OANDA - Corporation (US) Reviews 

Have been trying for 2 weeks to talk to.......anyone regarding my rate feed. I wanted to add more services and no responses or calls. Been a customer for 8 years!! Moving to Bloomberg!

Every one of these zero stars reviews are correct in the personal information joke that oanda portrays onto their clients. GOD i wish i could write one single good review about a broker but it seems that not one is competent on the TV broker list, aside of IBKR A+. OANDA can go suck a you know what for wasting my time and trades. The application process is a soul sucking zero empathy zero motivation from oanda process. They needed to change one single tick on my application and didn't after two weeks. Which, only needs to be changed because of oanda's own policy not any other broker. I only found out what was keeping my application dead after contacting customer support for the tenth time and all of a sudden now, there's a reason. So i canceled that application and changed the damn tick myself and here we are going on week two of a completely incompetent broker's application process... going to MT4 cause this list of brokers is heartache and nauseum of incompetent and complete nonsense. OANDA, how about you do something in 6 weeks huh? Or don't, i'll find any other broker better than this experience. You don't care about your clients and we don't care about you.

I have been trading with Oanda for two weeks now. I have experienced many issues with their spreads. When news releases their spreads can sometimes exceed 8 pips which is absolutely ridiculous. I have mostly traded GBP/USD on this account so far. The average spread for me on this pair is 1.8 Pips (still high). Besides getting stopped out on news releases with ridiculous spreads everything with the broker is fine so far. After contacting Oanda regarding the ridiculous news spread fiasco two weeks ago I am yet to receive a reply. If you are planning on being in positions at the time of news releases I suggest widening your stops or taking half your profit prior to release. So far I have missed 130-150 pips of profit due to being stopped out the past two weeks on news despite the news candles moving in my intended direction and seeing no opposite movement. It is discouraging and unnecessary to deal with spreads like this. Two stars for now.

Update my account has now momentarily lost third party access. I can no longer use trading view for the time being. Ridiculous.

Dear Oanda,

I am writing to express my concerns regarding the withdrawal method on your platform. It is the primary reason I am considering whether to continue using your services or explore other options. I believe that addressing this issue is crucial to improve the overall user experience.

Specifically, I suggest implementing the ability for clients to make withdrawals to a different card and also consider offering ACH withdrawals, not just for depositing funds. To ensure security, I recommend requiring a correct password, along with additional measures such as two-factor authentication or a verification code sent to the user's email address, for withdrawals to a different card.

Furthermore, I have encountered difficulties with obtaining a letter from my bank stating that a replaced card's details have changed. It seems that not all banks provide this documentation. Therefore, I would appreciate alternative methods for verifying card replacements.

I firmly believe that implementing ACH withdrawals would not only attract new customers but also generate positive reviews. Overall, I find your platform and app to be of good quality.

Thank you for your attention to this matter. I hope you will consider these suggestions and work towards improving the withdrawal process for your valued clients.

Sincerely,
Christopher

OANDA are a bunch of dishonest sharks. Tell customers what your business principles are BEFORE opening an account. Dont suck people into opening an account, transferring funds to OANDA and then you behave like total sharks by holding the funds ransom until certain conditions are met. This is distrustful and a total sham. Inform customers PRIOR to them opening the account so that the customers can go elsewhere.

I've been a customer from 2013, until recently. Oanda was, in my opinion, one of the Forex brokers that sucked less. And I have been dealing with Pepperstone, FXCM, Forex.com, Dukascopy and many others (of which some don't exist anymore in the same form, like FXDD, or the best one I remember: MBTrading).

This opinion has changed lately, with their policy of increasing fees. I had (among others) a live account for development, using their API, but rarely performing operations (I also saved tick data, so I didn't want a demo account, just in case the data isn't exactly the same).

Much of my disgust with Oanda comes from how they treated this account, and how they dealt with the (recently imposed) inactivity fees. The inactivity fees aren't much for anybody willing to dedicate to develop a decent algorithmic trading system, but it's the principle, and how they mistreat long-term customers just because they go inactive for a little while.

Long story short, I regret spending the many hours I spent implementing the module in my system to connect to their REST API. Their tech is good (for the financial sector, which doesn't have a very high bar) ...their management and customer support is not, and it's turning what were decent products+services into worthless ones.

