OANDA review
Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026
We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.
Our verdict
OANDA suits UK and European traders who want forex and share dealing on a single platform, alongside ETFs, CFDs, crypto and bonds. The minimum deposit is $0, retail leverage runs to 1:30, and 72% of retail accounts lose money, so size positions with care.
Key facts
- Best for
- Low deposit entry to a multi market trading account in the UK and Europe.
- Minimum deposit
- $0↗
- Markets
- Stocks, ETFs, Forex, CFDs, Crypto, Bonds↗
- Regulators
- FCA, CFTC↗
- Investor protection
- FSCS up to GBP 85,000↗
- Retail accounts that lose money
- 72%↗
- Maximum retail leverage
- 1:30↗
- Legal entity
- OANDA TMS Brokers S.A.↗
- Founded
- 1996↗
- Features
- Demo account, Mobile app
- Official website
- oanda.com
Facts checked September 26, 2026, 4 sources
Pros and cons
Pros
- A minimum deposit of $0 puts OANDA at position 1 on minimum deposit among 218 brands.
- A single login covers stocks, etfs and forex, so forex and share dealing sit on the same platform.
- Oversight on each side of the Atlantic, with FCA and CFTC listed and protection of FSCS up to GBP 85,000.
Cons
- Leverage of 1:30 magnifies losses, and 72% of retail accounts lose money.
- Protection stops at FSCS up to GBP 85,000, so larger balances sit beyond the scheme limit.
- A single contracting entity, OANDA TMS Brokers S.A., holds accounts that mix share dealing with CFDs and crypto from stocks, etfs and forex.
Who it suits
- UK and European retail traders who want forex and share dealing without a deposit floor.
- People who want a demo account and a mobile app in place before committing money.
- Traders who check a regulator and a licence number before opening an account.
Who should look elsewhere
- Borrowers rather than traders, who should look at Fiesta Credito MX, regulated by CONDUSEF in Mexico.
- Traders whose plan leans on bonds, since CFI lists stocks, etfs and forex while the OANDA list in stocks, etfs and forex also covers bonds.
- Anyone who insists on a set deposit before opening, since bunq shows a minimum deposit of €10.
Deposit protection
Regulators listed for OANDA are FCA and CFTC. UK business carries FCA licence 542574 and US business CFTC licence 0325821. Protection for eligible claims runs to FSCS up to GBP 85,000, which caps what the scheme returns if the broker fails. Leveraged positions can lose more than the balance sitting in the account, so the limit is the ceiling on any recovery.
The company behind it
The contracting entity is OANDA TMS Brokers S.A. and the brand dates back to 1996. The licences behind the name are FCA 542574 in the UK and CFTC 0325821 in the US, so read the entity on your account agreement against the licence register before depositing. Age says nothing about your own outcome, but the entity name tells you who holds the money.
How OANDA compares
9.6 vs 9.4
9.6 vs 8.7
9.6 vs 8.3
9.6 vs 8.5
9.6 vs 9.4
9.6 vs 9.3
9.6 vs 8.7
9.6 vs 9.2
9.6 vs 8.7
9.6 vs 8.6
9.6 vs 9.2
9.6 vs 9.2
9.6 vs 9.0
9.6 vs 9.2
9.6 vs 9.2
9.6 vs 9.2
9.6 vs 9.1
9.6 vs 9.0
9.6 vs 9.0
9.6 vs 9.0
9.6 vs 9.0
9.6 vs 8.8
Where OANDA is available
- Licence in United Kingdom
- FCA (542574), checked September 26, 2026
- Licence in United States
- CFTC (0325821), checked September 26, 2026
Frequently asked questions
What is the minimum deposit at OANDA?+
The minimum deposit is $0, so you can fund an account at a size that suits a trial rather than waiting on a set sum. On the minimum deposit ranking that places OANDA at position 1 among 218 brands. Anything above that floor is your decision.
Who regulates OANDA?+
OANDA is listed with FCA and CFTC. The UK registration is the FCA under licence 542574 and the US registration is the CFTC under licence 0325821. Each registration carries a licence number, so both sides of the business can be checked against the regulators' public registers before you deposit.
How much protection covers money held at OANDA?+
Protection for eligible claims is FSCS up to GBP 85,000, which caps what the scheme returns if the broker fails. Balances above that figure sit outside the cap, and a leveraged CFD or crypto position can lose more than the balance in the account. The limit is a ceiling on recovery rather than a limit on losses.
What can I trade on OANDA?+
The markets list runs to stocks, etfs and forex. That mixes cash instruments such as shares, ETFs and bonds with leveraged products such as CFDs and crypto, with forex in the middle. A single login covers the lot, so the risk of each position matters more than which account it sits in.
How much leverage do I get, and how many retail traders lose money?+
Retail leverage runs to 1:30, so a modest move against a position can consume a deposit quickly. Across OANDA, 72% of retail accounts lose money, close to the 70.15% recorded across the brokers listed. Trading well below the leverage ceiling is the practical defence.
Can I practise before trading, and is there an app?+
The features listed for the platform are demo account and mobile app. A demo account lets you place trades without putting money at risk, and the mobile app means positions can be watched and closed away from a desk. Both matter more in leveraged markets, where reacting late costs more than the spread itself.
Who is the company behind the account?+
The contracting entity is OANDA TMS Brokers S.A. and the brand dates back to 1996. A long history says little about your own outcome, but the entity name tells you who holds your money and which regulator's rules apply. Check that name against the licence numbers before funding an account.
Sources
- brokersway.com/comparison/pepperstone-vs-oanda checked September 26, 2026
Backs: Founded, Maximum retail leverage, Minimum deposit
“Founded by Drs. Stumm and Olsen in the USA in 1996”
- oanda.com checked September 26, 2026
Backs: Markets
“Online Forex, Shares and Crypto CFD Trading Broker”
- oanda.com/eu-en checked September 26, 2026
Backs: Features, Legal entity
“Open a free OANDA demo account”
- tradingpedia.com/forex-brokers/oanda checked September 26, 2026
Backs: Investor protection, Regulators, Retail accounts that lose money, Licences
“72% of retail CFD accounts lose money”
Compiled from 4 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Stock trade fee, Account fee, Inactivity fee.
OANDA
Low deposit entry to a multi market trading account in the UK and Europe.