OANDA Review 2017
OANDA is an online forex trading platform that provides all the necessary tools for new and experience online traders to conduct forex trading in multiple investment opportunities. It was founded in 1996 and it is one of the original online forex trading platforms available. OANDA has helped shape the online trading business over the past three decades and is still running strong amongst a host of investors.
As mentioned above OANDA was the original founder of online forex trading business. However, over the last three decades OANDA has grown a lot and has innovated itself to transform into a modern and efficient trading platform. It now operates in 4 continents across the globe and has created tools according to the technologies being used in the present day.
OANDA’s Customer Service
OANDA has always kept the customer as the top priority. Even in the Swiss banking crisis, it sided with its clients and safeguarded their interests. OANDA provides 24/6 customer service and its representatives are ready to provide you support and advice according to your needs. OANDA’s mission statement reflects its commitment towards its clients and that in turn guides the staff to be dedicated towards immaculate customer service.
Trading Through OANDA
You can use OANDA’s tools to trade not only forex volumes but also commodities like oil, natural gas, corn, soybeans etc. Forward trading is also fully supported by OANDA. Hence the traders have a wide range of options to select their line of business and what they wish to buy or sell through OANDA.
OANDA provides a great collection of tools to perform online trading tasks. You can access OANDA through your desktop, or through your mobile device. In mobile, they support both Android and iOS, the two most prevalent mobile platforms in the world.
Moreover, OANDA also supports MetaTrader 4 and this opens up a world of opportunities for the customers working with OANDA.
Analysis Tools Provided by OANDA
Being the oldest player in the online trading business, OANDA knows the ins and outs of the business and is in a great position to guide and help its clients achieve the best results. They provide historical spreads, correlation tables, candlestick patterns and volatility graphs to help clients determine the best course of action they can choose to achieve higher gains.
Depositing Funds into OANDA Accounts
OANDA makes it easy for its customers to deposit funds into their accounts for trading. You can use either bank wire transfer, online debit or credit card payments or even Paypal to deposit funds into your trading account.
The minimum deposit requirement for OANDA are extremely low. You can even trade with one dollar in your account! Yes, you read it correct. There is practically no limit on the minimum account deposit. OANDA also works as a ‘Futures Commissions Merchant’. Due to NFA restrictions, OANDA provides maximum leverage of 1:50.
Assets in Addition to Forex
OANDA also allows trading of precious materials like silver, gold, platinum and palladium alongside currencies. You can also trade stock indices instead of actual normal stocks or invest in bonds. The possibilities of trading with the OANDA platform are virtually limitless. The online forex trading market is over 5 trillion dollars, so in this vast ocean, OANDA’s ship will sail you through the high seas.
With OANDA, you can trade in CFDs also. CFDs are basically ‘Contract for Difference’ which means you can buy these financial instruments with reduced risk as there is no need to take possession of any actual assets.
However, CFD trading and precious metal trading through OANDA are not available in certain territories like the USA. This is due to local laws and has nothing to do with OANDA’s platform which supports these features in the rest of the world.
Geographically Diverse Portfolio
OANDA operates in 4 continents and handles accounts from 180+ countries worldwide. This huge size and customer reach means that OANDA needs to deal with some specific investor requirement that are present in only their respective territories. OANDA has been successfully operating its offices in Singapore, UK, Japan and Canada.
Final Thoughts on OANDA
OANDA was one of the pioneers in online forex trading business and after three decades it still remains a market leader. The huge cache of knowledge and experience that OANDA possesses, makes it one of the most reliable and trustworthy partners for your forex trading business.
OANDA practically removes the minimum deposit requirement and welcomes all types of customers to its fold. Even with these minimum account requirements, OANDA has one of the fastest online trading platforms available. Their response rate and processing times are best amongst the industry. Overall, it would be very difficult to find a better partner than OANDA for forex trading.
OANDA caters for the needs of small individual buyers to large institutional buyers. For larger clients with greater trading volume and higher risk, OANDA allows special facilities. These are designed according to the requirements of these large investors.