OANDA Review 2026

How safe is OANDA?

OANDA has a trust score of 96, based on its regulation, reputation, and reviews.

1. Regulation

Your account is held with OANDA Global Markets Ltd, a private limited company registered in the British Virgin Islands, company number 2026433, authorised and regulated by the BVI Financial Services Commission (FSC) under licence SIBA/L/20/1130. The FSC register lists it for dealing as principal and arranging deals in investments. OANDA assigns the contracting entity by country of residence, and OGM serves residents of countries including Chile, Hong Kong, Indonesia, Malaysia, Mexico, the Philippines, Thailand, the United Arab Emirates and Vietnam, while residents of the US, the UK, the EU, Canada, Singapore and Australia open with OANDA’s entities in those places.

As an OGM client you are classified as a retail client under the Retail Clients Terms of Business, and no professional route is published. Your money is held in a segregated client money bank account, pooled at one or more third-party banks, where no interest is paid, and money may sit in notice or term deposits of up to 95 days; on liquidation, clients get their share of segregated money less the administrators’ costs, and the firm is not liable if a third-party bank fails. There is no negative balance protection: the terms say all negative balances are payable, and losses can exceed deposits. Leverage runs up to 888:1 on the instruments described above. The terms, complaints policy and client money page name no compensation scheme. Complaints go to [email protected] or the Compliance Department at the registered office, with a final response aimed for within 3 business days and escalation to the compliance officer and, where appropriate, the board, with a further response aimed for within 25 calendar days; no ombudsman or outside dispute body is named, though the FSC may ask to see the firm’s complaints register.

The group’s other licences do not carry over to an OGM account, because each OANDA entity is licensed for its own country’s residents. OANDA Corporation serves the US, OANDA Europe Limited the UK, OANDA TMS Brokers S.A. the EU, OANDA (Canada) Corporation ULC Canada, OANDA Asia Pacific Pte Ltd Singapore, and OANDA Australia Pty Ltd Australia. The UK, EU and Australian regimes cap retail leverage and require negative balance protection for retail clients, but an OGM client gets none of that.

The group’s tier-1 licences, with the FCA, ASIC, MAS, CIRO, and the CFTC and NFA, bring their own clients protections you do not get as an OGM client: no FSCS, Financial Ombudsman Service, AFCA or CIPF cover, no 30:1 retail leverage cap, and no negative balance protection.

Some of the abbreviations on this page are expanded to the regulator's full name: a broker regulated by ASIC is regulated by the Australian Securities and Investments Commission. FSCS is the Financial Services Compensation Scheme.

OANDA Corporation, the US firm, is a separate entity from those this review covers, registered with the CFTC and an NFA member (ID 0325821). If you are in the US, see our OANDA for US traders.

OANDA Asia Pacific Pte. Ltd. is listed on the MAS Financial Institutions Directory as a Capital Markets Services Licensee and an Exempt Financial Adviser. If you are in Singapore, see our OANDA for Singapore traders.

2. Reputation

OANDA draws 451,670 worldwide branded Google searches for September 2026, which ranks it fifth among the 61 brokers this site tracks. Similarweb reported 5,224,000 global visits in February 2026, the 9th most visited broker.

Founded in 1996, OANDA is one of the forex industry’s pioneering online brokers. While the company doesn’t publicly disclose its exact client numbers, industry estimates suggest it serves hundreds of thousands of traders globally, with particularly strong penetration in North America, Europe, and developed Asia-Pacific markets. OANDA’s trading volumes reportedly reach several billion dollars daily, reflecting its established position as one of the industry’s institutional-grade retail forex brokers. The company’s acquisition by CVC Capital Partners in 2018 positioned it for further expansion beyond its traditional markets.

OANDA Country, 10 rows.

Country	2026 Monthly Searches	Rank
United States	49,500	1st
India	33,100	2nd
Germany	33,100	3rd
France	22,200	4th
Switzerland	22,200	5th
Italy	18,100	6th
United Kingdom	18,100	7th
Spain	18,100	8th
Japan	14,800	9th
Canada	12,100	10th

3. Reviews

Our score for OANDA is set against every other broker on Forex And CFD Broker Reviews.

What traders say about OANDA

What other review sites say about OANDA

These are ratings of OANDA from other platforms, read on the date shown and expressed on each platform's scale, so you can weigh them against our own score.

