OANDA Japan sets 30-day limit for demo accounts
Online trading company OANDA Japan is changing the conditions for demo account owners. In a notice published on its website today, the online broker explains that, starting from next month, it will no longer support unlimited demo accounts.
Until now, the demo accounts at OANDA Japan could be used for an unlimited period of time. However, the data concerning demo accounts that were once opened and are not used at the present now is accumulated. The huge amount of data has increased the load on OANDA’s servers.
This is also because there are some cases where the demo accounts are used for purposes other than their original purpose, including commercial use, which puts additional burden on the servers.
From February 1, 2021 the expiration date of the demo accounts will be 30 days after opening the account. For existing demo accounts, the expiration date will be February 28, 2021.
This restriction will not apply to clients of OANDA with Gold status.
Speaking of trading accounts offered by OANDA, let’s recall that the broker has recently made available a new pro trading account to its clients in Australia. This new Professional Trading account will allow experienced clients to access a range of features including 100:1 leverage, margin relief when they place a guaranteed stop-loss order, and attractive volume rebates.
However, this account is not for everyone. Traders must meet stringent criteria in order to qualify as a wholesale client or sophisticated investor before they can upgrade to the Professional Trading account.