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2021‌‌Retail‌‌Client‌‌Product‌‌Disclosure‌‌Statement‌ ‌‌Version‌‌9‌ ‌5th‌‌October‌‌2021‌ ‌
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OANDA‌‌Australia‌‌Pty‌‌Ltd‌ ‌ACN‌‌152‌‌088‌‌349;‌‌AFSL‌‌412981‌ ‌Level‌‌1,‌‌60‌‌Martin‌‌Place‌ ‌Sydney‌‌NSW‌‌2000‌ ‌‌‌Section‌‌1:‌‌Important‌‌Information‌ ‌‌‌This‌‌Product‌‌Disclosure‌‌Statement‌ ‌This‌‌Product‌‌Disclosure‌‌Statement‌(‌ PDS)‌‌‌is‌‌dated‌‌5th‌‌October‌‌2021‌‌and‌‌was‌‌prepared‌‌on‌‌that‌‌date‌‌by‌‌
OANDA‌‌Australia‌‌Pty‌‌Ltd‌‌ACN‌‌152‌‌088‌‌349;‌‌AFSL‌‌412981‌(‌ OANDA)‌,‌‌as‌‌the‌‌issuer‌‌of‌‌Over‌‌The‌‌Counter‌‌(OTC)‌‌‌Contracts‌‌For‌‌Difference‌(‌ CFDs)‌‌(‌ OANDA‌‌CFDs)‌‌‌and‌‌margin‌‌foreign‌‌exchange‌‌contracts‌‌(OANDA‌‌FX‌‌Contracts)‌‌‌(collectively,‌‌where‌‌applicable,‌‌these‌‌will‌‌be‌‌referred‌‌to‌‌as‌O‌ ANDA‌‌Products‌)‌‌referred‌‌to‌‌in‌‌this‌‌PDS.‌‌This‌‌PDS‌‌is‌‌designed‌‌to‌‌help‌‌you‌‌decide‌‌whether‌‌the‌‌OANDA‌‌Products‌‌described‌‌in‌‌this‌‌PDS‌‌are‌‌appropriate‌‌for‌‌you.‌‌You‌‌may‌‌also‌‌use‌‌this‌‌PDS‌‌to‌‌compare‌‌this‌‌financial‌‌product‌‌with‌‌similar‌‌financial‌‌products‌‌(e.g.,‌‌over‌‌the‌‌counter‌‌option‌‌contracts)‌‌offered‌‌by‌‌other‌‌issuers.‌‌This‌‌PDS‌‌
describes‌‌the‌‌key‌‌features‌‌of‌‌our‌‌OANDA‌‌Products,‌‌their‌‌benefits,‌‌risks,‌‌the‌‌costs‌‌and‌‌fees‌‌of‌‌trading‌‌in‌them‌‌and‌‌other‌‌related‌‌information.‌‌The‌‌OANDA‌‌Products‌‌are‌‌leveraged‌‌financial‌‌products,‌‌so‌‌you‌‌should‌‌read‌‌this‌‌PDS‌‌and‌‌the‌‌Account‌‌Terms‌‌&‌‌Conditions‌‌in‌‌full‌‌before‌‌making‌‌any‌‌decision‌‌to‌‌invest‌‌in‌‌them.‌‌Some‌‌expressions‌‌used‌‌in‌‌this‌‌PDS‌‌have‌‌definitions‌‌given‌‌in‌‌the‌‌Glossary‌‌at‌‌the‌‌end‌‌of‌‌this‌‌PDS‌‌(see‌‌Section‌‌8).‌ ‌OANDA‌‌Products‌ ‌This‌‌PDS‌‌covers:‌ ‌● OANDA‌‌CFDs‌‌over:‌ ‌○ Indices‌‌(referred‌‌to‌‌as‌‌OANDA‌‌Index‌‌CFDs);‌ ‌○ Commodities‌‌(referred‌‌to‌‌as‌‌OANDA‌‌Commodity‌‌CFDs);‌ ‌○ Treasuries‌‌(referred‌‌to‌‌as‌‌OANDA‌‌Treasury‌‌CFDs);‌ ‌○ Cryptocurrencies‌‌(referred‌‌to‌‌as‌‌OANDA‌‌Cryptocurrency‌‌CFDs)‌ ‌● OANDA‌‌FX‌‌Contracts.‌ ‌The‌‌OANDA‌‌Products‌‌covered‌‌by‌‌this‌‌PDS‌‌are‌‌those‌‌traded‌‌on‌‌the‌‌Electronic‌‌Trading‌‌Platforms,‌‌
FXTrade‌‌and‌‌MT4.‌‌These‌‌OANDA‌‌Products‌‌are‌‌Over‌‌the‌‌Counter‌(‌ OTC)‌‌‌derivative‌‌products‌‌issued‌‌by‌‌
OANDA‌‌and‌‌are‌‌not‌‌Exchange‌‌traded‌‌products.‌ ‌‌‌Your‌‌potential‌‌liability‌ ‌‌‌Potential‌‌investors‌‌should‌‌carefully‌‌consider‌‌the‌‌significant‌‌risks‌‌involved‌‌in‌‌trading‌‌in‌O‌ TC‌d‌ erivatives‌‌and‌‌understand‌‌and‌‌accept‌‌the‌‌risks‌‌of‌‌investing‌‌in‌‌our‌‌OANDA‌‌Products.‌‌Trading‌‌in‌‌our‌‌OANDA‌‌
Products‌‌is‌‌not‌‌suitable‌‌for‌‌all‌‌investors‌‌because‌‌of‌‌the‌‌significant‌‌risks‌‌involved‌‌(see‌‌Section‌‌5‌‌on‌‌“Significant‌‌Risks”).‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

