You can trade cryptocurrencies as CFDs from the same OANDA trading account that you use to take a position on FX, indices, metals, commodities and bonds CFDs.
Trading cryptocurrency CFDs means you will not acquire any physical holdings of cryptocurrencies,
Below are additional information regarding OANDA’s cryptocurrency CFD offering:
No requirement for cryptocurrency wallets
Trading cryptocurrency CFDs from your OANDA account means
No requirement of registering on a cryptocurrency exchange
You can start trading cryptocurrency CFDs from your OANDA account immediately, and do not need to apply and wait for approval with a private cryptocurrency exchange.
Fractional units available
OANDA has lowered the barrier to entry into the cryptocurrency markets. You can take fractional positions down to 0.01 of a cryptocurrency.
Leveraged trading available
OANDA offers leverage or margin on cryptocurrency CFD trading. Please visit our
Short
positions
available
Trading cryptocurrency CFDs
Order type limitations
You can’t place Guaranteed Stop Loss orders (GSLOs) for cryptocurrency CFDs. You can place Stop Loss Orders (SLOs), but using a Stop Loss won’t reduce your margin requirement.
Hours of operation
Please refer to our website for cryptocurrency CFD trading hours.
Financing Cost
Please refer to our website for cryptocurrency CFD financing costs.
What does a ‘fork’ or ‘airdrop’ mean to me?
OANDA Asia Pacific offers CFDs on various cryptocurrencies and we take our pricing from various liquidity providers. The protocols of a blockchain network are not under our control and there can be changes to the blockchain protocols which result in forking events where a cryptocurrency splits into two or more digital assets.
We support neither forking nor airdrops and we are under no obligation to do so. Should such an event occur you agree that we have the sole right, title and interest to any digital currencies and digital assets that occur or are created as a result. We shall have the sole discretion to take any action with or without any advance notice to you, notwithstanding that we are under no obligation to take such action.
What does a ‘fork’ mean in blockchain?
A fork is when there is an update of change to the blockchain software that results in a split in the blockchain network. The result of a fork is that a new second cryptocurrency will be created on that forked blockchain.
What is an ‘airdrop’?
An airdrop is a marketing event where to promote a new digital currency; an issuer may send coins or tokens to wallet addresses of members of the blockchain community. This may be for free or in return for a small service.
Risk Disclosure for Cryptocurrency CFDs:
VolatilityA measure by which the price of an instrument is expected to fluctuate or has fluctuated over a given period. can bring risk as well as opportunity, and price fluctuations could see a cryptocurrency lose material amount of value overnight. Due to this high volatility, the cryptocurrency market is considered high risk. Prior to trading in cryptocurrencies, you should understand your appetite for such risks, and implement a suitable risk management strategy accordingly. CFD trading is high risk and is not suitable for everyone.
Disclaimers for Cryptocurrency CFDs:
Cryptocurrencies are not regulated by the Monetary Authority of Singapore (MAS) as they are not legal tender or securities. Investors should be aware that they do not have any legislative protection when they deal with cryptocurrencies and related investment products. If you choose to invest in unregulated products, you will not be protected under MAS regulations. Please ensure that you are fully aware of the risks involving cryptocurrencies and if in doubt, you should consult an independent financial adviser under a separate engagement. To find out more information about cryptocurrencies and risks, you can go to the MoneySense website here .