OANDA review

Updated September 28, 2026 · BrokerCue Editorial Team · Facts checked September 26, 2026

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Our verdict

OANDA fits traders who want to open an account without a minimum deposit and sit under regulators on both sides of the Atlantic. Its overall score is 8.4 with a cost score of 8.4, though the retail loss rate of 72% is a reminder that most balances do not survive the trading.

Key facts

Best for
Opening an account with no minimum deposit, regulation in Britain and the US, and support by email and phone.
Minimum deposit
$0 (Source, checked September 26, 2026)
Markets
Stocks, ETFs, Forex, CFDs, Crypto, Bonds (Source, checked September 26, 2026)
Regulators
FCA, CFTC (Source, checked September 26, 2026)
Investor protection
FSCS up to GBP 85,000 (Source, checked September 26, 2026)
Retail accounts that lose money
72% (Source, checked September 26, 2026)
Maximum retail leverage
1:30 (Source, checked September 26, 2026)
Legal entity
OANDA TMS Brokers S.A. (Source, checked September 26, 2026)
Headquarters
United States (Source, checked September 26, 2026)
Founded
1996 (Source, checked September 26, 2026)
Support channels
Email, Phone (Source, checked September 26, 2026)
Features
Demo account, Mobile app
Official website
oanda.com

Prop firms

Regulators
FCA, CFTC (Source, checked September 26, 2026)
Legal entity
OANDA TMS Brokers S.A. (Source, checked September 26, 2026)
Headquarters
United States (Source, checked September 26, 2026)
Founded
1996 (Source, checked September 26, 2026)
Support channels
Email, Phone (Source, checked September 26, 2026)

Apps and profiles

Get the app
App Store
Elsewhere
WikidataX

Pros and cons

Pros

  • No minimum deposit: $0 means the account opens without putting money in first, and OANDA sits at the top of our minimum deposit ranking, ahead of Vantage and its $5.
  • Regulated in Britain and the US: FCA and CFTC covers an FCA licence 542574 and a CFTC registration 0325821.
  • UK balances sit under protection of FSCS up to GBP 85,000, which pays compensation if the firm cannot return the money.
  • Wider than CFI on the fixed income side: OANDA covers stocks, etfs and forex while CFI lists stocks, etfs and forex.
  • A demo account and a mobile app appear in demo account and mobile app, so the platform can be tried before any funding.

Cons

  • Support runs on email and phone only, which leaves anyone wanting a live chat desk looking at other brokers.
  • A retail loss rate of 72% is no better than the site figure of 70.15%, so the risk sits at the sector norm.
  • Retail leverage of 1:30 magnifies losses as quickly as gains, and a $0 entry point makes it easy to size positions too large.
  • No futures in stocks, etfs and forex, where eToro's stocks, etfs and forex adds them.
OANDA

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Scored 9.5 / 10 by BrokerCue.

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Who it suits

  • Traders who want to open an account and start small: the minimum deposit of $0 removes the barrier to funding later.
  • Anyone who checks regulators before depositing, since FCA and CFTC and protection of FSCS up to GBP 85,000 are both on record.
  • Forex traders who also want shares, ETFs, CFDs, crypto and bonds under one roof: stocks, etfs and forex.

Who should look elsewhere

  • Futures traders, who get a longer list at eToro, where stocks, etfs and forex adds futures to the stocks, etfs and forex on offer here.
  • Traders who want nothing beyond shares, ETFs, forex, CFDs and crypto, since CFI's stocks, etfs and forex covers that core without the bonds.

Who regulates it

OANDA is regulated on both sides of the Atlantic, and its licence details are easy to pin down. In Britain the FCA licence number is 542574; in the US the CFTC registration is 0325821. A broker answering to supervisors in Britain and the US is a smaller group than most of the names on this list, and it matters for anyone who treats regulation as a first filter rather than a footnote. Read the number that sits against your own country before you deposit, because that is the supervisor whose rules your account falls under.

How your money is protected

Protection here runs to FSCS up to GBP 85,000, the compensation that UK clients can claim if the firm cannot return what it owes. The scheme sits behind the GB side of FCA and CFTC, and the FCA licence 542574 is the one that carries it. US business is registered with the CFTC under 0325821 and sits outside that cover, so the entity named in your contract decides which protection you hold. For readers who weigh the safety of the money above the fee, that split is the point to check rather than the brand name.

The company behind it

The regulated entity is OANDA TMS Brokers S.A., and the group is headquartered in the United States. It has been trading since 1996, which places it among the longer established brokers on this list. Support runs on email and phone, so email and phone are the listed ways in rather than a live chat desk. Those accounts are offered under the same two registrations, 542574 in Britain and 0325821 in the US, so the company behind the platform is the company that carries the supervision.

How OANDA compares

Where OANDA is available

Licence in United Kingdom
FCA (542574), checked September 26, 2026
Licence in United States
CFTC (0325821), checked September 26, 2026

Frequently asked questions

What is the minimum deposit for an OANDA account?+

OANDA lists a minimum deposit of $0, so you can open an account without funding it and add money later. On our minimum deposit ranking that places OANDA at position 1 of 213 brands, well clear of the field. Vantage, by contrast, asks for $5 before trading starts.

How is my money protected if something goes wrong?+

UK clients sit under investor protection of FSCS up to GBP 85,000, the compensation paid if the firm cannot return the balance. The regulator behind that cover is named in FCA and CFTC, and the FCA licence number is 542574. US clients fall under the CFTC registration, 0325821, which is a separate arrangement.

Who regulates OANDA?+

OANDA is regulated in Britain by the FCA, licence number 542574, and in the US by the CFTC, registration 0325821. Both sit in the same supervisory list, FCA and CFTC. Having supervisors on each side of the Atlantic is the detail that separates this broker from most of the names in the comparison.

Which markets can I trade on OANDA?+

The platform covers stocks, etfs and forex, so forex, CFDs, crypto, bonds, shares and ETFs all sit in one account. That runs wider than CFI, whose list of stocks, etfs and forex leaves out bonds, and matches eToro's stocks, etfs and forex apart from futures. Holding currency and fixed income side by side is the clearest use of that spread.

Can I try the platform before I fund it?+

demo account and mobile app lists both a demo account and a mobile app. A demo lets you run the platform and learn the order ticket without putting capital at risk, and the app is the main way most clients manage the account day to day. Treat demo results as practice, since 72% of retail accounts lose money on live money.

How do I contact OANDA support?+

Support runs on email and phone, so email and phone are the listed routes in. A live chat desk is not among the channels, which matters for anyone who wants an instant answer on a funding query. Email suits paperwork, while the phone line is the one to use when an account is locked and time matters.

Who owns OANDA and how long has it run?+

The regulated entity is OANDA TMS Brokers S.A., and the group is headquartered in the United States. It has been trading since 1996, which puts it among the longer established brokers here. The same firm appears in FCA and CFTC under both regulators, so the licence numbers matter more than the brand when you check who holds your money.

Do most OANDA retail accounts lose money?+

The retail loss rate stands at 72%, close to the site figure of 70.15% across the brokers tracked. That is the sector norm rather than a mark against this firm, and it is the reason the demo account in demo account and mobile app matters before real funds go in. Leverage of 1:30 makes that risk faster.

Sources

Compiled from 6 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Stock trade fee, Account fee, Inactivity fee.

OANDA

OANDA

Opening an account with no minimum deposit, regulation in Britain and the US, and support by email and phone.

9.5/10See alternatives

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