AFSL‌‌412981‌ ‌2‌ ‌‌Your‌‌potential‌‌liability‌‌is‌‌not‌‌limited‌‌to‌‌the‌‌amount‌‌you‌‌pay‌‌OANDA‌‌or‌‌we‌‌keep‌‌in‌‌trust‌‌for‌‌you.‌‌‌We‌‌may‌‌ask‌‌you‌‌to‌‌pay‌‌amounts‌‌more‌‌than‌‌those‌‌amounts‌‌to‌‌cover‌‌any‌‌shortfall.‌‌Your‌‌liability‌‌on‌‌short‌‌
contracts‌‌can‌‌be‌‌unlimited.‌‌You‌‌should‌‌carefully‌‌consider‌‌the‌‌risks‌‌of‌‌our‌‌contracts‌‌and‌‌your‌‌capacity‌‌to‌‌meet‌‌your‌‌liability‌‌before‌‌investing.‌ ‌This‌‌initial‌‌warning‌‌cannot‌‌set‌‌out‌‌and‌‌duplicate‌‌all‌‌the‌‌important‌‌information‌‌in‌‌this‌‌PDS.‌‌‌You‌‌should‌‌read‌‌all‌‌this‌‌PDS‌‌and‌‌the‌‌Account‌‌Terms‌‌&‌‌Conditions‌‌before‌‌deciding‌‌to‌‌invest‌‌in‌‌the‌‌financial‌‌
products‌‌covered‌‌by‌‌this‌‌PDS.‌‌We‌‌recommend‌‌that‌‌you‌‌contact‌‌us‌‌if‌‌you‌‌have‌‌any‌‌questions‌‌arising‌‌from‌‌
this‌‌PDS‌‌or‌‌the‌‌Account‌‌Terms‌‌&‌‌Conditions‌‌prior‌‌to‌‌entering‌‌into‌‌any‌‌transactions‌‌with‌‌us.‌‌OANDA‌‌
recommends‌‌that‌‌you‌‌consult‌‌your‌‌financial‌‌and‌‌investments‌‌advisor‌‌or‌‌obtain‌‌independent‌‌advice‌‌before‌‌trading.‌ ‌OANDA‌‌does‌‌not‌‌give‌‌advice.‌ ‌OANDA‌‌will‌‌not‌‌give‌‌personal‌‌financial‌‌advice‌‌about‌‌the‌‌OANDA‌‌Products.‌‌This‌‌PDS‌‌does‌‌not‌‌constitute‌‌a‌‌recommendation‌‌or‌‌opinion‌‌that‌‌the‌‌OANDA‌‌Products‌‌are‌‌appropriate‌‌for‌‌you.‌‌The‌‌information‌‌in‌‌this‌‌
PDS‌‌is‌‌for‌‌general‌‌information‌‌purposes‌‌only‌‌and‌‌does‌‌not‌‌consider‌‌your‌‌personal‌‌objectives,‌‌financial‌‌
situation‌‌and‌‌needs.‌ ‌The‌‌Target‌‌Market‌‌Determination‌‌(TMD)‌‌-‌‌do‌‌you‌‌meet‌‌the‌‌suitability‌‌criteria‌‌to‌‌trade‌‌OANDA‌‌
Products?‌ ‌The‌‌target‌‌market‌‌for‌‌our‌‌OANDA‌‌Products‌‌include‌‌the‌‌following‌‌class‌‌of‌‌Consumer:‌ ‌a‌‌consumer‌‌who‌‌satisfies‌‌each‌‌of‌‌the‌‌following‌‌criteria:‌ ‌
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This‌‌TMD‌‌is‌‌applicable‌‌to‌‌Retail‌‌Clients‌‌Only‌ ‌The‌‌consumer‌‌is‌‌18‌‌years‌‌or‌‌older;‌ ‌The‌‌consumer‌‌has‌‌had‌‌previous‌‌experience‌‌and/or‌‌has‌‌a‌‌satisfactory‌‌level‌‌of‌‌knowledge‌‌of‌‌trading‌‌in‌‌Contracts‌‌for‌‌Difference‌‌(CFDs)‌‌including‌‌FX‌‌products;‌ ‌The‌‌consumer‌‌has‌‌received‌‌the‌‌most‌‌up‌‌to‌‌date‌‌version‌‌of‌‌OANDA's‌‌disclosure‌‌documents‌‌i.e.‌‌
FSG,‌‌PDS,‌‌Account‌‌Terms,‌‌Risk‌‌Statement;‌ ‌The‌‌consumer‌‌understands‌‌the‌‌terms‌‌and‌‌features‌‌of‌‌the‌‌OANDA‌‌Products‌‌and‌‌how‌‌they‌‌work;‌ ‌The‌‌consumer‌‌is‌‌willing‌‌and‌‌able‌‌to‌‌accept‌‌a‌‌high‌‌degree‌‌of‌‌risk‌‌in‌‌trading‌‌the‌‌OANDA‌‌Products;‌ ‌The‌‌consumer‌‌has‌‌the‌‌financial‌‌resources‌‌to‌‌provide‌‌additional‌‌margin,‌‌especially‌‌on‌‌little‌‌or‌‌no‌‌notice;‌ ‌The‌‌consumer‌‌can‌‌bear‌‌losing‌‌some‌‌if‌‌not‌‌all‌‌of‌‌their‌‌deposited‌‌funds.‌ ‌Those‌‌Consumers‌‌who‌‌satisfy‌‌the‌‌above‌‌criteria‌‌and‌‌wish‌‌to‌‌trade‌‌OANDA‌‌Products‌‌for‌‌investment‌‌
