Oanda review

Oanda Review

Overall, OANDA is considered low-risk, with an overall Trust Score of 92 out of 100. OANDA is licensed by eight Tier-1 Regulators (high trust), zero Tier-2 Regulators (average trust), and two Tier-3 Regulators (low trust). OANDA is currently not regulated by the CMA of Uganda

Updated : July 7, 2022

Jump to:

Regulation and Safety of Funds

Account Types and Features

Account Registration

Trading Platforms

Range of Markets


Deposits and Withdrawals

Education and Research

Affiliate Program

Final Verdict

Pros and Cons


Overall Rating

Min Deposit

USD 0 / 0 Ugandan Shilling



Trading Desk

Metatrader 4 and Metatrader 5



Total Pairs


Islamic Account


Trading Fees


Account Activation Time

24 Hours

OANDA Overview

OANDA Review Overview Uganda


👉 OANDA offers three different retail trading accounts namely a Standard Account, Core Account, and a Swap-Free Account.


👉 OANDA accepts Uganda clients and has an average spread from 0.1 pips with $40 commission according to trading volume. OANDA has a maximum leverage ratio up to 1:200 and there is a demo and Islamic account available. OANDA, MT4, MT5, and TradingView platforms are supported. OANDA is headquartered in the United States and regulated by IIROC, ASIC, CFTC, NFA, FCA, FFAJ, JFSA, MAS, MFSA, and BVI FSC.


👉 OANDA, founded in 1996 by Dr Stumm and Dr Olsen, promotes that it performs “all things currency,” from currency conversion to FX data services for corporations to giving an established worldwide online brokerage service to consumers looking to trade the retail FX and CFD markets.


👉 In the United States, OANDA is one of the top performers in the CFTC’s Retail Forex Obligation report.


👉 In addition, OANDA ranks among the best online forex brokers due to its well-organized website, stated purpose of openness, emphasis on customer education and research, different user interfaces, and worldwide regulatory monitoring.


👉 This OANDA review for Uganda will provide local retail traders with the details that they need to consider whether OANDA is suited to their unique trading objectives and needs.


OANDA Distribution of Traders

OANDA Review Distribution of Traders Uganda


👉 OANDA currently has the largest market share in these countries:

➡️️ United States – 18.7%

➡️️ Germany – 8.8%

➡️️ United Kingdom – 6.4%

➡️️ Canada – 4.1%

➡️️ Spain – 3.1%


Popularity among traders who choose OANDA

🥇 OANDA is a prominent global broker, and it has a significant presence not just in the United States but also in other industrialized countries. On the other hand, OANDA is utilized by a considerable number of traders in Africa, which places it in the Top 20 forex brokers for traders in Uganda.



OANDA At a Glance

🏛 HeadquarteredUnited States
🏙 Local office in Kampala?No
✅ Accepts Uganda traders?Yes
🗓 Year Founded1996
📞 Uganda Office Contact NumberNone
🤳 Social Media Platforms• Facebook
• Twitter
• LinkedIn
• YouTube
🪪 License Number• IIROC
• Australia – ABN 26 152 088 349, AFSL No. 412981
• United States – NFA ID 0325821
• United Kingdom – 542574
• Japan – 1571
• Singapore – 200704926K
• Malta – VLT1455
⚖️ CMA Uganda RegulationNo
🚫 Regional RestrictionsNone indicated
☪️ Islamic AccountYes
💻 Demo AccountYes
🛍 Retail Investor Accounts3
📊 PAMM AccountsNo
🤝 Liquidity ProvidersJP Morgan, Deutsche Bank, Royal Bank of Canada
💸 Affiliate ProgramYes
📲 Order ExecutionMarket
📊 Average spreadFrom 0.1 pips
📞 Margin Call100%
🛑 Stop-Out50%
✅ Crypto trading offered?Yes
💰 Offers a UGX Account?No
👨‍💻 Dedicated Uganda Account Manager?No
📊 Maximum Leverage1:200
🚫 Leverage Restrictions for Uganda?No
💰 Minimum Deposit 0 Ugandan Shilling
✅ Uganda Shilling Deposits Allowed?Yes
📊 Active Uganda Trader Stats150,000+
👥 Active Uganda-based OANDA customersUnknown
💳 Uganda Daily Forex TurnoverUnknown, overall Forex Daily Trading Volume is over $6.6 Trillion
💵 Deposit and Withdrawal Options• Local Transfers
• Debit Cards
• Credit Cards
• Bank Wire
• Bank Transfers
• Skrill
• Neteller
• Mobile Bank Transfers
International e-Wallets
⏰ Minimum Withdrawal TimeNo
💵 Instant Deposits and Instant Withdrawals?Yes
🏦 Segregated Accounts with Uganda Banks?No
🕐 Maximum Estimated Withdrawal TimeUp to 5 Working Days
📊 Trading Platforms• MetaTrader 4
• OANDA Platform
• TradingView
✔️ Tradable Assets• Index CFDs
• Forex
• Metals
• Commodity CFDs
• Bonds CFDs
• Precious Metals
• Real-time Rates
💸 Offers USD/UGX currency pair?No
📈 USD/UGX Average SpreadN/A
📉 Offers Uganda Stocks and CFDsNone
🗣 Languages supported on WebsiteEnglish, Chinese (Traditional), Spanish, Portuguese
📞 Customer Support LanguagesMultilingual
⏰ Customer Service Hours24/5
👥 Customer Support LanguagesMultilingual
✅ Bonuses and Promotions for Uganda tradersYes
📚 Education for Uganda beginner tradersYes
📱 Proprietary trading softwareYes
💰 Most Successful Ugandan TraderUnknown
✅ Is OANDA a safe broker for Ugandan traders?Yes
📊 Rating for OANDA Uganda8/10
🤝 Trust score for OANDA Uganda91%
👉 Open an account👉 Open Account

