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OANDA Review

Overall, OANDA is very competitive in terms of its trading fees and spreads. OANDA is a multi-regulated forex broker with 11 Tier-1 (High Trust) and 2 Tier-3 (Low Trust) regulators.  OANDA has a Trust Score of 92% out of 100. OANDA is currently not regulated by the MFED, BoB, or NBFIRA of Botswana

Updated : May 7, 2024

Jump to:

005 regulations book


005 feature selection

Regulation and Safety of Funds


Awards and Recognition

007 fees

Account Types and Features


Account Registration


Broker Comparison

003 responsive design

Trading Platforms

003 stock market

Range of Markets



001 cash withdrawal

Deposit and Withdrawels

003 research

Education and Research


Bonuses and Promotions

001 cash withdrawal

Affiliate Programs

customer service

Customer Support

002 affiliate marketing

Social Responsibility

008 auction

Final Verdict

004 review

Pros and Cons

001 question


Overall Rating

Min Deposit




Trading Desk

Metatrader 4 and Metatrader 5



Total Pairs


Islamic Account


Trading Fees


Account Activation Time

24 Hours




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

OANDA accepts Botswanan 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.


Despite its headquarters in the United States, OANDA accepts and accommodates Botswanan traders. Even though OANDA is not authorized by any local market regulators in Botswana or any local offices in Gaborone, beginner and experienced traders in the area should anticipate competitive trading conditions from OANDA.

OANDA offers traders favorable trading conditions in addition to a comprehensive assortment of tradeable items. OANDA has offices worldwide, from Japan to Singapore, with local regulation and permission that is consistent with global operations.


OANDA maintains a team of analysts that give daily news updates, in-depth market research, and professional commentary to assist traders to manage the complexities of futures trading.

OANDA has received over 50 industry awards to date for its own mobile trading platform, first-rate customer support, extensive trading education, and other facets of the business.


Broker of Market Maker As a Market Maker broker, OANDA has a distinct and effective business model and serves as the exclusive execution venue for all trading orders. Therefore, there is no need for an order book, and OANDA neither accepts nor offers liquidity.

Subsequently, over the past quarter-century, OANDA has built a formidable reputation by delivering all its clients’ orders at low, competitive prices and with rapid, trustworthy service.


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


Distribution of Traders

Distribution of Traders


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 

🥇 OANDA is a worldwide broker with a strong presence in the United States and other key markets. However, OANDA is used by many African traders, and it is ranked among the Top 100 forex brokers that service Botswanan traders.


Regulation and Safety of Funds

Regulation and Safety of Funds


Regulation in Botswana

OANDA is not regulated or authorized by either the Ministry of Finance and Economic Development (MFED), Bank of Botswana (BoB), or the Non-Bank Financial Institutions Regulatory Authority (NBFIRA).


Global Regulations

 has the following verified licenses:

➡️ In Canada, the firm OANDA (Canada) Corporation ULC is accessible to Canadian traders who have a Canadian bank account. The Investment Industry Regulatory Organization of Canada (IIROC) strictly regulates OANDA (Canada) Corporation ULC. The online advisor check database is included in this rule, and all client accounts are safeguarded by the Canadian Investor Protection Fund.

➡️ In Australia, under the registration numbers ABN 26 152 088 349 and AFSL No. 412981, OANDA Australia Pty Ltd is governed and regulated by the Australian Securities and Investments Commission (ASIC).

➡️ In the United States, OANDA Corporation is a Futures Commission Merchant member. It is also a Commodity Futures Trading Commission (CFTC)-registered Retail Foreign Exchange Dealer and a member of the National Futures Association (NFA) with license number 0325821.

➡️ In the United Kingdom, OANDA Europe Limited is a company incorporated in England (7110087) and regulated by the Financial Conduct Authority (FCA) under license number 542574.

➡️ In Japan, OANDA operates through the entity OANDA Japan Co., Ltd., which is classified as a Financial Instruments Business Director at the Kanto Local Financial Bureau (Kin-sho). In addition, the Financial Futures Association of Japan regulates and oversees OANDA Japan Co., Ltd., under subscriber number 1571. In addition, OANDA Japan, Inc. is regulated by the Japanese Financial Services Authority (JFSA) under FIBO 2137.

➡️ In Singapore, OANDA Asia Pacific Pte Ltd (Co. Reg. No 200704926K) is a Capital Markets Services License holder and is regulated by the Monetary Authority of Singapore (MAS)

➡️ In Malta, OANDA Europe Markets Limited is registered with the registration number C95813. Furthermore, the Malta Financial Services Authority (MFSA) governs OANDA in Malta.

➡️ Lastly, in the British Virgin Islands (BVI), OANDA Global Markets Ltd. is registered and regulated by the BVI Financial Services Commission (BVI FSC) under license number 2026433.


Client Fund Security and Safety Features

Client Fund Security and Safety Features


OANDA is required by law to report its finances to regulatory authorities and maintain a specific level of capital reserves. A respectable accounting firm from outside the nation will audit OANDA’s financial statements.

Because OANDA is required to keep client funds in top-tier banks, the broker may only withdraw them in conjunction with clients’ trading activity or withdrawal requests.


Furthermore, OANDA works with the world’s largest banks and financial institutions to get access to and provide liquidity for global currency and CFD markets.