purposes‌‌are‌‌in‌‌OANDA’s‌‌target‌‌market‌‌determination‌‌(TMD).‌ ‌Consumers‌‌for‌‌whom‌‌OANDA‌‌Products‌‌are‌‌unsuitable‌ ‌‌OANDA‌‌Products‌‌are‌‌generally‌‌unsuitable‌‌for‌‌the‌‌following‌‌class‌‌of‌‌consumer:‌ ‌‌● Consumers‌‌below‌‌the‌‌age‌‌of‌‌18‌‌years;‌ ‌● Consumers‌‌who‌‌reside‌‌in‌‌a‌‌country‌‌which‌‌restricts‌‌or‌‌prohibits‌‌trading‌‌in‌‌OANDA‌‌Products;‌ ‌● Consumers‌‌who‌‌do‌‌not‌‌have‌‌the‌‌requisite‌‌knowledge‌‌for‌‌trading‌‌OANDA‌‌Products;‌ ‌● Consumers‌‌who‌‌have‌‌a‌‌low‌‌tolerance‌‌to‌‌risk;‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

AFSL‌‌412981‌ ‌
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Consumers‌‌who‌‌do‌‌not‌‌have‌‌the‌‌ability‌‌and‌‌willingness‌‌to‌‌lose‌‌the‌‌sum‌‌of‌‌their‌‌deposits;‌ ‌Consumers‌‌who‌‌wish‌‌to‌‌trade‌‌using‌‌welfare‌‌benefits‌‌or‌‌pensions‌‌for‌‌trading‌‌purposes.‌ ‌Currency‌‌of‌‌PDS‌ ‌The‌‌information‌‌in‌‌this‌‌PDS‌‌is‌‌up‌‌to‌‌date‌‌at‌‌the‌‌time‌‌it‌‌was‌‌prepared‌‌but‌‌is‌‌subject‌‌to‌‌change‌‌at‌‌any‌‌time.‌‌Any‌‌updates‌‌will‌‌be‌‌posted‌‌on‌‌our‌‌website‌w‌ ww.oanda.com‌.‌‌A‌‌copy‌‌of‌‌this‌‌PDS‌‌can‌‌be‌‌downloaded‌‌from‌‌the‌‌website‌‌or‌‌you‌‌can‌‌call‌‌OANDA‌‌to‌‌request‌‌that‌‌a‌‌paper‌‌copy‌‌be‌‌provided‌‌to‌‌you‌‌free‌‌of‌‌charge.‌‌If‌‌the‌‌new‌‌information‌‌is‌‌information‌‌which‌‌is‌‌materially‌‌adverse‌‌to‌‌you,‌‌we‌‌will‌‌issue‌‌either‌‌a‌‌new‌‌PDS‌‌or‌‌a‌‌supplementary‌‌PDS‌‌containing‌‌the‌‌new‌‌information.‌‌If‌‌the‌‌new‌‌information‌‌is‌‌not‌‌materially‌‌adverse‌‌to‌‌you,‌‌you‌‌will‌‌be‌‌able‌‌to‌‌find‌‌updated‌‌information‌‌on‌‌our‌w‌ ww.oanda.com‌‌‌or‌‌by‌‌calling‌‌us‌‌using‌‌the‌‌contact‌‌details‌‌given‌‌below.‌‌Upon‌‌request,‌‌we‌‌will‌‌send‌‌you‌‌a‌‌paper‌‌copy‌‌of‌‌the‌‌information‌‌free‌‌of‌‌charge.‌ ‌Foreign‌‌Account‌‌Tax‌‌Compliance‌‌Act‌‌(FATCA)‌ ‌The‌‌Foreign‌‌Account‌‌Tax‌‌Compliance‌‌Act‌‌(FATCA)‌‌is‌‌United‌‌States‌‌(US)‌‌legislation‌‌aimed‌‌at‌‌improving‌‌
compliance‌‌with‌‌US‌‌tax‌‌laws.‌ ‌FATCA‌‌imposes‌‌certain‌‌due‌‌diligence‌‌and‌‌reporting‌‌obligations‌‌on‌‌Australian‌‌financial‌‌institutions‌‌(AFIs),‌‌and‌‌those‌‌of‌‌other‌‌non-US‌‌countries,‌‌to‌‌report‌‌US‌‌citizen‌‌or‌‌US‌‌tax-resident‌‌Account‌‌Holders‌‌to‌‌the‌‌US‌‌Internal‌‌Revenue‌‌Service‌‌(IRS).‌‌Failure‌‌to‌‌comply‌‌with‌‌FATCA's‌‌requirements‌‌will‌‌expose‌‌such‌‌Financial‌‌
Institutions‌‌to‌‌a‌‌30‌‌per‌‌cent‌‌US‌‌withholding‌‌tax‌‌on‌‌payments‌‌to‌‌them‌‌from‌‌US‌‌sources.‌ ‌Australia‌‌and‌‌the‌‌US‌‌signed‌‌an‌‌intergovernmental‌‌agreement‌‌to‌‌implement‌‌FATCA‌‌(the‌‌FATCA‌‌
