Overall, Oanda can be summarised as a trustworthy and highly regulated Forex Broker that offers access to a variety of trading accounts and Competitive Spreads. Oanda is a full-service financial company with excellent customer support and a user-friendly trading platform. Oanda has a trust score of 93 out of 99.
📈 Order Execution | 4/5 |
📉 Commissions and Fees | 4/5 |
📊 Range of Markets | 5/5 |
📌 Variety of Markets | 5/5 |
📍 Withdrawal Speed | 4/5 |
🥰 Customer Support | 4/5 |
💻 Trading Platform | 5/5 |
🖋️ Education | 4/5 |
📝 Research | 5/5 |
🏦 Regulation | 5/5 |
📱 Mobile Trading | 5/5 |
💯 Trust Score | 93% |
Oanda Review – Analysis of Brokers’ Main Features
- ☑️ Oanda Overview
- ☑️ Oanda Detailed Summary
- ☑️ Oanda – Advantages over Competitors
- ☑️ Who will Benefit from Trading with OANDA?
- ☑️ OANDA Safety and Security
- ☑️ OANDA Bonus Offers and Promotions
- ☑️ OANDA Affiliate Program Features
- ☑️ Oanda Minimum Deposit
- ☑️ OANDA Account Types and Features
- ☑️ OANDA Base Account Currencies and Basic Order Types
- ☑️ How to Open and Close an OANDA Account
- ☑️ OANDA Trading Platforms
- ☑️ Which Markets Can You Trade with OANDA?
- ☑️ OANDA Fees, Spreads, and Commissions
- ☑️ OANDA Deposits and Withdrawals
- ☑️ OANDA Education and Research
- ☑️ OANDA Customer Support
- ☑️ OANDA VPS Review
- ☑️ OANDA Cashback Rebates Features and Conditions
- ☑️ OANDA Future Vision
- ☑️ OANDA Web Traffic Report
- ☑️ OANDA Sponsorships
- ☑️ OANDA Geographic Reach and Limitations
- ☑️ Oanda – Best Countries by Traders
- ☑️ OANDA vs IC Markets vs NinjaTrader – a Comparison
- ☑️ Oanda Alternatives
- ☑️ OANDA Awards and Recognition
- ☑️ Our Experience with OANDA
- ☑️ Recommendations according to our in-depth review of OANDA
- ☑️ OANDA Customer Reviews
- ☑️ Pros and Cons of Trading with OANDA
- ☑️ In Conclusion
- ☑️ Frequently Asked Questions
Oanda Overview
OANDA is a well-known financial firm that provides services to Malaysian clients via OANDA Global Markets Ltd., registered in the British Virgin Islands and regulated by the BVI Financial Services Commission. OANDA offers a variety of trading accounts and spreads on the EUR/USD start from 0.2 pips on the Core and Premium Core Accounts, which is competitive compared to other brokers.
OANDA is a full-service financial company that provides retail CFD trading, Forex data services for institutions, and exchange rate data on over 38,000 currency pairs. OANDA is globally regulated, with eight top-tier national regulators overseeing the company.
OANDA’s account-opening procedure is straightforward, and Malaysian traders who deposit less than 9,000 USD need not submit verification documents. Clients depositing more than this amount must provide at least two documents for verification.
OANDA’s trading platforms are regarded as high-quality and user-friendly, with MT4 and MT5 support.
Oanda Detailed Summary
🔎 Broker | 🥇 Oanda |
🏦 Headquartered | United States |
🌎 Global Offices | Singapore, Sidney, Tokyo, London, Germany, Poland, Malta, United States, Canada |
📌 Local Market Regulators in Malaysia | Securities Commission of Malaysia (SCM) |
📍 Foreign Direct Investment in Malaysia | 15.11 billion USD (2022) |
📈 Foreign Exchange Reserves in Malaysia | 103.4 billion USD (July 2025) |
📉 Governor of SEC in Malaysia | Shaik Abdul Rasheed Abdul Ghaffour is the Governor of the Central Bank of Malaysia |
📊 Accepts Malaysia Traders | ✅Yes |
💹 Year Founded | 1996 |
☪️ Islamic Account | ✅Yes |
🆓 Demo Account | ✅Yes |
⏰ Non-expiring Demo | ✅Yes |
⏱️ Demo Duration | Unlimited |
5️⃣ Retail Investor Accounts | 5 |
↪️ PAMM Accounts | None |
💧 Liquidity Providers | JP Morgan, Deutsche Bank, Citibank, UBS, Morgan Stanley, Citadel Securities, Jump Trading, Credit Suisse |
🤝 Affiliate Program | ✅Yes |
📈 Order Execution | Market |
📉 OCO Orders | ✅Yes |
📊 One-Click Trading | ✅Yes |
📌 Scalping | ✅Yes |
📍 Hedging | ✅Yes |
↪️ Expert Advisors | ✅Yes |
📰 News Trading | ✅Yes |
▶️ Trading API | ✅Yes |
⏩ Starting spread | From 0.2 pips |
💴 Minimum Commission per Trade | From $35 |
💹 Decimal Pricing | 5th Decimal after the comma |
💱 Margin Call | 100% |
⛔ Stop-Out | 50% |
📈 Minimum Trade Size | 0.01 lots |
📉 Maximum Trade Size | 1,000 lots |
🪙 Crypto trading offered | ✅Yes |
💷 Offers an MYR Account | None |
👤 Dedicated Malaysian Account Manager | None |
✔️ Maximum Leverage | 1:888 |
❌ Leverage Restrictions for Malaysia | None |
💷 Minimum Deposit (MYR) | 0 MYR ($0) |
💶 Deposit Currencies | All, per region |
💵 MYR Deposits Allowed | ✅Yes |
💴 Account Base Currency | USD, EUR, HKD, SGD |
👥 Active Malaysian Trader Stats | 4 million+ |
👤 Active Malaysian-based OANDA customers | Unknown |
🔃 Malaysian Daily Forex Turnover | 15 billion USD (Average for August 2025) |
⏰ Minimum Withdrawal Time | 1 business day |
⏱️ Maximum Estimated Withdrawal Time | 2 – 5 Working Days |
⏲️ Instant Deposits and Instant Withdrawals | ✅Yes |
🔁 Segregated Accounts with Malaysian Banks | None |
🖥️ Trading Platform Time | New York Time |
💻 Observe DST Change | NY Time |
💴 Offers USD/MYR currency pair | None |
📈 USD/MYR Average Spread | None |
📉 Offers Malaysian Stocks and CFDs | None |
📊 Languages supported on the Website | English, Chinese (Simplified), Chinese (Traditional), French, Spanish, Portuguese, Vietnamese, Thai, Malay, Indonesian |
🥰 Customer Support Languages | Multilingual |
➕ Copy Trading Support | None |
⏰ Customer Service Hours | 24/5 |
🥰 Malaysian-based customer support | None |
🎁 Bonuses and Promotions for Malaysia Traders | ✅Yes |
🖍️ Education for Malaysian beginners | ✅Yes |
💻 Proprietary trading software | ✅Yes |
😎 Most Successful Trader in Malaysia | Rayn Lim (Net Worth is private) |
❤️ Is OANDA a safe broker for Malaysian Traders | ✅Yes |
🔟 Rating for OANDA Malaysia | 8/10 |
💯 Trust score for OANDA Malaysia | 93% |
Oanda – Advantages over Competitors
Oanda has the following advantages over competitors:
- ✅ OANDA accepts various deposit and withdrawal methods, including credit/debit cards and e-wallets such as Skrill and Neteller.
- ✅ The Premium Account provides tighter spreads and other benefits tailored to the needs of professional traders for high-volume traders.
- ✅ OANDA has a robust educational section that includes Getting Started guides, Tools and Strategies, and Capital Management resources, catering to novice and experienced traders.
