OANDA Review for Singapore Traders

Is OANDA safe? MAS licence, OANDA Asia Pacific Pte. Ltd.

The MAS Financial Institutions Directory, read on 24 September 2026, lists OANDA Asia Pacific Pte. Ltd. as a Capital Markets Services Licensee and an Exempt Financial Adviser. We read the directory and the firm’s own Singapore pages from a Singapore connection on the same date.

FID carries no former names for the entity. I would treat a directory record as the starting point, not the finish.

MAS actions and the Investor Alert List

We searched MAS enforcement actions and media releases for the firm’s name, and no action or release names it as its subject. One MAS publication from 2021 names OANDA Asia Pacific Pte. Ltd. as the online trading platform a representative of another firm deceived, in a case whose subject is that individual. That is not an action against the licensee.

This page covers the Singapore entity, OANDA Asia Pacific Pte. Ltd., while our OANDA review covers the brand worldwide.

OANDA client money

A Singapore retail client contracts with OANDA Asia Pacific Pte. Ltd., and the firm’s own Singapore site prints the entity.

Where a Singapore client’s money is held

The firm’s risk disclosure agreement states it has set up a trust account at a bank registered and licensed in Singapore, and that all funds you send must be deposited in this trust account and held there in trust for you. Its customer agreement states Client Money is held in a segregated trust account.

Who a Singapore client contracts with

The firm’s own Singapore site prints OANDA Asia Pacific Pte. Ltd. as the entity a Singapore client deals with. FID lists the same legal name. That match is what I would check first before depositing anywhere.

Negative balances

The customer agreement states the firm does not provide negative balance protection.

OANDA at a glance: 3 key facts

OANDA spreads and commission

OANDA Asia Pacific Pte. Ltd. advertises its EUR/USD pricing two ways, by account. None of these figures was measured by us: they are the firm’s advertised numbers, read from its Singapore pricing pages. I treat advertised minimums as a floor to compare, not a promise of what you will pay on every fill.

Spread only

The firm advertises EUR/USD from 0.8 pips on its Spread only account, a minimum figure. The commission is wrapped into the spread on this account, with no separate charge. For a trader who wants one number and no second line on the statement, that is the simpler of the two pricings.

Core pricing (commission)

The firm advertises EUR/USD from 0.0 pips on its Core pricing, again a minimum, with a commission charged separately.

Commission

The firm’s pricing page states USD 3 commissions per 100,000 units of currency traded on Core pricing, with no commission on Spread only. Its account-comparison page states the core commission differently, as US$50/million for the Standard account and US$40/million for Premium and Premium Plus. Both are published by the firm, and I choose neither: check which page governs your account before you trade.

What it costs to trade with OANDA

What a trade costs you at this firm is the spread plus, on Core pricing, the commission. I would add the two together on the account you actually plan to open, because a low minimum spread with a separate commission can cost more than a wider all-in spread.

Other fees a Singapore trader should check

The firm’s charges page states no fee for SGD-to-SGD withdrawals and US$20 for non-SGD withdrawals. Beyond that, check the firm’s Singapore charges page for any inactivity, account or platform fee before you trade.

OANDA deposits and withdrawals

A Singapore account is funded through local routes. The firm names the banks it accepts PayNow deposits from, which include DBS/POSB, OCBC, UOB and others.

Deposit methods (Singapore clients)

The firm states DBS Bill Pay deposits are processed between one and two business days, and the same timing for SGD deposits by FAST to its DBS accounts.

Withdrawals

You withdraw to your bank account by bank transfer, the firm states. I would keep withdrawals in SGD where you can, on the firm’s own stated terms.

OANDA account types and minimum deposit

The firm’s Singapore site names three account types, Standard, Premium and Premium Plus.

Minimum deposit

The firm’s Margin Rules state there is no minimum deposit needed to open an OANDA account, and that the funds available in your account will limit the size of the positions you can hold. So your first trade’s margin requirement, not an account threshold, sets the practical floor.

