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Oanda Review

4.6/5 - (15 votes)

Oanda review

 

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 Execution4/5
📉 Commissions and Fees4/5
📊 Range of Markets5/5
📌 Variety of Markets5/5
📍 Withdrawal Speed4/5
🥰 Customer Support4/5
💻 Trading Platform5/5
🖋️ Education4/5
📝 Research5/5
🏦 Regulation5/5
📱 Mobile Trading5/5
💯 Trust Score93%

 

Oanda Review

 

Oanda Review – Analysis of Brokers’ Main Features

 

  1. ☑️ Oanda Overview
  2. ☑️ Oanda Detailed Summary
  3. ☑️ Oanda – Advantages over Competitors
  4. ☑️ Who will Benefit from Trading with OANDA?
  5. ☑️ OANDA Safety and Security
  6. ☑️ OANDA Bonus Offers and Promotions
  7. ☑️ OANDA Affiliate Program Features
  8. ☑️ Oanda Minimum Deposit
  9. ☑️ OANDA Account Types and Features
  10. ☑️ OANDA Base Account Currencies and Basic Order Types
  11. ☑️ How to Open and Close an OANDA Account
  12. ☑️ OANDA Trading Platforms
  13. ☑️ Which Markets Can You Trade with OANDA?
  14. ☑️ OANDA Fees, Spreads, and Commissions
  15. ☑️ OANDA Deposits and Withdrawals
  16. ☑️ OANDA Education and Research
  17. ☑️ OANDA Customer Support
  18. ☑️ OANDA VPS Review
  19. ☑️ OANDA Cashback Rebates Features and Conditions
  20. ☑️ OANDA Future Vision
  21. ☑️ OANDA Web Traffic Report
  22. ☑️ OANDA Sponsorships
  23. ☑️ OANDA Geographic Reach and Limitations
  24. ☑️ Oanda – Best Countries by Traders
  25. ☑️ OANDA vs IC Markets vs NinjaTrader – a Comparison
  26. ☑️ Oanda Alternatives
  27. ☑️ OANDA Awards and Recognition
  28. ☑️ Our Experience with OANDA
  29. ☑️ Recommendations according to our in-depth review of OANDA
  30. ☑️ OANDA Customer Reviews
  31. ☑️ Pros and Cons of Trading with OANDA
  32. ☑️ In Conclusion
  33. ☑️ Frequently Asked Questions

 

 

Oanda Review - Analysis of Brokers' Main Features

 

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 Overview

 

Oanda Detailed Summary

 

