OANDA Review 2026
The full OANDA write-up for New Zealand traders: the kitchen inspection, the ingredient costs, the bill, and our straight verdict.
Regulation in New Zealand
| Regulator | ASIC ASIC, Australian Securities and Investments Commission (ASIC) |
| Licence Number | 412981 |
| Regulated Entity | OANDA Australia Pty Ltd |
| Max Leverage (Forex) | 1:30 |
| Minimum Deposit | $0 |
| EUR/USD Spread | From 1.2 pips |
| Instruments | 300+ |
| Platforms | OANDA Trade, MT4, MT5, TradingView |
| Copy Trading | ✗ |
| Real Stocks | ✗ |
| Inactivity fee | Inactivity fee: USD10/month after 12 months |
| Verify on ASIC register → | 412981 |
Verdict
Cooks under ASIC (licence 412981). Cover charge $0. In New Zealand, forex leverage is capped at 1:30.
About OANDA
OANDA opened its doors in 1996 out of a kitchen in New York, USA. Its menu runs to 300 tradeable instruments, forex pairs alongside CFDs on stocks, indices and commodities. It holds licences across several jurisdictions, with the head licence carried by OANDA Australia Pty Ltd under ASIC.
In New Zealand, OANDA serves as OANDA Australia Pty Ltd, cleared by ASIC under licence number 412981. Under ASIC house rules, New Zealand traders are poured no more than 1:30 leverage on forex pairs.
Trading Platforms
Pros
- ASIC regulated, licence 412981
- 300+ instruments to trade
- Negative balance protection in New Zealand
- Platforms: OANDA Trade, MT4, MT5, TradingView
- Founded in 1996 (30 years operating)
- Licences in 6 jurisdictions
Cons
- Inactivity fee: USD10/month after 12 months
- 67.4% of retail clients burn their fingers
- CFDs only, you trade the price, you never own the dish
- No real stock ownership
Key Facts, OANDA
- One of first retail forex brokers, founded 1996, operates in 8 global markets
- Proprietary currency data powering OANDA FXConverter used by thousands of businesses
- No minimum deposit, one of few major regulated brokers with no minimum
Known Limitations
- Does not accept clients from many emerging market countries
- MT4 available but OANDA's proprietary platform has limited advanced charting vs competitors
- Spreads during off-peak hours can widen significantly
Frequently Asked Questions
Is OANDA regulated?
Yes. OANDA is authorised by ASIC, issued to the entity OANDA Australia Pty Ltd, an authorisation you can look up for yourself on the official ASIC public register.
What is the minimum deposit for OANDA in New Zealand?
The cover charge is $0, the smallest amount New Zealand traders need to open a live account with OANDA under ASIC rules.
What leverage does OANDA offer in New Zealand?
In New Zealand, ASIC rules cap OANDA at 1:30 on forex pairs. A larger pour is sometimes available through offshore-regulated entities, with thinner protection to match.
Is OANDA safe to trade with?
The kitchen passes inspection: OANDA cooks under ASIC. A tier-1 regulator insists on segregated client money, negative balance protection and independent audits, while lighter offshore regimes offer weaker cover and often no compensation scheme. That does not make trading risk-free, so check which entity holds your account and what protections actually apply before you deposit.
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