protrader, developed by PFSOFT. Protrader offers everything regular forex trading platforms do: Advanced charts and technical analysis, indicators, various order types, customization options, and auto trading options. In fact, Protrader has created AlgoStudio - a professional algorithmic strategy development tool. It enables users to test different types of data aggregation: time, ticks, range, Renko, LineBreak, etc.


In addition, Oanda offers the powerful MetaTrader 4, which is highly regarded by the online trading community mostly because it allows users to fully automate their trades. By choosing from a wide range of Expert Advisors (EAs), traders may sit back, while the program does all the work. What is more, it offers a number of technical indicators, extensive back-testing environment and advanced charting package. Here is a list of more forex brokers offering MT4 platform.

In addition, fxTrade bridges directly to MetaTrader 4 using custom-built technology, which we find useful.

Methods of Payment

OANDA offers its clients various methods to deposit/withdraw funds to and from their accounts. They vary, depending on the OANDA division of registration, but the main payment modes are debit/credit card, bank wire, checks, PayPal and UnionPay.


OANDA is a leading global forex broker, offering online trading in a wide range of currency pairs, CFDs and precious metals under attractive conditions. To sum up the above, here are the advantages and disadvantages of this broker:


Pros  Cons
Variety of platforms offered  Market maker
Mt4 available Low maximum leverage
No initial deposit required  
No minimum trade size  
No commission and account maintenance fees  


Latest news about OANDA All news
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
$100 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for OANDA


* All times are GMT. The time now is hh:mm


Our SpreadMonitor is designed to scan OANDA quotes tick by tick and to provide you with unbiased information about average, minimum and maximum spread for the last hour, day, week and month. 


At the present moment we are able to provide spread data only  from OANDA MT4 account. According to OANDA the spreads on its fxTrade platform are the same. 


Although spreads are an important factor in choosing a forex broker, you also should take into account commisions, slippage, regulation and broker's reputation.  


Slippage is the difference between the price you’ve placed your market or pending order at and the price broker have executed it at. Our slippage data is sampled from over 1000 real accounts, following the top 10 Zulutrade signal providers. Unfortunately Oanda is not among Zulutrade's partners and we can't provide you with unbiased info on its slippage. 


Although OANDA is a market-maker, during volatile market your orders may be filled with positive as well as with negative slippage. 


Keep in mind that slippage may vary from trader to trader, depending on trading style, liquidity during the time of day when orders are executed, server location, network lag etc. Trading during volatile market (e.g. news releases) and low liquidity times (e.g. pre-Tokyo open Asian session) can lead to excessive slippage. To find our what is the slippage on your own trades with OANDA or any other MT4 broker, download our free EA.


Oanda doesn't requote - all market orders are executed at first available price.

Price feed


Oanda is the only major forex broker with price feed running 24/7. During weekend spreads on EUR/USD widen up to 10 pips, but you still can open or close a trade if you need to.

Some traders complain of stop hunting. Trading with a market maker, taking the other side of your trade, involves certain risks. 




fxTrade is the Oanda's in-house developed web based platform, accessible from all popular browsers. Mac and Firewall friendly solution.


Benefits of using Oanda fxTrade

- One click dealing - get your trades executed automatically and settled immediately with a single click

- Slippage control - prevent unwanted order execution in volatile market 

- Trade from the chart - manage stop losses, take profits, and trailing stops directly from the chart

- Hot Keys - use keyboard shortcuts to trade and manage your positions

Oanda fxTrade is available in the following languages: English, Chinese (Simplified and Traditional), Japanese, Spanish, German, French, Italian, Japanese, Korean, Portuguese and Russian.



Back in January 2011 OANDA launched Metatrader 4 (MT4), the world's most popular third-party trading platform, developed by Metaquotes Corp. OANDA MT4 is bridged directly to fxTrade, so you can access your account with OANDA using both platforms and the same login and pass.


Benefits of using FXCM MT4

- No trade restriction - no restrictions on placing SL, TP or pending orders. Micro lot trading is available. Scalping is allowed. 

- Build and backtest your own automated trading strategies. 

-       No requotes. Ever.


WARNING: OANDA is experiencing delays in the MT4 server which is supported by MetaQuotes. Order processing may take up to 5 minutes, which may lead to massive slippage. Both companies are still working to get the issue resolved. 