- ✅ Traders can practice and test strategies with a demo account, enhancing their trading skills without risking real money.
- ✅ OANDA keeps its fee structure transparent, allowing traders to understand costs clearly.
- ✅ OANDA provides customer service to its clients, assisting them with any questions or issues.
- ✅ By adding MT5 support, OANDA demonstrates its commitment to expanding its trading instruments and continuously improving its services.
- ✅ OANDA’s trading platforms are known for their user-friendliness and innovative features, which improve the overall trading experience.
- ✅ OANDA is regulated globally by seven top-tier national regulators, ensuring a secure trading environment.
- ✅ OANDA provides extensive options for traders by providing exchange rate information on over 38,000 currency pairs.
- ✅ OANDA offers competitive spreads on the EUR/USD, starting at 0.2 pips on the Core and Premium Core Accounts.
- ✅ OANDA supports MT4 and MT5 platforms, allowing traders to select their preferred trading environment.
- ✅ The account opening process is straightforward, with only minor verification requirements for deposits under 9,000 USD.
and much, MUCH more!
Who will Benefit from Trading with OANDA?
- ✅ Because OANDA provides Forex data services to institutions, it can be a valuable partner for businesses that require currency data and information.
- ✅ Because of OANDA’s educational resources, demo account, and user-friendly platforms, it is ideal for those who are new to trading or looking to improve their skills.
- ✅ Because OANDA is regulated in multiple jurisdictions and supports a variety of deposit and withdrawal methods, it can accommodate traders from all over the world.
- ✅ OANDA caters to professional traders looking for a stable trading environment by offering competitive spreads, premium account options, and diverse currency pairs.
How does OANDA maintain a competitive edge in the market?
OANDA maintains a competitive edge through innovative technology, competitive spreads, diverse product offerings, and a strong commitment to customer service.
Does OANDA offer unique trading tools compared to other brokers?
Yes, OANDA offers specialized trading tools, such as advanced charting and risk management, which enhance the trading experience.
OANDA Safety and Security
OANDA Regulation in Malaysia
OANDA is not regulated by the Securities Commission of Malaysia (SCM). However, OANDA global regulations are listed in the table below:
🔎 Registered Entity | 🌎 Country of Registration | 📌 Registration Number | 📍 Regulatory Entity | 📈 Tier | 📉 License Number/Ref |
1️⃣ OANDA Corporation | United States | - | NFA | 1 | NFA ID 0325821 |
2️⃣ OANDA (Canada) Corporation ULC | Canada | - | IIROC | 1 | IIROC |
3️⃣ OANDA Europe Limited | United Kingdom | 7110087 | FCA | 1 | 542574 |
4️⃣ OANDA Asia Pacific Pte Ltd | Singapore | 200704926K | MAS | 1 | 200704926K |
5️⃣ OANDA Australia Pty Ltd | Australia | ABN 26 152 088 349 | ASIC | 1 | AFSL No. 412981 |
6️⃣ OANDA Japan Co. Ltd | Japan | 2137 | FFAJ | 1 | 1571 FIBO 2137 |
7️⃣ OANDA Japan, Inc | Japan | 40100011229451 | JFSA | 1 | 40100011229451 |
8️⃣ OANDA Europe Markets Limited | Malta | C95813 | MFSA | 3 | VLT1455 |
9️⃣ OANDA Global Markets Ltd | British Virgin Islands | BVI 2026433 | BFI FSC | 3 | 2026433 |
OANDA Protection of Client Funds
🔎 Security Measure | ℹ️ Information |
🔒 Segregated Accounts | ✅Yes |
🔏 Compensation Fund Member | None |
🔐 Compensation Amount | None |
🔓 SSL Certificate | ✅Yes |
🗝️ 2FA (Where Applicable) | ✅Yes |
🔑 Privacy Policy in Place | ✅Yes |
🔒 Risk Warning Provided | ✅Yes |
🔏 Negative Balance Protection | ✅Yes |
🔐 Guaranteed Stop-Loss Orders | ✅ Yes, but not for UK or US clients |
Oanda Security while Trading
Additional security features, such as two-factor authentication (2FA), are incorporated into OANDA’s platforms to prevent unauthorized access to trading accounts. Furthermore:
- ✅ OANDA employs sophisticated encryption technologies to protect data transmission between the client’s device and servers. This aids in protecting sensitive data, including login credentials, personal information, and financial transactions.
- ✅ Typically, client funds are held in separate accounts at reputable banks. This separation ensures that client funds are not used for the broker’s operational expenses and are safeguarded in the event of bankruptcy.
- ✅ OANDA is governed by eight national regulators of the highest rank, including the United States, the United Kingdom, Canada, and Australia. This regulatory compliance ensures that OANDA follows stringent client protection, financial reporting, and operational integrity guidelines and standards.
- ✅ Multiple authorities regulate OANDA, which is subject to regular audits and assessments to ensure compliance with regulatory requirements and industry best practices.
- ✅ OANDA invests in cutting-edge technological infrastructure to ensure the stability and security of its trading platforms. This includes robust firewalls, secure servers, and continuous monitoring for threats.
- ✅ OANDA provides various risk management tools and features, such as stop-loss orders, to assist traders in managing their trading risks effectively.
- ✅ The customer service team at OANDA is available to assist clients with any security issues or concerns, providing guidance and support as necessary.
Finally, the OANDA privacy statement describes how personal and financial information is collected, utilized, and protected. Compliance with privacy regulations provides an additional layer of security for client information.
Pros and Cons Regulation and Safety of Funds
✅ Pros | ❎ Cons |
OANDA is one of the most reputable brokers in the industry | OANDA is not currently regulated in Malaysia |
Do financial authorities regulate OANDA?
Yes, OANDA is regulated by multiple international financial authorities, which contributes to its credibility and reliability.
Is OANDA regulated in the United Kingdom?
Yes, OANDA Europe Limited is regulated in the UK by the Financial Conduct Authority (FCA), a trusted and reputable Tier-1 regulatory entity.
OANDA Bonus Offers and Promotions
OANDA offers Malaysian traders the following bonuses and promotions:
- ✅ Welcome Bonus
- ✅ Referral Bonus
OANDA Welcome Bonus
OANDA Global Markets Limited is enticing new clients who meet certain criteria with a welcome bonus. Under this special promotion, new clients can receive up to six Coinbase share CFDs for free.
Individuals must open an account with OANDA and be prepared to trade various instruments, including US share CFDs, from a single account to qualify for this offer.
The offer is specifically aimed at new OANDA Global Markets Limited clients who have opened but have not yet funded a live account before the August 31, 2025 deadline.
It should be noted that this new customer offer is only available through OANDA Global Markets Limited, and clients of other OANDA entities are not eligible to participate. Furthermore, the offer is payable per new client rather than per account, emphasizing the unique nature of this promotion.
OANDA Referral Bonus
OANDA’s referral bonus program incentivizes current clients to invite friends and acquaintances onto the platform. If a client successfully refers someone to OANDA, both parties can earn up to US$1,000 each.
The amount can differ depending on the referred individual’s initial deposit and trading activity. This program benefits everyone involved in expanding OANDA’s reach by growing its customer base through referrals.
Does OANDA have a sign-up bonus?
No, OANDA does not have a sign-up bonus.
Are OANDA’s bonuses and promotions available in all regions?
No, OANDA’s bonuses and promotions may differ by region, so it’s best to check their website for regionally-specific offers and eligibility requirements.
OANDA Affiliate Program Features
The OANDA partner program is the official global affiliate program for the renowned OANDA brand. It is considered one of the most successful and lucrative financial sector affiliate programs.
With this program, partners can earn up to US$600 for each eligible trader they bring from a developing market to OANDA’s attention.
Additionally, every partner in the program receives personalized support from a dedicated affiliate manager who assists them with platform usage and offers advice on enhancing their online presence.
