OANDA – Access current and historical rates using the most popular currency converter
Unlike many other top Forex brokers, OANDA is a multi-faced financial services provider that serves not only as a Forex broker, but also as a vehicle for numerous other financial investments and transactions. While company’s expansive offerings may pique the interest of some traders, those who are looking for a straightforward Forex trading experience can quickly be distracted by the mix of services, tools and information that are presented on the site.
When opening an account, you will be able to choose from seven available currency options. You will also be able to select the leverage you want for your trading. OANDA offers much lower leverage than other platforms, which limits the risk.
Once logged in, using the application if fairly simple and intuitive. It is easy to open new positions and then edit them. There is full information on the history of positions, transactions and activities in the account. The desktop can be set according to your personal preferences, to provide you with the tools most valuable to you. So you can decide which pairs you want to see and in what order, and you can set the form of the charts to be the most convenient for you to use.
To withdraw funds for the first time you are also required to set up a user profile that includes your bank account details, even if this wasn’t the method you used to deposit. Once the profile is set up, withdrawal process is rather simple. Funds will be returned to the same payment method with which you made the deposit.
OANDA prides itself with the accessibility it provides to users discussion forums from anywhere within the site or the trading platforms. The community of users provides powerful information from which users can learn about FOREX and using OANDA’s platform and services. With all its products, resources and forums to browse thru, OANDA offers a complete Forex trading experience. While it definitely takes time to master all these tools, you should have no problem mastering the system with a bit of practice.
Use currency converter to know updated exchange rates from http://www.oanda.com/currency/converter/.
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