Oanda: our Balance earn interest? | Forex Factory

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Oanda: our Balance earn interest?

  • #1
  • First Post: Feb 14, 2007 1:52pm Feb 14, 2007 1:52pm
My Demo Oanda account has $100K in it.. I have the demo sometime last year and when I went back at it a few days ago, I saw some $20+ added everyday.

Does Oanda give us Daily Interest on our Balance? I am not referring to any Swaps but rather on the money deposited...
  • #2
  • Feb 14, 2007 2:15pm Feb 14, 2007 2:15pm
Quoting BurgerKing
My Demo Oanda account has $100K in it.. I have the demo sometime last year and when I went back at it a few days ago, I saw some $20+ added everyday.

Does Oanda give us Daily Interest on our Balance? I am not referring to any Swaps but rather on the money deposited...
Yes. It's not only the demo, but also the live account.
"Even the word impossible says that I M possible"
  • #3
  • Feb 14, 2007 2:27pm Feb 14, 2007 2:27pm
... I asked 1 time how much interest was earned ... at the time it was a little over 4% (year) on your balance. Not sure how much it is now.

Happy Trading ....
If it is not broken, fix it until it is!
  • #4
  • Feb 16, 2007 12:52pm Feb 16, 2007 12:52pm
It's currently 4.925% per day. It's one of the reasons I trade with them!
  • #5
  • Apr 23, 2007 3:20pm Apr 23, 2007 3:20pm
Where on the Oanda site does it state about daily interest payments?
  • #6
  • Apr 23, 2007 4:06pm Apr 23, 2007 4:06pm
click on the activity tab, shows paid and debited interest
Bring It...
  • #7
  • Mar 5, 2011 5:14pm Mar 5, 2011 5:14pm
Quoting bugscoe
It's currently 4.925% per day. It's one of the reasons I trade with them!
How much is the rate now?
  • #8
  • Mar 5, 2011 8:37pm Mar 5, 2011 8:37pm
Quoting etrade
How much is the rate now?
It's negligible. The platform is down for maintenance so I can't check exactly but it can't be any more than 0.25%.
Nothing worth having is easy.
  • #9
  • Mar 6, 2011 3:57pm Mar 6, 2011 3:57pm
Quoting Patience
It's negligible. The platform is down for maintenance so I can't check exactly but it can't be any more than 0.25%.
You are a way wrong. It depends on the currency your account is funded with.

If you have AUD as account currency then it is much higher than if you would have an USD account. Currently AUD is around 4.4% and USD would be 0.15% and so on. You can choose between 9 different account currencies.
  • #10
  • Mar 6, 2011 4:15pm Mar 6, 2011 4:15pm
Quoting trash
You are a way wrong. It depends on the currency your account is funded with.

If you have AUD as account currency then it is much higher than if you would have an USD account. Currently AUD is around 4.4% and USD would be 0.15% and so on. You can choose between 9 different account currencies.
Oh, yeah Forgot about that. I'm funded in GBP so it's shite.
Nothing worth having is easy.
  • #11
  • Mar 6, 2011 5:29pm Mar 6, 2011 5:29pm
Just asking on behalf of a friend:

Does Oanda pay interest on unused margin only on their 'traditional' trading platform, or does this apply to their MT4 platform also?

Thanks,
David
  • #12
  • Mar 6, 2011 5:44pm Mar 6, 2011 5:44pm
Quoting hanover
Just asking on behalf of a friend:

Does Oanda pay interest on unused margin only on their 'traditional' trading platform, or does this apply to their MT4 platform also?

Thanks,
David
What are the main differences between the OANDA fxTrade and OANDA MetaTrader platform?

Interest — At OANDA, interest is paid on a second-by-second basis. Your MT4 account will receive this interest for positions that are carry positive, but the MT4 interface does not support the display of interest payments. To view your up-to-date account balance, you can sign in to the fxTrade platform at any time.

Account Balance / Reports —Due to some fundamental differences in how the two platforms calculate balances (for example, with interest and single unit trades), we recommend that you routinely check the balance of your MT4 account by signing in to the fxTrade platform. This balance is the correct balance, and is the one used in all calculations, including margin alert calculations.

http://fxtrade.oanda.com/trade-forex...r/faq#maindiff
Nothing worth having is easy.
  • #13
  • Mar 6, 2011 7:12pm Mar 6, 2011 7:12pm
Quoting Patience
What are the main differences between the OANDA fxTrade and OANDA MetaTrader platform?

Interest — At OANDA, interest is paid on a second-by-second basis. Your MT4 account will receive this interest for positions that are carry positive, but the MT4 interface does not support the display of interest payments. To view your up-to-date account balance, you can sign in to the fxTrade platform at any time.

Account Balance / Reports —Due to some fundamental differences in how the two platforms calculate balances ([b]for...
Patience, thanks for the info from your link.

My friend is interested specifically on interest paid on the unused margin in his account. Virtually all MT4 br0kers pay swap on carry-positive trades (and collect it on carry-negative trades). However, there are a few br0kers who additionally pay interest on any unused margin in the trader's account (AxiTrader is an example).

I'll ask Oanda's helpdesk, since the definition on their web page is apparently unclear. It's true that the MT4 interface doesn't support the display of interest payments, but other MT4 br0kers get around this by treating it as additionally deposited funds.

Thanks again for your reply,
David
  • #14
  • Last Post: Mar 6, 2011 7:47pm Mar 6, 2011 7:47pm
Quoting hanover
I'll ask Oanda's helpdesk, since the definition on their web page is apparently unclear. It's true that the MT4 interface doesn't support the display of interest payments, but other MT4 br0kers get around this by treating it as additionally deposited funds.
You're welcome. I just took it to mean that they haven't configured the MT4 platform to include the daily interest on balances and that's why you have to log into the FX Trade Platform to see the true balance. I must admit that the explanation isn't that clear and that it could have been worded better.
Nothing worth having is easy.
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