The Oanda minimum deposit is $0.
The table below is the summary of recommended Oanda minimum deposit for each currency.
|Currency||Recommended Minimum Deposit|
Oanda Account Types
At Oanda, there is only one type of trading account (in addition to a demo and a corporate account).
You can, however, create up to 19 sub-accounts. If you want to keep multiple base currencies in one account, these are ideal.
You could have a USD account with EUR and GBP subaccounts, for example. Oanda also offers an API for exchanges, which could be useful if you want to build your own platform.
Oanda Deposit Methods
this broker does not charge any deposit fees. Your deposit options differ depending on where you live and how much money you have in your account.
PayPal (UK, Canada), Neteller, and Skrill are among the electronic wallets supported by Oanda (most of Asia and other emerging markets).
Only funds from your own accounts can be deposited. A bank transfer can take several days to complete, whereas credit/debit card payments are instantaneous. Visit Oanda’s website for more information.
How To Deposit to Oanda
To begin, log in to your already established trading account and locate the depositing interface.
After that, you choose one of the deposit methods supported by the broker, enter the deposit amount, and complete the transaction.
One or more of the following deposit methods are available:
- Bank Transfer: You must enter your bank account number in the deposit interface to make a bank transfer (also known as a wire transfer). You must have a bank account in your name. Following that, you must initiate a bank transfer from your bank. The broker will provide you with a reference number, which you must include in your transaction as a comment.
- Credit or debit cards: You must enter the same card information as you would for any other online purchase. However, unlike any other online purchase, you must use a credit card that is registered to your name. In some cases, you’ll also need to scan and send your card to the broker to verify it. On their part, this is yet another anti-money laundering measure.
- E Wallets: Paypal, Skrill, Neteller, and other online wallets work in the same way as any other online purchase. The interface of the wallet will pop up, where you’ll have to enter your credentials (username and password) and carry out your transaction.
Oanda Withdrawal Methods
Withdrawal options and fees differ depending on where you live and how much money you have in your account. The most common withdrawal methods are the same as those used to make deposits.
Withdrawals to credit/debit cards, as well as PayPal and other electronic wallets, are typically fee-free. While withdrawals via bank transfer, on the other hand, are usually quite costly.
Withdrawals from USD or EUR accounts, for example, cost $/€20 while subsequent withdrawals cost even more, typically $/€35 in many regions.
Oanda Minimum Deposit Summary
There is no minimum deposit for Oanda. It has easy-to-use trading platforms that you’ll be able to master quickly. It also offers robust research tools and trading APIs. The process of opening an account is simple and quick.
With that in mind, feel free to give Oanda a shot: it’s regulated by top-tier regulators, there’s no minimum deposit, and the inactivity fee doesn’t kick in for another year.