ComplaintsforOanda Corporation

• Initial Complaint

  07/01/2024

  Complaint Type:

  Billing Issues

  Status:

  Unanswered

  More info

  Oanda is refusing to process my withdrawal. They are illegally holding my money for no reason. I recently closed a bank account and opened up a new one. The bank account I closed was the one I linked to oanda. I linked up my new bank account and even provided numerous statements showing this is my new account. They still refuse to process my withdrawal because its a different account. At this point ** sending everything to my attorney to proceed with legal action if oanda continues to illegally withhold my money.

• Initial Complaint

  02/20/2024

  Complaint Type:

  Billing Issues

  Status:

  Unanswered

  More info

  Oanda has refused to withdraw more than $21,000 I have had in the account with them. I have been requesting a withdrawal for almost 2 months now and they keep refusing it for different reasons. I provided everything they have asked for but they decided instead of withdrawing, they will be closing my account "as per my request." I did not request my account to be closed but now it is. I still do not have my money either. They are now refusing to respond or initiate a withdrawal.

• Initial Complaint

  01/18/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Unanswered

  More info

  very hard to withdraw funds can not remove banking account information from theit system can not withdraw funds without prividing checking account numbers account was set up with credit card which expired and new account numbers changed

• Initial Complaint

  01/10/2024

  Complaint Type:

  Billing Issues

  Status:

  Unanswered

  More info

  I had deposited 250$ in my account. Now I am trying to withdraw the remaining 160$ ( theres a 20$ withdraw fee). And theres all these problem. Oanda has a 10$ inactivity fee that hit you with every month some times twice in one month! It's so absurd, I have never experienced a brokerage like it, and I've been with a few. I'm trying to withdraw, but the original card I had on there is no longer active. They stated I needed to do a wire transfer instead. In the process of me emailing them and letting them know im closing my account they hit me with 2 more inactive fees! I stated that to them, they stated to me its "oandas policies". Please stay away from oanda corporation, they are unethical and could care less about the traders using their platform

• Initial Complaint

  04/24/2023

  Complaint Type:

  Delivery Issues

  Status:

  Resolved

  More info

  It was required to trade ****** units/0.5 lots in order to receive the $500 cashback bonus.I have completed all requirements and also contacted them multiple times.However I have not received bonus as yet inspite of repeated complaints.

  Customer response

  04/27/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.
  
  Sincerely,
  
  *****************************
  
  
  
   
  
  

• Initial Complaint

  04/10/2023

  Complaint Type:

  Order Issues

  Status:

  Unanswered

  More info

  I signed up for the Oanda new client deposit and trading volume bonus on 2/28/23. I deposited $50K and met/exceeded the $30 million trading volume requirement on 3/22/23. Under the terms and conditions I signed up, I am entitled to receive the $10K bonus after confirming that I met the requirements. Oanda changed the terms and conditions after I signed up for the bonus offer and met the requirements and claimed that they will ***** the bonus after 60 days of meeting the requirements. This is unfair, unacceptable, unscrupulous, and bait and switch. Oanda has continuously changed their T&C's to delay and avoid paying out my bonus and to hold my funds hostage. I want my full $10,000 bonus to post to my account immediately.

• Initial Complaint

  04/06/2023

  Complaint Type:

  Delivery Issues

  Status:

  Unanswered

  More info

  I haven't received the promised $500 bonus. I'm a household of 1 (one), but customer service stated that someone in my household had already received the bonus. I told my neighbor about this offer, but they live in a separate unit, and have a different last name.

• Initial Complaint

  03/24/2023

  Complaint Type:

  Order Issues

  Status:

  Resolved

  More info

  Oanda was running a promotion for new accounts, which promised a welcome bonus of $500 after creating a new account and completing a set number of trades.I signed up for a new account in response to this promotion, and saved a PDF export of the pages listing the promotion.Unfortunately, the bonus never posted to my account, and when I contacted Oanda their representative claimed that I do not qualify because I hadn't completed the appropriate sign up form (I had). Amazingly, the page that links to that signup form also indicates "If you already have an account, simply log in" -- implying that the form is not a requirement. I mentioned this fact to the representative, who said that I still cannot receive the sign up bonus.I would like the $500 posted to my account, in accordance with the terms of the promotion.

  Customer response

  04/18/2023

  Better Business Bureau:
  
  At this time, my complaint, ID ******** regarding Oanda Corporation has been resolved.
  

  (By clicking "OK", your complaint will be closed as Resolved.)

  
  Sincerely,
  
  ***********************

• Initial Complaint

  03/17/2023

  Complaint Type:

  Product Issues

  Status:

  Unanswered

  More info

  Oanda was offering a $500 opening bonus for $500 initial deposit and plus $50,000 in minimum notional trade volume requirements. I completed requirements but did not receive $500 opening bonus. They said that Based I did not qualify for the welcome bonus as we received multiple entries from your household. I live with a roommate who also registered with OANDA. We are not married and we do not file our taxes jointly. We are not considered a household for tax purposes by IRS and OANDA $500 opening bonus should be created because all terms were completed.

  Customer response

  04/11/2023

  Better Business Bureau:
  
  At this time, I have not been contacted by Oanda Corporation regarding complaint ID ********.
  
  Sincerely,
  
  ***************************
  

• Initial Complaint

  03/10/2023

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  I am withdrawing all of my funds from Oanda. I tried to do a bank wire withdrawal on Monday, and was denied. Was told I must do a debit card withdrawal first. The debit card in question is lost and no longer valid. I sent proof of this from my bank to Oanda. I was then asked to fill and sign a disbursement form and was told it would be processed in 24 hours and that the debit card would be removed from my profile so I could initiate a bank wire withdrawal. This was three days ago. I have since spoken with livechat 3 different times all ensuring me it would be processed that day. Still nothing. The rep I had assigned to me is now unresponsive and surprisingly out of the office when I need his assistance the most. I was then emailed to send in the disbursement form again today when I already sent it in twice the last two days. I keep getting delayed and sidelined and will be pursuing legal action should I keep getting delayed as Oanda has already violated their terms of withdrawal on their own website by delaying me over 3 days.

  Customer response

  03/10/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.
  
  Sincerely,
  
  *******************
  
  
  
   
  
  

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