Through OANDA’s innovative affiliate portal, affiliates can easily track their referrals and access marketing materials designed to optimize conversion rates. These resources include digital banner advertisements as well as effective landing pages.
Furthermore, participating in The OANDA Affiliate Program is free for partners.
How to open an Affiliate Account with OANDA
To register an Affiliate Account, Malaysian traders can follow these steps:
- ✅ Go to the OANDA official website and look for the Affiliate Program section.
- ✅ Familiarize yourself with the OANDA Affiliate Program’s terms, conditions, and benefits.
- ✅ To begin the registration process, locate and click the button.
- ✅ Fill out the online application form with your contact information, website URL, and marketing strategies.
- ✅ Examine and accept the Affiliate Program’s terms and conditions.
- ✅ Submit the completed application to OANDA’s affiliate team for review.
- ✅ Allow OANDA to review your application and respond with approval or additional instructions.
Once approved, log in to your Affiliate Account to access marketing materials, tracking tools, and other resources.
Can anyone become an OANDA affiliate?
Yes, anyone with a website or presence on social media can become an affiliate to start prompting OANDA’s platform and earn commissions.
How are commissions paid in OANDA’s affiliate program?
OANDA’s affiliate program commissions are typically paid via the payment methods specified in their affiliate agreement.
Can I track my referrals in OANDA’s affiliate program?
Yes, the OANDA affiliate program offers real-time tracking tools for monitoring referrals, conversions, and commissions.
How can I contact OANDA’s affiliate support team?
You can email or call the affiliate support team or access the live chat on the website to be connected to a support agent.
Oanda Minimum Deposit
🔎 Live Account | 💴 Minimum Dep. |
🥇 Standard | 0 MYR / 0 USD |
🥈 Core | 0 MYR / 0 USD |
🥉 Swap-Free | 0 MYR / 0 USD |
🏅 Premium | 0 MYR / 0 USD |
🎖️ Premium Core | 0 MYR / 0 USD |
Is there a minimum deposit requirement to open an OANDA account?
No, there is no minimum deposit required for Malaysians to register a live account with OANDA.
Are there minimum amounts tied to payment methods with OANDA?
No minimum amounts are currently indicated for the deposit methods supported by OANDA.
OANDA Account Types and Features
🔎 Live Account | 💴 Minimum Dep. | 📈 Average Spread | 💵 Commissions | 💶 Average Trading Cost |
🥇 Standard | 0 MYR / 0 USD | 1.1 pips | $0 | 11 USD |
🥈 Core | 0 MYR / 0 USD | 0.2 pips | $40 per million | 10 USD |
🥉 Swap-Free | 0 MYR / 0 USD | 1.6 pips | $0 | 16 USD |
🏅 Premium | 0 MYR / 0 USD | 0.8 pips | $0 | 8 USD |
🎖️ Premium Core | 0 MYR / 0 USD | 0.2 pips | $35 per million | 9 USD |
OANDA Standard Account
The OANDA Standard Account is specifically tailored to meet the needs of traders who want a comprehensive trading experience. With this account, you will access an extensive range of financial instruments and trading tools that prioritize flexibility.
Malaysian traders can benefit from competitive spreads, reliable execution, and a user-friendly platform, making it perfect for beginners and experienced traders.
🔎 Account Feature | 📌 Value |
📈 Is full Account Verification Needed | No, not for account deposits under $9,000 |
📉 Average Spreads | From 1.1 pips |
💴 Commissions (Per 1 mil traded) | None; only the spread is charged |
📊 Maximum Leverage | Accounts opened before Oct 2022 – 1:200 Accounts opened after October 2022 – 1:888 |
↪️ Minimum lot size | 0.01 lots |
⚙️ Instruments | 200+ |
⛔ Stop-Out | 50% |
🫰🏻 One-Click Trading offered | ✅Yes |
💹 Strategies allowed | ✅Yes |
💵 Base Account Currency | USD, EUR, HKD, SGD |
🖥️ Available Platforms on this account | MetaTrader 4 MetaTrader 5 FxTrade |
📍 Acceptance Criteria | All traders are welcome |
☑️ Additional Benefits on this account | MT4 and MT5 Premium App Signal Centre (Acuity) |
OANDA Core Account
The main goal of the OANDA Core Account is to offer traders a strong base to establish their trading careers. This particular account type caters to those who prioritize simplicity and effectiveness by providing them with crucial features and resources.
The Core Account streamlines traders’ market involvement by granting access to major and minor currency pairs and essential trading tools.
🔎 Account Feature | 📌 Value |
📈 Is full Account Verification Needed | No, not for account deposits under $9,000 |
📉 Average Spreads | From 0.2 pips |
📊 Commissions (Per 1 mil traded) | $40 |
📌 Maximum Leverage | Accounts opened before Oct 2022 – 1:200 Accounts opened after October 2022 – 1:888 |
📍 Minimum lot size | 0.01 lots |
⚙️ Instruments | 200+ |
⛔ Stop-Out | 50% |
💹 One-Click Trading offered | ✅Yes |
▶️ Strategies allowed | ✅Yes |
🪙 Base Account Currency | USD, EUR, HKD, SGD |
💻 Available Platforms on this account | MetaTrader 4 MetaTrader 5 FxTrade |
↪️ Acceptance Criteria | All traders are welcome |
🤝 Additional Benefits on this account | MT4 and MT5 Premium App Signal Centre (Acuity) |
OANDA Swap-Free Account
The Swap-Free Account offered by OANDA is specifically tailored to meet the needs of traders who follow Islamic financial principles.
By eliminating overnight interest fees, this account ensures compliance with Sharia laws and enables traders to engage in trading activities without any concerns regarding their religious beliefs.
With access to a wide range of trading instruments, the Swap-Free Account empowers devout individuals to participate in various market opportunities while honoring their faith actively.
🔎 Account Feature | 📌 Value |
📈 Is full Account Verification Needed | No, not for account deposits under $9,000 |
📉 Average Spreads | From 1.6 pips |
📊 Commissions (Per 1 mil traded) | None; only the spread is charged |
💹 Maximum Leverage | Accounts opened before Oct 2022 – 1:200 Accounts opened after October 2022 – 1:888 |
↪️ Minimum lot size | 0.01 lots |
🖇️ Instruments | 26 halal instruments |
⛔ Stop-Out | 50% |
▶️ One-Click Trading offered | ✅Yes |
⏩ Strategies allowed | ✅Yes |
💷 Base Account Currency | USD |
💻 Available Platforms on this account | MetaTrader 4 |
🔢 Acceptance Criteria | Available at the discretion of OANDA |
🔁 Additional Benefits on this account | MT4 and MT5 Premium App Signal Centre (Acuity) |
OANDA Premium Account
The OANDA Premium Account caters to traders seeking an exceptional trading experience.
This account type provides competitive spreads, and top-notch customer service, and grants access to a wider range of advanced trading tools. In addition to these premium features and benefits, this account also offers exclusive perks.
By harnessing OANDA’s cutting-edge technology and personalized assistance, Premium Account holders can delve deeper into markets and execute strategies with enhanced precision.
