Broker: OANDA

Visited on: September 6^th, 2019

Conclusion: the broker really exists

 

On-the-spot investigation

From regulatory information, we learned that OANDA’s licensed branch in Singapore is at 50 Collyer Quay #04-03, Oue Bayfront. WikiFX recently visited OANDA at the location.

 

We arrived at 50 Collyer Quay, a magnificent building located in the financial hub at the centre of Singapore and surrounded by several landmarks near Marina Bay. The Oue Bayfront area has a strict access control system to ensure security, so we weren’t able to get into OANDA’s office. But from the building’s reception, we learned that OANDA’s office is indeed located here, and the fact that OANDA has its office inside a building with a modernized and luxuriously-furnished lobby in such an expensive area suggests the company is of considerable size and strengths. We thus conclude that OANDA’s branch in Singapore really exists.

 

Analysis

OANDA is yet another broker that WikiFX visited in Singapore. Though the number of forex brokers in Singapore is not very large, most of them enjoy good reputation and decent ratings. This can be largely attributed to the strict regulation system of Monetary Authority of Singapore (MAS). Since its establishment, MAS has been continuously improving its mechanism and innovating its regulatory infrastructures and policies, and all these efforts further consolidated Singapore’s role as a financial centre in Southeast Asia.

 

According to OANDA’s website, it is a leading company in currencies data and forex trading that offers investors and other financial institutions leveraged trading, money transfer and data services. Through its development in the past 22 years, OANDA has grown from a technology start-up to a leading global company with branches in the US, UK and Singapore, holding licenses from 5 major regulators. Per checking regulatory information, OANDA has MAS (Singapore)’s license for retail forex brokerage and is qualified for forex related business.

 

Conclusion

The WikiFX App shows OANDA to be under valid regulation. Having been in business for over 15 years, the broker holds MM licenses from ASIC (Australia), FCA (UK) and NFA (US) and retail forex brokerage licenses from FSA (Japan) and MAS (Singapore). OANDA is currently rated at 8.9 on the WikiFX App, suggesting considerable credibility; but as the broker has received 18 investor complaints in the past 3 months, we remind investors to be careful in choosing this broker and ensure their assets’ safety during the investment.

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