Key Takeaways

  • Top-rated apps & proprietary trading platform.
  • Excellent range of educational materials.
  • Fast, free deposits and withdrawals.
  • Regulated in the USA, Canada, UK, Australia, Japan and Singapore.

We start our Oanda US review by analyzing the overall ratings of this US-based broker. Also, we would like to point out that this review concerns only the Oanda US entity in the USA, a registered FCM and RFED company with the US CFTC and a member of the US NFA.

Oanda Overall rating

Ranked 58 out of 1761 (Forex Brokers)
Overall rating is derived from an aggregate of ratings in multiple categories.
Rating Weight
Real customer rating 3
Pricing rating
Not rated
Customer Support
Not rated

Oanda US pricing: the broker scores 4 out of 5 for its above-average pricing. Oanda US proposes the Spread only account with starting spreads of 1.4 pip and with no trading commissions. The Core Pricing account instead, is offered with starting spreads of 0.5 pip and a below industry average trading commission of just $5 per round lot traded.

Oanda US regulation: the broker scores an excellent 5 out of 5. Several of Oanda’s group entities are regulated by tier-1 financial authorities, and appropriate retail client safety mechanisms are in place.

Oanda US popularity: popular with the trading community, Oanda is a recognizable brand and the broker scores 3.1 out of 5. Oanda has a global presence on several continents, providing traders with excellent trading executions, cutting-edge trading technology and great educational materials.

Oanda US user rating: the broker scores an above-average 4.1 out of 5, with traders praising Oanda US for its flawless deposits and withdrawals processing and trading conditions.

Oanda Regulation / Money Protection

Company Licenses & Regulations Segregated Client Money Deposit Compensation Scheme Negative Balance Protection Rebates Max. Leverage Retail Clients
Oanda Australia Pty Ltd 30 : 1
Oanda Europe Limited up to £85,000 30 : 1
Oanda Japan Co., Ltd 25 : 1
Oanda (Canada) Corporation ULC up to $1,000,000 50 : 1
Oanda Corporation 50 : 1
Oanda Asia Pacific Pte Ltd 50 : 1

Oanda USA regulation: Oanda Corporation is authorized and regulated by the USA National Futures Association (NFA) with an NFA ID 0325821. This entity is also registered with the CFTC as a Retail Foreign Exchange Dealer.

Oanda Canada regulation: Oanda (Canada) Corporation ULC is registered in Canada as a Securities Dealer company. With a registered office at 330 Front Street West, Suite 1200, Toronto, ON M5V 3B7, Canada, the company is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) to provide investment services in Canada.

Oanda UK regulation: Oanda Europe Limited is registered in England and Wales with company number 7110087. The registered office is on the 3rd Floor, 18 St. Swithin's Lane, London EC4N 8AD, United Kingdom. This entity is authorized and regulated by the FCA with license number 542574.

Oanda Australia regulation: Oanda Australia Pty Ltd is registered in Australia with ABN 26 152 088 349. This entity is regulated by the ASIC with license number AFSL 412981.

Oanda Japan regulation: Oanda Japan Co., Ltd, with a registered address at 3-6, Kojimachi, Chiyoda-ku, Tokyo, Japan, is authorized and regulated by Japan's Financial Services Agency (JFSA) with JCN number 4010001122945. The company holds a Type I Financial Instruments Business license, number 2137.

Oanda Singapore regulation: Oanda Asia Pacific Pte Ltd., with a registered address at 50 Collyer Quay #04-03 OUE Bayfront 049321, Singapore, is authorized and regulated by the Monetary Authority of Singapore (MAS) to deal in Over-The-Counter derivatives contracts.

Client Money Protection

Oanda US (Oanda Corporation) does not comply with the highest safety standards regarding clients' funds, by offering segregated accounts. The funds that a customer deposits in its Oanda Corporation Multi-Currency enabled account are comingled with other customer funds and held with banks; they are not held in segregated accounts at such banks.

