OANDA

OANDA Global Markets is a regulated forex and CFD broker that offers trading services to clients in Asia, the Middle East, and Latin America. This is not the same as OANDA’s US or Canadian operations. OANDA Global Markets is authorised and regulated by the British Virgin Islands Financial Services Commission (BVIFSC) and operates under different trading conditions to its North American counterparts. Most notably, it offers high leverage (up to 1:888 with tiered margin) and access to a wider product range.

Clients can trade on MetaTrader 5 (MT5), MetaTrader 5 Web, OANDA’s own fxTrade mobile app, or connect their account to TradingView. Instruments available include forex pairs, global indices, commodities, metals, and cryptocurrency CFDs. 

OANDA Global Markets offers meaningful leverage—up to 1:888—which sets it apart from more tightly regulated brokers in Europe and North America. This level of leverage can be particularly attractive to traders in the regions where the broker is active, especially those looking to trade major currency pairs or indices with greater market exposure.

OANDA offers a choice between a spread-only account and a commission-based account with tighter spreads, which allows traders to align costs with their trading style. It also integrates with TradingView, making it easy to trade directly from advanced charts.

We also like the fact that cryptocurrency CFDs are available. Traders can go long or short on popular coins such as Bitcoin and Ethereum, all from the same account used for forex and indices. While not unusual, it’s still a useful addition for those who want to diversify within a single broker.

Educationally, OANDA Global Markets provides solid resources. The OANDA Lab offers tutorials, market insights, and webinars, which are especially useful for traders who are still learning or want to stay informed on market developments.

The biggest drawback is that OANDA Global Markets does not offer negative balance protection. This means that in the event of extreme market movements, clients could end up owing more than they deposited. Given the high leverage available, this is a risk that traders—particularly beginners—need to be aware of and manage carefully.

As a variable spread broker, OANDA’s spreads can widen during periods of volatility or lower liquidity. For example, spreads on major indices can vary from competitive to relatively wide, depending on market conditions. While this is typical for variable spread brokers, it may frustrate traders who are cost-sensitive or trading at high frequency.

It’s also worth noting that copy trading is not supported. Traders looking for social or automated strategies will not find those tools here. Likewise, OANDA’s proprietary web platform, while functional, is relatively basic and lacks some of the advanced features seen on platforms like cTrader or MetaTrader 5.

OANDA Global Markets is a well-regulated broker with a long-standing reputation, offering high leverage and access to a wide range of markets. It’s a sensible choice for traders based in Asia, the Middle East, or Latin America who are looking for a broker with strong regulatory credentials and flexible pricing models.

The lack of negative balance protection and absence of copy trading features may be off-putting for some, but for self-directed traders who manage risk effectively, OANDA Global Markets remains a reliable option. The inclusion of cryptocurrency CFDs, TradingView integration, and multiple account types adds further appeal.

This is not the cheapest broker, nor the most feature-rich, but for many international traders, it offers a solid, transparent trading environment backed by a globally recognised name.