Exness Review
OANDA Fees and Spreads
OANDA spreads start from the average spread of 0.1 pips EUR/USD, and the commission depends on the trading account the trader is using. OANDA is very competitive in terms of its trading fees and spreads. OANDA is a multi-regulated forex broker with 11 Tier-1 (High Trust) and 2 Tier-3 (Low Trust) regulators.
- Louis Schoeman
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Fees and Spreads Overview
Additional Trading Fees
Broker Fees
Pros and Cons
Final Verdict
FAQ
Overall Rating
- 4.9/5
Min Deposit
USD 0
Regulators
ASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA
Trading Desk
Metatrader 4 and Metatrader 5
Crypto
Yes
Total Pairs
45
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
OANDA Fees and Spreads – 6 key points quick overview:
Fees and Spreads
👉 The spread list for OANDA starts from 0.1 pips EUR/USD on the Core Account.
👉 OANDA is considered the CFD and FX broker with the most competitive spreads on all financial products. OANDA advises, however, that spreads may widen at specific periods of the day if significant international or geopolitical events have happened.
👉 OANDA offers Botswanan traders two price choices: standard spreads with zero commissions or tighter spreads with commission fees.
👉 Alternatively, holders of spread-only accounts could profit from the spread reductions according to their trading volume.
👉 To put it another way, the total cost of trading will consist of a spread plus a transaction fee. Botswanans might anticipate the following spreads based on their account type:
➡️ Standard account – from 1 pip
➡️ Core account – from 0.1 pips
➡️ Swap-Free account – from 1.6 pips
Additional Trading Fees
Commissions
👉 Botswanan traders will face commissions of $40 for every $1,000,000 traded when they use the OANDA Core Account.
Overnight Fees, Rollovers, or Swaps
👉 Traders with a Swap-free account can purchase and sell 26 specific financial products for a fixed charge ranging from $4 to $7 per lot. The Japan 225 Index is the only market that assesses a fee for every 100 traded lots.
👉 Traders who observe Islam and whose open positions exceed five days will be charged the above fees.
👉 The costs of foreign currency pairings will be determined by averaging the tom-next swap rates offered by the underlying liquidity providers, deducting the instrument-specific administration fee, and annualizing the resulting figure.
👉 The indices include an annual financing rate and a 2.5% administrative charge. Consequently, a cost is incurred, represented by a negative rate.
👉 OANDA does not charge overnight fees on Islamic Accounts. However, the swap fees for all other accounts are calculated using the following formula:
➡️ Forex and Precious Metals rates are generated from a weighted average of the tom-next SWAP fees offered by the underlying liquidity providers for both long/buy and short/sell contracts. Once the instrument-specific administration charge has been applied, these rates are yearly.
➡️ Long/buy positions in indices incur the appropriate annual financing rate and a 2.5% administration fee. A fee or negative interest rate is used to demonstrate this idea. Suppose the 2.5% OANDA administration charge exceeds the required one-month annualized financing rate. In that case, the greater rate will be applied to finance short/sell positions. This is shown with credit because the rate is positive.
➡️ OANDA does not provide spread betting services to Botswanan traders. Therefore, Botswanans need not worry about spread betting fees.
Broker Fees
Deposit and Withdrawal Fees
👉 There are no fees associated with OANDA deposits, but bank wire transfers to and from the trading account cost $20.
Inactivity Fees
👉 Trading accounts incur a monthly inactivity charge after 12 months of inactivity. All inactive accounts will receive a $10 monthly charge until the account balance reaches zero. At that point, the account will be automatically cancelled.
Currency Conversion Fees
👉 Botswanan traders face a currency conversion fee if they deposit or withdraw funds from their trading account using a non-supported currency.
OANDA Kenya Pros and Cons
| ✔️ Pros | ❌ Cons |
| Proprietary desktop trading platforms offered alongside MetaTrader 4 and 5 | Fixed spreads are not offered |
| Offers an impressive array of financial instruments including most currency pairs | There is a monthly inactivity fee applied |
| Innovative mobile trading apps and mobile platforms provided | |
| There are several advanced charting tools and charting features offered | |
| Negative balance protection is applied to accounts | |
| The broker accepts a wide range of trading strategies including algorithmic trading, hedging, scalping, and more | |
| There is a comprehensive range of trading tools and analytical tools offered | |
| Deposit fees are not charged and there are several deposit options | |
| Offers a decent selection of educational materials including educational articles | |
| Client funds are kept in segregated accounts |
Verdict on OANDA
👉 Overall, OANDA is very competitive in terms of its trading fees and spreads.
FAQ
Does OANDA offer commission-free trading?
OANDA offers commission-free trading on Standard and Islamic Accounts.
What is the typical spread I could expect when I trade with OANDA?
The typical spread starts from 0.1 pips EUR/USD on the Core Account.
What are the holding fees charged on the OANDA Islamic Account?
The holding fees on the Islamic account range from 4 USD to 7 USD.
Does OANDA charge an inactivity fee?
An inactivity fee is charged after the trading count has been left without activity for 12 consecutive months.
What are the costs involved with OANDA’s deposits and withdrawals?
Deposit fees are not charged. However, withdrawal fees of 20 USD apply to bank wire withdrawals.