Overall Rating

Min Deposit

USD 0 / 0 Ugandan Shilling



Trading Desk

Metatrader 4 and Metatrader 5



Total Pairs


Islamic Account


Trading Fees


Account Activation Time

24 Hours

OANDA Regulation and Safety of Funds

OANDA Review Regulation And Safety Uganda


OANDA Regulation in Uganda

👉 OANDA is a globally recognized entity but does not have any regulations or authorization from local authorities in Uganda. However, the offshore entities associated with OANDA accept Uganda traders.


OANDA Global Regulations

👉 OANDA is a globally-recognized brand that has the following regulations and authorization from global regulatory entities:

➡️ OANDA Corporation is registered as a participant in the National Futures Association (NFA) in the United States under membership number 0325821.

➡️ OANDA is registered as a Futures Commission Merchant and Retail Foreign Exchange Dealer with the Commodities Futures Trading Commission (CFTC).

➡️ The Investment Industry Regulatory Organization of Canada (IIROC) is the body in charge of broker oversight in the Canadian market. OANDA (Canada) Corporation ULC is well-regulated and authorized by IIROC.

➡️ OANDA Europe Ltd has a license issued by the Financial Conduct Authority (FCA) with the number 542574. This means that the company is both authorized and regulated.

➡️ The Monetary Authority of Singapore (MAS) is the governing body that oversees OANDA Asia Pacific Pte Ltd under license number 200704926K.

➡️ OANDA Europe Markets Limited is registered in Malta and subsequently regulated and authorized by the Malta Financial Services Authority (MFSA) under license number VLT1455.

➡️ The Australian Securities and Investments Commission (ASIC) has granted OANDA Australia Pty Ltd authorization and regulates the company’s operations (ABN 26 152 088 349, AFSL No. 412981).

➡️ The Financial Futures Association of Japan (FFAJ) is the organization in charge of policing OANDA Japan Co. Ltd. under the license number 1571,

➡️ In addition, OANDA Japan, Inc. is regulated and authorized by the Japanese Financial Services Authority (JFSA) under FIBO number 2137.

➡️ The British Virgin Islands’ BVI Financial Services Commission has granted OANDA Global Markets Ltd. an operating license and oversees the company’s regulatory compliance.


OANDA Client Fund Security and Safety Features

👉 The deposits made by customers are kept in separate bank accounts that are kept separate from one another. This money is stored at some of the most reputable financial institutions in Europe, including NatWest, Barclays, and Lloyds, as well as Ulster Bank in Ireland, Deutsche Bank in Germany, and Barclays in France.


👉 Internal auditors at OANDA provide routine checks and balances on the company’s accounting records. PricewaterhouseCoopers conducts an audit of the records on an annual basis, and then the results are submitted to the appropriate regulatory authorities.


👉 Customers from the United Kingdom and Europe who trade with OANDA are protected by the Financial Services Compensation Scheme (FSCS). If the broker goes out of business, customers who are qualified for compensation will get up to £85,000 for themselves.


👉 The Canadian Investor Protection Fund (CIPF) provides insurance coverage for Canadian customers that is valid for up to one million Canadian dollars. MAS-regulated countries are eligible for insurance coverage of up to 50,000 Singapore dollars if they meet certain criteria.


