Broker review

OANDA review: CFD trading, UK and global companies

OANDA lists 8 companies in our data, 7 of them Tier 1: the US, UK, EU, Australia, Canada, Singapore and Japan each have their own. No minimum deposit on standard accounts; EUR/USD from 0.6 pips spread-only in the UK.

Written and checked by: Low Spread Brokers team
Updated: 20 Oct 2026

Low Spread Brokers does not give personal investment advice.

Verdict at a glance

OANDA

8.1/10

Entities 8

Minimum deposit: $0
EUR/USD spread from: 0.0 pips (Raw spreads + commission (OANDA Australia), 19 Oct 2026)
Max retail leverage: 50:1 implied (margin from 2% on EUR/USD, retail) (CFTC / NFA) · 30:1 (major forex pairs, retail; margin 3.33%) (FCA) · 1:30 (retail, per account comparison table on EU site) (KNF) · up to 20:1 (retail) (MAS) · 25x implied (individual FX margin at least 4% of transaction amount) (JFSA)
Platforms: MT4, MT5, TradingView, proprietary
Founded: 1996

4 of 8 licences checked on the register, 20 Oct 2026

Visit brokerUnpaid link

76.6% of retail investor accounts lose money when trading CFDs with this provider (OANDA Europe Limited).

All broker reviews

OANDA’s preliminary rating is 8.1/10: regulation 9.0/10, platforms 8.0/10, costs 7.6/10 and accounts 7.5/10. Each company publishes its own prices and leverage, so the figures below name the company. They come from OANDA’s pages, checked 19 Oct 2026; we have not opened a live account. Read first: how we rankhow we make moneyeditorial policy

Edited by Low Spread Brokers team · Updated 20 Oct 2026

Quick answer

Is OANDA good for CFD trading in the UK?

UK clients trade CFDs with OANDA Europe Limited, FCA licence 542574 as OANDA publishes it, with 30:1 on major pairs, negative balance protection and no minimum deposit. OANDA’s UK site states FSCS cover up to £50,000 for investment claims, below the £85,000 investment limit in our UK reference, so check it with the FSCS. 76.6% of the UK company’s retail accounts lose money.

US clients trade with OANDA Corporation (NFA member); OANDA quotes EUR/USD there at 1.4 pips without saying whether that is a minimum or an average.
OANDA Asia Pacific Pte Ltd states no negative balance protection, and caps retail leverage at 20:1.
Clients in 12 listed countries in Asia, Latin America and the UAE sign up with OANDA Global Markets Ltd in the British Virgin Islands, an offshore company.
Residents of Alberta are not currently accepted by OANDA Canada.

OANDA pros and cons

Pros

7 Tier 1 companies, including the US (CFTC/NFA) and Canada (CIRO)
No minimum deposit on standard accounts in the UK, Australia, Singapore and the BVI
MT4, MT5, TradingView and its own platform
Raw pricing in Australia: EUR/USD from 0.0 pips plus AUD 3.50 per 100,000 traded

Cons

UK FSCS cover stated as £50,000 for investment claims
Published loss rates of 76.6% (UK) and 77% (EU)
No negative balance protection at the Singapore company
Funding by card or bank transfer only, in our data

Entities and regulation

OANDA lists 8 companies in our data. The one that opens your account sets your leverage cap, negative balance protection and compensation scheme. Licence numbers are as the broker publishes them; check each on its regulator’s register.

