OANDA - Forex trading Reviews

by LEtrys20

The interface is outdated, and order execution is horrible. If I set a take profit, I shouldn’t have to manually close my order cause my broker won’t close.

The only things I like about this app compared to IG is that they are partners with TradingView (who has a way better interface), and it’s easier for someone working with a smaller account to make profit and withdraw funds. IG forces you to be a rat on a wheel for them, having to constantly trade because their minimum withdraw amount is so high for a beginner/person working with small account. You won’t really ever be able to make profit with IG.

by Agent619

Tried to create a demo account at least 5 or 6 times. Each time it just loads and gives zero confirmation that the account was created. No email. Nothing. Then one of them allowed me to get into the dashboard on the website and when I tried to actually log into the practice account part (it required another login) it didn’t work.

Access is denied. It happens no matter what platform I go on. I must have made like 5 or 6 account password combinations. Each one has my same phone number so I don’t know why it isn’t working. I thought it could’ve been because I made an account during maintenance hours (which there was zero indicator of for a first time user, that it was even happening in the first place).

Now nothing works. Tried calling the hotline. Said it was 24/7 but that the lines were down. So I’m really disappointed with OANDA and service altogether because the sign up part seems to be a mess.

I submitted all my info and they gave me nothing in return. So you actually walk away feeling robbed. I tried to reset my cookies and even that didn’t work. Tried different browsers. Tried phone and pc.
Tried waiting it out 48 hrs. NOTHING.

If there are down hours OANDA needs to do a better job at reflecting that to its users. I still would like to use OANDA but as of right now my experience with this is a 1 Star.

by Petrretun

Do you really consider yourself a serious company?🤦🏻
No one works for you, no one knows anything, they laugh on the phone, they hang up when I ask questions. district and your financial company, along with your utopian staff in a push - do not shame the financial world. And I ask you to delete my account or tell me, step by step, how I can do it myself
I ended up never making a deposit. They have been ignoring checking letters with my address for over a month. Lack of staff, as such. I especially liked that this company asked me to show them the check for gasoline, where my address will be. If someone around me is interested in this app, I would gladly cool off that person's mind by pointing out the amazingly stupid and unprofessional work of your company! this app👎

by Jabe3378

I would recommend that you stay away from this app. I started using this trading platform because a member of my trading group was asking about it. The spreads on the platform are greater than others that I've used. It triggers stop-loss far before the currency pair reaches the level. In addition, customer service is horrendous. You get redirected multiple times because no one is trained to help with a simple problem. When you do speak to a supervisor, they would make promises that they will not keep. Out of the four other platforms that I've used, this is by far the worst. Also, fun fact, you cannot withdraw funds on the mobile app. They're probably trying to restrict the ease for people to leave the application.

by PropG

I love this app but this is a quick view of my recent experience;
From day one back in January of 2017 when I downloaded OANDA after a couple of months of searching for the best broker that fit my wants and needs, account size and most importantly a regulated broker, I have liked the ease and access to the this app platform.
Trading went good with the platform but in the past two months I’ve noticed that some of my positions’ stop losses would deactivate while I was asleep... I haven’t caught it during the day but there’s been a few times, probably around 4 or 5ish times, where after waking at 3:45am and quickly checking the charts before the London open, I see that price action is passed my stop loss. Another one happened last night where I entered short and had a comfortable sl at 60 pips but after waking up this morning and seeing that my trade had closed and pa hasn’t been anywhere near my sl.., this makes me VERY suspicious!

by Piss3d00F

Before using OANDA, please be aware that their withdrawal process is seriously flawed. OANDA DOES NOT allow you withdrawal your own funds. You have to go to the website to do that. To make matters worst, the website said that I didn’t have ANY funds in my account, which couldn’t be any further from the truth. It took almost a week for this app to perform a card payment reversal so that I could get my money back (this did not include the amount that I made from trades... that amount was locked in the account). They tried to get me to do a bank transfer which costs $20. This fee would be deducted from my earnings so I cut my losses and decided to never do business with this organization again. Trading in OANDA is not worth the headache.