👉 Secure Socket Layer (SSL) encryptions are used to safeguard OANDA’s trading platforms and websites from being hacked by identity thieves and other online criminals to provide users with a sufficient level of safety.


👉 OANDA welcomes customers from all over the world, although inhabitants of some nations, such as those with more stringent regulations, cannot open an account with the company.

OANDA Account Types and Features

OANDA Review Account Types And Features Uganda


👉 OANDA provides retail investors with a choice between three distinct types of accounts, each of which comes with its own set of features and advantages.


👉 Along with access to more complex financial instruments, these accounts come with a variety of extra benefits, such as OANDA Market Pulse, protection against negative balances, and a plethora of other advantages.


👉 OANDA provides residents of Uganda with the following account options:

➡️ Standard Account

➡️ Core Account

➡️ Swap-Free Account


OANDA Live Trading Accounts

Standard Account

👉 This sort of account is suitable for most Uganda traders, independent of the traders’ trading objectives or personal preferences.

Account FeatureValue
💰 Full Account Verification Needed?No, not for account deposits under 33,000,000 UGX or an equivalent to $9,000
📊 Average SpreadsVariable, from 1 pip
💸 Commissions (Per 1 mil traded)None
📈 Maximum Leverage1:200
💳 Minimum lot size0.01 lots
🔧 Instruments81
📞 Margin Call100%
🛑 Stop-Out50%
✔️ One-Click Trading offered?Yes
✔️ Strategies allowedAll
💵 Base Account CurrencyUSD, EUR, HKD, SGD


Core Account

👉 Day traders, high-frequency traders, algorithmic traders, and any other short-term Uganda traders that want trading conditions that are more competitive and have lower spreads will find it to be an appropriate trading environment.

Account FeatureValue
💰 Full Account Verification Needed?No, not for account deposits under 33,000,000 UGX or an equivalent to $9,000
📊 Average SpreadsVariable, from 0.1 pips
💸 Commissions (Per 1 mil traded)40 USD / 4,600 KES
📈 Maximum Leverage1:200
💳 Minimum lot size0.01 lots
🔧 Instruments81
📞 Margin Call100%
🛑 Stop-Out50%
✔️ One-Click Trading offered?Yes
✔️ Strategies allowedAll
💵 Base Account CurrencyUSD, EUR, HKD, SGD


Swap-Free Account

👉 Traders who adhere to the principles of Sharia law may reap the benefits of utilizing this account to engage in the financial markets, with the advantage of not having to pay or earn interest on their transactions.

Account FeatureValue
💰 Full Account Verification Needed?No, not for account deposits under 33,000,000 UGX or an equivalent to $9,000
📊 Average SpreadsVariable, from 1.6 pips
💸 Commissions (Per 1 mil traded)None
📈 Maximum Leverage1:200
💳 Minimum lot size0.01 lots
🔧 Instruments26
📞 Margin Call100%
🛑 Stop-Out50%
✔️ One-Click Trading offered?Yes
✔️ Strategies allowedAll
💵 Base Account CurrencyUSD, EUR, HKD, SGD


OANDA Base Account Currencies

👉 OANDA only offers traders a choice between USD, SGD, HKD, and EUR as the base currencies for accounts.


OANDA Demo Account

OANDA Review Demo account Uganda


👉 A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital. 


👉 There is a certain degree of risk involved when trading financial markets and OANDA offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.


👉 The demo account offered by OANDA is designed to replicate the settings of the Standard Account and comes with a simulated balance of one hundred thousand US dollars. If you contact OANDA customer support and make this request, the demo account that you have will not expire.


OANDA Islamic Account

OANDA Review Islamic account Uganda


👉 Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.


👉 This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.


👉 Instead of offering a conversion option on live trading accounts, OANDA offers Muslim traders a dedicated account that exempts them from overnight fees. The trading conditions on this account are much higher to compensate for the absence of overnight fees.


👉 However, Islamic traders will find that the account still offers several advantages and features.

How to open an Account with OANDA:

OANDA Review Account Registration Uganda


👉 To register an account with OANDA, Uganda traders can follow these steps:

➡️ The first step is to access the OANDA website and select the option to “Start Trading” from several areas on the official website.

➡️ Traders must be 18 years or older to apply and OANDA will only pose questions that are relevant to the trader’s application, or for regulatory purposes.

➡️ Once Ugandans have completed the online application, it will be sent to OANDA’s onboarding team where it will be reviewed and subsequently approved.

➡️ Traders can then proceed to fund the trading account and for all deposits below 140,000 NAD ($9,000), account verification is not needed.