Entities and regulation
Entity	Regulator	Licence	Max. retail leverage	Negative balance protection	Compensation
OANDA Corporation	Tier 1 CFTC / NFA	NFA ID 0325821 (CFTC-registered FCM and RFED, NFA member)As published by the broker	50:1 implied (margin from 2% on EUR/USD, retail)	Not published	Not published
OANDA Europe Limited	Tier 1 FCA	542574 (FRN); Companies House 7110087Checked on the register, 20 Oct 2026	30:1 (major forex pairs, retail; margin 3.33%)	Yes	FSCS up to £50,000 if the firm fails (investment claims); up to £85,000 per person per institution if a bank holding client money fails
OANDA TMS Brokers S.A.	Tier 1 KNF	KPWiG-4021-54-1/2004 (licence of 26 April 2004); KRS 0000204776As published by the broker	1:30 (retail, per account comparison table on EU site)	Yes	Not published
OANDA Australia Pty Ltd	Tier 1 ASIC	AFSL 412981; ABN 26 152 088 349Checked on the register, 20 Oct 2026	Not published	Not published	Not published
OANDA (Canada) Corporation ULC	Tier 1 CIRO	Not publishedCompany checked on the register, 20 Oct 2026; the register does not list the number	Not published	Not published	CIPF up to CAD 1,000,000 per client (subject to specified limits)
OANDA Asia Pacific Pte Ltd	Tier 1 MAS	Capital Markets Services Licence (number not published on page); Co. Reg. No 200704926KCompany checked on the register, 20 Oct 2026; the register does not list the number	up to 20:1 (retail)	No	Not published
OANDA証券株式会社 (OANDA Securities Co., Ltd., formerly OANDA Japan)	Tier 1 JFSA	関東財務局長（金商）第2137号As published by the broker	25x implied (individual FX margin at least 4% of transaction amount)	Not published	Not published
OANDA Global Markets Ltd	Offshore BVI FSC	SIBA/L/20/1130; BVI company No 2026433As published by the broker	Not published	Not published	Not published

Which entity will I get?

Pick your region to see which company our data says would hold your account.

OANDA Europe Limited · FCA · 542574 (FRN); Companies House 7110087 · Max retail leverage 30:1 (major forex pairs, retail; margin 3.33%)

OANDA TMS Brokers S.A. · KNF · KPWiG-4021-54-1/2004 (licence of 26 April 2004); KRS 0000204776 · Max retail leverage 1:30 (retail, per account comparison table on EU site)

OANDA Corporation · CFTC / NFA · NFA ID 0325821 (CFTC-registered FCM and RFED, NFA member) · Max retail leverage 50:1 implied (margin from 2% on EUR/USD, retail)

OANDA (Canada) Corporation ULC · CIRO · Not published · Max retail leverage Not published

OANDA Australia Pty Ltd · ASIC · AFSL 412981; ABN 26 152 088 349 · Max retail leverage Not published

OANDA Asia Pacific Pte Ltd · MAS · Capital Markets Services Licence (number not published on page); Co. Reg. No 200704926K · Max retail leverage up to 20:1 (retail)

OANDA証券株式会社 (OANDA Securities Co., Ltd., formerly OANDA Japan) · JFSA · 関東財務局長（金商）第2137号 · Max retail leverage 25x implied (individual FX margin at least 4% of transaction amount)

OANDA Global Markets Ltd · BVI FSC · SIBA/L/20/1130; BVI company No 2026433 · Max retail leverage Not published

Warnings and clones

Search each OANDA licence number on the regulator’s own register and compare the website address listed there with the one you are on. Clone firms copy real names and licence numbers.

Client money

OANDA Europe Limited states FSCS cover up to £50,000 if the firm fails and up to £85,000 if a bank holding client money fails. OANDA (Canada) Corporation ULC lists CIPF cover up to CAD 1,000,000 per client, subject to limits. Tier 1 regulators require client money to be held apart from the firm’s own money. An offshore company may not offer the same protection, and its compensation, if any, is the broker’s own arrangement.

Costs and fees

Each OANDA company publishes its own EUR/USD price, so the account column names the company. The UK spread-only price is from 0.6 pips; Australia 0.7 pips. OANDA publishes no averages.

Spreads by pair and account

Spreads by pair and account
Pair	Account	Published spread	Checked	Source
EUR/USD	Spread-only (OANDA Europe Limited, UK)	0.6 pips from	19 Oct 2026	https://www.oanda.com/uk-en/trading/our-pricing/
EUR/USD	Spread-only (OANDA Australia)	0.7 pips from	19 Oct 2026	https://www.oanda.com/au-en/trading/our-pricing/
EUR/USD	Raw spreads + commission (OANDA Australia)	0.0 pips from	19 Oct 2026	https://www.oanda.com/au-en/trading/our-pricing/
EUR/USD	Spread-only (OANDA Asia Pacific, SG)	0.8 pips from	19 Oct 2026	https://www.oanda.com/sg-en/trading/our-pricing/
EUR/USD	Core pricing (OANDA Asia Pacific, SG)	0.0 pips from	19 Oct 2026	https://www.oanda.com/sg-en/trading/our-pricing/
EUR/USD	Spread-only (OANDA Corporation, US; page does not label as min/avg)	1.4 pips	19 Oct 2026	https://www.oanda.com/us-en/trading/our-pricing/