Platform	Rating	Volume	Read on
Trustpilot	3.5 / 5	1,238	Oct 1, 2026
TradingView	4.5 / 5	33,932	Oct 2, 2026

OANDA holds a Trustpilot rating of 3.5 out of 5 from 1,238 reviews, checked Oct 1, 2026.

On TradingView, OANDA is rated 4.5 out of 5 from 33,932 ratings, checked Oct 2, 2026. The TradingView profile for OANDA shows 333.1K traders, the count of those who have connected an account through TradingView. TradingView shows the Best 2025 badge on the profile.

App Store and Google Play ratings for OANDA

Our score is based on published criteria and is not influenced by these third-party ratings.

How popular is OANDA?

People worldwide made 451,670 branded searches for OANDA in September 2026, placing it 5th of the 61 brokers we review. Search interest measures attention, not quality; the score above is the review verdict.

5of 61Search interest rank

451,670

Brand searches, September 2026

0.0%

vs August 2026

5,790

Login searches

7.2%

Share of all searches

Source: Google search volume, Worldwide, September 2026.

How this is measured

Google Ads reports how many times a month people searched each broker's brand terms, and the brokers are ranked on that figure alone.

A term counts for a broker only when that broker's own website holds the first organic Google result for it; bare brand words that any company could own are left out.

A month-on-month change prints only where the previous month reached 1,000 searches, because Google rounds smaller volumes.

The figures refresh on the 15th of each month with the newest month Google has published, and the first-result check repeats every quarter.

OANDA by market, September 2026

Market	Rank	Brand searches	vs August
Worldwide	5 / 61	451,670	0.0%
the United States	2 / 5	41,060	-0.2%
Canada	2 / 10	10,960	-0.5%
Singapore	2 / 9	10,310	+20.4%
Malaysia	3 / 16	5,640	+0.2%

Source: branded Google search volume, September 2026, covering Worldwide, the United States, Canada, Singapore, Malaysia.

OANDA at a glance

About This OANDA Review

This review focuses on OANDA Global Markets Ltd, the entity an international client actually opens with, registered in the British Virgin Islands under company number 2026433 and authorised and regulated by the BVI Financial Services Commission (licence SIBA/L/20/1130). OANDA assigns the contracting entity by country of residence, and this entity serves residents of Chile, Colombia, Hong Kong, Indonesia, Macao, Malaysia, Mexico, the Philippines, Taiwan, Thailand, the United Arab Emirates and Vietnam. Residents of the US, the UK, the EU, Canada, Singapore and Australia open with OANDA’s entities in those places, which this review does not cover.

I review the costs, tradable markets, account types and trading platforms of OANDA Global Markets Ltd for clients who open an account with that entity.

My Findings with OANDA

What I like most about OANDA Global Markets Ltd is the choice of platforms: the OANDA mobile app (iOS and Android), MetaTrader 5 (web, desktop and mobile) and TradingView. Every spread-only account carries no commission, so your cost sits in the spread. MT5 also comes with copy trading built in, which broadens who the broker suits.

The forex range runs to 48 pairs, and the Standard tier quotes spreads from 0.6 pips on 10 major instruments with US$0 commission. On the firm’s pricing table, EUR/USD reads from 1.0 pips on spread-only pricing, though another OGM page quotes it from 0.6. Core pricing is limited to Premium Plus and starts from 0.1 pips on selected majors, with a commission of US$40 per US$1 million notional on each leg. In my view, that makes the Standard tier the sensible place to start unless you already trade at Premium Plus scale.

OANDA Global Markets Ltd is authorised and regulated by the BVI Financial Services Commission, licence SIBA/L/20/1130, and the OANDA Group says it is regulated in eight jurisdictions. Those other licences belong to the group’s other entities, such as OANDA Europe Limited (FCA, No. 542574) in the UK and OANDA Asia Pacific Pte Ltd (MAS) in Singapore, which serve their own residents.

The downside is the absence of negative balance protection: the terms say all negative balances are payable, and losses can exceed deposits. Copy trading is not the gap here, since it is built into MT5.

Affiliate receives a commission for accounts opened through the link on this page

OANDA account types and minimum deposit

OANDA Global Markets Ltd offers three account types: Standard, Premium and Premium Plus, all personal accounts, with no joint accounts. Every account opens as Standard with spread-only pricing, and a new client’s package is set by the initial deposit. Hedging is allowed, the minimum order is 0.01 lots, the base currencies are USD, EUR, HKD and SGD, and more than 1,500 instruments are available. I like that everyone starts on the same terms, so your costs are clear from day one.

