Canadian ReviewsCanadian Reviews
  • What’s On
  • Reviews
  • Digital World
  • Lifestyle
  • Travel
  • Trending
  • Web Stories
Trending Now

A Career Best Performance From Orlando Bloom

OpenAI shuffles executive roles, acquires Statsig for $1.1 billion Canada reviews

Marvel Zombies’ gory new trailer reveals 2 surprising superhero stars

Gordon Ramsay Gives Health Update Amid Cancer Diagnosis (Exclusive)

B.C. public service staff launch picket lines in three cities after strike deadline expires | Canada Voices

Google is having ‘productive discussions’ with Trump lawyers about his deplatforming suit Canada reviews

Alberta Ballet’s new show is like stepping into a storybook fairytale

Facebook X (Twitter) Instagram
  • Privacy
  • Terms
  • Advertise
  • Contact us
Facebook X (Twitter) Instagram Pinterest Vimeo
Canadian ReviewsCanadian Reviews
  • What’s On
  • Reviews
  • Digital World
  • Lifestyle
  • Travel
  • Trending
  • Web Stories
Newsletter
Canadian ReviewsCanadian Reviews
You are at:Home » OANDA Review – Low costs and no deposit requirements
Trending

OANDA Review – Low costs and no deposit requirements

28 April 20244 Mins Read

Top Ten Reviews Verdict

OANDA offers an easy-to-use forex trading platform, and fast and user-friendly account opening. There’s no minimum deposit either, all combining to make it a great option for beginners testing the forex trading waters for the first time.

Pros

+There is no minimum deposit

+No minimum lot size

+Doesn’t charge commissions

Cons

-Not the best app

Why you can trust Top Ten Reviews  Our expert reviewers spend hours testing and comparing products and services so you can choose the best for you. Find out more about how we test.

OANDA is a top forex broker based that provides forex trading services around the globe. As well as ranking among the best forex brokers, OANDA offers trading on commodities, bonds and stock indices, using its own fxTrade platform and companion app. Established in 1997, OANDA has definitely come a long way since its early days of providing free currency exchange information over the internet.

Today’s best OANDA FXTrade deals

OANDA’s platform makes it easy to set up trade and just as simple to set up stop-losses and other advanced orders. The powerful platform tools powered by TradingView provide access to over 65 popular technical indicators, and the option to analyze forex price trends with charts ranging from five seconds and more, all designed to help you plan your forex trading strategies. What you can’t do with this platform is create multiple watchlists, and there are limited options for setting up alerts and ever fewer options for customization.

In addition to the desktop platform, OANDA has a mobile app, through which you can access more than 50 technical tools, including 32 overlay indicators, 11 drawing tools, and nine charts – you can trade through the charts too. Despite these options, app perhaps lacks some of the tools that the best forex trading apps have. For instance, you cannot use charting tools or set up alerts with the OANDA app, and most frustrating of all, you cannot add currency pairs to watchlists through the app; you must add them through the desktop platform.

  • Features: Over 70 currency pairs
  • No commissions
  • Competitive spreads

Through OANDA you can trade more than 70 currency pairs, including the major pairs and minor pairs, as well as exotic currencies, such as the Norwegian Krone, the Turkish Lira and the South African Rand.

OANDA does not charge commissions and stands apart from other forex brokers in that it does not require a minimum deposit and has no minimum trade lot size. You can make trades on as little as one unit of currency. The only cost you incur is from the bid/ask spreads, which is the difference between the buying and selling price. In comparing OANDA’s spreads to other brokers’, we found them to be very competitive and the best of the brokers that don’t charge commission – be aware, however, that spreads fluctuate constantly and can change quickly.

There’s a demo account to practice with, and OANDA provides some webinars and investment articles for traders, but the information is not as extensive as other brokers’ offerings. You can find video tutorials to train you on the platform, but those are located on YouTube and are not easily accessed through the platform.

Should you use OANDA?

OANDA is a forex broker that doesn’t require a minimum deposit and has no minimum lot size, making it a good entry option for novice forex traders. There’s no trading commissions to pay either, with traders paying on the bid/ask spreads instead. While its trading platform is missing some features that the very best forex brokers might offer, OANDA’s low costs and minimal trading requirements make it an attractive option for new investors looking for less risk.

Share. Facebook Twitter Pinterest LinkedIn Reddit WhatsApp Telegram Email

Related Articles

Top Reasons to Hire a Corporate Accountant for Your Business

Trending 21 August 2025

AI Headshot Generator: A Simple Solution for Professional Photos

Trending 27 May 2025

The Future of Care: Harnessing AI and Community to Support Aging and Special Needs Populations

Trending 14 January 2025

How Vacuum Grippers Are Revolutionizing Material Handling Systems

Trending 16 December 2024

Make Your Money Work for You: Explore Savings Opportunities with BCU Financial

Trending 4 June 2024

The Mother May I Story – Chickpea Edition

Trending 18 May 2024
Top Articles

These Ontario employers were just ranked among best in Canada

17 July 2025262 Views

The ocean’s ‘sparkly glow’: Here’s where to witness bioluminescence in B.C. 

14 August 2025217 Views

What Time Are the Tony Awards? How to Watch for Free

8 June 2025155 Views

Getting a taste of Maori culture in New Zealand’s overlooked Auckland | Canada Voices

12 July 2025136 Views
Demo
Don't Miss
Reviews 2 September 2025

Google is having ‘productive discussions’ with Trump lawyers about his deplatforming suit Canada reviews

Critics of Big Tech and President Donald Trump are on high alert as Google and…

Alberta Ballet’s new show is like stepping into a storybook fairytale

Where you can get lost in an Alberta corn maze this fall

Movie Tuesday: ‘Jaws’ Takes a Bite Out of ‘Weapons’ but Still Loses, Best TV Shows to Binge Watch

About Us
About Us

Canadian Reviews is your one-stop website for the latest Canadian trends and things to do, follow us now to get the news that matters to you.

Facebook X (Twitter) Pinterest YouTube WhatsApp
Our Picks

A Career Best Performance From Orlando Bloom

OpenAI shuffles executive roles, acquires Statsig for $1.1 billion Canada reviews

Marvel Zombies’ gory new trailer reveals 2 surprising superhero stars

Most Popular

Why You Should Consider Investing with IC Markets

28 April 202424 Views

OANDA Review – Low costs and no deposit requirements

28 April 2024345 Views

LearnToTrade: A Comprehensive Look at the Controversial Trading School

28 April 202448 Views
© 2025 ThemeSphere. Designed by ThemeSphere.
  • Privacy Policy
  • Terms of use
  • Advertise
  • Contact us

Type above and press Enter to search. Press Esc to cancel.