Oanda offers Two major accounts: Our standard and Elite Trader accounts. The raw spread account can be of two types: Our standard and Elite Trader accounts. The Standard account is spread-based, while the Elite Trader Spread account is commission-based. Additionally, based on client type (Client profile), Oanda offers a good number of account types:
Below is the full list of account types offered by Oanda:
- Oanda Standard Account
- Oanda Elite Account
Oanda Standard Account: Best for Beginners
Oanda Standard Accounts are designed to meet the needs of retail traders in the forex and CFD markets. These accounts suit beginner traders, offering a straightforward and accessible trading experience with competitive spreads and reliable execution.
Key Features of Oanda Standard Account:
- Applicable For: Applicable for all jurisdictions including ASIC, CFTC, IIROC, FCA, PFSA, MAS in Singapore, FSA in Japan, FSC in BVI
- Account Opening: Fully Online Account opening. It may take only 5 to 7 Minutes. The demo account has 30 days of validity.
- KYC Verification: Required
- Trading Instruments: Forex, indices, metals, share, commodities, cryptocurrencies,
- Trading Platforms: MT4, TradingView
- Minimum Deposit: $0
- Maximum Leverage: Up to 30:1 (CySEC, ASIC), up to 1000:1 (FSA), and up to 500:1 for a professional account.
- Trading Fees: Only Spread is charged (No Commission). Variable spreads from 0.2 pips. A rollover commission is applied on open positions overnight.
- Minimum Trade Size: 0.01 lot.
- Maximum Trade Size (Lot restriction per Ticket): 200 Lots
- Funding Currencies: USD, EUR, GBP, JPY, and AUD
- Maximum Number of Positions ( At a time): 200 for MT4, MT5 Live account, 100 for MT4, MT5, demo accounts, 2000 for Ctrader trading account.
- Maximum Volume per trade: The maximum volume per trade ranges from 50 to 250 lots, depending on the platform type and tradable assets. For Shares CFDs, the maximum volume is 1000 shares in total
- Trading Style Allowed: All including Scalping, hedging, and EA Trading.
- Stop Out Level (retail): 0%
- Margin Call Level: 60%
- Negative balance Protection: Yes
- Investor Protection: Available under ASIC and CySEC regulations. However, the Investor protection scheme does not apply to FSA jurisdiction.
Oanda Elite Account:
Key Features
- Applicable For: Applicable for all jurisdictions including ASIC, CFTC, IIROC, FCA, PFSA, MAS in Singapore, FSA in Japan, FSC in BVI
- Account Opening: Fully Online Account opening. It may take only 5 to 7 Minutes. The demo account has 30 days of validity.
- KYC Verification: Required
- Trading Instruments: Forex, indices, metals, share, commodities, cryptocurrencies,
- Trading Platforms: MT4, TradingView
- Minimum Deposit: $0
- Maximum Leverage: Up to 30:1 (CySEC, ASIC), up to 1000:1 (FSA), and up to 500:1 for a professional account.
- Trading Fees: Only Spread is charged (No Commission). Variable spreads from 0.2 pips. A rollover commission is applied on open positions overnight.
- Minimum Trade Size: 0.01 lot.
- Maximum Trade Size (Lot restriction per Ticket): 200 Lots
- Funding Currencies: USD, EUR, GBP, JPY, and AUD
- Maximum Number of Positions ( At a time): 200 for MT4, MT5 Live account, 100 for MT4, MT5, demo accounts, 2000 for Ctrader trading account.
- Maximum Volume per trade: The maximum volume per trade ranges from 50 to 250 lots, depending on the platform type and tradable assets. For Shares CFDs, the maximum volume is 1000 shares in total
- Trading Style Allowed: All including Scalping, hedging, and EA Trading.
- Stop Out Level (retail): 0%
- Margin Call Level: 60%
- Negative balance Protection: Yes
- Investor Protection: Available under ASIC and CySEC regulations. However, the Investor protection scheme does not apply to FSA jurisdiction.