🔎 Account Feature | 📌 Value |
📈 Is full Account Verification Needed | ✅Yes |
📉 Average Spreads | From 0.8 pips |
📊 Commissions (Per 1 mil traded) | None; only the spread is charged |
💹 Maximum Leverage | Accounts opened before Oct 2022 – 1:200 Accounts opened after October 2022 – 1:888 |
▶️ Minimum lot size | 0.01 lots |
⏩ Instruments | 200+ |
⛔ Stop-Out | 50% |
🫰🏻 One-Click Trading offered | ✅Yes |
🚩 Strategies allowed | ✅Yes |
💴 Base Account Currency | USD, EUR, HKD, SGD |
🖥️ Available Platforms on this account | MetaTrader 5 FxTrade |
↪️ Acceptance Criteria | Traders require a 20,000 USD minimum balance with trading volumes of 10 million USD notional (or an equivalent) monthly |
📍 Additional Benefits on this account | MT4 and MT5 Premium App Signal Centre (Acuity) Account Manager Zero Deposit Fees Reimbursement of Banking Fees Free Withdrawals Priority Support Free VPN |
OANDA Premium Core Account
The OANDA Premium Core Account offers traders a comprehensive yet streamlined trading experience. This exceptional account type allows access to a wide array of trading instruments and tools while ensuring the user-friendly nature and effectiveness of the Core Account are maintained.
🔎 Account Feature | 📌 Value |
📈 Is full Account Verification Needed | ✅Yes |
📉 Average Spreads | From 0.2 pips |
📊 Commissions (Per 1 mil traded) | $35 |
💹 Maximum Leverage | Accounts opened before Oct 2022 – 1:200 Accounts opened after October 2022 – 1:888 |
💱 Minimum lot size | 0.01 lots |
↪️ Instruments | 200+ |
⛔ Stop-Out | 50% |
🫰🏻 One-Click Trading offered | ✅Yes |
▶️ Strategies allowed | ✅Yes |
💴 Base Account Currency | USD, EUR, HKD, SGD |
🖥️ Available Platforms on this account | MetaTrader 5 FxTrade |
🤝 Acceptance Criteria | Traders require a 20,000 USD minimum balance with trading volumes of 10 million USD notional (or an equivalent) monthly |
🖇️ Additional Benefits on this account | MT4 and MT5 Premium App Signal Centre (Acuity) Account Manager Zero Deposit Fees Reimbursement of Banking Fees Free Withdrawals Priority Support Free VPN |
OANDA Demo Account
OANDA’s distinctive Demo Account, tailored to the preferences of Malaysian traders, enables you to experience the intricate world of trading with precision. This specialized service enables you to experiment with trading strategies without the associated real-world risks.
The OANDA Demo Account is an essential educational tool, fostering the development of skills and a thorough comprehension of market dynamics. Important features of this account include:
- ✅ A powerful desktop platform for an all-encompassing trading experience.
- ✅ Leverage up to 1:888 on the major currency pairs, enhancing trading flexibility.
- ✅ Unrestricted virtual capital for refining trading strategies.
- ✅ A demo account with no expiration date ensures continuous opportunities for practice.
- ✅ Effortless integration with iOS and Android-compatible mobile trading applications.
Finally, access to real-time rates for foreign exchange, metals, commodities, energies, and stock market indices.
OANDA Professional Account
OANDA’s Professional Account allows experienced Malaysian traders to explore advanced trading opportunities across forex and CFDs. Traders in indices, foreign exchange, precious metals, and energy commodities who employ guaranteed stop-loss, stop-loss, or trailing stop-loss enjoy the following benefits:
- ✅ With volume rebates and reduced margin requirements, the trading environment is improved.
- ✅ Enhanced potential for leverage, which contributes to competitive trading strategies.
- ✅ Utilization of advanced trading tools for risk management effectiveness.
Professional Account Eligibility criteria
Malaysian traders must meet certain criteria to qualify for OANDA’s Professional Account, either as a “wholesale client” or a “sophisticated investor.” For wholesale investors, the following conditions apply:
- ✅ Strong financial literacy and an in-depth knowledge of trading products.
- ✅ Certification from a certified public accountant attesting that the financial requirements have been met.
- ✅ A substantial asset base of at least $2.5 million or a minimum two-year gross income of at least $250,000.
The following are the requirements for sophisticated investors:
- ✅ A notional value of cumulatively executed derivatives transactions exceeding $10 million.
- ✅ At least one year of experience trading derivatives with OANDA or another regulated broker.
- ✅ A confirmation by OANDA of a commendable level of knowledge and expertise in derivatives.
- ✅ At least 150 executed derivatives transactions in the previous year.
Considerations for Professional Traders in Malaysia
Malaysian traders who opt for OANDA’s Professional Account must consider the act of voluntarily waiving the right to receive a copy of the Financial Services Guide (FSG) and a deliberate waiver of access to a Product Disclosure Statement (PDS).
Pros and Cons OANDA Account Types and Features
✅ Pros | ❎ Cons |
OANDA offers a choice between versatile accounts that suit different experience levels and trading goals | The spreads are wider than that of competitors |
There is a free, unlimited demo account | OANDA’s commissions are higher than competitors |
What types of accounts does OANDA offer?
OANDA offers several account types, including Standard, Core, Swap-Free, Premium, and Premium Core, to accommodate various trading requirements.
Are there any unique features in OANDA’s Premium account?
OANDA’s Premium account provides additional benefits, such as lower spreads and dedicated support, to enhance the trading experience for premium clients.
OANDA Base Account Currencies and Basic Order Types
The base account currencies available to Malaysians include the following:
- ✅ EUR
- ✅ USD
- ✅ SGD
- ✅ HKD
The Basic Order Types made available by Oanda include:
- ✅ A market order can be either a buy or a sell order that executes at the current market price. This is the current price displayed on your price chart. If you place a market order, you will be immediately entered at the best available price.
- ✅ Market orders are most effective when a trading opportunity requires prompt action. Click buy/sell at the market to enter the trade immediately.
- ✅ A stop order can be either a buy or sell stop, depending on whether you wish to purchase above or below the market.
- ✅ This is useful for trading breakouts or trend continuation strategies when you want the market to continue moving in the same direction.
Alternatively, if you believe the price will reverse when it reaches a certain price, you can place a limit order.
How to Open and Close an OANDA Account
To open an account with OANDA, Malaysians can follow these steps:
- ✅ Navigate to the official OANDA website and select the Malaysian region.
- ✅ Select the appropriate account type based on your trading needs and preferences (Standard, Core, Swap-Free, Premium, Premium Core).
- ✅ Complete the online registration form with your personal information, contact information, and financial details.
- ✅ Submit required identity verification documents, such as a passport or national ID card and proof of residence.
- ✅ Select your preferred trading platform (MT4 or MT5).
- ✅ Choose a deposit method and deposit the required minimum deposit into the account.
- ✅ Set trading preferences, risk management settings, and other account options.
After activating your account, you can begin trading on the platform.
To close a live trading account with OANDA, Malaysian traders can follow these steps:
- ✅ Contact OANDA’s customer support team via email, phone, or live chat to request an account closure.
- ✅ To ensure the request is authorized, provide the necessary account details and confirm your identity.
- ✅ If you still have funds, use the withdrawal process to transfer them to your bank or preferred payment method.
- ✅ If necessary, complete any account closure forms or documents provided by OANDA.
- ✅ Wait for confirmation from OANDA’s support team that the account has been closed successfully.
Uninstall any OANDA trading platforms from your devices if desired.
How long does it take to open an OANDA account?
Depending on document verification, the account opening process with OANDA is often completed within a single day.
Is there a fee to open an OANDA account?
No, there are no specific account opening fees associated with opening a trading account with OANDA.
What is the process to close an OANDA account?
To close an OANDA account, you must contact customer support and follow their instructions, including any documentation requirements.
Can I reopen a closed OANDA account?
Yes, you might be able to reopen a closed OANDA account by contacting customer support and adhering to their procedures.
OANDA Trading Platforms
OANDA offers Malaysian traders a choice between these trading platforms:
- ✅ MetaTrader 4
- ✅ MetaTrader 5 (BVI Website)
- ✅ OANDA Platform
- ✅ FxTrade
Oanda MetaTrader 4
MT4 is extensively utilized in the forex sector as a trading platform. Combining OANDA with MT4 ensures traders have a smooth and comprehensive trading experience encompassing various technical analysis tools and automated trade abilities.