Agreement).‌‌On‌‌16‌‌September‌‌2015,‌‌the‌‌Competent‌‌Authorities‌‌of‌‌Australia‌‌and‌‌the‌‌US‌‌signed‌‌a‌‌Competent‌‌Authority‌‌Arrangement‌‌‌to‌‌help‌‌implement‌‌the‌‌provisions‌‌of‌‌FATCA.‌ ‌Under‌‌the‌‌FATCA‌‌Agreement,‌‌non-exempt‌‌AFIs‌‌need‌‌to‌‌register‌‌with‌‌the‌‌IRS‌‌and‌‌report‌‌to‌‌the‌‌ATO‌‌each‌‌year‌‌about‌‌certain‌‌Financial‌‌Accounts‌‌held‌‌with‌‌them‌‌by‌‌either:‌ ‌●●●US‌‌citizens‌ ‌US‌‌tax‌‌residents‌ ‌specified‌‌US‌‌entities‌‌established‌‌in‌‌the‌‌US‌‌or‌‌controlled‌‌by‌‌US‌‌persons.‌ ‌The‌‌information‌‌reported‌‌by‌‌AFIs‌‌to‌‌the‌‌ATO‌‌is‌‌made‌‌available‌‌to‌‌the‌‌IRS,‌‌in‌‌compliance‌‌with‌‌Australian‌‌privacy‌‌laws,‌‌under‌‌existing‌‌rules‌‌and‌‌safeguards‌‌in‌‌the‌‌Australia-US‌‌Convention‌‌for‌‌the‌‌Avoidance‌‌of‌‌Double‌‌Taxation‌‌and‌‌the‌‌Prevention‌‌of‌‌Fiscal‌‌Evasion‌‌with‌‌respect‌‌to‌‌taxes‌‌on‌‌income.‌ ‌The‌‌FATCA‌‌Agreement‌‌provides‌‌exemption‌‌for‌‌certain‌‌Australian‌‌institutions‌‌(for‌‌example,‌‌superannuation‌‌funds)‌‌and‌‌accounts‌‌from‌‌the‌‌FATCA‌‌requirements,‌‌and‌‌the‌‌removal‌‌of‌‌the‌‌30‌‌per‌‌cent‌‌
withholding‌‌tax‌‌on‌‌AFIs‌‌(unless‌‌there‌‌is‌‌significant‌‌non-compliance‌‌by‌‌an‌‌AFI‌‌with‌‌its‌‌FATCA‌‌Agreement‌‌
obligations).‌ ‌The‌‌FATCA‌‌Agreement‌‌also‌‌improves‌‌existing‌‌reciprocal‌‌tax‌‌information-sharing‌‌arrangements‌‌between‌‌us‌‌and‌‌the‌‌IRS.‌‌This‌‌helps‌‌ensure‌‌Australian‌‌tax‌‌laws‌‌are‌‌effectively‌‌enforced‌‌so‌‌Australian‌‌businesses‌‌and‌‌individuals‌‌who‌‌pay‌‌the‌‌correct‌‌amount‌‌of‌‌tax‌‌are‌‌not‌‌disadvantaged‌‌by‌‌those‌‌who‌‌seek‌‌to‌‌evade‌‌their‌‌tax‌‌obligations.‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

AFSL‌‌412981‌ ‌4‌ ‌‌
Effective‌‌July‌‌1,‌‌2014‌‌OANDA‌‌is‌‌required‌‌to‌‌comply‌‌with‌‌the‌‌U.S.‌‌FATCA‌‌requirements‌‌in‌‌respect‌‌of‌‌accounts‌‌maintained‌‌at‌‌OANDA.‌‌In‌‌this‌‌regard,‌‌OANDA‌‌is‌‌required‌‌to‌‌request‌‌certain‌‌information‌‌from‌‌you‌‌within‌‌ninety‌‌days‌‌of‌‌your‌‌account‌‌being‌‌opened.‌‌Such‌‌information‌‌may‌‌be‌‌requested‌‌in‌‌the‌‌form‌‌of‌‌a‌‌completed‌‌tax‌‌certification‌‌form‌‌signed‌‌under‌‌penalty‌‌of‌‌perjury.‌‌If‌‌you‌‌do‌‌not‌‌provide‌‌this‌‌information‌‌
OANDA‌‌will‌‌be‌‌required‌‌to‌‌report‌‌you‌‌as‌‌a‌‌“recalcitrant‌‌account‌‌holder”‌‌pursuant‌‌to‌‌FATCA‌‌requirements‌‌
to‌‌the‌‌appropriate‌‌governmental‌‌authority.‌‌OANDA‌‌will‌‌take‌‌all‌‌necessary‌‌action‌‌to‌‌be‌‌and‌‌remain‌‌compliant‌‌with‌‌FATCA‌‌as‌‌is‌‌required‌‌by‌‌law‌‌or‌‌agreement‌‌between‌‌governments.‌‌OANDA‌‌will‌‌not‌‌be‌‌liable‌‌for‌‌any‌‌losses,‌‌costs,‌‌expenses,‌‌damages,‌‌liabilities‌‌you‌‌may‌‌suffer‌‌as‌‌a‌‌result‌‌of‌‌complying‌‌with‌‌
FATCA‌‌requirements.‌ ‌Over-the‌‌-counter‌‌Derivatives‌‌Benchmark‌‌Disclosures‌ ‌ASIC‌‌has‌‌introduced‌‌benchmarks‌‌for‌‌over‌‌the‌‌counter‌‌derivatives‌‌which‌‌include‌‌OANDA‌‌CFDs‌‌and‌‌OANDA‌‌FX‌‌Contracts.‌‌It‌‌is‌‌important‌‌to‌‌note‌‌that‌‌the‌‌benchmarks‌‌are‌‌not‌‌mandatory‌‌and‌‌are‌‌not‌‌law.‌‌
