OANDA Review 2026: multi-regulated forex broker since 1996, FCA/ASIC/NFA
OANDA is a historic forex broker founded in 1996 in New York, regulated by the FCA (UK), ASIC (Australia), NFA/CFTC (USA) and several other authorities. With 30 years of continuous operations, it is one of the oldest forex brokers still active. It offers fxTrade, MT4, MT5 and TradingView platforms, 120+ instruments, transparent fractional pip pricing and no minimum deposit on the Standard account.
What is OANDA?
OANDA is a forex and CFD broker founded in 1996 in New York, United States. With 30 years of continuous operations, it is one of the oldest and most established brokers in the industry. The broker is regulated by seven financial authorities worldwide: the FCA (UK), ASIC (Australia), NFA/CFTC (USA), MAS (Singapore), CIRO (Canada), FFAJ (Japan) and BVI FSC.
OANDA stands out for its transparency. The broker publishes monthly execution statistics (slippage, fill rates), a rare practice in the industry. Fractional pip pricing provides increased precision on quotes, and position sizes are fully flexible, starting from just 1 unit.
In 2025, FTMO acquired OANDA. The OANDA Prop Trader program was transitioned to FTMO Group in March 2026. However, OANDA continues to operate as an independent retail broker with all its licenses and regulations.
The broker offers four trading platforms: fxTrade (proprietary), MetaTrader 4, MetaTrader 5 and TradingView. A developer API is also available for algorithmic traders.
Trading conditions in detail
| Parameter | Details |
|---|---|
| Regulation | FCA, ASIC, NFA/CFTC, MAS, CIRO, FFAJ, BVI FSC |
| Headquarters | New York, USA (founded 1996) |
| Platforms | fxTrade, MT4, MT5, TradingView |
| Maximum leverage | 1:200 (non EU/UK), 1:30 (EU/UK), 1:50 (USA) |
| Available instruments | 120+ |
| Minimum deposit | $0 (Standard), $10,000 (Premium) |
| Standard spreads | From 1.0 pip, no commission |
| Core/Premium spreads | From 0.1 pips, $5 per $100K commission |
| Deposit/withdrawal fees | None |
| Min position size | 1 unit (flexible position sizing) |
| Negative balance protection | Yes |
| Developer API | Available |
Available instruments
Pros and cons
- Multi-jurisdiction regulation (FCA, ASIC, NFA/CFTC, MAS, CIRO, FFAJ)
- 30 years of operations, one of the oldest forex brokers worldwide
- Accepts US clients (NFA regulated)
- No minimum deposit on the Standard account
- Four platforms: fxTrade, MT4, MT5, TradingView
- Transparency: monthly publication of execution statistics
- Fractional pip pricing and flexible position sizing (from 1 unit)
- Developer API for algorithmic trading
- No deposit, withdrawal or inactivity fees (most accounts)
- Limited instrument range (120+) compared to other brokers
- Reduced leverage under EU/UK regulation (1:30) and US (1:50)
- Premium account requires $10,000 deposit for raw spreads
- Standard spreads (1.0 pip+) higher than some ECN competitors
Our scores by criteria
OANDA vs the competition
| Criteria | OANDA | RaiseFX | IC Markets |
|---|---|---|---|
| Regulation | FCA, ASIC, NFA ✓ | FSCA (no. 50506) | ASIC, CySEC, FSA |
| Max leverage | 1:200 | 1:500 | 1:500 |
| Instruments | 120+ | 500+ | 2,200+ |
| Platforms | fxTrade/MT4/MT5/TradingView | MT5 | MT4/MT5/cTrader |
| Minimum deposit | $0 | Variable | $200 |
| US clients | Accepted (NFA) | No | No |
Who is OANDA for?
OANDA caters to several distinct trader profiles.
The beginner looking for a reliable broker to get started. With a $0 minimum deposit, flexible position sizes from 1 unit and the intuitive fxTrade platform, OANDA provides an accessible and secure environment. Multi-jurisdiction regulation ensures a high level of fund protection.
The algorithmic trader or developer who wants to automate strategies. OANDA's developer API is known for its comprehensive documentation and reliability. Compatibility with MT4, MT5 and TradingView provides rare flexibility in tool selection.
The US-based trader who needs an NFA/CFTC regulated broker. OANDA is part of a small circle of major forex brokers that still accept American clients, making it an essential option for this market.
Final verdict
A historic, heavily regulated broker ideal for trust and transparency
OANDA is a top choice for traders who prioritize safety, regulation and transparency. With 30 years of operations, regulation across seven jurisdictions and published execution statistics, it is a proven, trustworthy broker. The choice of four platforms and no minimum deposit strengthen its accessibility. Leverage and instrument range are more limited than offshore brokers, which positions it more for traders who value reliability over aggressive conditions.
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This review is based on real testing by our analyst team, official website consultation, terms and conditions analysis, regulatory status verification with relevant authorities, and user reviews from Trustpilot and specialized forums. Our complete methodology is detailed on our methodology page. Last verified: May 2026.