Standard Account

The Standard account is open to all clients with no initial deposit and US$0 commission, and spreads start from 0.6 pips on 10 major instruments. On the firm’s pricing table, EUR/USD reads from 1.0 pips on spread-only pricing, while another OGM page, the tools page footer, quotes it from 0.6, so the two pages differ. Identity checks are not needed below US$9,000 of gross deposits, which keeps the entry simple. The tier also includes MT5 premium tools, Signal Centre by Acuity, technical analysis by AutoChartist, and 24/5 customer service. In my opinion, the included tools and analysis services make the Standard tier a well-rounded starting point for new clients.

Spread-Only vs Core Pricing

The table shows the firm’s own “spreads from” figures in pips for spread-only and core pricing, read October 14, 2026.

Premium Accounts

Premium qualification takes a USD 10,000 deposit or USD 10 million of notional volume a month, and you keep the tier above USD 30 million notional a quarter. The commission stays at US$0, and the package adds a relationship manager, no deposit fees, funding fees reimbursed up to US$40 per transaction, free withdrawals, 3cAnalysis and Macromicro subscriptions, event and webinar invitations, and a free VPN. Volume rebates run at US$4 per million with a minimum monthly volume of US$20 million, which softens costs if you trade at scale. I would treat the rebates as a bonus rather than a reason to chase volume, since the US$20 million monthly minimum is a high bar.

Premium Plus Account

Premium Plus requires USD 50 million of notional volume a month, kept above USD 200 million notional a quarter. It is the only tier with core pricing, and it adds funding fees reimbursed in full, a spread discount, a free VPS, a priority service queue and a dedicated relationship manager. Volume rebates rise to US$6 per million with a minimum monthly volume of US$50 million. To enrol in core pricing, a Premium Plus client emails the relationship team. In my view, the entry requirements put this tier out of reach of most retail traders, and the Standard and Premium tiers are where the realistic choices sit.

OANDA Demo Account

A demo account is opened through the sign-up form or a chatbot in Messenger or Telegram, for residents of eligible countries aged 18 and over. How long it lasts and its virtual balance are not published, and MT4 demo accounts were closed.

Spreads & Commission

Trading Cost: 9/10

Standard Account Spreads

On spread-only pricing, the firm quotes spreads from 0.6 pips on 10 major instruments with US$0 commission, and EUR/USD reads from 1.0 pips on the pricing table. Both figures are floors the firm prints, not averages. The firm says its commission on spread-only pricing is built into the spread. I would treat these printed floors as a starting point for comparison rather than a promise of what you will pay in live trading.

Minimum Spreads on Standard

The OANDA row shows OGM’s spread-only “spreads from” figures, read October 14, 2026, which are floors rather than averages.

Ross Collins’s spread tests measured 1.06 pips on EUR/USD on OANDA’s standard account, run on MetaTrader 4. The test record does not name which OANDA entity held the account, and OANDA Global Markets Ltd has not offered MetaTrader 4 since October 7, 2024, so the figure cannot be read as an OGM result.

OANDA Standard Spreads Tested By Ross Collins, compared on spreads.

Standard Spreads Tested By Ross Collins	EUR/USD	AUD/USD	GBP/USD	USD/JPY	USD/CAD
	1.06	1.00	1.86	1.55	1.75
	0.73	0.82	1.15	1.09	1.00
	1.21	1.24	1.50	1.55	1.60
	1.34	1.69	1.78	2.00	1.82
	1.01	1.02	1.23	1.27	1.17
	1.16	1.07	1.77	1.74	2.30

Avg. spreads are taken from each broker’s website and updated monthly. Last update on 1 Sep 2026

OANDA Global Markets Ltd takes its spot prices from “major financial institutions”, its words, and names none of them.

Core Pricing (Premium Plus)

Core pricing is limited to Premium Plus, and its spreads run as low as 0.1 pips on selected majors (EUR/USD, GBP/USD, USD/JPY), wider when liquidity is low. The commission is USD 40 per USD 1 million notional on each leg of a trade, charged on both legs when the position opens: US$4 per US$100k per side, US$8 per US$100k round turn. If your account is not in USD, the commission is charged in the account currency at the current rate. The firm’s own example: 100,000 EUR/USD at 1.17728 costs US$4.71 per leg, US$9.42 of commission in total, plus US$1.00 of spread at 0.1 pips, US$10.42 in all. To enrol, a Premium Plus client emails the relationship team.

