Oanda Withdrawal Guide
Using a financial investment platform can be highly rewarding for many users. Nevertheless, this is only true, providing that the user takes the time to understand how the platform works. For instance, although withdrawing your funds from the platform is relatively simple, it is also a process with steps that must be followed correctly. That said, the following is an overview of Oanda withdrawals as well as a short guide on the steps you will need to take to withdraw your funds from your account.
Oanda Withdrawal Methods, Speed, and Fees
When it comes to withdrawing funds from your account, there are a few things to take note of. For instance, some regions may have different fees and speeds than others. The following closely examines the available withdrawal methods, their speeds, and fees.
| Method | Speed | Fee | |
|---|---|---|---|
| Bank cards | Yes | Up to 3 business days | None for the first withdrawal for each calendar month. There is a $15 fee per transaction after that. |
| Wire transfer | Yes | 1-2 business days | $20 |
| Payment services | No | — | — |
| Crypto | No | — | — |
The fees vary slightly when venturing into other markets, such as the EU. For instance, the fees are the same for transfers, but they do charge EUR 20 for all but the first transaction in terms of bank card withdrawals.
Oanda spread and fees explainedHow to Withdraw Money From Oanda
If you are prepared to make a withdrawal from your Oanda account, here is a step-by-step to help you do just that:
Log into your account.
Select “Withdrawal” or “Withdraw Funds” from the main menu.
Next, you will need to choose the withdrawal method or the account to which the funds will be withdrawn.
Enter the amount to be withdrawn; if applicable, you may need to enter a short reason for the withdrawal request.
Submit your request.
What is Oanda Minimum Withdrawal Amount?
As long as you can cover the fees associated with your chosen withdrawal method, there is no maximum amount you can withdraw from Oanda.
What are Oanda Withdrawal Currencies?
If you are wondering about the withdrawal currency types and regulations, they are as follows:
USD First withdrawal (*fee) processed within calendar month USD $20 No fee Additional withdrawals processed within calendar month *Fee + USD $15 USD $15
CAD First withdrawal (*fee) processed within calendar month CAD $20 No fee Additional withdrawals processed within calendar month *Fee + CAD $20 CAD $15 EUR First withdrawal (*fee) processed within calendar month
EUR €20 No fee Additional withdrawals processed within calendar month *Fee + EUR €15 EUR €20 GBP First withdrawal (*fee) processed within calendar month GBP £10 No fee Additional withdrawals processed within calendar month *Fee + GBP £10 GBP £10 JPY First withdrawal (*fee) processed within calendar month
JPY ¥2,000 No fee Additional withdrawals processed within calendar month *Fee + JPY ¥2,000 JPY ¥2,000 SGD First withdrawal (*fee) processed within calendar month No fee No fee Additional withdrawals processed within calendar month
SGD $20 No fee HKD First withdrawal (*fee) processed within calendar month HKD £150 No fee Additional withdrawals processed within calendar month *Fee
HKD £150 HKD £150 AUD First withdrawal (*fee) processed within calendar month AUD $20 No fee Additional withdrawals processed within calendar month *Fee +
AUD $20 AUD $20 CHF First withdrawal (*fee) processed within calendar month
CHF $20 No fee Additional withdrawals processed within calendar month *Fee + CHF $20 CHF $20
FAQs
Are there any limits to how much can be withdrawn when using a debit card?
When making withdrawals using a debit card, you can only withdraw the amount of money you made using those debit cards. So, if your balance far outweighs the amount of money you deposited using those debit cards, you will need to use alternative methods, such as wire transfers, in order to withdraw the total balance.
What are the rules for making withdrawals of funds that were deposited via check?
When making a withdrawal of funds that were deposited via check, you have the option of submitting a bank transfer withdrawal request for the original amount. In these cases, the platform will waive all applicable withdrawal fees. The funds can then be withdrawn using the same method in which they were deposited.
What happens when the account you used to fund your profile is closed?
If the account you used to fund your investment profile has since closed, you can withdraw your funds into an active account. To do so, you simply need to create a profile that includes the new bank account. You will then need to click on ‘add funds’ in order to add the active bank account.
How much can you withdraw from your Oanda account?
You can withdraw all the funds in your account after subtracting the amount of the margin used. Moreover, to prevent margin calls on existing trades, you should ensure sufficient funds are in your account outside the margin used.
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Team that worked on the article
Andrey Mastykin is an experienced author, editor, and content strategist who has been with Traders Union since 2020. As an editor, he is meticulous about fact-checking and ensuring the accuracy of all information published on the Traders Union platform. Andrey focuses on educating readers about the potential rewards and risks involved in trading financial markets.
He firmly believes that passive investing is a more suitable strategy for most individuals. Andrey's conservative approach and focus on risk management resonate with many readers, making him a trusted source of financial information.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.