OANDA Review Australia 2026

OANDA quick facts

Trading costs and fees

Standard account, spread-only pricing

The Standard account uses spread-only pricing with no commission line. Our May to June 2026 standard-account capture measured OANDA at 0.99 pips on EUR/USD but 1.97 across the eight pairs, the widest average of the 21 standard accounts we benchmarked; EUR/USD is clearly its strongest pair. The table below uses OANDA’s advertised typical figures rather than our capture, which is why its EUR/USD line reads higher than the 0.99 pips we measured. See how the whole field compares in the lowest-spread comparison.

Premium pricing for AUD 10k+ balances

Premium pricing splits into two separate AU accounts. To qualify for either, you need a balance of AUD 10,000 (new clients within the first 30 days, existing clients over the last 60 days), or more than USD 30 million in notional trading volume within 3 months. Premium Spreads is spread-only, with EUR/USD from 0.2 pips and no commission. Premium Commission pairs spreads from 0.0 pips with a commission of AUD 2.75 per standard lot per side (AUD 5.50 round turn).

Raw pricing, commission plus raw spread

OANDA’s Raw account targets active traders: raw spreads from 0.0 pips plus a commission of AUD 3.50 per standard lot per side (AUD 7.00 round turn) on forex and metals, matching Pepperstone Razor on commission. Our July 2026 capture put EUR/USD at 0.20 pips on the account, so the all-in cost lands around 0.66 pips equivalent at AUD/USD 0.65.

Pepperstone and IC Markets figures use our May to June 2026 measured EUR/USD averages plus each broker’s commission converted at AUD/USD 0.65. OANDA Raw uses the same conversion on a July 2026 capture, the account having launched after that window.

Other fees AU traders should check

• Overnight financing applies to CFD positions held past 5 PM New York. Direction-dependent.
• A currency conversion markup applies if you trade an instrument in a non-AUD base.
• The inactivity fee is USD 10 per month after 12 months of no trading activity.
• Withdrawal fees are generally $0 on AU methods.

Trading platforms

OANDA Trade (proprietary)

OANDA Trade is the broker’s in-house platform and runs on web, desktop and mobile. Years of refinement show: charting is clean, order types are properly integrated, and OANDA’s research and currency data are built into the interface. It also supports guaranteed stop-loss orders (GSLOs), a real risk-management edge you won’t get on MT4, MT5 or TradingView.

MetaTrader 4

MT4 is available on the Standard account and is the right pick if you run legacy expert advisors.

MetaTrader 5

MT5 is also offered, with multi-asset class support beyond MT4’s forex/CFD focus.

TradingView native integration

This is one of OANDA’s strongest features. The integration is native, so a TradingView Pro or Premium subscriber can connect an eligible OANDA account and place orders straight from the TradingView charts.

API access

OANDA’s REST and streaming API is one of the better-known retail-accessible APIs in forex. Algo developers have used it for years, and it sits behind plenty of custom dashboards and bespoke risk tooling. Documentation is solid.

Mobile apps

Both OANDA Trade mobile and the MetaTrader mobile apps are supported. Biometric login is available on iOS and Android in OANDA Trade.

Trust and safety

Trust score: 10/10.

ASIC regulation and global licences

OANDA Australia Pty Ltd holds AFSL 412981 with the Australian Securities and Investments Commission. The AFSL has been continuously held since around 2010.

Globally, OANDA holds:

• CFTC/NFA, USA, Tier 1
• Financial Conduct Authority, UK, Tier 1
• Monetary Authority of Singapore, Tier 1
• Canadian Investment Regulatory Organization, Tier 1
• Japan Financial Services Agency, Tier 2

The dual ASIC and CFTC standing is the rare part: very few brokers in the world are retail-regulated in both Australia and the US.

Client money and negative balance protection

OANDA holds retail client money in segregated accounts at an Approved Australian Bank, separate from the company’s own funds. ASIC requires negative balance protection on retail CFD accounts, so a retail account cannot lose more than the money in it. If a dispute with the broker goes wrong, AFCA can hear claims up to $1,263,000 and award compensation up to $631,500. The Compensation Scheme of Last Resort sits behind that with a $150,000 cap, but it excludes CFD trading losses, so it protects you against unpaid awards for misconduct, not against losing trades.

For where OANDA sits against the field on protection, see how AU brokers rank on safety and our explainer on the negative balance safeguard.

History and ownership

Founded in 1996 by Michael Stumm and Richard Olsen as one of the first internet-native currency businesses. The broker is best known to non-traders for its currency converter, which is among the most widely used FX reference tools in the world. OANDA was acquired by CVC Capital Partners in 2018 and remains under CVC ownership.

Public reviews

OANDA holds a Trustpilot rating of 3.6 out of 5 from 1,224 reviews, which Trustpilot labels average, captured July 2026. The profile has been claimed by the broker since February 2022.

Users tend to praise the regulatory pedigree, platform stability and API quality. The recurring complaints are spreads on the Standard tier and customer service response times during peak periods.

What other review sites say

OANDA's iOS app rates 4.65 out of 5 from 1,085 ratings on the Australian App Store (July 2026), listed as OANDA - Forex and CFD trading.

TradingView users rate OANDA 4.5 out of 5 from 32.1K reviews (July 2026). TradingView named OANDA its Broker of the Year 2023.

App Store AU

4.65

1,085 ratingsJuly 2026

TradingView

4.5

32.1K reviews308.6K Traders via TradingViewJuly 2026View on TradingView

Account types and minimum deposit

Account options for AU clients

OANDA runs Standard, Premium and Raw pricing in Australia. Standard opens on a $0 minimum. Premium is an eligibility tier, not a separate platform: it unlocks at an AUD 10,000 balance or high notional volume, and its spread discounts sit in the costs section above.

