OANDA Review 2026
Rare CFTC-regulated option for US and global traders.
One of the few brokers regulated in the US by the CFTC. No minimum deposit. Spread of 1.2 pips is wider than ECN brokers but the US regulation is rare.
What's on the menu
OANDA has been serving since 1996, with the kitchen based in New York, USA. The firm is privately held. The order book runs deep: 300 CFD instruments spanning forex, indices, commodities and crypto. Everything here is a contract for difference, so you are trading the price move, not owning the underlying dish.
MetaTrader comes plated on every account type. There is no copy-trading option here.
| Founded | 1996 |
| Headquarters | New York, USA |
| Instruments | 300+ |
| Platforms | OANDA Trade, MT4, MT5, TradingView |
| MetaTrader | Yes, MT4 and MT5 |
| Copy trading | No |
| Real stocks | No, CFDs only |
Kitchen inspection: is OANDA safe?
FCA-regulated brokers must keep client funds in accounts segregated from company funds, provide negative balance protection, and contribute to the Financial Services Compensation Scheme (FSCS), which covers up to £85,000 per client if the broker becomes insolvent.
| Regulator | Licence | Entity |
|---|---|---|
| CFTC | 0325821 ✓ | OANDA Corporation |
| FCA | 542574 ✓ | OANDA Europe Ltd |
| ASIC | 412981 ✓ | OANDA Australia Pty Ltd |
| IIROC | Registered ✓ | OANDA (Canada) Corp |
| MAS | 200704926K ✓ | OANDA Asia Pacific Pte Ltd |
| JFSA | 関東財務局長(金商)第2137号 ✓ | OANDA Japan Inc |
Want to inspect the kitchen yourself? Pull up register.fca.org.uk and look up the FCA licence. The listing lays out the entity name, its authorisation status and the full list of what it is cleared to do. A minute, tops.
Ready to open an account?
OANDA - FCA regulated, min deposit None, 300+ instruments.
Ingredient costs: OANDA spreads
Here is what the raw ingredients cost on a standard OANDA account. Spreads breathe with the market and with your account tier; step up to an ECN or raw-spread table and the spread shrinks, but a per-trade commission joins the bill.
| EUR/USD | 1.2 pips |
| GBP/USD | 1.5 pips |
| USD/JPY | 1.1 pips |
| Gold (XAU/USD) | 40c/oz |
| S&P 500 | 1.0pt |
That EUR/USD figure of 1.2 pips is a fair price to pay on a commission-free account.
The bill: OANDA withdrawal fee and timing
Cost to take money out: None in most regions. OANDA may apply fees for international wire transfers in some cases.
How long it takes: 1 to 5 business days. OANDA processing time is standard. Bank wires take longer than card withdrawals.
No cash leaves the till until your identity checks out. If your proof of ID and address are not yet filed and cleared, the payout waits; once you are fully verified, cash-outs follow the timings shown above.
The cover charge by entity
The opening deposit at OANDA depends on which entity seats your country. Offshore branches tend to set a smaller cover charge, but you dine with a thinner layer of regulatory protection.
| Entity | Regulator | Min deposit | Max leverage (forex) |
|---|---|---|---|
| OANDA Corporation | CFTC 0325821 | None | 1:50 |
| OANDA Europe Ltd | FCA 542574 | None | 1:30 |
| OANDA Australia Pty Ltd | ASIC 412981 | None | 1:30 |
| OANDA (Canada) Corp | IIROC Registered | None | 1:30 |
| OANDA Asia Pacific Pte Ltd | MAS 200704926K | None | 1:20 |
| OANDA Japan Inc | JFSA 関東財務局長(金商)第2137号 | None | 1:25 |
OANDA vs IG Group
| OANDA | IG Group | |
|---|---|---|
| Primary regulator | FCA 542574 | FCA 195355 |
| Min deposit | None | None |
| EUR/USD spread | 1.2 pips | 0.6 pips |
| MetaTrader | Yes | Yes |
| Instruments | 300+ | 17,000+ |
| Copy trading | No | No |
| Withdrawal fee | None in most regions | None |
Both kitchens hold real licences, so neither is a bad table. Pull up a chair at OANDA if you value MetaTrader and running algorithms. IG Group plates up better for anyone who leans on leaner spreads.
The licences, line by line
| CFTC | 0325821, OANDA Corporation |
| FCA | 542574, OANDA Europe Ltd |
| ASIC | 412981, OANDA Australia Pty Ltd |
| IIROC | Registered, OANDA (Canada) Corp |
| MAS | 200704926K, OANDA Asia Pacific Pte Ltd |
| JFSA | 関東財務局長(金商)第2137号, OANDA Japan Inc |
Under ESMA house rules, retail traders in the EU and UK are served leverage no higher than 1:50 on the major forex pairs.
What tastes good, what leaves a bad aftertaste
Cooked well
- CFTC regulated (accepts US clients)
- FCA regulated
- No minimum deposit
- MT4 and MT5
- TradingView integration
- Strong API for developers
Sent back
- EUR/USD spread 1.2 pips, widest reviewed
- Only 300 instruments
- No copy trading
- $10/month inactivity after 12 months
Compare OANDA before you commit
4.1/5 rating - FCA regulated - min deposit None
The verdict
Nothing on the plate here is fake: OANDA is a genuine, regulated broker, and FCA licence 542574 checks out on the public register. The table is set best for traders who want MetaTrader served on a regulated platform. We rate it 4.1 out of 5.
Other tables worth a look
If OANDA is not quite to your taste, these regulated kitchens are worth comparing:
Frequently asked questions
Is OANDA safe?
FCA-regulated brokers must keep client funds in accounts segregated from company funds, provide negative balance protection, and contribute to the Financial Services Compensation Scheme (FSCS), which covers up to £85,000 per client if the broker becomes insolvent. The kitchen holds FCA licence 542574, and you can confirm it for yourself on the official register.
What is the OANDA minimum deposit?
The cover charge is None at the main regulated entity. Offshore branches may plate it differently, so check the entity table above for the full spread.
What is the OANDA EUR/USD spread?
On a standard OANDA account the EUR/USD ingredient runs about 1.2 pips. It moves with the market; an ECN or raw table trims the spread in exchange for a per-trade commission.
How long does OANDA take to process withdrawals?
1 to 5 business days. OANDA processing time is standard. Bank wires take longer than card withdrawals.
Does OANDA charge withdrawal fees?
None in most regions. OANDA may apply fees for international wire transfers in some cases.
Does OANDA have MetaTrader?
Yes. Both MT4 and MT5 are on the menu across every account type, so automated strategies, custom indicators and expert advisors are all on the table.