OANDA

4.7/ 5

OANDA is a veteran forex broker established in 1996 and one of the few brokers accepting US clients, regulated by the CFTC and NFA. Offering no minimum deposit, a powerful TradingView-integrated platform, and access to extensive forex data and research tools, OANDA is a trusted name especially among US and Canadian traders.

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Min. Deposit

Spread From

1.0 pips

Regulation

CFTC, FCA, ASIC

Full Review

Overview

OANDA was established in 1996 and is one of the most trusted forex brokers globally, particularly for US and Canadian traders where regulatory options are limited. The broker is regulated by CFTC/NFA, FCA, ASIC, MAS, JFSA, and CIRO, and recently announced an acquisition by FTMO (August 2025). OANDA's platform is built on TradingView's technology and offers extensive forex market data and historical pricing tools.

Pros

US clients accepted: One of very few regulated forex brokers accepting US residents
No minimum deposit: Open an account with any amount
Strong research tools: Extensive economic calendar, market news, OANDA Order Book, and historical data
TradingView-powered platform: Full TradingView chart integration within OANDA's own platform (US/UK/Canada)
Reliable for decades: 30-year track record with no major scandals or regulatory issues

Cons

High standard spreads: EUR/USD averages 1.69 pips on the standard spread — expensive for active traders
Core pricing requires $10,000: Competitive pricing with $5/side commission requires a $10,000 minimum balance
Limited education content: Fewer educational resources than XM, IG, or eToro
Elite Trader program US/Canada only: Active trader rebate program limited to two regions
No shares or ETFs: Purely forex and CFD offering; no stock investing

Spreads & Fees

Account Type	EUR/USD Spread	Commission	All-In Cost
Standard	Avg 1.69 pips	None	~1.69 pips
Core (min $10,000)	Avg 0.40 pips	$5.00/side	~1.40 pips

Overnight (Swap) Fees: OANDA publishes all swap rates; no surprises. Withdrawal Fees: Free via most methods. Inactivity Fee: $10/month (some jurisdictions) after 12 months of inactivity.

User Reviews8

Steven T.

5/5

As a US trader, my options are limited. OANDA is simply the best regulated choice available here. The TradingView integration is excellent and the platform is reliable. Trust is everything in this business.

Amanda J.

4/5

The OANDA Order Book tool is genuinely useful for seeing where the crowd is positioned. Good research tools and reliable execution. The spreads are higher than offshore brokers but the regulation is worth it.

Brian L.

3/5

Good broker for casual trading but the 1.69 pip EUR/USD average is hard to justify when ECN brokers charge under 0.80 pips all-in. Trustworthy and reliable but expensive.

Linda M.

5/5

30 years in business and still going strong. I've been with OANDA for 8 years without a single issue. For US residents who can't use Pepperstone or IC Markets, this is the gold standard.

Derek F.

2/5

The Core pricing requires $10,000 which is out of reach for most retail traders. And even then the all-in cost isn't that competitive. For US traders there aren't many choices though.

Rachel K.

4/5

The platform is smooth and the TradingView integration makes chart analysis much easier. Good mobile app too. I'd give 5 stars if the spreads were more competitive.

George W.

5/5

OANDA's historical data and market analysis tools are unmatched. As a macro trader I rely heavily on their economic data. The broker itself is very trustworthy with CFTC regulation.

Yuki N.

3/5

Decent broker but nothing special. The Elite Trader program isn't available outside US/Canada which is frustrating. Good platform and reliable execution though.

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