The commissions with OANDA’s core pricing are as below:

Core Pricing Commission Compared

Leverage & Margin

Leverage at OANDA Global Markets Ltd is set per instrument and per position size, with the margin needed rising in tiers as your exposure grows. Accounts opened after October 3, 2022 can access up to 888:1 on 14 instruments, covering major forex pairs such as EUR/USD, GBP/USD and USD/JPY, plus gold and the US30, US100 and US500 indices, on positions below US$0.5 million. Accounts opened before that date are capped at 200:1 on the same instruments.

Outside that group, NZD/USD, USD/CAD and USD/CHF sit at 200:1, most crosses at about 150:1, and exotics at about 75:1, with SGD/JPY, USD/HKD and USD/SGD at 25:1. Indices such as the AU200, DE40 and UK100 run at 200:1, while oil, natural gas and copper are 100:1, silver 40:1, and Bitcoin 10:1 with other cryptocurrencies down to 4:1. Share CFDs are typically 5:1.

You will receive an email warning when your margin level reaches 100%, and positions are closed out at 50%. The client portal and MT5 display a base leverage of 1:100 rather than your account’s actual leverage, which the firm attributes to system limitations.

Deposits and withdrawals with OANDA

Score: 5/10

You can deposit with Visa and Mastercard credit and debit cards (no prepaid cards), bank and WISE transfers, Skrill, Neteller, and local online bank and e-wallet methods in some South East Asian, Latin American and African countries. OGM charges no deposit fee, though your card issuer or payment provider may. There is no minimum for card, Neteller, Skrill or wire deposits. Card deposits are immediate, Neteller and Skrill take up to one business day, and bank wire takes three to five business days; no third-party payments are accepted. I would use a card where you can, since it is both the fastest route in and free at OGM’s end.

Withdrawals go back to the same method and in the same currency you deposited with. Card withdrawals are free and take about one business day after the deposits clear, e-wallets within one business day, and bank wire two to five business days. Bank wire costs US$20 per transaction on the charges page, though the help centre’s table shows USD 20 for the first withdrawal in a month and USD 35 for each further one. The minimum is the lesser of USD 50 and your available balance. In my view the wire fee is the one cost worth planning around, so I would keep withdrawals to once a month if you bank by wire.

Moving money between accounts in different currencies costs 50 basis points (0.5%), and after 12 months with no trading an inactivity fee of up to US$20 a month applies, which never takes your balance below zero. Premium and Premium Plus clients get funding fees reimbursed, up to US$40 per transaction on Premium and in full on Premium Plus.

I like that the Standard account has no initial deposit, so you can start trading with an amount you are comfortable with rather than a minimum other brokers impose. The main cost to watch is the US$20 bank wire withdrawal fee.

OANDA trading platforms and app

Score: 8/10

OANDA Global Markets Ltd offers three platforms: the OANDA mobile app for iOS and Android, MetaTrader 5 on web, desktop and mobile, and TradingView. MetaTrader 4 has not been offered since October 7, 2024, with live MT4 accounts moved to MT5. No OANDA web platform is listed for this entity. In my view, this is still a strong line-up, because MT5 and TradingView cover most trading styles on their own.

MetaTrader 5

MT5 is available on web, desktop and mobile, and the home page says it comes with copy trading built in. You get a built-in depth of market, which the firm says lets it offer tighter spreads on smaller trade sizes, a built-in economic calendar, expert advisors in MQL5 and 21 timeframes. The MT5 web terminal carries 30 technical indicators, and the app needs iOS 9.0 or later or Android 5.0 or later. Expert advisors and native depth of market run on MT5 only, not on the OANDA app or TradingView, so in my view MT5 is the platform to pick if automation matters to you.

To help you make the most of MT5, OANDA includes FX Blue Labs premium tools, more than 15 indicators and nine expert advisors in one download, among them an alarm manager, keyboard trading, a mini terminal and a tick chart trader. AutoChartist is free as an MT5 plugin, and Signal Centre by Acuity is included. VPS hosting from Beeks and Liquidity Connect is available by subscription.

TradingView

TradingView at OGM lets you trade symbols ending in .ONE from the browser, desktop and mobile, with synced layouts. You get 100+ pre-built indicators, 12+ chart types and 50+ drawing tools, with a free basic version available. Share CFDs on TradingView are listed as coming soon.

