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.
Free deposits and withdrawals
We like to keep things simple. That’s why we won’t charge you for depositing or withdrawing funds from your OANDA account*.
*You may be subject to charges from your bank.
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 Corporation trading account.
Bank wire transfer
We don’t charge a fee for accepting wire transfer deposits. But 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.
Debit card and ACH
We don’t charge a fee for accepting deposits via debit card and ACH bank transfers. But your bank may charge a service fee when you deposit funds by debit card or ACH.
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 continuously.
Inactivity fees
An inactivity fee is a monthly charge of 20 USD 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 your sub-account with the smallest balance and continue to be debited from sub-accounts until a maximum of 20 USD 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:
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
On your forex accounts, when you trade an instrument in a currency that is different from your account currency, the realised profit or loss and any associated adjustments will be converted to the currency of your account at our prevailing currency exchange rate. This rate is calculated by applying a 1.0% mark-up or mark-down (depending on whether a debit or credit is to be applied to your account) to the midpoint price (buy + sell price divided in half) at the time of conversion. Please note, this fee applies only on v20 (Forex) accounts, it does not apply on MT5 spot crypto accounts.
See an example of how currency conversion is calculated in our FAQs section below.
Frequently asked questions
To initiate your first deposit into your OANDA trading account, simply log in to ‘manage funds’ using your OANDA account details. You can deposit funds using a debit card, bank wire transfer and automated clearing house (ACH).
See our funding and withdrawals page for more information.
You can withdraw funds from your OANDA account via debit card and bank wire transfer. Funds can be withdrawn by logging in to ‘manage funds’ using your OANDA Trade account details. Remember: withdrawals are subject to our hierarchy rule. If you have deposited funds using multiple methods, you must exhaust the total deposit amounts first by debit card, and then followed by bank wire transfer. Find out more about how you can withdraw funds from your account.
Our funding rates for forex consist of a blend of underlying liquidity providers’ tom-next swap rates and an administration fee.
On your forex accounts, trading products in a different currency from your account's home currency will incur a currency conversion charge. OANDA charges a 1.0% 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 on your forex accounts, 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.
The following formula shows how your transactions are converted 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 (1.0%)
Midpoint price = (ask + bid)/2
Example:
Let’s assume you have a forex account denominated in USD. You open a long position of 10,000 EUR/GBP at 0.88500 and close it at 0.89500. You generate a profit of 100 GBP.
The fee of converting the 100 GBP profit back to your account currency (USD) is 1.29 USD.
To convert the 100 GBP of profit to your home account currency (USD), you need to use the GBP/USD exchange rate plus the currency conversion fee.
Let’s assume the GBP/USD exchange rate is:
- Bid: 1.29530
- Ask: 1.29550
In this case, the profit is a credit to the account, so the bid price is used (if it was a debit as a result of a loss, the ask price would be have been used):
Profit converted to USD without the mark-up = 1.29530 x 100 = 129.53 USD.
However, we charge a mark-up on the mid-price for the currency conversion to your account’s home currency:
Midpoint price = (1.29530 + 1.29550)/2 = 1.2954.
The 100 GBP profit on the trade will result in a credit to your USD-denominated account of:
1.282446 x 100 = 128.24 USD.
Home currency conversion fee = Profit converted to USD without the mark-up (129.53 USD) - Profit converted to USD with the mark-up (128.24 USD) = 1.29 USD.
This is 1.29 USD less than using the straight exchange rate and represents the cost of trading in GBP when the account is denominated in USD for this example.
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