OANDA Review: Regulation, Fees and Accounts
OANDA
British Virgin Islands
Your money is at risk
OANDA overview: what kind of broker is it?
OANDA is a Match principal broker forex and CFD broker based in British Virgin Islands, founded in 1996, The chat languages available are - English, Mandarin, Spanish, German. Regulation: BVI Financial Services Commission, number: SIBA/L/20/1130.
Traders get MT4 desktop and web and mobile, spreads from 0.6, leverage up to 888:1 and a No minimum deposit minimum deposit. New clients can also check the current Tighter spreads on gold.
Tradable markets include Forex Currency Pairs, Commodities, CFDs on Indices, Spot Metals, Share CFDs, Energies, Crypto CFDs.
OANDA broker specifications
Company and regulation
| Broker | OANDA |
|---|---|
| Regulated by | BVI Financial Services Commission, number: SIBA/L/20/1130 |
| Type of broker | Match principal broker |
| Country | British Virgin Islands |
| Foundation year | 1996, The chat languages available are - English, Mandarin, Spanish, German |
| Website | Visit OANDA website |
| Website languages | English, Spanish, Vietnamese, Portuguese, French, Chinese, Thai and Malay Bhasa and Indonesia Bahasa. |
Trading conditions
| Minimum deposit | No minimum deposit |
|---|---|
| Maximum leverage | 888:1 |
| Minimum spreads | 0.6 |
| Base currencies | USD, EUR, HKD, SGD |
| Tradable instruments | Forex Currency Pairs, Commodities, CFDs on Indices, Spot Metals, Share CFDs, Energies, Crypto CFDs |
| Hedging / scalping | Allowed |
| News trading | Allowed |
| Web trading | Web MT4/MT5 |
| Mobile trading | Mobile MT4/MT5 |
Bonus and promotions
| Current promotion | Tighter spreads on gold |
|---|---|
| Welcome bonus | Tighter spreads on gold |
| Standard no deposit bonus | No |
Contact details
| Telephone | 65 6579 8280 (# will be routed to the active CX desk globally) |
|---|---|
| Email / Skype | frontdesk@oanda.com |
| Fax | Not available |
| Head office | PO Box 173, Road Town, Tortola, British Virgin Islands |
| Contact form | Contact OANDA |
OANDA pros and cons
Pros
- Regulated: BVI Financial Services Commission, number: SIBA/L/20/1130
- Tighter spreads on gold
- Low No minimum deposit minimum deposit
- Spreads from 0.6, Match principal broker execution
- MT4 desktop and web and mobile and more platforms
- Islamic, VIP and managed accounts
- 4 deposit and withdrawal methods
Cons
- No no-deposit bonus
- Bonus comes with trading-volume rules
OANDA account types
OANDA offers several account options so beginners and experienced traders can both find a fit. Live accounts start from a No minimum deposit deposit.
| Free demo account | Yes – practise with virtual money |
|---|---|
| Mini account | No |
| VIP account | Yes – for high-volume traders |
| Islamic (swap-free) | Yes – no overnight swap charges |
| Swap-free account | Yes |
| Managed account | Yes |
| Segregated client funds | Yes |
The OANDA Group News
Co-founded by Dr. Michael Stumm, a computer scientist, and Dr. Richard Olsen, an economist, the company was born out of the belief that the Internet and technology would open up the markets for both currency data and trading.
Acquiring TMS Brokers
OANDA enters into an agreement to acquire 100% of the shares of leading Polish multi-asset class broker, Dom Maklerski TMS Brokers, creating a base from which to grow across the Baltics and Eastern Europe.
New leadership
With more than 25 years of experience in the financial services industry, Gavin Bambury is OANDA’s Chief Executive Officer and an Executive Director of the OANDA Board, based in London.
CVC - Leadership team
Introducing a new era for the firm, OANDA is acquired by CVC Capital Partners, a leading private equity firm that currently manages in excess of USD70 billion in assets around the world.

