Oanda imposing dormant account fees for inactive trading

Broker Comparisons & Reviews
1

I got an email from Oanda saying they will start charging fees because my account has been inactive for a long time. I haven’t made any trades in several years and now they want to take money just for not using the platform.

This really bothers me because Oanda already has questionable practices. They hide extra charges in their overnight rollover costs that they call ‘administrative fees’. Most forex brokers only charge the standard rollover based on currency interest rate differences, but Oanda adds their own hidden costs on top of that.

Does anyone else think this is unfair? It feels like they are trying to squeeze money from customers in every possible way. What do you think about brokers charging inactivity fees?

2

Yeah, Oanda hit me with those dormant fees back in 2019. Had about $200 sitting in an old account I’d forgotten about.

They gave me 6 months warning though - sent multiple emails before charging. Most brokers do this after 12-18 months of no activity.

You’re spot on about their rollover markups. They were tacking on extra costs beyond standard interest rate differentials. That’s why I switched most of my trading to IC Markets - way cleaner raw spreads.

If you’re done trading, just withdraw everything. Empty accounts don’t get dormant fees. Takes 2 minutes to request withdrawal.

3

Just withdraw your money and close it down.

4

Make one tiny trade to reset the dormant clock.

5

Most brokers impose dormant fees after 12 to 24 months of inactivity to cover their costs. If you are not planning to trade again, consider closing your account.

Regarding the rollover markup, this is common among retail brokers. They typically add fees onto interbank rates. Oanda does mention these fees upfront in their schedule, which is better than brokers that hide them. To avoid these charges, maintain some trading activity or choose a broker with longer dormancy periods.

6

Dormant fees suck but they’re pretty common. Check their fee breakdown to see what they’re charging you.

If you’re planning to trade again, might be worth switching brokers.

7

The dormant fee warning gives you plenty of time to figure out your next move.

Want to keep the account fee-free? Just make any tiny trade every few months - it’ll reset their activity timer.

Or simply withdraw everything. They can’t charge fees on zero balance.

8

Dormant fees are standard now, but timeframes vary by broker.

Not using the account anymore? Just withdraw everything - that’ll stop future charges. Most brokers won’t hit you with dormant fees if your balance is zero.

The rollover markup thing is separate but pretty common. Retail brokers gotta make money somehow.

9

Pull everything out right now. Can’t charge dormant fees on empty accounts - there’s nothing to take. The rollover markups? That’s just how Oanda makes money, not some scam. They’ve got bills to pay like any business. Every retail broker marks up those interbank rates anyway. Look, dormant fees after years make sense. Keeping your account open costs them money - compliance stuff, reporting, system maintenance. You basically got free storage for years. Withdraw it all and close the account properly so you don’t deal with this again.