Oanda provides a range of trading account types tailored to different trader profiles, including beginners, retail traders, high-volume professionals, and fund managers.
Available accounts include the Standard Account (ideal for all traders), the Core Account (ideal for short-term traders), the Spread Betting Account (exclusive to UK traders), the Premium Account and the Premium Core Account (ideal for high-volume traders), and the Islamic Account (swap-free for Muslim traders). Advanced traders and money managers can access the Advanced Trader Account and the Professional Account, which offers higher leverage, lower margin requirements and additional benefits.
Each Oanda account type has distinct pricing models and offers platform compatibility across MT4, MT5 and Oanda WebTrader.
The availability of the Oanda account types is subject to Regulatory compliance, trader expertise, and regional restrictions.
What types of trading accounts are available at Oanda?
The Oanda account types are listed below.
- 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
Oanda Standard Account: Best for all traders
The OANDA Standard Account is suitable for all traders and offers access to over 200 assets. It features floating spreads starting from 0.6 pips, with rollover fees applicable to positions held overnight. Traders can utilize platforms such as MT4, MT5, and OANDA WebTrader, with trade sizes starting from 1 unit.
The features of the Oanda Standard Account are listed below.
- 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
The OANDA Core Account is designed for short-term traders. It offers spreads from 0.1 pips plus a commission of $3.50 per round turn per lot, with rollover fees for overnight positions. Supported platforms include MT4, MT5, and OANDA WebTrader.
The features of the Oanda Core Account are listed below.
- 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
The OANDA Spread Betting Account is tailored for UK traders and allows tax-free spread betting on over 200 assets, such as forex, indices, commodities, metals, and bonds. Spreads start from 0.8 pips, with rollover fees for positions held overnight.
The features of the Oanda Spread Betting Account are listed below.
- 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
The OANDA Islamic Account is intended for Muslim traders seeking swap-free trading and offers access to over 25 assets, such as forex and indices. It provides floating spreads from 1.6 pips, with an administrative fee for positions held open longer than 5 days. The MT4 platform is supported, with trade sizes starting from 1 micro lot and leverage up to 1:200.
The features of the Oanda Islamic Account are listed below.
- 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
The OANDA Premium Account is geared towards high-volume traders and offers access to over 200 assets, such as forex, indices, commodities, metals, bonds, and cryptocurrencies. It features spreads from 0.8 pips, with rollover fees for positions held overnight. Supported platforms include MT5 and OANDA WebTrader.
The features of the Oanda Premium Account are listed below.
- 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
The OANDA Premium Core Account is also designed for high-volume traders. It offers spreads from 0.2 pips plus a $3.50 commission per round turn, with rollover fees for overnight positions. Platforms supported are MT5 and OANDA WebTrader, with trade sizes from 1 nano lot (1 unit) and leverage up to 1:200.
The features of the Oanda Premium Core Account are listed below.
- 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
The OANDA Advanced Trader Account is suited for high-volume traders in the U.S. and offers access to over 100 assets, such as forex, indices, commodities, metals, bonds, and cryptocurrencies. It features spreads from 0.6 pips, with rollover fees for positions held overnight.
The features of the Oanda Advanced Trader Account are listed below.
- 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 $10 million notional or equivalent per month.
- Account opening: Free demo available; no minimum deposit needed for a live account.
Oanda Professional Account: Best for professional traders
The Oanda Professional Account caters to high-volume traders who meet specific eligibility criteria. It offers higher leverage options and tailored services, depending on the client’s location and regulatory requirements.
The features of the Oanda Professional Account are listed below.
- Availability: Under MFSA, FCA, ASIC.
- Markets: Forex, indices, commodities, metals, bonds, cryptocurrencies (100+ assets in total).
- Commissions: Spreads are charged starting from 0.6 pips; trading overnight entails rollover fees.
- Platforms: MT4, Oanda WebTrader.
- Trade size: From 1 unit.
- Leverage: Up to 1:100.
- Account opening: You have to meet certain conditions to be eligible; the demo account is unlimited, and there is no minimum deposit requirement to switch to a live account.
How to compare the Oanda trading accounts?
The table to compare the Oanda trading accounts is shown below.
| Oanda Account Types | Minimum Deposit ($) | Minimum Spread (pips) | Volume-based Commissions | Overnight Fees | Minimum Trade Size (lots) |
|---|---|---|---|---|---|
| Oanda Standard Account | No Minimum | 0.6 | No | Yes | 1 unit |
| Oanda Core Account | No Minimum | 0.1 | $3.50/lot round turn | Yes | 1 unit |
| Oanda Spread Betting Account | No Minimum | 0.8 | No | Yes | 1 unit |
| Oanda Islamic Account | No Minimum | 1.6 | No | No (Admin fee after 5 days) | 1 micro lot |
| Oanda Premium Account | No Minimum | 0.8 | No | Yes | 1 nano lot |
| Oanda Premium Core Account | No Minimum | 0.2 | $3.50/lot round turn | Yes | 1 nano lot |
| Oanda Advanced Trader Account | $10,000 (Balance Required) | 0.6 | No | Yes | 1 nano lot |
| Oanda Professional Account | No Minimum | 0.6 | No | Yes | 1 unit |
What are the requirements to open an Oanda account type?
The requirements to open an Oanda account are listed below.
- Contact requirements: The contact requirements of Oanda include a valid email address and a valid phone number
- Age requirements: The age requirement at Oanda is that you must be over 18 years old to open an account
- Legal requirements: The legal requirements at Oanda include complying with KYC laws by verifying your identity with documents such as a passport or utility bill.
- Minimum deposit requirements: Oanda does not require a minimum deposit to activate a live trading account
- Regulatory requirements: The regulatory requirements at Oanda stipulate that you must be a resident in a country where the broker operates
- Knowledge requirements: The knowledge requirements at Oanda include answering questions about your trading experience and financial knowledge before accessing complex financial products.
Do Oanda account types charge inactivity fees?
Yes, Oanda account types charge inactivity fees. Oanda applies a monthly fee of $10 units of your account’s currency after 12 months of no trading activity. The fee does not apply when you have open positions.
Oanda considers an account inactive when there are no trades executed for 12 consecutive months. Your account will incur charges until you close it, resume trading, or your balance decreases to zero. Inactivity fees will not result in a negative balance on any account.
Demo accounts remain free of inactivity charges under Oanda fees. These trial accounts use virtual funds, meaning traders owe nothing to the broker. Abandoning a demo account does not lead to additional costs because the funds are not real, and the broker does not require any further action from the user.