Spreads and margins

We offer competitive spreads across our full range of CFD markets, including shares, indices, forex, commodities and metals. Take advantage of 200:1 leverage and choose the account that’s right for you:

Spread-only account
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Margin tiers

When an instrument has margin tiers, it generally means that the larger the position you hold over a certain size, the higher the applicable margin rate.

Different margin rates may apply depending on the size of your position, as your position size increases, so does the incremental margin rate on a tiered basis.

For example, on USD/JPY the margin rates are:

Tier Net Open Position (USD) Margin
1 < 2 M 0.50%
2 2-5M 1.00%
3 5-50M 5.00%
4 > 50M 20.00%

A position size of 3.5m USD/JPY would have a margin requirement of USD 25,000.

This is calculated as: (units in tier 1 x tier 1 margin rate) + (units in tier 2 x tier 2 margin rate) + (units in tier 3 x tier 3 margin rate).

Tier Net Open Position (USD) Margin rate Margin total (units x margin rate)
1 2,000,000 0.50% 2,000,000 x 0.5% = $10,000
2 1,500,000 1.00% 1,500,000 x 1.00% = $15,000
3 0 5.00% N/A
4 0 20.00% N/A
Total 3,500,000 $10,000 + $15,000 = $25,000
OANDA’S market rates in real time

Different margin rates may apply depending on the size of your position, as your position size increases, so does the incremental margin rate on a tiered basis.

Events impacting spreads

At certain times and in certain market conditions, our spreads could be wider than usual. This includes:

Opening and closing of markets
Major international or geopolitical events
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Margin trading

We offer clients the ability to trade with leverage. This means that you can enter into trades larger than your account balance and trade without depositing the full value of the trade that you wish to open. One of the benefits of trading with leverage is that you could potentially generate large profits relative to the amount invested. On the other hand, trading with leverage could also result in significant, rapid losses to your capital. Your losses can exceed the amount of your deposits.

Add funds

We take a form of security (or deposit) against any losses you may incur when you trade

Bars Margin

This collateral is typically referred to as margin

Limit Order

The margin needed to open each trade is derived from the leverage limit associated with the size of the position and the instrument you wish to trade

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Frequently asked questions
Smart answers to common questions.

How do market events and weekends impact margin?

Price volatility and changes in global market liquidity can result in large spread increases around market openings and closings, following news announcements and during times of uncertainty. At such times, our spreads usually widen to reflect market conditions. However, there may be occasions during which we opt to implement a fixed spread rather than allowing a spread to continue to widen.

If you leave trades open during the weekend or before markets close, or in the event that a particular market is suspended, you cannot close them until the markets reopen. Note that prices may change significantly or ‘gap’ when trading resumes. If prices move against you, a margin closeout may be triggered when trading resumes if you have insufficient funds in your account to support your trading.

Spreads (the difference between the bid price and the ask price) typically widen just prior to closure of the markets and when they open, to reflect decreased liquidity in the global markets. These widened spreads could trigger stop-loss orders or margin closeouts when a position is open at this time.

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Choose the account that’s right for you. A spread-only account or a spread-and-commission account.