OANDA uses innovative risk management technology to automatically and anonymously net aggregate client holdings, and the broker promptly hedges outstanding aggregated positions that exceed specified parameters with partner banks.


Is OANDA regulated, and how does it ensure the safety of funds?

Yes, OANDA is a regulated forex broker. OANDA is registered with several financial regulatory authorities worldwide, depending on the region it operates in. For example, in the United States, OANDA is registered with the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC).


How does OANDA secure client funds and maintain financial transparency?

OANDA employs several measures to secure client funds and maintain financial transparency. Client funds are typically held in segregated accounts, separate from the broker’s operational funds.

OANDA At a Glance

🏛 HeadquarteredUnited States
🌎 Global OfficesUSA, Canada
🏛 Local Market Regulators in Botswana• Ministry of Finance and Economic Development (MFED)
• Bank of Botswana (BoB)
• Non-Bank Financial Institutions Regulatory Authority (NBFIRA)
💳 Foreign Direct Investment in Botswana115.89 BWP Million in 2021
💰 Foreign Exchange Reserves in Botswana5270 USD Million in 2021
✔️ Local office in Gaborone?No
👨‍⚖️ Governor of SEC in BotswanaNone, Moses Dinekere Pelaelo is the Governor of the Bank of Botswana
✔️ Accepts Botswana Traders?Yes
📊 Year Founded1996
📞 Botswana Office Contact NumberNone
📱 Social Media Platforms• Facebook
• Twitter
• LinkedIn
• YouTube
1️⃣ Tier-1 Licenses• Investment Industry Regulatory
• Organization of Canada (IIROC)
• The Australian
• Securities and Investments Commission (ASIC)
• The Commodity Futures Trading • Commission (CFTC)
• National Futures Association (NFA)
• Financial Conduct Authority (FCA)
• Financial Futures Association of Japan (FFAJ)
• Japanese Financial Services Authority (JFSA)
• Monetary Authority of Singapore (MAS)
2️⃣ Tier-2 LicensesNone
3️⃣ Tier-3 Licenses• Malta Financial Services Authority (MFSA)
• British Virgin Islands Financial Services Commission (BVI FSC)
🪪 License Number• IIROC
• Australia – ABN 26 152 088 349, AFSL No. 412981
• United States – NFA ID 0325821
• United Kingdom – 542574
• Japan (FFAJ) – 1571
• Japan (JFSA) – FIBO 2137
• Singapore – 200704926K
• Malta – VLT1455
• British Virgin Islands – 2026433
⚖️ MFED, BoB, or NBFIRA 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
📊 Starting spreadFrom 0.1 pips
📉 Minimum Commission per TradeFrom $40
💰 Decimal Pricing5th decimal pricing after the comma
📞 Margin Call100%
🛑 Stop-Out50%
📉 Minimum Trade Size0.01 lots
📈 Maximum Trade Size1,000 lots
✅ Crypto trading offered?No
✔️ Offers a BWP Account?No
📉 Dedicated Botswana Account Manager?No
📈 Maximum Leverage1:200
📊 Leverage Restrictions for Botswana?No
💳 Minimum Deposit (BWP)0 Botswanan Pula
✔️ Botswana Pula Deposits Allowed?Yes
📊 Active Botswana Trader Stats250,000+
👥 Active Botswana-based OANDA customersUnknown
🔁 Botswana Daily Forex TurnoverUnknown, Forex overall is $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 Time1 business day
⏰ Maximum Estimated Withdrawal Time7 to 10 business days
💳 Instant Deposits and Instant Withdrawals?No
🏛 Segregated Accounts with Botswana Banks?No
📱 Trading Platforms• MetaTrader 4
• MetaTrader 5 (BVI Website)
• OANDA Platform
• TradingView
💻 Tradable Assets• Index CFDs
• Forex
• Metals
• Commodity CFDs
• Bonds CFDs
• Precious Metals
• Real-time Rates
✔️ Offers USD/BWP currency pair?No
📊 USD/BWP Average SpreadN/A
✅ Offers Botswana Stocks and CFDsNo
💻 Languages supported on the WebsiteEnglish, Chinese (Traditional), Spanish, Portuguese
☎️ Customer Support LanguagesMultilingual
👥 Copy Trading SupportYes
⏰ Customer Service Hours24/5
📞 Botswana-based customer support?No
💸 Bonuses and Promotions for Botswanans?Yes
📚 Education for Botswanan beginner tradersYes
📱 Proprietary trading softwareYes
🤝 Most Successful Trader in BotswanaUnknown
✔️ Is OANDA a safe broker for Botswana Traders?Yes
🎖 Rating for OANDA Botswana8/10
🥇 Trust score for OANDA Botswana92%
👉 Open Account👉 Open Account

Awards and Recognition

Awards and Recognition


OANDA has been recognized as the best provider of both services and financial solutions on several occasions throughout the course of its history, earning accolades such as “Best Education Materials 2018” from Investment Trends – US Foreign Exchange Report and “No. 1 Forex Broker in Singapore” in 2017, among many others.


Has OANDA received any awards for its services in the forex industry?

Yes, OANDA has received numerous awards for its services in the forex industry. The broker has been recognized for excellence in various categories, including trading platforms, customer service, and innovation.


