Welcome to our series of reviews of trading websites. Today we are going to be looking into the Oanda.com website – design, services, trading platform, etc. Enjoy!
Oanda web is designed with fresh and dynamic theme in mind. The color pallet is pleasing to the eye, but some elements leave a lot to be desired. For example, the top navigational bar does not expand automatically and needs to be clicked on first which slows the users down. In addition, the website as the website is fairly vast, it is quite slow to load.
News and other information
Oanda runs a dedicated news web at marketpulse.com and as such investors have a wealth of information to draw on. In addition to general news, market analyses are also offered. An economic calendar can also be used. Oanda also offers several technical tools such as heatmaps. This broker has a fairly extensive education section, on both simple and more advanced concepts. Information is explained by a combination of articles and video. In addition, interactive webinars are also offered.
All of the common instruments are offered, such as forex or commodities. Maximum leverage offered is 1:50, but it only applies in some countries. There are no universal trading conditions, every instrument has its own spread. It is not clear if there are any additional fees as terms and condition mention, but do not enumerate them and we could not find them on the website either.
Investors can choose between a web and desktop or smartphone-based clients. Oanda offers an unlimited demo client, requiring some personal information, but there is no active verification of any data you submit. Interface can be described as middle of the road, not too flashy, but not barebones either. Controls are fairly intuitive, although novice investors may be lost as most of the buttons have no explanation of their function. Basic trading is simple though, you select an instrument, select the condition and trade. There are links inside the application for news and analysis, but they simply open a new tab and do not display information inside the application which may be annoying for some.
Conclusion and information about broker
All in all, this is a solid website, both news and education section are well done. On the other hand, this web could use a redesign and there is very little information on the exact trading fees and conditions. Oanda is headquartered in the US, which means more regulation but also more safeguards. This broker can be contacted by phone, mail or via help service.
Overall assessment: 2-