|Broker Rating||#15 (76%)|
|Founded and online since||1995 - 1997|
|Min. Account Size||1 USD|
|Min. Position Size||0.00001|
|Regulated by||CFTC/NFA, 0325821 FCA (UK), 54257 FSA (Japan), 1571 Kanto Local Finance Bureau (Japan), 2137|
|Platforms||MetaTrader 4, Oanda Platform, Web Trading|
|Account currencies||Australian dollar, Canadian dollar, Euro, Great Britain pound, Hong Kong dollar, Japanese yen, Singapore dollar, Swiss franc, United States dollar|
|Support available in|
|VPS for traders||N/A|
OANDA Corporation is a financial services provider of currency conversion, online retail foreign exchange (forex) trading, online foreign currency transfers, and forex information. It is one of the non-bank Futures Commission Merchants (FCMs) specialized in spot forex trading. OANDA is a registered FCM with the Commodity Futures Trading Commission (CFTC) and a member of the National Futures Association (NFA).
OANDA is an outgrowth of the Swiss Olsen Group and was created to serve as an internet trading platform to automate techniques based on the group’s 20 years’ worth of research in foreign exchange trading. Much of OANDA’s technology is based on algorithms published in the book High Frequency Finance, which was co-authored by Dr. Richard Olsen, a principal of OANDA and co-inventor of these algorithms.
OANDA Corporation was incorporated in 1996 in the state of Delaware, and initially provided online access to live currency information that was previously inaccessible to the public at large. At its inception, OANDA.com offered free currency conversion tools, tables of historical data, news, and analysis through a multilingual interface.
In 2001, launched fxTrade, an online forex trading system.
In 2008, launched fxGlobalTransfer, an automated online foreign currency transfer service designed to send funds globally. The same year, OANDA launched fxPedia, an online wiki of forex information and commentary, and fxConsulting, a consulting service for corporate hedging.
In 2011, added the MetaTrader 4 (MT4) platform to meet the demands of clients who use automated trading strategies.
In December of 2012, OANDA discontinued fxGlobalTransfer for third parties. Later in the month, OANDA launched MT4 mobile applications for iPhone and Android smartphones and tablets.
Ownership and regulatory information on OANDA are available from its NFA listing.
In September of 2013 acquired one of the popular social trading networks Currensee.
The site has an electronic trading platform (fxTrade), currency conversion tools, a foreign exchange wire service (fxGlobalTransfer), a corporate hedging consulting service (FXConsulting), discussion forums, tables of historical currency data, as well as forex news and analysis. OANDA provides many Foreign Exchange services besides fxTrade, their forex trading platform. They provide conversion tools and currency charts for businesses to integrate into their sites and indexes and information for travelers.
Mathematician Benoît Mandelbrot singles out OANDA’s fxTrade technology as one example of how the foreign exchange market works when small investors and big investors are set on an equal footing, having removed the unfair commission structure.
The forex market, despite its vast size, can be vulnerable to periods of illiquidity. These periods pose a risk to an interconnected globalized economy that is increasingly dependent on foreign currency exchange for currency disintermediation and micro-hedging, along with everyday B2B and B2C cross-border transactions.