In order to avoid execution problems we recommend you to use Oanda fxTrade platfrom.




Bank Wire


Bank Wire



Customer service

Oanda customer sevice reps are available 24/7 and always ready to help. 






Low Spreads

24/7 Trading 

1$ minimum deposit

1$ minimum contract size

Regulated by NFA and CFTC

Spread widens up during news releases

Order execution delays on MT4 platform





Oanda is a video game not a forex company

Oanda is a video game. I came across this recently. It is from Oanda


The caps aren't mine. What this means is the data you've been analyzing and charting on their platforms has no relevance to real market data. They make that shit up stop you out any time you are close to slf , delay execution if you are going to win and "if you are using your own homegrown system for generating buy sell moves and winning they will hack you to steal your product.

Since they are not conducting business on a forex exchange they should not be called a forex company.

rwj 03/06/2018

Maximum Spreads

To talk about average spreads and not mention maximum spreads is misleading. A trader needs to know both, especially when spreads can blow out to hundreds of pips on major pairs. For example AUD USD spreads on Oanda's platform today (6 February 2018) blew out to over 243 pips. A trader must have a strategy to deal with this, not just the average spread which, of course, are way lower. And you must ask; how do other brokers max spreads compare.
I traded with Oanda for more than a decade and records for maximum spreads keep being broken, which make it very hard to effectively use stops in a risk management system.

Matthew Riba 02/06/2018

Oanda Class action

OANDA falsely advertises low and competitive spreads and no commission,
There is a court class action in preparation for this and other deceptions and overcharges.
Those who want to join this class action please contact:

Tony 07/24/2017

Brokerchooser Oanda review

+fast account opening
+lower spreads on Premium account
+great compliance with regulation
+customer support

-lack of equity CFDs
-fxTrade platform quite poor

Brokerchooser 05/30/2017

transparent pricing & great trading options

I have been trading with Oanda for a couple of months now using both demo and live accounts. After much training, including reading and testing strategies, I am beginning to profit and have had no problems with this broker so far.

The only problem I found with Oanda is their MT4 platform, which I find quite sluggish, so I don`t recommend anyone to use it.
Here is another piece of advice: If you are watching your TP/SL lines during a quick trade, be sure to switch your chart to the bid or ask prices (from whatever it was, candle, line or otherwise), as that will show you more accurately when the market candle will hit your line and either tap you out or take a profit.
In my opinion, OANDA offers transparent pricing, great tools (Guppy alerts & Autochartist) and great free tutorials on their website. So I recommend them to both newbies and experienced users.

Jakob S. 07/04/2016

I do not recommend it!

I applied for a live account, send some documents and everything seemed fine until I decided to register using cahbackforex link to get some rebates for my trades. I asked my account manager about this service, but she and the whole support team ignored my requests several times. In the end thy told me that they will not discuss this issue and I must solve the problem on my own.
When I sent them the scanned original copy of bank statement with all the stamps and signatures of my bank, my account manager told me that I need a "true copy" stamp and they will not accept the one I’ve sent them.
This is how my trading with OANDA UK finished before it has started.

John T. 07/04/2016

your money is safe

I`m not sure why so many small brokers rate better than Oanda. This broker offers all that others do, plus the comfort of knowing your money is safe with this well capitalized global group. Yes, they are a market maker which causes them to have high spreads once in a while, but safety of funds is crucial in uncertain times.
Oanda is a regulated broker in various jurisdictions, that has set no lot size and no minimum deposit requirements, and besides you can use several different platforms, Meta Trader 4 included.

Olga F 07/04/2016

Oanda review

Oanda is very old and reliable broker, with many licenses. That’s why I opened an account with them. A lot of interesting services and good pack of instruments. But when I started trading I faced a lot of problems: sometimes my SLs was removed, spreads are often higher then must be.

Andrew 05/03/2016

I left Them

Yes, After many bad trades caused by Huge Slippages i have closed my trading accounts with them.

Now i am trading with FXGROW who are very good ECN Brokers and have good trading conditions for us.

Mikhail Volkov

Moscow, Moscow City Russian Federation

Mikhail Volkov 11/16/2015

Deteriorating service

I have an account with Oanda Australia for about 10 mos. now.
I also use to have an account with Oanda Singapore for almost two years. Their service have deteriorated for the worst.

