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Euro Accounts
Euro Accounts
As of April 15, 2003, OANDA's FXTrade customers have
the option of opening Euro-based FXTrade accounts! As an OANDA customer, you may either open a new FXTrade
Primary account with Euro as your Primary Account Currency,
or you may create a sub-account with Euro as the
Account Currencyof your sub-account.
Please note the following:
Account Currency: Account Currency is the currency in
which each account is held. An FXTrade customer may have
multiple accounts, each in different currencies. The Account
Currency of an account cannot be changed.
Primary
Account: Your Primary account is the first account
that gets created after you fill out all of the forms and
accept the Account Agreements. The Account Currency of your
Primary account is the currency that was selected when the
Primary account was created. Prior to April 15, 2003, the
default Account Currency for all Primary accounts was US dollar
(USD). When you open a new Primary account, you may now select
Euro as the Primary Account Currency.
Secondary Account (or sub-account)
: Secondary accounts may be created under your Primary
account without having to resubmit Account Application forms.
Secondary accounts(s) are always linked to your Primary account.
You may have multiple Secondary accounts, however, Secondary
accounts may only be linked to one Primary account. Secondary
accounts can be in any of the supported currencies (at this
time USD and Euro) regardless of the Primary Account Currency.
You may freely transfer funds between the Primary and Secondary
accounts. However, fund deposits and withdrawals may only
go to or come from the Primary account.
Example:
Susie's Primary Account Currency is US dollar (USD), while
she holds 2 Secondary accounts with OANDA: 1 in USD and 1
in Euro. When Susie deposits funds in her account, all funds
are processed in US dollar and are credited (in USD) to her
Primary Account. She can freely transfer funds from her Primary
Account to any of her Secondary accounts (in either Euro or
USD). When Susie decides to withdraw funds from her account,
funds will be deducted from her Primary account and she will
receive them in US dollar.
Primary Euro Accounts for Existing Customers
Until May 30, 2003, existing FXTrade
customers may transfer funds from their Primary USD account
to their new Primary Euro account. Please follow the following
instructions to transfer
funds from your Primary USD account to your new Primary Euro
account.
Primary Euro Accounts for New Customers
When opening a new FXTrade account, you have the option
to select Euro as your Primary Account Currency in the "Account
Application" Form. When Euro is selected as your Primary
Account Currency, all deposits and withdrawals processed for
your Primary account will be processed in Euro.
Secondary Euro Accounts
You may create Secondary accounts with Euro as the Account
Currency. All Secondary accounts are linked to your Primary
account. To add a Secondary account to your Primary account,
please contact
us.
Deposits & Withdrawals
Deposits for Primary Euro accounts
If the Account currency for your Primary
account is Euro, please use the instructions
for "Deposit
of Margin Funds in Euro".
Withdrawals from Primary Euro accounts
To withdraw funds from your Primary
Euro account, please send us a Withdrawal
Request.
Deposits and Withdrawals for Secondary Euro
accounts
To deposit or withdraw funds to
and from your Secondary Euro account, please use the "transfer
form " to transfer funds between your existing
FXTrade accounts online.
Questions?
If you have any questions about creating
or operating a Euro account, please contact
us.
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