ASIC‌‌has‌‌introduced‌‌them‌‌by‌‌way‌‌of‌‌stating‌‌in‌‌Regulatory‌‌Guide‌‌227‌‌ASIC’s‌‌expectations.‌‌Not‌‌meeting‌‌the‌‌benchmarks‌‌is‌‌not‌‌an‌‌indication‌‌of‌‌breaches‌‌or‌‌failures.‌‌Rather,‌‌the‌‌benchmarks‌‌in‌‌RG‌‌227‌‌also‌‌
require‌‌prominent‌‌disclosure‌‌in‌‌a‌‌PDS‌‌as‌‌to‌‌whether‌‌an‌‌issuer‌‌meets‌‌the‌‌benchmarks‌‌or,‌‌if‌‌not,‌‌the‌‌reasons‌‌why‌‌they‌‌are‌‌not‌‌met‌‌are‌‌explained‌‌in‌‌the‌‌PDS.‌‌The‌‌following‌‌table‌‌summarises‌‌the‌‌benchmarks‌‌
as‌‌OANDA‌‌applies‌‌them‌‌to‌‌our‌‌OANDA‌‌CFDs‌‌and‌‌OANDA‌‌FX‌‌Contracts,‌‌and‌‌whether‌‌OANDA‌‌meets‌‌them‌‌and,‌‌if‌‌not,‌‌why‌‌not.‌‌The‌‌table‌‌also‌‌refers‌‌you‌‌to‌‌other‌‌Sections‌‌of‌‌this‌‌PDS‌‌for‌‌more‌‌information‌‌on‌‌relevant‌‌topics‌‌(to‌‌avoid‌‌duplicating‌‌the‌‌information‌‌in‌‌this‌‌PDS).‌ ‌‌‌Meet‌‌
Benchmark?‌ ‌RG227‌‌Benchmark‌‌Disclosures‌ ‌If‌‌not,‌‌why‌‌not‌‌OR‌‌related‌‌Section‌ ‌1.‌‌Client‌‌Qualification‌ ‌Addresses‌‌the‌‌issuer's‌‌policy‌‌on‌‌investors'‌‌qualification‌‌for‌‌OANDA‌‌Products.‌ ‌Yes‌ ‌

Please‌‌refer‌‌to‌‌Section‌‌1,‌‌page‌‌3‌‌-‌‌Target‌‌Market‌‌Determination‌ ‌2.‌‌Opening‌‌Collateral‌ ‌Addresses‌‌the‌‌issuer's‌‌policy‌‌on‌‌the‌‌types‌‌of‌‌assets‌‌accepted‌ ‌from‌‌investors‌‌as‌‌opening‌‌collateral.‌ ‌No‌ ‌Please‌‌refer‌‌to‌‌Section‌‌3,‌‌page‌‌12‌‌-‌‌Funding‌‌Your‌‌Trading‌‌Account.‌ ‌3.‌‌Counterparty‌‌risk‌‌-‌‌Hedging.‌ ‌Addresses‌‌the‌‌issuer's‌‌practices‌‌in‌‌hedging‌‌its‌‌risk‌‌from‌ ‌client‌‌positions‌‌and‌‌the‌‌quality‌‌of‌‌this‌‌hedging.‌ ‌Yes‌ ‌

Please‌‌refer‌‌to‌‌Section‌‌4,‌‌page‌‌22‌‌-‌‌Margin‌‌
Requirements,‌‌Calculations‌ ‌&‌‌Policies‌ ‌4.‌‌Counterparty‌‌risk‌‌-‌‌Financial‌‌resources‌ ‌Addresses‌‌whether‌‌the‌‌issuer‌‌holds‌‌sufficient‌‌liquid‌‌funds‌‌to‌‌withstand‌ ‌significant‌‌adverse‌‌market‌‌movements.‌ ‌Yes‌ ‌

Please‌‌refer‌‌to‌‌Section‌‌4,‌‌page‌‌29‌‌-‌‌Your‌‌Counterparty‌ ‌Risk‌‌on‌‌OANDA.‌ ‌5.‌‌Client‌‌money‌ ‌Addresses‌‌the‌‌issuer's‌‌policy‌‌on‌‌its‌‌use‌‌of‌‌client‌‌money.‌ ‌Yes‌ ‌

Please‌‌refer‌‌to‌‌Section‌‌3,‌‌page‌‌13‌‌-‌‌Client‌‌
Money‌‌Handling‌ ‌6.‌‌Suspended‌‌or‌‌halted‌‌underlying‌‌assets‌ ‌Addresses‌‌the‌‌issuer's‌‌practices‌‌in‌‌relation‌‌to‌‌investor‌‌trading‌‌when‌‌trading‌‌in‌‌the‌‌underlying‌‌asset‌‌is‌‌suspended‌‌or‌‌halted.‌ ‌Yes‌ ‌

Please‌‌refer‌‌to‌‌Section‌‌4,‌‌page‌‌27‌‌-‌‌Dealing‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

AFSL‌‌412981‌ ‌5‌ ‌‌7.‌‌Margin‌‌calls‌ ‌Addresses‌‌the‌‌issuer's‌‌practices‌‌in‌‌the‌‌event‌‌of‌‌client‌ ‌accounts‌‌entering‌‌into‌‌margin‌‌calls.‌ ‌Yes‌ ‌

Please‌‌refer‌‌to‌‌Section‌‌4,‌‌page‌‌22-‌‌Margin‌‌