-easy to open an account especially if you submitted all required
-you can trade minilots and with only a small amount of capital
-easy withdrawals and deposits
-If you email them regarding any issues they will answer promptly

-Connectivity- Issues with connectivity is a headache and a nightmare. You simply cannot trade during news events and even during non news event. If there is large price fluctuation expect to be disconnected from their platform. You can be disconnected numerous times in a day and sometimes for more than 4 hours at a time. Yes this happened for more than a week now. It used to be that they will disconnect you only during news events that will last only for several minutes. Not anymore! If you are a scalper, forget it. You will not be able to access the fxtrade desktop and web platform. Even then, if you are lucky to be connected to the platform, the charts will not be displaying. Troubleshooting and updating your java, browser, etc., will not solve the issue. Even contacting your internet provider will not help because it is in their end. You just have to wait until it came back which is several hours later with your account already close if you are unlucky.

-Quotes- Beware, there is a large variation between oanda’s quote and current market. Always compare oanda’s quotes with other broker or charting websites. This is especially true with energy instruments and one index that I follow. Quote variation can be 60-100 pips sometimes or more. This is very apparent for NGAS, oanda is showing a max price of 2.25 for daily while in one broker and other charting website it is around 3.5-3.7 for the Oct 27-29 quotes. I asked them for clarification and they give me an explanation about interest and finance charges and other computations that did not really answered my questions. They cannot explain how they have substantial downward price swing while others are showing substantial upward price swing. I’m still waiting again for their reply. For currency pairs there is not much difference in quotes from what I have noticed. Always have screenshots for proof.

-Customer Service- A pop-up message in Live help will display nonavailability because it is not business hours when in fact you are contacting them during business hours. It will entail several tries before that change from not available to an available agent.
Do not trade with this broker. Definitely not for scalpers. If you are always disconnected, how can you trade?

Iris 10/30/2015

F**K OANDA they Charged me instantly 40 PIP SPREAD

I took a 1 lot trade with Oanda and they Charged me 40 PIP spread on NZDUSD ... IF you go on there website it shows you there spread history and its a JOKE it says AVG Spread during news is 5.5 pips ... if you click Max spread you will see they charge 8x that amount ... 40pips right off the bat that's $400. I lost $400 in .01 seconds.

BEWARE if you use them!!! and don't trade during news with these a-holes

Adam M 10/30/2015

Stop Loss Hunting or What ?

Just to say that Oanda hunt stop losses

Check both images

Jorge Garza 01/16/2014

OANDA is great for beginners

I have had a long and successful run with OANDA and consider them to be one the most reliable Forex brokers on the market. Their platform is excellent for newbies – it’s user friendly and offers a flexible position size. The customer support is always friendly and helpful..

I give them 4 out of 5 stars because of the wide spreads on the weekends and the relatively low leverage; apart from that, I recommend OANDA to all beginners and more advanced traders.

Oren 06/25/2012

ace lu - las vegas

Chat InformationPlease wait for an agent to respond.
Chat InformationYou are now chatting with 'Eileen'
Eileen: Thank you for choosing OANDA. How may I help you?
ace lu: ticket #921628339
ace lu: stoploss of 1.30955 should not be hit
Eileen: For your security, before I can continue I will have to ask you your security question.
Eileen: What is your mother's maiden name?
ace lu: the highest price was 1.3084 after last friday's closing
ace lu: ******
Eileen: Thank you.
ace lu: i've been monitoring fxcm and esignal and they both confirm my claim
Eileen: One moment please whille I retrieve your account information.
ace lu: even with oanda's wide spread during weekend it still should not have hit 1.30955
ace lu: with ticket 921127646 i changed stoploss from 1.30905 to 1.30955
ace lu: oanda's own hourly chart shown 1.30842 was the highest price
ace lu: i firmly believe esignal's price is the collection of all prices from the world and it shows 1.3084 was the highest
ace lu: [after noon of last friday pacific time]
Eileen: Thank you for waiting.
Eileen: I have taken a look at your stop loss.
ace lu: thanks
Eileen: I can see that your weekend data is hiden.
ace lu: my data feed is esignal. i use ensign windows for analysis
Eileen: Can you please allow your trading platform to show weekend data? You should be able to see that the High Ask price during the time that your stop loss was triggered was at 1.30969.
Eileen: OANDA is a market maker. We may not offer the same prices as the other brokers.
ace lu: i don't see any weekend price on esignal close to 1.30969. you mean oanda can hunt stops at will during weekend regardless esignal's (world prices collection) 'official' prices? then i would be speechless...
ace lu: i will definitly publish my story on every fx review sites as i can.
ace lu: thanks
Eileen: We do not hunt stops.