How can I learn more about the awards and recognitions OANDA has received?

To learn more about the awards and recognitions received by OANDA, traders can visit the broker’s official website. OANDA typically showcases its achievements and accolades in a dedicated section, providing details about each award, the category, and the year it was received.

OANDA Account Types and Features

Account Types and Features


They provide three unique retail investor accounts to meet the diverse demands of various sorts of traders. These accounts not only provide you access to complicated instruments, but they also give you negative balance protection, access to OANDA’s Market Pulse, and several other advantages.


These are the accounts:

➡️ Standard Account

➡️ Core Account

➡️ Swap-Free Account


💻 Live Account📉 Minimum Dep.📊 Average Spread💰 Commissions💸 Average Trading Cost
➡️ Standard0 BWP1 pipNone, spread10 USD
➡️ Core747 BWP0.1 pip$40 per million6 USD
➡️ Swap-Free0 BWP1.6 pipsNone, spread16 USD


Live Trading Accounts

Standard Account

Standard Account


This is the entry-level, basic account that is suitable for most traders regardless of their trading goals or trading styles.

Account FeatureValue
✔️ Full Account Verification Needed?No, not for account deposits under 100,000 BWP 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
🛑 Stop-Out (%)50%
📱 One-Click Trading offered?Yes
✅ Strategies allowedAll
💰 Base Account CurrencyUSD, EUR, HKD, SGD


Core Account

Core Account


The Core Account has tighter spreads and more competitive terms, making it ideal for expert advisers, day traders, high-frequency traders, algorithmic traders, and all other short-term traders.

Account FeatureValue
✔️ Full Account Verification Needed?No, not for account deposits under 100,000 BWP or an equivalent to $9,000
📊 Average SpreadsVariable, from 0.1 pips
💸 Commissions (Per 1 mil traded)40 USD
📈 Maximum Leverage1:200
📉 Minimum lot size0.01 lots
🔨 Instruments81
🛑 Stop-Out (%)50%
📱 One-Click Trading offered?Yes
✅ Strategies allowedAll
💰 Base Account CurrencyUSD, EUR, HKD, SGD


Swap-Free Account

Swap-Free Account


This Account is appropriate for traders who do not wish to pay or earn interest on their trading accounts, such as Muslim traders who follow Sharia law.

Account FeatureValue
✔️ Full Account Verification Needed?No, not for account deposits under 100,000 BWP 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
🛑 Stop-Out (%)50%
📱 One-Click Trading offered?Yes
✅ Strategies allowedAll
💰 Base Account CurrencyUSD


Base Account Currencies

They have a restricted selection of account base currencies, and Botswanan traders cannot set BWP as their base currency. Botswanans must instead decide between USD, SGD, HKD, and EUR.

Notably, it is preferred for investors who trade in considerable volumes (more than 10 lots per month) to open a USD-denominated account with a digital currency bank. This is particularly pertinent for Botswanan traders that deal in the EUR/USD currency combination.

This is since when trading a USD-quoted currency pair with an account in another currency, a modest currency conversion fee will be imposed to each performed transaction.


Demo Account

Demo Account


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 broker provides an unlimited number of demo accounts, which are great for testing algorithmic trading solutions and new methods.


Islamic Account

Islamic Account


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.


They provide Muslim traders with a specialized account by offering a Swap-Free live trading account with distinct added features and trading restrictions. Muslim Botswanan traders can expect some of the following features from their Islamic accounts:

➡️ Variable spreads that start from 1.6 pips EUR/USD and the advantage of commission-free trading, with the broker’s fee included in the spread.

➡️ Access to maximum leverage up to 1:200.

➡️ Access to more than 26 tradable instruments that can be traded.

➡️ Access to one-click trading.

➡️ Flexibility and freedom in terms of using different trading strategies.


What types of trading accounts does OANDA offer, and what are their features?

The broker offers different types of trading accounts to cater to the diverse needs of traders. The primary account types include standard accounts and premium accounts, each with its own set of features.


What features are available on OANDA’s trading platform, and is it suitable for both beginners and experienced traders?

The broker provides a user-friendly trading platform suitable for both beginners and experienced traders. The platform offers features such as real-time market quotes, charting tools, technical analysis, and risk management options.

How to open an Account with OANDA step by step

To register an account with OANDA, Botswana Traders can follow these steps:


Step 1: Click on Create account

 New traders must click the “Create account” button at the top of the website to be led to the account registration page.


How to open an Account with OANDA step by step 1


How to open an Account with OANDA step by step 1


Step 2: Fill in Registration form

Registration form asks customers to provide their country of residence and personal information (including name, country of residence, and telephone number).

Next, customers must verify their citizenship by providing their identification or tax number.

The next step requires that traders verify their residential address.

Finally, traders are expected to provide their work and financial information.


How to open an Account with OANDA step by step 2


Step 3: Fund their Accounts 

Traders who deposit less than USD 9,000 are not required to provide verification papers.

To approve you as an individual customer if you deposit more than USD 9,000, OANDA requires at least two papers, namely proof of identity and evidence of physical address.

Identification Documents — OANDA accepts any government-issued identification documents, such as a Passport, national ID card, or driver’s license. The document must be legitimate and include the trader’s complete name, date of birth, a clear picture, the date of issuance, and, if applicable, the expiration date.

