This Oanda review was conducted by the team of Miniforex.com for those who want to know about the Oanda forex broker. Established since the mid of 1990s, OANDA brokerage is one of the first pioneers of online fx brokers. In 2001, the online trading platform of FXTrade was established, it was the first completely automated forex trading platform. As OANDA have grown up by leaps and bounds to manage more than a million inquiries a day. It is assessed that about 20% of the universal spot forex trades goes throughout the broker’s servers.
Trading Platforms
Serving the requirements of traders at OANDA are 2 basic types trading platforms, namely the OANDA’s MT4 trading platform and the FXTrade WebTrader. The Metatrader4 trading platform is extremely regarded by the online trading community for its progressive features and difficulty trading tools. For FXTrade WebTrader, it necessitates JAVA to run. Because it is web based, if they have an internet connection traders can access the platform from everyplace in the world.
Both the two versions of trading platform are also accessible for mobile devices. For tech knowledge traders, they can usage the OANDA FXTrade API libraries to form their personal automated trading system to accommodate trading actions for example:
- Admittance To Current And Historical Market Data
- Risk-Free Testing
- Access To Historical Trading Transactions
- Trade Requests
- Take-Profit, Stop-Loss, Or Entry Orders
To get more information about the broker trading platforms visit “ForexSQ” Oanda UK review page.
Account Types
The broker does not differentiate between different types of traders. As such, there is simply one standard type of trading account at OANDA. They also don’t have a necessity of minimum deposit. Trades of any sizes are acceptable without any minimum lot size condition.
Commission & Spreads
Like maximum online forex brokers, OANDA doesn’t charge any fees or commission for their trading services. In its place what traders pay is a spread based on real-time market values. Contingent on the currency traded, spreads begins from as low as 1.1 pips. Spreads for indices are even lesser, starting from as little as 0.5 pips.
Customer Support
Customer support services is available 5 days a week. The customer service representative can conversed by means of live chat, telephone or email fax. For the benefit of their customers, OANDA maintain an office in the following places:
- London, UK
- Toronto, Canada
- Chicago, USA
- Tokyo, Japan
- Bay front, Singapore
Methods of Payment
OANDA provides its customers several methods to deposit/withdraw assets to and from their accounts. They differ, depending on the broker division of registration, but the chief payment modes are bank wire, debit/credit card, checks, UnionPay and PayPal.
Trailing Stops
Trailing stops are completely supported by the broker trading platform, and are clear during account set-up in the user inclination options. Trailing stops can be set with a lesser limit of 10 pips and a higher limit of 1,000 pips.
Conclusion
To test the broker you can open free demo account with Oanda broker at “TopForexBrokers.com” Oanda review page, With features such as no minimum deposit requirement, automated trading capability, real time pricing and trade sizes, it is simple to see why the broker is prevalent among numerous traders. The fact that the brokerage is a regulated and long established broker is a bonus for traders, Wikipedia says. For mobile trading you can download the broker Google Android application or itunes IOS app for Apple products.
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