ace lu 04/16/2012

Bottom line: Oanda is still a bucketshop

Basically I'll just confirm what most others have already written: Oanda has good execution and some nice features, but their spread widening that happens so frequently takes them from being a potentially excellent broker to being clearly below average.

Spreads widen not just at news. Even when there's no news, if even the slightest hint of volatility appears in the market, spreads immediately double or triple, and stay that way for a long time. Often for a good 20-30 minutes or more. Of course their spreads at news are patently ridiculous of course, but again, I'm not even talking about news; just regular trading.

Bottom line Oanda is still a bucketshop. They make money when you lose. They (or anyone else) can try to spin doctor that fact any way they choose, but it doesn't change anything.

Bob 09/28/2011

I have never had any issues with Oanda

I've had a trading account with Oanda for about 8 years and have never had any issues with the system or the company. Compared to all brokers I've dealt with Oanda is the my favorite.

mishka miros 09/07/2011

Oanda Singapore: I was stopped out 10 pips away from the market

I opened an account with Oanda Singapore. Initially spread was quite good, but when economic news hit the wire, spread goes wild and my stop loss was wiped out. I was stopped out 10 pips away from the market!!!

Besides Oanda's FXTrade platform disconnects very frequently.

MJY 08/07/2011

Oanda stopped me out 14 pips above the daily high

I'm trading with Oanda for a couple of months. Last week I went short and placed a stop loss. For my surprise my SL was hit 14 pips above the daily high!?!

I checked my account with FXDD and FXCM too.. there is no such price for that day.

Mr. Singapore 08/04/2011

Oanda's spreads are unusually high even during high volume

Oanda used to be a good broker no so long ago. Now spreads are unusually high even during high volume.

Interest rate payout of some high yield currency pairs was changed, not in traders favor of course.

Used to like them, now moving accounts to other brokers. Use ECN forex broker and stay away from OANDA.

Rona 08/03/2011

Stick to ECN forex brokers and avoid market makers like Oanda

Oanda is yet another bucket shop that is running a dealer desk to get people out of there money. They widen the spreads up to unbelievable amount during economic news and hunt stops.

Stick to regulated ECN forex brokers and avoid market makers like Oanda, because they wont be happy if you end up making any profit off them.

Stay Away 07/02/2011

Oanda's GBP/USD spread widen up to 30 pips during news

I went short GBP/USD twice during news releases and twice the spread went from 7 up to 20 and even 30 pips!

I talked to Oanda's support regarding their increase in the spread during news releases and all I got from him was "market condition"!

All forex brokers are dealing with the same market conditions and of course they increase the spreads but they don't double or even triple it!

Drida 06/27/2011

Oanda Fxtrade platform sucks but they have MT4 now

I originally started trading forex with Oanda. I left them because their fxtrade platform sucks. Having tried several forex brokers (all of them STP forex brokers, BTW) and I'm going back to Oanda.

Oanda launched MT4 and they're honest. What you see is what you get, period.

Oanda's spreads are very tight, no commissions charged and unlike all other brokers I've seen, Oanda pay interest in real time.

Believe me, put on some carry trades (buy high yield currency vs. low yield currency, eg AUDJPY) and you will earn interest plus the profit from the trade! That's how big guys make money in forex!

Max NY 06/01/2011

I love trading by MT4 on Oanda's spreads

Oanda is the best forex broker out there. Spread are low, trading platform is stable and support guys are very friendly.

You can choose between MT4, Fxtrade and Android trading platform. I love trading by MT4 on Oanda's spreads.

Bahel 05/27/2011

Oanda's Android app disconnects all the time

I have been trading with Oanda for 5 years, since 2006. I have blown my first forex accounts with Oanda mainly due to lack of experience, trading capital and discipline. I get over it and I make good money trading forex.

