OANDA Japan Inc, a subsidiary of online broker OANDA Corporation, will implement trading restrictions and will increase margin rates for XAG/USD.

The brokerage notes that it is currently observing extremely volatile price movements in the precious metals market, particularly in silver (XAGUSD).

To protect its customers’ assets and ensure trading safety, OANDA Japan will be increasing the XAGUSD margin rate and adjusting the maximum trading and open position amounts as follows:

• [Margin Rate Increase]

XAGUSD: 5% → 20%

Change Date: January 30, 2026 (Friday), 11pm

• [Maximum Trading Size (Maximum Order Quantity per Order)]

XAGUSD: 50,000 (10 lots) → 25,000 (5 lots)

Change Date: January 29, 2026 (Thursday)

• [Maximum Open Position (Maximum open position is the maximum open position on one side of a buy/sell transaction)]

XAGUSD: 100,000 (20 lots) → 25,000 (5 lots)

Change Date: January 29, 2026 (Thursday)

The increase in margin rates will increase the maintenance margin for currently held positions and the required margin for new positions.

Depending on an account’s equity balance, there is a risk that a stop loss (forced liquidation) will occur at the market open on February 2, 2026, when the above-mentioned changes are implemented. The broker advises its clients to consider increasing their account equity or reducing their positions in advance.

In the precious metals market, particularly silver (XAGUSD), sudden price fluctuations have resulted in extremely high volatility and very low liquidity, causing spreads to rapidly widen.

With increased volatility, trading costs with counterparties have also risen sharply.

As a result, margin rates and funding costs for the precious metal CFDs the broker offers (XAGUSD, XAUUSD) may be adjusted without notice due to worsening market conditions.

Depending on the state of the underlying markets, OANDA may temporarily suspend new trading of commodity CFDs, particularly silver (XAGUSD), to protect its clients’ capital.