You can customise your trading display by adding up to 16 charts per tab and individualise your indicator line-up from their library of over 100,000 custom indicators. That leaves your chart display set up for your portfolio and trading style.

Using Pine Script, TradingView’s scripting language, you can create and share your own trading strategies. The platform also offers social trading features, letting you follow and interact with other traders.

TradingView works on both web and mobile, with the same charts and watchlists synced across both, and it integrates with multiple brokers for direct order entry. This makes it easier to trade on-the-go, regardless of your device.

OANDA app

OANDA's app OANDA - Forex trading is rated 4.7 out of 5 from 23,937 ratings on the United States App Store, checked Oct 1, 2026.

OANDA - Forex trading broker is rated 4.6 out of 5 on Google Play (United States store) from 8.77K reviews shown worldwide, checked Oct 1, 2026.

View on the App StoreView on Google Play

OANDA trading platforms and app

The OANDA mobile app is available for smartphones and tablets running iOS and Android. It has a customisable and clean interface, easy-to-access market watchlists, and multiple technical indicators and drawing tools on its charts.

Alternatively, you can use the MT5 app for iOS and Android, which needs iOS 9.0 or later or Android 5.0 or later. It runs on the same MT5 account, so you can manage your open trades on the go, though expert advisors and native depth of market run on MT5 only.

Markets you can trade with OANDA

Score: 9/10

In my opinion the range of markets at OANDA is built around forex, with 48 pairs on the forex page, while the margin rates list carries 41. That gives you plenty of majors, minors and exotics to trade. The wider instrument list runs to more than 1,500 instruments.

Beyond forex, the margin rates list counts 18 index CFDs, 3 energies (Brent, WTI and natural gas), copper, 4 agricultural commodities (wheat, corn, soybeans and sugar), 2 metals (gold and silver, both against the US dollar), and 18 cryptocurrencies. Share CFDs sit among the more than 1,500 instruments, and the share count is not published, with no bond CFDs listed. Non-US share CFDs are available by default, while US share CFDs need a tax declaration from you.

Counts are taken from OGM’s margin rates list dated August 28, 2026, except the 48 forex pairs, which is the forex page’s figure.

OANDA customer service, research and education

Score: 10/10

You can reach support through web chat, WhatsApp, Facebook Messenger, SMS, and email at [email protected], from Sunday 5pm to Friday 7pm AST. Phone support runs on +1 855 257 7413 during business hours on business days. There is also a help centre at help.oanda.com. I like that chat and messaging run through the whole trading week, which is what you want when markets move outside office hours.

The help centre at help.oanda.com carries articles on managing your account and funding. The site is available in 10 languages, including English, Thai, Spanish, Portuguese, Vietnamese, Indonesian, Malay, Traditional Chinese, Simplified Chinese, and French.

Research and education

Score: 7/10

OGM’s Skills & insights section covers an introduction to trading, trading psychology, trading strategies, and market commentary articles, plus a TradingView guide and gold and indices reports. Premium clients add event and webinar invitations on top of the free material. In my opinion the broker could offer more education at this level, as the free section is a modest starting point rather than a full programme.

Market Research

Research is built around Signal Centre by Acuity, AutoChartist, the order book tool, and the MT5 economic calendar, which together cover signals, pattern recognition and event planning. Premium clients add 3cAnalysis and Macromicro subscriptions plus event and webinar invitations, so heavier traders get the deeper analysis. In my view this is a solid set for a spread-only broker, though the best of it sits behind the Premium tiers.

Our final verdict on OANDA

In my opinion OANDA Global Markets Ltd suits forex-focused traders who want a real choice of platforms, with the OANDA mobile app, MetaTrader 5 and TradingView, and 48 forex pairs to trade. Core pricing is open only to Premium Plus traders at US$50 million notional volume a month, and it pairs spreads from 0.1 pips on selected majors with a commission of US$40 per US$1 million notional on each leg.

I give OANDA a final score of 88.3/100, excelling in my categories for trust, customer service, and trading platform choice.

The terms say all negative balances are payable, losses can exceed deposits, and no compensation scheme is named, so you are relying on a BVI FSC licence (SIBA/L/20/1130) rather than a tier-1 regime. For high-volume traders, the Premium and Premium Plus tiers soften the costs, with volume rebates of US$4 and US$6 per million respectively and funding fee reimbursements. I would weigh that trade-off carefully before opening an account.

Affiliate receives a commission for accounts opened through the link on this page.