Requirements,‌‌calculations‌ ‌&‌‌Policies‌ ‌‌Contact‌‌Us‌ ‌OANDA‌‌can‌‌be‌‌contacted‌‌at:‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌ ‌Level‌‌1‌‌60‌‌Martin‌‌Place‌ ‌Sydney‌‌NSW‌‌2000‌ ‌‌Telephone:‌‌13000‌‌OANDA‌‌or‌‌+61‌‌2‌‌8046‌‌6258‌ ‌Email:‌‌oaupromo@oanda.com‌ ‌website‌w‌ ww.oanda.com‌ ‌
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OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

AFSL‌‌412981‌ ‌
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Section‌‌2‌‌–‌‌Key‌‌Information‌ ‌Key‌‌Features‌‌of‌‌our‌‌OANDA‌‌Products‌ ‌
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The‌‌contracts‌‌are‌‌over‌‌the‌‌counter‌‌derivatives‌‌issued‌‌by‌‌OANDA.‌‌They‌‌are‌‌not‌‌Exchange-traded.‌ ‌They‌‌are‌‌for‌‌investing‌‌indirectly‌‌in‌‌a‌‌range‌‌of‌‌foreign‌‌exchange‌‌currencies,‌‌indices,‌‌commodities,‌
metals,‌‌treasuries‌‌and‌‌cryptocurrency‌‌price‌‌movements‌‌around‌‌the‌‌world‌‌without‌‌having‌‌to‌‌own‌‌and‌‌pay‌‌full‌‌value‌‌of‌‌the‌‌Underlying‌‌Security.‌ ‌Your‌‌Account‌‌must‌‌be‌‌funded‌‌before‌‌OANDA‌‌Products‌‌are‌‌issued‌‌to‌‌you.‌‌You‌‌do‌‌this‌‌by‌‌paying‌‌
at‌‌least‌‌the‌‌Initial‌‌Margin‌‌(plus‌‌you‌‌should‌‌consider‌‌funding‌‌the‌‌Account‌‌in‌‌anticipation‌‌of‌‌any‌‌fees‌‌and‌‌charges‌‌detailed‌‌in‌‌Section‌‌3).‌ ‌You‌‌remain‌‌liable‌‌to‌‌pay‌‌later‌‌Variation‌‌Margins‌‌and‌‌to‌‌maintain‌‌the‌‌Margin‌‌Cover.‌‌If‌‌you‌‌do‌‌not‌‌maintain‌‌the‌‌Margin‌‌Cover,‌‌the‌‌OANDA‌‌Products‌‌can‌‌be‌‌Closed‌‌Out.‌‌ ‌Unlike‌‌contracts‌‌traded‌‌on‌‌an‌‌Exchange,‌‌the‌‌OANDA‌‌Products‌‌are‌‌not‌‌standardised.‌‌The‌‌terms‌‌
of‌‌an‌‌OANDA‌‌Product‌‌may,‌‌in‌‌OANDA’s‌‌discretion,‌‌be‌‌individually‌‌tailored‌‌to‌‌the‌‌requirements‌‌of‌‌the‌‌parties‌‌to‌‌the‌‌OANDA‌‌Products‌‌–‌‌you‌‌and‌‌OANDA.‌ ‌You‌‌have‌‌no‌‌right‌‌or‌‌obligation‌‌to‌‌acquire‌‌the‌‌Underlying‌‌Security‌‌itself.‌ ‌There‌‌is‌‌leverage‌‌in‌‌the‌‌OANDA‌‌Products‌‌because‌‌you‌‌pay‌‌to‌‌OANDA‌‌only‌‌Margin,‌‌not‌‌the‌‌full‌‌value.‌‌All‌‌payments‌‌to‌‌OANDA‌‌are‌‌paid‌‌as‌‌Margin‌‌(or‌‌for‌‌the‌‌relevant‌‌fees‌‌and‌‌charges).‌‌The‌‌
more‌‌Margin‌‌you‌‌pay,‌‌the‌‌less‌‌leverage‌‌you‌‌receive.‌ ‌Key‌‌Benefits‌‌of‌‌our‌‌OANDA‌‌Products‌ ‌
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OANDA‌‌Products‌‌enable‌‌you‌‌to‌‌take‌‌a‌‌trading‌‌position‌‌with‌‌an‌‌exposure‌‌to‌‌an‌‌Underlying‌‌
Security‌‌without‌‌needing‌‌to‌‌buy‌‌or‌‌sell‌‌the‌‌actual‌‌full‌‌value‌‌of‌‌the‌‌Underlying‌‌Security.‌ ‌You‌‌can‌‌use‌‌the‌‌OANDA‌‌Products‌‌to‌‌speculate,‌‌with‌‌a‌‌view‌‌to‌‌profiting‌‌from‌‌market‌‌fluctuations‌‌in‌‌the‌‌Underlying‌‌Security.‌‌You‌‌may‌‌take‌‌a‌‌view‌‌of‌‌an‌‌Underlying‌‌Security‌‌and‌‌so‌‌invest‌‌in‌‌the‌‌OANDA‌‌Product‌‌intending‌‌to‌‌make‌‌a‌‌profit.‌ ‌You‌‌can‌‌use‌‌the‌‌OANDA‌‌Products‌‌to‌‌hedge‌‌your‌‌existing‌‌exposure‌‌to‌‌an‌‌Underlying‌‌Security.‌ ‌You‌‌can‌‌deal‌‌in‌‌OANDA‌‌Products‌‌with‌‌a‌‌view‌‌to‌‌profiting‌‌in‌‌both‌‌rising‌‌and‌‌falling‌‌markets.‌ ‌OANDA‌‌Products‌‌involve‌‌a‌‌high‌‌degree‌‌of‌‌leverage.‌‌OANDA‌‌Products‌‌potentially‌‌let‌‌you‌‌invest‌‌a‌‌relatively‌‌small‌‌amount‌‌(in‌‌the‌‌form‌‌of‌‌the‌‌Initial‌‌Margin)‌‌to‌‌have‌‌an‌‌exposure‌‌to‌‌the‌‌Underlying‌‌
