Access currency exchange rates back to January, Type currency names, 3-letter ISO currency symbols, or country names to select your currency. Convert world currencies, precious metals, or obsolete currencies, which are marked with an asterisk (*). Forex Market Hours See world forex trading hours and status. OANDA Corporation is a registered Futures Commission Merchant and Retail Foreign Exchange Dealer with the Commodity Futures Trading Commission and is a member of the National Futures Association. No:
Spreads for indices are even lower, starting from as low as 0. Traders are cautioned that during times of high volatility, the spreads tend to widened.
The customer service representative can contacted by means of live chat, email fax or telephone. To maintain the integrity and reliability of their operations, OANDA ensure that it meets all the required regulatory requirements for an online forex broker. With features such as real time pricing, automated trading capability and no minimum deposit requirement and trade sizes, it is easy to see why OANDA is popular among many traders.
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All prices herein are provided by market makers and not by exchanges. Despite slow customer service responses we found OANDA's representatives to be courteous and knowledgeable. The support website also has a good knowledge base and searchable archive that should answer most questions about the trading platforms and order types. But this experience is likely to be inadequate for both very inexperienced and very inexperienced investors.
We found the educational resources to be extensive, but they weren't organized and could be difficult to find in a rush. OANDA ticks all the boxes here as they offer economic analysis, real-time news feeds, calendars, and advanced data analytics.
It's a very robust offering, but if we had one gripe it was that things are scattered across OANDA's website and trading platforms. The amount and quality of the resources are above average but investors should expect a learning curve as they try to find everything. OANDA provides a very wide range of analytics, research and tools. We found the insights into the behavior of other traders through the Order Book and COT reports particularly interesting.
Economic analysis and calendars are comprehensive and include historical trend graphs. For more experienced traders, the pattern matching engines and volatility analysis will be particularly helpful. Trading is no longer a solitary task and more and more traders have come to rely on the opinions and insights of other traders. The research and analysis features are comprehensive. But as we've mentioned previously, things tend to be very scattered across OANDA's website and platforms.
This can make things difficult to find. A series of educational videos and articles is available for new and experienced investors alike. Minor annoyances include the fact that the images and videos use inconsistent platforms, and some information is out of date compared to current trading platform releases. Not all the education is in a single place and navigation can be difficult. New investors will need some patience as they try to navigate their way through the introductory education.
While we found some of the education for beginners very good, it was poorly organized. Creating a plan and tracking your progress will also be difficult. We couldn't figure out what education we completed and what we should complete next. The good news here is that if you can find your way through the education landscape, what they offer is very good. The OANDA classroom, which is focused mainly on live market analysis, also includes a lot of basic platform navigation and analysis that should help fill the educational gaps.
Much of the advanced content was focused on how to use individual tools rather than investing skills. When compared to the rest of the industry OANDA has a very long history and some solid regulatory oversight that should give investors comfort, despite our middle-of-the-road trust rating. OANDA's primary advantages are cost, transparency, breadth of product offerings, advanced tools, and their trading platforms.
It would be very difficult to find a dealer that offers more competitive trading spreads than OANDA -- even across many different trading instruments. Traders who meet certain account balance requirements can further lower their costs by trading a flat commission plus raw-spread structure. While helpful when we could reach them we found that customer service was slow.
Telephone and chat support were often not as available as we would expect. John has a B. John is the coauthor of three books published by McGraw Hill on investing and portfolio management. As a co-founder of Learning Markets, LLC, John has developed financial education used by thousands of brokerage clients to become better investors.
His firm also develops professional-grade stock screening and analytical tools for individual investors. John earned his bachelor's degree in accounting and business management at Utah Valley University. Investing is only one tool they use to achieve truly great things in their life. I am passionate about helping investors because their success means more than just a larger account balance.
Investopedia helps you understand complex financial concepts, learn and improve your investing skills, and learn how to manage your money. Accounts can be opened with as little as one dollar; no minimum trade size makes it easy to trade and test strategies. Investors can trade with a traditional broker-spread or the typically less expensive raw-spread plus commission model. Traders outside the U. Traders cannot access cryptocurrency or single-stock CFD trading.
Hold times were unusually long. Plenty of education available, including webinars; but the offering was fragmented and disorganized. Some of OANDA's research and news resources are only available by launching external web pages or applications.
Accounts do not have a negative-balance or slippage protection. This could be a problem in a volatile market. Spreads were taken from Oanda's website and are live rates. They can vary based on volatility. Up to EUR 50, What you need to know OANDA's analysis tools allow traders to test their strategies using common coding languages, visualize market data like the COT report and analyze the effect of economic news directly on charts.
Pros We like the standard navigation in the FXtrade platform. Cons In a few places, things in FXTrade could feel disjointed. Pros As with the desktop application, we like that the standard navigation and easy to use menus created an uncomplicated experience. Cons At the time of this writing we were disappointed that that a browser option wasn't available and that fingerprint security was an option only available for iPhone users. What you need to know Despite slow customer service responses we found OANDA's representatives to be courteous and knowledgeable.
Charts include advanced studies, display types, and customizable timeframes. Autochartist can identify and analyze emerging technical or candlestick patterns.
Announcement reporting, analysis, and calendars available through MarketPulse. COT charts covering the U. Cons Trading is no longer a solitary task and more and more traders have come to rely on the opinions and insights of other traders. Learn Where to Start. Documentation and articles available for backtesting and advanced analysis.
What you need to know New investors will need some patience as they try to navigate their way through the introductory education. About Our Broker Review Methodology. Investopedia's mission is to provide online investors with the most unbiased, comprehensive reviews and ratings of self-directed brokers.
Every review goes through a rigorous verification process to maintain editorial separation and ensure an unbiased ratings result. When the online trading platform FXTrade was launched in , it was the first fully automated forex trading platform.
Spreads were taken from Oanda's website and are live rates.