Oanda Minimum Deposit Editor’s Verdict
A growing list of leading Forex brokers lowered capital requirements to make Forex trading accessible to all, but few match the Oanda minimum deposit of $0. Oanda gives complete control to traders on how much they wish to deposit.
Are there any deposit fees at Oanda?
Oanda does not levy internal deposit fees, but third-party costs may apply, especially for bank wires. I recommend traders check with their preferred payment processor for any charges that may apply. A trader who makes a $500 deposit at Oanda will receive $500 in their trading account.
What are the Oanda deposit methods?
Most international traders at Oanda Global Markets may deposit via bank wires, credit/debit cards, Skrill or Neteller. Oanda supports several localized payment options, and I recommend traders consult the Oanda Help Portal or reach out to a customer services representative for assistance.
Does Oanda offer deposits in currencies other than the US Dollar?
Besides US Dollar deposits, traders may fund their commission-free Oanda Standard and their commission-based Oanda Core accounts in the Euro, the Hong Kong Dollar, or the Singapore Dollar.
How to complete the Oanda minimum deposit?
The deposit process at Oanda remains straightforward and simplified, following the initial Oanda minimum deposit.
Here are the steps to complete your Oanda minimum deposit:
- Navigate to the secure Oanda back office, portal.oanda.com
- Enter your login information consisting of your e-mail and password
- Click on Fund Account located in the top right corner of your screen
- Under From Account, select your preferred payment method from the drop-down menu
- From the To Account drop-down menu, you can choose which one you wish to fund
- Enter your desired amount
- Click on Submit
Noteworthy:
- Payment processors may implement a minimum requirement despite the Oanda minimum deposit being $0
- Neteller forex trading deposits require the Neteller Member E-Mail Address before proceeding with the deposit
- Traders using their credit/debit cards for the first time must enter their card details
- Follow-on deposits skip this step, and traders may select an existing card
- Oanda does not accept third-party payments, meaning the name on the Oanda account and payment processor must match
What account types does Oanda offer?
All traders may choose the commission-based Standard Account. Traders depositing at least $10,000 or trading a nominal volume of at least $10 million each calendar month may open the commission-free Premium account. Those traders who can commit to trading a minimum nominal value of $50 million per calendar month and $200 million per quarter can open the commission-free Premium Plus account. Both Premium accounts provide discounts and rebates.
What is the Oanda withdrawal process?
Oanda follows established industry practices with its withdrawal process and usually completes each request within 24 hours, excepting weekends and holidays.
Here are the steps to complete your Oanda withdrawal:
- Navigate to the secure Oanda back office, portal.oanda.com
- Enter your login information consisting of your e-mail and password
- Click on Fund Account located in the top right corner of your screen or Transfers, which is the third option in the top left menu
- Select Withdraw Funds visible on the right side
- Under From Account, select your account via the drop-down menu
- From the To Account drop-down menu, select your withdrawal method
- Enter your desired amount
- Click on Submit
Noteworthy:
- Traders can only withdraw funds in the same currency as their deposit
- Oanda does not support cross-border withdrawals, meaning deposits and withdrawals must originate from the same country
- The name on the account and the payment processor must match
- A currency conversion fee applies if the Oanda account currency and the payment processor currency differ
- Oanda has a withdrawal hierarchy in the following order: credit/debit cards, Neteller, Skrill, and bank wires
- Traders may only withdraw the amount deposited to their credit/debit cards and the rest via bank wire
How does the Oanda minimum deposit compare to other brokers?
Since the Oanda minimum deposit is $0, it ranks as an industry-leading offer, and other brokers can only match it. While many Forex brokers continue to introduce a reduction of capital requirements, few grant traders complete freedom with a minimum requirement of $0. Therefore, Oanda joins a handful of Forex brokers currently ensuring their services are accessible to all traders with the freedom to build their portfolios as they desire.
Oanda Minimum Deposit Pros | Oanda Minimum Deposit Cons |
|---|---|
Complete freedom to build portfolios based on individual preference | Some traders will deposit insufficient funds to trade Forex |
Accessible to all traders and ideal for frontier/emerging markets | |
Traders can deploy a portfolio-building strategy based on monthly deposits | |
Excellent for traders who prefer multiple accounts at the same broker |
FAQs
How much can I deposit at Oanda?
Oanda does not place upper limits on deposits, but traders should check their payment processor for potential daily/monthly limits implemented for security reasons.
How much does it cost to open an Oanda account?
There are no costs involved in opening an Oanda account.
What is the minimum deposit for Oanda?
The minimum deposit at Oanda is $0.
Is Oanda a good broker for beginners?
Oanda is ideal for beginner traders, as the Oanda minimum deposit is $0, trading costs are low, and educational content is available.