It is hard to find a broker that is highly respected in the Forex market industry like OANDA. Since its establishment in 1996, OANDA has been one of the pioneers in making retail Forex trading real for the public. It leveraged quickly; becoming a true powerhouse of the industry. Aside from the retail Forex trading it provides, OANDA also offers hedge consulting, money transfer processing, basic rate quote streaming services and a number of other related Forex-business services through its worldwide consortium of Forex-related corporations.
It has subsidiaries in the UK, Japan, Singapore, Australia and the U.S. aside from its headquarters in Toronto, Canada, which ensures that it can provide services to its ever-expanding global customer base. It is also in compliance with the regulatory oversight of each office jurisdiction, which is a further indication that clients are well protected in investing in the firm.
OANDA received many awards from the industry along the way, including “Best Mobile Platform” and “Best Customer Service” in 2015. Unlike most trading firms, OANDA accepts U.S. clients, but they are limited to trading Forex.
Why Trade with OANDA?
- Supports more than 60 minor, major, and exotic Forex pairs being offered in the market, along with CFDs for precious commodities, bonds, metals, and stock indices.
- OANDA does not have any escalating benefit structure being tied to client’s account balance.
- OANDA supplements each standard account with a free demo.
- Provides traders with 2 choices when it comes to trading platforms, clients may choose between fxTrade and MetaTrader4. The former is the web-based proprietary version of the firm, while the latter is a popular trading platform having various product offerings.
- Supports mobile trading.
- Fast transaction processing.
The Pioneers of Automated Trading
The fxTrade platform of OANDA was actually notable in the market for pioneering the retail Forex trading platform which is fully automated and is performed online. It allows access to the firm’s trading desk, back office and market making. Not to mention that it efficiently handles the largest volumes in the market which has scaled up over the years.
It was reported that 98% of all transactions on OANDA were accomplished in less than 0.057 seconds for the year ending in August 2015. OANDA servers were estimated by other industry sources to have processed more than one million transactions every day, which causes nearly 20% of all traffic in the industry. These are just a few of the accomplishments OANDA has attained over the past 15 years.