How to Register your OANDA Account 

👉 Step 1 – Go to the Official Website

➡️ Go to the OANDA Website (https://www.oanda.com/us-en/) and click on “Open Trading Account”. 

OANDA Review How to Register your OANDA Account Step 1


👉 Step 2 – Follow The Sign Up Steps

➡️ Firstly, you will be asked what your country of residence is. 

OANDA Review How to Register your OANDA Account Step 2


👉 Step 3 – Follow The Prompts & Questions

➡️ Fill out further details and follow the steps until your account creation is comleted. 

OANDA Review How to Register your OANDA Account Step 3

OANDA VS Alpari VS FXTM – Broker Comparison

📱 Trading Platform• MetaTrader 4
• OANDA Platform
• TradingView
• MetaTrader 4
• MetaTrader 5
• MetaTrader 4
• MetaTrader 5
• FXTM Trader
💰 Withdrawal FeeNoneYesYes
📊 Demo AccountYesYesYes
📈 Minimum Deposit0 UGX19,275 UGX
37,048 UGX

📈 Leverage1:200

Up to 1:10001:2000
📊 SpreadVariable, from 0.1 pipsFrom 0.4 pips0.0 pips
💰 Commissions$40$1.5From $0.4
✴️ Margin Call/Stop-Out100%/ 50%60%/40%• 60%/40%
• 80%/50%
✴️ Order ExecutionMarketInstant and MarketMarket, Instant
💳 No-Deposit BonusNoNoNo
📊 Cent AccountsNoNoNo
📈 Account Types• Standard Account
• Core Account
• Swap-Free Account
• Forex Standard Account (MT4)
• Forex Micro Account (MT4)
• Forex ECN Account (MT4/5)
• Forex Pro Account (MT4)
• Micro Account
• Advantage Account
• Advantage Plus Account
⚖️ CMA RegulationNoNoNo
💳 UGX DepositsYesYesYes
📊 UGX AccountNoNoNo
👥 Customer Service Hours24/524/524/5
📊 Retail Investor Accounts343
☪️ Islamic AccountYesYesYes
📊 Minimum Trade Size0.01 lots0.01 lots0.01 lots
📈 Maximum Trade Size1,000 lots250Unlimited

Overall Rating

Min Deposit

USD 0 / 0 Ugandan Shilling



Trading Desk

Metatrader 4 and Metatrader 5



Total Pairs


Islamic Account


Trading Fees


Account Activation Time

24 Hours

OANDA Trading Platforms

OANDA Review Trading Platforms Uganda


👉 OANDA offers Uganda traders a choice between these trading platforms:

➡️ MetaTrader 4

➡️MetaTrader 5

➡️ OANDA Platform

➡️ TradingView


Desktop Platforms

OANDA Review Desktop Platforms Uganda


➡️ MetaTrader 4

➡️ OANDA Platform

➡️ TradingView


MetaTrader 4 and MetaTrader 5

👉 The charting and analysing capabilities of MT4 are integrated with OANDA’s pricing and execution in a bridge that was designed specifically for this purpose.


👉 An MT4 premium upgrade grants traders with access to supplementary indicators and expert advisors (EAs), such as tick-chart and keyboard trading, chart-ladder order input, five-minute order book, and alert trading.


👉 Other features include tiny charts, OCO orders, chart-ladder order input, and a five-minute order book. MT5 is an upgraded version of its predecessor, which was known as MT4. When it comes to the capabilities of back-testing automated trading algorithms, MT5 is more powerful and more efficient than MT4.


👉 In addition to that, MetaTrader 5 comes with an integrated news feed, market depth indicator, economic calendar, and the capability to trade directly from the charts.


OANDA Platform

👉 This “next-generation” platform is OANDA’s offering, and it has won multiple awards. There are a variety of tools available, some of which include advanced charting and transaction management. The trading environment offered by the platform is user-friendly and flexible, making it suitable for investors with varying degrees of expertise.


WebTrader Platforms

OANDA Review WebTrader Platforms Uganda


➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ OANDA Platform

➡️ TradingView


MetaTrader 4

👉 The web-based MT4 trading platform is intuitive, flexible, and fully adjustable, and it comes packed with a wide variety of important trading features. In addition to the benefits that come with having an OANDA account, Uganda traders can explore a diverse array of trading possibilities, including the following:

➡️ Access to the market monitor window, which provides price quotes in real-time

➡️ Candlestick charts, bar charts, and line charts that may be shown for a variety of timeframes

➡️ This application has over 20 different drawing tools and over 30 different technical indicators built into the platform.

