Oanda
OANDA Corporation is regulated by the CFTC/NFA. OANDA is a member Firm of the NFA (Member ID: 0325821). CFDs are not available to residents in the United States.
OANDA CORPORATION IS A MEMBER OF NFA AND IS SUBJECT TO NFA'S REGULATORY OVERSIGHT AND EXAMINATIONS. HOWEVER, YOU SHOULD BE AWARE THAT NFA DOES NOT HAVE REGULATORY OVERSIGHT AUTHORITY OVER UNDERLYING OR SPOT VIRTUAL CURRENCY PRODUCTS OR TRANSACTIONS OR VIRTUAL CURRENCY EXCHANGES, CUSTODIANS OR MARKETS
Trading in digital assets, including cryptocurrencies, is especially risky and is only for individuals with a high risk tolerance and the financial ability to sustain losses. OANDA Corporation is not party to any transactions in digital assets and does not custody digital assets on your behalf. All digital asset transactions occur on the Paxos Trust Company exchange. Any positions in digital assets are custodied solely with Paxos and held in an account in your name outside of OANDA Corporation. Digital assets held with Paxos are not protected by SIPC. Paxos is not an NFA member and is not subject to the NFA’s regulatory oversight and examinations.
Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances. You may lose more than you invest. Information on this website is general in nature. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. Trading through an online platform carries additional risks.
Oanda
Overall
I've been trading with oanda since I was a rookie. That was three years ago, but I went broke not because of the broker, but I don;t know how to trade. But now, if anyone wants to open an account with oanda, I recommend it. This is due to its reputation, well funded broker and I think its safe. The problem is you cannot hedge and its NFA broker which always changes the rule. Sometimes the customer service are quite slow but overall, its ok.
Overall
I have live experience with other very good brokers but Oanda is the top of the heap for me
Overall
Probably the best place to grow up as a new forex trader. You can trade with a small account without paying fees and having to take large lots. Their API is fine, although at a steep 600usd a month fee for small accounts.
Customer service is very good, If they have a bad price somewhere triggering your stops and loosing you money, they will usually find out themselves and mail you that it's now corrected and you have your trades as if it didn't happen. Once i had an issue where a peculiar crash made my client do stupid trades. guy asked me what i though i'd lost due to the outage, i said well 150 euros or so (i had a small acct.) and they simply credited me those funds. even though my problem was of the sort "i wanted to have sold, but the platform was fubar". they go the extra mile to make clients happy.
also good because you can trade gold and silver.
also good because you get paid interest differentials on the two currencies comprising a position. (and those interest rates are advised). And sub accounts. And lots of exotic currencies. and as mentioned earlier - good spreds. Slippage can work your way too (you clck buy at 1.5, currency goes down before your order travels to oanda, you get executed at 1.498 - they don't pocket the difference)
realtime (several times a second) updating account windows with margin pct and NAV.
Free demo platform that works exactly as the real one.
support for money managers and managed accounts
Dennis
Overall
I have been using oanda about 1 year and I don`t have any problems with them. You can choose units yourself, also they have changeble spreads (very nice) and simple, but very easy to use platform. So, very good feedback from me.
Overall
They fall over every time there's a data release! The forum members we're moaning like the clappers just the other day.
Overall
Excellent broker.
Been using them for over 3 years, without a glitch. They have superb customer service, and probably the best spreads for the private investor.
The only thing that's missing is a free and easy api, such as the metatrader 4 api.
