Overall Rating
4.9/5
Rated #194 of
Recommended FX Brokers
Minimum Deposit USD 0
Regulators FCA, CFTC, ASIC, FSC, BVI and IIROC
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
Yes
📈 Total Pairs
45
Islamic Account No
Trading Fees Low
24 Hours
Our OANDA Minimum Deposit Revealed:
- ✔️Minimum Deposit
- ✔️Deposit fees and deposit methods
- ✔️Step by step guide to depositing the minimum amount
- Pros and Cons
Minimum Deposit
OANDA does not have a set minimum deposit amount.
OANDA provides traders with flexible options where minimum deposits are concerned. When traders fund their trading account before they start trading, they need to consider that each financial instrument has a margin requirement that must be met.
In addition, with regards to minimum deposits, OANDA does not have a verification process that must be completed unless traders deposit $9,000 or more at a single time. This is equal to 138,280 ZAR at the average exchange rate between the United States dollar and the South African Rand.
When traders want to deposit $9,000 or more into their OANDA trading account, traders must provide additional documentation such as a valid copy of their passport and a recent bank statement. Traders who already have an existing account with OANDA can upload these documents to the client portal.
Prospective traders can contact customer support to submit these documents and to receive further instruction and assistance on the matter. Once the documents have been received, they will be reviewed, and the trader will be notified of the outcome. If approved, the funding restriction will be removed from the trading account, allowing traders to make larger deposits.
OANDA keeps all client funds in segregated accounts that are kept separate from the broker account with top-tier banks. The funds in trading accounts are only used towards trading activities of traders and not by OANDA to hedge positions, complete and carry out trades, or any operational purposes.
Deposit fees and deposit methods
OANDA does not charge any deposit fees according to the official website. When traders fund their trading accounts, they can use any of the following payment methods.
- Debit Cards
- Credit Cards
- Bank Wire Transfer
- Skrill
- Neteller
When traders deposit the minimum deposit, they can use the following deposit currencies.
- USD
- EUR
- HKD
- SGD
Step by step guide to depositing the minimum amount
To deposit funds into a trading account with OANDA, traders can follow these steps.
- Traders can navigate to the client portal for OANDA and log in using their credentials
- Traders can select the option to fund their account and choose their preferred payment method from the dropdown menu that can be found under “From Account”
- Traders can choose the trading account that they wish to fund and enter the amount to deposit
- Once complete, the transaction can be confirmed to start the funding process
Pros and Cons
Overall Rating
4.9/5
Rated #194 of
Recommended FX Brokers
Minimum Deposit USD 0
Regulators FCA, CFTC, ASIC, FSC, BVI and IIROC
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
Yes
📈 Total Pairs
45
Islamic Account No
Trading Fees Low
24 Hours
FAQ
What is the minimum deposit required to open an account with OANDA?
OANDA does not have a set minimum deposit requirement.
How do you make a deposit and withdraw money with OANDA?
You can use any of the following:
- Debit Cards
- Credit Cards
- Bank Wire Transfer
- Skrill
- Neteller
Does OANDA charge withdrawal fees?
Some fees may apply when using certain payment methods.
How long does it take to make a withdrawal?
According to the official OANDA website, credit and debit card withdrawals can take between 2 to 3 business days.
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