Withdraw funds: OANDA Global Markets (2024)

What should I keep in mind before making a withdrawal request?

  1. As we may sometimes need to contact you about your withdrawals we encourage you to closely monitor your email inbox (including your junk folder).

  2. Whenever you request a withdrawal, you should bear in mind that a withdrawal could trigger a margin closeout if you no longer have sufficient funds on your account to maintain your open positions.

  3. Withdrawals are subject to hierarchy rules in order to protect both you and us from fraudulent payment instructions. If you have deposited using multiple methods, you must exhaust the total original deposit amounts in the following order:

    1. Credit/debit card

    2. Neteller

    3. Skrill

    4. Bank or wire transfer

  4. Any money standing to the credit of your landing account(s) (which excludes any bonuses or trading credits) will be transferred to you upon request, subject to you satisfying relevant margin requirements and documentation requests. Also, there must be no outstanding sum due from you.

  5. OANDA can process up to 100% of the original deposited amount back to the same source/account you used to fund your account. Any funds remaining in your account after you have withdrawn the full amount you originally deposited may be withdrawn only by bank or wire transfer. If you have sent funds to us from more than one bank account, we will, at our discretion, pay any amounts withdrawn from your landing account(s) to one of the bank accounts from which such funds were received.

  6. Where applicable we will return money to your credit/debit card in the form of card refunds. This means that your withdrawal request may be split into multiple payments in order to refund each of your individual deposit transactions.

  7. Withdrawal requests for more than US$9000 will be restricted if you have not provided the required documentation.

  8. When we request for photo, scan or screenshot of any document, the submission should meet our guidelines:

    1. We can accept PDF or JPEG formats only.

    2. No edited or altered documentation can be accepted

    3. Documents must be legible

    4. Downloaded documents are acceptable as long as the entire document (all 4 corners) is visible and provides all the required information

    5. We do not accept direct deposit forms, or other bank application forms

Withdrawing by credit/debit card

The total amount you can withdraw to your credit/debit card(s) cannot be more than the total amount you deposited from those cards.

When will I get my money?

One to three business days. We do our best to process your request as quickly as possible, but please consider the following may also impact processing times:

  • Withdrawals to credit/debit cards are only processed after all your credit/debit card deposits have cleared. This on average takes around 1 business days from the date of your deposit
  • Your debit/credit card provider may take additional time to complete your withdrawal.

Withdrawal fees

There are no fees for credit/debit cards.

If I have received a new credit/debit card from my bank, can I add the new card and withdraw money to it?

You can deposit using a new card by logging in to the OANDA portal.

However, due to credit/debit card withdrawal rules it is not possible to withdraw more money than the amount deposited from this new card back to it.

How do I withdraw my money if the credit/debit cards I have used are expired, replaced, lost or stolen, or the account is now closed?

Most banks do accept withdrawals to an expired card, given a replacement card was issued to you and the deposit was made within the last two years. Alternatively, you may contact us to disable the expired card profile and withdraw by a wire transfer.

If a card was last used to deposit more than two years ago, you may contact us to disable the card profile and withdraw by wire transfer.

Prior to withdrawing your funds with an alternative method due to a credit/debit card being replaced, lost/stolen or closed, OANDA requires documentation from your bank verifying that the original card is no longer in service.

The bank issued document must include the following information:

  • Name of the bank credit/debit card owner

  • Last four digits of the card number

  • A statement citing the card is no longer in service

Please forward this document to us by email at frontdesk@oanda.com and we will contact you back with the next steps within one to two business days.

Withdrawing by Neteller

Withdrawals to the above providers are only processed in AUD, CHF, EUR, USD, HKD, SGD

When will I get my money?

Within one business day

Your financial institution may take additional time to complete your withdrawal.

Withdrawal fees

If your e-wallet account is denominated in a currency other than your accounts based currency (for example USD), you may incur exchange fees levied by Neteller in addition to their withdrawal fee.

  • Neteller accounts must be held in the same name and at the same address as in our records for a payment to be successful

  • Neteller members must be fully verified to be able to make a successful payment

  • Neteller corporate payments are not allowed

  • Neteller payments must not originate from a prepaid card.

Withdrawing by Skrill

Withdrawals to the above providers are only processed in AUD, CHF, EUR, USD, HKD, SGD

When will I get my money?

Within one business day

Your financial institution may take additional time to complete your withdrawal.

Withdrawal fees

If your e-wallet account is denominated in a currency other than your accounts-based currency (for example USD), you may incur exchange fees levied by Skrill in addition to their withdrawal fee.

