Forex Trading Overview » Oanda Review http://forextradingoverview.com Forex Software Reviews | Forex Education | Forex Trading Strategies Wed, 01 Jun 2011 10:53:25 +0000 en hourly 1 Oanda Review http://forextradingoverview.com/oanda-review/ http://forextradingoverview.com/oanda-review/#comments Thu, 22 Oct 2009 05:53:00 +0000 Forex Trader http://forextradingoverview.com/?p=640
Rating: 5.0/5 (4 votes cast)

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Oanda - Best Forex Broker

Reviewer: Forex Trader
Website Reviewed:
Official OANDA Website
Type: Online Forex Trading Broker


»» Visit www.oanda.com ««

OANDA is a market maker that employs the use of innovative and advance financial technology and trading tools to enhance internet-based forex trading. The most intensely used and best known global tool of Oanda is the online currency converter. But OANDA’s greatest pioneering product is the round-the-clock forex trading platform which allows the execution of very small transactions in the currency market.

OANDA as a brokerage firm started its operations in 1995 as an online foreign currency exchange informant. It has continued over the years in its stride towards becoming industry leader in a very competitive market. OANDA is well suited in the financial world in that it provides quality information and services to hundreds of financial related businesses and web sites for their internet presence. For online stores that require automated foreign exchange tools and services in their daily accounting and corporate applications, then employing the use of OANDA’s currency tools should be a welcome idea. This is possible via if the client can subscribe to any of OANDA’s most popular rate services and begin using it on their website. OANDA employs the use Secure Sockets Layer for its encryption and the protection of clients personal information during the transmission of sensitive information between clients and OANDA. It is estimated that about 20% of the world’s online currency transaction is transmitted via OANDA’s servers.

OANDA is registered with the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association with NFA ID #: 0325821.

For some of you out there that have not used OANDA’s services, I would love to outline some Pro’s and Cons when using this online retail broker.

Advantages of Oanda Forex Broker:

There are no deposit/withdrawal fees using checks, while clients can choose to deposit/withdraw via Bank transfer & paypal.
OANDA uses a web based trading platform and thus reduces the risk associated with the download of trading software. Meanwhile, you can use the web based platform on live as well as virtual accounts.
OANDA offers a minimum account size of $1.
With a fast execution on OANDA, clients are guaranteed a speedy trade execution once entered.
Although OANDA offer variable spreads, it sure does offer one of the lowest spreads out there.
The customer support on OANDA is very friendly and clients can always get handy and helpful support.
I must not fail to mention the fact that OANDA’s web based trading platform offers numerous indicators alongside a graphical representation that offers a click-and-drag movement of stop losses, take-profits and placing orders.
Over the years OANDA has been able to provide several wire transfer accounts in different regions, thus reducing the cost for deposits via wire transfers.

Disadvantages of Oanda Forex Broker:

OANDA does not offer a MetaTrader 4 platform and sometimes has issues with slippage.
It employs a Java based trading platform.
During news we could experience widening of spreads.

It is important to note here that for some people out there who loses money trading forex and portion the blames to a particular broker, should rather go back to the educational drawing board, get adequate training and come back to OANDA.

Visit The OANDA Website

Find out more about Interbank FX Forex Broker and read FXPro Forex Broker Review.


Rating: 5.0/5 (4 votes cast)

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