I have fund my account several times, made several withdrawals, chatted many times with Oanda's support and all I can say is that Oanda is a reliable forex broker with very good trading conditions.

I have only two complaints:

1. Oanda's Android app disconnects all the time

2. It's difficult to send and withdraw money since my account is in Mexican pesos. Moving money between MEX and the GBP is expensive and slow.

Mexal 05/04/2011

I made some money and Oanda's screens start freezing up

Just when you have made some money Oanda's screens will start freezing up.
You will try to close a position and there will be no response from pusing the button. You will try and try. Then you will get disconnected from your account.

You many or may not be able to log in. With my account the charts would freeze up and the data would be matched up with the wrong chart.

They will then tell you it is ONLY YOU.

I could not place trades at critical times as the data and the chart did not match up. I could not see the 5 sec or 10 sec or 30 sec or 1 min screens. The only screens that were operable were 15 minute or 30 minute.

The thing is the Oanda people act professional. But if you ask them pointed questions they will always manage to change the subject.

You will never get your money back becuase they will tell you you have a bad internet connection even when you can access every other account on your computer EXCEPT YOUR ACCOUNT AT OANDA.



Forever21 05/03/2011

Oanda's spread widen up to 15 pips while dbFX's only to 5 pips

I've used Oanda on test basis and one comment I want to add is that during news breaks (medioum to high FX Calendar events) their spreads wided unto 10-15 pips.

During the same period DBFX only went to 4-5 pip range.

Sonny, DailyForex 04/04/2011

I sent money to OANDA on the 16th, now is the 24th...

I sent money to OANDA on the 16th, now is the 24th and my money is not in my account, nor has been sent back to my bank. I filled complaints with CFTC and NFA, I hope to see my money back, but I would not suggest to anybody to use such a dodgy broker

Luigi 03/24/2011

Oanda's only disadvantage is the lack of hedging

Here is my review:

Demo Accounts

The Oanda demo account is virtually identical to the live account. The price feed is exactly the same as the live account and demo accounts never expire.

Customer Service

Oanda provides customer service by email, chat, and phone. Oanda seems to typically be responsive to request for service via any of the 3 methods. Emails sometimes take up to 24 hours to be returned depending on the issue.


Oanda provides variable spreads, which means that spreads can change depending on market conditions. Most of Oanda’s spreads are extremely competitive during normal market conditions. The only time that the spread jumping will usually prove to be a problem is if you are trading directly around a major news release. For example, the EUR/USD typically trades with a spread of 0.9 – 1.9 pips under normal market conditions. During a news release the spread for the EUR/USD can go as high as 10 pips.


Oanda only allows 50:1 leverage. Many traders might consider this a disadvantage, but I consider it to be like selling a gun with a safety on it. 50:1 leverage is sufficient for forex trading. Leverage set at 100:1 and higher can be dangerous and cause you to make oversized trades just because you can.

Least liked features

No hedging

John Russell, 03/18/2011

Oanda allows you to manage lot size, leverage and risk

Hi guys here's a bit of info for all you newbees out there, free of charge from a trader who actully knows what hes talking about, Not many of them here!

200:1 leverage is way to high especially if your forced to buy "set lot sizes" exp. FXCM used to MAKE you trade "set mini lots" if you had $5000 or less, but if you had >$5000 you would be forced to trade "full lots".

Why? Because if you could trade "mini lots" with $10000 then you could effectively diversify your total market exposure with more position while keeping the leverage risk to your account relitively low alowing you a chance to make money, so another way to use leverage effectively is to include the ability to manipulate the "lot Size" thus making your overall market exposure more managable with respect to you account size, if you dont have any idea what am talking about you shouldnt trade.

Oanda allow you to manipulate the lot and leverage size, not many out there will allow that. Ok on to my gripes, i cant seem to find a way to execute a "one cancels the other" order n also id like to see a weekly chart and chats with no weekend break, dead bar are pointless!!

The Master, Goforex 03/12/2011

Oanda: 40 pip spread for GBP/USD during news

Hey guys. I have been trading with oanda for years and have always encountered a 15-20 pip spread for GBP/USD at major news release time (sometimes more, but very rarely). I have just come back from a long break and I am now copping around a 40 pip spread for GBP/USD. Anyone know if this has become a regular thing for oanda.