Proof of Address – The proof of residence/address document must have been issued in the name of the OANDA account holder within the last three months and must include the trader’s complete name, current residential address, issuance date, and issuing authority.

Traders can fund their accounts when their applications have been accepted. Before you begin trading, you should review OANDA’s risk disclosure, client agreement, and terms of operation.


How to open an Account with OANDA step by step 4


OANDA Vs AvaTrade Vs easyMarkets – Broker Comparison

🥇 OANDA🥈 AvaTrade🥉 easyMarkets
📱 Trading Platform• MetaTrader 4
• MetaTrader 5
• OANDA Platform
• TradingView
• AvaTradeGO
• AvaOptions
• AvaSocial
• MetaTrader 4
• MetaTrader 5
• DupliTrade
• ZuluTrade
• easyMarkets Platform
• MetaTrader 4
• MetaTrader 5
• TradingView
💰 Withdrawal FeeYes, bank wireNoNone
📊 Demo AccountYesYesYes
📈 Minimum Deposit0 BWP1 342 BWP300 BWP ($25)
📊 Leverage1:200• 1:30 (Retail)
• 1:400 (Pro)
Up to 1:400
📊 SpreadVariable, from 0.1 pipsFixed, from 0.9 pipsFixed, 0.03 USD
💰 Commissions$40NoneNone
✴️ Margin Call/Stop-Out100%/50%• 25% – 50% (M)
• 10% (S/O)
💻 Order ExecutionMarketInstantMarket
💳 No-Deposit BonusNoNoNo
📊 Cent AccountsNoNoNo
📈 Account Types• Standard Account
• Core Account
• Swap-Free Account
• Standard Live Account
• Professional Account Option
• Standard Account (Web/App and MT4)
• Premium Account (Web/App and MT4)
• VIP Account (Web/App and MT4)
⚖️ CBN RegulationNoNoNo
💳 BWP DepositsNoNoYes
📊 Botswana Pula AccountNoNoNo
👥 Customer Service Hours24/524/524/5
📊 Retail Investor Accounts313
☪️ Islamic AccountYesYesYes
📉 Minimum Trade Size0.01 lots0.01 lots0.01 lots
📈 Maximum Trade Size1,000 lotsUnlimited50 lots
💰 Minimum Withdrawal Time1 business day24 to 48 HoursInstant
📊 Maximum Estimated Withdrawal Time7 to 10 business days10 business daysUp to 5 Days
💸 Instant Deposits and Instant Withdrawals?NoNoNo

Trading Platforms

Trading Platforms


OANDA’s technology and software offering is designed to develop itself around the correct strategy to safeguard the customer and his trades. As a result, the company adheres to narrower spreads, unique platforms across premium offerings, and automation of trading techniques.


The broker offers Botswana Traders a choice between these trading platforms:

➡️ MetaTrader 4

➡️ MetaTrader 5 (BVI Website)

➡️ OANDA Platform

➡️ TradingView


Desktop Platforms

Desktop Platforms


➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ OANDA Platform


MetaTrader 4

MetaTrader 4


OANDA provides one of the greatest MT4 upgrade packages with 28 plug-ins, even though the broker has developed its own unique trading platform.

In addition to OANDA trade, MetaTrader 4 (MT4) is available for individuals who do not prefer to utilize OANDA’s own platform. OANDA’s MetaTrader 4 platform has outstanding features, making it the forex traders’ top option.


Trading algorithms and backtesting functionality are included in the package, and there is full support for hedging-capable professional advisers and traders. Traders can use over 50 technical indicators, including the MT4 Order Book Indicator, to trade straight from the charts.

MT4 Plug-In features instruments such as intraday market scanning, automated chart pattern identification, and trade automation are also included and AutoChartist provides recurring market reports to traders.


MetaTrader 5

MetaTrader 5


With OANDA, in addition to the robust capabilities offered by the MetaTrader 5 platform, you can make use of additional features such as built-in depth of market, sophisticated trading tools, and enhanced charting capabilities.


With OANDA and MetaTrader 5, Botswanan traders can expect some of these features:

➡️ Technical system capacity

➡️ 21 charting timeframes

➡️ 6 different order times that let traders modify their orders

➡️ Access to MQL5

➡️ 38 built-in technical indicators alongside 44 analytical objects

➡️ The ability to accommodate multi-asset product suites

➡️ Efficient and faster threaded technology



OANDA’s “next generation” platform has been recognized with several accolades. It is equipped with a collection of features that may be used for trade management, sophisticated charting, and market analysis.

The trading environment provided by the platform is comfortable and adaptable for traders of varying levels of expertise. There are three different versions available: web, desktop, and mobile.


The online version runs completely inside the browser, and subsequently, it is compatible with all operating systems and most contemporary web browsers.

OANDA Forex Labs is an additional feature that was designed by OANDA. It is a one-of-a-kind institution that performs the most recent developments and showcases Forex Analysis, Signals, and FX Tools during the process of continuous improvement.

Additionally, there is the opportunity to test out the beta version of the newest tools and functionality.


