OANDA Review 2026
OANDA is a 1996-founded FX specialist with a US CFTC/NFA retail business plus FCA and ASIC entities, known for fractional pricing and API access. FTMO completed its acquisition of OANDA from CVC on 1 December 2025; OANDA operates as a standalone business.
- 84 / 100
- Compliant
- United States
- ASIC
- CFTC/NFA
- FCA
- Min. Deposit
- $0
- Max. leverage
- 1:50 US majors / 1:30 UK-AU retail
- Spread From
- 0.0 pip (Core); 1.4 pip spread-only (US)
- Commission
- $0 spread-only; Core ~$7/side per 100k
- Trading platforms
- OANDA web and mobile platform, TradingView, MT4 and MT5 in selected regions, and public APIs where offered.
Key features
- US retail FX via OANDA Corporation (NFA 0325821)
- OANDA Europe Limited FCA 542574
- OANDA Australia Pty Ltd AFSL 412981
- API-oriented FX workflows in supported regions
Regional coverage
One of the few remaining US-regulated retail FX routes. UK and Australian residents should confirm the local company in the agreement. The group also runs OANDA (Canada) Corporation ULC (CIRO), OANDA Asia Pacific (MAS), OANDA Japan, OANDA TMS Brokers S.A. (Poland, for EU clients) and OANDA Global Markets Ltd (BVI).
Investor protection
US retail FX sits under CFTC/NFA rules. UK clients of OANDA Europe Limited may access FSCS where eligible. ASIC entity follows Australian retail CFD conduct rules.
Licenses and Legal Entities
Match the legal entity and license number below against the account agreement before you deposit.
Trading conditions
- Min. Deposit
- $0
- Spread From
- 0.0 pip (Core); 1.4 pip spread-only (US) Raw
- Commission
- $0 spread-only; Core ~$7/side per 100k
- Max. leverage
- 1:50 US majors / 1:30 UK-AU retail
- Islamic
- Yes
- Trading platforms
- OANDA web and mobile platform, TradingView, MT4 and MT5 in selected regions, and public APIs where offered.
Spreads shown are minimum values from the lowest-spread account type. Actual spreads vary by account, instrument, and market conditions. Islamic (swap-free) account availability may depend on your region and entity. Always verify directly with the broker.
8-pillar score
Weighted /100
Pros
- Holds at least one tier-1 licence (FCA, ASIC, CySEC, DFSA, CFTC/NFA or FMA).
- Multiple legal entities are documented, so you can match the company in the client agreement.
- Advertises raw / 0.0-pip pricing on at least one account path.
- Published minimum deposit is $0, which is usable for a small live test.
- Islamic / swap-free accounts are published as available in supported regions.
Cons
- Swap-free status is region-dependent, not a global default.
- Retail leverage is capped near 1:30 on the UK/EU/AU-style entities listed here.
How do I choose a licensed forex broker?
Choose the entity licensed where you live — FCA (UK), CySEC (EU), ASIC (Australia) or DFSA (Dubai/Gulf) — and match its license number to the client agreement before you deposit.
Detailed explanation
A brand is not a license. Compensation, leverage caps and complaints follow the company that opens the account. CySEC covers the EEA (Cyprus ICF). FCA sits under UK rules and the FSCS. ASIC serves Australian retail clients. DFSA serves the DIFC. Offshore entities such as FSA Seychelles or FSC Belize sit outside those schemes.
Example
A UK account under an FCA-authorised company can use the Financial Ombudsman and, if the firm fails, the FSCS (up to £85,000). The same brand’s Seychelles entity would not.
Common mistake
Treating a CySEC, FCA or ASIC logo on a landing page as proof that your account is covered. Many groups onboard international clients through an offshore company. If the agreement names that company, the EU, UK or Australian compensation scheme does not apply.
Professional tip
Search the official register by license number, not only by brand. Confirm the status is authorised or active, that forex or CFDs are listed, and that the legal name matches the agreement before the first deposit.