🔎 Broker🥇 Oanda
🏦 HeadquarteredUnited States
🌎 Global OfficesSingapore, Sidney, Tokyo, London, Germany, Poland, Malta, United States, Canada
📌 Local Market Regulators in MalaysiaSecurities Commission of Malaysia (SCM)
📍 Foreign Direct Investment in Malaysia15.11 billion USD (2022)
📈 Foreign Exchange Reserves in Malaysia103.4 billion USD (July 2025)
📉 Governor of SEC in MalaysiaShaik Abdul Rasheed Abdul Ghaffour is the Governor of the Central Bank of Malaysia
📊 Accepts Malaysia Traders✅Yes
💹 Year Founded1996
☪️ Islamic Account✅Yes
🆓 Demo Account✅Yes
⏰ Non-expiring Demo✅Yes
⏱️ Demo DurationUnlimited
5️⃣ Retail Investor Accounts5
↪️ PAMM AccountsNone
💧 Liquidity ProvidersJP Morgan, Deutsche Bank, Citibank, UBS, Morgan Stanley, Citadel Securities, Jump Trading, Credit Suisse
🤝 Affiliate Program✅Yes
📈 Order ExecutionMarket
📉 OCO Orders✅Yes
📊 One-Click Trading✅Yes
📌 Scalping✅Yes
📍 Hedging✅Yes
↪️ Expert Advisors✅Yes
📰 News Trading✅Yes
▶️ Trading API✅Yes
⏩ Starting spreadFrom 0.2 pips
💴 Minimum Commission per TradeFrom $35
💹 Decimal Pricing5th Decimal after the comma
💱 Margin Call100%
⛔ Stop-Out50%
📈 Minimum Trade Size0.01 lots
📉 Maximum Trade Size1,000 lots
🪙 Crypto trading offered✅Yes
💷 Offers an MYR AccountNone
👤 Dedicated Malaysian Account ManagerNone
✔️ Maximum Leverage1:888
❌ Leverage Restrictions for MalaysiaNone
💷 Minimum Deposit (MYR)0 MYR ($0)
💶 Deposit CurrenciesAll, per region
💵 MYR Deposits Allowed✅Yes
💴 Account Base CurrencyUSD, EUR, HKD, SGD
👥 Active Malaysian Trader Stats4 million+
👤 Active Malaysian-based OANDA customersUnknown
🔃 Malaysian Daily Forex Turnover15 billion USD (Average for August 2025)
⏰ Minimum Withdrawal Time1 business day
⏱️ Maximum Estimated Withdrawal Time2 – 5 Working Days
⏲️ Instant Deposits and Instant Withdrawals✅Yes
🔁 Segregated Accounts with Malaysian BanksNone
🖥️ Trading Platform TimeNew York Time
💻 Observe DST ChangeNY Time
💴 Offers USD/MYR currency pairNone
📈 USD/MYR Average SpreadNone
📉 Offers Malaysian Stocks and CFDsNone
📊 Languages supported on the WebsiteEnglish, Chinese (Simplified), Chinese (Traditional), French, Spanish, Portuguese, Vietnamese, Thai, Malay, Indonesian
🥰 Customer Support LanguagesMultilingual
➕ Copy Trading SupportNone
⏰ Customer Service Hours24/5
🥰 Malaysian-based customer supportNone
🎁 Bonuses and Promotions for Malaysia Traders✅Yes
🖍️ Education for Malaysian beginners✅Yes
💻 Proprietary trading software✅Yes
😎 Most Successful Trader in MalaysiaRayn Lim (Net Worth is private)
❤️ Is OANDA a safe broker for Malaysian Traders✅Yes
🔟 Rating for OANDA Malaysia8/10
💯 Trust score for OANDA Malaysia93%

 

Oanda Detailed Summary

 

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!

 

Oanda - Advantages over Competitors

 

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.

 

 

Who will Benefit from Trading with OANDA

 

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 CorporationUnited States-NFA1NFA ID 0325821
2️⃣ OANDA (Canada) Corporation ULCCanada-IIROC1IIROC
3️⃣ OANDA Europe LimitedUnited Kingdom7110087FCA1542574
4️⃣ OANDA Asia Pacific Pte LtdSingapore200704926KMAS1200704926K
5️⃣ OANDA Australia Pty LtdAustraliaABN 26 152 088 349ASIC1AFSL No. 412981
6️⃣ OANDA Japan Co. LtdJapan2137FFAJ11571
FIBO 2137
7️⃣ OANDA Japan, IncJapan40100011229451JFSA140100011229451
8️⃣ OANDA Europe Markets LimitedMaltaC95813MFSA3VLT1455
9️⃣ OANDA Global Markets LtdBritish Virgin IslandsBVI 2026433BFI FSC32026433

 

OANDA Protection of Client Funds

 

🔎 Security Measureℹ️ Information
🔒 Segregated Accounts✅Yes
🔏 Compensation Fund MemberNone
🔐 Compensation AmountNone
🔓 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 industryOANDA 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 Safety and Security

 

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 Welcome Bonus

 

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 Referral Bonus

 

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 Affiliate Program Features

 

Oanda Minimum Deposit

 

🔎 Live Account💴 Minimum Dep.
🥇 Standard0 MYR / 0 USD
🥈 Core0 MYR / 0 USD
🥉 Swap-Free0 MYR / 0 USD
🏅 Premium0 MYR / 0 USD
🎖️ Premium Core0 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 Minimum Deposit

 

OANDA Account Types and Features

 

