| Online Broker | Minimum Deposit | Forex Trading Platforms | Trade Without Verification |
|---|---|---|---|
| Oanda Global | None Minimum Deposit | MT4, MT5, fxTrade Forex Trading Platforms | The Trader May Trade, Deposit And Withdraw (including By Bank Transfer, Neteller and Skrill) At Oanda Global Without Verification For Gross Deposits Up To $9,000; Welcome Bonus Of Up To $300, T&Cs apply Deposit Without Verification |
Trade Without Verification At Oanda Global
Oanda Global is regulated in the British Virgin Islands by the BVI Financial Services Commission, number: SIBA/L/20/1130. Oanda Global is part of the well known and very long established Oanda Group, which has been in operation for 25+ years, for Forex traders. Oanda allows traders to deposit, trade and withdraw with a range of payment methods, without having to send verification documents. Once gross deposits exceed $9,000, the trader does need to verify their account with documentation.
Oanda has been in existence originally since 1996, when it was founded in Toronto, Canada. Oanda Global is a MetaTrader 4 (MT4) and MetaTrader 5 (MT5) Forex broker. Oanda offers these account types, Standard, Core, Swap-Free, Premium and Premium Core. No verification trading is offered for three account types (Standard, Core and Swap-Free).
The Standard account is for all traders while the Core account is for traders who use Expert Advisors (EAs, MT4 and MT5's online trading robots), short term traders (e.g. scalpers) and high volume traders. The Standard account does not charge commissions, while the Core account does ($4 per lot per side) but can offer Forex spreads from 0 pips plus the commission charge.
| Account Type | Minimum Deposit | What Is This Account |
|---|---|---|
| Standard Account Type | None Minimum Deposit | The Standard account is for all traders and does not have a minimum deposit requirement What Is This Account |
| Core Account Type | None Minimum Balance | The Core account is is for EAs, scalpers and high frequency traders and offers Forex spreads from 0 plus commission What Is This Account |
| Swap-Free Account Type | At Oanda's Discretion Minimum Balance | The Swap-Free account is for traders who do not wish to pay or receive interest on their accounts What Is This Account |
Oanda offers a wide range of tools for the different kinds of traders it supports. Oanda provides MT4 and MT5 Premium Tools free to all traders. These add on features include Sentiment Trader and Correlation Trader which show respectively historical market sentiment vs price action and strength correlation between two symbols, along with many more tools.
Oanda provides Expert Advisors and Indicators for free and for traders who want to run EAs 24/7, offers Virtual Private Server (VPS) hosting via BeeksFX and Liquidity Connect. For traders who execute their own trades, technical analysis is provided powered by AutoChartist. This can be run as an EA (EAs can do more than implement robots) or as a web based chart application. On the website Market Pulse is available, with news and analysis.
Traders can trade Forex, Indices, Energy, Metals, Cryptocurrency and Stocks CFDs. Payment methods include credit and debit cards, bank wire transfer, Skrill and Neteller.
There is a Welcome Bonus of up to $300, T&Cs apply. To get the maximum bonus the trader needs to deposit at least $3000 and meet minimum trade volumes within 45 days. For a deposit of $500 - $2999, there is a $50 bonus, with a trading volume requirement of $500,000 notional. For the full bonus, the trading volume requirement is $2,000,000 notional.
Thus traders who want to trade at a long established, regulated MetaTrader Forex broker can try Oanda. Up until deposits total over $9,000 (or equivalent) the trader does not need to send verification documents (e.g. passport or bank statement). Forex leverage is up to 888:1 (increasing leverage increases risk). Oanda has accounts and a wide range of tools for all kind of traders, from those who plan and execute their own trades on lower volumes and longer term to high volume traders, automated traders and scalpers.
