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Oanda Neteller

Your expert
Adam N.
Fact checked by
Updated
5d ago
Personally tested
Data-driven
Independent

Does Oanda support Neteller as of June 2024?

Yes, you can use Neteller to fund your account at Oanda.

Looking for the best brokers that accept Neteller? You are in the right place. Our brokerage analysts compiled a list of the best Neteller brokers in the world by checking their services and opening an account at each one of the reviewed brokers. Alternatively, for more details on all withdrawal options available at Oanda, visit this guide on Oanda's withdrawal, compiled by our analysts after live testing the broker's withdrawal services.

Oanda features and service highlights

💰 Deposit fee $0
💰 Withdrawal fee $0
💳 Deposit methods Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller
💸 Account base currency EUR, USD, GBP, AUD, CAD, CHF, HKD, JPY, SGD
💸 Minimum deposit $0
🗺️ Country of regulation USA, UK, Australia, Singapore, Canada, Malta, Japan, British Virgin Islands
🎮 Demo account provided Yes
📋 Read more Check out the Oanda review for 2024
My key findings in a nutshell
Adam
Adam Nasli
Forex • Algo Trading • Market Analysis

I've thoroughly tested Oanda services with our analyst team by opening a real-money account and these are my most important findings:

  • Neteller offers safe and secure online payment services, regulated by the UK’s Financial Conduct Authority (FCA).
  • Neteller has specific features for forex and other online traders.
  • It offers the option to buy and sell 40 different cryptocurrencies.
  • International money transfers are free to a bank account, but it charges higher fees than some of its competitors on other services.
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78.3% of retail CFD accounts lose money

How safe is Neteller?

Neteller is a web-based payment provider, offering money transfer and online payment (e-wallet) services. It’s available in 200 countries and offers a digital wallet in 40 currencies, plus a prepaid card in Europe and the UK.

It was established in 1999 and after a series of mergers it is now owned by the UK-based Paysafe Group. It specifically targets forex traders, cryptocurrency owners and gambling clients.

Neteller is a safe and secure online payment system, regulated by the FCA in the UK. It offers enhanced safety features, such as IP checking, safety code, a two-step verification option and advanced anti-money laundering measures.

Your bank and credit card details are safely stored within your Neteller account. You can use it to fund many online brokerage accounts without having to disclose your financial details.

How to use Neteller to fund your brokerage account?

Using Neteller to fund your brokerage account is very simple. First, you have to open an account with Neteller, using an email address and a quick verification process.

Fund your Neteller account with a debit/credit card or transfer money from your bank account. Other options are also available. Check out the fees Neteller charges to deposit money into your Neteller wallet.

Once you have money in your Neteller account, you will be able to fund your brokerage account, instantly and free of charge.

Go to the client area of your brokerage account, choose ‘deposit funds and select Neteller as your payment option.

Deposit interface for Oanda clients

Is depositing instant with Neteller?

Yes. Depositing money to your brokerage account is instant, letting you quickly react to a good trading opportunity.

Withdrawals from your trading account to Neteller

Withdrawals from your brokerage account to your Neteller account take time. Depending on the brokerage, it’s usually one or two business days. Your broker may charge a fee for withdrawals.

Pros and cons of using Neteller

As any other payment method, Neteller has a set of advantages and disadvantages.

Benefits of using Neteller

  • Your bank account and debit/credit card details are safe within your Neteller account.
  • Secure, fast and free money transfers to your trading account allow you to react fast to market movements.
  • Advanced safety features: two-step verification and a safety code for transactions
  • The Neteller mobile app, available in the Apple App Store and on Google Play, helps you fund your trading account and react to fast-moving markets on the go.
  • You can buy and sell 40 different cryptocurrencies and manage your portfolio within your Neteller account.

Disadvantages of using Neteller for online trading

  • Depositing money into your Neteller account carries a fee, even if it’s from your bank account. The cost is usually between 1% and 5% of the transaction value.
  • Other fees: Neteller charges for withdrawing money into a bank account or credit card, and it adds a currency conversion mark-up on top of the European Central Bank exchange rates it uses as benchmark.
  • Neteller is restricted in several countries, for instance it’s not yet available in the United States.
  • Some brokers charge a fee for withdrawals from your brokerage account to your Neteller wallet.

Does Oanda accept Revolut/Wise?

Yes, Revolut and Wise are available at Oanda.

Although Neteller, Revolut and Wise all offer similar services, they do it in different ways and at different costs. You may find that Revolut and Wise are cheaper alternatives, especially when it comes to international and/or multi-currency transactions and also for sending money to or withdrawing money from your electronic wallet.

Check out this short video for a behind-the-scenes peek into how our experts personally test and evaluate brokers.

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Further reading

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

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Adam Nasli
Author of this article
I bring extensive financial expertise as one of BrokerChooser's earliest team members. Personally, I tested nearly all 100+ brokers on our site, opening real-money accounts, executing trades, assessing customer services, and providing firsthand assessment. My professional background includes roles in the banking sector and a degree from Central European University, where I teach finance. My passions lies in in-depth research of the financial industry, building trading algorithms, and managing long-term investments.
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