Exness Review
OANDA Minimum Deposit
Overall, OANDA does not have a set required minimum deposit amount. 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. OANDA has a Trust Score of 92% out of 100.
- Lesche Duvenage
Jump to:
Minimum Deposit Overview
Deposit Fees and Methods
Step By Step guide to depositing the Minimum Deposit
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 Minimum Deposit – 6 key points quick overview:
Minimum Deposit
👉 OANDA does not have a set required minimum deposit amount.
👉 Therefore, OANDA offers a variety of deposit alternatives to Botswanan traders. However, to begin trading with OANDA, Botswanans must know that various financial instruments and asset classes have varied margin requirements.
👉 Live trading accounts of Botswanan traders who deposit less than USD 9,000 or 100,000 Botswana Pula (BWP) do not need verification. However, those who deposit above this amount must provide identity and proof of residency.
👉 These required documents (Proof of ID and residential address) can be sent to customer care for comments and support by Botswanan traders. After receiving these documents, Botswanans will be notified of the status of their account application.
👉 If permitted, the financing limit on trading accounts might be eliminated, enabling traders to deposit much bigger sums.
👉 Customer monies are maintained separately from OANDA’s broker account at major financial institutions. By law, OANDA must publish its financial position and maintain a minimum level of capital to preserve its license.
👉 An independent accounting firm based in a separate nation audits OANDA’s records frequently. In addition, OANDA distributes customer money in response to withdrawal requests or trading purposes.
👉 In addition, OANDA engages with the world’s foremost financial institutions to get access to and supply liquidity for the global currency and CFD markets.
👉 OANDA is not regulated locally in Botswana but by several other respected organizations, including IIROC, ASIC, the CFTC, the NFA, the FCA, the FFAJ, the MAS, and the MFSA.
👉 Utilizing new risk management technology to net aggregate client holdings anonymously and automatically, OANDA immediately hedges outstanding aggregated positions with partner banks that meet specified parameters.
Deposit fees and deposit methods
👉 When Botswanans finance the OANDA trading account, no fees will be assessed. In addition to the local deposit methods available to traders depending on their country of residency, OANDA allows deposits using the following methods:
➡️ Local Transfers
➡️ Debit Card
➡️ Credit Card
➡️ Bank Wire
➡️ Bank Transfers
➡️ Skrill
➡️ Neteller
➡️ Mobile Bank Transfers
➡️ International e-Wallets
👉 When making a minimum deposit, traders could use any local deposit currencies, giving Botswanan traders the freedom they need and exempting them from currency conversion expenses.
Step by step guide to depositing the minimum amount
Step 1 – Open up your dashboard and click on the “account” tab.
➡️ Locate the “account” tab on the top left of the dashboard.
Step 2 – Click on the “add or remove funds tab”.
➡️ Scroll down to the “add or remove funds” tab and click on it.
Step 3 – Click on the deposit tab.
➡️ On the new tab locate the deposit icon and click on it to deposit your amount.
Step 4 – Fill in your card detail and deposit amount.
➡️ Choose your currency and payment method then enter your deposit amount
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 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
What is the minimum deposit required when I register an OANDA account?
OANDA does not have a predetermined minimum deposit amount. However, to trade financial instruments, you must evaluate the margin requirements of the instrument you wish to trade and consider currency conversion fees to determine the amount you must deposit to start trading.
What is the average spread that OANDA charges on EUR/USD?
OANDA’s average spread starts from 0.1 pips EUR/USD on the Core Account.
Can I deposit funds in BWP?
Depending on your payment method, you may deposit funds in any given deposit currency.
Can I register a BWP-denominated account with OANDA?
When registering a trading account with OANDA, you cannot set BWP as your base currency.
Does OANDA charge currency conversion fees?
Currency conversion fees will automatically apply when you deposit or withdraw in BWP and have a different base account currency.
