Overall Rating
4.9/5
Rated #194 of
Recommended FX Brokers
Minimum Deposit USD 0
Regulators FCA, CFTC, ASIC, FSC, BVI and IIROC
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
Yes
📈 Total Pairs
45
Islamic Account No
Trading Fees Low
24 Hours
Our OANDA Fees and Spreads Revealed:
Fees and Spreads
The spread list that OANDA offers starts from 0.2 pips on EUR/USD.
The spreads that traders can expect when they use OANDA to facilitate their trades across different financial markets depend on the account type they use, the financial instrument being traded, and the market conditions on the day of trading.
Typical spreads that traders can expect are as follows.
- Standard Account – from 1 pip EUR/USD
- Core Account – from 0.2 pips EUR/USD
- Swap-Free Account – from 1.6 pips EUR/USD
OANDA offers commission-free trading options on the Standard and the Swap-free accounts, but with the Core Account, traders are subject to commissions of $40 per million traded.
Additional Trading Fees
Overnight fees, also known as swap fees or rollovers, are either credited or debited depending on the financial instrument being held and whether the trader is holding a long or short position.
The Standard and the Core Accounts that OANDA provides is subject to such swap fees. However, OANDA offers for the Standard Account to be converted into a Swap-free account, exempting traders from earning/paying such sap fees.
The Swap-free account provides traders access to 26 popular instruments while also subjecting traders to administration fees of between $4 and $7 per lot on all instruments except the Japan 225 Index, which is charged per 100 lots traded. These fees apply if traders hold their positions open for longer than five days.
OANDA is not a spread betting broker which means that the spread betting fee will not apply.
Broker Fees
OANDA does not charge any deposit fees and while withdrawal fees are not indicated, traders may be charged such fees on some payment options. OANDA does not indicate any additional broker fees on its official website. However, conditions may vary and change, which means that traders may be subject to some fees not mentioned in this review.
Pros and Cons
You might also like: OANDA Account Types
You might also like: OANDA Demo Account
You might also like: OANDA Islamic Account
You might also like: OANDA Minimum Deposit
Overall Rating
4.9/5
Rated #194 of
Recommended FX Brokers
Minimum Deposit USD 0
Regulators FCA, CFTC, ASIC, FSC, BVI and IIROC
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
Yes
📈 Total Pairs
45
Islamic Account No
Trading Fees Low
24 Hours
FAQ
How many instruments can I trade with OANDA?
You can trade any of the following instruments.
- Indices
- Forex
- Metals
- Commodities
- Cryptocurrencies
Which platforms are supported by OANDA?
OANDA supports the use of:
- MetaTrader 4
- MetaTrader 5
- OANDA Trading Platform
Does OANDA offer leverage?
Yes, OANDA offers leverage up to 1:200.
What spreads can I expect with OANDA?
You can expect spreads from 0.2 pips EUR/USD on the Core Account.
Does OANDA charge commission?
Yes, OANDA charges a commission of $40 per million traded on the Core Account.
Are there additional charges on the Islamic account?
Yes, there are additional charges applied to the Islamic Account when traders hold their position for longer than five calendar days. When this happens, traders are subject to an administration fee charged per lot traded ranging from as low as $4 up to $7. Traders must note that the Japan 225 Index is charged per 100 lots traded.
Is OANDA regulated and by whom?
Yes, OANDA is regulated by ASIC, FCA, IIROC, MFS, FIBO, BVIFSC, NFA, and MAS.
Is OANDA a recommended forex trading broker for experts and beginners?
Yes, OANDA is recommended for use by beginners as well as experts.
What is the overall rating out of 10 for OANDA?
8/10.
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