I notice that most comments here are talking about their spreads and customer service. While I agree that it is remarkable, there are other aspects that separate Oanda from other brokers. I think that their API is the best in its class, I truly think that this is one of the best of all brokers I have tried in the past 5 years. Furthermore, they also offer free FIX connectivity, plus a Java API, and MT4 support. They also have top notch IMO on top of that. However, I feel like their withdrawal is a little bit of a letdown, but that is okay. It's not like they kept my money forever, it just took a really long time. This is something they can fix in the near future.

They are generally an okay broker, I'm still indecisive about what I like about them. But there are some aspects that I think they should improve.

1. The tech support does not have a phone call service, which is a shame.

2. The Desktop app is buggy and I keep having problems using it. Not always but it happened more often than I anticipated.

3. deposit and withdrawal can be a hassle sometimes? I don't know.

4. They don't let you trade stocks, but that is because of US regulations, I guess?

However, I don't know if I should give them 1 star?

I just barely started trading with Oanda, I feel like they are very professional. Really different compared to my old broker that full of problems anded order executions. Causing me to lose traders. But with Oanda, all of my trades were executed very quickly. I don't have to worry about it anymore. The customer service is very helpful and I find it great. They asked me for a lot of things that no other broker asked me before, because of US regulations, honestly, I have not made a withdrawal yet but the "withdrawal" option is enabled. I might try to withdraw some money as soon as my profit reaches a certain amount. Wish me luck.

I have been desperately trying to fund my account but it just didn't work. What is wrong with you, Oanda? I have deposited money from the same bank two months ago and it was smooth like a freeway. But now you suddenly said that my bank is the problem. You definitely accepted my money before, even withdrawal was very smooth at the time. Why suddenly changes? The problem is, my bank is the only safe and viable option where I live now. I couldn't trust the other payment options. Besides, if you can't accept it why do you list it as an option??

This is a really good broker for commodity trading, especially Oil. They are one of the few where you can place orders as small as $1 (contract size) in any currency pair or 1 barrel of oil. This is lower than most exchanges where you need a minimum of $10,000 in currency pair contracts. I also find their Trading platform really good since it is integrated with the TradingView. It also allows you to you can trade directly from the charts for more accurate positioning. The same thing can't be said for the trading account sadly, it is very outdated and boring. But I guess you can't win every battle.

If you ask me, I can't recommend this broker because of the bad experience I had with them.  I often see spreads being widened randomly and over the weekends it's absurd considering there is no news release happening during that time. I have been subjected to this several times. Some widening is acceptable but not with a factor of 10-20. That's just unreasonable. I had a limit order that mysteriously disappeared and wrote support about it. The customer support also take a very long time to answer it, in fact, it took 2 days until they answer all my questions. Even then, it's not so helpful. I just got a standard answer about filling out some information

I agree that Oanda has one of the best order executions for their MT4 and MT5 account. This kind of consistent speed is pretty rare to find nowadays. There is no mistake that they can keep the speed even though the market is very volatile at the time, but all of my positions were executed precisely. No swap fees, but Oanda does charge interest by the second. So make sure to remember that. I also experienced a spread jump from 1.9-pips for GBPUSD to over 30.0-pips during a high news release. So it's important to always check your positions every once in a while as something like this is prone to happen.

The FX Trade Charts are fantastic, especially the web trade version. I feel like there are plenty of ways to sets up the charts, and there are lots of indicators, even more than any other broker I have been with before. This is important to me because although I don't use all of the indicators, it's nice to know that we have more choices available. Furthermore, they can be more customized than many other brokers. The platform is very stable and I’ve never had any problems placing or amending orders or closing out trades.

However, I feel like there is still room to improve. For example, I think that customer service needs to have more training before they can start helping clients. Putting cash in is hard work though, with all of my cards being rejected several times. They keep blaming my bank, but I'm sure that is not the case.

I admit that OANDA is one of the reputable broker in the world. But I'm pretty bumped with their performance this past few months. I haven't traded with any broker in a long time. I used to join OANDA (about 5 years ago). But when I rejoined 3 months ago, I felt for myself that their performance had dropped. Starting from a less dynamic platform, less precise execution, and others.

One of the advantages of trading at OANDA is that the regulations have been recognized in various countries around the world. OANDA's regulations are already top marks. OANDA is regulated by the CFTC, IIROC, FCA, MAS Singapore, and ASIC. So when trading with OANDA, the chances of security are very high because of these regulations. This reduces the burden on the mind when trading and will have a positive psychological effect on traders. There is no need to be upset and imagine the problem of security of funds during trading with OANDA.