Oanda actually started life as a currency conversion provider. As such, Oanda's main business was converting and transfering huge sums of money for large corporations such as Samsung Malaysia. Oanda not only offers their services as forex broker (Oanda FXTrade) but also transfers funds (Oanda FXGlobal Transfer).
Oanda is a very big player in the global online forex trading broker business. They offer very competitive spreads and are immensely popular among online forex traders. Oanda has won numerous awards such as the 2009 World Finance's Forex Award, the 2009 Treasury Today Adam Smith Award as well as the 2008 Euromoney Award For Excellence. High praise indeed and it shows because Oanda FXTrade is an immensely popular product for the online forex trading masses. They are hugely popular due to their competitive spreads, security and the wide base currency available. Oanda's platform is web-based so customers can log into their accounts anywhere in the world as long as they have a computer with an internet connection. Oanda also offers managed accounts for account managers. The owner of the account must give permission to the manager to trade the account while a percentage of the profits go to manager. This amount is set by the owner of the account. The minimum deposit for a Oanda FXTrade account is $1 USD. Yes, with as little as a dollar you can begin trading through Oanda. Interest payments are made every second. Most other brokers pay interest once a day.
