2 weeks to open a Oanda Account?

I just spoke to Oanda after sending my docs and a funding check (bank draft) and they said it would be two weeks or more before I can trade with them ??? (live)

Has anyone else had this experience?? that seems like an eternity in FOREX!


they opened mine in a day and a half

how did you fund it???

i funded it with paypal, big mistake, paypal take 3% of whatever you receive. i recently withdrew all the money so i could refund it via bank wire.

u do know that they take a fee for refunding via wire tranfer aswell, for an international wire transfer its $40

FXTrade - Fund Withdrawal

When i was with saxobank, they didnt charge anything for funding or withdrawing. But their spreads were higher, eitherway i dont think it makes that much of a difference.


I wired the money and it was in the account the next day -

yeah i know that, Ive grown my account to a point where 3% is greater than the �25 withdrawal fee, and the gulf between them will only grow as my account grows. Plus there was the added disadvantage of having a USD demoninated account and paypal’s exchange rates aren’t that good.


I send them a check (certified funds) made out to me (as I always do) endorsed over to them (standard drill) but they won’t accept it because it’s from my corporate account therefore it is a two party check…


I ask them to overnight my check back to me so I can send them a wire…


three phone calls couple e-mails later they call they call me asking if [B][U]I[/U][/B] have a Fed-Ex number?? because they don’t have one to overnight the check back to me with…


I give them my corporate Fed-Ex number and Josh says he “will see what he can do but wouldn’t it be easier if I just had them snail mail it?”

“Uh…no Josh…just want to get it back and be able to track it because …uh…it is cash yeah know??”

I’m really non-plussed over a company that acts like Fed-Ex is some alien or state of the art form of correspondence…maybe their actually from Romanistan…or the Planet Vultaire with the Diabolical plan of taking over earth by driving us all looney???


did u scan and upload ur docs ?

opened my account with in 4 days,… and i chaps (uk bank transfer to their london offices bank) and that took 3 days,. wasnt charged no fees their as it was uk bank to uk bank,.

but i wont withdraws come with a charge of 25GBP ish,… not to fussed about that as money will not be coming out for a long time, investment wise,

Edit: just checked the dates,… its odd having the posts backwards aswell ,…changed it,… :wink:

Not for nothing, but they make it pretty clear they can’t accept that stuff, so really this is all your fault. :smiley:

That is just a game Oanda plays. They did same with me, but If you noticed your check is cashed by them while you are waiting and guess who is playing with your money while you are in a waiting mode?

But again perhaps it is a good pause, because with their stinky platform disconnecting you in the middle of the trade several time per every 30 min, it will save your funds that you have high probability of losing due to Oanda platform instability.

Good luck

Shouldn’t have given them any check or whatsoever before your account is ready for funding.

I got mine for less than 24 hours. And funding with paypal under 6 hours. Though my trading now has a minus haha. I don’t really like Oanda’s leverage, it sure can save beginner’s money, but at the same time, it will take a long time to make big profit. Good luck anyway.