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The application requirements to open an account with OANDA vary based on the region in which you reside. To comply with our regulators, OANDA follows extensive anti-money laundering and due diligence guidelines. To comply with these guidelines, our Know Your Customer (KYC) policy is to gather information to understand all our customers’ source of funds and wealth. This information is kept strictly confidential.
Can I apply to open an account?
Residents of the United States and its territories may apply for an OANDACorporation account. We cannot accept applications from third parties.
To get more information about our specific divisions ,visit our website .
What types of accounts are available?
For more information about account types , visit our website .
What information do I need to provide to open an account?
You will be asked to provide the following during the application:
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Name
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Address
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Date of birth
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Social security number (SSN)
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Employment details
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Financial information
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Bankruptcy status
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Trading experience
We will do our best to identify you electronically by matching the details you supplied during registration to details in your credit file, this is known as electronic identification or EID (please note we do not check or see your credit score).
We may email you within 24-48 hours following the submission of your application, asking for further supporting information or clarification of the information you provided during registration. We recommend monitoring your emails (including your junk folder) after you have submitted your application.
Even if you pass EID please monitor your inbox and junk mail, as a member of our Onboarding team may reach out to you to confirm or clarify details on your application.
Actions to ensure swift processing of my application
To ensure your account is processed in a timely manner, please provide current and complete information. Kindly try to avoid abbreviations and pay attention to application details like ‘currency type’, when providing figures etc.
If you are asked to provide supporting documents, please follow our Proof of identity and Proof of address guidelines as outlined in the section below.
Is my application complete?
Uploading your documents does not complete registration. A member of the Onboarding team will review your application and be in touch via email either for further details or to let you know your account has been approved and is ready for funding.
Do I need to provide supporting documents to open an account?
If you do not pass electronic identification (EID), you will be prompted to upload the following supporting documents at the end of the application:
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Proof of identity
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Proof of address
If your photo identification shows your current residential address, then a second document confirming your address is not needed.
Please monitor your email (including your junk folder) 24-48 hours following submission of your application, as we may request further supporting documentation, such as:
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Acopy of your signed Social Security Number (SSN) card:only requested from some clients and in certain circ*mstances
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A notarized photo ID and proof of address : only requested in rare instances.
Proof of identity
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Government-issued photo identification
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Showing your photo, name, and date of birth
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Remains valid/does not expire for threemonths.
Please ensure that the full page of the document is visible, all written details are legible and the face in the photo is clear/identifiable.
Below are examples of the kind of identity documents that we may accept:
*Please be aware that these documents are for illustrative purposes only and may be out of date.
Proof of address
I f your photo identification shows your current residential address then a second document confirming your address is not needed.
Personal bill/statement issued in your name must be:
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Issued to a residential address. We cannot accept P.O. boxes or business addresses. We also cannot accept c/o “care of addresses.
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Dated and mailed within three months of the current date in which we review your document.
Social Security Number
If the number provided upon registration cannot be validated during electronic identification (EID) then a legible, signed and scanned image will be requested. If the document is stamped “Valid for Work Only with DHS Authorization”, please include a valid US Visa entry document or similar (Permanent Resident Card or Employment Authorization Card).
Notarized documentation
The information provided on the online application is sent to Equifax to verify your identity electronically. If the results indicate you’ve been a victim of fraud or have a consumer security freeze on your data, notarized copies of your proof of identity and proof of address will be requested. Photocopies of your documents can be notarized by a Notary Public. You may find a list of Notary Publics on the Secretary of State website of your respective state.