by Fufufigkflfkv

Overall I have to say that I like OANDA, it has indicators you can use to put on the chart and you can start and stop trades too. My complaints are that it’s glitchy a lot when it comes to modifying trades. If I’m not in an open trade I almost always have to cancel an order and reopen it again because it won’t modify the trade 9 times out of 10. This is super annoying when your at work and OANDA is the only thing you have access to to modify a trade with. Some of the indicators leave much to be desired and you can’t zoom in very well on the chart. Many times I’ve tried but OANDA just crashes. In the end I would say that it needs a lot of improvement but it’s not a horrible app either, it does what you need it to do most of the time with a few exceptions.

by Hawkeye108

User experience between the various apps is so different that it is difficult to establish a consistent strategy between devices. Example: 29% of men have some form of color-blindness, and 6% of women have similar visual acuity issues. The ability to change candle and other colors to one’s needs becomes essential. We have written a number of times without reply. The option is available on the web version (sometimes) but the iOS mobile version is either non-existent or well hidden. We suspect they are overwhelmed and under staffed.

by Meriota

I have searched OANDA top and bottom and have yet to find a way for the user to be able to withdraw money from the trading account. This may just be a problem with iOS or the mobile app but I’m not sure because I only use OANDA on my phone (iPhone XR). There is only an option to “Fund” your account but if you have a very successful trade you will not be able to withdraw any money. This is a big issue but it’s the only issue I have with OANDA.

by Extraordinary Trading

With the latest update, the price signal alert is visible but not audible. Also, all of my drawings were erased. 🙁The quotes in the upper left corner of the chart freezes for long periods of time although you can see the rate updates along the ‘y’ axis. This issue started about a week ago (prior) to the update. I am happy to see that the profit target notifications are once again audible. Aside from these issues all seems to be well with the latest update.

by Zeoma

Great app, more convenient that what I’ve seen except FXCM that is no longer available in US. Love the ability to hide the rates or the account activity window on the left. Also love the free floating readjustable movable charts. One frustration tho, I organize my charts in order by the pair names into double columns. But when I close OANDA , it scatters the pair all over, it does keep the two column structure. Please fix this. Also love the ability of visually setting the order and stop loss and take profit right on the chart👍. Very pleased with the design, love the platforms colors. Oh one on other thing, I use this on iPad Pro 2020, on when the charts are expanded to full screen it’s difficult to change the time frame when it’s around 30-4h it’s difficult to activate the scrolling since it has that dock bar overlapping it. Please come up with some kind of fix for that but don’t change the actual manner the time frame is changed, I really like this slider compared to drop down menu on other platforms. Also there would be a lot more data displayed, it only displays couple months of data on 4H, wish it was at least half to a year.
Also would love to see an ability to create custom colors on the charts and drawings instead of just fixed preset colors. Eager to see feature improvements. Keep up good work.

by Jason119

OANDA is great. Most of the features are well thought out.

Please add the ability to change font sizes.

And also please add the option to turn off all the flashing updates on prices. The constant flashing is like being in a casino. All this does is tempts people to buy and sell. It just creates FOMO. It would be fantastic if there was a way to eliminate all the flashing casino lights.

by Ianthetechie

this app's entire trading system is very solid, and it's great to be able to manage things when I'm away from my computer.

My biggest complaint is that in the iPad version, the controls are horribly unintuitive. You can’t just switch what pair you are viewing. They tried to get cute with a scrolling dashboard of charts, and it is very difficult to manage. Also the tap targets are poorly placed at the edge of the screen so certain things are nigh unusable on the iPad Pro.

by ODR956

I use TradingView for charting and then use my brokers app for placing the trade so I don’t use OANDA to look at a chart but, is not a bad app it could be a lot better, for example: I can’t move the chart in my desire direction I just can moving backwards and forward or from far I can bring it closer they definitely need to put in OANDA if you want to move it UP or DOWN that’s very necessary.