Thanks to its easy-to-use interface and adaptable charts, MT4 caters to beginners and seasoned traders.
OANDA’s Malaysian clients can conveniently employ Expert Advisors (EAs) for algorithmic trading within MT4 while taking advantage of competitive spreads and robust risk management features.
Oanda MetaTrader 5 (BVI Website)
OANDA’s BVI website grants access to MT5 alongside additional benefits such as expanded timeframes, order types, and an extensive range of technical indicators.
The platform boasts enhanced charting capabilities and a multi-threaded strategy tester, enabling traders to conduct advanced analysis and develop strategies efficiently.
Moreover, the inclusivity of more asset classes widens OANDA’s potential clientele base significantly. By integrating economic calendars and news feeds directly into the platform interface, traders can effortlessly monitor market events for convenient decision-making.
OANDA Platform
The OANDA Trading Platform was created to offer an all-encompassing and user-friendly trading experience. It incorporates cutting-edge charting tools, a wide range of technical indicators, and a customizable interface to cater to the unique preferences of individual traders.
Seamless integration with OANDA’s pricing and execution engines ensures efficient and reliable trade executions.
Additionally, this platform enables access to OANDA’s research data and analysis tools for comprehensive market insights in one convenient location.
Furthermore, Malaysian traders can effortlessly utilize the versatile features on various devices, including web browsers, desktop applications, and mobile devices – providing flexibility when trading on the go.
Oanda FxTrade
OANDA’s renowned trading platform, FxTrade, is highly regarded for its cutting-edge features and user-friendly design. This advanced tool grants traders immediate access to real-time forex market data and liquidity from OANDA.
With its intuitive interface and robust charting tools, users can easily analyze market trends – empowering them to make well-informed decisions during their trades.
In addition, FxTrade offers convenient one-tap trading functionality and customizable layouts that enrich the overall trading experience.
Furthermore, it seamlessly integrates across various devices, such as smartphones and tablets, thus ensuring uninterrupted connectivity to the markets regardless of location or circumstances.
Pros and Cons OANDA Trading Platforms
✅ Pros | ❎ Cons |
OANDA’s suite of platforms offers Malaysians flexibility | Different regions have access to different platforms, and they are not equally distributed to all traders |
What trading platforms does OANDA offer?
OANDA provides several trading platforms, including MetaTrader 4, MetaTrader 5, the OANDA Platform, and FxTrade, to accommodate a variety of trading preferences and requirements.
Is MetaTrader 4 available with OANDA?
Yes, OANDA supports MetaTrader 4, enabling traders to utilize the platform’s tools and features.
Which Markets Can You Trade with OANDA?
Malaysian traders can expect the following range of markets from OANDA
- ✅ Forex
- ✅ Indices
- ✅ Metals
- ✅ Shares
- ✅ Commodities
- ✅ Cryptocurrencies
Financial Instruments and Leverage offered by OANDA
🔎 Instrument | 🅰️ Number of Assets Offered | 🅱️ Max Leverage Offered |
📈 Forex | 48 | 1:888 |
📉 Indices | 18 | 1:200 |
⚙️ Metals | 2 | 1:200 |
📊 Shares | 1,200+ | 1:20 |
🍎 Commodities | 10 | 1:200 |
🪙 Cryptocurrencies | 18 | 1:4 |
Broker Comparison for a Range of Markets
🔎 Broker | 🥇 OANDA | 🥈 IC Markets | 🥉 NinjaTrader |
📈 Forex | ✅Yes | ✅Yes | ✅Yes |
💎 Precious Metals | ✅Yes | ✅Yes | None |
📉 ETFs | None | None | None |
📊 CFDs | ✅Yes | ✅Yes | None |
💹 Indices | ✅Yes | ✅Yes | None |
💱 Stocks | ✅Yes | ✅Yes | None |
🪙 Cryptocurrency | ✅Yes | ✅Yes | None |
📌 Options | None | None | None |
💡 Energies | ✅Yes | ✅Yes | None |
📍 Bonds | None | None | None |
Pros and Cons OANDA Range of Markets
✅ Pros | ❎ Cons |
OANDA offers a range of share CFDs from exchanges globally | High leverage can lead to significant loss |
Traders can access 18 global indices | OANDA offers fewer non-share instruments than other brokers, especially considering forex, metals, and crypto |
Does OANDA offer cryptocurrency trading?
Yes, subject to regional availability and regulations, OANDA offers trading in select cryptocurrencies.
Is commodity trading available with OANDA?
Yes, OANDA offers commodity trading, including popular commodities such as gold, oil, and silver.
OANDA Fees, Spreads, and Commissions
OANDA Spreads
OANDA offers traders two pricing options: spread-only pricing with a fee and spread pricing. In the case of spread-only pricing, the usual charge is included in the overall spread, which becomes the sole trading cost for traders.
Traders who opt for spread-only accounts can enjoy lower spreads. They will only be subject to a transaction fee as part of their total trading cost, including an appropriate commission and an associated spread.
Typical spreads that traders can anticipate are as follows:
- ✅ Standard Account – 1.1 pips
- ✅ Core Account – 0.2 pips
- ✅ Swap Free Account – 1.6 pips
- ✅ Premium Account – 0.8 pips
- ✅ Premium Core Account – 0.2 pips
OANDA Commissions
OANDA charges commissions on the Core and Premium Core Accounts as follows:
- ✅ Core Account: $40 per million USD traded or $8 per standard lot or $4 per side (200,000 currency units).
- ✅ Premium Core Account: $35 per million USD traded or $7 per standard lot ($3.50 per side).
OANDA Overnight Fees
The typical overnight cost for well-known products like EUR/USD consists of -2.03% as long-term interest and -0.03% as short-term interest rates, respectively.
This translates to a charge of $6.36 for holding onto long positions and just $0.09 if you have taken on short position roles along those lines
Traders who use the Swap-free account can access 26 popular products, excluding the Japan 225 Index. Trading this index costs $4 to $7 per every 100 lots traded. These fees are paid by Muslim traders with open positions that exceed five days.
OANDA Deposit and Withdrawal Fees
OANDA does not charge deposit fees, but there is a 20 EUR, USD, or 150 HKD fee for bank wire withdrawals.
OANDA Inactivity Fees
If an active trading account becomes dormant after 1 year, the remaining balance is charged a $10 monthly inactivity fee.
OANDA Currency Conversion Fees
Currency conversion fees apply when traders deposit or withdraw in currencies (like MYR) that differ from their account’s base currency (EUR, HKD, SGD, USD).
Pros and Cons of OANDA Trading and Non-Trading Fees
✅ Pros | ❎ Cons |
OANDA does not charge any deposit fees | OANDA’s spreads are much wider than that of competitors |
OANDA offers transparent information regarding its fees, including a comprehensive list of leverage, margin, etc. | The commissions are competitive but not the lowest in the industry |
There are competitive spreads charged | Withdrawal fees apply to bank wire transfers |
How does OANDA’s pricing compare to other brokers?
OANDA’s pricing is competitive, with transparent spreads and commissions, but comparisons with other brokers should consider each trader’s trading needs and preferences.
How transparent is OANDA with its fee structure?
OANDA is well-known for its straightforward fee structure, with detailed information on spreads, commissions, and other charges on its website.
OANDA Deposits and Withdrawals
OANDA offers Malaysian traders the following deposit and withdrawal methods:
- ✅ Local Transfers
- ✅ Debit Card
- ✅ Credit Card
- ✅ Bank Wire
- ✅ Bank Transfers
- ✅ Skrill
- ✅ Neteller
and many more!
How to make a Deposit with OANDA
To deposit funds to an account with OANDA, Malaysian traders can follow these steps:
- ✅ Log in to your account on the OANDA trading platform.
- ✅ Locate the “Deposit” option in the account management or funding section.