➡️ You will get access to trading automation that is based on expert advisors (EAs)


MetaTrader 5

👉 The web-based trading platform known as MetaTrader 5 was developed to assist Forex and stock traders in automating their trading activities via the use of trading robots, signals, and fundamental research.


👉 Trading over the web, algorithmic trading, trading via mobile devices, and expert technical analysis are some of the key aspects. Through in-depth price research and accurate forecasting, teams who use MetaTrader 5 can anticipate the moves of the market in the future.


👉 The program gives Uganda users the ability to track all the necessary financial instruments, analyse both short-term and long-term price patterns, and monitor price swings.


OANDA Platform

👉 The WebTrader platform offered by OANDA has been recognized with several honours, and it is well-known for its ability to assist traders in locating great trading opportunities.


👉 Traders in Uganda have unrestricted access to various instruments of technical analysis, which enables them to verify their trading ideas and techniques and assists them in making better trading choices.


👉 In addition, traders in Uganda may use the platform provided by OANDA to monitor and analyse the performance data of their trades, which assists them in better comprehending the way they engage in trading. Traders may also customize their platform to meet the specific requirements and preferences of their own trading styles.



👉 Using either a genuine or trial OANDA account, Ugandans can begin trading on TradingView’s market-leading charts from the trading platform of their choice instantly. Because OANDA cooperates with TradingView, Ugandan traders are now able to enjoy the benefits of using both platforms simultaneously.


👉 By integrating an OANDA account with TradingView’s platform, Uganda can reap the benefits of TradingView’s community, advanced charting, and analytical tools, in addition to OANDA’s transparent pricing, and fully automated risk management systems, and market data.


Trading App

OANDA Review Trading App Uganda


➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ OANDA Platform


MetaTrader 4 and 5

👉 The MetaTrader 4 and 5 platforms supports app development for both iOS and Android. Its capabilities and features are the same as those of the desktop applications, and they include any or all the following:

➡️ The most accurate pricing available in real-time for all asset categories

➡️ Representations of data in a graphical form that may be used for doing technical analysis

➡️ A user interface that is intuitive and can be adapted to the specific needs of each user

➡️ While you are on the road, keep an eye on live trading, charts, and headlines


OANDA Platform

👉 The mobile app for OANDA is an extension of the company’s desktop platform, which is known for its ease of use. In terms of trading functionality, the desktop, and mobile platforms of OANDA are the same and traders can expect the following features:

➡️ Traders in Uganda have access to the full range of charting choices via the mobile app, in addition to the trading functions that are available on the desktop platform.

➡️ Traders can analyse the outcomes of their transactions. The performance metrics offered by OANDA are an excellent method for monitoring the evolution of trade over time.

➡️ Traders are provided with up-to-the-minute information on the market. The market news feed offered by OANDA includes commentary from market professionals in addition to reporting on all recent occurrences.


OANDA Range of Markets

👉 Uganda traders can expect the following range of markets from OANDA:

➡️ Index CFDs

➡️ Forex

➡️ Metals

➡️ Commodity CFDs

➡️ Bonds CFDs

➡️ Precious Metals

➡️ Real-time Rates

Broker Comparison for Range of Markets

➡️️​ ForexYesYesYes
➡️️​ Precious MetalsYesYesYes
➡️️​ ETFsNoNoNo
➡️️​ CFDsYesYesYes
➡️️​ IndicesYesYesYes
➡️️​ StocksYesYesYes
➡️️​ CryptocurrencyNoNoNo
➡️️​ OptionsNoNoNo
➡️️​ EnergiesYesNoYes
➡️️​ BondsYesNoNo

Overall Rating

Min Deposit

USD 0 / 0 Ugandan Shilling



Trading Desk

Metatrader 4 and Metatrader 5



Total Pairs


Islamic Account


Trading Fees


Account Activation Time

24 Hours

OANDA Trading and Non-Trading Fees

OANDA Review Spreads Uganda



👉 OANDA, which is renowned for having minimal spreads, makes it possible to trade all types of financial instruments. According to OANDA, spreads may become more widespread at certain times of the day if significant international events or geopolitical events are taking place.


👉 OANDA gives traders two different pricing options to choose from spread-only pricing and commission pricing. Because the commission is already included in the spread, spread-only pricing will not result in any extra financial obligations on your part.


👉 Alternately, traders who have accounts that solely allow spread trading may benefit from the smaller spreads. The suitable spread, in addition to any other fees spent by traders, becomes the basis for the calculation of trading expenses.


