Founded in 1996, OANDA operates across eight global financial centers, serving clients in over 196 countries through its entities licensed in six major regulatory jurisdictions, including the US, UK, Canada, Australia, Japan, and Singapore.
Onda currency calculator tools use OANDA Rates™, the touchstone foreign exchange rates compiled from leading market data contributors. The rates are trusted and used by major corporations, tax authorities, auditing firms, and individuals around the world.
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, and customer accounts are protected by the Canadian Investor Protection Fund within specified limits.
To Start Trading With Onda Indian Residents First Have To Sign Up For An Account By Following The Steps Below.
Step 1. Click On The “Login/Signup” Link On The Top Right Hand Corner Of The Onda Website.
Step 2. In The Form, Fill In Your First Name, Last Name, Mobile Number, Email ID And Password.
Step 3. If You Have A Referral Code, Enter The Code While Creating Your Account.
Step 4. Submit The Form And Wait For An Activation Email To Be Sent To You.
Step 5. Click On The “Confirm Email” Link In The Activation Email.
Step 6. After Your Account Is Activated, You’ll Be Sent A 6 Digit One Time Password (OTP), Which You Have To Enter After Logging Into Your OndaExchangeAccount.
Oanda Trading Fees
The know it’s hard to compare trading fees for forex brokers. So what we did was we compared brokers by calculating all the fees of a typical trade for selected products. The picked popular instruments within each asset class usually offered by forex brokers:
Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP
Stock index CFDs: SPX and EUSTX50
A typical trade means buying a leveraged product, holding it for one week and then selling it. For volume, we chose a $20,000 position for forex and a $2,000 position for stock index and stock CFD transactions. The leverage we used was:
30:1 for forex
20:1 for stock index CFDs
These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let’s see the verdict for Oanda fees.
Oanda forex benchmark fees of a $20,000 30:1 long position held for one week
EURUSD benchmark fee
GBPUSD benchmark fee
Oanda’s Trading Platform
Oanda offers the following platforms:
Web trading platform
Desktop trading platform
Mobile trading apps
OANDA continually publishes a trailing average of its average spread across nearly all timeframes, as part of its push for greater transparency with pricing. However, because it does not publish a specific number that reflects the average spread over a fixed period, such as one day or one month, it is difficult to make a more precise comparison.
Onda fxTrade mobile app is easy to use, provides quality market research, and includes excellent charting features (33 technical indicators). That said, like its desktop and web-based counterparts, it lacks in other areas important to everyday forex and CFD traders.
Is OANDA Safe?
OANDA is considered low-risk, with an overall Trust Score of 89 out of 99. OANDA is not publicly traded and does not operate a bank. OANDA is authorised by six tier-1 regulators (high trust), zero tier-2 regulators (average trust), and zero tier-3 regulators (low trust). OANDA is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC).
On the other hand, Oanda’s protection in the eventuality of a default is limited. In the U.K., client funds are protected up to £50,000, while in Canada, up to CAD $1 million is protected. In other countries it operates in, there is no protection. Because of its excellent security, FOREX.com jumps ahead of Oanda.
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One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.