OANDA Commission or Brokerage Charges – Review, Plans, FAQs & more
Find out all details about Oanda Commission or Brokerage Charges here. Oanda is an American forex broker that was founded in 1996 by Dr. Stumm and Dr. Olsen.
The company is regulated by the top six tire security authorities including the UK’s Financial Conduct Authority, the National Futures Association, and US Commodity Trading Futures Commission.
The company offers many research tools, market news, and market analysis along with all its trading applications. Company offers better than average rates.
The FxTrade trading platform is quite good and offers excellent options for algorithmic trading.
In terms of US customer funds, the company ranks second in the list.
Oanda has a list of exclusive financial instruments that have been developed mostly for seasonal traders who are looking for a spectacular desktop training experience.
The trading company provides fast and reliable trading execution, a functional user interface, research instruments according to industry rules, and a verified record of regulatory oversight.
The trading firm offers various trading tools that include a trading platform, algorithmic trading, account management, and meta trader access.
Oanda has also added an MT4 trading platform for all the users to prefer.
Oanda Commission or Brokerage Charges
Every trading company charges differently for the various services that they provide to all its customers.
So to help you understand the trading charges, go to the next points.
All trading companies charge a specific amount anytime when you trade with them. These trading charges are called commissions, spreads, conversion charges, and finance rates.
- Some other non Trading fees that are charged are withdrawal fees or inactivity fees.
- In this part of the article, we would be discussing the commission charges for each asset class. For example, whenever you are Trading in Forex or stock index using Oanda, the spread charges, commission, and finances rates are pretty important.
- When it comes to the commission charges, the company is quite popular due to its low charges.
- Spreads: The spread charges are the fees that the client has to pay while trading. The chargers are compatible with forex.com and FX Pro. The minimum spread cost available or the lowest advertised rate by the company is less than 1.0pip.
- Micro lots: In almost all the cases, one micro lot is the lowest or the smallest contract size for trading in Forex. But in the case of Oanda, the broker brings down the minimum trade size by almost three orders of magnitude, that is 1 unit or 0.001 micro lot.
- Transparency: As a part of its greater transparency with all its clients, the company periodically publishes a trailing average of its average spread across all the market time frames.
- The company charges an inactivity fee of 10 units in terms of your currency if there are no open trades in your account for at least 12 months.
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Types of Oanda Commission Plans
|Types of Commission Plans|
|Account Type||Standard Account||Premium Account|
|Initial Deposit||0||$20,000 USD|
If a customer wishes to open a Standard Trading Account with Oanda, there is no initial deposit. No details about the spread charges, commission, and leverage are available.
The Standard Account has been developed for beginner-level traders.
Whenever a customer wishes to open a Premium Account, the minimum initial deposit is 20,000 US dollars.
This type of account has been developed for all professional users who want to gain more profit by trading with Oanda.
Oanda Account Opening Process
The account opening process with Oanda Trading Company is pretty easy and the step can be completed within 10 minutes. Follow the next steps carefully.
- First of all, visit the official website of Oanda and click on open a trading account. When you click on it, a new tab will open.
- In this new tab, an application form will open. Here You have to fill up the application form with all the necessary details like your name, phone number, address and then click on submit. Remember to fill in all the details correctly as this is necessary for verification.
- Once you click on submit, you will be redirected to the KYC page where you have to upload a scanned copy of a government authorized identity card for verification.
- Upon successful verification, The Trading Company would send you your login credentials via your email address or mobile number.
- Now you can download the trading mobile application or trading platform from the official website of the company. You can also log in using a web browser using the credentials provided by the company.
- After successful login, you can start trading using any of the mentioned ways.
Oanda Payment or Withdrawal Methods
|Deposit Options||Credit Card, PayPal, Wire Transfer|
|Withdrawal Options||Credit Card, PayPal, Wire Transfer|
Whenever you start trading, you would need to deposit funds in your trading account. Some companies directly allow you to trade from your bank or use digital wallets.