by Lleader

I like OANDA very much... been using it for about 2 years .... I would like to see the daily highs and lows for each pair incorporated somewhere (FXCM is able to accomplish) also ....app tends to drag or delay when changing time frames... While viewing the chart ...I would like to be able to select which price line to view.....bid or ask ..currently it’s an average of both. The colors and graphics are nice ... great job

by Treen Snap

The application has worked well for me this far and I like the interface that allows for floating charts and easily setting take profit/loss. There does seem to be an issue with the notifications as I signed up for market updates and price alerts and I didn’t get the notification. However, I do receive the notification for when a trade/order is closed.. Overall very well constructed.

by Dankdaddyman

Love this platform, never have any lag issues. OANDA performs very smooth. I quit trading from my laptop just because of OANDA. It’s really awesome. But there is a catch, there is not a large amount of indicators available. They are very basic in that field. There’s is a good selection of different chart types to pick from which is nice, except they don’t have Renko :(
I love the simplicity and ease of use. I am a minimal price action trader so OANDA performs perfectly for me. I prefer it over TradingView and MT4

by Asgardtx

The ability to set price signals and alerts helps me trend to other things and take action when my pre-determined conditions are met.

Learning curve on how to apply and use overlays and indicators took a while but after you learn how to do it, no issues moving forward.

by DynamicSagitarius

OANDA is good. However, the tools I have an issue with. For my trading style, the tools that I require are there but they are not customizable. For example, I use fib retracement very heavily. Unfortunately I cannot customize the fib to my way of use when I apply it. The only thing I’m able to do with it is change the color, but not remove lines that I don’t want to see in between. Also, the indicators that are there are useful buy not the ones I’m looking for. It needs to have Volume Average indicator. As a day trader, volume is important for me to show the average of a trade. Again, OANDA is good, but it can be great.

by SuperTason444

After trying Thinkorswim, MT4 and TradingView, I use the Advanced Charting provided by this app in all my tradings. this app provides the same clean platform available in TradingView without any subscription limitations. The only recommendation to ONDA developers is to keep the price alert feature across all mobile devices. At this point, price alerts are only available in OANDA for the iPhone. Thanks in advance.

by Coastalwave

The most recent update to OANDA often crashes right after submitting an order. That’s merely annoying in demo but causes real anxiety when trading a live account. You fixed the minor detail about not showing available units in the prior update, how about setting the programmers to fixing the crashing?!?! Thanks. Once this issue is resolved the rating will go back up to 5 stars!

by Hibya

It’s an excellent app - but if something big happens - then one will need a button to close all open positions at the market (and cancel stop-loss and take-profit orders). Also, why do selections on the iPhone not sync with the iPad version? Also, why not include prices from all of the markets that you cover? Just because American clients can’t trade CFD’s and precious metals doesn’t mean it isn’t helpful to see as many markets in the same place at one time. Please consider putting them online for risk reduction, reference, and charting purposes. A very good app but it can always be better. Appreciate your excellent work! Love this app.

by K. Ross

OANDA has everything I need. The charts, the ease of making and modifying trades, setting trailing stops, default trade settings...I like it all. But I’m still learning and the demo acct doesn’t keep a running total of profits/losses. It just always shows the max starting balance. As a new trader, it would be extremely beneficial to have a fully function demo acct.

by Ngw26

This is app is the first one I've ever used for forex. My company uses this app for the exchange rates, so when I saw OANDA, I went straight to it. It's intuitive and fun, with great trading features. I wish my brokerage account had the same simple functionalities! Disclaimer...I've been way up and way down already. Today's happy review comes after a day of being up.

by Icybaker

I have had a good experience using OANDA on both iPad and iPhone. I’m using a relatively old iPad so it’s a bit slow but that’s to be expected on an app requiring the sort of processing OANDA most certainly does. On iPhone no issues at all. Not a substitute for a desktop environment, but great for monitoring in the background or on the go.

by This Nickname Us Already Taken

Many times I’ll place a trade on my laptop/notebook, walk away and keep track of it through their app. Their app has successfully kept me in the green when I see the need to exit out of my positions. Can’t wait to see what this app has in store as time goes along. Great job this app team!