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Oanda.com

A currency conversion website

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A gadget for all travelers!

  • May 10, 2011
Rating:
+5
Oanda.com is a currency trading site whereby one can get a reasonably good indication of forex market and currency conversion for free. I've used this site for the longest period of time as a guide to the daily and real time rate of foreign exchange. It is one where I'd normally refer to just before I venture to my neighborhood money changer.

Well, if you're a traveler like I'm, then it is a highly useful site for you. Oanda.com provides the cross rates for many different currencies in the world, even some of the least popular currencies. Before I summarizes what I do like about this particular site, as opposed to site like xe.com, let it be known that Oanda is actually the short form for the company headquartered in Toronto, Olsen and Associates. The company was founded in 1995 by Richard Olsen and associates.















The beauty of Oanda lies in its simplicity and ease of navigation. Whatever your reasons for visiting the site, you will be able to find it with ease.

May be you're a forex dealer, may be a traveler or may be you're involved in international trade or merely an accountant who needs to check out the forex movement for your company and projects. Whatever your background is, this is a site not to be missed as it helps you in your work and leisure quite a great deal!

Here's what I truly like about Oanda.com:
  1. Oanda provides a reasonably good indicative rates. Your bank will charge you some 1-2% less favorably than the rate offered on Oanda but it shouldn't be more than that.
  2. Oanda's currency converter is easily accessible with bid & ask rates for two currencies of your choice; some of the least likely currencies like Albenian Lek, Tunisian Dinar, etc, etc are available and it's real time!
  3. The chart and rates for the last 90 days are open to the public and for free too! Anything that's free gets my vote for it! ;-)
  4. Oanda's currency table allows you to obtain a multi-currency table of exchange rates based on one currency. I've only recently discovered this tool although it's been there all along. You do have to go over individually and see what tools are to your liking! There are certainly plenty and it's like a great adventure one is on when one goes on Oanda.com!



Now, if that's not enough, there are other web tools which you can explore if you like. Since I don't trade currencies online or offline, I can't give you much information for you on that! I had seen those on Reuters but the way Reuters charges financial institution, I doubt  you'd be willing to pay for that kind of money unless you're an institutional trader!

Oanda does have a mobile apps which I am sure you'll download
  1. Android Currency Converter
  2. Blackberry Currency Converter
  3. iPhone Currency Converter
  4. Windows Phone 7 Currency Conveter

If you'd like to know more about Oanda as a corporation and its historical background, check this out.


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July 24, 2011
This would be very helpful for travelers everywhere.
 
May 11, 2011
Sounds awesome! Downloading their iPhone app :)
 
May 10, 2011
yeah, definitely a must for travellers...very cool!
 
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About the reviewer
Sharrie ()
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I'm a traveler at heart & have been nicknamed Travel Queen by friends & colleagues alike. Traveling has been my life passion for the last decade or so. As we enter a new decade, I'm excited … more
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Wiki

OANDA Corporation is a financial services provider of currency conversion, online retail foreign exchange (forex) trading, online foreign currency transfers, and forex information. It is one of the largest non-bank Futures Commission Merchants (FCMs) that specializes solely in spot forex trading. OANDA is a registered FCM with the Commodity Futures Trading Commission (CFTC) and a member of the National Futures Association (NFA).

The name OANDA is short for "Olsen And Associates" named after the founder.

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