Oanda

I have been with FXCM and they are decent but Oanda has better spreads during non-news times. I like the trade management features in their interface. I use Metatrader for charting but I like how trade entry and exit graphics remain on the Oanda charts – better trade history research. Many complain about the spreads during news events – Oanda does not hide this – they let you know they will do that. They don’t want news scalpers, just like other REAL brokerages. I have not had a bad experience for the last 4 years.

I gave Oanda 2 stars before but now just 1 star, slippage and delayed executions were the major issues with them; on fast moving market you could lose up to 35 pips, some of my trades were clearly taken far ahead of the market even though price didn’t get there until 5 seconds later. The worst broker I’d ever trade with.

Great broker for carry traders. They pay interest on your unused balance and they provide some of the best swap rates for currency pairs. Definitely not a good news trading broker as their spreads change during low and extreme volumes.

I really regret the day I opened an account with them. I’m trying to day trade on Oanda, and I’m getting hit all the time. The spreads are too big for me.

No trailing stop and lousy fills during news.

Huge spreads just before major news. Bad broker for day trading.

I’ve been with Oanda for 6 months. Good overall service. I believe the problems during news are the same on every brokers.

Good execution and spreads. The platform could be better.

Oanda is one of the most reputable Forex brokers and this was why I decided to open an account with them. I had no problems for 4 months but, lately, the slippage has been more common than it used to be. In my opinion, they still are a decent and honest broker but they can make much better than this.

Oanda has a nice platform and fees. The bad thing about them is the slippage (especially on stop orders). It’s possible to make money with Oanda specially if you don’t insert the stop orders on the platform.

It could be three stars if the increase in spread during news was not present and before news with minutes. I traded with them aiming for 1% daily but guess what… I don’t think you can trade with Oanda. Their spread is very bad. I use MB Trading now; they are good at news trading and forex is news trading. Swing trades are difficult to predict so giving a chance to trade news is the most important in the forex field.

My favorite broker. Great fills and small spreads.

I’m using Oanda for 6 months and I don’t have anything bad to say about them.

It’s one of the biggest brokers on the market. So, at least I can sleep at night knowing that my money is safe with them. The platform is good. The spreads are good as well except during news. But as far as I know, there’s no broker out there where we can trade the news easily.

Slippages and widen spreads during high volatility periods. Besides this, I love them.

Their charts are really bad. The platform could be better as well. On the positive side, there are no restrictions for opening an account and the lot size is flexible.

Decent spreads and they respect limit orders. They also have an excellent news service. The trading platform could be better.

In my opinion, Oanda is a good broker but during news releases they are terrible. If I could divide my rating between “news releases” and the rest of the time, I would give them 1 star on “news releases” and 5 on the rest of the time.

Good broker with a good support team.

Good broker but the spreads are too big.

Great broker for full time traders. They have everything I need. I used others well known brokers and no one gave me the same quality I receive in Oanda.