OANDA trading platforms
OANDA runs on MT4 desktop and web and mobile, which give you advanced charts, more timeframes, an economic calendar and support for expert advisors.
Tighter spreads on gold
We’ve narrowed our spreads. You can now trade gold with just a 10 cent spread in 0.1 lots. Make the smart choice and trade with us.
Safe haven
Considered a safe haven commodity, gold is one of the most widely traded metals in the world today.
The smart choice
With such attractive spreads, gold is the right choice for smarter traders. Choose to trade on MT4, MT5 or our award-winning mobile app*.
No account verification
Start trading with us in 3 easy steps. Verification documents are not needed when you deposit below US$9,000
Best Trading Tools winner (Online Personal Wealth Awards 2021
Full account verification needed before you can deposit or withdraw over US$9,000

OANDA deposit and withdrawal methods
OANDA supports the deposit and withdrawal methods below. Check the fee and processing time for your method before you deposit.
Banks and cards
E-wallets
Crypto
Withdrawal methods
Is OANDA safe and legit?
OANDA is a regulated broker. BVI Financial Services Commission, number: SIBA/L/20/1130. The broker says client money is kept in segregated accounts, separate from company funds.
Always check the licence number on the regulator's own website. Offshore regulators do not offer the investor compensation schemes or leverage caps of top-tier regulators such as the FCA or CySEC, which is why leverage here can reach 888:1.
Our verdict on safety
OANDA suits traders who understand the risks of leveraged CFD trading. Start small, test a withdrawal early and use sensible leverage.
Risk warning: CFDs are complex instruments and carry a high risk of losing money quickly because of leverage. Only trade if you understand how CFDs work and can afford to lose your money.
Full OANDA review
1996 - 2023 OANDA Corporation. All rights reserved. "OANDA", "fxTrade" and OANDA's "fx" family of trademarks are owned by OANDA Corporation. All other trademarks appearing on this website are the property of their respective owners.
Financial spread betting is only available to OANDA Europe Ltd customers who reside in the UK or Republic of Ireland. CFDs, MT4 hedging capabilities and leverage ratios exceeding 50:1 are not available to US residents. The information on this site is not directed at residents of countries where its distribution, or use by any person, would be contrary to local law or regulation.
OANDA Corporation is a registered Futures Commission Merchant and Retail Foreign Exchange Dealer with the Commodity Futures Trading Commission and is a member of the National Futures Association. No: 0325821. Please refer to the NFA's FOREX INVESTOR ALERT where appropriate. OANDA CORPORATION IS A MEMBER OF NFA AND IS SUBJECT TO NFA'S REGULATORY OVERSIGHT AND EXAMINATIONS. HOWEVER, YOU SHOULD BE AWARE THAT NFA DOES NOT HAVE REGULATORY OVERSIGHT AUTHORITY OVER UNDERLYING OR SPOT VIRTUAL CURRENCY PRODUCTS OR TRANSACTIONS OR VIRTUAL CURRENCY EXCHANGES, CUSTODIANS OR MARKETS.
Trading in digital assets, including cryptocurrencies, is especially risky and is only for individuals with a high risk tolerance and the financial ability to sustain losses. OANDA Corporation is not party to any transactions in digital assets and does not custody digital assets on your behalf. All digital asset transactions occur on the Paxos Trust Company exchange. Any positions in digital assets are custodied solely with Paxos and held in an account in your name outside of OANDA Corporation. Digital assets held with Paxos are not protected by SIPC. Paxos is not an NFA member and is not subject to the NFA’s regulatory oversight and examinations.
OANDA (Canada) Corporation ULC accounts are available to anyone with a Canadian bank account. OANDA (Canada) Corporation ULC is regulated by the Investment Industry Regulatory Organization of Canada (IIROC), which includes IIROC's online advisor check database (IIROC AdvisorReport), and customer accounts are protected by the Canadian Investor Protection Fund within specified limits. A brochure describing the nature and limits of coverage is available upon request or at www.cipf.ca.
OANDA Europe Limited is a company registered in England number 7110087, and has its registered office at Dashwood House, 69 Old Broad Street, London EC2M 1QS. It is authorised and regulated by the Financial Conduct Authority, No: 542574.
OANDA Asia Pacific Pte Ltd (Co. Reg. No 200704926K) holds a Capital Markets Services Licence issued by the Monetary Authority of Singapore.
OANDA Australia Pty Ltd is regulated by the Australian Securities and Investments Commission ASIC (ABN 26 152 088 349, AFSL No. 412981) and is the issuer of the products and/or services on this website. It's important for you to consider the current Financial Service Guide (FSG), Product Disclosure Statement ('PDS'), Account Terms and any other relevant OANDA documents before making any financial investment decisions.
OANDA Japan Co. Ltd. Type I Financial Instruments Business (Director-General of Kanto Local Financial Bureau (Kinsho) Registration No. 2137)/ Commodity Futures Trading Dealers
OANDA Global Markets Ltd is a company registered in BVI number 2026433, and has its registered office at Kingston Chambers, PO Box 173, Road Town, Tortola, British Virgin Islands. It is authorised and regulated by the BVI Financial Services Commission, number: SIBA/L/20/1130.

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