Oanda has both advantages and disadvantages.
On one side, there is $1 minimum trade size, low spreads, multiple currency accounts and pretty good trading tools... Plus OANDA is registered with the U.S. Commodity Futures Trading Commission (CFTC) as a Futures Commission Merchant (FCM) and is a member of the National Futures Association (NFA # 0325821).
On the other side, Oanda takes quite a lot of each withdrawal transaction
Bank Wire Fee
Account First Withdrawal (Fee)
EURO €20
USD USD $20
CAD CAD $20
CHF Swf $20
GBP £ 10
JPY ¥2,000
AUD $20
Additional Withdrawals
Fee + €15
Fee + $15
Fee + CAD $20
Fee + Swf 20
Fee+ £10
Fee + ¥2,000
Fee + $20
Also, to deposit funds you can only use bank wire, check, or PayPal... and unfortunately no credit card (damn!)