  • Skrill accounts must be held in the same name and at the same address as in our records for a payment to be successful

  • Skrill members must be fully verified to be able to make a successful payment

  • Skrill corporate payments are not allowed

  • Skrill payments must not originate from a prepaid card.

Withdrawing by bank or wire transfer

Withdrawals by bank or wire transfer must be:

  • Processed to bank accounts registered to the same person as the OANDA account holder
  • The name and address on your OANDA account must match the name and address on the bank account you would like the withdrawal to be processed to
  • Processed to the same country, in the same currency as the original deposit.

If the bank account you deposited from has been closed, and you’d like to withdraw to another bank account, we require proof of closure. You can email us one of the following documents:

  1. A bank statement showing zero balance and information that the account is closed.

  2. A closure letter from your bank showing the following information:

    1. Your full name

    2. The bank account number

    3. Your current address (addresses need match what is on file with OANDA)

    4. The banks logo or emblem

If you are withdrawing to a bank account that you had previously not made any deposits from, we will need confirmation that you are the owner of the bank account. If we are unable to confirm your details from the bank or wire transfer, we will request a scan, screenshot or photo of your bank statement, clearly showing:

  1. Your full name

  2. The bank account number

  3. Your current address (addresses need match what is on file with OANDA)

  4. The banks logo or emblem

  5. The date of issue which should be within the last 3 months.

Residents of Taiwan and Thailand who have less than US$9000 deposits or withdrawals may submit bank passbooks with or without address, instead of bank statements.

Please email us at frontdesk@oanda.com.

  • Sufficient to cover the withdrawal fees as explained in the subsequent FAQs. For example, withdrawal requests for less than USD 20 or equivalent are usually not sufficient to cover intermediary fees. Such requests are cancelled and the funds are returned to your account.

When will I get my money?

Within two to five business days

Your financial institution may take additional time to complete your withdrawal.

Withdrawal fees

  • Your bank may charge fees, which are outside of OANDA’s control.

  • Fees charged by intermediaries are shared equally between OANDA and you. If applicable, on average $20 per transaction will be borne by you.

  • Our withdrawal fees depend on the currency of withdrawal. Refer to the following table:

    Sub-account currency First withdrawal processed within calendar month Additional withdrawals processed within calendar month
    CAD CAD $20 CAD $40
    AUD AUD $20 AUD $40
    EUR EUR €20 EUR €35
    CHF CHF 20 CHF 40
    GBP GBP £10 GBP £20
    HKD HKD $150 HKD $300
    JPY JPY ¥2,000 JPY ¥4,000
    SGD No fee No fee
    USD USD $20 USD $35

    <![CDATA[ ]]>

Withdrawing by WISE

You can withdraw via WISE only if you’ve deposited via WISE. In exceptional situations, we may also request for a refundable test deposit of $1 or equivalent.

Alternative Payment Methods (APM) / SafeCharge

You cannot withdraw funds back to an APM. If you deposited via an APM, you may withdraw back using a bank or wire transfer.

How can I withdraw funds from my account

  1. To withdraw funds, first log in to the OANDA portal.

    Withdraw funds: OANDAGlobal Markets (8)

  2. Next, click on Fund Account located in the top right corner of your screen. Alternatively, you can click on TRANSFERS located along the top left of the screen.

    Withdraw funds: OANDAGlobal Markets (9)

  3. Once on this page, click on Withdraw Funds located along the right side of the screen.

    Withdraw funds: OANDAGlobal Markets (10)<![CDATA[ ]]>

  4. Next, to withdraw funds choose which account you wish to draw funds from by selecting it via the drop-down menu under From Account and selecting where you want those funds to go via the drop-down menu under To Account .

    Withdraw funds: OANDAGlobal Markets (11)

  5. Next, select the payment method, select the amount you want to withdraw and then again enter the amount you want to withdraw. Make sure the amount you enter is the same as what you had deposited using the given payment method.

For withdrawals by card, select Refund as the payment method.

Why am I unable to withdraw funds?

If the payment method that you used to fund your account no longer exists (i.e. bank account profiles that have been closed), you may be eligible to withdraw your funds using bank or wire transfer. In this scenario, we require documentation from your provider verifying that the payment method is no longer operational.

For more information or assistance on this subject, please email frontdesk@oanda.com.

Still have questions? Chat with an agent.

