Oanda forex broker review

Review of Oanda Forex Brokerage
Main features
1. Minimum opening deposit is not there
2. Custom lot sizes
3. You can trade directly on charts
4. Custom newsfeed
5. Demo accounts for practice which will never expire
6. Sub accounts
Least liked features
1. No hegding
Demo accounts
The demo account of Oanda is just similar as the live account. It maintains same price feed for both demo and live account which will never expire.
Customer service
There are many types of customer service options in Oanda such as chat, Email and phone. The customer care persons will reply to any doubts of customers with responsibility in all the 3 methods. Among these the Email support will take up to 24 hours to get reply.
Spreads
There are various types of spreads provided by Oanda which varies depends to the conditions of the market. Almost all trends of Oanda are very competitive in the normal market conditions. Suppose you are trading directly on major news release then spread jumping can be a problem for you in some cases.
Leverage
The main speciality of Oanda is it allows only 50:1 leverage. Most traders will consider this type of disadvantage. Also we can see that 50:1 leverage is enough for making forex trading. If the leverage set at a value of 100:1 then it can be a dangerous factor which can make over sized trades.