WebTrader Platforms

WebTrader Platforms


➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ OANDA Platform

➡️ TradingView


MetaTrader 4

The MT4 trading platform is the most popular choice for trading foreign exchange (Forex), and it also has the capability of being used to trade other items, such as commodities, cryptocurrencies, stock indexes, and stock CFDs.

Even though it is beginning to show its age, MT4 is still widely used because of the auto trading capabilities that it offers. These characteristics make it possible to engage in algorithmic trading and to do strategy backtesting with expert advisers (trading robots).


MetaTrader 5

MetaTrader 5 is an updated, robust version of MetaTrader 4 that offers traders additional capabilities and features. MetaTrader 5 is available on most internet browsers, allowing traders to seamlessly manage and monitor their trading activities. Some of the powerful features that you can expect with OANDA and MetaTrader 5 are:

➡️ You can trade vast amounts in a single transaction using depth of market, and you can also check prices and spreads for larger sizes using this feature.

➡️ Because the economic calendar is already a part of MT5 for OANDA, you will find it much simpler to keep track of forthcoming events and news indicators that are connected to the market.

➡️ You can purchase and sell currency pairs with only one click thanks to the one-click trading feature and the market depth option.

➡️ Develop your own expert advisers using the MQL5 programming language to automate your trading strategy.

➡️ Discover the third-party market without leaving the comfort of the MT5 client interface.

➡️ Create your own unique technical indicators so you can do market analysis. You may backtest your trading techniques, along with other things.

➡️ Utilizing the automated chart pattern detection tool, do a market scan and analysis during the intraday trading session.



OANDA’s web platform can run from any browser despite the operating system of the computer or mobile device, given that the trader has a steady internet connection. The typical features of the OANDA Web-based platform include some of the following:

➡️ Capabilities for advanced technical analysis, with over ten different chart styles to choose from.

➡️ More than fifty different drawing tools and technical indicators are available for use while doing chart analysis.

➡️ An aggregator of news that includes a search feature.

➡️ Algo Labs provides access to algorithmic trading.

➡️ A stop-loss function is included in the risk management features.

➡️ An instrument for the analysis of trade performance

➡️ Layouts and user interfaces that are modifiable.

➡️ TradingView, which provides especially useful charting capabilities.

➡️ Traders can get market news and analysis as well as an economic calendar.



Most of the functionality that is available in the downloadable OANDA platform is also available in the web-based version of OANDA’s platform, and this includes charts from TradingView that consist of advanced studies and display styles.


Trading App

Trading App


➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ OANDA Platform


MetaTrader 4 and 5

OANDA provides support for the MT4 and MT5 mobile trading applications, which may be downloaded for free on iOS and Android devices. Traders should be aware that there is a certain loss in functionality when compared to desktop trading platforms.

However, Botswanan traders who use either MT4 or MT5 on mobile devices can still cancel and alter existing orders, compute profit and loss, and trade on the charts, despite this reduction in functionality, which includes fewer charting choices and time periods.



The mobile product that OANDA provides is an extension of its user-friendly desktop platform. The OANDA mobile app is fully capable of performing all trading operations, just like the desktop platform. Here are some of the best features of the OANDA mobile app:

➡️ Full charting capabilities. When it comes to its mobile product, OANDA does not skimp on the charting capabilities; rather, it replicates the full set of services offered by its desktop platform.

➡️ You may improve your trading by selecting from 9 diverse kinds of charts, gaining access to more than 50 different technical indicators, and charting tools, effortlessly editing numerous orders, and making use of over 32 overlays.

➡️ Analyse the performance of the analytics. The performance statistics offered by OANDA make it possible for you to monitor the growth of your forex trading profits and losses over time. View a breakdown of trading performance per instrument, including total and average per-trade earnings and losses, as well as other information that may be used to improve and adjust your approach over time.

➡️ Instantaneous updates on the market news. The market news feed that OANDA provides users with a source of immediate information about current events as well as professional comments from market analysts.

➡️ Reloading your news feed will allow you to observe how many minutes have passed since each story was posted.

➡️ On the smartphone app, you can also see an economic calendar that lists future events related to the market.


What trading platforms does OANDA offer, and are they suitable for different devices?

The broker provides traders with versatile trading platforms to suit their preferences and devices. The primary trading platform is the OANDA Trade platform, accessible through web browsers and featuring an intuitive interface, advanced charting tools, and risk management capabilities.


Can I use automated trading strategies on OANDA’s platforms?

Yes, traders on OANDA’s platforms have the option to utilize automated trading strategies. The OANDA Trade platform supports algorithmic trading through the use of application programming interfaces (APIs).

Range of Markets

Range of Markets


Botswana Traders can expect the following range of markets:

➡️ Index CFDs

➡️ Forex

➡️ Metals

➡️ Commodity CFDs

➡️ Bonds CFDs

➡️ Precious Metals

➡️ Real-time Rates


Financial Instruments and Leverage offered by OANDA

🔨 Instrument💰 Number of Assets Offered📈 Max Leverage Offered
➡️ Forex70+1:200
➡️ Precious Metals51:200
➡️ Indices161:200
➡️ Energies51:200
➡️ Bonds5
➡️ Agricultural Commodities51:100


Broker Comparison for Range of Markets

🥇 OANDA🥈 AvaTrade🥉 easyMarkets
➡️️ ForexYesYesYes
➡️️ Precious MetalsYesYesYes
➡️️ ETFsNoYesNo
➡️️ CFDsYesYesYes
➡️️ IndicesYesYesYes
➡️️ StocksYesYesYes
➡️️ CryptocurrencyYesYesYes
➡️️ OptionsNoYesNo
➡️️ EnergiesYesYesYes
➡️️ BondsYesYesNo


What financial instruments are available for trading on OANDA’s platform?