4 of 8 licences checked on the register, 20 Oct 2026

Commission

3.5 AUD per lot per side (Raw spreads + commission (OANDA Australia; "$3.50 per 100,000 volume"))

Swaps

Swap rates for OANDA are not in our data; check the overnight rate of the company that holds your account before keeping a position open overnight.

Non-trading fees

Deposit fee: Not in our data
Withdrawal fee: Not in our data
Inactivity fee: Not in our data

Account types

Account types listed for OANDA in our data. Spread-only accounts in the UK, Australia, Singapore and the BVI have no minimum deposit ($0). Minimum deposit: $0

StandardCosts built into the spread, no separate commission.
RawRaw spread with a commission charged per lot.
DemoVirtual money with live prices.
ProfessionalFor clients who opt up: higher leverage, fewer retail protections.

Professional status

Opting up to professional status with OANDA removes retail protections such as leverage caps and negative balance protection.

Demo account

OANDA offers a demo account (checked 20 Oct 2026 on OANDA’s site). How long it lasts: does not expire (UK); MT4 demo sub-accounts close after 90 days of inactivity. Platforms: its own web platform, its own desktop platform, its own app and MT4. Demo results do not include slippage or the cost of a real loss.

Trading platforms

Platforms OANDA offers, from our data (checked 19 Oct 2026).

MT4MetaTrader 4: expert advisors and a wide indicator library.
MT5MetaTrader 5: more order types and timeframes than MT4.
TradingViewPlace trades from TradingView charts.
proprietaryThe broker’s own web and mobile platform.

Markets

Forex: CFDs
Other markets: Not recorded in our data; check the product list of the company that holds your account

Deposits and withdrawals

Funding methods listed on OANDA’s pages. Availability depends on your country and the company that holds your account.

Debit card
Credit card
Bank transfer (Faster Payments, BACS, CHAPS, SWIFT, SEPA)

List copied from the broker’s pages, checked 19 Oct 2026.

Before your first withdrawal

Methods in our data: 3
Withdrawal fees and times: Not in our data yet
Where to check: The deposits and withdrawals page of your company’s website

Score breakdown

Four criteria scored 0–10 from published data. Research and support show “not measured” until we open live accounts; the marker on each bar is the average of this page’s comparison set.

8.1/10

CostsWeight 25%7.6Set average 7.3
PlatformsWeight 15%8.0Set average 8.2
RegulationWeight 25%9.0Set average 8.3
AccountsWeight 15%7.5Set average 8.2
ResearchWeight 10%Not measuredNot measuredSet average 0.0
SupportWeight 10%Not measuredNot measuredSet average 0.0

Published data log

Every dated entry behind the figures on this review, copied from OANDA’s own pages. Licence rows show the leverage the broker publishes for that company.

