About Oanda FXTrade

Oanda is one of the more popular brokers in the market today. They claim that they are “Redefinig Forex Trade”, and that their forex trading practices are much more ethical yet productive. A noteworthy characteristic of Oanda is that despite their recognition, they are not one of those unregulated bodies.

They also provide demo accounts, so that novice traders can test waters, and to help out advanced traders who are hunting for a new broker. Oanda FXTrade seems to be putting in a lot of effort in updating their tools. Their customer service includes live help (chatting only, no internet voice calls or Skype) and several different forms. Oanda also claims that their earnings withdrawals for US residents take up to 2 business days, and a week for international clients.

Basic Broker Details

Pros of Oanda FXTrader

*Accepts PayPal

*Sufficient charts, OK tools

*Very fast customer service

*Flexible trade sizes

Cons of Oanda FXTrader

*Doesn’t accept Moneybookers, Western Union and credit cards

*No trailing stops

*More fees than other traders (look at their chart first)