OANDA offers a diverse range of markets for traders to engage in. Traders can access and trade a variety of financial instruments, including major and minor currency pairs, commodities, indices, and precious metals. The extensive range of markets provides traders with ample opportunities to diversify their portfolios and participate in different segments of the financial markets.


Can I trade cryptocurrencies on OANDA’s platform?

Yes, traders can trade cryptocurrencies.

 Trading and Non-Trading Fees




OANDA is well-known for its attractive spreads on all financial products. According to OANDA, there are market moments when spreads may be greater, such as when markets open and shut, as well as when important international or geopolitical events occur.

OANDA offers traders two price options: spread-only pricing with fee and core spread pricing. The fee that would normally be paid is included in the spread with spread-only pricing, making it the trader’s sole trading cost.


Traders may also take advantage of decreased spreads via their spread-only accounts. Traders will only be charged a fee per transaction, and the total trading cost will be the whole relevant spread + commission.


A $40 fee is imposed for every million USD transacted, with core price spreads beginning at 0.1 pips. Traders might anticipate the following typical spreads:

➡️ Standard Account – from 1 pip

➡️ Core Account – from 0.1 pips

➡️ Swap-Free Account – from 1.6 pips





When Botswanan traders use the Standard or Swap-Free Account, they are not charged any commissions on their trades because the broker fee is already included in the spread that they pay. However, because the Core Account has tighter spreads, a commission fee of $40 is imposed on every 1 million of the base currency that is traded.


Overnight Fees, Rollovers, or Swaps

Overnight Fees, Rollovers, or Swaps


Except for the Japan 225 Index, which is paid per 100 lots traded, traders using the Swap-free account have access to 26 popular products, but they must pay fees ranging from $4 to $7 for each lot traded. These fees will be paid to a Muslim trader who has a position open for longer than five days.

Overnight costs on forex pairs are derived by averaging the underlying liquidity providers’ tom-next SWAP rates, compensating for the instrument-specific admin charge, and then annualizing the findings.


Rates include a 2.5% administrative fee and the appropriate yearly financing rate in terms of indices. This is represented as a negative rate, which translates to the fees being deducted.

The average overnight cost for popular items like EUR/USD is a long rate of -2.03% and a short rate of -0.03%. This amounts to a long position costing -$6.36 and a short position costing -$0.09.


Deposit and Withdrawal Fees

Deposit and Withdrawal Fees


OANDA does not impose any deposit fees, but bank wire transactions are subject to a $20 cost.


Inactivity Fees

Inactivity Fees


On trading accounts that have been idle for 12 consecutive months, an inactivity fee is imposed monthly. Inactivity costs of up to $10 per month are deducted until the account balance reaches zero, at which point the account is immediately cancelled.


Currency Conversion Fees

Botswanan traders subject to a conversion fee when they deposit or withdraw monies from their trading account in a currency other than the allowed account currencies.


What are the trading fees on OANDA, and how are they structured?

OANDA employs a transparent fee structure, primarily consisting of spreads on trades. The spread is the difference between the buying (ask) and selling (bid) prices of an instrument. OANDA is known for competitive and variable spreads, and the specific spread for each asset can be found on the trading platform. Additionally, OANDA may charge financing fees (swap rates) for positions held overnight, and these rates vary based on market conditions.


Are there any non-trading fees that traders should be aware of on OANDA’s platform?

OANDA may charge non-trading fees, and traders should be aware of potential costs beyond spreads. Non-trading fees may include overnight financing fees for positions held overnight, and these fees vary depending on the instrument. Inactivity fees might apply if an account remains dormant for a specified period.

Deposits and Withdrawals

Deposits and Withdrawals


They offer the following deposit and withdrawal methods:

➡️ Local Transfers

➡️ Debit Card

➡️ Credit Card

➡️ Bank Wire

➡️ Bank Transfers

➡️ Skrill

➡️ Neteller

➡️ Mobile Bank Transfers

➡️ International e-Wallets


Broker Comparison: Deposit and Withdrawals

🥇 OANDA🥈 AvaTrade🥉 easyMarkets
Minimum Withdrawal Time1 business day24 to 48 HoursInstant
Maximum Estimated Withdrawal Time7 to 10 business days10 business daysUp to 5 Days
Instant Deposits and Instant Withdrawals?NoNoYes


OANDA Payment Method, Deposit and Withdrawal Processing

💳 Payment Method🔁 Deposit Processing💳 Withdrawal Processing
Local Transfers1 business day1 to 10 business days
Debit Card1 business day1 to 10 business days
Credit Card1 business day1 to 10 business days
Bank Wire1 business day1 to 10 business days
Bank Transfers1 business day1 to 10 business days
Skrill1 business day1 to 10 business days
Neteller1 business day1 to 10 business days
Mobile Bank Transfers2 to 5 working daysUp to 14 days
International e-Wallets12 to 48 hours2 to 3 working days


What deposit methods are available on OANDA’s platform, and are there any fees associated with deposits?

