The Benchmark Forex Broker for 30 Years
OANDA was founded in 1996 and is one of the oldest and most respected forex brokers in the world. With 30 years of operation and no minimum deposit, OANDA is regulated in the USA by the CFTC/NFA — one of the strictest jurisdictions for forex brokers. It offers 70+ currency pairs, tight spreads from 0.8 pip on EUR/USD, and is known for transparent pricing, fast execution, and exceptional currency conversion tools used by businesses and developers worldwide.
| 🏛️ Founded | 1996 |
| 📍 Headquarters | New York, USA |
| 📈 Listed on | Private |
| 📜 Regulators | FCA (UK), NFA/CFTC (USA), ASIC (Australia), MAS (Singapore), IIROC (Canada), FSC (BVI) |
| 💵 Min. Deposit | $0 (no minimum) |
| 💰 Stock/ETF Commission | N/A |
| 💱 FX / Spread | From 0.8 pip spread (EUR/USD) on Standard account; 0.3 pip + $3.50/lot commission on Core account |
| 😴 Inactivity Fee | $10/month after 12 months of inactivity |
| 🏧 Withdrawal Fee | Free (domestic bank transfer); $20 for international wire |
| 🖥️ Platforms | OANDA Trade (web/mobile), MetaTrader 4 (MT4), TradingView (integrated) |
| 🎮 Demo Account | Yes (unlimited, no expiry) |
| 🛡️ Investor Protection | FCA (UK): £85,000 FSCS. NFA/CFTC (USA): no SIPC coverage for forex. |
| 👥 Clients | Unknown (private company) |
OANDA offers three platform options: OANDA Trade (its proprietary web and mobile platform with integrated economic calendar, advanced charts, and risk management tools), MetaTrader 4 (MT4 — the industry-standard for algorithmic forex trading), and TradingView (integrated for advanced charting). The OANDA Trade platform is clean and well-designed. MT4 is available for those who need Expert Advisors (EAs) and automated strategies.
OANDA's product range is focused on forex and CFDs: 70+ forex pairs including majors, minors, and exotics; stock index CFDs (US30, SPX500, DE30, UK100, etc.); commodities (gold, silver, oil, natural gas); bond CFDs; and crypto CFDs (Bitcoin, Ethereum, Litecoin). No real stocks, ETFs, or crypto spot trading. OANDA's currency converter API is used by 70,000+ businesses for live FX rate data.
Standard account: spread-only pricing from 0.8 pip (EUR/USD). Core account (UK/EU): from 0.3 pip + $3.50/lot commission. No minimum deposit. Inactivity fee: $10/month after 12 months with no trading and a balance. Free withdrawals via bank transfer (domestic). $20 for international wires. Overnight financing (swap) rates apply to positions held overnight.
| Stocks & ETFs | N/A |
| Forex / Spread | From 0.8 pip spread (EUR/USD) on Standard account; 0.3 pip + $3.50/lot commission on Core account |
| Inactivity fee | $10/month after 12 months of inactivity |
| Withdrawal fee | Free (domestic bank transfer); $20 for international wire |
| Min. deposit | $0 (no minimum) |
OANDA is regulated by the CFTC and NFA in the USA — one of the most demanding regulatory frameworks globally. Also regulated by FCA (UK), ASIC (Australia), MAS (Singapore), and IIROC (Canada). Client funds are held in segregated accounts at tier-1 US banks. UK clients: £85,000 FSCS protection. OANDA has been operating for 30 years without any major regulatory sanction. It has also passed multiple voluntary audits.
| Regulators | FCA (UK), NFA/CFTC (USA), ASIC (Australia), MAS (Singapore), IIROC (Canada), FSC (BVI) |
| Investor Protection | FCA (UK): £85,000 FSCS. NFA/CFTC (USA): no SIPC coverage for forex. |
| Publicly Listed | Private |
Available globally. Regulated in UK, USA, EU, Australia, Singapore, Canada. Some restrictions apply in certain countries.
OANDA is the best forex broker for traders who prioritise trust, regulation, and longevity. Its 30-year track record, no minimum deposit, NFA/CFTC regulation (USA), and tight spreads make it the benchmark for forex. The main limitation is that it only offers forex and CFDs — not suitable for stock or crypto investors.
* CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider.