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Oanda and "inactive" accounts

  • #1
  • First Post: Jul 23, 2011 9:14pm Jul 23, 2011 9:14pm
I've opened a live account in OANDA now and my trading style involves longer time-frames which entails opening positions that sometimes last up 5-6 months depending on the market conditions and the price feeds being given.

First thing I'd like to clear up is that does OANDA charge any inactivity fee on your account for not taking any trades on a given set of time-frame? And second thing I'd like to clear up is, how much do they charge if they do and what is usually the maximum "inactive" threshold before they start deducting from said accounts?

Feedbacks would be pretty much appreciated. Thanks
  • #2
  • Jul 24, 2011 2:13pm Jul 24, 2011 2:13pm
Pretty sure the answer is no. A while ago other retail brokers had a spit because Oanda published statistics claiming that they had the highest proportion of profitable traders, but they were including dormant accounts that had continued to aquire interest. Pretty sure most of these dormant accounts would not have been in the black if inactivity fees were enforced. Why not just ask them though? Go to thier site and click on live chat or just email them.
  • #3
  • Jul 24, 2011 5:22pm Jul 24, 2011 5:22pm
I've had a Live and a Demo with Oanda since 2007. I've left both dormant for at least a year and neither were ever closed. I just recently started trading the live account again and no real problems...
  • #4
  • Edited 5:40pm Jul 24, 2011 5:30pm | Edited 5:40pm
Quoting DaTrader
I've had a Live and a Demo with Oanda since 2007. I've left both dormant for at least a year and neither were ever closed. I just recently started trading the live account again and no real problems...
This is what I was looking for. Thanks for the feedback, I really appreciate it.

Quoting Agro
Pretty sure the answer is no. A while ago other retail brokers had a spit because Oanda published statistics claiming that they had the highest proportion of profitable traders, but they were including dormant accounts that had continued to aquire interest. Pretty sure most of these dormant accounts would not have been in the black if inactivity fees were enforced. Why not just ask them though? Go to thier site and click on live chat or just email them.
I tried yesterday but the live chat was closed. Anyway, thanks for the feedback. I knew I made the right choice with Oanda.
  • #5
  • Last Post: Jul 24, 2011 5:41pm Jul 24, 2011 5:41pm
Quoting [Sniper]
I tried yesterday but the live chat was closed. Anyway, thanks for the feedback. I knew I made the right choice with Oanda.
They stated on their website that customer service would be unavailable this weekend.

Quoting DaTrader
I've had a Live and a Demo with Oanda since 2007. I've left both dormant for at least a year and neither were ever closed. I just recently started trading the live account again and no real problems...
I've had live sub-accounts with $0 balance for months and they haven't closed either.
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