Deposit and withdrawal methods vary from broker to broker. Learn how to deposit and withdraw your funds from OANDA Global in this article.

It is quite unsurprising that OANDA Global is known as one of the leading forex brokers in the world right now. OANDA has been serving international clients since 1996, continuously providing reliable services and offering new opportunities for many types of traders in the market. The broker has a number of interesting features to pay attention to, including relatively low spreads and a wide range of tradable products such as currency pairs, stock index CFDs, commodity CFDs, bond CFDs, and precious metal CFDs like gold, silver, and copper.

Moreover, OANDA Global is as reliable as it is attractive. You can see it reflected in the broker's deposit and withdrawal system. As you may know already, the withdrawal process is one easy way to tell whether a broker is trusted or not. A good broker would allow you to fund your account and cash out the money at any time you want. Unfortunately, it's quite common to find withdrawal difficulties in certain brokers.

In order to avoid such issues, you need to learn about the deposit and withdrawal methods that a broker uses before registering. Here's everything you need to know about how to deposit and withdraw your funds from OANDA Global.

OANDA Deposits and Withdrawals

 

Deposit Methods and Fees

OANDA Global accepts deposits in several currencies, including AUD, CAD, EUR, GBP, HKD, JPY, SGD, CHF, and USD. You can use these currencies to open multiple sub-accounts if you want to deposit with different base currencies. However, please note that the default base currency for your main trading account should be the domestic currency depending on where you live. Also, making any deposit in a currency other than your base currency will incur a conversion fee.

There are several deposit methods that you can choose on OANDA, such as bank wire and bank transfer, credit and debit card, PayPal, Skrill, and Neteller. There are also additional payment methods like local bank transfers and e-wallets for traders in South East Asia, Latin America, and African countries. Most deposits can be processed pretty quickly, but the exact time varies depending on the method you use. For instance, deposits with e-wallets usually take only a moment, while deposits through a bank wire transfer may take a few business days to complete.

Deposits are completely free on OANDA Global, although the card issuer or service provider may charge you a fee. There's also no minimum balance required to open a standard trading account, so you can start your journey with literally zero capital. However, you will need to deposit some funds in your account before you can open live positions.

 

How to Deposit Money to OANDA Global

Making deposits in OANDA is considered to be pretty easy. Here are the steps that you should follow:

  1. Visit the broker's site and log in to your account. If you haven't got an OANDA live account yet, you'll need to register first and follow the verification procedures.
  2. Once you're logged in, click "Fund Account" on the right side of the screen.
  3. You'll see a menu where you can determine your deposit method or add a new account to your available funding methods.
  4. Decide how much you want to deposit and complete the process to start trading. Note that the standard account has no minimum deposit, but the premium account requires a $20,000 minimum deposit.

 

Withdrawal Methods and Fees

Once you have deposited some money, you can withdraw them back whenever you like. There are several withdrawal methods on OANDA Global, such as bank wire transfers, credit and debit cards, PayPal, Skrill, and Neteller. You can also withdraw using multiple local methods if you have a trading account in certain African countries.

Unlike some deposit options, withdrawals are rarely instant. It typically takes at least 1 to 3 business days, but certain methods can take up to 5 days to process the funds, so please consider the processing time before making any withdrawals. Also, it's worth noting that OANDA returns funds to their original source, so if you deposited using a credit card, you'll need to withdraw via the same card. If you deposited with multiple methods, then you should withdraw the total amount deposited by each method in a set order.

While most deposit methods are free of charge, this isn't necessarily true in most withdrawal cases. Wire transfers and international bank transfers in particular can be quite pricey, so make sure to check the fees before making the transaction. The good news is that withdrawal at OANDA Global is completely free of charge if you use PayPal or credit and debit cards. There's also no minimum or maximum withdrawal limit, so you can withdraw as much as 100% of your account balance and transfer it back to your personal account.

 

How to Withdraw from OANDA Global

In order to withdraw your money from OANDA, you need to do the following steps:

  1. Head over to OANDA's portal and log in to your trading account.
  2. Click "Withdraw" from the menu.
  3. Choose the preferred withdrawal method and/or the account to withdraw to.
  4. Enter the amount that you wish to withdraw. Note that if it's not in your base currency, a conversion fee might incur.
  5. Submit your order.

It is important to understand that in some cases, your withdrawal might get rejected by the broker. There are several possible reasons for failed withdrawals, such as:

  • You might have requested a withdrawal to a different source than the one you used to deposit. If the card or account that you used for the deposit is no longer active, then you can choose to withdraw using an alternative payment method. You'll only need to prepare some documentation from your provider to prove that the card or account is no longer active.
  • The system couldn't verify the origin of your funds. If this is the case, you can send an email to [email protected] for more details.
  • The amount that you submitted was too high. In other words, you don't have enough remaining balance in your account to cover the margin of your existing trades. This is why it's highly important to make sure that you have sufficient balance in your account before making a withdrawal to prevent getting margin calls.

