OANDA is a CFD and forex broker founded in 1996, regulated by the FCA (United Kingdom), the MFSA (Malta, EU entity), ASIC (Australia) and the NFA/CFTC (United States) (verified 10/11/2026). It requires no minimum deposit and offers two pricing models: a spread-only account and a Core Pricing account with a lower spread plus a commission (around $7 per round-turn lot, to be confirmed depending on the entity). It is a solid broker for trading forex and CFDs, although its instrument range is narrower than that of its competitors.
Updated: 10 November 2026.
About broker OANDA
OANDA is one of the longest-standing brokers in online foreign exchange. Founded in 1996 in Toronto by Michael Stumm, a computer science professor, and Richard Olsen, an exchange-rate specialist, the company first made its name with its exchange-rate data (the OANDA currency converter is still a reference), before launching its own trading platform. Its head office is now located in New York, United States.
OANDA mainly operates as a market maker on its retail accounts, with well-regarded execution and widely used analysis tools, in particular for forex scalping.
Company profile
| Item | Detail |
|---|---|
| Year founded | 1996 |
| Founders | Michael Stumm and Richard Olsen |
| Head office | New York, United States |
| Regulators | FCA (UK), MFSA (Malta, EU), ASIC (Australia), NFA/CFTC (US), MAS (Singapore), CIRO (Canada) |
| Number of clients | Not disclosed |
| Account types | Spread-only (Standard) and Core Pricing (+ commission) |
Regulation and safety of funds
OANDA's standout strength is its regulatory framework: the broker is registered with the NFA and regulated by the CFTC in the United States, by the FCA in the United Kingdom, by the MFSA in Malta for the European Union, and by ASIC in Australia (verified 10/11/2026). Client funds are segregated from the company's funds, and market access depends on the entity that opens your account. Through its European entity (OANDA Europe Markets), clients trade under a MiFID II framework with 30:1 retail leverage.
Fees and spreads
OANDA applies two pricing models: Spread Only, where the whole cost is bundled into the spread, and Core Pricing, which combines a lower spread with a per-trade commission. On the spread-only account, the EUR/USD spread averages around 1.0 to 1.4 pip depending on trading sessions (verified 10/11/2026).
| Account | EUR/USD spread | Commission | Minimum deposit |
|---|---|---|---|
| Standard (Spread Only) | from ~1.0-1.4 pip | $0 | $0 |
| Core Pricing | reduced spread | around $7 per round-turn lot (to be confirmed depending on the entity) | $0 |
Other fees:
- Swaps/overnight financing: calculated and displayed position by position on the platform, before each trade (verified 10/11/2026).
- Inactivity fees: no inactivity fee highlighted by OANDA in the information published in 2026 (to be confirmed for your entity).
- Currency conversion shown before execution; no known deposit or withdrawal fees (verified 10/11/2026).
Competitor comparison table
| Broker | Regulation | Min deposit | EUR/USD spread | Max leverage (EU) | Platforms |
|---|---|---|---|---|---|
| OANDA | FCA, MFSA, ASIC, NFA | $0 | from ~1.0 pip | 30:1 | OANDA Trade, MT4, TradingView |
| Pepperstone | FCA, ASIC, CySEC | $0 | from ~0.6 pip (Raw) | 30:1 | MT4, MT5, cTrader, TradingView |
| XM | CySEC, FCA, ASIC | $5 | from ~1.0 pip | 30:1 | MT4, MT5 |
| FXCM | FCA, ASIC | $0 (varies by entity) | from ~1.3 pip | 30:1 | MT4, TradingView |
| IC Markets | FCA, ASIC, CySEC | $200 | from 0.0 (Raw) | 30:1 | MT4, MT5, cTrader, TradingView |
Indicative data verified on 10/11/2026 in our dedicated reviews: Pepperstone review 2026, XM review 2026, FXCM review 2026.