👉 The following is a list of the typical spreads that traders in Uganda might anticipate seeing:

➡️ Standard Account – from 1 pip

➡️ Core Account – from 0.1 pips

➡️ Swap-Free Account – from 1.6 pips



OANDA Review Commissions Uganda


👉 If traders want to use the Core Account, then they will be required to pay a commission fee of $40 for every million dollars that are traded.


Overnight Fees, Rollovers, or Swaps

OANDA Review Overnight Fees Uganda


👉 Traders who use the Swap-free account get access to 26 popular products, each of which is subject to costs ranging from $4 to $7 for each lot sold. The exception to this rule is the Japan 225 Index, which incurs fees per 100 lots traded.


👉 If a Muslim trader leaves their position open for more than five days, they will be subject to the fees that are described above.


👉 Calculating the fees associated with forex pairings involves taking the average of the tom-next SWAP rates offered by the underlying liquidity providers, deducting the instrument-specific admin charge, and then annualizing the resulting value.


👉 The indices reflect the corresponding annual financing rate in addition to the administrative charge of 2.5% of the total amount. This is shown as a negative rate, which results in a charge being applied.


👉 Overall, OANDA does not apply overnight interest on Islamic Accounts but calculates overnight fees for all other accounts as follows:

➡️ Forex and Precious Metals – on long/buy and short/sell positions the rates are calculated using a combination of the tom-next SWAP rates offered by the underlying liquidity providers. These rates are then annualized after being modified by the instrument-specific admin charge.

➡️ Indices – on long/buy positions the rates consist of an administration charge of 2.5% in addition to the relevant annualized financing rate. This is portrayed by a negative interest rate, and hence, a charge. On short/sell positions, when the applicable one-month annualized financing rate is more than the OANDA 2.5% administrative charge, the difference between the two will be annualized and utilized as the rate. This is shown by a positive rate and, thus, a credit.


Deposit and Withdrawal Fees

OANDA Review Deposits And Withdrawal Fees Uganda


👉 When you deposit with OANDA, there is not a fee associated with it; however, there is a fee of $20 associated with bank wire transfers to and from the trading account.


Inactivity Fees

👉 Trading accounts are subject to a monthly inactivity charge once they have been dormant for 12 months. Inactive accounts are subject to a maximum cost of ten dollars per month until the amount in the account reaches zero, at which point the account is cancelled immediately.


Currency Conversion Fees

👉 When Uganda traders deposit or withdraw funds to/from the trading account in any currency other than the accepted account currencies, they are charged a conversion fee.

OANDA Deposits and Withdrawals

OANDA Review Deposits And Withdrawals Uganda


👉 OANDA offers the following deposit and withdrawal methods:

➡️ Local Transfers

➡️ Debit Card

➡️ Credit Card

➡️ Bank Wire

➡️ Bank Transfers

➡️ Skrill

➡️ Neteller

➡️ Mobile Bank Transfers

➡️ International e-Wallets


How to Deposit Funds with OANDA

OANDA Review How To Deposit Funds Uganda


👉 To deposit funds to an account with OANDA, Uganda traders can follow these steps:

➡️ Traders who have not already funded an OANDA landing account before can do so by logging in to the OANDA portal and selecting “Fund Account” from the menu that appears on the right-hand side of the screen.

➡️ Traders may choose which of the various financing methods they would want to use to add a new bank account to their list of funding possibilities.

➡️ Subsequently, an investment account will be immediately formed once the first deposit has been made into the account.


OANDA Fund Withdrawal Process

OANDA Review How To Withdraw Funds Uganda


👉 To withdraw funds from an account with OANDA, Uganda traders can follow these steps:

➡️ Traders may utilize debit or credit card payments, bank transfers, or other means to withdraw funds from a trading account to their bank account.

➡️ Traders can withdraw funds from a trading account to a landing account. Traders have a responsibility to realize that OANDA’s withdrawal procedures are structured hierarchically.

➡️ This indicates that traders are required to withdraw the total amount of money deposited using each method in the order in which the funds were deposited. For example, traders must first withdraw funds using debit cards, then credit cards, then Skrill, then Neteller, and finally a wire transfer from their bank account.

OANDA Education and Research

OANDA Review Education And Research Uganda



👉 The “Learn” section on the OANDA website provides traders with access to a wide variety of instructional resources covering a variety of topics. There are many training videos available, and OANDA covers a wide range of subjects related to trading, such as fundamental analysis, technical indicators, forex/CFD trading, and many more.


👉 The educational videos are organized into categories that are appropriate for beginning, intermediate, and experienced traders. There are trading guidelines available, each addressing a certain kind of trading.


