Oanda is one of the greatest forex brokers on the market, let's see how they perform in 2022 and their plans for 2023。

Founded in 1996, OANDA was the first company to share exchange rate data on the Internet, completely free of charge to the public.。Five years later, Oanda launched an Internet-based currency trading platform that allows traders to enter the market and open positions at prices as low as $1.。Today, OANDA is the world's leading platform for multi-asset trading, market analytics and monetary data services for retail and enterprise customers around the world.。

Oanda's success will continue in 2022。Despite the current challenges of uncertainty in the global economy, OANDA has successfully made various improvements and introduced a series of new features last year.。Let's get to know it all。

Point spread reduction for multiple tools

Fairness and transparency are top priorities for OANDA, especially when it comes to costs and fees, so the company always announces fees in advance so that customers know exactly how much they will pay when they trade with a broker.。

OANDA is known for offering low spreads and low commissions, but the broker decided to further reduce spreads and commissions in 2022.。These changes apply to the following tools:

Index

Indexes cannot be bought and sold directly at OANDA, instead you can trade them as CFDs whose value is derived from the price of the underlying asset。You can choose to trade multiple indices such as the US Wall Street 30 and France 40。In 2022, Oanda decided to reduce the average and minimum spreads of most of the indices it provides.。

Precious Metals (Gold)

Due to its relative price stability, gold is often referred to as a safe-haven commodity, so it is often used to hedge against extreme price fluctuations or fluctuations in the dollar market.。In addition, gold is one of the most traded commodities in the world.。Today, you can trade gold in OANDA with an average spread of $30-35, which is quite low compared to other brokers in the market。

Cryptocurrency

Using the MetaTrader 4 and MetaTrader 5 trading platforms, you can trade 13 popular cryptocurrency CFDs directly from your PC, phone or tablet device。Last year, OANDA decided to reduce the spread of these cryptocurrencies:

• Bitcoin: $80
  Ethereum: $5
  Bitcoin Cash: $2

New Cryptocurrency Pairs

Initially, OANDA offered 13 well-known cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, and Bitcoin。Not bad actually, because it already includes most of the large-volume cryptocurrencies on the market。However, for cryptocurrency enthusiasts, this may not be satisfactory enough。

As a result, OANDA added five new cryptocurrency pairs in 2022:

• AVAX / USD USD
• KSM / USD USD
• GLMR / USD USD
• SOL / USD USD
• MATIC / USD USD

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OANDA can be an option for traders looking for a precision broker。This is because OANDA is a broker that offers 5-digit accuracy quotes and active price movements that follow market developments.。The broker's orders are also executed faster。

It provides benefits for novice traders because they can use a calculation system based on currency value for smaller trading volumes, which is different from other brokers that use lot systems。

OANDA was founded in 1996 by Dr. Michael Stumm, Lecturer in Computer Engineering at the University of Toronto, Canada, and colleagues at The Olsen Ltd, one of the leading econometric research institutes..Dr. Richard Olsen co-founded the institution。Their headquarters are located in San Francisco, USA。

OANDA Branches Everywhere。Some of these offices are located in the UK, Singapore, Japan and Canada。With the distribution of the number of offices, OANDA increasingly attracts the attention of global customers。

OANDA's companies are registered in several well-known jurisdictions in the field of financial transactions。They are regulated by the US CFTC and NFA, UK FCA, Australian ASIC and others。Traders no longer need to worry about security when trading OANDA。However, these advantages make OANDA's trading rules more stringent than other brokers。

For example, OANDA only allows a maximum leverage of 1: 20 because the rules in the United States and Japan do not allow higher than that leverage。In addition, the registration process is more complicated due to various additional requirements that other forex brokers do not submit。Most importantly, hedging is not allowed in one trading account, as the client must open another account to hedge。

Nevertheless, OANDA is known as a leading broker and offers many advantages。OANDA faces greater market risk during periods of price volatility, such as economic and political news announcements。When market spreads increase or decrease, their pricing engine expands or narrows spreads accordingly。In this way, traders can be more quickly updated on market price movements。

Prices in the market move very quickly, especially when news releases have a large impact on market volatility。Brokers often exploit this situation to take advantage of clients by re-quoting。However, traders do not need to worry about additional fees when trading with OANDA。

Firms never withdraw re-quotes, so traders get maximum profit。When traders cannot monitor open positions, they can set take profit orders to lock in profits and stop loss orders to help prevent further losses。

As an experienced and well-known online forex broker, OANDA is committed to maintaining an efficient trading environment, reducing delays and providing tools to help clients manage acceptable levels of slippage.。

With OANDA's fast and reliable trading platform, customers can trade at 0.Execute within 012 seconds。This is suitable for traders who choose a broker based on execution speed。

Due to this outstanding executive service, it is no surprise that Oanda has won many awards, including the world's best retail forex platform award in the prestigious e-FX awards.。The broker was also rated number one for consistency in executing trades on quote, execution speed and platform reliability.。