The AUD 10,000 balance test for the Premium tiers applies over the first 30 days for new clients, or the last 60 days for existing clients. An unlimited demo with AUD 100,000 in virtual funds features in our demo account comparison alongside the broker’s research suite.

OANDA does run a swap-free (Islamic) account, but not one an Australian resident can open, confirmed with the desk in July 2026. This is worth knowing before you apply rather than after: the product exists on the group’s global sites, so it is easy to assume it carries across to the AU entity. It does not. If Sharia-compliant trading is a hard requirement, OANDA cannot serve it here.

OANDA also runs two professional tiers in Australia, both onshore under ASIC. Professional lifts leverage to 200:1 on selected forex pairs and indices and 100:1 on gold, and adds a hedging account, a one-to-one relationship manager, subsidised tool subscriptions and a PRO welcome bonus of up to AUD 5,000. Professional Plus extends leverage to 300:1 on selected forex pairs and indices, 200:1 on gold, 100:1 on oil and 10:1 on Bitcoin, and adds volume-based rebates. Eligibility criteria apply to both.

Minimum deposit

OANDA’s minimum deposit is $0 on the Standard account, so you can open and fund it with any amount you like. The Raw account’s minimum is not published. The Premium tiers are gated on an AUD 10,000 balance or more than USD 30 million in notional volume over 3 months, which is a qualification test rather than a deposit.

Funding and withdrawals

Deposit methods (AU clients)

Withdrawals

$0 fee on standard withdrawal methods. OANDA requires withdrawals to use the same source as deposits where possible.

Account opening

Account opening is fully online and AUSTRAC-compliant. Most AU applications are approved within 24 hours. Test onboarding score: 11/15.

Product range

OANDA is a currency specialist and the product range says so: 70+ forex pairs out of under 150 instruments in total, the narrowest range of the raw-account brokers we cover. That is a decision rather than an oversight. For how the classes work and who leads each of them, see our guide to CFD markets.

What is missing matters as much as what is here. Share CFD coverage is narrow next to CMC, IG or IBKR, and there is no direct ASX share investing at all; every equity position is a CFD. The bond CFD list is short and covers US Treasuries. Crypto is a limited offering, so this is the wrong broker if crypto range is what you are shopping for. The ETF list is limited too.

Gold and metals

Gold trades as XAU/USD next to silver on every pricing tier, and the Raw account’s AUD 3.50 per side commission covers metals as well as forex. ASIC’s 20:1 retail cap applies to gold. Metals are not part of our measured capture at OANDA, so we do not quote a tested gold spread here. For how the class works across the AU field, see our guide to spot gold CFDs.

Indices and commodities

The index list covers the ASX 200 plus the global majors, and the commodity set runs WTI, Brent, natural gas and a handful of softs. Neither list is deep; OANDA’s range decision is currencies first, and the table above shows where the coverage stops. See index CFDs compared and energy and agricultural CFDs for how each class looks across the field.

Leverage for AU traders

OANDA applies the ASIC caps identically across Standard, Premium and Raw pricing; the tiers change spread, never leverage. The two professional tiers covered under account types are the only route here to anything above the retail ceiling.

ASIC caps retail CFD leverage at 30:1 on major forex pairs, 20:1 on minor pairs, gold and major indices, 10:1 on commodities other than gold, 5:1 on share CFDs and 2:1 on crypto assets. The caps come from a product intervention order that ASIC has extended to 23 May 2027, so they apply at every ASIC broker, not just OANDA. OANDA offers higher leverage to clients who pass the eligibility tests for its professional tiers: up to 200:1 on selected forex pairs and indices on Professional, and up to 300:1 on Professional Plus.

ASIC requires every CFD issuer to close out a retail client’s positions once account equity falls below 50 percent of the total initial margin on all open positions. The rule is set by the product intervention order and applies to OANDA the same way it applies to every ASIC-licensed CFD issuer. Positions cannot be netted off against each other to reduce that figure, and a gapping market can close a position below the 50 percent level.

If you are weighing that trade-off, read the mechanics of leverage first, then our high leverage broker rankings.

Customer service

Phone, live chat and email. Hours: 24 hours, Monday to Friday Sydney time, closed across the weekend. Average live chat response in our testing: roughly 90 seconds during AU business hours.

Research and education

Education content

• Beginner course covering forex, CFDs and technical analysis basics
• Webinar series with OANDA’s in-house analysts
• Glossary of trading terms and a clean introductory guide to the OANDA Trade interface
• YouTube channel with regular FX analysis and platform walkthroughs

The education stack is part of why OANDA carries an honourable mention in our beginner forex brokers in Australia guide.

Market research

OANDA’s research stack leans heavily on its currency heritage. Highlights:

• MarketPulse, OANDA’s in-house FX news and analysis hub
• Currency converter and historical rate data (the most-used currency tool in the world by daily users)
• Real-time spread data published openly on OANDA’s website
• Economic calendar and news feed integrated into OANDA Trade

How OANDA compares to alternatives

No broker wins on every axis. The table below points to the brokers we would pick for a specific priority; for the full field, see our best forex brokers in Australia guide.

Should you open an account with OANDA?

Open an OANDA account if you want a forex specialist with AU operations since 2010, a strong API and TradingView built in. Skip it if the Raw account’s 0.44 pip tested average matters against the tightest raw brokers, or if you trade anything much beyond currencies, because under 150 instruments is the smallest range in this cohort. Fusion Markets wins on cost and CMC Markets on breadth. A demo covers OANDA Trade and the MT platforms.

Open an OANDA demo → (affiliate link, see our advertiser disclosure)