Accredited investors

The firm states that qualifying for accredited investor status automatically qualifies you for its premium account benefits.

OANDA trading platforms

The firm’s Singapore site names five platforms: OANDA web, OANDA mobile, TradingView, MetaTrader 4 and MetaTrader 5. What I like here is the choice: the firm states you can use TradingView, MetaTrader 4 or MetaTrader 5 from your OANDA account, so one login can carry you onto the platform you already know. In my opinion that matters more for day-to-day comfort than any single platform’s name.

OANDA execution speed and slippage

Our global panel of 36 brokers measured OANDA at 84 ms for market orders, ranking 2 of 36, and 86 ms for limit orders, ranking 5 of 36. Those figures come from our global broker test; no fill time on this page was measured on a Singapore account.

A fill time tells you how quickly an order was matched, not the price you got, so it does not capture slippage on your fills. Fast execution narrows the window in which the price can move against you between order and fill, but the spread and the firm’s pricing structure still decide most of your cost. Treat the panel figures as a signal about the brand globally, and check the pricing above for what you will actually pay.

OANDA markets

OANDA leverage and margin for Singapore clients

Table 18 of the Fourth Schedule to the Securities and Futures (Financial and Margin Requirements for Holders of Capital Markets Services Licences) Regulations (Rg 13), regulation 24A, sets the minimum margin as a percentage: 5% for a retail customer (20:1, our arithmetic) and 2% for an accredited, expert or institutional investor (50:1, our arithmetic).

That rule binds every MAS licensee alike, so it is not this firm’s advantage or its constraint. The firm’s risk warning states that leverage trading is high risk and losses can exceed deposits.

How OANDA compares with MultiBank Group and IG

On the pricing the firms state, the comparison is only as good as each firm’s own advertising. IG states an EUR/USD minimum of 0.6 pips and an average of 1.04 pips on its IG CFD account, figures from its own published table. OANDA’s own advertised figures sit in the costs section, and IG’s stated minimum sits below OANDA’s stated Spread only minimum there.

On the score, both rivals are behind: MultiBank Group holds 80.3 out of 100 and IG holds 68.2 out of 100, against OANDA’s 92 out of 100, each on the basis of our global broker test, not a Singapore test. In my opinion the score gap is wide enough that pricing alone would not close it, but a trader who values IG’s average-spread disclosure over a minimum figure has a real choice to weigh.

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	1,237	10 September 2026
TradingView	4.6 / 5	33,224	10 September 2026
App Store (United States)	4.7 / 5	23,824	10 September 2026
Google Play	4.6 / 5	8.7K	10 September 2026

OANDA holds a Trustpilot rating of 3.5 out of 5 from 1,237 reviews, checked 10 September 2026.

On TradingView, OANDA is rated 4.6 out of 5 from 33,224 ratings, checked 10 September 2026. The TradingView profile for OANDA shows 323.1K traders, the count of those who have connected an account through TradingView. TradingView shows the Best 2025 badge on the profile.

OANDA's app OANDA - Forex trading is rated 4.7 out of 5 from 23,824 ratings on the United States App Store, checked 10 September 2026.

OANDA - Forex trading broker is rated 4.6 out of 5 on Google Play (United States store) from 8.7K reviews shown worldwide, checked 10 September 2026.

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

Should you open an account with OANDA?

Yes, I would open an account with OANDA Asia Pacific Pte. Ltd. if I were a Singapore trader who wanted a MAS-licensed firm with a wide CFD range, a stated zero minimum deposit, PayNow funding and accredited investor terms. The absence of negative balance protection is the fact I would weigh most heavily first.

I would still open one, but the non-SGD withdrawal fee in the costs section cuts against the firm for a trader funding from outside Singapore dollars. Before depositing, check the MAS Financial Institutions Directory yourself for the firm’s licence record, and read the firm’s Singapore charges and customer agreement pages for the terms that will apply to your account.