OANDA Review 2026
OANDA is a 28 year old US broker with CFTC regulation, but its web platform is dated and Trustpilot shows 35 percent 1-star reviews.
Min Deposit
$0
Spreads From
0.6 pips
Max Leverage
1:50
Platforms
3
Pros
- Fully CFTC-regulated and accepting US traders
- Also holds FCA, ASIC, and IIROC licenses for international reach
- Over 28 years operating as a visible, established brand
- No account minimums and no inactivity fees
- Transparent about trader loss rates (70 percent CFD, 89 percent forex)
Cons
- The OANDA Trade web platform feels dated compared to modern competitors
- Only MetaTrader 4 available, not the newer MetaTrader 5
- Only forex, commodities, and bonds; no stocks or crypto
- Trustpilot shows 35 percent 1-star reviews citing slow service
- Withdrawals sometimes take 5 to 10 business days
- Clients report sudden account closures without clear reason
- Spreads on Standard accounts (1.4 pips) are wider than raw ECN brokers
OANDA started in 1996 as a currency trading service, then pivoted to a retail forex broker. It is headquartered in New York and serves US clients through its own CFTC/NFA entity, plus international clients through FCA (UK), ASIC (Australia), and IIROC (Canada) licenses.
OANDA only offers forex, commodities, and bonds—no stocks or crypto. The OANDA Trade web interface is basic and does not compete with modern platforms. MetaTrader 4 is available but not newer MetaTrader 5. TradingView charting is linked in. Spreads on USD pairs average 1.4 pips for retail, 0.6 for Core clients. No commission charges apply.
Trustpilot scores OANDA at 3.7 out of 5 from about 2,000 reviews. Roughly 35 percent are just 1 star. Complaints describe slow customer service, accounts closed with no reason, and an older technology stack that feels stale next to newer competitors. Real withdrawn money has taken 5 to 10 business days in some cases. OANDA does publish clear data on its trader loss rates: 70 percent of retail lose money on forex.
Standard
Core
70+ currency pairs available for trading
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
Regulators
Platforms
- CFTC/NFA (USA)
- FCA (UK)
- ASIC (Australia)
- IIROC (Canada)