Withdraw funds: OANDA Global Markets (2024)

FAQs

Why can't I withdraw my money from OANDA? ›

Withdrawals must be processed to bank accounts registered to the same person (or entity) listed on the OANDA account. The name and address on your OANDA account must match the name and address on the bank account you would like the withdrawal to be processed to.

Is it easy to withdraw money from OANDA? ›

You can withdraw funds from your OANDA account via credit/debit card and bank wire transfer. Funds can be withdrawn by selecting the 'Manage Funds' tab after you log in to your OANDA account. This brings you to the 'My Funds' system.

How long does it take for funds to settle OANDA? ›

It takes one to three business days to deposit funds via domestic wire transfer and up to five business days for international wire transfers. There is no minimum or maximum deposit limit. You may be charged a service fee by your bank and intermediary bank for transferring funds into your OANDA trading account.

How do I withdraw from my trading account? ›

A Step-by-Step Guide to Withdraw Money from a Trading Account
  1. Step 1: Log into Your Trading Account. ...
  2. Step 2: Look for the Fund Withdrawal Option. ...
  3. Step 3: Select Your Preferred Method of Withdrawal. ...
  4. Step 4: Enter the Amount You Wish to Withdraw. ...
  5. Step 5: Review the Details. ...
  6. Step 6: Verify and Confirm.

Why can't I withdraw my funds from my trading account? ›

Some of the common reasons that can lead to failure when withdrawing money from a trading account are: Insufficient funds: If the trading account does not have enough free balance to process the withdrawal request, it will be rejected. You need to ensure that there is a valid balance in order to transfer your funds.

Why can't I withdraw money from my brokerage account? ›

The main reason is that your money is invested and not immediately available as cash. It's not too difficult to get the hang of this process. Once you learn how to withdraw money from a brokerage account, you'll be able to access your money when you need it.

Can US citizens use OANDA? ›

Residents of the US and its territories , with either a valid social security number or US visa entry document (or similar) can apply to open an account with OANDA Corporation.

Does OANDA have a withdrawal fee? ›

Withdrawals made by bank transfer will incur a fee. Fees vary dependent on your account currency and how many other bank transfer withdrawals you have made within the same calendar month. We apply a holding/duration charge or credit for positions kept open over time.

Is my money safe in OANDA? ›

We keep your funds separate from our own funds, using other bank accounts than the ones used for holding our funds. The money you entrust to us in connection with the brokerage services provision is not subject to seizure in the event of enforcement proceedings against OANDA TMS Brokers.

Can I withdraw money from OANDA to PayPal? ›

We process withdrawals to PayPal personal accounts only. Withdrawals to PayPal accounts are usually processed within one business day.

What is the minimum amount to trade in OANDA? ›

There is no minimum deposit amount and you can deposit up to US$9,000 (or currency equivalent) to your OANDA account*.

How long does it take to get approved for OANDA? ›

Once your application is submitted, please wait for 1-2 working days to receive an approval email from OANDA. From our approval email, click on Set Your Password and complete the steps for your account security. This password is for logging into your Account Management Portal.

How to withdraw money from OANDA? ›

How to withdraw funds (OANDA Corporation)
  1. OANDA live account users must log in to the HUB. Next, go to the Dashboard and click on Withdraw . ...
  2. On the WITHDRAW tab, select the account you want to withdraw from and click on CONTINUE .
  3. Indicate if you would like to withdraw to a debit card or wire transfer to a bank account.

What is the maximum withdrawal from trading account? ›

A maximum of ₹5 Crores can be withdrawn per day. For instant withdrawals, the withdrawal requests must be for a minimum of ₹100 and not exceed ₹1,00,000 per day. The withdrawal limit is subject to the availability of withdrawable balance in the trading account. To learn more, see What is the withdrawable balance?

How to withdraw from money easily? ›

Take Money Out at an ATM

One of the quickest ways to withdraw money from a savings account is at an ATM. Depending on your bank, you can use your physical debit card or mobile wallet to access the funds in your account. Keep in mind there may be fees to take out money from a savings account at an out-of-network ATM.

Is OANDA allowed in the US? ›

Residents of the US and its territories , with either a valid social security number or US visa entry document (or similar) can apply to open an account with OANDA Corporation.

What happened to OANDA? ›

OANDA's desktop trading platform has been discontinued. It will not be available for download if you signed up with OANDA on or after 20th January 2023.

Why can't i withdraw money from free trade? ›

When you sell shares, you won't be able to withdraw the associated cash until the trade has settled. Settlement is typically completed 2-3 working days after the trade has executed. If you have only ever added cash to your account using Apple or Google Pay, you'll need to verify your linked bank account.

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