There is no minimum deposit or minimum balance requirement to open an OANDA account, both deposits and withdrawals can be done easily。OANDA offers multiple payment method facilities including Paypal, wire transfer, credit and debit cards。Traders can adjust according to the region they live in。

OANDA offers more than 100 trading instruments, including 71 currency pairs, 16 indices, 8 commodities (Brent, copper, corn, natural gas, soybeans, sugar, etc.), 6 bonds and 23 metals.。

fxTrade and MetaTrader platforms available on OANDA。These platforms are available for desktop and mobile devices。Another advantage is that they have OANDA technical analysis in cooperation with Autochartist technical analysis provider。

With these platforms, customers can more easily monitor price movements and automatically identify patterns created on charts and receive alerts when waiting patterns appear。The technology can be used for free。

In summary, OANDA is the ideal broker for traders who need fast execution backed by years of experience.。The firm is also a good choice for those looking for a broker with good regulation and flexible trading and deposit conditions。

New stock CFDs

In addition to cryptocurrencies, OANDA has added equity CFDs products。You can now trade 816 European equity CFDs, including existing options and new equity CFDs from Belgium, Portugal, Finland, Denmark and Sweden, and you can visit their official website for a full list of available assets.。

New features of the FXTrade app

OANDA has supported mobile transactions since 2010, and in the same year, the first version of the fxTrade mobile app for Android and iOS was released.。fxTrade provides access to a variety of financial markets and trades a variety of instruments with low spreads and flexible lots。In order to enhance the trader experience, the company has made several upgrades and added new features, such as customizable charts, overlays, technical indicators, price reminders and more。Today, the app offers no less than 50 technical indicators, including 32 overlays, 11 drawing tools and 9 charts to manage your trades easily and effectively。

In 2022, the broker introduced a new feature called "Partial Closing," which basically allows traders to partially close any open positions in the application。To do this, the trader simply clicks the reduce button on the trade and specifies the number of units he wishes to close the position。

The idea is to set multiple profit targets in a position and partially close the position when each profit target is reached。As a result, traders can ensure a minimum profit per trade when closing positions in the first part and a larger profit when closing positions in the second part。

MT5 web version is now available

In addition to the desktop and mobile version, OANDA MT5 is now available for online traders, you can open real and demo trading accounts on the platform。It provides all the powerful features of the MT5 platform, including one-click trading, built-in market depth, advanced trading tools, improved functions, economic calendar, automated trading strategies, etc.。

Cryptocurrency trading services in the United States

OANDA is one of the few brokerage firms operating in the US, giving them an edge over other brokers in the market.。Recently, Oanda announced the launch of a new cryptocurrency trading product for U.S. traders, aiming to give people easy access to digital currencies and forex in a secure trading environment.。The trading service was developed in collaboration with Paxos Trust Company, a fully regulated blockchain infrastructure platform.。

In short, the new service allows U.S. traders to trade spot cryptocurrencies on Paxos's itBit exchange using the OANDA mobile platform.。All activities from account opening to financing and trading can be managed through the app, so traders can seamlessly trade on a single platform。

As institutional traders slowly but firmly enter the cryptocurrency world, cryptocurrency adoption may increase again in the near future。Given today's easy access and low barriers to entry, it is possible for retail traders to return to the cryptocurrency market again。Having said that, this launch is undoubtedly a huge opportunity for traders to gain exposure to cryptocurrencies in a safe and secure environment。

Best Customer Satisfaction Broker

In November 2022, OANDA was named Singapore's Best Broker for Overall Client Satisfaction for two consecutive years, based on Investment Trends' 2022 Singapore Leveraged Trading Report, Singapore's largest research report for retail investors each year.。The report discusses a range of topics, including a detailed analysis of trading attitudes, behaviour and needs of traders in Singapore.。Data reported in 2022, based on an online survey of 2,451 respondents, concluded in September 2022。

In addition to this, OANDA also won the best "value for money" and "email customer service" customer satisfaction awards at the same event, further demonstrating the broker's commitment and value to customers.。

Outlook for 2023

OANDA said that by 2023, the company plans to connect more with customers through dedicated customer relationship services and develop the best online trading experience possible.。They also highlight the need for analytics tools to help clients identify trading opportunities and navigate the online trading world.。

Conclusion

All in all, Oanda seems to be doing pretty well in 2022。OANDA has made various upgrades to their services to attract more active traders and meet their needs。OANDA'S VICTORY IN SINGAPORE SEEMS TO BE THE PERFECT WAY FOR THE COMPANY TO END THE YEAR。Although the future is still uncertain, it is clear that more progress can be expected from OANDA next year。

If interested, you can continue to visit the broker to create a new trading account。It is highly recommended to start with a demo account first to check the platform and get familiar with the features。When you are ready, you can switch to a real account and start trading with real money。

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OANDA is an award-winning broker with a reputation for excellence in the trading industry for more than 25 years, supporting superior customer service and transparent pricing on the most advanced platforms。