Security‌‌without‌‌having‌‌to‌‌pay‌‌the‌‌full‌‌price‌‌of‌‌the‌‌Underlying‌‌Security.‌‌This‌‌leverage‌‌gives‌‌you‌‌the‌‌potential‌‌to‌‌take‌‌a‌‌larger‌‌level‌‌of‌‌risk‌‌for‌‌a‌‌smaller‌‌initial‌‌outlay,‌‌so‌‌this‌‌increases‌‌the‌‌potential‌‌
risks‌‌and‌‌potential‌‌rewards.‌‌Leverage‌‌can‌‌magnify‌‌losses‌‌(see‌‌Section‌‌5‌‌–‌‌Significant‌‌Risks‌‌and‌‌the‌‌paragraph‌‌“Loss‌‌from‌‌Leverage”).‌ ‌Your‌‌moneys‌‌paid‌‌as‌‌Margin‌‌are‌‌kept‌‌in‌‌the‌‌OANDA‌‌Client‌‌Moneys‌‌Trust‌‌Account‌‌until‌‌either‌‌paid‌‌back‌‌to‌‌you‌‌or‌‌paid‌‌to‌‌OANDA‌‌for‌‌fees,‌‌costs‌‌and‌‌charges‌‌(if‌‌applicable)‌‌or‌‌if‌‌your‌‌Account‌‌Value‌‌has‌‌suffered‌‌a‌‌Realised/Unrealised‌‌Loss.‌ ‌If‌‌your‌‌Account‌‌Value‌‌has‌‌benefited‌‌from‌‌a‌‌Realised/Unrealised‌‌Profit,‌‌OANDA‌‌will‌‌pay‌‌money‌‌(or‌‌credit)‌‌equivalent‌‌to‌‌that‌‌amount‌‌of‌‌the‌‌Realised/Unrealised‌‌Profit‌‌into‌‌the‌‌OANDA‌‌Client‌‌Moneys‌‌
Trust‌‌Account‌‌for‌‌your‌‌benefit.‌‌This‌‌means‌‌your‌‌Account‌‌gets‌‌paid‌‌cash‌‌(or‌‌is‌‌credited)‌‌for‌‌gains,‌‌even‌‌before‌‌you‌‌Close‌‌Out‌‌your‌‌contracts.‌ ‌‌Key‌‌Risks‌‌of‌‌OANDA‌‌Products‌ ‌●The‌‌key‌‌risks‌‌of‌‌investing‌‌in‌‌the‌‌OANDA‌‌Products‌‌are‌‌outlined‌‌below.‌‌Please‌‌see‌‌Section‌‌5‌‌for‌‌further‌‌information‌‌on‌‌the‌‌description‌‌of‌‌the‌‌significant‌‌risks.‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

AFSL‌‌412981‌ ‌
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Leverage‌‌‌–‌‌OANDA‌‌Products‌‌are‌‌leveraged‌‌when‌‌the‌‌amount‌‌you‌‌pay‌‌(i.e.,‌‌the‌‌total‌‌Margin‌‌and‌‌fees‌‌and‌‌charges)‌‌to‌‌OANDA‌‌is‌‌less‌‌than‌‌the‌‌full-face‌‌value‌‌of‌‌the‌‌Underlying‌‌Security.‌ ‌Contracts‌‌are‌‌typically‌‌low‌‌margin,‌‌high‌‌leveraged‌‌investment.‌ ‌You‌‌should‌‌be‌‌prepared‌‌for‌‌greater‌‌risks‌‌from‌‌this‌‌kind‌‌of‌‌leveraged‌‌OTC‌‌derivative,‌‌including‌‌
being‌‌liable‌‌to‌‌pay‌‌OANDA‌‌Variation‌‌Margin‌‌and‌‌those‌‌Variation‌‌Margin‌‌requirements‌‌changing‌‌
rapidly‌‌in‌‌response‌‌to‌‌changes‌‌in‌‌the‌‌market‌‌for‌‌the‌‌Underlying‌‌Security.‌ ‌

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Loss‌‌of‌‌your‌‌moneys‌‌‌–‌‌Your‌‌potential‌‌losses‌‌on‌‌(long‌‌or‌‌short)‌‌OANDA‌‌Products‌‌may‌‌exceed‌‌the‌‌amounts‌‌you‌‌pay‌‌(as‌‌Margin)‌‌for‌‌the‌‌contract.‌‌ ‌Unlimited‌‌loss‌‌‌–‌‌In‌‌accordance‌‌with‌‌ASIC‌‌(Product‌‌Intervention‌‌Order‌‌-‌‌Contracts‌‌for‌‌Difference)‌‌
Instrument‌‌Order‌‌2020/986‌‌a‌‌retail‌‌client's‌‌liability‌‌is‌‌limited‌‌to‌‌the‌‌derivative‌‌retail‌‌client‌‌money‌‌held‌‌in‌‌both:‌ ‌i.