🔎 Live Account💴 Minimum Dep.📈 Average Spread💵 Commissions💶 Average Trading Cost
🥇 Standard0 MYR / 0 USD1.1 pips$011 USD
🥈 Core0 MYR / 0 USD0.2 pips$40 per million10 USD
🥉 Swap-Free0 MYR / 0 USD1.6 pips$016 USD
🏅 Premium0 MYR / 0 USD0.8 pips$08 USD
🎖️ Premium Core0 MYR / 0 USD0.2 pips$35 per million9 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 NeededNo, not for account deposits under $9,000
📉 Average SpreadsFrom 1.1 pips
💴 Commissions (Per 1 mil traded)None; only the spread is charged
📊 Maximum LeverageAccounts opened before Oct 2022 – 1:200
Accounts opened after October 2022 – 1:888
↪️ Minimum lot size0.01 lots
⚙️ Instruments200+
⛔ Stop-Out50%
🫰🏻 One-Click Trading offered✅Yes
💹 Strategies allowed✅Yes
💵 Base Account CurrencyUSD, EUR, HKD, SGD
🖥️ Available Platforms on this accountMetaTrader 4
MetaTrader 5
FxTrade
📍 Acceptance CriteriaAll traders are welcome
☑️ Additional Benefits on this accountMT4 and MT5 Premium App
Signal Centre (Acuity)

 

OANDA Account Types

 

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 NeededNo, not for account deposits under $9,000
📉 Average SpreadsFrom 0.2 pips
📊 Commissions (Per 1 mil traded)$40
📌 Maximum LeverageAccounts opened before Oct 2022 – 1:200
Accounts opened after October 2022 – 1:888
📍 Minimum lot size0.01 lots
⚙️ Instruments200+
⛔ Stop-Out50%
💹 One-Click Trading offered✅Yes
▶️ Strategies allowed✅Yes
🪙 Base Account CurrencyUSD, EUR, HKD, SGD
💻 Available Platforms on this accountMetaTrader 4
MetaTrader 5
FxTrade
↪️ Acceptance CriteriaAll traders are welcome
🤝 Additional Benefits on this accountMT4 and MT5 Premium App
Signal Centre (Acuity)

 

OANDA Account Types

 

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 NeededNo, not for account deposits under $9,000
📉 Average SpreadsFrom 1.6 pips
📊 Commissions (Per 1 mil traded)None; only the spread is charged
💹 Maximum LeverageAccounts opened before Oct 2022 – 1:200
Accounts opened after October 2022 – 1:888
↪️ Minimum lot size0.01 lots
🖇️ Instruments26 halal instruments
⛔ Stop-Out50%
▶️ One-Click Trading offered✅Yes
⏩ Strategies allowed✅Yes
💷 Base Account CurrencyUSD
💻 Available Platforms on this accountMetaTrader 4
🔢 Acceptance CriteriaAvailable at the discretion of OANDA
🔁 Additional Benefits on this accountMT4 and MT5 Premium App
Signal Centre (Acuity)

 

OANDA Account Types

 

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 SpreadsFrom 0.8 pips
📊 Commissions (Per 1 mil traded)None; only the spread is charged
💹 Maximum LeverageAccounts opened before Oct 2022 – 1:200
Accounts opened after October 2022 – 1:888
▶️ Minimum lot size0.01 lots
⏩ Instruments200+
⛔ Stop-Out50%
🫰🏻 One-Click Trading offered✅Yes
🚩 Strategies allowed✅Yes
💴 Base Account CurrencyUSD, EUR, HKD, SGD
🖥️ Available Platforms on this accountMetaTrader 5
FxTrade
↪️ Acceptance CriteriaTraders require a 20,000 USD minimum balance with trading volumes of 10 million USD notional (or an equivalent) monthly
📍 Additional Benefits on this accountMT4 and MT5 Premium App
Signal Centre (Acuity)
Account Manager
Zero Deposit Fees
Reimbursement of Banking Fees
Free Withdrawals
Priority Support
Free VPN

 

OANDA Account Types

 

