Oanda 

Category: Forex Broker Reviews
http://www.oanda.com
Average user rating from: 38 user(s)

Broker Rating
4.4
 
Oanda

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User reviews
Monday, 08 February 2010

Written by Ilse from Belgium

I am trading with Oanda since 2006 and i am still satiesfied with them. No problems with withdrawals and scalping is allowed.
Thursday, 08 October 2009

Written by Stefan from Australia

I usually trade around new releases but with Oanda I am not having any luck getting good spreads during this time.� However, I still find Oanda better than other brokers that I have used like FXCM.
Sunday, 12 July 2009

Written by WC Chan from Singapore

Nowadays, my main brokers are ECNs and banks. For smaller sizes, I still go to retail brokers and the lowest I will go to is Oanda. I tried them all. Oanda is the best. They never requote or cheat outright as ALL MT4 brokers do. When your "Limit" order is hit, you can rest assured you will be filled, unlike all the other brokers. And when markets are in full swing their euro spreads have been known to drop to 0.6 Witdrawals are usually effected within 24 hours. But their charting facilities are primitive. My advice to small time traders, go to Oanda. You will be glad you did.
Wednesday, 18 February 2009

Written by Simone from France

I consider these guys the best of the worst of big brokers. Much prefer the smaller houses. I really don't like their charts.
Monday, 05 January 2009

Written by Marc from USA

As far as I am concerned, among the big brokers Oanda is probably the best. I came to this website to see if there are any others that deserve a try, but with the most reviews/highest score rating, I can see that many agree with me as it stands. I simply won't trust a broker with only a handful of reviews posted, most likely by their own handlers, so I will stick with what has worked well for me so far.
Monday, 22 December 2008

Written by jrdreeal from none   -  View all my reviews  - Top 10 Reviewer

I would say that all the brokers are capable to get a 5 star rating. Brokers are not scam or sometimes also treated as it is not a good broker. It is not so friends,the market circumstances become such that the broker has to change their patern of working or sometimes change their services also. For now i can this mush only about brokers. And Oanda is a very nice broker with nice services too.
Thursday, 13 November 2008

Written by Pritmas Fernando from Malaysia

Let me first start by saying there are no 5 star brokers out there, yes they are all crooks, scam artists, whatever but Oanda is the best out there and for that I give them 5 stars. While spreds are wide they have no commissions and money is paid to your account within 24 hours. They deal with JP Morgan which is a super size bank and basically risk free so for all of you forex traders out there, trust me - they are the best!
Wednesday, 12 November 2008

Written by pipseeker from France

This broker was very good in the past but recently with all the volatility in market place they have widened the spreads, common is 10 pips on GBP/USD and no news pending, while they are excellent on withdrawals and deposits this sudden wideness in spreads is preplexing and must be treated with caution.
Friday, 10 October 2008

Written by Sandy Lull from USA

I would have rated them 5 stars but their spreads are standard 3 on EUR/USD and 12 on GBP/JPY - very high but I have not been able to find a suitable alternative. In these financial times to find a reputable broker is difficult and at least Oanda have been around for a very long time, just don't trade with Oanda during news events - you can see 50 pip spreads in some cases. Good forex broker.
Tuesday, 12 August 2008

Written by Dharam from India

There is no broker out in this world that deserves 5 stars because nobody is perfect. Either the spread is too wide, or poor fills, or big commissions but after using a dozen brokers I can say that oanda is the best out there. When you place your take profit level sometimes it does not get hit as they will try not to hit it so just lower the take profit by 2 pips and it will be ok, the 2 pips is the hidden commission which they must charge so they are fine. I was reluctant to go with oanda at first because on forexbastards.com they were rated poorly, then I found out that onada refused to pay forex bastards for good reviews and oanda does not pay anyone for reviews, so forex bastards knocked them down, at least this site is posting reviews honestly. I found on forex justice that oanda was rated very highly and after using them for 2 months I agree with most of the reviews on this site.
Thursday, 07 August 2008

Written by Linda from Peru

The only flaw they have is their poor charting system, but you can't knock a star based on that. Their spreads are a little wider but then again no commissions so just keep an eye on your take profit or stop loss levels. Just add 2 pips on both ends to protect yourself then you can't complain about the pricing. Definitely would recommend this broker. I have tried many before but this is the best one I have found so far.
Thursday, 31 July 2008

Written by Sammy Solace from Belarus

Honestly I cannot give them 5 stars even though they pay on time and the spread is low, often their prices are not really accurate, like I had a profit at 1.5945 on eur/usd, 3 other platforms had this on the bid even oanda, but they did not hit my profit, eventually I had to close it manually at 1.5920 for a small profit losing 25 pips which should I have been mine. A good broker but not a great one.
Saturday, 19 July 2008

