With a fast & reliable trading platform by OANDA, clients' trades are executed in 0.012 seconds. When traders are unavailable to monitor open positions, they can set take profit orders to lock in profits and Stop Loss orders to help protect against further losses.Īs an experienced and well-known online forex broker, OANDA is committed to maintain an efficient trading environment that reduces latency and provid tools to help clients manage the degree of acceptable slippage. The company never withdraws Requotes so traders can get maximum profit. However, traders do not need to worry about additional costs when trading with OANDA. This condition is often exploited by brokers to take advantage of clients with Requotes. Especially when news releases have a large impact on market volatility. That way, traders can get the latest conditions from price movements in the market more quickly. When market spreads increase or decrease, their pricing engine widens or narrows spreads accordingly. OANDA faces increased market risk during periods of price volatility, such as economic and political news announcements. Nevertheless, OANDA is known for being a leading broker with many advantages offered. On top of that, hedging is not allowed in one trading account as the client must open an additional account to hedge. Besides, the registration procedure is more complex due to various additional requirements that are not submitted by other forex brokers. However, these advantages make trading rules at OANDA more stringent compared to other brokers.įor example, OANDA only allows maximum leverage of 1:20, because the rules in the US and Japan do not allow leverage above that. Traders do not need to worry anymore about security when trading in OANDA. They are regulated by CFTC and NFA in the US, FCA in the UK, ASIC in Australia, and many others. OANDA's company is registered under several well-known jurisdictions in financial trading. With this number of offices spread, OANDA has increasingly attracted the attention of clients worldwide. Some of these offices are located in the United Kingdom, Singapore, Japan, and Canada. OANDA branch offices can be found everywhere. They have a head office in San Francisco, United States. Richard Olsen of The Olsen Ltd., which is one of the leading econometric research institutes. Michael Stumm who is a lecturer in Computer Engineering at the University of Toronto, Canada, along with his colleague, Dr. It provides benefits for novice traders, as they can trade with smaller volumes using the calculation system based on currency value, unlike other brokers adopting the lot system.įounded in 1996, OANDA was built by Dr. Order execution speed is also faster in this broker. That is because OANDA is a broker that provides quotes with 5-digit accuracy and active price movements that follow market developments. Traders looking for brokers with accurate precision, OANDA can be an option. In addition, the service is available in 9 languages, including English, French, German, Spanish, Italian, Portuguese, Russian, Chinese, and Japanese. There's also no need to sign up for anything. You can use the service at any time and for free. Partnered with Shift, OANDA's currency converter allows users to check the latest foreign exchange average for bid and ask rates, as well as convert all major currencies in the world.Īt OANDA, there are up to 212 currencies that can be used in the currency converter. OANDA is a well-known brokerage firm that offers a reliable currency converter service for its customers. On top of that, many of them are quite transparent, so customers can calculate the potential charges upfront. They can make forex exchanges faster and cheaper because they use real-time exchange rates and don't have additional costs like banks do. Going for a money firm or broker like OANDA is the best way to make international transfers due to their competitive speed and cost. The money that the consumer sends is then transferred at this rate and converted into the other currency. When an international transfer is made, the exchange rate basically sets the difference between the currencies based on the market condition at the exact time. This system allows customers to convert one currency into another, but not always in a 1:1 ratio because exchange rates fluctuate regularly. With online foreign currency exchange, customers can make money transfers through their choice of bank or firm, which quotes an exchange rate before processing the transaction. Are you looking for a transparent and reliable tool before exchanging some money? OANDA Currency Converter might have the perfect solution for you.
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