Firms like OANDA Global Markets are required to separate client money from their own resources. This means that OANDA Global Markets is not allowed to use these monies for any of its business activities, Client money is thus ring fenced and held in separate accounts to ensure that this money is protected in the unlikely event that OANDA Global Markets becomes insolvent.
OANDA Global Markets is authorised and regulated by the Financial Services Commission (FSC) in the British Virgin Islands (BVI) which has rules about the protection of client money.
What happens to my money once I make a deposit?
We will treat any money we hold on your behalf as client money, and therefore hold your money in a segregated client money bank account.
We will hold your (and other customers') client money in a pooled client bank account with one or more third party bank or credit institutions, the identity of which is available on our website.
We will not pay interest on any client money that we hold on your behalf as indicated in our terms of business.
Our terms of business also include that you agree that we may transfer client money to a third party as part of a transfer of all or part of business.
Your money is held in segregated bank accounts separate from the money of OANDA Global Markets. This means that it is easily identifiable as client money so OANDA Global Markets and its creditors do not have any charge, lien, rights of set-off or retention over it.
What happens to my money if OANDA Global Markets goes into liquidation?
We may place funds in notice or term deposit accounts with a notice period or term of up to 95 days. Placing client money in notice or term deposit accounts does not in itself affect your ability to deal with or withdraw funds from your account with us, however in the unlikely event of insolvency of OANDA Global Markets Limited, such amounts may not be immediately available upon request.
In the unlikely event of OANDA Global Markets going into liquidation all of our clients would have their share of segregated money returned less the administrators costs in handling and distributing these funds.
What happens if one of the banks OANDA Global Markets uses to hold my money goes into liquidation?
OANDA Global Markets will not be responsible for the acts or omissions of any third-party bank or credit institution holding your money.