Written by Win from Germany

I have been using Oanda for about 1 year.
Good broker for beginners as you can trade any size you like, even 1 USD.
Spreads seem to be very tight, but in reality the often cheat. Even in quiet market conditions I experienced that the executed price was often 0,5-1 pip worse than the price shown when I clicked the order window. If you add this slippage to their tight spread, it only becomes an average spread.
Sometimes during important news releases their platform breaks down or their quotes are totally off market compared with an ECN broker.
Good thing is fast withdrawal of money
Saturday, 05 July 2008

Written by Sippy from Japan

While they might not be a perfect broker, they are the best out there. This is what a perfect broker:

1) NEVER WIDEN SPREADS DURING NEWS TIMES
2) NEVER STOP HUNTS
3) ALWAYS FILLS YOU
4) ALWAYS LETS YOU GET OUT OF THE TRADE

while it is impossible to get all of them, Oanda fills the above criteria with the exception of the first one.
Thursday, 19 June 2008

Written by moneyhungrydog from USA

This is money hungry dog again and people say I am a sexist which is probably true, but I have an oanda account and my recommendation is not to use them for trading the news, their spreads are very wide, like a porn star spreading their legs, yesterday I saw a 30 pip spread on GBP/USD. I still rate them well bec's when it is not news time the spreds get low like a virgin!
Monday, 16 June 2008

Written by Andrew Mack Johnson from Australia

This is truly the best broker out there. I have had over 10 different broker accounts but after finding about Oanda on this website I must thank the people of forex justice for providing a truly independent review site. I visited forex peace army which is a very large forex review site but it is NOT INDEPENDENT as I found out, at least here we have a forum which is independent and really has rated the best broker fairly!
Monday, 16 June 2008

Written by Montana Escuda from France

FIRSTLY!! let me say I am a NOT NOT a news trader, so for those crybabies who bitch about 20 pip spreads this your problem, I am an investor and hold currencies for weeks and even months and have NO COMPLAINS, I withdraw my money and it is in my french bank account in 24 hours in Euros. Very stable platform, fast execution, 24 hour help line, best broker!
Thursday, 12 June 2008

Written by traderformoney from Bolivia

I feel that my money is safe whit oanda. I have no complain agains them. Fast execution, stable plataform. I rated 4 because they need to provide trailing stops.
Thursday, 05 June 2008

Written by Steven Cheng from China

A fine broker with tight spreads, the only drawback is that if you make more than one withdrawal a month they charge you with a penatly fee, which I find odd because I am paying all the other bank charges, but the spreads are good and the instant execution feature is outstanding if you trade the news or in fast moving markets
Tuesday, 03 June 2008

Written by Roland C Winks from USA

no real complaints from this broker, except on the weekend they do widen the spreads on euro-dollar to 10 pips, i got stopped out on Monday cause of this but overall no complaints and would recommend them.
Monday, 02 June 2008

Written by Shane Travis from New Zealand

The foreign Exchange market is how I make my income and I am very good at this, I am a very active trader and I used to use only ECN, but Oanda is the same thing only without the commission, as I live in New Zealand I pay 4 pip spreads on the majors anyway as liquidity is low, the ECN have the same spread but I have to pay them commission. I only started using Oanda after I read the reviews on this site and I am very impressed with them. They have my vote along with 5 stars.
Thursday, 29 May 2008

Written by Amy Stevenson from USA

I was recommended to this broker by Kumar who runs fxswingtraders.com, I was previously using cms which had 10 pip spreads on gbp/jpy, it has made a huge difference to me. I day trade a lot and coming from a 10 pip to a 4 pip spread has really saved me some major $$$$, I would really recommend all new forex traders to give oanda a try, you can get a free demo account as well but the platform was so easy to use I picked it up in a matter of seconds!
Wednesday, 28 May 2008

Written by Kamlesh Shah from Singapore

this broker is very honest, i have never been stop hunted and when i set my take profit level on oanda it has always been honoured, I have used other brokers and so often my position has not been closed when the proft has reached, for the first time in 14 months i actually made money trading forex and for this i must thank oanda for their great customer service and reliability of their trading platform.
Tuesday, 27 May 2008

Written by suresh sethi from India

my first broker experience was with moneygarden.com, while I had no problems with them I used to pay 3-4 pips on eur/usd, I like to trade many times in one day like 30 trades, so my commission in pips was 90 pips, then a friend told me about oanda, which has 1 pip spread, so i save 75 pips a day, oanda is very good broker, best spread in the business. I recommend everybody to open account with oanda.
Friday, 23 May 2008

Written by Jimmy W Smith from USA

So what if felix calls this a "bucket shop broker" he only promotes MB Trading because they give him commissions on all YOUR TRADES, Oanda never gives anything back to anyone referring and they pass on all the savings to you! NO COMMISSIONS AND ONE PIP SPREAD ON EUR/USD!! What else do you want, great for scalping the euro with such a tight spread. I would give them 100 stars if available.
Tuesday, 20 May 2008