Also would like to here from guys using ecn/stp systems if they have whitnessed increase spreads of this magnitude for GBP/USD lately, or is OANDA starting to take the piss a bit?

As far as I have noticed, EUR/USD is still generally 10 pips at news time, same as it always was.

Cheers guys

Agro, 02/03/2011

I've experienced several price spikes and tripped stops with OANDA

Hello, I have experienced frequent service interruptions trading with Oanda for the past year.

Also, I have experienced several price spikes and tripped stop losses.

After numerous incidents I decided to look on the BBB web site to see if any complaints have been filed. A couple complaints have been filed

Evan, EarnForex 10/27/2010

Oanda will cheat you if they think they can get away with it

I've had more than 20 Futures Forex brokers over 25 years. Oanda is my most recent Forex broker.

They have a fairly reliable trading platform and I give this a good rating.

The integrity of the employees and the owner is lacking though; this weakens their position as a good Forex broker. They will cheat you if they think they can get away with it.

K, GoForex 10/17/2010

It takes just 3 days to withdraw money from my account with Oanda

I've used Оanda since may on a live account. at it took about two working days for my deposit to get on the account and when I need a withdrawal it to about three working days get appear on my bank account so far there reliable.

They don't advertise like others broker they allow their service to do the work for them.

I heard of them because of their low spreads and service Five stars from me although as i speak it's 8:30 on a Friday morning news has just been release and the server is down, I don't mind cause I let the market stew after news release any way

Michael, EarnForex 10/15/2010

Oanda's spreads and CS are great, but charting is poor

I have been trading with Oanda since July 2010, so 3 months after these are my inputs:

low spreads, no minimum deposit, quick service, good customer support (they did replied immediatelly to my complain), good range of news and market research supplies, some didatic issues for begginers with quality;

Negative: poor resolution charting (altough they have all main functions need for trading), quick and strong variability on spreads during news events.

I have no complains about honesty up to now.

Vitor, EarnForex 10/06/2010

Oanda allows PayPal transfer, my withdrawal was processed in 1 day

I have been using Oanda for 6 months now and have had no issues.

Their charts follow others and their spreads are good for a company that lets you deposit and withdraw with PayPal.

I also like how they have no minimum deposit, unlike most scams.

I researched them and they operate legally.

The best part is when I withdrew my money, it was processed by the next day.

If this changes I will be the first one back here to warn you.

Vann 10/05/2010

Oanda lets me trade with just $1. My hedging strategy likes it

From the perspective of one who has been fiddling around with trial FX accounts on and off for two or three years now I am glad I found Oanda. I had been reluctant to deposit $100 into a forex account in the past little lone as much as I just deposited recently. Thanks to Oanda letting you trade as many or as few units as you want rather than making you trade in either 10,000 or 100,000 units, I found a strategy based on hedging and the assumption that what goes in one direction will eventually come back in the other, that is working well. My strategy would be too risky when restricted to 10,000 unless I had 50 times the amount I am currently trading with, but the absence of such restrictions makes it possible for me to use the strategy.

The only annoyances I've had is that there are a couple useful features in the FX Game platform that aren't in the FX Trade platform. The fact these features are missing is rather minor, but I did find the features in the FX Game platform that allowed you to reset the Realized Profit/Loss statistic and the feature that listed how many items were under a particular tab without the tab needing to be active in the tables section of the main platform window rather useful in the FX Game platform.

Malcolm 08/28/2010

You should trade with an ECN, not OANDA... if you're a millionaire

I have been with OANDA since August of 2005. I usually don't care about rating a company unless it is Terrible or Excellent.

OANDA has gone through it's growing pains and are significantly better now then before. For those of you bashing this company, try going to'll find just as many and usually more problems.

There are two kinds of traders, amateurs and professionals. I find more often then not that the ones struggling to "make-it" in this business are the first to blame their tools.

If you have over million dollars to trade, you should be dealing with an ECN, not OANDA. If you are just starting out (breaking even/traded demo for at least a year), I would recommend having a few "live" accounts with several different brokers and test their trading in real money situations, test their withdraw methods and timeliness.

What you will find is OANDA is at the top of the list when it comes to which one you'd like to put the largest chunk of your money with.