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 SpreadsFrom 0.2 pips
📊 Commissions (Per 1 mil traded)$35
💹 Maximum LeverageAccounts opened before Oct 2022 – 1:200
Accounts opened after October 2022 – 1:888
💱 Minimum lot size0.01 lots
↪️ Instruments200+
⛔ Stop-Out50%
🫰🏻 One-Click Trading offered✅Yes
▶️ Strategies allowed✅Yes
💴 Base Account CurrencyUSD, EUR, HKD, SGD
🖥️ Available Platforms on this accountMetaTrader 5
FxTrade
🤝 Acceptance CriteriaTraders require a 20,000 USD minimum balance with trading volumes of 10 million USD notional (or an equivalent) monthly
🖇️ Additional Benefits on this accountMT4 and MT5 Premium App
Signal Centre (Acuity)
Account Manager
Zero Deposit Fees
Reimbursement of Banking Fees
Free Withdrawals
Priority Support
Free VPN

 

OANDA Account Types

 

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 Demo Account

 

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 goalsThe spreads are wider than that of competitors
There is a free, unlimited demo accountOANDA’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 Professional Account

 

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.

 

OANDA Base Account Currencies and Basic Order Types

 

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.

 

 

How to Open and Close an OANDA Account

 

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 4

 

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 MetaTrader 5 (BVI Website)

 

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 Platform

 

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.

 

Oanda FxTrade

 

Pros and Cons OANDA Trading Platforms

 

✅ Pros❎ Cons
OANDA’s suite of platforms offers Malaysians flexibilityDifferent 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.

 

 

Pros and Cons OANDA Trading Platforms

 

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
📈 Forex481:888
📉 Indices181:200
⚙️ Metals21:200
📊 Shares1,200+1:20
🍎 Commodities101:200
🪙 Cryptocurrencies181:4

 

Broker Comparison for a Range of Markets

 

🔎 Broker🥇 OANDA🥈 IC Markets🥉 NinjaTrader
📈 Forex✅Yes✅Yes✅Yes
💎 Precious Metals✅Yes✅YesNone
📉 ETFsNoneNoneNone
📊 CFDs✅Yes✅YesNone
💹 Indices✅Yes✅YesNone
💱 Stocks✅Yes✅YesNone
🪙 Cryptocurrency✅Yes✅YesNone
📌 OptionsNoneNoneNone
💡 Energies✅Yes✅YesNone
📍 BondsNoneNoneNone

 

Pros and Cons OANDA Range of Markets

 

✅ Pros❎ Cons
OANDA offers a range of share CFDs from exchanges globallyHigh leverage can lead to significant loss
Traders can access 18 global indicesOANDA 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.

 

 

Which Markets Can You Trade with OANDA

 

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 Spreads

 

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 Commissions

 

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 Deposit Fees

 

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 feesOANDA’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 chargedWithdrawal 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.

 

 

Pros and Cons OANDA Trading and Non-Trading Fees

 

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 Transfers3 – 5 Working Days1 – 3 Working Days
💵 Debit CardInstant1 – 3 Working Days
💶 Credit CardInstant1 – 3 Working Days
💷 Bank Wire3 – 5 Working Days2 – 5 Working Days
💳 Bank Transfers3 – 5 Working Days2 – 5 Working Days
💴 Skrill1 Working Day1 Working Day
💵 Neteller1 Working Day1 Working Day
💶 Mobile Bank Transfers3 – 5 Working Days1 Working Day
💷 International e-Wallets3 – 5 Working Days1 Working Day

 

Broker Comparison – Deposit and Withdrawals

 

🔎 Broker🥇 OANDA🥈 IC Markets🥉 NinjaTrader
⏰ Minimum Withdrawal Time1 business dayInstantWithin 24 hours
⏱️ Maximum Estimated Withdrawal Time2 – 5 Working DaysUp to 14 business daysBetween 5 to 7 working days
⏲️ Instant Deposits and Instant WithdrawalsYes, DepositsYes, on PayPal, Neteller, and SkrillNo

 

Pros and Cons of OANDA Deposits and Withdrawals

 

✅ Pros❎ Cons
OANDA offers instant depositsWithdrawal fees are charged on bank wire
Deposit fees are waivedThere 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 Deposits and Withdrawals

 

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 Education and Research

 

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✅YesNone
💹 Trading View✅YesNone✅Yes
📌 Trading CentralNone✅YesNone
📍 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 beginnersThere 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.

