OANDA Japan to add more currency pairs to FX offering
Online trading company OANDA Japan is expanding its Forex offering. Today, the broker, which is a part of OANDA Corp, announced that it will add five currency pairs to its offering, effective February 1, 2021.
The list of additions includes: MXN/JPY, EUR/NZD, NZD/CAD, CAD/CHF, and NZD/CHF. These FX pairs will be available to trade on MetaTrader 4 (MT4) and MetaTrader 5 (MT5) via OANDA’s Tokyo server.
Let’s note that the margin requirements depend on the type of account one has. For instance, the minimum margin requirement regarding MXN/JPY trades is 10% for holders of individual accounts and 3% for holders of corporate (pro) accounts.
OANDA Japan regularly improves the trading conditions for its clients. In the fall of last year, it relaxed the margin requirements for a number of Forex instruments. For instance, the broker reduced the margin rate for AUD/SGD for corporate accounts from October 26, 2020, from 3% to 2%. Also, effective October 19, 2020, OANDA Japan changed the margin requirement for EUR/NOK from 3% to 2%.
Earlier in October, as FX News Group has reported, the Japanese FX broker revised the margin requirements for a raft of pairs. For fxTrade (NY server) accounts, the new margin for AUD/JPY, NZD/JPY, GBP/USD, NZD/USD, AUD/USD, EUR/AUD, EUR/NZD and USD/SEK became 2%. This compares to the previous requirement of 3%.