Written by Jerry G from United Kingdom

Today I was trading with fxswingtraders.com the GBP/JPY and I must say I was amazed, only 4 pips on GBP/JPY and I was getting better fills and exits than the signal provider every time!! This broker is the best out there.
Sunday, 18 May 2008

Written by Riz from Sweden

Best platform out there, and here are highlights of this broker:

1) Easiest platform to use
2) tightest spreads in the world
3) No commission charges
4) witdrawals paid within 24 hours
5) Live chat with customer service
6) can open account in Euros

I would recommend everyone to use this broker
Friday, 16 May 2008

Written by Mary from Australia

Why is oanda rated poorly at other review sites. Its because other review sites have a "favourable bias towards MB TRADING", so they slam oanda, trust me these guys are honest and it is the easiest platform I have ever used. Many people call them bucket shops, who cares, they let you in a trade, they let you out, they give you back your money when you ask and they offer 1 pip spread on EUR/USD with NO COMMISSIONS!!! Don't trust other review sites that have hidden agendas to promote other brokers because they get fees. Oanda never offers this service and that is why they can offer you the lowest spreads instead of paying other people for recommendations.
Wednesday, 14 May 2008

Written by Rajesh from Singapore

Firstly I must say that these guys make withdrawals very easy and quick, so its not like they will take your money, the issue I have is the spread. Today there was a UK report due out and one minute before this release they widened the spread from 2 pips to 25 pips!!! I got stopped out immediately and when the news came out I would have ended up making pips, I can understand they must widen the spread but come on 25 pips! If you don't want news traders just freeze the platform 1 miniute before the release rather than widen the spread!!!
Wednesday, 14 May 2008

Written by John Wo from Singapore

Very honest and helpful bunch of people. I never had issues trading with them in last 2 years. Highly recommended. Only bad thing is their trading software. Once you get used to it is ok.
Tuesday, 13 May 2008

Written by Ralph from China

I have read on other websites that these are market makers and should not be trusted, I have opened an account with them for over 6 months and they are great, they gurantee my stop losses all the time, they give me my funds when requested within 24 hours and also have live chat feature. All the great things a broker should be and here is the "kicker" 1 pip spread on eur/usd, what else can you ask for? Must check this site out, best forex broker out there.
Wednesday, 05 December 2007

Written by kumarfx from China

I am the founder of fxswingtraders.com and I personally use them for my trading. They offer very tight spreads and great rollover rates. They gurantee fills and stops and they are an excellent broker. They widen their spreads during news times but I am a professional trader who does not trade news events so they work great for me. If you are a swing trader who holds positions for a while and NOT a scalper this broker is fantastic and I recommend you to try them out. You can get a free demo off their website.
Tuesday, 20 November 2007

Written by Kaloo from United Kingdom

I read on another review site that they are not good for trading news and they only received 3 stars, I don't think there is a better broker anywhere. I have used over a dozen brokers and I thank my lucky stars I found oanda. Tight spreads, no commission and they ALWAYS execute my stop loss and take profit levels when I have entered it. What else can one ask from a broker. Definitely the best one out there and gets 5 stars.
Monday, 12 November 2007

Written by roland from Belgium

platform is very easy to use, no commissions, the charts are not very good but you can get free charting from other brokers. I like the fact i pay no commissions and spreads are very low, only 1 pips sometime for eur/usd. To withdraw money is fast and simple and you can get a free demo which never expires. only you can never close your position over the phone, so if the platform goes down this is tough luck to you. If their platform never broke down I would give them 5 stars
Friday, 09 November 2007

Written by Tony from China

they are a great broker, when i withdraw my money it is in my bank account within 24 hours, they have tight spreads, no commission and guaranteed stop loss. What is not to like about this broker? So they widen spreads during news times, so what, whoever trades at news times is nuts anyway, no broker will give a good fill at this time, stay away from news trading, trade on your own and I rate this the best broker out there. I have traded with other brokers and this is by far away the best out there!
Thursday, 08 November 2007

Written by Mike from New Zealand

If you can live without charts, this is a decent broker. They were my second broker (other was FXCM) and now I just use them and use FXCM for the charts mainly. That is my way of trading and it is working quite well.
Thursday, 08 November 2007

Written by Annonymous from Japan

I use two brokers and Oanda is one of them. I have not had any problems with any of my trades even though they trade against me since they are a market maker. I have a couple buddies and they have never had any real major issues either. If you trade substantial amounts, which I don't, then you will likely be better of working with a ecn, but you are a small trader like me, this isn't a bad place to be. Their charts suck btw. Oanda - if you guys are reading this - improve your platform for your clients sake. 3 stars.
Tuesday, 06 November 2007

Written by Duncan from USA

There are other review sites that have people bashing Oanda with much real merit. Find me a perfect broker? There isn't one, so you pick the best of the bunch and I think they are it.


 
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