Trade popular cryptos with a user-friendly app
You can now trade a batch of popular cryptos on OANDA's mobile app or intuitive platform with powerful tools.
- No mark-up on your crypto trades
- Globally recognized forex broker
- Excellent customer service
- Easy account opening
Excellent customer service from a globally recognized forex broker
We are a known FX broker in the US, trusted and regulated for over 25 years. As FX experts, we have won awards for customer service and customer satisfaction, and are now applying this expertise in cryptos. We enable you to open an account with our crypto services partner, Paxos, and access crypto pricing straight from Paxos's itBit exchange.
3 simple steps to activate your spot crypto account
Once you have a live account with OANDA, you can download the OANDA mobile app. If you are logging in from your desktop, go to the OANDA account management website. You will see a message that prompts you to open a crypto account with Paxos Trust Company, OANDA’s crypto services provider.
Next, your request will be reviewed by Paxos. This usually takes about 15 minutes. Upon approval, tap complete application.
Bitcoin and Bitcoin Cash
You can trade Bitcoin using our mobile app, with commissions as low as 0.25%, among some of the lowest levels in the industry.
Trade the increasingly popular cryptocurrency, Ethereum, against the US dollar, also with attractive spreads and low commissions.
PAX Gold and other coins
You can also trade PAX Gold, a coin backed by real gold reserves, Litecoin, Aave, Chainlink, Matic, Uniswap and Solana - all against the US dollar. Backing by gold reserves does not guarantee against losses.
What is cryptocurrency trading?
Coins or tokens involve buying an amount, or fraction, of say, Bitcoin, and holding that investment, for example, in an account at a cryptocurrency exchange, with a cryptocurrency custodian, or in a digital wallet, until you want to sell. Cryptocurrencies are traded against the US dollar, much in the same way as you would trade forex, buying or selling according to market movements. Through OANDA's partnership with Paxos, you can spot trade cryptocurrencies on Paxos's itBit exchange through our OANDA platform.
A digital token backed by physical gold
PAX Gold (PAXG) is a digital asset built on the Ethereum blockchain. With low investment minimums, PAXG allows you to own an asset backed by LBMA-accredited London Good Delivery gold bars, stored in Brink’s vaults in London when you buy PAXG. You can access a top-of-book spread with a low commission, and there are no additional charges for fiat deposits and withdrawals from your Paxos account.
Key benefits of trading cryptocurrencies through the OANDA app:
- User-friendly app with charting and access to two-way streaming prices
- Easy, low-cost account funding and withdrawal
- Fund your crypto account in the same easy and low-cost way as your forex account
- Manage risk using limit and stop orders
Download the app from Google Play or the App Store
All digital asset transactions occur on the Paxos Trust Company exchange. Any positions in digital assets are custodied solely with Paxos and held in an account in your name outside of OANDA Corporation. Digital assets held with Paxos are not protected by SIPC. Paxos is not an NFA member and is not subject to the NFA’s regulatory oversight and examinations.
Key features of trading cryptocurrencies through OANDA:
Everything is managed within your OANDA app. Trading is conducted with Paxos
Generally higher volatility than traditional currencies^
Trading during normal trading hours and over the weekend
*Awarded highest overall client satisfaction (Investment Trends 2021 US Leverage Trading Report, Margin Forex), Voted Most Popular Broker 2021 and Best Forex Broker 2021 (TradingView Broker Awards 2021).
References to awards obtained by OANDA are for our business as a forex broker and do not relate to our digital assets business.
^Higher volatility often means higher risk of loss.
Frequently asked questions
Am I eligible to trade cryptocurrencies?
Only individual live trading accounts with OANDA Corporation can opt to open a crypto account with our crypto services provider, Paxos Trust Company, which provides all exchange and custody services for trading and holding cryptocurrencies. The activation of your crypto account is subject to approval by Paxos.
Corporate accounts, Individual Retirement Accounts (IRA), Eligible Contract Participant (ECP) accounts and Legal Entity accounts are not eligible at this time.
How can I trade spot cryptocurrencies through OANDA Corporation?
All eligible clients of OANDA Corporation can trade spot cryptocurrencies through our mobile platform. Currently, you cannot trade spot 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.
How many crypto trading accounts can I have?
You can open only one crypto account.
Which cryptocurrencies can I trade in?
Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ave, Chainlink, Matic, Uniswap, Solana and PAX Gold, which is backed by real gold bullion.
Which order types can I use for trading cryptocurrencies?
At this point, we are supporting 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. Thus, 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. Thus, 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.
- Any pending buy limit, sell limit or sell stop order will be executed even during maintenance hours.
What are the minimum and maximum order sizes?
Minimum and maximum order sizes depend on the instrument you want to trade in.
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.
What is the maximum position size?
OANDA enables you to place 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.
What is the applicable pricing?
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.
How can I deposit to or withdraw from my Paxos crypto account?
At this time, you can’t directly deposit or withdraw funds from your Paxos crypto account. To fund your crypto account, you can transfer funds from your forex accounts. Similarly, to withdraw from your crypto account, you can transfer funds from your crypto account to your forex account.
Note: You can transfer or withdraw from your forex account only if the funds are fully settled. Instant ACH credits received in your forex account can’t be transferred to your crypto account.
For more information, refer to our deposit and withdrawal guides.
Is leverage trading available?
For trading in spot cryptocurrencies, leverage is not available. You can only trade with the funds you have.
Can I short sell?
You cannot short sell.
Where can I find my transaction or account statement?
Daily statements will be sent to your email address if there is any deposit or withdrawal on your Paxos crypto account, or if you have any holdings. You will also receive monthly statements.
What are the hours of operation?
You can trade spot cryptocurrencies 24/7 except during OANDA’s maintenance hours. For more information, refer to our website.
What is the financing cost?
When you buy cryptocurrencies in the spot market, you get immediate delivery. Hence, there is no financing cost.
What does a ‘fork’ mean in blockchain?
A fork is when there is an update or change to the blockchain software that results in a split in the blockchain network. The result of a fork is that a new second cryptocurrency will be created on that forked blockchain.
What is an ‘airdrop’?
An airdrop is a marketing event where, to promote a new digital currency, an issuer may send coins or tokens to wallet addresses of members of the blockchain community. This may be for free or in return for a small service.
What does a ‘fork’ or ‘airdrop’ mean to me?
All exchange and custody services for trading and holding cryptocurrencies are provided by Paxos, our crypto 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.
Globally recognized forex broker
Trade popular cryptos through our user-friendly app, as well as over 70 forex pairs, using a range of trading platforms including OANDA Trade and MT4.
Depositing and withdrawing funds
It is simple and straightforward to deposit and withdraw funds to and from your account.
When can I trade with OANDA?
Our operation hours coincide with the global financial markets. Find out when you can trade with us.