OANDA Review 2026
Full OANDA review for Canada traders — regulation, spreads, fees and our honest verdict.
Regulation in Canada
| Regulator | IIROC — Investment Industry Regulatory Organization of Canada (IIROC) |
| Licence Number | N/A |
| Regulated Entity | OANDA (Canada) Corp |
| Max Leverage (Forex) | 1:30 |
| Minimum Deposit | $0 |
| EUR/USD Spread | From 1.2 pips |
| Instruments | 300+ |
| Platforms | OANDA Trade, MT4, MT5, TradingView |
| Copy Trading | ✗ |
| Real Stocks | ✗ |
| Inactivity fee | Inactivity fee: USD10/month after 12 months |
Verdict
Regulated by IIROC (licence N/A). Minimum deposit $0. In Canada: maximum forex leverage 1:30.
About OANDA
OANDA was founded in 1996 and is headquartered in New York, USA. The broker offers 300 tradeable instruments including forex pairs, CFDs on stocks, indices and commodities. It is regulated across multiple jurisdictions with a primary licence held by OANDA (Canada) Corp under IIROC.
In Canada, OANDA operates as OANDA (Canada) Corp, authorised by IIROC under licence number N/A. Canada traders are subject to a maximum leverage of 1:30 on forex pairs under IIROC rules.
Trading Platforms
Pros
- IIROC regulated — licence N/A
- 300+ instruments to trade
- Negative balance protection in Canada
- Platforms: OANDA Trade, MT4, MT5, TradingView
Cons
- Inactivity fee: USD10/month after 12 months
- 67.4% of retail clients lose money
- CFD trading — you do not own the underlying asset
- No real stock ownership
Key Facts About OANDA
- One of first retail forex brokers — founded 1996, operates in 8 global markets
- Proprietary currency data powering OANDA FXConverter used by thousands of businesses
- No minimum deposit — one of few major regulated brokers with no minimum
Known Limitations
- Does not accept clients from many emerging market countries
- MT4 available but OANDA's proprietary platform has limited advanced charting vs competitors
- Spreads during off-peak hours can widen significantly
Frequently Asked Questions
Is OANDA regulated?
OANDA holds IIROC licence N/A, issued to the regulated entity {entity}. This is a real, verifiable licence recorded in the official IIROC public register.
What is the minimum deposit for OANDA in Canada?
The minimum deposit is $0. This is the amount required to open a live trading account for traders in Canada under IIROC regulation.
What leverage does OANDA offer in Canada?
In Canada, OANDA offers maximum forex leverage of 1:30 under IIROC rules. Higher leverage may be available through offshore-regulated entities.
Is OANDA safe to trade with?
OANDA is regulated by IIROC, which requires segregated client funds, negative balance protection and independent audits. Regulation does not eliminate trading risk, but it provides meaningful investor protection.
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