TradeStation Forex (IBFX) / OANDA Account Transfer FAQs

While you have likely learned that TradeStation Forex (IBFX) is exiting the forex market, OANDA is pleased to be selected to provide trading services to you. Here is a list of questions you might have regarding the transfer. 


If you have found that your account balance and/or positions have been transferred from TradeStation and you no longer wish to maintain an account with OANDA, please follow the instructions below for us to close your account and return your balance:

I. If your transferred account was an Individual Account, we will require the following details:

(1) a valid government-issued photo identification clearly displaying your full name, current address and date of birth,

(2) a copy of your bank statement clearly displaying your bank name, account holder name and account number. You may black-out other information such as transaction history and account balance. Please note that OANDA does not process 3rd party withdrawals; we are only able to return funds to a bank account in your name only,

II. If your transferred account was a Joint Account, we will require the following details:

(1) a valid government-issued photo identification clearly displaying your full name, current address and date of birth,

(2) a copy of your bank statement clearly displaying your bank name, account holder name and account number. You may black-out other information such as transaction history and account balance. Please note that OANDA does not process 3rd party withdrawals; we are only able to return funds to a bank account in your name only,

(3) if the additional joint account holder does not appear on your submitted bank statement, we will require a copy of a written Notice of Severance of Joint Tenancy agreement signed and dated by the additional account holder.

III. If your transferred account was a Corporate/Business Account, we will require the following details:

(1) a completed copy of the Entity Certification agreement, signed by an authorized signing officer or director of the business entity
The link to the form is below:

https://fxtrade.oanda.com/documents/wl/r10n/US/en/oanda_oc_entity_certification.pdf

(2) a valid government-issued photo identification clearly displaying the full name, current address and date of birth of the signatory in the Entity Certification agreement above,

(3) a copy of your business bank statement clearly displaying your bank name, account holder name and account number. You may black-out other information such as transaction history and account balance. Please note that OANDA does not process 3rd party withdrawals; we are only able to return funds to a bank account in your business name only.

For your security, please use OANDA's secure, upload link below to submit scanned images/digital photographs of the documents above:

https://register.oanda.com/#/document-upload

As a regulated broker, please note that OANDA reserves the right to request for additional information under "Know your Customer" regulations.


How do I access my OANDA account?

To sign in to OANDA’s award winning fxTrade platform, please visit here. Be sure to click on the fxTrade tab (above the username field) before signing in. Also ensure that you are entering your username and password correctly. Both are case-sensitive. To reset password for your fxTrade account click here

After you are logged into your account online, please download the fxDesktop launcher to get quick access to the fxTrade trading platform. Alternatively, you can download the fxDesktop client from here.
 


What is my OANDA fxTrade username?

Please refer to OANDA’s email distributed on March 5th titled “Your TradeStation funds have been added to your OANDA account”  which contained your username.  Check your spam/junk mailbox if you are unable to locate the email. 


What is my OANDA fxTrade password?

You can set your password when you complete registration using your unique registration link.  If you do not remember your password, you can reset it by using the https://www.oanda.com/account/password-reset/ link.  Please note that you must complete registration using your unique registration link before you can log in.
 


I missed the window to opt-out at TradeStation. What do I do? 

If you missed the opt-out deadline of March 1, 5pm EST, you must first complete your OANDA account registration using your unique registration link(s) emailed to you. The email will have come from the sender: frontdesk@oanda.com.  You will then be able to perform account funding/withdrawal activities. Learn more about withdrawing funds.


I already have an OANDA account. How can I merge my TradeStation account(s) with my existing OANDA account?

Please ensure that you have completed registration for your TradeStation account(s) using your unique migration link(s) emailed to you. Once completed, please email us at frontdesk@oanda.com with your existing OANDA username as well as your TradeStation account username and we will move the funds from one account to the other. 

Please note that we will not be able to transfer funds to or from your migrated IRA account.


Will I need to provide personal information to open an account?

Yes. We will need you to verify that we have your correct address, as well as a few other details.


What will happen to my open positions?

All open positions as of 12 noon EST on March 4 were closed at TradeStation and re-opened at OANDA at the same price that they were closed at. This began at approximately 9:00 p.m. EST on March 4, when TradeStation Forex (IBFX) accounts, client money balance, customer data and non-transactional history were transferred to OANDA. 

