Our charges and fees

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.

You can withdraw funds from your account via various means, for example: PayPal and bank wire transfer.

Select the ‘manage funds’ tab after logging in to your account. This takes you to the My Funds page.

Please note that withdrawals are subject to our hierarchy rules. If you have deposited funds using multiple methods, you must withdraw the total sum deposited by each means in a set order, for example: first by PayPal and then by bank wire transfer. 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 on the midpoint price at the time of conversion. This is the mark-up/mark-down portion applied to currency conversion rate.

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.

Let’s say you have an account denominated in GBP. You open a long position on 1 unit of US Wall St 30 @ 29,000 and close your trade at 29,100, generating a profit of USD100.

The cost of converting USD100 profit back to your home currency (GBP) would be GBP0.39, based on current market rates at the time of calculating.

How this is calculated

In order to convert USD100 of profit to your account home currency (GBP), you would use the USD/GBP exchange rate plus the currency conversion fee.

Let’s assume the USD/GBP exchange rate is:

Bid: 0.77000

Ask: 0.77005

In this case, the profit is a credit to the account, so the bid price is used (if it had been a debit as a result of a loss, the ask price would have been used):

Profit converted to GBP without the mark-up = 0.7700 X 100 = GBP77.00.

We charge a mark-up on the mid-price for the currency conversion to your account’s home currency:

Formula:

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

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

Where x% = mark-up (0.50%)

Midpoint price = (ask + bid)/2

Midpoint price = (0.77000 + 0.77005)/2 = 0.770025

Calculation:

Fee adjusted exchange rate to convert USD to GBP = 0.770025 x (1 - 0.5%) = 0.766174875.

The USD100 of 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 = GBP76.61.

This is GBP0.39 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.

See our full list of frequently asked questions.