Like most brokers, Oanda takes a fee from the spread, which is the difference between the buy and sell price of an instrument.
The spreads displayed below are based on the minimum spreads listed on Oanda’s website. The colour bars show how competitive Oanda' spreads are in comparison to other popular brokers featured on BrokerNotes.
|EUR/USD (Average: 0.7 pips)||1.1 pips + $0.00||0.7 pips||0.1 pips|
|GBP/USD (Average: 1.1 pips)||1.7 pips + $0.00||1.7 pips||0.1 pips|
|USD/JPY (Average: 1.1 pips)||1.2 pips + $0.00||0.6 pips||0.1 pips|
|AUD/USD (Average: 0.8 pips)||1.2 pips + $0.00||0.6 pips||0.2 pips|
|USD/CHF (Average: 2.3 pips)||1.6 pips + $0.00||2.3 pips||0.2 pips|
|USD/CAD (Average: 2.9 pips)||1.6 pips + $0.00||0.5 pips||0.3 pips|
|NZD/USD (Average: 3.6 pips)||1.6 pips + $0.00||2.8 pips||0.3 pips|
|EUR/GBP (Average: 2.4 pips)||1.4 pips + $0.00||0.5 pips||0.1 pips|
Spreads are dynamic and are for informational purposes only.
As you can see, Oanda’s minimum spread for trading EUR/USD is 1.1 pips - which is relatively high compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with Oanda vs. similar brokers.See all Spreads
If you were to buy one standard lot of EUR/USD (100k units) with Oanda at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $12. Here’s a rough breakdown of the fees and how this compares against IG & Forex.com .
|Spread from:||$ 12.00||$ 6.00||$ 10.00|
|Total cost of a 100k trade:||$ 12.00||$ 6.00||$ 10.00|
|$6 less||$2 less|
|Visit Oanda||Visit IG||Visit Forex.com|
All fees/prices are for informational purposes and are subject to change.
Oanda offers over 100 different instruments to trade, including over 55 currency pairs. We’ve summarised all of the different types of instruments offered by Oanda below, along with the instruments offered by IG and Forex.com for comparison.
|FX / Currencies||Oanda||IG||Forex.com|
|# of forex pairs offered||55||90||80|
|Major forex pairs||Yes||Yes||Yes|
|Minor forex pairs||Yes||Yes||Yes|
|Exotic forex pairs||Yes||Yes||Yes|
|# of commodities offered||0||34||12|
|Index & Stock CFDs||Oanda||IG||Forex.com|
|# of Stocks offered||0||8000||220|
|See Oanda's Instruments||See IG's Instruments||See Forex.com's Instruments|
Oanda also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.See Oanda 's platforms
With Oanda, the minimum and maximum trade requirements vary depending on the trader and the instrument.
As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.
Finally, we’ve listed some of the popular funding methods that Oanda offers its traders on the right.
Oanda support a wide range of languages including English, Chinese, French, German, Japanese, Korean, Russian, and Spanish.
Oanda has a BrokerNotes double AA support rating because Oanda offer over three languages
As Oanda is regulated by Financial Conduct Authority and ASIC , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:
You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.
While you might be able to explore Oanda’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.
To start the process of opening an account with Oanda you can visit their website here.
CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from www.oanda.co.uk on 01/08/2019.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.