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Oanda is a global broker that provides access to the global market through a simple and easy-to-use platform. Traders and investors can profit from currency pairs, stocks, precious metals, commodities, indexes and cryptocurrencies at low cost.
The world power was founded in 1997 by computer scientist Dr. Stumm and economist Dr. Olsen as a company that publishes currency-converted prices online for free.
Over the years, the company has grown to accomplish impressive feats such as the introduction of fractional pipettes (called pipettes) and becoming Japan’s largest Forex broker. Today, they are connected to the global market and have established themselves as a multi-asset securities firm serving individuals and institutions around the world.
This review details Oanda’s trading platform, the assets it offers, and how individuals and institutions can benefit from it.
Oanda started as a Forex trading platform, but has since expanded to trade about 7 types of assets.They are included
Oanda offers 68 currency pairs including majors like EUR / USD, minors like GBP / CAD and exotics like USD / MXN. Its spread ranges from 1.4 pips for the main pair to 4.1 pips for the more exotic pair.
The broker derives the Forex prices from the liquidity provider and aggregates them to find the midpoint. This mid-price is not fixed, but fluctuates throughout the day, but Oanda claims that the provider is a leading bank and offers a favorable price over its competitors.
Forex trading is available to users in all major geographic regions where currency pair trading is legal.
Oando offers 15 Global Index Contracts for Differences (CFDs) that track markets in the US, UK, Europe, France, Germany, Russia, Singapore and China. Traders can leverage CFDs to lengthen when the market is on the upside or short when the market is on the downtrend.
The price of the index is derived from the futures and spot prices of the underlying asset. Raw prices are adjusted for broker spreads that start at 1 point for indexes such as the UK100 and Germany30 and rise to 30 points for indexes such as the US Russell Index. Note that moving from $ 20 to $ 21 is a 1 point move, as stock and index points are integers.
Oanda’s Commodity CFDs range from natural gas to wheat, corn, crude oil, palladium, platinum, sugar and copper and are available to all users around the world where commodity trading is legal.
Similar to indexes, brokers get commodity CFD prices from futures contracts aggregated from liquidity providers. Spreads start at 0.6 points for natural gas and go up to 200 points for more exotic products such as palladium.
While Oanda’s metal assets are limited to gold and silver, CFDs are paired with major currencies such as USD, GBP, JPY, AUD, CAD, CHF, EUR, HKD, NZD and SGD. Spreads start at 10.1 cents for gold / silver pairs, 25 cents for gold and 150 cents for silver.
Traders can choose up to 7 bond CFDs such as US 10Y Bonds, US 2Y Bonds and UK 10Y Gilt. Spreads range from 1.3 pips to 4.1 pips.
Oanda provides access to about 21 European equities via CFDs, with commissions on each side of the transaction, opening and closing positions, as low as 0.1%. This means that the total commission for a complete transaction is 0.20%.
Brokers also charge for certain corporate behaviors that affect the value of CFDs. For example, paying dividends on long CFD positions in German stocks will incur a 23.67% commission. The price is 19% for Spanish stocks, 15% for Dutch stocks and 15% for French stocks.
Equity CFDs are not available to all traders and are only accessible to traders in the British Virgin Islands and certain regions.
Traders have access to 13 major crypto CFDs with spreads of as low as $ 6 for Litecoin and as high as $ 9000 for Polkadot. Note that these spreads are for full lots, that is, 100,000 units of currency and crypto. For example, a Polkadot / USD 100,000 unit spread is $ 9,045 at the time of writing.
Oanda’s trading terminals include web, desktop, and mobile versions for traders at home and on the go. Brokers also integrate directly with the popular charting software TradingView, allowing traders to trade directly from their favorite trading software.
Oanda accepts deposits in different currencies depending on the region through payment channels such as bank transfer, wire transfer, Visa, Mastercard, Neteller and Skrill. However, there are certain methods in certain areas. For example, US traders can also deposit via PayPal or SWIFT transfers.
Withdrawals are processed first by credit card, then by electronic wallet, then by bank transfer. However, this order may vary by region.
Traders use the MetaTrader 4 Platform Premium Package, or Oanda’s web traders that come with Algo Lab, a platform that helps traders create algorithms using pre-built templates, to execute trades instead. You can access advanced algorithms to do.
The Oanda Assistant bot is available 24/7 via live chat to meet your needs. For those who prefer a personal touch, human agents are available 24 hours a day, 7 days a week via email.
Favorable spreads on CFDs
Available in some major geographic areas
Automatic trading facilities are available
Access to desktop traders’ real-time news feeds and expert technical analysis
Compliant with local regulations
Duty Free Spread Betting Facility
Oanda is home to traders seeking low spreads, rapid execution, professional tools, and global support when trading assets in domestic and international markets.
One way Oando stands out is the use of technology to improve the currency trading market. Initially we did this first and published a free forex quote before developing a trading system that investors could start with for just $ 1.
Today, their cross-platform terminals support algorithmic trading, thanks to a partnership with Algo Labs.
Their FX spreads are favorable, 1.4 pips for major pairs and 4.1 pips for more exotic pairs. Their collection is large enough to accommodate traders who need multiple options with 68 currency pairs, 13 cryptos, 15 indexes, 7 bonds and 10 commodities.
If you’re looking for a globally recognized broker with expert analytics, premium charting software, and an innovative technology platform with the latest news feeds, Oando is a great choice.
Brokers have come a long way from tech start-ups to global financial trading powers. However, keep in mind that even with sophisticated trading tools and robots, CFD trading is a risky venture and 76.6% of Oanda’s retail account holders lose money.
