OANDA review 2026
OANDA has offered online currency trading since the 1990s and is one of the few brokers registered to serve US residents. It is licensed in most major jurisdictions.
Dossier Score for Global
Overall rating in progress: 30% of criteria assessed
Our assessment
Strengths
- Registered with the CFTC and NFA for US clients
- Tier 1 licences in the UK, Australia, Canada, Singapore and Japan
- No minimum deposit
Weaknesses
- Product range differs a lot between entities
- Spreads on standard pricing are not the lowest
- Ownership changed recently, so watch for changes to terms
Best for US and Canadian residents who need a locally registered forex broker.
How this Dossier Score adds up
The score is calculated by a published formula from the five components below. It changes with your country, because the first component follows the company that would hold your account.
Methodology v1.1. How the Dossier Score is calculated. Commissions are not an input.
Regulation and legal entities
A broker brand is usually several companies. The one you open an account with decides your leverage limit, whether you have negative balance protection, and which compensation scheme, if any, covers you.
| Legal entity | Regulator | Licence no. | Max. leverage | Our check |
|---|---|---|---|---|
| OANDA Corporation Serves you United States | CFTC/NFA Tier 1 | 0325821 | 1:50 | Not yet verified by us Open register |
| OANDA Europe Limited Serves you United Kingdom, FSCS up to £85,000 | FCA Tier 1 | 542574 | 1:30 | Not yet verified by us Open register |
| OANDA Australia Pty Ltd Serves you Australia | ASIC Tier 1 | 412981 | 1:30 | Not yet verified by us Open register |
| OANDA (Canada) Corporation ULC Serves you Canada | CIRO Tier 1 | To be confirmed | Varies | Not yet verified by us Open register |
| OANDA Asia Pacific Pte Ltd Serves you Singapore | MAS Tier 1 | To be confirmed | Varies | Not yet verified by us Open register |
| OANDA Japan Inc. Serves you Japan | JFSA Tier 1 | To be confirmed | 1:25 | Not yet verified by us Open register |
| OANDA Europe Markets Ltd Serves you Malta | MFSA Tier 2 | To be confirmed | 1:30 | Not yet verified by us Open register |
| OANDA Global Markets Ltd Serves you British Virgin Islands | BVI FSC Tier 3 (offshore) | To be confirmed | Varies | Not yet verified by us Open register |
Key facts
- Founded
- 1996
- Headquarters
- United States
- Publicly listed
- No
- Group regulators
- CFTC/NFA, FCA, ASIC, CIRO, MAS, JFSA, MFSA, BVI FSC
- Minimum deposit
- $0
- Platforms
- Own platform, MetaTrader 4, MetaTrader 5, TradingView
- Execution
- Market maker
- Copy trading
- No
- Islamic account
- No
- Demo account
- Yes
Accounts and fees
Spreads we measured
We have not measured live spreads for this broker yet. Until we do, cost does not count towards its rating.
Platforms and execution
OANDA offers Own platform, MetaTrader 4, MetaTrader 5, TradingView. Execution model as described by the broker: Market maker.
Deposits and withdrawals
We have not run our own deposit and withdrawal test with this broker yet. When we do, the log appears here with dates and times.
Country availability
Pick your country in the header to see which OANDA entity would serve you.
Questions readers ask
Is OANDA regulated?
OANDA operates through 8 legal entities in our database, holding licences or registrations with: CFTC/NFA, FCA, ASIC, CIRO, MAS, JFSA, MFSA, BVI FSC. Which entity you sign up with depends on where you live, and so does the protection you get. Check the licence number on the regulator's own register before you deposit.
What is the minimum deposit at OANDA?
OANDA advertises a minimum first deposit of $0 on its entry-level account. The amount can differ by entity, account type and payment method.
Which trading platforms does OANDA offer?
OANDA offers: Own platform, MetaTrader 4, MetaTrader 5, TradingView. Platform availability can vary between its entities.
Is OANDA a safe broker?
No broker is risk-free. Our Global Dossier Score for OANDA is 54 out of 100. The score reflects the regulator tier of the entity that serves you, the group's other licences, company structure and track record. It says nothing about whether trading will be profitable for you.
CFDs and leveraged forex are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail accounts lose money when trading CFDs. Consider whether you understand how these products work and whether you can afford the high risk of losing your money.
Alternatives that share a regulator
| Broker | Dossier Score | Entity serving you | Min. deposit | Platforms | Actions |
|---|---|---|---|---|---|
| CMC Markets Founded 1989 Listed | 91 | CMC Markets UK plc FCA #173730 Tier 1 | $0 | Own platformMT4TradingView | Review Visit siteAffiliate link |
| Interactive Brokers Founded 1978 Listed | 91 | Interactive Brokers LLC CFTC/NFA #0258600 Tier 1 | $0 | Own platformTradingView | Review Visit siteAffiliate link |
| City Index Founded 1983 Listed | 89 | StoneX Financial Ltd FCA #446717 Tier 1 | — | Own platformMT4TradingView | Review Visit siteAffiliate link |
Dossier Score, entity and regulator are shown for the company that would serve your country. Buttons marked “Affiliate link” may earn us a commission. Unmarked buttons go to the broker's own site and earn us nothing.