Te broker supports various deposit methods to facilitate funding for traders. The available deposit options may include bank transfers, credit/debit cards, and potentially other electronic payment methods.


How can I initiate a withdrawal from my OANDA trading account, and are there withdrawal fees?

Withdrawing funds from your OANDA trading account can usually be done through the user account interface on the platform. Traders can initiate a withdrawal by selecting the desired withdrawal method and specifying the amount. OANDA aims to process withdrawal requests promptly.

How to Deposit Funds 

How to Deposit Funds 


To deposit funds to an account with OANDA, Botswana Traders can follow these steps:

➡️ Log into the OANDA portal and select “Fund Account” which can be found on the dashboard.

➡️ A new menu will load from where you can choose your preferred deposit method.

➡️ From here, you can proceed by entering your deposit amount and following any additional steps that may be required by your chosen payment provider, allowing you to confirm and finalize the deposit.

Fund Withdrawal Process

Fund Withdrawal Process


To withdraw funds from an account with OANDA, Botswana Traders can follow these steps:

➡️ Access your trading account by logging into your OANDA portal.

➡️ In the relevant drop-down box, choose either “Withdrawal” or “Withdraw funds.”

➡️ Choose the mode of withdrawal and/or the account to which the funds will be withdrawn (if more than one option is available)

➡️ Enter the amount that you would want to withdraw, as well as a brief reason or explanation if you are requested to do so.

➡️ Submit your request to OANDA.

Education and Research

Education and Research



OANDA is a broker that offers educational materials and webinars that are tailored to the level of expertise of the participant, ranging from beginner to expert, which is why beginner and experienced traders choose OANDA.


OANDA offers the following Educational Materials:

➡️ Introduction to Trading Analysis

➡️ Introduction to the trading platforms

➡️ Introduction to Capital Management

➡️ Live and Recorded Webinars


Research and Trading Tool Comparison

🥇 OANDA🥈 AvaTrade🥉 easyMarkets
➡️ Economic CalendarYesYesYes
➡️ VPSYesNoNo
➡️ AutoChartistYesNoNo
➡️ Trading ViewYesNoYes
➡️ Trading CentralNoYesYes
➡️ Market AnalysisYesYesYes
➡️ News FeedYesYesYes
➡️ BlogYesYesYes


The broker provides competitive research, some of which is done in-house on the company’s MarketPulse blog, and some of which is done in collaboration with third-party sources. Clients are given access to daily market analysis and the following:

➡️ MetaTrader Premium Tools

➡️ Technical analysis offered by AutoChartist

➡️ VPS

➡️ Economic Calendar


What educational resources does OANDA provide for traders?

The broker is committed to supporting trader education and provides a range of educational resources. Traders can access tutorials, webinars, articles, and other learning materials directly through the OANDA website. These resources cover various topics, including trading strategies, market analysis, risk management, and platform tutorials.


Does OANDA offer research tools and market analysis for traders?

Yes, they provide traders with a suite of research tools and market analysis features. Traders can access real-time market news, analysis, and commentary directly on the OANDA platform. The platform also includes advanced charting tools with technical analysis indicators, helping traders make informed decisions.

Bonuses and Promotions

Bonuses and Promotions



The broker offers Botswana Traders the following bonuses and promotions:

➡️ Welcome Bonus of up to $1,000 on your first deposit when you register a retail trading account with OANDA. This bonus is also available to existing clients who have an account but who have not yet deposited funds.

➡️ Referral Bonus of up to $1,000 for both the referring trader and their referral. To qualify, referrals must register an OANDA Global Markets Account through the BVI entity and deposit at least $200. Furthermore, the referral must trade a notional volume of 200,000 units of the base currency (two standard lots) within 30 days of registration. If the referral deposits more capital and they trade a higher volume, the referring trader and referral can earn more on this bonus.


Does OANDA offer bonuses or promotions to traders?

Yes, the broker offers bonuses and promotions.


Are there any loyalty programs or incentives for long-term OANDA traders?

OANDA may not have a traditional loyalty program or incentives based on trading volume or tenure.

How to open an Affiliate Account 

How to open an Affiliate Account 


To register an Affiliate Account, Botswana Traders can follow these steps:

➡️ Visit OANDA’s website and access the Partner’s Section under the main menu.

➡️ Complete the application form that loads with all relevant information, read the Affiliate Terms and Conditions, and submit the form.

➡️ Alternatively, you can also join the affiliate program by contacting OANDA’s Partners department via email.


OANDA Affiliate Program Features

OANDA Affiliate Program Features


The OANDA partner program is the official affiliate program for the OANDA brand that operates all over the world. It is widely regarded as one of the affiliate programs in the financial sector that is both the most successful and lucrative.

OANDA’s affiliate program allows for partners to earn up to US$600 for each eligible trader from a developing market that they bring to the attention of the company.


Each partner in the OANDA program is given a specialized affiliate manager who is responsible for helping with the platform as well as advice on how to improve their digital presence.

Affiliates may also monitor referrals on OANDA’s innovative affiliate portal, which gives them access to an efficient package of marketing materials meant to assist optimize conversion. These assets range from digital banner advertisements to landing pages that work very well.


