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FXTrade
Multicurrency Accounts
Multicurrency Accounts
OANDA's FXTrade customers have
the option of opening multicurrency FXTrade accounts.
The following currencies are currently supported as FXTrade
account currency:
- Canadian Dollar (CAD) (as
of March 15, 2004)
- Swiss Franc (CHF ) (as
of March 15, 2004)
- Great Britain Pound (GBP) (as
of March 15, 2004)
- Japanese Yen (JPY) (as
of March 15, 2004)
- Euro (EUR)(as
of April 15, 2003)
- US Dollar (USD)
- Australian Dollar (AUD) (As
of March 29, 2004)
As
an OANDA customer, you may either open a new FXTrade
Primary account
with one of the above currencies as
your Primary Account Currency, or you may create
a sub-account with one of the above currencies as
the Account Currency of your sub-account.
Please note the following:
Account Currency: Account Currency is the currency
in which each account is held. An FXTrade customer may only
have one Primary account and
multiple sub-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
any of the available currencies 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 in any of the available
currencies, however, Secondary
accounts may only be linked to one Primary account. Secondary
accounts can be in any of the supported currencies) regardless
of the Primary Account Currency. You may freely transfer
funds between the Primary and Secondary
accounts. You may deposit funds directly in your sub-account
in the currency of the sub-account.
Example:
Susie's Primary Account Currency is US dollar (USD), while
she holds 2 Secondary accounts (sub-accounts) with OANDA:
1 in GBP and 1
in Euro. Susie may deposit Euros directly in her EUR sub-account
and USD directly into her USD Primary account. When Susie
decides to withdraw funds from her account, funds
will be deducted from the account where they came from.
She will be able to deposit Euro in her Euro account
and withdraw Euro from her Euro sub-account. However,
she will not be able to deposit USD to her Primary account,
transfer the funds to
her EUR sub-account, then withdraw them from her EUR sub-account.
Deposits & Withdrawals
Deposits
Please use the instructions
for "Deposit
of Margin Funds".
Withdrawals
To withdraw funds, please submit a Withdrawal
Request. To withdraw from sub-accounts, please
include the sub-account number in the "Comments" section
of the withdrawal form.
Questions?
If you have any questions about creating
or operating a multi-currency account, please contact
us.
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