Trading

Our charges and fees

Learn about our charges and fees so you know exactly how much you are paying when you trade with us.

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Deposits and withdrawals

Depending on your method of deposit, you may be charged a fee by the sending bank for depositing and withdrawing funds into your OANDA Australia trading account.

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Credit card

Your credit card provider may charge you a transaction fee and international processing fee. Please check with your credit card provider to determine the charges.

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Debit card

It is possible that you may be charged a service fee by your bank when you are depositing funds by debit card to your OANDA account.

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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.

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Bank wire transfer

Your bank may charge a service fee for depositing funds into your account.

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Our financing fees

We apply a holding/duration charge or credit for positions kept over time. These are calculated in relation to positions maintained continuously. View fees

For deposits by debit card, we do not charge for your first withdrawal in a calendar month. All OANDA applied fees and company bank fees with a valid receipt are waived for premium clients.

Inactivity fees

An inactivity fee is a monthly charge that is levied on your account if there has been no trading activity for a period of 12 months. Please note, inactivity fees will not be charged when there is an open position.

When inactivity fees are due, they are levied first on the client’s sub-account with the smallest balance and continue to be debited from sub-accounts until a maximum of AUD10 per client has been debited each month. The amount claimed is converted to each sub-account’s home currency.

Inactivity fees will be applied to inactive accounts on the third last weekday of each month.

Levying of inactivity fees will not result in a negative balance on any of your accounts.

Your account will be charged until one of the following conditions are met:

  • You close your account
  • You resume trading on your account
  • The balance on your account is reduced to zero.

If you have resumed trading after inactivity fees have been levied, you can request a rebate of up to 3 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%.

For example, placing a EUR/JPY trade in a USD-based account. Your trade settles in JPY and is then immediately converted to USD at the JPY/USD mid-price +/-0.5%.

If this trade resulted in JPY10,000 of profit, the cost of converting it back to USD would be approximately USD0.47 based on current market rates at the time of calculating.

See an example of how currency conversion is calculated in our FAQs section below.

Frequently asked questions

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How can I fund my OANDA trading account?

To initiate your first deposit into your OANDA trading account, simply select the ‘manage funds’ tab after logging in to your account. This takes you to the My Funds page, where you can make deposits, withdrawals and transfers between your accounts.

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How can I withdraw my funds from my OANDA account?

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, clients are able to request a withdrawal to any verified bank account. Find out more about how you can withdraw funds from your account.

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What are holding charges?

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.

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What are currency conversion 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.

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When do currency conversion charges apply?

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. It is applied to any realised profits and losses, adjustments, fees and charges that are denominated in a currency other than the account’s home currency and as such, needs to be converted to the account’s home currency.

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How is currency conversion calculated?

Let’s say you have an account denominated in GBP. Below is the methodology of how OANDA clients’ transactions are converted to the account’s home currency:

Formula:

New bid = midpoint price x (1 - x%)

New ask = midpoint price x (1 + x%)

Where x% = 0.50%

Midpoint price = (ask + bid)/2

Examples

A client has 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

OANDA’s methodology is to charge a mark-up/mark-down of 0.5% on the midpoint price for the currency conversion to a client’s account’s home currency:

Midpoint 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 a client’s 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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What are financing costs?

Financing costs can affect your cost of trading, so it's important to understand how financing works.

Core and premium accounts

Institution-grade execution, 24-hour support, a range of platform features and account advantages.

Depositing and withdrawing funds

It is simple and straightforward to deposit and withdraw funds to and from your OANDA account.