Another benefit of the OANDA affiliate program is that participation in the program is cost-free for partners.

10 Best Forex Brokers in Botswana for 2024





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Customer Support

Customer Care


With OANDA, Botswanan traders have access to 24/5 multilingual customer support through various communication channels including live chat, email, telephone, and social media platforms.


Customer SupportOANDA’s Customer Support
⏰ Operating Hours24/5
🗣 Support LanguagesEnglish, Chinese, German, Spanish
🗯 Live ChatYes
📧 Email AddressYes
☎️ Telephonic SupportNo
📞 Local Support in Botswana?No
🥇 Overall quality of OANDA Support3.6/5

Corporate Social Responsibility

There is currently no information available on the active CSR projects or initiatives that OANDA is involved in.

Our Verdict 

OANDA is a CFD and forex broker that is the best option for new traders who are looking for a user-friendly platform and solutions, mobile traders who want a comprehensive and robust trading app while they are on the move and experienced traders who want a wide range of charting tools, indicators, and a range of markets.

OANDA is a well-known and well-established online forex broker with a robust trading platform suitable for both novice and experienced forex traders. The desktop interface has a comprehensive set of charting tools and indicators, but the mobile version lacks none.


Under the US OANDA companies, leverage ratios are common for US-based brokers, but other locations, such as the BVI, have access to larger ratios of up to 1:200.

You will also get access to a wide choice of financial products that may be traded through three dynamic live trading accounts. In addition, TradingView provides social trading assistance as well as a full collection of instructional tools for novices.


Experts will appreciate the desktop and mobile programs’ hidden treasures, such as sophisticated charting capabilities and free overlays. Overall, OANDA is a well-rounded trading provider with an extremely high trust score and some of the best trading conditions in the world.

Pros and Cons

✔️ Pros❌ Cons
There is an enormous range of currency pairs that can be traded along with several other asset classesThere are several ancillary fees charged
OANDA is multi-regulated, multi-asset, and multi-award-winning, giving it a high trust score and a good reputationThere is no dedicated BWP-denominated account for Botswanans
There is a comprehensive yet user-friendly proprietary trading platform offered alongside MT4 and MT5There is an inactivity fee charged
OANDA has an incredibly competitive pricing environment and is suited to both beginner and expert traders alikeThere are withdrawal fees applied
OANDA is one of a few brokers that accept US clients in addition to global traders through various entities based around the world
There are superior research offerings and robust trading tools offered
There is no set minimum deposit requirement, giving Botswanans flexibility with how much they wish to invest
There is complete transparency in the trading and non-trading fees charged, with no hidden charges

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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.

Frequently Asked Questions

Is OANDA regulated?

Yes, OANDA is regulated in Canada, Australia, the United States, the United Kingdom, Japan, Singapore, Malta, and the British Virgin Islands by these market regulators:

  • Investment Industry Regulatory Organization of Canada (IIROC)
  • The Australian Securities and Investments Commission (ASIC)
  • The Commodity Futures Trading Commission (CFTC)
  • National Futures Association (NFA)
  • Financial Conduct Authority (FCA)
  • Financial Futures Association of Japan (FFAJ)
  • Japanese Financial Services Authority (JFSA)
  • Monetary Authority of Singapore (MAS)
  • Malta Financial Services Authority (MFSA)
  • British Virgin Islands Financial Services Commission (BVI FSC)


What is the withdrawal time with OANDA?

While OANDA typically tries to process all withdrawals as soon as they are received, the typical withdrawal time is between one business day to 10 business days.


Does OANDA take commissions?

Yes, OANDA takes commissions. Core Pricing plus Commission is one of the trading options provided by OANDA. In return for the payment of a flat fee for each transaction, this pricing option gives clients a narrower spread in comparison to the spread that they would get with OANDA’s spread-only pricing account.


Can I open an account with OANDA?

Yes, but you must be above the age of 18 and a legal resident of the country from where you are seeking to apply.

In addition, OANDA will only ask questions that are relevant to your application and are required by law. Prepare to submit identification and address documentation, such as your entire passport or national ID card.


Is OANDA safe or a scam?

OANDA is one of the safest brokers in the industry with a trust score of 92 out of 100. In addition, OANDA is also regulated and authorized by eight Tier-1 regulators (IIROC, ASIC, CFTC, NFA, FCA, FFAJ, JFSA, and MAS) as well as two Tier-3 regulators (MFSA and BVI FSC).


Does OANDA have Nasdaq?

Yes, Nasdaq forms a part of OANDA’s Index CFD portfolio under “NAS100”.


Does OANDA have Volatility 75?

Unfortunately, OANDA does not currently offer Volatility 75 (VIX) to traders. However, several other indices can be traded as CFDs.


Does OANDA have an inactivity fee?

Yes, there is an inactivity fee charged by OANDA if your account is dormant for 12 months. After 12 months, a monthly fee of 10 units of the base account currency will be deducted until the balance reaches zero and the account is closed.


Does OANDA allow scalping?

Yes, OANDA allows any given trading strategy (including scalping) if traders avoid using illegal means to try and manipulate the platform.


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.

9.5/10 - (2 votes)

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