How is OANDA as a broker?
OANDA is a good broker and also listed in top broker list.
OANDA is a superior broker, and in my opinion, the best!
I have been using Oanda for a fairly long while now and I’ve never had any issues. You can deposit as little or as much as you want, you can trade with micro lots - ridiculously small amounts of money, and it’s very easy to setup your account and fund it.
The broker interface for trading is very easy to use, and the transactions are instantaneous, provided your internet connection isn’t having any issues of course 
The spreads are exceptionally low, and you will be hard pressed to find lower ones elsewhere (EUR/USD usually 1.2 pips, GBP/USD usually 2 pips etc).
My only recommendation is that you either use Metatrader 4 simultaneously as your charting software, or make use of OANDA’s connection to the Metatrader 4 platform for executing trades straight from the charts, as the OANDA Java charts are not all that nice.
Enjoy! 
I’ve only used Oanda on demo but I must say, they are quite good. In summary, from my point of view:
[B][U]Pros[/U][/B]
- low spreads. Some of the lowest amongst other competitors
- MT4 platform available
- honest in that you’ll get your money back. Some of these other bucket shop brokers, you could spend your time working hard to earn a profit only to find out that after working your ass off to get a profit they are now giving stories when it comes to withdrawing your funds.
- invest a minimal amount as you like
- they have fxtrade apps for you to trade on your phone (be it droid, iOS whatever). This is quite cool for me since it allows me monitor my trades even when I’m a work. But for detailed analysis you’ll probably need to use a proper MT4 platform and charts and indicators and stuff
[B][U]Cons[/U][/B]
- low leverage 1:50. But then again leverage is a double edged-sword and can be used to your benefit or to your detriment. But still, I personally like to have the option of going all out when I want to.
- they are a market maker type of broker. This basically means that they trade against you. Anyway, I dont really understand how this works but I just dont like the sound of a broker trading against you.
Other than that I think that they are a good broker and if you want to be sure about not losing your money (through the broker just refusing to give you back you money) I would definitely recommend Oanda.
My favorite broker and the only one I trade live with.
Have been using Oanda for around a year now. Overall find them to be good, though some things to consider would be they increase their spreads to 10pips on news events, and I’ve experienced ‘slow’ executions now and then (though this may be an issue with my connection). You’ll also want to use MT4; their platform is an eyesore…HTH