Michael 05/24/2010

Oanda is a market maker so they actively trade against you

I have been with Oanda for more than a year.

Oanda is a market maker so they actively trade against their customers.

They actively hunt stop losses.

Oanda's trading platform freezes often. I have lost my connection to my trading account while trading and they told me that I was having internet connectivity problems even though I could get to other web sites and log in to my email without a problem. They also did not know that I used to be a network administrator before telling me that I was having internet connectivity problems.

Oanda is a highly manipulated environment. The correct term for this type of broker is a "Bucket Shop"

ECN brokers are the most free market breed of broker. They do not have a dealing desk that can be manipulated. ECN brokers want you to be successful because they make money when you make money. Oanda makes money when you loose. As time moves forward traders will opt for ECN brokers and market makers will go bust.

Gotin, GoForex 03/16/2010

OANDA is NOT a scam but will not hesitate to profit from your loss

I have used OANDA since 2006, and they are professionals. OANDA is NOT a scam. Actually, they have steadily provided additional services which I have found very helpful such as — the Global Transfer, the desktop platform etc. Every trader should plan to use more than one broker — please diversify!

But NOTE, every broker is there to make money and part of their income is your LOSS — that is the reality in any financial market. So it does not surprise me that OANDA servers "conveniently" crashes when the market moves rapidly; and it does not surprise me that OANDA suddenly limited allowable daily transfers to 20 from one account to the other; and it does not surprise me that they hunt traders' stops — believe me, every other broker does that.

Your job is to protect your investment; if you don't have solid plans to protect your trades, then get out of forex trading.

Summary: OANDA is a very good and professional broker and "market maker". They give you the tools to make money, but if you don't protect yourself, they will not hesitate to profit from your loss — and I think that's what every other broker does.


David, EarnForex 01/31/2010

Oanda's pros and cons

I've been trading for about five months now, and Oanda is the only broker I've used.


- 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


- 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)

yilomka, 11/22/2009

Oanda's Java platfrom instability has nothing to do with news

Reliable (95% but nothing to do with volume or news more natural instability of java), fast, scalable, start with as little as 1$ don't need to take more risk to enjoy !

SNBthetrue, 09/11/2009

Tight spread, fast execution, no requotes. Oanda is great!

Good, fast execution and I've never been requoted. Good platform to use - not as many indicators as some, but enough. Leverage only 50:1, so conservative. Terrific tight spreads. Also a terrific practice account that stays open as long as you like. I noticed no difference from the practice account and the real thing. Recommended.

Joe, 09/05/2009

I had problems opening a live account with Oanda

Charts are ok but often times goes down.

Tried to open live account after using their demo for a year and got nothing but problems. I faxed documents to them twice because they said it was too dark, BS. I then sent them a photo copy of my ID which they said was too dark. The photo was perfectly readable and clear.

Customer service couldn't pull their heads out of their butts with a crowbar.

Techy, 08/03/2009

Oanda is a good broker, but charts are utterly disgusting

Oanda is a good broker, but their charts package is utterly disgusting!

Miguel, Forexfactory 08/03/2009

Oanda is nothing but SCAM. They picked my stop loss 36 times in a row

Please, this is a scam. Do not open your account in the forex market period. Nothing but SCAM. The chart is fake. If you invest more than 5000 unit as they call it you will lose your shirt. SCAM SCAM.

When trading I realized after two weeks of trades weird things happening such as the chart I was basing my trades on was not reflective of the curent markets data. I will put 30 pips stop loss I got picked 36 times in the row. What is the odd of something like that happening? It happened twice last week. I will go back to check my works on the historical charts of 5mn and it does not reflect any event that has happened. Everytime I traded more than 10000 the market will change direction and go very fast in the opposite direction.

The updates of winnings dollars is slow to upadate when a trade is against them.We are not mad just desappointed to see that you will have company like that acting in such a manner and getting away with it. The account was closed last thursday to our surprise our bank account was credited properly. We were expecting something bad to happen. I was so amazed I decided to see if this company was legit. I googled it by asking. I was stunned to see that i was not loosing my mind. I intend to open another account but this time I will select a company with less problem and certainly not a market maker.

