Oanda.ca Depositing Disaster

Wow, I’ve never seen a company that has made it so hard to give them money. After many failed credit card deposit attempts with Oanda Canada and several service center calls we found out that I wasn’t actually typing in my postal code incorrectly that that it was, in fact my bank (a major Canadian bank). So that option went out the door. I wanted to make my first move from demo to a small account ($500 CAD) and while they offer very small lot amounts, the cost of sending only $500 would be ridiculous.

The only options they had remaining were bank wire ($30 at my bank) or PayPal (huge fees on top of PayPal’s own fees). Can’t even send them a damn cheque! Its a shame because I was enjoying their platform but I’m on to Questrade even though I despise theirs. I already have other accounts with them and transferring is going to be simple. I’m not sure how it is for American customers with Oanda, but here in Canada its a disaster. I really don’t see how anyone would realistically try them out with anything less than thousands of dollars to deposit.

Hi Matt514,

We apologize for the experience you’ve had and would like to better understand the specific situation. If you can kindly email <frontdesk at oanda dot com> and ask for Sven, he’d be happy to personally investigate your case further.

Sincerely,
Bernice, OANDA

Hi Bernice.
I am using Oanda Canada.
I had no problem with the debit card deposit, but my limit is 500$, and I can not figure out how to increase it.
When I try to deposit an higher amount the app show a message like “increase your deposit limit…”
But how can I do it?

Thank you.

Send an email to:
frontdesk@oanda.com

With the Subject: Risk Tolerance.

In the email body write:
“Hi,
I would like to increase my risk tolerance limit.”

They will then ask you some questions about your income and employment to determine your maximum deposit. The questions are as followed:

v20 Account Number:
Work Address:
Position:
Income: $
Net Worth: $
Increase tolerance to: $

This is what they do for Canadians anyways.

Hope this helps.