Oanda Corporation may invest customer funds in CFTC Regulation 1.25 permitted investments. Customer funds are not protected by the Securities Investor Protection Corporation and are not covered by insurance or insured by derivatives clearing organizations in the event of the bankruptcy or insolvency of Oanda Corporation, or the misappropriation of such funds.

Customer funds will be administered according to United States bankruptcy law in the event of the bankruptcy or insolvency of Oanda Corporation.

Regulatory Deposit Insurance

Oanda Corporation (Oanda US) does not provide regulatory deposit insurance. Currently, the regulatory deposit insurance protecting investors' funds, is not a requirement by the USA financial regulators. This means if Oanda Corporation is unable to pay claims, or in case of default, investors might not be entitled to compensation.

Negative Balance Protection

Investors opening a trading account with Oanda Corporation (Oanda US) are not covered by an NBP mechanism. This means customers of Oanda Corporation are not protected from losses bigger than their original investments, or from keeping their accounts balance below zero.

Oanda Cashback rebates

Cash back rebates are paid per round turn lot unless otherwise specified. 1 Lot = 100,000 base currency units traded.
  MT4 fxTrade
Forex$1.00 Per Lot Per 100K USD Traded (paid at $0.50 Per Side)
Payment Options
Monthly Cash Back
Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month.
Forex $1.00 Per Lot Per 100K USD Traded (paid at $0.50 Per Side)
Payment Options
Monthly Cash Back
Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month.
Forex $1.00 Per Lot Per 100K USD Traded (paid at $0.50 Per Side)
Payment Options
Monthly Cash Back
Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month.


Forex Rebates are paid per side.

We cannot open an account for Canadian Residents.

Rebates are not paid on Premium accounts.

What are Oanda rebates?

Oanda rebates are a portion of the transaction cost that is paid back to the client on each trade, resulting in a lower spread and improved win ratio. For example, if your rebate is 1 pip and the spread is 3 pips, then your net spread is only 2 pips.

Many traders initially believe there must be higher costs elsewhere to compensate, however they soon find there is no catch and Forex rebates truly reduce the costs of the transaction and improve their bottom line.

How do Oanda rebates work?

When you link a new or existing forex trading account to us the broker pays us part of their spread or commission profit for every trade you make as compensation for referring a customer to them. We then share the majority of our revenue with you, paying you a cash rebate for each trade you make as thank you for signing up with us.

Unlike some of our competitors your spreads will never increase as a result of using our service! The only difference is: as our client you earn extra cash per trade, making trading through us more profitable than opening direct with the broker. Founded in 2007, we are the original and leading provider of forex rebates. We pay rebates to over 100,000 accounts and traders love our helpful 24 hour live chat, telephone and email support.

How much Oanda rebates can I earn?

Use our forex rebate calculator to estimate your Oanda rebate earnings:

You must enter a valid number

Are Oanda rebates a scam; do my spreads increase?

Oanda rebates paid by legitimate rebate providers are not a scam, however scams do exist. The most common scam is a rebate provider that marks up the spread or commission in order to pay a higher rebate than competitors. Many brokers do allow a referring party, or rebate provider, to markup costs to traders they refer. Obviously this defeats the purpose of the service provided by the rebate provider and thus jeopardizes the viability of the rebate provider’s reputation and business, so a reliable provider wouldn’t consider this. Besides this, certain rebate providers may not pay on time, or not at all. This is why it’s important to choose a reliable provider.

When working with a trustworthy rebate provider, there is no ‘catch’. It is more beneficial to a trader’s financial position to work with a rebate provider than solely with the forex broker.

Are there any other benefits to signing up for Oanda rebates?

It depends on the rebate provider. Due to our unique relationship with many brokers, we have often mediated between brokers and clients in order to help successfully resolve client issues, including clients who are having withdrawal issues. Brokers are often very fast to respond to us, since we typically have many clients with them. Our knowledgeable support team is available 24 hours per day in 8 native languages & 23 total languages for any questions. We also offer trading tools, calculators, reviews and a robust forex education section.

How are forex rebates paid?