- ✅ Select a deposit method such as bank transfer, credit card, or e-wallet.
- ✅ Enter the deposit amount and confirm the currency.
- ✅ Fill in the required payment information, such as your bank account or credit card information.
- ✅ Examine the specifics and confirm the deposit. Typically, a confirmation message or email will be sent.
Depending on the deposit method, funds may be credited immediately or take some time to process.
How long do OANDA Deposits take?
The processing time for OANDA deposits is determined by the deposit method used. While some methods, such as credit cards and e-wallets, can produce instant deposits, bank transfers can take several business days.
Is there a minimum deposit requirement with OANDA?
No, OANDA does not have a minimum deposit requirement.
Are deposits with OANDA secure?
Yes, OANDA employs security measures to ensure the safety and integrity of customer deposits per industry standards.
How to Withdraw from OANDA
To withdraw funds from an account with OANDA, Malaysian traders can follow these steps:
- ✅ Sign in to your OANDA trading account.
- ✅ Go to the account management or funding section and locate the “Withdraw” option.
- ✅ Pick a withdrawal method that aligns with your deposit method preference.
- ✅ Input the desired amount for withdrawal and verify its currency.
- ✅ Supply or validate relevant payment details for withdrawal processing purposes.
Review all pertinent information before confirming your request.
How long do OANDA Withdrawals take?
The processing time for OANDA withdrawals varies depending on the method chosen. Withdrawals from e-wallets may be processed within a day, whereas bank transfers may take several business days.
Are there any restrictions on withdrawals from OANDA?
Yes, OANDA’s website may contain withdrawal-specific terms and conditions, including minimum withdrawal amounts and verification requirements.
Is there a fee for withdrawing funds from OANDA?
Yes, bank wire transfers incur a fee of 20 USD or EUR, or 150 HKD.
OANDA Deposit Currencies, Deposit and Withdrawal Processing Times
🔎 Payment Method | 📌 Deposit Processing | 📍 Withdrawal Processing |
💴 Local Transfers | 3 – 5 Working Days | 1 – 3 Working Days |
💵 Debit Card | Instant | 1 – 3 Working Days |
💶 Credit Card | Instant | 1 – 3 Working Days |
💷 Bank Wire | 3 – 5 Working Days | 2 – 5 Working Days |
💳 Bank Transfers | 3 – 5 Working Days | 2 – 5 Working Days |
💴 Skrill | 1 Working Day | 1 Working Day |
💵 Neteller | 1 Working Day | 1 Working Day |
💶 Mobile Bank Transfers | 3 – 5 Working Days | 1 Working Day |
💷 International e-Wallets | 3 – 5 Working Days | 1 Working Day |
Broker Comparison – Deposit and Withdrawals
🔎 Broker | 🥇 OANDA | 🥈 IC Markets | 🥉 NinjaTrader |
⏰ Minimum Withdrawal Time | 1 business day | Instant | Within 24 hours |
⏱️ Maximum Estimated Withdrawal Time | 2 – 5 Working Days | Up to 14 business days | Between 5 to 7 working days |
⏲️ Instant Deposits and Instant Withdrawals | Yes, Deposits | Yes, on PayPal, Neteller, and Skrill | No |
Pros and Cons of OANDA Deposits and Withdrawals
✅ Pros | ❎ Cons |
OANDA offers instant deposits | Withdrawal fees are charged on bank wire |
Deposit fees are waived | There are no instant withdrawal options |
Are there any fees for withdrawals from OANDA?
Yes, withdrawal fees are charged on bank wire withdrawals of 20 EUR, USD, or 150 HKD.
How long do deposits take with OANDA?
Typically, OANDA deposits are processed within one business day, but processing times may vary depending on the deposit method.
OANDA Education and Research
OANDA offers the following Educational Materials to Malaysian traders:
- ✅ Introduction to Leverage Trading
- ✅ Fundamental Analysis
- ✅ Technical Analysis
- ✅ Indicators and Oscillators
- ✅ Webinars and Events
and much, MUCH more!
OANDA also offers Malaysian traders the following additional Research and Trading Tools:
- ✅ MetaTrader Premium Tools
- ✅ Technical analysis offered by AutoChartist
- ✅ VPS
- ✅ Economic Calendar
and much, MUCH more!
Brokers Research and Trading Tool Comparison
🔎 Broker | 🥇 OANDA | 🥈 IC Markets | 🥉 NinjaTrader |
📈 Economic Calendar | ✅Yes | ✅Yes | ✅Yes |
📉 VPS | ✅Yes | ✅Yes | ✅Yes |
📊 AutoChartist | ✅Yes | ✅Yes | None |
💹 Trading View | ✅Yes | None | ✅Yes |
📌 Trading Central | None | ✅Yes | None |
📍 Market Analysis | ✅Yes | ✅Yes | ✅Yes |
📰 News Feed | ✅Yes | ✅Yes | ✅Yes |
🗂️ Blog | ✅Yes | ✅Yes | ✅Yes |
Pros and Cons OANDA Education and Research
✅ Pros | ❎ Cons |
OANDA offers educational materials and tools to beginners | There are limited tools and resources compared to other brokers |
Does OANDA provide research tools and market analysis?
Yes, OANDA offers research tools and market analysis, such as economic calendars, technical analysis, and expert opinions, to assist traders in making informed decisions.
Does OANDA have a demo account?
Yes, OANDA has a demo account that does not expire, which is ideal for traders who want to practice trading, test strategies, or explore the broker’s offer.
OANDA Customer Support
🔎 Customer Support | 🥇 OANDA Customer Support |
⏰ Operating Hours | 24/5 |
🔊 Support Languages | Multilingual |
🥰 Live Chat | ✅Yes |
💌 Email Address | ✅Yes |
☎️ Telephonic Support | None |
5️⃣ The overall quality of OANDA Support | 4/5 |
Pros and Cons of OANDA Customer Support
✅ Pros | ❎ Cons |
OANDA’s customer support is friendly and helpful | There is no 24/7 customer support |
How responsive is OANDA’s customer support?
OANDA’s customer service is renowned for its responsiveness and professionalism, frequently responding quickly to inquiries.
Can I get support from OANDA in Malay?
Yes, OANDA offers multilingual support globally.
OANDA VPS Review
OANDA’s VPS partners offer an even stronger and more dynamic trading experience. With the partner VPS services from OANDA, you can expect minimal latency and improved stability for your trades.
BeeksFX
BeeksFX is a leading provider of forex VPS, with data centers in New York and London. Their fully managed VPS offers incredibly low latency within the retail forex industry, ensuring accurate transaction execution.
With BeeksFX’s reliable VPS, you can experience enhanced OS performance and dependability while executing your strategies 24/5. This allows for continuous monitoring and response to market conditions without interruption.
Liquidity Connect
Liquidity Connect, the leading technology provider of outsourced Infrastructure as a Service (IaaS), enables efficient business operations in the Global Financial Markets. Their primary focus lies in achieving minimal latency for optimal performance.
Are there any costs associated with OANDA’s VPS service?
Yes, there could be fees charged for VPS. However, OANDA does not specify this but indicates that Malaysians can contact [email protected] for more information.
How can I access OANDA’s VPS service?
To access OANDA’s VPS service, you must apply to their platform, adhering to the provided guidelines and eligibility requirements.
OANDA Cashback Rebates Features and Conditions
OANDA acknowledges the importance of rewarding traders for their commitment and trading activity. Through the Advanced Trader program, Malaysian traders with Standard and Core Accounts can receive up to $15 per million traded in forex cashback. This initiative seeks to improve the trading experience by providing tangible incentives. Those participating in the Elite Trader Program can earn up to $17 per $1 million traded.