Following this transfer OANDA will immediately become the counterparty to your positions and the service provider for your account(s). Upon transfer, you will be bound by the OANDA Customer Agreement, which supersedes and replaces the current customer agreement you have in place with IBFX/TradeStation. Please note that TradeStation Forex (IBFX) will cancel any pending or contingent orders (including Stop Losses and Take Profits) after trading is suspended on March 4, 2016, and they will not be reinstated at OANDA. If you wish to renew these orders, you must reinstate them in your new OANDA account.
 


How do I change the funds in my account from one currency to another?

Using the “My Account” tab,  create a sub account in the base currency of your choice (if you do not have a sub account in this currency already).  Next, use the “Manage Funds” function to move funds between the 2 accounts.


Can I continue to trade with the TradeStation FX Platform?

Beginning March 5, 2016, you will continue to have access at no charge to your TradeStation FX platform for research and analysis. Trade orders will need to be executed using one of OANDA's many trade platforms (FxTrade, OANDA MT4, FxTrade mobile, OANDA's trade API).


Will stops and limit orders (pending orders) be transferred?

No. TradeStation Forex (IBFX) will cancel all pending or contingent orders after trading is suspended on March 4, 2016, and they will not be reinstated at OANDA. If you wish to renew these orders, you must reinstate them in your new OANDA account.


Will stop losses and take profits be transferred?

No. TradeStation Forex (IBFX) will cancel all stop losses and take profits after trading is suspended on March 4, 2016, and they will not be reinstated at OANDA. If you wish to renew these orders, you must reinstate them in your new OANDA account.


What is the currency of my OANDA account?

You will have one new fxTrade sub-account created for each TradeStation Forex (IBFX) account that was migrated. The currency of your funds in the sub-account will be the same as your account currency at IBFX. If your IBFX account contains funds in other currencies, they will be converted to your OANDA account currency. (All funds in other currencies in your IBFX account will be converted to your account currency.) OANDA sub-accounts hold funds in one currency. All trading profits and losses are converted back to your account currency automatically.


If I trade using the MT4 Platform, will I need to download OANDA’s version of MT4?

Yes. OANDA has a custom built bridge from MT4 to OANDA’s exceptional execution engine. To trade with OANDA on MT4, please download the OANDA MT4 platform at http://fxtrade.oanda.com/account/mt4-download and sign in using your MT4 account ID.

For further instructions view how to set up OANDA MT4 video.  


Will my MT4 account and fxTrade account be the same?

No. Your FxTrade account is your Primary account. You will also have a sub-account for the OANDA MT4 platform. It’s easy to switch funds between accounts. In the “My Funds” section of your account portal, click “transfer”. Once you have your OANDA username, you can log into your account at https://www.oanda.com/account/login

For further instructions view how to set up OANDA MT4 video.  


Can I trade on fxTrade using my mobile device?

For more details on the fxTrade Mobile platform and download links for iOS or Android, please visit: http://www.oanda.com/forex-trading/platform/mobile-platform


Can I trade with OANDA using automated strategies programmed via an API?

Yes. You can develop trading strategies and automate your trading experience via the OANDA API. Please visit our development portal to learn more: http://developer.oanda.com/


What is OANDA’s margin requirement?

OANDA’s Margin requirements differ by geographic region. For the full list, please visit
https://oanda.secure.force.com/AnswersSupport?urlName=OANDA-fxTrade-Margin-Rules-1436196464450&language=en_US


Will OANDA support all currency pairs?

No, there are a few currency pairs not available for trade with OANDA
AUD/HUF, CAD/HUF, CHF/HUF, CHF/TRY, CNH/JPY, CZK/HUF, EUR/MXN, GBP/HUF, GBP/TRY, JPY/HUF, TRY/HUF

Further, clients who will have an account in our U.S. division, the following pairs will not be available for trade
XAG/USD, XAU/USD, XBR/USD (offered as Brent Crude Oil), XTI/USD (offered as West Texas Oil)


Will OANDA support all of the same order types?

OANDA order types differ from what was available via the TradeStation Forex (IBFX) platform.


My question wasn’t addressed in this list:

For non-urgent issues, please email us at frontdesk@oanda.com.  Otherwise we can be reached via live chat or 1-877-626-3239.

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