On top of that, I want to mention that their use of Cloudflare is annoying at best; disrupting some crucial services often and sinking their reliability.

Those spreads, even with COMISSION are DISGUSTING

I signed up with them and funded my account, but they won’t let me trade so I asked for my money back but now they say I didn’t register. So for me it has been a terrible experience and they deserve no stars. People , beware, don’t send them any money!!!!!!!

Last week Oanda Europe(Malta) accounts were transferred to TMS(Poland). Everything went down the drain so fast it isn't funny.

1. you can trade with mt5. I mean, metatrader was bad 20 years ago... Glad I get to use it in 2023(not).

2. "you can trade s&p CFD". No, you can't. For some reason, TMS quote for s&p is the near month future. Like... ok; nice one =)))

3. "you can trade oil". On tradingview, you get the brent for oanda under bcousd. On TMS... it's not the same price. Seriously =))
Bottom on bcousd? 70.18. Bottom on tms? 71.04. Fine, I adjust for 15 pips downwards.
Current quote on Oanda? 75.01. Current quote on TMS? 74.58. "Only" 42 pips difference.

It's the Schrodinger oil; with some made up price. "Based on ICE Future" says their site; which month? Your guess is as good as mine.

"Extra bonus" - instead of 2h closed market at midnight, you get 3h closed market. Because why would you be able to take advantages of the opportunities at the open?

also, for small accounts - previous minimum size was 1 barrel; now it's increments of 10. Which are actually quoted as 0.01 on metatrader. Fair in a way, as 10 is 0.01 of a standard 1k contract.

Too bad trying to use metatrader input boxes with those figures leads to tons of mistypes. Because, hey, metatrader in 2023...

4. "Nat gas" TMS special spread? "Only" ~1% =)))

pity; was an ok broker. Won't sit around to see the rest of the movie.

I signed up with OANDA after a horrible experience with my prior broker. The experience has been day and night. As a Forex broker, OANDA gives great accessibility to FX markets, even for smaller traders like me thanks to their allowance of Nano-Lots and no inactivity fees (at least until there's a year of no activity), all of which just makes the trading experience so much more accessible for those who aren't rich.

But what really surprised me was their quality of customer service, especially being that OANDA is a much larger broker than my last one. Yet OANDA's customer support has always been incredibly helpful, any problem I've had has more often than not been resolved, and I'm even asked afterwards to rate the quality of service.

I would absolutely recommend OANDA as a broker to anyone considering taking up FX trading, and I intend to continue trading with OANDA for as long as I trade.

I haven't ever had any issues. Been trading with them for 3 years and change. I've have been profitable, and I have blown accounts. 98% of orders are filled and TP's are filled. 100% stoplosses filled! LOOOL! Name of the game though! RISK MANAGEMENT! Doesn't matter broker. With out SOUND RISK MANAGEMENT!! You won't become profitable!!! Support has always helped, or fixed an issue. Withdrawal and deposit always smooth. No worries. Will be here a while! I'm still using now.

There's not even a Phone number to call when in need for support, Now there's only virtual help available, Mt4 trading account is frequently messing up, if I am able to contact someone for tech support they don't seem to understand the issue themselves. been trying to add funds to my existing account haven't been able to do that for past couple of weeks even with oanda support.
Thank you for reading
Santokh Sangha

My stop loss has gotten hit one too many times when it was not supposed to and the rest of my team is hitting take profits 3 minutes later!!!! looking for another MT4 compatible broker with tighter spreads that takes USA customers. It’s outrageous.

Was harrassed while I made deposits. I did not like that experience. Late credit plus wanting all sorts of corfirmations and bank statements even after getting the money and not crediting my account. This has to change.

My limited number and amount of trading has experienced no glitch whatsoever!

For a novice Forex investor, this is very satisfying.

Phone app is crashing often, Samsung S21-FE. I get logged out everytime my connection changes. Great features, fast trade execution.

Been with Oanda over 10 yrs and have found them to be a company of high integrity and excellent customer service

I dislike the spreads on forex pairs. The best I've able to expect are 1.4 pips (AUDUSD, EURUSD) Other USD pairs hover near 2.0 pip spreads. What size ($) account would I need to maintain to get spreads below 1.0 pip? Is this possible for me to obtain?