Can I buy or trade Crypto with OANDA?
OANDA does not directly offer cryptocurrency trading or investing through its MT4 platform. They only offer 4 crypto CFDs (contracts-for-difference) for Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC) and Ethereum (ETH). This is an expensive and outdated way to invest in cryptocurrencies, with spreads starting at 1% and fees as high as 0.5% per trade.
How to trade Crypto with OANDA
If you want to trade cryptocurrencies with OANDA, you need to open a live account and deposit at least $250. Then, go to the ‘CFDs’ tab on their platform and select the ‘crypto’ drop-down menu. You can now trade BTC/USD, BCH/USD, ETH/USD, and LTC/USD pairs.
How to buy Bitcoin or Crypto with an OANDA Alternative
The best alternative to buy, sell and trade over 70 Cryptocurrencies and 7,000 Stocks, ETFs, Commodities, Bonds, Currencies, and more is eToro. They are the world’s leading social trading platform, with over 20 million registered users. The company has been operational since 2007 and is regulated by CySEC, FCA, and ASIC.
You can get started with this simple guide:
- Create an account: Sign up to the eToro platform and verify your identity (personal or company).
- Fund your account: Select the 'Deposit Funds' button on the bottom of your screen to deposit USD, EUR, GBP, or AUD from your Bank Account, Debit Card, Credit Card o PayPal Account.
- Find Crypto: Once the funds hit your account, find the Crypto you want to buy on the eToro platform with their 'Discover' tab.
- Execute your trade: Input the fiat amount you want to buy and execute your trade.
OANDA is a global leader in currency data, offering forex & CFD trading, corporate fx payments and exchange rates services for a wide range of organizations and investors. Through its award-winning online trading platform, clients can trade over 100 instruments including currency pairs, precious metals, indices and commodities.
The company is a registered Futures Commission Merchant (FCM) with the Commodity Futures Trading Commission (CFTC) and a member of the National Futures Association (NFA) (ID 0308179). The company is also registered with the Financial Conduct Authority (FCA) of the United Kingdom and is a member of the Investor Compensation Fund (ICF).
OANDA is a market maker and a trusted source for currency data. It has been connecting people through trading financial markets for over 20 years. OANDA's vision is to revolutionize the world of online trading by making it more accessible, transparent, and fair for everyone. The company's mission is to provide a superior trading experience through innovative technology, low spreads and exceptional customer service.