Our charges and fees
Find out about our charges and fees so you know exactly how much you are paying when you trade with us.
Deposit and withdrawal costs
We do not charge deposit fees. Please note however, that you may be charged by your payment provider or bank when depositing funds into your account.
Credit card
Your credit card provider may charge transaction and international processing fees. Please check with your credit card provider to determine the charges.
Debit card
Your bank may charge you a service fee when you use your debit card to deposit funds in your OANDA account.
Internet banking transfer
Your bank may charge a service fee for depositing funds into your account. Intermediary banks may also deduct fees, resulting in a smaller incoming amount.
Bank wire transfer
Your bank may charge a service fee for depositing funds into your account.
Our financing fees
We apply a holding/duration charge or credit for positions kept open over time. These are calculated in relation to positions maintained on a continuous basis rather than a daily basis.
Inactivity fees
An inactivity fee is a monthly charge we apply to your account if you haven’t traded for a period of 12 months. We won’t charge inactivity fees when you have open positions.
When inactivity fees are due, we’ll first charge your sub-account with the smallest balance and continue to debit from sub-accounts until a maximum of AUD 10 has been debited each month. The amount we claim will be converted to each of your sub accounts’ home currency.
We’ll apply inactivity fees to inactive accounts on the third last weekday of each month. Charging inactivity fees won’t result in a negative balance on any of your accounts.
We’ll stop charging inactivity fees when you meet one of the following conditions:
Resumed trading?
If you have resumed trading after inactivity fees have been levied, you can request a rebate of up to three months’ worth of the inactivity fees based on how many months you have been charged. If you would like to deposit funds into your account and continue to trade, please refer to our 'How to fund your account' FAQ.
Currency conversion fees
When you trade an instrument in a currency that is different from your account currency, the realised profit or loss, fees and/or commissions related to trading instruments which have a different quote currency to your account currency will now incur a conversion charge. This charge is based on the prevailing mid-price of the applicable FX spot rate for the conversion, plus an additional spread of 0.5%.
See an example of how currency conversion is calculated in our FAQs section below.
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FAQs
To initiate your first deposit into your OANDA trading account, simply select the ‘manage funds’ tab after logging into your account. This takes you to the ‘My Funds’ page, where you can make deposits, withdrawals and transfers between your accounts.
You can withdraw funds from your OANDA account via credit/debit card, online banking and bank wire transfer. Funds can be withdrawn by selecting the ‘manage funds’ tab after you log in to your OANDA account, this brings you to the ‘My Funds’ system.
Irrespective of funding method, you can request a withdrawal to any verified bank account. Find out more about how you can withdraw funds from your account.
We apply a holding/ duration charge or credit for positions kept open over time. These are calculated in relation to positions maintained on a continuous basis rather than a daily basis. View fees.
Trading products in a different currency from your account's home currency will incur a currency conversion charge. OANDA charges a 0.5 % mark-up/mark-down on the midpoint price of the applicable currency at the time of conversion.
Home currency conversion charges are applicable only when a trade/transaction is conducted in a different currency to the account’s home currency, and therefore needs to be converted to that home currency.
We apply it to any realised profits and losses, adjustments, fees and charges that are denominated in a currency other than the account’s home currency and needs to be converted to the account’s home currency.
Let’s say you have an account denominated in GBP. Below is the methodology of how your transactions are converted to the account’s home currency:
Formula:
New bid = mid-point price x (1 - x%)
New ask = mid-point price x (1 + x%)
Where x% = 0.50%
Mid-point price = (ask + bid)/2
Examples:
Let’s say you have an account denominated in GBP. You opened a long position on 1 unit of US Wall St 30 @ 29,000 and closed your trade at 29,100, resulting in a profit of USD100.
Let’s assume the USD/GBP exchange rate is:
Bid: 0.77000
Ask: 0.77005
We charge a mark-up/mark-down of 0.5% on the mid-point price for the currency conversion to your account’s home currency:
Mid-point price = (0.77000 + 0.77005)/2 = 0.770025
Fee adjusted exchange rate to convert USD to GBP = 0.770025 x (1 - 0.5%) = 0.766174875
So, the USD100 profit on the trade will result in a credit to your account when it is denominated in GBP of: 0.766174875 X 100 = 76.61 GBP.
This is 0.39 GBP less than using the straight exchange rate and represents the cost of trading in USD when the account is denominated in GBP for this example.
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