Overview
OANDA is a forex and CFD broker that's been around since the late nineties, and it's one of the few big names that takes US clients through OANDA Corporation, an NFA member. Outside the US you'll land with a local entity: the FCA in the UK, ASIC in Australia, MAS in Singapore, the KNF in Poland through OANDA TMS Brokers, or the BVI FSC for OANDA Global Markets. It suits forex traders who care more about regulation and a good API than a huge product list.
Accounts and costs
The standard account has no minimum deposit. Pricing is spread only, starting around 0.6 pips on EUR/USD and 1 point on the UK 100. Core pricing gives you a tighter spread plus a fixed commission, but reviewers put the entry point at $10,000. UK clients who meet the professional tests can get up to 1:100 on forex, at the cost of negative balance protection. US clients are capped at 1:50 on forex, and the BVI entity goes much higher.
Platforms and markets
You get OANDA's web platform and app, MT4, MT5 and TradingView on one login. Which one you can use depends on the sub-account: the v20 side runs MT4, the API and the OANDA web platform, while OANDA One runs MT5 and adds share and ETF CFDs. Forex is the core, with 65+ pairs, plus indices, commodities, metals and bonds. US individual accounts can also trade spot crypto. The range changes a lot by region.
Money in and out
You can fund by bank transfer or debit card, and some entities take PayPal or Neteller. Card withdrawals are free, but bank wires carry a fee, around £10 in the UK. US accounts pay $10 a month if they sit dormant for over a year.
Good
- Regulated by the NFA/CFTC, FCA, ASIC, MAS, KNF and others
- No minimum deposit on the standard account
- Choice of OANDA web and app, MT4, MT5 and TradingView on one login
- Well-documented API for automated trading
- Tax-free spread betting sub-account for UK clients
Watch for
- Market range depends heavily on which OANDA entity you join; UK clients see far fewer instruments
- Bank wire withdrawals carry a fee
- US accounts pay a $10 monthly inactivity fee after a year without trading
- Core pricing needs a $10,000 deposit
Accounts and costs
What each account needs to open and what you pay to trade on it.
| Account | Min deposit | Pricing | Max leverage |
|---|---|---|---|
| Standard account (UK) | None | Spread only, from 0.6 pips on EUR/USD and 1 point on the UK 100 | — |
| Professional account (UK) | — | Same spread pricing, for clients who pass two of three trading, portfolio and experience tests | 1:100 on forex (professional clients, UK) |
| Spread-only account (US) | None | Commission built into the spread | 1:50 on forex (US clients) |
| Core pricing + commission | $10,000 | Reduced spread plus a fixed commission per trade | Up to 1:888 with OANDA Global Markets (BVI) |
Regulation
Which entity holds which licence. Your protection depends on the entity you open an account with.
Platforms and markets
Platforms
Markets
Deposits and withdrawals
- Methods
- Bank transfer, Card, PayPal, Neteller
- Minimum deposit
- None
What traders say
Scores from the sites traders use, and our summary of what they're saying, checked 6 October 2026.
OANDA gets a split verdict. Its main Trustpilot page has about 1,200 reviews, and a comparison site puts the score at 3.7. The Asia Pacific page shows 4 stars from about 107. Sitejabber has only 7 reviews, averaging 1.6. Forex Peace Army, Myfxbook and TradingView all host long review threads, but the bundle shows no score for them. Praise centres on the platforms and a long record. Complaints centre on withdrawals and accounts that were frozen.
What traders like
Easy platforms and integrations. Reviewers on Myfxbook, TradingView and Reddit like the clean web app, the API and the links to TradingView and Myfxbook.
Flexible trade sizes. Several Reddit users like being able to trade odd lot sizes and partly close a position.
A long history and US regulation. Many treat its 25 or so years in business and its regulators as the main reason to trust it.
Help when opening an account. Several Trustpilot reviewers mention a call from staff within a day or two of signing up.
Common complaints
Withdrawals that stall. Many low reviews on Forex Peace Army, TradingView, Sitejabber and Reddit describe withdrawals that were declined or held for weeks. The usual cause given is the rule that money goes back to the card used to deposit, which hurts when that card has expired.
Accounts locked during checks. Some say trading was switched off while documents were reviewed, or after they went over a risk limit, with slow replies.
Support that goes quiet. Several say calls and emails went unanswered once a dispute started.
Spreads and execution. A few long-time users mention wider spreads in fast markets, positions being merged into one, and trades cancelled after the fact.
Recently
July 2026: new Forex Peace Army reviews describe blocked funds and accounts switched off while documents were checked.
August 2026: one review site cites a broker database that logged about 100 complaints in three months, and a 2025 NFA fine of USD 600,000. These are third-party claims.
Where this comes from
Trustpilot: the main review page.
Trustpilot (Asia Pacific): the regional page.
Forex Peace Army: long reviews and disputes.
Sitejabber: a small set of reviews.
Myfxbook: trader reviews.
TradingView: reviews from TradingView users.
BBB complaints: US complaint cases, mostly about withdrawals.
Reddit search: threads in r/Forex and related subreddits.
Verified reviews
Reviews from traders who've connected an account at OANDA to Chartnaut, so you know they actually traded there. Opening soon.