Overall Rating
4.4/5
Rated #437 of
Recommended FX Brokers
Minimum Deposit
USD 250
Regulators
FSCA
📱 Trading Desk
MetaTrader 4
₿ Crypto
Yes
📈 Total Pairs
–
Islamic Account
Yes
Trading Fees
Low
🕒 Account Activation Time
24 Hours
Our OINVEST Minimum Deposit Revealed:
- ✔️Minimum Deposit
- ✔️Deposit fees and deposit methods
- ✔️Step by step guide to deposit the minimum amount
- Pros and Cons
Minimum Deposit
Oanda does not have a minimum deposit requirement.
When traders register for a live trading account with Oanda, they can deposit any amount of their choosing to start trading. However, traders are urged to ensure that they have enough funds in their trading account to meet the margin requirements of the trade.
When making deposits into their Oanda trading account, traders must note that they only have certain deposit currencies that they can use. For deposits made in ZAR, traders must ensure that they keep an eye on the exchange rate between major currencies such as USD, EUR, GBP, JPY, HKD, CHF, CAD, AUD, and NZD, and the South African rand.
Oanda is a broker with regulation and authorisation though several regulatory entities. All of these require that Oanda keep client funds in segregated accounts, separate from the broker account. These client funds may only be used towards trading activities and not operational purposes or to fulfil financial obligations.
Deposit fees and deposit methods
There is no set minimum deposit amount, but traders must ensure that they have enough capital to cover margin requirements, even after they have applied leverage. The deposit methods that traders can use to fund their account are:
- Credit/Debit Cards
- PayPal
- Internet banking transfers
- BACs
- CHAPS wire transfer
- Swift Wire Transfer
- SEPA Credit Transfer
The supported deposit currencies in which funds can be deposited are:
- USD
- EUR
- GBP
- CHF
- JPY
- CAD
- SGD
- HKD
When traders decide on their preferred payment method, they must note that withdrawals made from the trading account will be returned through this method. In addition, traders must ensure that the name in which their bank account is registered must match the name in which they registered their trading account. The reason for this is that Oanda prohibits third-party payments and funds received from unknown sources will not be accepted.
Step by step guide to deposit the minimum amount
To deposit the minimum amount, traders can sign into their Oanda account and navigate to “Deposits”. Here, traders can select their preferred deposit method, currency, and the amount that they wish to deposit.
Traders must note that conversion fees may be charged if funds are deposited in a currency that does not match their local currency.
In addition to this, traders must also verify any additional processing fees which may be charged by their financial institutions.
Pros and Cons
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Overall Rating
4.4/5
Rated #437 of
Recommended FX Brokers
Minimum Deposit
USD 250
Regulators
FSCA
📱 Trading Desk
MetaTrader 4
₿ Crypto
Yes
📈 Total Pairs
–
Islamic Account
Yes
Trading Fees
Low
🕒 Account Activation Time
24 Hours
FAQ
What is the minimum deposit for Oanda?
$0 (0 ZAR).
How do I make a deposit and withdrawal with Oanda?
- Credit/Debit Cards
- PayPal
- Internet banking transfers
- BACs
- CHAPS wire transfer
- Swift Wire Transfer
- SEPA Credit Transfer
Does Oanda charge withdrawal fees?
Yes. Withdrawal fees are charged on Bank Wire Transfer. There is a flat fee of 20 EUR, 150 HKD, or 20 USD.
How long does it take to make a withdrawal?
This will depend on the payment method used. Payments can reflect instantaneously or take up to several days.
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