Home 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)
• Swiss Franc (CHF)
• Great Britain Pound (GBP)
• Japanese Yen (JPY)
• Euro (EUR)
• US Dollar (USD)
• Australian Dollar (AUD)

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.