These forex trading rebates represent a portion of the transaction cost returned to traders for each trade. Consequently, traders enjoy a reduced spread and an improved win ratio, contributing to a more favorable trading environment. As part of its comprehensive offerings, OANDA takes pride in providing such rebates to traders, as it is renowned for its dedication to providing valuable services.
OANDA’s rebate initiative, known as the “Elite Trader” program, is specifically designed to recognize the contributions of high-volume traders. This program offers cash rebates between $5 and $17 per million traded. The Elite Trader program’s primary objective is to offer active traders a rebate bonus, thereby reducing their overall trading costs.
By providing this opportunity, OANDA demonstrates its dedication to traders and seeks to make trading more advantageous and cost-effective. In addition, OANDA’s dedication to its traders includes providing the Advanced Trader account. This account type enables traders to earn up to USD 15 per million in rebates based on their deposits and monthly trading volume.
Through this initiative, OANDA aims to provide enhanced value to its clients by fostering an environment that encourages increased trading activity and rewarding traders for their dedication.
Who is eligible for OANDA’s cashback rebates?
High-volume traders meeting the required trading volumes are eligible for OANDA rebates.
How are OANDA’s cashback rebates calculated?
Cashback rebates from OANDA are typically calculated based on trading volume or spreads, with specific calculation methods detailed in their program guidelines.
OANDA Future Vision
According to OANDA, “At OANDA, we are motivated by a singular and ambitious vision. We intend to transform all aspects of how the world interacts with currencies, including trading and using currency data and information.
Our dedication to innovation, transparency, and excellence drives our pursuit of this vision as we reshape the currency landscape and provide individuals and businesses with the tools and insights they need to navigate global financial markets.
We are shaping the future of currency interaction together, one transaction at a time.”
OANDA Web Traffic Report
🌎 Global Rank | 7,890 |
🚩 Country Rank | 8,477 |
📈 Category Rank | 81 |
📉 Total Visits | 7.4 million |
📊 Bounce Rate | 46.42% |
↪️ Pages per Visit | 4.62 |
⏰ Average Duration of Visit | 00:02:21 |
OANDA Sponsorships
Sponsorship with the New York Red Bulls
OANDA made a significant move in the sponsorship by becoming the Official Marketing Partner of the New York Red Bulls, a Major League Soccer (MLS) team. OANDA’s first sports sponsorship was announced as a multi-year jersey sleeve sponsorship agreement.
The partnership with the New York Red Bulls represents a strategic alignment between OANDA’s global presence in the forex trading platform and the fast-paced world of professional soccer.
OANDA’s branding will appear on the team’s official jersey sleeve patch, increasing visibility and association with the sport.
Other Sponsorships
While the partnership with the New York Red Bulls is a prominent example of OANDA’s sponsorship activities, OANDA may have been involved in other sponsorships and collaborations.
Additional sponsorship details may be available on platforms that track sponsorship activities or directly from OANDA’s official website and press releases.
OANDA Geographic Reach and Limitations
OANDA Current Expansion Focus
OANDA is currently expanding across Asia, Europe, and North America, more specifically in these regions:
- ✅ Asia – Singapore and Japan
- ✅ Oceania – Sydney
- ✅ Europe – London, Germany, Poland, and Malta
- ✅ North America – United States (New York) and Canada
Countries not accepted by OANDA
There are currently no restrictions as OANDA has offices around the globe with multiple regulations in each district.
Popularity among Malaysian traders who choose OANDA
OANDA is ranked among the top 20 forex brokers for Malaysian traders.
In which countries is OANDA available?
OANDA operates in numerous countries worldwide, but availability varies by region, and local regulations should be verified.
Does OANDA offer localized support for different countries?
Yes, OANDA offers regionally tailored support and services, enhancing international traders’ user experience.
Oanda – Best Countries by Traders
🔎 Country | 📉 Market Share |
🥇 United States | 21.8% |
🥈 United Kingdom | 6.8% |
🥉 Germany | 6.4% |
🏅 Canada | 3.9% |
🎖️ Spain | 2.9% |
OANDA vs IC Markets vs NinjaTrader – a Comparison
🔎 Broker | 🥇 OANDA | 🥈 IC Markets | 🥉 NinjaTrader |
📈 Regulation | IIROC, ASIC, CFTC, NFA, FCA, FFAJ, JFSA, MAS, MFSA, BVI FSC | ASIC, CySEC, FSA, SCB | NFA |
📉 Trading Platform | MetaTrader 4 MetaTrader 5 OANDA Platform FxTrade | MetaTrader 4 MetaTrader 5 cTrader | NinjaTrader Desktop NinjaTrader Mobile CQG Mobile |
💴 Withdrawal Fee | ✅Yes | None | ✅Yes |
🆓 Demo Account | ✅Yes | ✅Yes | ✅Yes |
💵 Min Deposit | 0 MYR | 930 MYR | 185 MYR |
📊 Leverage | 1:888 | 1:500 | 1:50 |
💹 Spread | From 0.2 pips | From 0.0 pips | 1.1 pips |
💶 Commissions | From $35 | From $3 to $3.5 | From $0.09 |
⛔ Margin Call/Stop-Out | 100%/ 50% | 100%/50% | None |
▶️ Order Execution | Market | Market | Instant, Market |
🎁 No-Deposit Bonus | None | None | None |
🪙 Cent Accounts | None | None | None |
✔️ Securities Commission of Malaysia (SCM)Regulation | None | None | None |
💷 MYR Deposits | ✅Yes | None | None |
⏩ MYR Account | None | None | None |
⏰ Customer Service Hours | 24/5 | 24/7 | 24/5 |
🔟 Retail Investor Accounts | 3 | 3 | 2 |
☪️ Islamic Account | ✅Yes | ✅Yes | None |
↪️ Minimum Trade Size | 0.01 lots | 0.01 lots | 0.01 lots |
➕ Maximum Trade Size | 1,000 lots | Unlimited | 100 lots |
⏲️ Minimum Withdrawal Time | 1 business day | Instant | Within 24 hours |
⌚ Maximum Estimated Withdrawal Time | 2 – 5 Working Days | Up to 14 business days | Between 5 to 7 working days |
💰 Instant Deposits and Instant Withdrawals | ✅ Yes, Deposits | ✅ Yes, on PayPal, Neteller, and Skrill | None |
Oanda Alternatives
- 🥇 Admirals is a well-known broker that provides a vast array of trading instruments and platforms and is renowned for its user-friendly interface and excellent customer service. It is a suitable alternative to OANDA for novice and seasoned traders due to its competitive spreads and advanced analytical tools.
- 🥈 Another prominent broker, XM, emphasizes educational resources and provides a variety of account types to meet traders’ varying requirements. With a strong presence in multiple countries, XM is an attractive option due to its adaptability and commitment to transparency.
- 🥉 The Australian-based broker GO Markets focuses on providing a seamless trading experience with low spreads and various trading platforms. It is a viable alternative to OANDA for traders who seek a modern and responsive platform due to its commitment to technological innovation and customer-centric approach.
OANDA Awards and Recognition
OANDA received the following recent awards and recognition:
- ✅ OANDA was Recognized as the Best in the Industry for 2021 (TradingView Broker Awards, 2021).
- ✅ OANDA was named the best place to open a CFD or Forex account in 2021 (TradingView Broker Awards 2021).
- ✅ OANDA won the Best Trading Software Award (Online Personal Wealth Awards, 2021).
- ✅ OANDA’s mobile platform/application won the highest award for customer satisfaction (Investment Trends 2021 US Leverage Trading Report, Margin Forex).
and many more!
Our Experience with OANDA
Overall, OANDA has proven to be a trustworthy and user-friendly trading platform for multiple financial instruments. The registration procedure was straightforward, and the trading options provided flexibility to accommodate a variety of investment strategies.
