OANDA UK

Hi guys.

I attempted to fund my new OANDA account for the forst time 4 or 5 days ago via a wire transfer using y online banking facility

How long does this typically take?
Will it be faster the next time i fund the account?
Also, I was under the impression from their site that there is no charge for this but i have since heard of people being charge around $30 on a $250 deposit. Is that the case?

cheers.

If you transfer money in Europe, and in Euro, you can apply for shared costs based on IBAN / SWIFT transfer. The shared cost means very low costs. Oanda does charge you something like 30 to withdraw money from your account.

Wireing money is the best and cheapest option (at least from Europe and Euro).

Thanks for replying.

Funnily enough my account was funded about an hour ago. I've already made 60 pips (around £5 profits lol). Im only betting tiny stakes to learn the ropes.

Wow..they charge you for taking your money out aswell? That's not cool. £30 or £30 dollars?

Oanda only charges on withdrawals, not on deposits. If you paid a fee on deposit, that's for the bank. See the oanda website for withdrawal fees. In the US, you can withdraw for free once a month by check.

I trade with Oanda. There is wiring fee for sending money either way. When I deposit I pay my bank, when I withdraw I pay Oanda's wiring fee.

I have a newly opened account with Oanda. When I deposited, I got charged by my local bank and there was an additional charge from Oanda's bank (for a total of $25).

I understand it costs even more to do a withdrawal if you're not based in the US.

If you're based in Europe you won't have to pay anything for deposits, neither at your local bank nor at Oanda.

Regards - Xaron

Thanks for the replys guys.

Its a shame about the withdrawal fee, although i dont appear to have been charged anything for my deposit.

I have somehow managed to make about 250 pips since opening my account last night! but at TINY stakes which so far wont even cover the fee i'll be charged when i make a withdrawal

took a long overnight on the GBP/JPY 210.60 with a stop at 210.30 and closed it a minute ago at 212. hmmm....might even start a jornal if i can be bothered, to record my trades at this stage.

Thanks and good luck guys