Oanda offers a good number of account types:
- Oanda Demo account
- Oanda Standard account
- Oanda Core account
- Oanda Spread Betting account
- Oanda Islamic account
- Oanda Premium account
- Oanda Premium Core account
- Oanda Advanced Trader account
- Oanda Professional account
What types of trading accounts are available at Oanda?
Below you will find a complete list of all account types available to traders on Oanda, with details on features and useful information for choosing.
Some trading features and financial instruments may not be available to all traders according to your country of residence and the regulator you fall under. Such as leverage for retail clients in Europe, UK and Australia is up to 1:30.
Oanda standard account: Best for all traders
- Availability: Under MFSA, FCA, ASIC, MAS, JFSA, NFA, CIRO (former IIROC), BVI.
- Markets: Forex, indices, commodities, metals, bonds, cryptocurrencies (200+ assets in total).
- Commissions: Floating spread from 0.6 pips. Rollover fees apply on positions held open overnight.
- Platforms: MT4, MT5, Oanda WebTrader.
- Trade size: From 1 unit.
- Leverage: Up to 1:20 (MAS), up to 1:25 (JFSA), up to 1:30 (MFSA, FCA, ASIC), up to 1:50 (NFA, CIRO) up to 1:200 (BVI).
- Account opening: Demo account is unlimited and there is no minimum deposit when switching to a live account.
Oanda Core account: Best for short-term traders
- Availability: Under ASIC, BVI.
- Markets: Forex, indices, commodities, metals, bonds, cryptocurrencies (200+ assets in total).
- Commissions: Charging spreads from 0.1 pips + $3.50 (0.2 pips + $4.0 under BVI) commission per round per lot; open positions overnight entail rollover fees.
- Platforms: MT4, MT5, Oanda WebTrader.
- Trade size: From 1 unit.
- Leverage: Up to 1:30 (ASIC), up to 1:200 (BVI).
- Account opening: Unlimited demo account; no minimum deposit for a live account.
Oanda Spread Betting account: Best for UK traders
- Availability: Under FCA.
- Markets: Forex, indices, commodities, metals, bonds (200+ assets in total).
- Commissions: Spread starting value is 0.8 pips; rollover fees apply on open positions overnight.
- Platforms: MT4, Oanda WebTrader.
- Trade size: From 1 unit.
- Leverage: Up to 1:30.
- Account opening: An unlimited demo account is available; no minimum deposit to proceed to a live account.
Oanda Islamic account: Best for Muslim traders
- Availability: Under BVI.
- Markets: Forex, indices (25+ assets in total).
- Commissions: Spreads are only floating from 1.6 pips; there is an admin fee for positions held open for longer than 5 days.
- Platforms: MT4.
- Trade size: From 1 micro lot.
- Leverage: Up to 1:200.
- Special features: Swap-free trading.
- Account opening: There is an Islamic demo account; a live account requires no minimum deposit. You can trade without account verification with a balance under $9,000.
Oanda Premium account: Best for high-volume traders
- Availability: Under CIRO (former IIROC), BVI.
- Markets: Forex, indices, commodities, metals, bonds, cryptocurrencies (200+ assets in total).
- Commissions: You will get charged spreads from 0.8 pips; rollover fees on positions open for consecutive days.
- Platforms: MT5, Oanda WebTrader.
- Trade size: From 1 nano lot / from 1 unit.
- Leverage: Up to 1:50 (CIRO), up to 1:200 (BVI).
- Account opening: Free unlimited demo account available with no minimum deposit requirement to switch to a live account.
Oanda Premium Core account: Best for high-volume traders
- Availability: Under BVI.
- Markets: Forex, indices, commodities, metals, bonds, cryptocurrencies (200+ assets in total).
- Commissions: Spread from 0.2 pips + $3.50 commission per round per turn; rollover fees apply on open positions overnight.
- Platforms: MT5, Oanda WebTrader.
- Trade size: From 1 nano lot / from 1 unit.
- Leverage: Up to 1:200.
- Account opening: You can first try a demo account and then proceed to a live account with no minimum deposit.
Oanda Advanced Trader account: Best for high-volume traders
- Availability: Under NFA.
- Markets: Forex, indices, commodities, metals, bonds, cryptocurrencies (100+ assets in total).
- Commissions: On this account, there is a spread from 0.6 pips; open positions overnight come with rollover fees.
- Platforms: MT4, Oanda WebTrader.
- Trade size: From 1 nano lot / from 1 unit.
- Leverage: Up to 1:50.
- Special features: Must keep a $10,000 minimum balance and trade more than $10 million notional or equivalent per month.
- Account opening: Free demo available; no minimum deposit needed for a live account.
Oanda professional account: Best for professional traders
- Availability: Under MFSA, FCA, ASIC.
- Markets: Forex, indices, commodities, metals, bonds, cryptocurrencies (100+ assets in total).
- Commissions: Spreads are charged starting from 0.6 pips; trading overnight entails rollover fees.
- Platforms: MT4, Oanda WebTrader.
- Trade size: From 1 unit.
- Leverage: Up to 1:100.
- Account opening: You have to meet certain conditions to be eligible; the demo account is unlimited, and there is no minimum deposit requirement to switch to a live account.
What happens to inactive Oanda trading accounts?
Oanda charges an inactivity fee of $10 on accounts that register no trading activity for longer than 12 consecutive months.
Anytime you open a trade you register a trading activity, as such your account will result in activity.
In case your balance falls to zero, Oanda has the right to close your account. You can however open a new one.
If you have resumed trading after inactivity fees have been levied, you can request a rebate of up to 3 months’ worth of the inactivity fees based on how many months you have been charged.
You should contact customer service for further assistance.