Because we deal with so many traders in so many different countries and serve 23 languages we have to cover a wide array of options. Here’s what we offer:

Forex rebate options vary per broker:

Monthly cash back Payments are credited and sent automatically by the 12 of the month following the month rebates are earned in.
Spread or commission reduction The trader actually receives reduced commissions and/or spreads. This is an exciting option offered by some of our top brokers.
Paid direct to brokerage account Cashback is credited directly to the trader’s brokerage account, typically between 1-7 days after the trade is closed. This is another exciting options offered by some of our top brokers.

In the case of the ‘Monthly cash back’ rebate option, monthly payments can be paid via bank wire, Paypal, Skrill, Sticpay, China Unionpay, and Neteller. Some payment methods such as bank wire carries fees and often traders set a custom minimum payment amount in order to accumulate rebates and withdraw their rebates less often than monthly.

Oanda Web traffic

Organic monthly visits 137,200 (100%)
Organic traffic rank 120 out of 1761 (Forex Brokers)
Paid monthly visits 0 (0%)
Total monthly visits 137,200
Bounce rate 49%
Pages per visit 2.31
Average visit duration 00:00:26

Oanda Profile

Company Name OANDA Corporation
Categories Forex Brokers, USA Brokers, Forex Rebates
Primary Category Forex Brokers
Year Founded 1996
Headquarters United States
Office Locations Australia, Japan, Singapore, United Kingdom, United States
Account Currency AUD, CAD, CHF, EUR, GBP, JPY, SGD, USD, HKD
Client funds bank JPMorgan Chase Bank, HSBC
Support Languages English
Funding Methods Bank Wire, Cheque, ACH, Debit Card
Financial Instruments Forex
24 hour support
Segregated Accounts
Islamic Accounts
Accepts Canadian clients
Accepts Japanese Clients
Non expiring demo
Trading API
Cent accounts
Negative balance protection
Social trading
Regulatory deposit insurance
Trailing stops
Interest on margin
Fixed spread
Variable spread
Established in 1996, the Oanda group offers online trading services to customers on a wide range of financial instruments, from forex, commodities, bonds, and metals. The Oanda group has also offices in London and the Asia-Pacific region.

The Oanda group is a well-capitalized forex market maker, and also the authoritative source for currency and exchange data. The Oanda price feed is used by several global companies; Airbnb, Expedia, FedEx and more, tax authorities, accounting firms, and financial institutions, all delivered via its exchange rates API and historical currency converter.

The Oanda US entity provides easy access to over 70 FX pairs, and trading can be done via the MetaTrader4 platform, or via the in-house developed app and platform, Oanda Trade. Traders can also connect TradingView charts to the Oanda broker, and trade directly from TradingView.

Oanda Asset classes

Oanda US proposes a limited selection of financial instruments to its US customers, still, it provides traders with great trading technology. All Oanda US trading platforms are available for desktop and mobile versions.

Currencies: 70+ pairs, including Minor and Exotic crosses.

Cryptocurrencies: crypto CFDs are not offered to clients of Oanda US.

Commodities: commodities CFDs (Gold and Silver, for example) are not offered to clients of Oanda US.

Indices: indices CFDs are not offered to clients of Oanda US.

Stocks: shares CFDs are not offered to clients of Oanda US.

Oanda Account types

  MT4 fxTrade
Maximum leverage50:1
Mobile PlatformMT4 Mobile-
Trading PlatformMT4fxTrader
Spread TypeVariable Spread
Minimum Deposit0
Minimum Trade Size0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts
Maximum leverage 50:1
Trading platform MT4
Mobile platform MT4 Mobile
Spread type Variable Spread
Minimum deposit 0
Minimum Trade Size 0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts
Maximum leverage 50:1
Trading platform fxTrader
Spread type Variable Spread
Minimum deposit 0
Minimum Trade Size 0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

Oanda US offers two trading accounts with two pricing models; spread-only, with variable spreads and no trading commissions and core pricing, also with variable spreads but with a $5 commission charged per round lot.

The Oanda US Standard account allows trading of 70+ forex pairs, traders can choose between both pricing models, and the minimum account balance is $0. The Oanda US Advanced Trader account also allows the trading of 70+ FX pairs, traders can also choose between the two pricing models, but the minimum account balance is $10,000. And the reason for such high balance is simple.

