OANDA Review: Licences, Withdrawals, Islamic Terms
Verified facts
| Founded | 1996 |
| Minimum deposit | $0 |
| EUR/USD spread from | EUR/USD from 1.0 pip (spread-only Standard account) or 0.1 pip + commission (Core pricing) — OANDA Global Markets (BVI), https://www.oanda.com/bvi-en/cfds/our-pricing/ |
| Platforms | OANDA Trade web/desktop portal, OANDA Mobile app (fxTrade), MetaTrader 5, TradingView |
| Withdrawal methods | Visa/Mastercard credit and debit cards, Bank/wire transfer (incl. Wise), Skrill, Neteller, Local alternative payment methods (deposit only; withdrawn back via bank transfer) |
| Crypto deposits/withdrawals | No |
Withdrawal speed: claim vs. measured
| Broker-published claim | Measured by us |
|---|---|
| Credit/debit cards: one to three business days; Skrill and Neteller: within one business day; bank or wire transfer: within two to five business days (financial institution may take additional time). [Source] | Testing in progress |
Islamic account: published terms vs. audit
| Availability | Broker-published claim | Measured by us |
|---|---|---|
| Yes | OGM Terms of Business state financing costs do not apply to 'Swap Free' accounts ("Financing Costs do not apply to 'Swap Free' accounts, further information available on the Website"). Admin fee amount, grace period and instrument exclusions are NOT published on the public site. [Source] | Testing in progress |
Maximum leverage by entity
| Regulation | Leverage | Source |
|---|---|---|
| FCA (UK) OANDA (Europe) Limited | Retail 30:1 major forex (3.33% margin); 20:1 non-major forex and gold (5.00% margin) | Source |
| BVI OANDA Global Markets (BVI division) | 200:1 | Source |
Gulf funding and account currency
| mada | Not published |
| KNET | Not published |
| UAE local bank | Not published |
| AED account | Not published |
Published deposit methods: cards, bank transfer including WISE, Skrill, Neteller. Local bank-transfer and e-wallet options are stated to exist for certain South East Asian, Latin American and African markets — the Gulf is not among the regions named.
Scalping, Expert Advisors and hedging
| For Scalping | Not published |
| Expert Advisors | Not published |
| Hedging | Not published |
Regulation and license numbers
| Regulation | License no. | Official register |
|---|---|---|
| CFTC / NFA (registered FCM and Retail Foreign Exchange Dealer) (United States) | NFA No. 0325821 | Source |
| FCA (Financial Conduct Authority) (United Kingdom) | No. 542574 | Source |
| ASIC (Australian Securities and Investments Commission) (Australia) | AFSL No. 412981 (ABN 26 152 088 349) | Source |
| MAS (Monetary Authority of Singapore) (Singapore) | Capital Markets Services Licence (licence number not printed; Co. Reg. No 200704926K) | Source |
| CIRO (Canadian Investment Regulatory Organization) (Canada) | not printed on site (CIRO member; CIPF-protected) | Source |
| Kanto Local Financial Bureau (Japan FSA), Type I Financial Instruments Business (Japan) | Kinsho Registration No. 2137 | Source |
| BVI Financial Services Commission (British Virgin Islands) | SIBA/L/20/1130 (company no. 2026433) | Source |
| KNF (Polish Financial Supervision Authority) (Poland / EU) | authorization of April 26, 2004 (KPWiG-4021-54-1/2004) | Source |