Furthermore, the educational resources were especially beneficial for novice and seasoned traders, providing insight and direction for navigating the complex trading world. OANDA’s transparent pricing and lack of hidden fees contributed to an overall positive experience.
OANDA Trading Platform
Its user-friendly design and robust functionality distinguished the OANDA trading platform. Whether utilizing MetaTrader 4, MetaTrader 5, FxTrade, or OANDA’s proprietary platform, the experience was fluid and effective.
The platforms provided real-time data, customizable charts, and various analytical tools that helped traders make informed trading decisions.
Equally impressive was the mobile application, which enabled mobile trading without sacrificing essential features. Incorporating risk management tools improved the trading experience by providing a feeling of security and command.
Quality of Customer Service
In our experience, OANDA’s customer service was commendable. The support team was accessible via multiple channels, including live chat, email, and the phone, and they provided prompt and competent assistance.
The representatives clearly responded to inquiries and demonstrated a genuine understanding of trading complexities. The availability of support in multiple languages demonstrates OANDA’s dedication to serving international customers.
However, the only minor disadvantage was occasional delays during peak hours, but the support team’s overall service quality and responsiveness more than made up for this.
OANDA Response Time
🔎 Support Channel | ⏰ Average Response Time | ⏱️ User-based Response Time |
☎️ Phone | 5 minutes | 2 – 6 minutes |
1 working day | Same-day | |
🥰 Live Chat | 5 minutes | 2 – 3 minutes |
❤️ Social Media | 1 hour | 5 minutes |
👍 Affiliate | 1 working day | Same-day |
Recommendations according to our in-depth review of OANDA
According to our in-depth review of Oanda, the following recommendations are made to improve the trading process:
- ✅ While the mobile app is robust, adding more advanced analytical tools and customization options could provide a more all-encompassing mobile trading experience.
- ✅ Clear communication and greater transparency regarding the terms and conditions of bonus programs, including welcome and referral bonuses, would increase comprehension and accessibility.
- ✅ In addition to its existing sponsorships, OANDA could investigate additional community engagement initiatives and partnerships that align with its brand values and target audience.
- ✅ Implementing and highlighting sustainability practices within the company’s operations could resonate with environmentally conscious traders and set OANDA apart.
- ✅ While educational resources are valuable, further expansion into specialized topics and advanced trading strategies could benefit experienced traders.
- ✅ Offering accounts denominated in Malaysian Ringgit (MYR) would cater to the unique needs of Malaysian traders and increase the platform’s popularity in the region.
Finally, Increasing staffing or implementing AI-driven support could improve responsiveness by addressing occasional delays in customer service during peak hours.
OANDA Customer Reviews
🥇 Great Support!
I had the opportunity to engage in a conversation with an individual named Daniel, who proved to be exceedingly helpful. Despite my initial heightened frustration and anger, he adeptly managed the situation, soothing my emotions and effectively addressing all concerns. His competence and adeptness in handling the matter were truly commendable. – Othman Abrams
🥈 Satisfied!
A challenge arose in the execution of my trades on the trading platform. However, with OANDA’s intervention and subsequent resolution, I experienced a remarkable 20% profit from a single trade. The team exhibited high professionalism, displaying courtesy and politeness throughout the interaction. Their proficiency ensured the prompt resolution of the issue, culminating in a highly satisfactory conclusion to my day of trading. – Saiful Ibrahim
🥉 Seamless Sign-Up
The process of initiating an account was seamlessly executed, followed by a prompt communication from Luke, an exceptionally helpful account manager. Luke’s extensive knowledge and swift responses contributed to a satisfying experience, as he readily addressed all inquiries. The level of service provided proved to be quite gratifying. – Shelley Hashim
Pros and Cons of Trading with OANDA
✅ Pros | ❎ Cons |
Offers a comprehensive educational section for traders of all levels | Some traders do not have access to negative balance protection |
OANDA has a clear and transparent fee structure | Some withdrawal methods, particularly international transfers, may incur high fees |
OANDA offers an unlimited demo account | Trading with OANDA Global Markets Ltd may be subject to limited regulatory oversight in some jurisdictions |
In Conclusion
In our exhaustive examination of OANDA, we delved into numerous facets of the platform, including its trading options, customer service, financial standing, and involvement in the community.
According to our research, OANDA is a reputable and trustworthy trading platform that caters to various traders.
According to our experience, the trading platforms provided by OANDA, such as MetaTrader 4, MetaTrader 5, and their proprietary platform, are user-friendly and equipped with advanced tools that enable traders to make informed decisions.
The seamless integration of mobile trading and risk management tools adds to the overall appeal. The support team’s accessibility and professionalism demonstrate OANDA’s dedication to customer satisfaction. Even though there were occasional delays, the service quality was commendable.
In addition to contributing to a positive user experience, the educational resources and transparent pricing further enhance the quality of the service.
We also observed OANDA’s community involvement, especially its sponsorship of the New York Red Bulls, which reflects a broader marketing strategy and alignment with popular culture.
Furthermore, the reviewed financial data indicates a solid and transparent financial position that adheres to regulatory requirements.
The welcome bonus and affiliate program provide additional incentives, and the detailed procedures for account management, deposits, and withdrawals demonstrate a well-organized and considerate approach to user requirements.
However, it is important to note that, as with any platform, OANDA may not be suitable for every trader. Depending on personal preferences and trading strategies, some traders may prefer alternatives.
Our Review Methodology: For each of our broker evaluations, we investigate, evaluate, analyze, and compare what we feel to be the most crucial criteria to consider when selecting a broker. Based on our findings, this evaluation comprises positives, disadvantages, and an overall score. We want to assist you in locating the ideal broker for your requirements.
Our broker review should not be considered financial advice. However, traders are urged to seek professional financial advice before making investment decisions.
Addendum/Disclosure: No matter how diligently we strive to maintain accuracy, the forex market is volatile and may change anytime, even if the information supplied is correct when going live.
Investor Warning: Foreign currency trading on margin is associated with an elevated risk and may not be appropriate for all Malaysian investors.
Before engaging in foreign currency or Contract for Difference (CFD) trading, you must evaluate your investing goals, expertise, appetite for risk, and willingness to be exposed to risk. In addition, you should not start investing capital you cannot afford to lose because you could lose part of your original investment.
Frequently Asked Questions
What is OANDA?
OANDA is a global online forex broker that provides trading services in various financial instruments. It offers trading platforms such as FxTrade, OANDA, MetaTrader 4, and MetaTrader 5.
How long does it take to withdraw from OANDA?
Withdrawals take one to five working days, depending on your withdrawal method.
Does OANDA have VIX 75?
No, OANDA does not currently offer VIX 75.
Does OANDA have Nasdaq 100?
Yes, OANDA has NASDAQ as a CFD on Indices. Furthermore, Malaysians can trade CFD shares listed on the Nasdaq 100.
Does OANDA offer MYR-denominated accounts in Malaysia?
No, OANDA does not offer MYR-denominated accounts for Malaysian traders.
How can I deposit funds into my OANDA account in Malaysia?
Malaysian traders can fund their OANDA accounts using various methods, including bank transfers and credit cards.
Is OANDA Safe or a Scam?
OANDA is a safe broker that is multi-regulated, multi-award-winning, and with a trust score of 93%.
Does OANDA offer a welcome bonus for Malaysian traders?
Yes, OANDA offers a variety of promotions, such as welcome bonuses, subject to terms and conditions.
Is OANDA regulated?
Yes, OANDA is well-regulated globally by 8 tier-1 and 2 tier-3 regulators.
Is OANDA’s trading platform available on mobile in Malaysia?
Yes, OANDA provides a mobile platform enabling Malaysian traders to trade while on the go. It is compatible with iOS and Android devices.
What are the trading hours for OANDA in Malaysia?
OANDA’s trading hours align with the global forex market, allowing Malaysian traders to trade 24 hours a day, five days a week.