But in this case, Oanda Trading Company follows certain payment methods.
For example, whenever you plan on depositing, you can deposit using your credit card, paper account, and wire transfer.
After you have gained a Standard amount of profit by trading, you can withdraw the money which is stored in your account.
You can withdraw directly to your bank account using a credit card, PayPal, and wire transfer. However, the company does not charge any amount for withdrawals.
If these methods are not available in your country, contact the concerned authorities at Oanda.
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Oanda Investment Assets
|Total Tradable Assets||NA|
|Number Of Currency Pairs||NA|
|Number Of Cryptocurrencies||NA|
|Number Of Stocks||NA|
|Number Of Indices||NA|
|Number Of Commodities||NA|
|Number Of Futures||NA|
|Number Of Options||NA|
|Number Of Bonds||NA|
|Number Of ETFs||NA|
The traders who have registered themselves with Oanda Trading Company, are allowed to trade in various assets that have been mentioned in the list above.
The traders are allowed to trade in currency trading, commodity trading, indices trading, cryptocurrency trading, and many more.
The trading process is pretty simple and the user interface of all the trading applications and platforms provided by the company is quite user-friendly.
Oanda Commission – Conclusion
Oanda is a well-known forex trader. The company promises a user-friendly trading platform where you will get to learn to trade quickly and easily.
Special trading instruments and exclusive research tools are available to all the traders who have registered themselves with the company.
The account opening process is quite easy and fast. The company’s pricing transparency, global regulatory oversight, and platform technology give all the investors comfort during the process of trading.
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Oanda Charges or Fees – FAQs
Here is the list of FAQs on Oanda Brokerage Charges or Fees:
Does Oanda charge commission?
The Trading Company offers different commission charges for different types of trading assets or trading accounts.
The company lets you know all the trading charges whenever you start trading with the company or open an account.
The commission charges are quite low simply making the company one of the most favorite ones in the trading market.
How much does Oanda charge brokerage?
They charge different brokerage amounts depending on the type of asset you are trading in or on the type of trading account which you have opened.
For more details on the brokerage charge, you have to get in touch with the company.
What is the Minimum Deposit required in Oanda?
The minimum deposit or initial deposit amount varies depending on the type of trading account which you are opening with the company.
For example, if you are opening a standard account, there is no minimum initial deposit.
So the beginner-level brokers can easily open a standard account with the company.
For the premium account, the minimum initial deposit is $20,000 US dollars.
How much leverage does Oanda provide?
The leverage charge varies periodically and depends on the type of trading account that you have registered with the company or the trading asset in which you are trading.
For more details on the leverage, charge get in touch with the officials at the company.
How much is Spread at Oanda?
The spread charge is the minimum charge that the trader has to provide to the company to avail trading benefits.
The spread charge is always less than one pip.
What type of Commission Plans available in Oanda?
The commission plans that are available for the traders who have registered themselves with the company vary on the type of trading account.
For more details on the commission, you can contact the company.
Does Oanda provide Cryptocurrency for Investment?
The company allows all its users to trade using cryptocurrencies.
The cryptocurrencies can also be used for investment and during the withdrawal process you can convert the cryptocurrencies to your desired local currency.
Is Oanda a legit Forex Broker?
Oanda is a registered legal forex broker.
The company is regulated and monitored by a six tire authority that includes UK’s Financial Conduct Authority, the National Futures Association, and US Commodity Trading Futures Commission.
Can I invest in Oanda with $5?
There is no minimum initial deposit whenever you are trading with the company. In the standard account, the traders can start trading even with $1.
But if you are planning to trade using a premium account the minimum initial deposit is $20,000.
Are there any hidden charges available with Oanda?
The company promises total transparency of all the charges.
There are no withdrawal charges but the company charges an activity fee along with all the commissions that have been mentioned.
The trading fee is quite reasonable and is lower than any other Ford explorer in the market.
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