For beginners,Oanda has many advantages。Here are some of the most important aspects to prove it。

Oanda is one of the most popular brokers in the United States and around the world.。As a pioneer in online trading, OANDA has enough clout to attract novice traders。However, is Oanda a good broker for beginners？

Beginners friendly, OANDA is completely legal, with a popular trading terminal, cheap transaction fees, 24-hour support, easy deposit and withdrawal, and a wealth of educational resources。Here are the details of how OANDA ticks all the right boxes to launch your trading experience。

What is a good broker for beginners？

More and more people want to participate in the financial markets as investors or traders。However, while exploring the basics, it is easy to be overwhelmed by the wealth of knowledge available online。Therefore, we must first examine what is a good broker for beginners。

There are many factors to consider when evaluating the services of a broker。But a novice-friendly broker should have at least the following seven (7) Features:

Official licence of the country in which the broker operates。

Convenient mobile and desktop trading platform。

cheap cost。

Exceptional Customer Service。

Low deposit requirements and simple withdrawal process。

Direct registration process。

First-class educational resources。

Some may be looking for other specifications, such as automatic radiation and the availability of various instruments。However, novice traders should not pay attention to these。Based on the seven criteria we have established above, let's dig deeperOANDA。

OANDAOkay.7A reason (and a high degree of trust!)

1.Legitimacy

OANDA is regulated by a number of prominent bodies, including the National Futures Association (NFA), the Commodity Futures Commission (FCA) and the Financial Conduct Authority.。To support its global activities, OANDA also has licenses from regulators in Singapore, Canada, Malta, Japan and the British Virgin Islands.。Legally, we can say unequivocally that Oanda is a good broker。

2.Trading platform

There are three types of trading platforms available:Proprietary fxTrade applications for Metatrader4, Metatrader5 and OANDA。The popular Metatrader4 and Metatrader5 are available on all devices, providing all the tools needed by beginners and experienced traders。

OANDA's fxTrade app provides access to all your accounts in one place with just one click of login and works seamlessly with Metatrader5。The 2020 Investment Trends US Forex Report awarded the app the highest mobile app satisfaction and third-party integration, which traders praised.。You can get it on PlayStore and AppStore。

3.Transaction costs

OANDA excels in some areas, but there are also some rare fees, which may make it more expensive than its peers。You must pay attention to this carefully to avoid disadvantages and optimize your withdrawals。

OANDA's low foreign exchange fees - core pricing spreads from 0.Starting at 1: 00, $40 commission per million dollar transaction。This means that OANDA is suitable for swiping orders and day trading.。They don't charge anything for the first monthly withdrawal, so you can withdraw profits regularly。

On the downside,OANDA charges higher fees for CFD transactions and bank transfers。There's also an inactivity fee that could drain your balance if you're away for 12 months or more。

4.Customer Service

Oanda does a great job with customer service。Multiple contacts, including but not limited to web, phone, email, and live chat。Customer support teams are on call 24 hours a day from 1pm on Sunday to 6pm on Friday ET。

5.deposit and withdrawal

OANDA does not require a certain amount of money as a minimum deposit。You only need to make up the balance according to the volume of transactions you intend to make.。In theory, you can even deposit $1。For beginners, this is undoubtedly a very good term for Oanda。

There are several ways to fund your account and withdraw funds, including:

Credit and Debit Cards

Bank wire transfers and bank transfers

Skrell

Neitler

Alternative payment methods for selected countries in Southeast Asia, Latin America and Africa。

Withdrawal rules are no different from other online brokers。OANDA returns all funds to the source, which means that if you deposit by bank transfer, then you must also withdraw by bank transfer。Procedures and fees may vary depending on your jurisdiction and preferred payment method - please log on to your customer portal or contact the support team for more information。

6.Register

OANDA management itself may want to streamline its registration process。However, US law requires them to establish a fairly strict registration process (AML, KYC and a whole bunch of other stuff).。You can open an account in less than 10 minutes, but account approval usually takes a few days。You'll also have to email some verification files instead of uploading everything online。

The following is inStep-by-step guide to opening an account on OANDA:

通过OANDA website application account。You must be at least 18 years old and a citizen of the country where you are applying to be eligible to apply。

Verify your identity and address by scanning several original documents, including but not limited to: passport (preferred) or national identity card (front and back), and bank statements for the account you plan to use to fund the account。Additional files may be required in some cases。

Pending Approval。This usually takes from an hour to three working days。

7.educational resources

OANDA provides all necessary resources to launch a successful trading career; including a demo account, trading platform tutorials and educational content。They also conduct frequent seminars, advanced webinars and live market analysis。Visit the OANDA website to register for upcoming events。

If you happen to live in certain countries, the registration process may be a headache for you, but once approved, you will be able to enjoy unparalleled features。If you are still not sure, please openOANDA Demo Account Trial。

OANDA is an award-winning broker with a reputation for excellence in the trading industry for over 25 years.。The broker supports superior customer service and transparent pricing on the most advanced platform。