Platforms and instruments
| Platform | Web | PC software | iOS | Android |
|---|---|---|---|---|
| OANDA Trade (proprietary) | Yes | Yes | Yes | Yes |
| MetaTrader 4 | Yes | Yes | Yes | Yes |
| TradingView (integration) | Yes | — | Yes | Yes |
- Forex: more than 70 currency pairs.
- Indices: main global indices (US, Europe, Asia).
- Commodities: energy and metals.
- Metals: gold, silver.
- Bonds and crypto: available depending on the entity (to be confirmed for your jurisdiction).
- Share CFDs: limited offering depending on the entity, not disclosed.
Total: not officially disclosed by OANDA (verified 10/11/2026).
Deposits and withdrawals
- Methods: bank transfer, card (credit/debit); e-wallets depending on the entity (to be confirmed).
- Minimum amount: no minimum deposit required.
- Fees: no deposit or withdrawal fees charged by OANDA (to be confirmed depending on the entity).
- Times: card deposits almost instant; withdrawals processed within 1 to 2 business days (verified 10/11/2026).
Leverage and demo account
Leverage reaches 30:1 for EU retail clients on major currency pairs, and up to 100:1 or 500:1 depending on jurisdiction and professional status (to be confirmed for your entity). The demo account is available free of charge on the OANDA Trade platform, a good way to test spreads and execution before committing.
Pros and cons
Pros:
- One of the strongest regulatory setups on the market (US, UK, EU, Australia).
- No minimum deposit.
- No hidden fees: spreads and commissions shown before execution.
- High-quality analysis tools and API, popular with algorithmic traders.
Cons:
- A narrower instrument range than competitors (the total is not even disclosed).
- Standard spreads slightly above Raw-account ECN brokers.
- No cTrader and the MetaTrader offering limited to MT4 depending on the entity.
Who is OANDA for? CFD broker or prop firm?
OANDA suits traders who prioritise regulatory safety, small position sizes (fractional lots) and algorithmic forex trading. If you are mainly after very low fees on a Raw account, brokers such as IC Markets or Pepperstone are more competitive.
Be careful: with a classic CFD broker like OANDA, you trade with your own money and leverage, so every loss is real. A prop firm works differently: you pay for a challenge, and if you pass it, you trade funded capital for a share of the profits (often 80-90%) with no risk beyond the fees you paid. To compare offers, check our prop firm comparison tool. We also offer challenge-passing support and management of funded accounts with our software.
FAQ: frequently asked questions about OANDA
Is OANDA regulated in France? OANDA has no AMF entity, but it operates in the EU through OANDA Europe Markets, regulated by the MFSA (Malta), with a MiFID II European passport (verified 10/11/2026).
What is the minimum deposit at OANDA? There is no minimum deposit: you can open an account and trade with the amount of your choice (verified 10/11/2026).
What are OANDA's spreads on EUR/USD? Spread-only account: about 1.0 to 1.4 pip on average. Core Pricing account: reduced spread with a commission of around $7 per round-turn lot (to be confirmed depending on the entity).
Does OANDA charge inactivity fees? According to the information published in 2026, OANDA does not charge inactivity fees; to be confirmed for your local entity.
Does OANDA offer MetaTrader? Yes, MetaTrader 4 is available, along with its proprietary OANDA Trade platform and a TradingView integration (verified 10/11/2026).
Should you choose OANDA or a prop firm? If you have limited capital and want to trade without risking your own money, a prop firm is more suitable: see our prop firm comparison tool and our challenge-passing services.
Conclusion: our verdict on OANDA in 2026
OANDA remains a safe bet in retail forex: 30 years of history, multi-layer regulation and welcome fee transparency. Its standard pricing is, however, a bit high compared with competitors' Raw accounts. If your goal is not to commit your own capital but to trade funded money, note that a prop firm generally lets you start with the risk limited to the challenge fee. To choose your programme and get support through validation, visit Fundedtrader.fr: a complete comparison of the best prop firms of 2026, challenge-passing support and funded account management.