With the Advanced Trader program, traders can earn cash rebates or commission markdowns with a $10,000 deposit, as a tier 1 Advanced Trader loyalty program member. The minimum trading requirement is $10 million in volume. Also worth mentioning:

Swap-free accounts for traders of Islamic belief are currently unavailable.

Social trading, including copy trading, is currently unavailable with Oanda US.

PAMM accounts and MAM accounts (Multi-Account Manager) for money managers are unavailable with Oanda US.

Oanda US’ maximum leverage ratio is up to 50:1.

Oanda Demo account

Oanda demo account gives users the chance to test the broker's pricing and execution on several asset classes, without risking any real money.

The demo account is non-expiring

Virtual funds: unlimited

Leverage: up to 50:1

Trading instruments: forex

Trading platforms: MT4, Oanda Trade

Register for free and test your trading strategies, open a Oanda demo trading account with no risk and no obligation now.

Oanda Pricing

Pricing Spread only Core pricing
EUR/USD Spread from 1.4 pip from 0.0 pip
EUR/USD Commission (1 lot) $0 $5
EUR/USD Swap rate (1 lot) 13-05-2022
  • Long: -2.54
  • Short: +0.44

Spreads and trading commissions

For our Oanda price comparison table, we use the EUR/USD pair as the benchmark, for its popularity with traders and because it is the most traded FX pair.

Oanda US' Standard and Advanced Trader account spreads, with the spread only pricing start at 1.4 pip, with an average of 1.7 pip. The Standard account is commission-free and the ideal solution for investors looking to trade only with the bid/ask prices.

The Standard and Advanced Trader account spreads, with the core pricing model, start at 0.0 pip, with an average of 0.4 pip. The core pricing model attracts trading commissions, of $2.5 per lot, per side ($5 per round lot).

Rollover rates

Oanda US swap rates, as of 13-05-2022, for 1 lot EUR/USD (100,000 units) are -2.54% for holding a long 1 lot position overnight and +0.44% for holding a short 1 lot position.

The 3-day swap rate is charged on Wednesdays at 5:00 pm ET. The funding rate is three times the amount of the daily rate, to reflect pushing forward the settlement by three days instead of one day, thus, covering any positions open over the weekend.

Oanda Deposits / Withdrawals

Oanda US proposes two distinct trading accounts, Standard and Advanced Trader, in just one base currency. Oanda US accepts account deposits with multiple funding methods:

Account currencies: USD.

Standard account minimum deposit: 1,000 USD.

Advanced Trader account minimum deposit: 10,000 USD.

Funding methods: ACH (Automated Clearing House), Debit Cards, Wire Transfer, Checks.

Deposit fees: Oanda US might charge fees for deposits with some funding methods. Please contact customer support for more information.

Deposit processing times: variable, up to 6 business days (bank wires up to 3 working days).

Withdrawal fees: Oanda US might charge fees for withdrawals. Please contact customer support for more information.

Withdrawal processing times: variable, up to 3 business days (bank wires up to 5 working days).

Inactivity fee: Oanda US reserves the right to charge an inactivity fee of $10 per month, charged to accounts if there is no trading activity for 12 months.

For more information, please visit the Oanda US funding methods web page, or log in to your Client Portal.

Oanda Popularity

Oanda is a popular broker in the US, and with retail traders, for its many features:

Client safety mechanisms: broker regulated by the US NFA and CFTC.

Competitive pricing: spreads from 0.0 pip with the core pricing model, low trading commissions of $5 per traded lot.

Execution model: MM.

Trading education: trading courses, technical and fundamental analysis, trading strategies, webinars, calculators, and market insights.

Customer support languages: English.

Overall, the great range of forex pairs available for trading, the competitive spreads of the core pricing model, the fast execution times, merged with the excellent offer of educational materials, position Oanda on the top 5 brokers for popularity with traders opening a trading account in 2022.

Oanda Promotions

No promotions available at the moment.

