Oanda is one of the biggest names in the Forex trading industry as shown by our Oanda Review.
Many Options traders wonder whether Oanda offers options trading or not.
This article answers this question and several others.
Let’s get started!
Does Oanda Offer Options Trading?
Oanda is a broker that offers hundreds of tradable assets on several markets. But many traders, especially from the US, would like to trade options with Oanda.
However, Oanda doesn’t offer Options for trading on its platform.
On the other hand, every trader that operates on Oanda can invest in many other instruments such as indices, commodities, Forex, bonds, and in some locations, crypto.
Oanda Options Alternatives
While Oanda doesn’t allow options trading on its platform, some other brokers do. Here are the best 3 alternatives you should consider when it comes to options trading:
- IG Markets
IG Markets has been in the Forex industry for years. Just like Oanda, the broker is available in the USA too. The market-maker CFD broker offers trading options through spread bets or CFDs through a proprietary platform.
It also offers its users the possibility to trade major stock market indices, shares, and Forex and choose from daily, weekly, monthly, and quarterly options.
AvaTrade is a market-maker CFD broker that offers competitive fixed spreads and 40 Forex options. To increase its users’ chances of making profitable trading decisions, it provides professional risk management tools to mitigate trading risks. It is also a great proprietary platform AvaOptions.
- Interactive Brokers
This is another Forex broker with a presence in the United States. It charges commissions from $0.15 to $0.65 per US option contract and allows traders to trade options globally on more than 30 market centers.
It is a professional trading platform with advanced options trading tools to make trading this instrument a lot easier and boost traders’ profit-making chances.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs.
You should consider whether you can afford to take the high risk of losing your money
What does Oanda Offer in Terms of Markets?
Oanda’s offerings include more than 100 instruments consisting of over 70 currency pairs. That is aside from the following instruments as CFDs:
- 4 US bonds and 1 UK bond.
- 31 commodities, including 24 metals.
- 2 cryptocurrencies, depending on your location.
- 16 index.
If you wish to know more about its offering, you should absolutely visit the official Oanda Website (73.5% of retail CFD accounts lose money).
On the site, you’ll find spreads from 0 Pips on Forex with no added commissions if you operate the Oanda Standard Account.
For more information about the available account types and pricing, read our Oanda Account Types guide.
Oanda Options FAQs
Some of the frequently asked questions by Forex traders considering using the Oanda broker are:
Does Oanda have Options trading?
Oanda doesn’t offer Options trading.
Is Oanda only for Forex?
Forex isn’t the only investment opportunity you can find on Oanda. Alongside Forex, the broker also offers the following assets as CFDs: commodities, bonds, indices. If your location permits, you may find cryptocurrency too.
Thus, while Oanda doesn’t offer Options trading, some other brokers such as the ones mentioned here do. More so, you can find a wide range of Forex instruments and CFDs to trade on the Oanda. The choice is yours.