 

Transfer Funds to Other OANDA Accounts

Instead of withdrawing straight to your bank account, you can also choose to transfer funds to any of your sub-accounts. This includes your MT4 accounts as well. If you transfer with a different currency than your base currency, your balance will be converted first at the current exchange rate. You can check the latest rate on the broker's platform. Your transfer request will be processed immediately.

 

Final Thoughts

All in all, OANDA Global has a pretty solid deposit and withdrawal system. Many traders might feel unsafe when withdrawing their money, but this is not the case with OANDA users. At OANDA, there are loads of payment methods to choose from and both deposits and withdrawals are completely free of charge. This is certainly a good sign that the broker is legit because it won't stop you from managing your funds.

🌐 Website
www.oanda.com
Leverage
1:20
💼 Regulation
💲 Min Deposit
$0
Year Established
1996

Islamic Accounts available
US traders are welcome
Negative balance protection
Segregated accounts
Compensation scheme
VPS Affiliate program
Trading via API
Education
Webinar
Swap
Wire transfer
Skrill
Neteller

Traders looking for brokers with accurate precision, OANDA can be an option. That is because OANDA is a broker that provides quotes with 5-digit accuracy and active price movements that follow market developments. Order execution speed is also faster in this broker.

It provides benefits for novice traders, as they can trade with smaller volumes using the calculation system based on currency value, unlike other brokers adopting the lot system.

Founded in 1996, OANDA was built by Dr. Michael Stumm who is a lecturer in Computer Engineering at the University of Toronto, Canada, along with his colleague, Dr. Richard Olsen of The Olsen Ltd., which is one of the leading econometric research institutes. They have a head office in San Francisco, United States.

OANDA branch offices can be found everywhere. Some of these offices are located in the United Kingdom, Singapore, Japan, and Canada. With this number of offices spread, OANDA has increasingly attracted the attention of clients worldwide.

OANDA's company is registered under several well-known jurisdictions in financial trading. They are regulated by CFTC and NFA in the US, FCA in the UK, ASIC in Australia, and many others. Traders do not need to worry anymore about security when trading in OANDA. However, these advantages make trading rules at OANDA more stringent compared to other brokers.

For example, OANDA only allows maximum leverage of 1:20, because the rules in the US and Japan do not allow leverage above that. Besides, the registration procedure is more complex due to various additional requirements that are not submitted by other forex brokers. On top of that, hedging is not allowed in one trading account as the client must open an additional account to hedge.

Nevertheless, OANDA is known for being a leading broker with many advantages offered. OANDA faces increased market risk during periods of price volatility, such as economic and political news announcements. When market spreads increase or decrease, their pricing engine widens or narrows spreads accordingly. That way, traders can get the latest conditions from price movements in the market more quickly.

Prices move very fast in the market. Especially when news releases have a large impact on market volatility. This condition is often exploited by brokers to take advantage of clients with Requotes. However, traders do not need to worry about additional costs when trading with OANDA.

The company never withdraws Requotes so traders can get maximum profit. When traders are unavailable to monitor open positions, they can set take profit orders to lock in profits and Stop Loss orders to help protect against further losses.

As an experienced and well-known online forex broker, OANDA is committed to maintain an efficient trading environment that reduces latency and provid tools to help clients manage the degree of acceptable slippage.

With a fast & reliable trading platform by OANDA, clients' trades are executed in 0.012 seconds. This suits traders who choose brokers based on execution speed.

Because of this exceptional execution service, it is not surprising that OANDA won many awards, including the winner of the world's Best Retail FX Platform at the prestigious e-FX awards. The broker is also voted number 1 for Consistency of filling trades at quoted prices, Execution speed, and Reliability of platforms.

There is no minimum deposit or minimum balance required to open an OANDA account. Deposit and withdrawal can be done easily. OANDA provides a variety of payment method facilities, including Paypal, Wire Transfer, Credit Card, and Debit. Traders can adjust it to the region where they live.

OANDA provides more than 100 trading instruments, including 71 currency pairs, 16 indices, 8 commodities (Brent Crude Oil, Copper, Corn, Natural Gas, Soybeans, Sugar, etc.), 6 Bonds, and 23 Metals.

The fxTrade and MetaTrader platform are available at OANDA. These platforms can be used for Desktop and Mobile. Another plus is they have an OANDA Technical Analysis that exists in collaboration with a technical analysis provider called Autochartist.

With these platforms, clients can monitor price movements easier and automatically recognize patterns created on charts, as well as receive alerts when the awaited patterns appear. Access to this technology can be enjoyed free of charge.

In conclusion, OANDA is an ideal broker for traders in need of fast execution backed by many years of experience. The company is also a good alternative for those looking for a well-regulated broker with flexible trading and deposit conditions.

If you face any difficulty when making a deposit or withdrawal, you can simply contact customer service via email, live chat, phone, or tax service. You can also find several useful FAQs on the broker's site to help you figure out what you need. Aside from English, the website has been translated into no less than eight foreign languages to support international clients.