Oanda FAQs

Is Oanda US a regulated retail forex broker?

Yes, Oanda US is a regulated forex broker. The broker is regulated by the US NFA (National Futures Association) and by the US CFTC (Commodity Futures Trading Commission).

What is Oanda US' minimum deposit?

Oanda US minimum deposit for the Standard account is $0. The Advanced Trader account minimum deposit is $10,000.

What is Oanda US' maximum forex leverage?

Oanda US’ maximum forex leverage ratio for accounts opened with the US regulated entity is 50:1.

Can I earn rebates with Oanda US?

Yes, traders can earn rebates from trading with Oanda US. Please check the cashback rebates section.

What funding methods are accepted by Oanda US?

Oanda US accepts account deposits with ACH, bank wire, debit cards and paper checks.

What account currencies are available with Oanda US?

With Oanda US, traders can open a trading account in USD only.

What trading platforms are available with Oanda US?

Investors can trade the markets via MT4, TradingView charts and Oanda proprietary platform.

Does Oanda US offer Cent accounts?

No, Oanda US does not have Cent accounts.

Does Oanda US have negative balance protection?

No, Oanda US does not have a negative balance protection (NBP) mechanism. Without NBP, traders can lose more than their original investments.

Does Oanda US have regulatory deposit insurance?

No, Oanda US does not have regulatory deposit insurance, as currently, it is not a requirement by US legislation to operate as a forex dealer in the United States.

Does Oanda US have swap-free accounts for traders of Islamic belief?

No, Oanda US does not have swap-free accounts for traders of the Islamic religion.

Does Oanda US accept applications from residents in Japan?

No, Oanda US does not accept applications from residents in Japan.

Does Oanda US accept applications from residents in Canada?

No, Oanda US does not accept applications from residents in Canada.

Does Oanda US allow scalping trading?

Yes, Oanda US allows scalping trading, but not hedge trading.

What is the Oanda US' execution model?

Oanda US’ execution model is MM (Market Maker).

Does Oanda US have mobile trading platforms?

Yes, Oanda US serves clients with the MT4 and Oanda platforms, both available for mobile devices running on iOS and Android systems.

Does Oanda US have a trading API?

Yes, Oanda US has a trading API.

Does Oanda US pay interest on margin?

No, Oanda US does not pay any interest on margin.

What type of spreads are Oanda US' spreads?

Oanda US’ spreads are variable only (from 0.0 pip with the core pricing model). No fixed spread accounts are offered.

Oanda Real customer rating


Oanda reviews by verified customers, cashback rebates, expert ratings, spreads & fees, leverage, demo accounts, downloads, trading platforms and more.

Please make sure your comments are relevant and that they do not promote anything. Irrelevant comments, including inappropriate or promotional links, and comments containing abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind, will be deleted.

Oanda US verified customers, with a live trading account, recommend the broker for its transparent trading conditions, good trading platforms and the deposit/withdrawals process.

Negatively, some users pointed out that the financing fees (swap rates) can be somehow higher when compared with other forex brokers.

Source: Oanda US Review 2022 - Verified Customer Reviews (

Review sources

With an industry presence spanning more than 10 years, we are a leading IB broker of forex and CFDs trading accounts to virtually all of the world's top brokers. One of our primary missions is also to help the trading community make informed decisions, by publishing accurate and unbiased content, supported mainly by primary sources.

These sources may include government data, the information supplied by the broker and data available on the broker's corporate website(s), the analysis and reviews of our in-house industry experts, and the feedback provided by the broker’s verified traders with a live account. The information on this Oanda US review page was also sourced from:

USA's National Futures Association website, Oanda Corporation, company details page.

Oanda US website, Trading Accounts, trading accounts comparison page.

Oanda US website, Pricing, spreads and trading commissions page.

Oanda US website, Help Centre, frequently asked questions page.

FXverify website, Oanda US user reviews by verified traders with a live account, reviews page.

Risk Warning: Before deciding to participate in the forex market, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. You should consider whether you understand how leveraged products work and whether you can afford to take the high risk of losing your money.