scambrokersreview.com
| Regulation | FCA (UK), ASIC (Australia), CFTC (USA), MAS (Singapore), IIROC (Canada) |
| Founded | 1996 |
| Min. Deposit | USD 0 |
| Platforms | OANDA Trade, MT4, TradingView |
| Spread From | 0.8 pips (avg Standard) |
Overview
OANDA is one of the oldest and most respected forex brokers in the world, founded in 1996 and regulated across five major jurisdictions. Known for its transparency, extensive historical data, and proprietary trading platform, OANDA serves both retail and institutional clients globally.
Regulation and Safety
OANDA is regulated by the FCA (UK), ASIC (Australia), CFTC and NFA (USA), MAS (Singapore), and IIROC (Canada). This makes OANDA one of the most heavily regulated forex brokers in the world. US and Canadian clients are served through dedicated regulated entities, an unusual commitment for a retail broker.
Trading Conditions
OANDA offers competitive spread-inclusive pricing from 0.8 pips on EUR/USD for standard accounts, or raw spreads from 0.4 pips with commission on Core accounts (not available in all regions). No minimum deposit is required in most jurisdictions, making it highly accessible for new traders.
Pros and Cons
- Regulated in USA, UK, Australia, Singapore, Canada
- No minimum deposit requirement
- Excellent proprietary OANDA Trade platform
- Historical currency data going back to 1990s
- Suitable for both beginners and experienced traders
- Higher spreads than pure ECN brokers
- No cryptocurrency CFDs in US
- Complex fee structure with multiple account types
- Platform interface has a learning curve
Verdict
OANDA is an excellent choice for traders who prioritise regulatory safety above all else. Its regulation by five major authorities, no minimum deposit, and strong platform offering make it particularly suitable for US and Canadian traders who have limited broker options. Spreads are competitive though not the lowest available.
