Oanda Review.
Oanda offers an exceptional, easy-to-use trading platform and requires no minimum deposit to open an account.
Tim Fries.
Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University .
Shane Neagle.
Meet Shane. Shane first starting working with The Tokenist in September of 2018 — and has happily stuck around ever since. Originally from Maine, .
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Oanda is a globally recognised, retail trading platform, currency data and analytics company. The company was founded in 1996 by Dr. Michael Stumm, and now operates across the globe in over 196 countries.
The broker is regulated by 8 top-tier entities, including the U.S., UK, Australia, Canada and Japan.
Oanda’s award-winning technology and execution across a wide selection of asset classes, enables customers to trade currencies, including commodities, equity indices, and precious metals.
Fast Facts.
Account Minimum: $0 Regulation: FCA (UK) and CySEC (Cyprus) Demo Account: Yes Asset Coverage: Forex, commodities, indexes, and certain CFDs only Best for: Experienced traders Inactivity fee charged: Yes, after 2 years Country of regulation: USA, Australia, Canada, Singapore, Japan.
Ratings.
Commissions & Fees: 9/10 Investment Selection: 9/10 Account Options & Features: 8/10 Usability: 8.5/10 Educational Resources: 8/10 Customer Service: 7/10 Overall: 8/10.
Investor Warning: CFDs are complex financial products and come with a high risk of losing money. 76.8% of retail client accounts lose money trading CFDs with this provider.You should consider whether you can afford to take the high risk of losing your money.
Under the acquisition, the company will continue being led by Chief Executive Officer, Vatsa Narashimha, who was a pivotal figure in the growth of the business.
Senior Managing Director at CVC, Siddharth Patel said: "This is an exciting opportunity to invest in a leading global player with a consistent track record of growth and a highly cash-generative business, in a sector known well to CVC.”
Minimum deposits from as little as $1 Considered safe and is regulated by top-tier governmental regulatory bodies Stellar, easy-to-use trading platform Generally low fees Access to a large number of currency pairs and other asset classes.
Access to forex and certain CFDs, but no access to cryptocurrencies Customer service team is knowledgeable but slow No negative balance protection on accounts.
Overview and Summary.
Oandas most important aspects:
Oanda is a globally recognised, retail trading platform, currency data and analytics company, founded in 1995 by Dr. Michael Stumm. Oanda is regulated in six tier-1 jurisdictions, and is considered a safe broker for trading forex and CFDs. Oanda overall charges low fees, although their EUR/USD pair is higher than competitors. Oanda’s research is top class and hits all the right points to create a high-quality well-rounded offering that includes expert economic analysis, live news feeds, calendars, and progressive data analytics. Oanda has a good selection of markets including bonds, indexes, commodities, and forex. But they are limited in certain categories. Oanda provides 24/7 customer support, but their live chat and mobile support is only open Monday to Friday from 1:00 to 6:00 ET, which is narrow and inconvenient for most.
Is Oanda Safe? _
Oanda is considered safe and is regulated by top-tier governmental bodies, such as the Financial Conduct Authority (FCA) in the UK, the U.S. Retail Foreign Exchange Dealer (RFED), the U.S. Commodity Futures Trading Commission (CFTC), and the Investment Industry Regulatory Organization of Canada (IIROC), among others. The firm also has a proven record of being transparent and disclosing its financial records.
While the firm is registered with an impressively large amount of overseers, the firms protection of traders in the event of an account default is limited.
OANDA Market Insights ___
Oanda offers a market insights podcast from its very own market analyst Craig Erlam, who has over five years experience working as both a financial market analyst and trader.
Craig offers insights on technical and fundamental analysis, while conducting commentary from a macroeconomic perspective.
In the Year in Review podcast Craig, together with Panmure Gordon’s Chief Economist Simon French, and Economist Francis Coppola talked about 2019. financial markets.
In it, Craig discusses what he believes to be a certain kind of inertia in regards to BREXIT “and the rest”, and a sense of time wasted. _
One of the defining features of the last 3 and a half years is that business investment has underperformed its long term trend in the U.K economy. This, allied with a poor improvement in the UKs balance of payments in trade, means that the UK has probably forfeited over that period of between 2-3% GPB.
So, the question to ask he suggests is; "how much recent political events will lead to a catch-up in that demand, or has some of that demand, or the majority of it been lost forever."
The British Fatigue _____
The podcast discusses the public’s sense of feeling fed-up with the ins and outs of the Westminster bubble, BREXIT fatigue, and whether or not that helped the conservative party win.
They suggest that people didn’t feel a sense of outstanding support, but instead, more a sense of ‘let’s just get this over the line and be done with’. People may have got caught, or lost in the noise, when it wasn’t that simple.
The analysts went on to discuss the possibility of there being a common sense of right—perhaps people felt like they’d made their beds and now they had to follow through with it. Ignoring that the economic consequences of this train of thought will stay with the U.K for a long time to come.
Craig refers to the amount of time that he’s had to tell clients that he didn’t know the answer. He says that the difficulty in the situation is that although the UK voted to leave the EU, they didn’t vote how to.
__ Are you a UK-based forex trader? Here are some leading forex trading platforms in the UK.
The Economic Cold-War _
The analysts go on to discuss oil prices, and the shift that’s taken place. Craig states that it’s crucial to look at the last four years to see where the shift has come.
The effect that the Economic cold-war is having is mentioned, the battle between two economic powers in the world, China and the U.S and their constant battle for hegemony. The initial public obsession that Trump was hand in hand with Putin has died, they observe.
Why is There No Market Effect? _
While this is all quite substantial stuff, none of it has really affected the markets.
Craig suggests this is because the market performance in 2019, for example, the equity market’s response, was driven by the Federal Reserve, not the White House, and that most investors concluded they are guessing in terms of the next move; both in terms of the president and the impeachment, because it [the impeachment] likely won’t even go to full-term.
In terms of risk assets, the Federal Reserve has cut interest rates 3 times this year, and that’s enough to reallocate towards risks, and away from the fears that really stalked the market back in 2019.
Proceed with Caution _
The team concluded that the scale of the electoral victory means that Borris Johnson will likely be safe for 5 years, and in that environment businesses can plan with a degree more certainty, but not complete certainty, take caution.
There remains significant structural difficulties with UK economy, from low productivity to structural deficits on both the trade and fiscal side to try and manage, which means that the economic political risk factor has dialed down for investors.