OANDA fxTrade Reviews

OANDA fxTrade Reviews

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Overall Rating44444

OANDA fxTrade is the online forex brokerage of the larger OANDA company. OANDA fxTrade specializes in forex trading and offers clients the ability to trade 45+ different currency pairs including precious metal pairs. The company prides itself on its ability to offer low spreads, transparency, and top notch customer support. The company publicly publishes its live currency quotes on its website as well as all available historical data. Every single customer has access to the exact same low spreads regardless of account size and trading volume. OANDA fxTrade typically offers rates similar to interbank rates.

OANDA fxTrade  Commissions

  • Forex Commissions: $0.00. Commissions generated through spreads. (EUR/USD spreads between 1.0 – 2.0 pips. Averages ~1.5)

OANDA fxTrade Features

  • Lightning fast trade execution
  • Simple fee structure (All accounts get access to the same tight spreads)
  • Free educational material on learning forex
  • Huge investor community forum for users to discuss strategies
  • Powerful mobile platforms (Specific IPad, IPhone, and Blackberry apps)
  • Live chat available during business hours + Phone support available
  • Simple, yet powerful platform
  • Free practice accounts available
  • Access to tons of free information (You can see open orders from other traders anonymously)
  • Access to 45+ currency fairs
  • Access to free market / industry news from Reuters, Dow Jobs, UBS, 4Cast, etc
  • Earn interest on your balance (Regardless of account size)

OANDA fxTrade Promotions:

  • N/A

OANDA fxTrade Minimum Deposit to open an account: $0.00 (No Minimum Deposit!)

 

User Reviews

  • Captn says:

    I have been with Oanda FXTrade for 3-4 years. Never had any real issues but then again I’m just swing tradin’ and not trying to take a few pips during news releases with a small $500 account. Spreads, trading tools, customer service, transfers: overall a very good fx broker.

  • Josh says:

    definitely the best forex broker to start out with and learn the ropes. no minimum account size means you can begin trade right away with a small balance. the low spreads apply to ALL accounts too – so everyone has access to the same spreads. they have an awesome currency exchange system too where you can convert your currency when you travel too (separate from their FX trading). I like Oanda!

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