Published data log
Checked	Entry	Published value
19 Oct 2026	EUR/USD spread, Spread-only (OANDA Europe Limited, UK)	0.6 pips from
19 Oct 2026	EUR/USD spread, Spread-only (OANDA Australia)	0.7 pips from
19 Oct 2026	EUR/USD spread, Raw spreads + commission (OANDA Australia)	0.0 pips from
19 Oct 2026	EUR/USD spread, Spread-only (OANDA Asia Pacific, SG)	0.8 pips from
19 Oct 2026	EUR/USD spread, Core pricing (OANDA Asia Pacific, SG)	0.0 pips from
19 Oct 2026	EUR/USD spread, Spread-only (OANDA Corporation, US; page does not label as min/avg)	1.4 pips
19 Oct 2026	Retail loss rate, OANDA Europe Limited	76.6%
19 Oct 2026	Retail loss rate, OANDA TMS Brokers S.A.	77%
Not published	Licence NFA ID 0325821 (CFTC-registered FCM and RFED, NFA member), CFTC / NFA: max. retail leverage	50:1 implied (margin from 2% on EUR/USD, retail)
Not published	Licence 542574 (FRN); Companies House 7110087, FCA: max. retail leverage	30:1 (major forex pairs, retail; margin 3.33%)
Not published	Licence KPWiG-4021-54-1/2004 (licence of 26 April 2004); KRS 0000204776, KNF: max. retail leverage	1:30 (retail, per account comparison table on EU site)
Not published	Licence AFSL 412981; ABN 26 152 088 349, ASIC: max. retail leverage	Not published
Not published	Licence Not published, CIRO: max. retail leverage	Not published
Not published	Licence Capital Markets Services Licence (number not published on page); Co. Reg. No 200704926K, MAS: max. retail leverage	up to 20:1 (retail)
Not published	Licence 関東財務局長（金商）第2137号, JFSA: max. retail leverage	25x implied (individual FX margin at least 4% of transaction amount)
Not published	Licence SIBA/L/20/1130; BVI company No 2026433, BVI FSC: max. retail leverage	Not published

Our verdict on OANDA

8.1/10

OANDA has one of the widest sets of Tier 1 companies in our data, US included, and no minimum deposit on standard accounts. The weak points are a lower stated FSCS figure in the UK, published loss rates of 76.6% and 77% for its UK and EU companies, and only cards and bank transfers for funding.

Choose it if

you live in the US, Canada, Singapore or Japan and want a local company
you want MT4, MT5 or TradingView with no minimum deposit

Look elsewhere if

you want cTrader or spread betting
you fund by PayPal or Skrill
you live in Alberta

Visit brokerUnpaid link

76.6% of retail investor accounts lose money when trading CFDs with this provider (OANDA Europe Limited).

What changed

19 Oct 2026 Companies, spreads for four companies, Australian commission and UK and EU loss rates collected from OANDA’s pages.

Alternatives to OANDA

ThinkMarkets, IC Markets, Vantage and FP Markets: other brokers with MT5, TradingView and a low minimum deposit, in the order of this page’s rule.

1
ThinkMarkets
7.6/10
Minimum deposit
$10
EUR/USD spread from
Not measured
Regulated by
FCA, CySEC, ASIC, ASIC, DFSA, FSCA, FSA Seychelles, CIMA, FMA, Unregulated
Visit brokerUnpaid link
75% of retail investor accounts lose money when trading CFDs with this provider (TF Global Markets (UK) Limited).
2
IC Markets
8.1/10
Minimum deposit
$0
EUR/USD spread from
0.1 pips
Regulated by
ASIC, CySEC, FSA Seychelles, SCB
Visit brokerUnpaid link
73.46% of retail investor accounts lose money when trading CFDs with this provider (IC Markets (EU) Ltd).
Read review
3
Vantage
8.0/10
Minimum deposit
$50
EUR/USD spread from
0.0 pips
Regulated by
FCA, ASIC, FSCA, CIMA, VFSC, FSC Mauritius
Visit brokerUnpaid link
72.65% of retail investor accounts lose money when trading CFDs with this provider (Vantage Global Prime LLP).
Read review
4
FP Markets
8.0/10
Minimum deposit
$50
EUR/USD spread from
0.0 pips
Regulated by
ASIC, CySEC, FSCA, FSA Seychelles
Visit brokerUnpaid link
74.51% of retail investor accounts lose money when trading CFDs with this provider (First Prudential Markets Ltd).

Risk warning:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money. Consider whether you understand how CFDs work and whether you can afford the high risk of losing your money.

Low Spread Brokers does not give personal investment advice.

Advertiser disclosure How we rank brokers

FAQ

OANDA review: questions

Answers use OANDA’s published terms collected on 19 Oct 2026. Terms change: check the broker’s own page before you trade.

Ask a question

We cannot give personal investment advice.

1Is OANDA regulated in the UK?

Yes: OANDA Europe Limited holds FCA FRN 542574, as OANDA publishes it. Search the number on the FCA Register and compare the website address shown there.