Jeremy, Goforex 08/03/2009

Oanda's FxTrade reconnects, lockouts, freezes, and delays quotes

I like Oanda's tight spreads and fast execution, but the charts/dealing platform are utter crap. It has constant reconnects, lockouts, freezes, and delayed quotes. I run Oanda along side 3 other charting packages and Oanda is the only one that gives me trouble.

I have seen my other charts run up 10 pips in price before Oanda's ever started moving. If I don't know what Oanda's true price is based on the charts, how am I suppose to make trading decisions. I have brought this up with Oanda more than once, and I always get the same answers, "Clear your cache and check your internet connection." I have run Oanda's platform on two differnent computers on two different high speed networks and neither platform had the same quotes and they severly lagged other charts/broker prices.

RossCub, Forexfactory 08/03/2009

Oanda offers decent platform and competitive pricing

Decent Platform. Good Customer Service, Competitive spreads during non-volatile markets. Spreads become unreasonable during volatility. Platform keeps crashing.

Hedgehog, Goforex 08/03/2009

Oanda spiked me into and out of a trade with a 20 pips tick

Software although looking nice is riddled with bugs, on many occasions it stops updating completely so you sit there thinking a trade is not moving, then move your mouse to find it has been moving the entire time. Also graphical glitches that cause display corruption and flickering.

I was recently spiked into and out of a trade with a large 20 pip spike in the space of ONE tick. after investigating 8 other brokers, not one of them showed a spike, or a price within 12 pips of the high on Oanda. Oanda insist it is valid price movement and refuse to reverse the trade.

I have recently had stops slipped by 5 pips, and this wasnt a jump, i watched it move through my stop and their systems were simply too slow to close it.

I have also noticed that sometimes trades magically close despite the chart getting nowhere near the stop and yet the closing price indicates it hit the stop.

I am looking for another broker.

Grentone, 08/03/2009

Oanda is a market maker, and at news time the speards are crazy

Oanda is a market maker, and at news time the speards are crazy and thats me being nice,. funny things happen at oanda when you start making money, couldnt login to the platform, on 2 different connections,.. could of been my pc? i dont know, but any way moved on to a ECN miles apart from market makers,

if you want to gamble go to a market maker, if you want trade proper REAL in the fx market go to a ECN,. simple as that

Jimmy, Alaska 08/03/2009

It is impossible to estimate the real cost of trade with Oanda

Advantages of OANDA don’t seem to be obvious.

Above all, it is impossible to estimate the real cost of trade, firstly because of complication in determining a size of spreads and secondly because the information about term-of-trades is rather obscure. Such kind of confusion could have been done on purpose. Moreover, a complete absence of information about the underlying structure and addresses of offices doesn’t make it any better.

The company seems to have the only strong side which is it’s help-analytical support. But there is a weak point even here and this is a very poor technical analysis available for a public view. Although a high-quality technical analysis may be available on a payment basis. 08/03/2009

With Oanda you can trade directly on the charts

Oanda also allows you to trade gold and silver against the dollar.
Oanda comes with a decent charting package. A reasonable amount of technical indicators are available and you can trade directly on the charts.
Opening an account was simple. Oanda takes 1-2 business days to check your identity, but after that you are ready to go.

Oanda provides good customer service, excellent reliability, and a reasonably good platform to trade with. They even provide a newsfeed service for free with your account. This is an excellent broker, particularly if you are just getting started.

forextrading 08/03/2009

Oanda Canada is not better than average

Traded with this Canadian firm for a short period during the liquidity crisis between June to Oct 08. Can't say they are better than average other than their daily rollover rates. If you are not trading intraday and you have a practice of using a wide stop on your longer term position (weekly/monthly), I think it is considered rather safe.

goonboy, 08/03/2009

If you do not trade news Oanda is for you

If you do not trade news this broker for you. In volatile market spreads become unbearable. Support is one of the best.

Tom Lowd, 08/03/2009

Oanda's visual stop-loss moving is very useful

Great execution. Visual stop-loss moving is very useful. Very simple platform, I would be glad to see much more features. Spreads are low. I trade with Oanda 1 year and I have nothing bad to say.

ofx, 08/03/2009

Oanda's Global Transfer is very convenient

More than 5 years and had also other brokers. Now, I just keep Oanda. The possibility to open sub-account in other currency is great. Global Transfer is very convenient as weel.

Nouche, 08/03/2009
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