 

 

Pros and Cons OANDA Education and Research

 

OANDA Customer Support

 

🔎 Customer Support🥇 OANDA Customer Support
⏰ Operating Hours24/5
🔊 Support LanguagesMultilingual
🥰 Live Chat✅Yes
💌 Email Address✅Yes
☎️ Telephonic SupportNone
5️⃣ The overall quality of OANDA Support4/5

 

Pros and Cons of OANDA Customer Support

 

✅ Pros❎ Cons
OANDA’s customer support is friendly and helpfulThere 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 Customer Support

 

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 VPS Review

 

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 Cashback Rebates Features and Conditions

 

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 Future Vision

 

OANDA Web Traffic Report

 

🌎 Global Rank7,890
🚩 Country Rank8,477
📈 Category Rank81
📉 Total Visits7.4 million
📊 Bounce Rate46.42%
↪️ Pages per Visit4.62
⏰ Average Duration of Visit00:02:21

 

OANDA Web Traffic Report

 

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 Sponsorships

 

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 Geographic Reach and Limitations

 

Oanda – Best Countries by Traders

 

🔎 Country📉 Market Share
🥇 United States21.8%
🥈 United Kingdom6.8%
🥉 Germany6.4%
🏅 Canada3.9%
🎖️ Spain2.9%

 

Oanda - Best Countries by Traders

 

OANDA vs IC Markets vs NinjaTrader – a Comparison

 

🔎 Broker🥇 OANDA🥈 IC Markets🥉 NinjaTrader
📈 RegulationIIROC, ASIC, CFTC, NFA, FCA, FFAJ, JFSA, MAS, MFSA, BVI FSCASIC, CySEC, FSA, SCBNFA
📉 Trading PlatformMetaTrader 4
MetaTrader 5
OANDA Platform
FxTrade
MetaTrader 4
MetaTrader 5
cTrader
NinjaTrader Desktop
NinjaTrader Mobile
CQG Mobile
💴 Withdrawal Fee✅YesNone✅Yes
🆓 Demo Account✅Yes✅Yes✅Yes
💵 Min Deposit0 MYR930 MYR185 MYR
📊 Leverage1:8881:5001:50
💹 SpreadFrom 0.2 pipsFrom 0.0 pips1.1 pips
💶 CommissionsFrom $35From $3 to $3.5From $0.09
⛔ Margin Call/Stop-Out100%/ 50%100%/50%None
▶️ Order ExecutionMarketMarketInstant, Market
🎁 No-Deposit BonusNoneNoneNone
🪙 Cent AccountsNoneNoneNone
✔️ Securities Commission of Malaysia (SCM)RegulationNoneNoneNone
💷 MYR Deposits✅YesNoneNone
⏩ MYR AccountNoneNoneNone
⏰ Customer Service Hours24/524/724/5
🔟 Retail Investor Accounts332
☪️ Islamic Account✅Yes✅YesNone
↪️ Minimum Trade Size0.01 lots0.01 lots0.01 lots
➕ Maximum Trade Size1,000 lotsUnlimited100 lots
⏲️ Minimum Withdrawal Time1 business dayInstantWithin 24 hours
⌚ Maximum Estimated Withdrawal Time2 – 5 Working DaysUp to 14 business daysBetween 5 to 7 working days
💰 Instant Deposits and Instant Withdrawals✅ Yes, Deposits✅ Yes, on PayPal, Neteller, and SkrillNone

 

OANDA vs IC Markets vs NinjaTrader - a Comparison

 

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 Alternatives

 

 

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!

 

OANDA Awards and Recognition

 

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
☎️ Phone5 minutes2 – 6 minutes
💌 Email1 working daySame-day
🥰 Live Chat5 minutes2 – 3 minutes
❤️ Social Media1 hour5 minutes
👍 Affiliate1 working daySame-day

 

Our Experience with OANDA

 

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.

 

 

Recommendations according to our in-depth review of OANDA

 

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

 

 

OANDA Customer Reviews

 

Pros and Cons of Trading with OANDA

 

✅ Pros❎ Cons
Offers a comprehensive educational section for traders of all levelsSome traders do not have access to negative balance protection
OANDA has a clear and transparent fee structureSome withdrawal methods, particularly international transfers, may incur high fees
OANDA offers an unlimited demo accountTrading 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.

 

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