Only those who have live trading accounts with OANDA Corporation can choose to open a crypto trading account with our crypto services provider, Paxos Trust Company, which provides all crypto exchange and custody services for trading and holding cryptocurrencies. The activation of your crypto trading account is subject to approval by Paxos.

If, for any reason, your live forex trading account is terminated, your crypto account will also be terminated (which will include the enforced closure of any remaining open crypto positions).

Corporate accounts, Individual Retirement Accounts (IRA), Eligible Contract Participant (ECP) accounts, and Legal Entity accounts are not eligible at this time.

All eligible clients of OANDA Corporation can spot trade cryptocurrencies through our mobile platform. Currently, you cannot spot trade cryptocurrencies through our web, MT4, and third-party platforms.

To get started, activate your crypto account with Paxos from the HUB or our mobile platforms

You can open only one crypto trading account.

Through Paxos, we offer some of the world’s most popular cryptocurrencies including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Aave, Chainlink, Uniswap, and PAX Gold. Like with any trade, do your research and consider factors affecting which crypto is ‘best’ to buy right now before you trade.

We support the following order types:

• Quick buy: This order type is similar to a market order, except that it is placed on the exchange as a limit order to reduce potential price slippage.
• Quick sell: This order type is the same as a market order.
• Buy limit: We allow you to place buy limit orders. You can place a buy limit order at a price lower or higher than the current market price. Your order will be executed at the specified price or better (lower than the specified price). A limit order will execute immediately if it matches up with an existing offsetting order(s) on the order book, or it will rest on the order book if it does not execute immediately.
• Sell limit: We allow you to place aggressive sell limit orders. You can place a sell limit order at a price higher or lower than the current market price. Your order will be executed at the specified price or better (higher than the specified price).
• Sell stop: You can place a sell stop order at a price lower than the current market price. A sell stop order is subject to slippage.

Note: Any pending buy limit, sell limit, or sell stop order will be executed even during maintenance hours.

Minimum and maximum order sizes depend on the cryptocurrency you want to trade.

On the OANDA mobile platform, the minimum and maximum order sizes are shown in the instrument information section as minimum volume and maximal volume, respectively.

OANDA lets you place crypto orders up to a maximum position size on a per symbol basis.

On the OANDA mobile platform, it is shown as Max Position Size in the instrument information section.

There is no spread markup or custody fee on crypto trades. A 0.25% fee, subject to a minimum fee of US$0.01, applies to all executed crypto orders.

The fee (in USD) is calculated as 0.25% * order quantity * fill price.

For more information, visit our deposit and withdrawal guides.

For trading in spot cryptocurrencies, leverage is not available. You can only trade with the funds you have.

You cannot short sell crypto with OANDA.

Daily statements will be sent to your email address if there is any deposit or withdrawal on your Paxos crypto trading account, or if you have any holdings. You’ll also receive monthly statements.

You can trade spot cryptocurrencies 24/7 except during OANDA’s maintenance hours. For more information, find our hours of operation.

When you buy cryptocurrencies in the spot market, you get immediate delivery. This means there is no financing cost.

A fork is an update or change to the blockchain software, either in the form of a soft fork or hard fork. A soft fork refers to minor updates to the blockchain, while a hard fork results in a split in the blockchain network. The result of a fork is that a new second blockchain will be created on that forked blockchain.

An airdrop is a marketing event where, to promote a new digital currency, an issuer may send coins or tokens to the wallet addresses of members of the blockchain community. This may be for free or in return for a small service.

All exchange and custody services for trading and holding cryptocurrencies are provided by Paxos, our crypto trading services provider. Paxos evaluates forks and airdrops on a case-by-case basis. Should such an event occur, Paxos shall have the sole discretion to take any action with or without any advance notice to you, notwithstanding that they are under no obligation to take such action.

There are many factors that can affect your decision to buy cryptocurrency, regardless of when you choose to purchase. Some of these elements include the legitimacy of a cryptocurrency, the purpose of the blockchain project, the coin’s liquidity and price history, as well as your risk tolerance. Be sure to do your research into a cryptocurrency before trading.

Crypto mining is the process of validating transactions on a blockchain. Once the transactions have been validated and a new block is added to the blockchain, the crypto miner will receive a cryptocurrency coin as their reward for completing the work. Depending on the blockchain, crypto miners will receive different types of cryptocurrency.

Cryptocurrency exchanges, just like forex and stock exchanges, allow you to buy or sell different types of cryptocurrency. Some crypto exchanges also allow you to buy or sell other crypto assets, such as NFTs.

There are two types of crypto wallets: hot wallets and cold wallets.

Hot wallets are software-based wallets that are permanently connected to the internet. This makes them easier to use but potentially more vulnerable to hackers. Cold wallets are hardware-based wallets that you connect to the internet only when you need to perform certain tasks. This makes them more secure than hot wallets.

Whether you choose a hot or cold wallet will depend on a variety of factors, such as how frequently you perform trades, what level of security you require, how much you’re willing to spend on a crypto wallet, and what types of blockchains and cryptocurrencies a wallet supports.