👉 In addition to this, some articles provide explanations of fundamental topics. Individuals who are just beginning their venture into online trading may find these articles to be helpful.


👉 OANDA offers the following educational videos and materials:

➡️ Introduction to Trading Analysis

➡️ Introduction to the trading platforms

➡️ Introduction to Capital Management

➡️ Live and Recorded Webinars


👉 OANDA offers Uganda traders the following Research materials and resources

➡️ MetaTrader Premium Tools

➡️ Technical analysis offered by AutoChartist

➡️ VPS

➡️ Economic Calendar


👉 In addition, OANDA provides advanced traders with these useful trading tools:

➡️ Advanced Charting Capabilities

➡️ Algo Lab

➡️ Pattern Recognition as well as Price Projection

➡️ Module Linking

➡️ Chart Forum

➡️ Client Sentiment Tools

➡️ Market Calendar

➡️ Market Insights

➡️ Market News as well as Comprehensive Analysis


Advanced Charting Capabilities

👉 On its own OANDA Trade platform, OANDA provides an extensive charting suite. Over 65 indicators and drawing tools are included in the charting suite. Customers may place trades straight from the charts. There are around 11 configurable charts, including the Heikin-Ashin, Renko, and many others.


👉 TradingView, a major web-based charting program and social networking site, provides the charting software. TradingView’s charting package has been simply incorporated into the ‘OANDA Trade’ platform by OANDA.


Algo Lab

👉 This module provides access to historical backtesting, coding, and automated trading strategy deployment. QuantConnect, a free algorithmic trading platform for FX and CFD trading, powers it. Clients may use the Algo Lab to backtest OANDA’s tick data dating back to 2004.


👉 In addition, the Algo Lab is accessible in a variety of programming languages, including C#, Python, and F#.


Pattern Recognition as well as Price Projection

👉 The Next Generation trading platform includes a pattern detection feature. It analyses the charts for technical patterns like triangles and wedges, among others. When the patterns are finished, it generates a price projection box that highlights the region where it believes the price movement will go.


Module Linking

👉 This tool allows you to arrange charts together for comparing purposes. This tool is handy for simultaneously studying the same assets over numerous charts, periods, indicators, and so on.


Chart Forum

👉 Traders may debate tactics, share ideas, and share chart analyses in this forum. It is a component of the trading platform Next Generation. Traders may copy analyses, store them, and comment on them.


Client Sentiment Tools

👉 This tool displays the proportion of traders who purchased a certain instrument as well as the percentage who sold the same item. Sentiment research is a popular component of a contrarian trading approach.


Market Calendar

👉 This displays the dates and timings of several worldwide events, as well as their expected market effect. The Next Generation platform streams this calendar, which is powered by Reuters.


Market Insights

👉 This includes daily commentary and video analysis from OANDA experts. It is available via the trading platform. The goal is to provide traders with advice on how to proceed according to the analysis and price movements of different assets.


Market News as well as Comprehensive Analysis

👉 Market comments, chart analysis, a weekly forecast, and technical and fundamental analysis are all addressed. This is also developed and delivered by OANDA’s analysis team.

OANDA Bonuses and Promotions

👉 OANDA offers Uganda traders the following bonuses and promotions:

➡️ Welcome Bonus

➡️ Referral Bonus

How to open an Affiliate Account with OANDA

OANDA Review Affiliate Program Uganda


👉 To register an Affiliate Account, Ugandans can follow these steps:

➡️ Ugandans can visit the official OANDA website and hover over the “Menu” option next to the OANDA logo on the homepage.

➡️ From the dropdown, select “Partners” under the “About OANDA” section.

➡️ This will open the affiliate page where you can read about the benefits of joining OANDA’s affiliate program.

➡️ You will find a link that will redirect you to the application, or you can scroll down to find the affiliate application on the page.

➡️ You can enter some basic details and provide a user-selected password. In addition, you must provide your company name and website to continue.

➡️ Once you have completed all the required fields, you must read and accept the Payment Disclaimer and the Privacy Policy and confirm that you are not a robot by completing the CAPTCHA.


OANDA Affiliate Program Features

👉 Customers of OANDA’s broker affiliate program may earn additional money by bringing in new traders to the platform. Traders might earn between 5% and 15% of the spread of the consumers indicated by this referral scheme.


OANDA Customer Support

👉 OANDA offers multilingual support that can be accessed 24 hours a day, 5 days a week through several diverse ways.


OANDA Corporate Social Responsibility

👉 There is currently no information available on the active CSR projects or initiatives of OANDA.

