Broker review · 2026
OANDA review 2026
A US forex pioneer with no minimum deposit and a respected API.
OANDA was one of the first online forex brokers and is still one of the most trusted in the US. There is no minimum deposit, trade sizes start at a single unit, and its REST API, TradingView integration and MT4 support appeal to both beginners and systematic traders.
Pros
- No minimum deposit and flexible position sizing
- Long track record and multiple tier-1 licences
- Popular REST API for automated trading
- Clean web and mobile platforms with TradingView charts
Cons
- Standard spreads are average for US brokers
- Smaller pair selection than FOREX.com or tastyfx
- No MetaTrader 5 for US clients
OANDA overview
OANDA launched in 1996 as a currency data company and became one of the first brokers to offer online forex trading to retail clients. OANDA US (OANDA Corporation) serves American traders under CFTC/NFA rules; elsewhere OANDA offers CFDs through FCA, ASIC, CIRO, MAS and JFSA regulated entities.
Is OANDA safe and regulated?
OANDA Corporation is a registered Futures Commission Merchant and Retail Foreign Exchange Dealer, and an NFA member. With nearly three decades of operation and licences across major financial centres, it scores at the top of our trust category.
Tier-1 regulators are shown in bold. Always confirm the licence on the regulator’s own register.
OANDA spreads and fees
Standard pricing is spread-only with EUR/USD typically around 1.3 to 1.6 pips. Core pricing reduces spreads to near zero for a commission of about $5 per 100k traded, and Elite Trader rebates are available to high-volume clients.
| Account | EUR/USD spread | Commission (round turn) | Cost per lot |
|---|---|---|---|
| Standard | 1.4 pips | $0 | $14.0 |
| Raw / ECN | 0.1 pips | $5 | $6.0 |
Trading platforms
The OANDA web and mobile platforms are clean and easy to learn, with TradingView-powered charts. MT4 is available for expert advisors, and developers can use the well-documented v20 REST API. Daily market analysis and an economic calendar are built in.
How OANDA scores
- Trust & regulation 30%
- 4.8
- Fees & spreads 25%
- 4.0
- Platforms & tools 15%
- 4.3
- Markets & range 10%
- 3.4
- Ease of use 10%
- 4.6
- Research & education 10%
- 4.3
Verdict
OANDA is a great first broker for US traders and a solid choice for API-driven strategies. Active traders should look at core pricing to bring costs down.
Open an account with OANDAYou will be taken to oanda.com.
OANDA FAQ
Is OANDA available in the US?
Yes. OANDA Corporation is regulated by the CFTC and is a member of the NFA.
Does OANDA have a minimum deposit?
No. OANDA has no minimum deposit for standard accounts.
Does OANDA support MT4?
Yes. OANDA supports MetaTrader 4 alongside its own platform and TradingView.
Is OANDA good for beginners?
Yes. OANDA scores 4.6/5 for ease of use in our testing, with a $0 minimum deposit.