The Oanda forex broker offers competitive spreads and no commissions. It also offers a smooth trading platform and educational videos. These things make this broker one of the best in the industry. However, these factors are not enough to decide if Oanda is the right broker for you. Read on to learn more about OANDA.
OANDA forex offers highly competitive spreads
OANDA forex offers highly competitive spreads in the forex market. The broker’s automated machine tracks global prices, adjusting its spreads accordingly. It will respond by widening its spreads if the market is volatile or liquid. The broker’s website clearly explains the details of its spreads. You can choose between a spread-only or a spread-plus-commission account. OANDA also offers an account with a fixed trading commission, which starts at $50 per million dollars.
OANDA’s help portal is massive, with helpful FAQs and specialized support. You can access it by clicking on the Help link on the website. You can use the search bar to locate the answer to find a specific topic. In addition, Oanda has a live chat service that is available 24 hours a day.
OANDA forex offers highly competitive spreads on several CFD instruments around the world. This broker also features a flexible pricing model with transparent pricing. For example, its DE 30 and UK 100 CFDs start at 0.9 points, while the USD/JPY and Brent Crude are three points higher. The company offers prices on more than 70 currency pairs and indices. OANDA also offers a demo account where you can practice trading with guaranteed stop losses.
It does not charge any commissions.
When it comes to commission-free trading, Oanda forex is a great choice. This broker does not charge any commissions on any of its products and boasts many overseers. Still, the information it offers is somewhat limited compared to what other brokers offer. Oanda does have its market analyst, Craig Erlam, who offers commentary on macroeconomics and technical analysis.
In addition to not charging commissions, Oanda offers a range of other advantages. The platform does not charge commissions on trading; its trading costs are fixed or based on the traded volume. If you use leverage and trade frequently, trading fees on Oanda are low and not prohibitive. Oanda also offers several bite-sized emails on account opening processes and brokerage comparisons.
Oanda has an excellent customer support team. There are no minimum deposit requirements. You can deposit as little as $100 or as much as $10,000. If you have a larger deposit, you can opt for a premium account with discounted spreads, a partner platform subscription, and free wire transfers.
It offers educational videos.
The OANDA forex education portal has an interactive interface and various resources to help traders. The tutorials include fundamental and technical analysis, how to open and close trades, and understanding real-time pricing trends. The videos also teach clients how to manage risk. In addition to video tutorials, OANDA also offers articles on trading strategies and demo account tutorials. Depending on your needs, you can choose the right resource for you.
The OANDA Forex Academy’s educational videos are available for free. There is no minimum deposit and no monthly maintenance fee. The videos provide insights on fundamental and technical analysis and macroeconomic commentary. The videos also feature interviews with financial experts like Panmure Gordon Chief Economist Simon French and Francis Coppola, who talk about the state of the financial markets in 2019.
Besides educational videos, OANDA also offers webinars that cover important topics in the forex world. There are webinars on tools, capital management, and investing. These webinars are great for newcomers as well as seasoned traders.
It has a smooth trading platform.
Oanda’s proprietary desktop platform is easy to use. It lets you set many values and view your margin exposure. Oanda has regular maintenance and fixes any problems with the platform. The platform is also available for mobile devices. You can access the market news and economic calendars.
There are several paid features available for new customers. These include unlimited monthly quotes, daily ask rates and average and mid bids. You can also access educational resources on the website. However, Oanda’s assets are disorganized and may be difficult to navigate. This may hamper your trading experience. Moreover, Oanda does not have an ECN broker. This may be a problem for some who would prefer lower spreads.
Sixty-one jurisdictions in the world regulate the company. They adhere to regulations to protect their traders and keep their fees low. However, they could improve some aspects of their customer service. For instance, they could be faster at responding to queries. Despite these problems, Oanda is a good trading broker for people worldwide.