Sep 23 2020
OANDA Broker Review, Trading Experience At OANDA Broker
I just joined Forex at the end of September 2019. And fortunately, after 3 months of research, I chose Oanda to be my first broker. I will review the extent of my observations using this broker.
As for Oanda's regulations, it's the main top markotop, Oanda is regulated by the CFTC, IIROC, FCA, MAS Singapore, and ASIC.
So, for capital, the security opportunity is high because it is regulated by regulators in various countries. And especially for Indonesian traders, if something happens the closest regulator is Singapore/Australia.
To be honest, at first it was a bit difficult to register, take care of this, pay for Translator services (Not that you can't speak English, but Oanda gave you a Translator reference to translate KTP / Bank Account Statement data).
I don't know for sure about other friends, but at that time I sent the file, a representative from Oanda Singapore will contact us by phone call and later there will be a short interview, our background, trading experience, what is the nominal deposit, etc. Short only 10-15 minutes.
3. Account Type.
OANDA only offers Standard Accounts and Oanda Premium (if I'm not mistaken, this premium is for US Citizens / NON-US Citizens with a minimum balance of $20,000/$25,0000). The advantages are the cheaper Overnight Fee and priority live support.
4. Minimum Deposit & Leverage.
0$, so adjusted to each pocket. The MAX leverage is at 1:100. For US Citizens 1:50 Max.
So far for a full year I have done several WDs, for Indonesian there are only Wire Transfers and Debit Cards. The fees are quite large, around $25-$35 for the first fee. For a Debit Card, I once used Jenius for a Depo and as a result, the Visa Network rejected the WD. Finally my card was blocked by the OANDA system. But my BCA has been verified by the OANDA system, so withdrawal is safe. Process 1-3 days. It doesn't matter, it's important to get to the account. From the advertisement for WD 1 Minute, it turns out to be a traffic jam, which is better haha.
Yep, FXTrade, MT4, MT5 for Japanese Citizens. FXTrade is good at its flexible size. Units can be arranged. But for the FXTrade Web Platform, I don't recommend it because the Market Live is a little lagging. The good thing is, OANDA can be integrated with Tradingview. I'm 90% sure I use this, so, want to trade? you can directly from Tradingview, without having to go to MT4. And all types of accounts can be used, both for fxtrade accounts and MT4 accounts.
So, yes, Oanda's spread might not be the best, but overall it's not the worse one.
That's all for the review, anyway, Oanda rarely advertises, the IB doesn't exist (I haven't found it yet), but the broker is prestigious hihi. Until now, it has not been thought of looking at other brokers. And it's a shame you still have to use a VPN for connectivity, because it's blocked by the Minister of Communication and Information.
If anyone wants to be corrected please, thank you and greetings profit.
Sep 25 2013
Oanda Is Still The Best
From the first year until now, I traded with OANDA and still consider this broker the best and most trusted. The first time I traded with you, I realized that the lot positions were flexible and the platform was very easy to use. So, it was easy for me (new to trading then) to open or close and modify my orders.
My criticism about OANDA is that the spread is wide on Saturdays and Sundays, so I must trade on weekdays. A little troublesome. But I'm already compatible with Oanda.