OANDA review
Details checked 27 Sept 2026. Always confirm current terms on the broker's site.
Our verdict
OANDA is a long-running, heavily regulated broker with no minimum deposit and flexible trade sizing. Its gold spreads are above average and it does not accept Indian residents.
OANDA was founded in 1996 and is headquartered in New York, with regulated entities in the US, UK, Canada, Australia, Japan, Singapore and the EU, plus an offshore entity in the British Virgin Islands. In 2025 it was acquired by FTMO Group from its previous private-equity owner. ForexBrokers.com counts seven Tier-1 regulators, which places OANDA among the most tightly supervised brokers here. Gold is available as a CFD outside the US. BrokerChooser measured OANDA's XAUUSD spread at $0.38 in September 2026, above the $0.32 market average. A Core Pricing account with commissions is available from $10,000, but its gold pricing is not published. Retail leverage on gold is 1:20 in Tier-1 jurisdictions. Platforms include OANDA's own web and mobile app, MT4, MT5 in some regions and TradingView in the US, UK and Canada. There is no minimum deposit, and OANDA's platform allows flexible position sizes. A swap-free account is not published. OANDA does not accept clients from India according to BrokerChooser, and it does not appear on the RBI Alert List. It suits gold traders in supported countries who prioritise regulation over the lowest cost.
Pros
- Seven Tier-1 regulators and a nearly 30-year track record
- No minimum deposit
- Flexible position sizing suits small gold positions
- Good research and a well-regarded mobile app
Cons
- Gold spread ($0.38) above the market average
- Does not accept Indian residents
- No published swap-free account
- Ownership changed in 2025 (FTMO Group), a fact some traders will want to monitor
Key facts
| Founded | 1996 |
|---|---|
| Headquarters | New York, USA (owned by FTMO Group since 2025) |
| Regulators | CFTC/NFA (OANDA Corporation) (Tier-1); FCA (OANDA Europe Markets Ltd) (Tier-1); ASIC (OANDA Australia) (Tier-1); CIRO Canada (Tier-1); MAS Singapore (Tier-1); JFSA Japan (Tier-1); EU MiFID (OANDA TMS Brokers, Poland KNF) (Tier-1); FSC BVI (OANDA Global Markets Ltd) |
| Gold (XAUUSD) available | Yes |
| Gold spread, standard account | $0.38 per BrokerChooser XAU/USD spread benchmark, updated 17 Sep 2026, in USD per ounce |
| Gold spread, raw/ECN account | Core pricing account exists ($10,000 min) but gold-specific raw spread not published |
| Commission, raw account | Core pricing: $5 per $100k traded on FX; gold commission not published |
| Max gold leverage (offshore entity) | not published (BVI entity) |
| Max gold leverage (Tier-1 entity) | 1:20 (FCA/ASIC retail); gold CFDs not offered to US retail clients |
| Minimum trade size | not published (OANDA supports unit-based sizing on its own platform) |
| Platforms | OANDA Trade (web/app), MT4, MT5 (select regions), TradingView (US/UK/Canada) |
| Minimum deposit | $0 |
| Account types | Standard, Core Pricing, Elite Trader programme |
| Indian deposit methods | Not applicable |
| Accepts clients from India | No (BrokerChooser, Sep 2026) |
| Negative balance protection | Yes for Tier-1 retail clients (non-US) |
| Segregated client funds | Yes |
| Investor compensation | FSCS up to GBP 85,000 for UK clients; varies by jurisdiction |
| Swap-free account | No |
| On RBI Alert List | No: 2025-11-19 (latest RBI update found; checked 2026-09-27) |
Member reviews
Sources used for this review
- forexbrokers.com/reviews/oanda
- brokerchooser.com/broker-reviews/oanda-review/xauusd-spread
- brokerchooser.com/broker-reviews/oanda-review/oanda-india
- upstox.com/news/personal-finance/trading/rbi-alert-list-updated-full-list-of-unauthorised-
- completetradersedge.com/rbi-alert-list/
- au.bank.in/hi/hi/assets/banner-text-table/pdf/unauthorised-forex-transactions.pdf
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