Verdict on OANDA

👉 Overall, OANDA is a brand name that seasoned traders in the foreign exchange industry are familiar with.


👉 OANDA’s proprietary platform provides a high-quality desktop trading experience, which, when combined with exceptional research and analytical functions, makes it an excellent choice for traders who are already familiar with the requirements of trading on the retail foreign exchange market.


👉 OANDA has made it clear that one of its goals is to separate itself from the competition by providing greater transaction execution and transparency, and all the data points in that direction.


👉 Although OANDA’s research services are exhaustive, the structuring of its content leaves much to be desired since it is dispersed over the company’s website and other platforms.


👉 However, it is troubling that despite being licensed by the NFA and the FCA, OANDA does not provide slippage protection or extra deposit safeguards above and above what is required by the authorities.

OANDA Current Popularity Trends

👉 According to Google Trends, OANDA has seen an increase in Google Searches in the past month. 

OANDA Current Popularity Trends

OANDA Pros and Cons

✔️ Pros❌ Cons
OANDA is extremely well-regulated by a total of ten market regulatorsThere is no negative balance protection for US clients
OANDA offers powerful and innovative proprietary trading software that is award-winningThere are no guaranteed stop-losses for either US or UK clients
There is no minimum deposit requirement, allowing Ugandans the chance to start with a small investmentThere is no UGX-denominated account
OANDA is beginner-friendly and simultaneously caters extensively to professional tradersThere are withdrawal fees applied to bank wire transfers
The account setup is quick, and Ugandans need not verify their account for deposits of less than 33,000,000 UGX ($9,000)Ugandan traders will be subject to an inactivity fee if their account becomes inactive after 12 consecutive months
There is a range of tradable markets offered, with competitive trading conditions
Negative balance protection is available
There are low forex fees and commission-free trading is offered

Overall Rating

Min Deposit

USD 0 / 0 Ugandan Shilling



Trading Desk

Metatrader 4 and Metatrader 5



Total Pairs


Islamic Account


Trading Fees


Account Activation Time

24 Hours

Frequently Asked Questions

How do I open a real account with OANDA?

You can visit OANDA’s website, click on the banner to apply, complete the seven sections of the application, and submit it for review by OANDA’s onboarding team.


If you intend to deposit less than $9,000, you do not need to verify your identity or residential address, and this means you can fund your account upon approval and start trading immediately.


Is OANDA regulated?

Yes, OANDA is regulated by ten market regulators including IIROC (Tier-1) in Canada, ASIC (Tier-1) in Japan, CFTC and NFA (Tier-1) in the United States, FCA (Tier-1) in the United Kingdom, FFAJ and JFSA (Tier-1) in Japan, MAS (Tier-1) in Singapore, MFSA (Tier-3) in Malta, and BVI FSC (Tier-3) in the British Virgin Islands.


Is OANDA good for Day Trading?

No, OANDA is not ideal for day trading. While OANDA employs powerful trading technology and has an extraordinarily strong regulatory environment and track record, OANDA’s pricing is much higher than what other brokers charge, which makes it a less favourable option for day traders who need zero-pip spreads and fast trade execution.


Does OANDA have negative balance protection?

Yes, OANDA offers negative balance protection to most clients, but not those who are United States residents. This implies that traders in the United States with negative account balances may wind up owing money to the broker.


What is the withdrawal time for OANDA?

The withdrawal time ranges from between one business day up to ten business days.


Does OANDA have an affiliate programme?

Yes, OANDA has an affiliate programme.

The OANDA partner program is the worldwide OANDA brand’s official affiliate program. It is regarded as one of the most successful and lucrative affiliate programs in the financial business.


Does OANDA have Nasdaq?

Yes, NAS100 is an instrument that is offered by OANDA as a CFD on Indices. This means that Ugandans can speculate on the price movements of Nasdaq.


Does OANDA have Volatility 75?

No, Volatility 75 (also known as VIX) does not currently form a part of OANDA’s extensive financial instrument portfolio.


Is OANDA safe or a scam?

OANDA is not a scam broker. OANDA has verified regulation and authorization with eight Tier-1 and two Tier-3 market regulators, giving it an overall trust score of 92 out of 100.


👉 Now it is your turn to participate:

➡️ Do you have any prior experience with OANDA?

➡️ What was the determining factor in your decision to engage with OANDA?

➡️ Was it because of the minimum deposit, regulation, retail trading accounts, or any other factors?

➡️ Have you experienced any issues with OANDA such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?


👉 Regardless, please share your thoughts in the comments below.



👉 No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.

10/10 - (1 vote)

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