A‌‌client‌‌money‌‌account‌‌for‌‌the‌‌benefit‌‌of‌‌the‌‌retail‌‌client;‌‌and‌ ‌ii.
In‌‌relation‌‌to‌‌the‌‌retail‌‌client’s‌‌CFD‌‌trading‌‌account.‌ ‌Trust‌‌moneys‌‌are‌‌withdrawn‌‌to‌‌pay‌‌for‌‌the‌‌OANDA‌‌Products‌‌for‌‌the‌‌Realised/Unrealised‌‌
Loss‌–‌ ‌‌The‌‌money‌‌which‌‌you‌‌pay‌‌into‌‌the‌‌OANDA‌‌Client‌‌Moneys‌‌Trust‌‌Account‌‌will‌‌be‌‌withdrawn‌‌to‌‌pay‌‌OANDA‌‌for‌‌the‌‌OANDA‌‌Products‌‌fees,‌‌costs‌‌and‌‌charges‌‌or‌‌when‌‌there‌‌is‌‌a‌‌Realised/Unrealised‌‌Loss.‌‌The‌‌moneys‌‌are‌‌withdrawn‌‌as‌‌payments‌‌to‌‌OANDA,‌‌so,‌‌once‌‌
withdrawn‌‌they‌‌are‌‌not‌‌held‌‌in‌‌trust‌‌for‌‌you‌‌and‌‌you‌‌lose‌‌the‌‌benefits‌‌of‌‌holding‌‌those‌‌moneys‌‌in‌‌the‌‌OANDA‌‌Client‌‌Moneys‌‌Trust‌‌Account.‌ ‌Margin‌‌requirements‌‌‌–‌‌You‌‌are‌‌liable‌‌to‌‌pay‌‌Margin‌‌before‌‌OANDA‌‌Products‌‌are‌‌issued‌‌and,‌‌after‌‌that,‌‌you‌‌may‌‌be‌‌liable‌‌to‌‌pay‌‌more‌‌Variation‌‌Margin‌‌before‌‌the‌‌position‌‌is‌‌Closed‌‌Out.‌‌The‌‌required‌‌Margin‌‌will‌‌usually‌‌be‌‌at‌‌least:‌‌-‌‌the‌‌Margin‌‌required‌‌by‌‌OANDA‌‌for‌‌the‌‌OANDA‌‌Products‌‌(initially‌‌and‌‌later);‌‌plus‌‌-‌‌the‌‌Variation‌‌Margin‌‌required‌‌by‌‌OANDA‌‌to‌‌cover‌‌any‌‌payments‌‌for‌‌
Unrealised‌‌Losses‌‌on‌‌open‌‌positions‌‌in‌‌your‌‌Account;‌‌plus‌‌-‌‌any‌‌Variation‌‌Margin‌‌required‌‌by‌‌
OANDA‌‌to‌‌cover‌‌adjustments‌‌for‌‌any‌‌foreign‌‌exchange‌‌rate;‌‌plus‌‌-‌‌any‌‌Variation‌‌Margin‌‌required‌‌
before‌‌the‌‌Margin‌‌Closeout‌‌Level‌‌is‌‌triggered‌‌(see‌‌Section‌‌4‌‌–‌‌Margin‌‌Requirements,‌‌
Calculations‌‌&‌‌Policies‌‌for‌‌further‌‌information).‌‌If‌‌you‌‌do‌‌not‌‌meet‌‌all‌‌Margin‌‌requirements,‌‌
including‌‌at‌‌little‌‌or‌‌no‌‌notice,‌‌some‌‌or‌‌all‌‌OANDA‌‌Products‌‌may‌‌be‌‌Closed‌‌Out‌‌without‌‌notice‌‌to‌‌you.‌‌Funding‌‌options‌‌for‌‌accounts‌‌trading‌‌in‌‌cryptocurrency‌‌CFDs‌‌may‌‌be‌‌restricted,‌‌due‌‌to‌‌restrictions‌‌placed‌‌by‌‌payments‌‌providers,‌‌and‌‌this‌‌may‌‌have‌‌implications‌‌for‌‌the‌‌speed‌‌at‌‌which‌you‌‌may‌‌be‌‌able‌‌to‌‌deposit‌‌sufficient‌‌funds‌‌to‌‌meet‌‌OANDA’s‌‌Margin‌‌requirements.‌ ‌Foreign‌‌Exchange‌‌‌–‌‌OANDA‌‌Products‌‌which‌‌are‌‌denominated‌‌in‌‌currencies‌‌other‌‌than‌‌your‌‌default‌‌Account‌‌Currency‌‌can‌‌expose‌‌you‌‌to‌‌fast‌‌and‌‌large‌‌changes‌‌to‌‌the‌‌value‌‌of‌‌your‌‌Account,‌‌
potentially‌‌triggering‌‌the‌‌need‌‌for‌‌more‌‌Variation‌‌Margin‌‌to‌‌be‌‌paid‌‌by‌‌you,‌‌including‌‌at‌‌short‌‌or‌‌no‌‌notice.‌ ‌Counterparty‌‌risk‌‌‌–‌‌you‌‌have‌‌the‌‌risk‌‌that‌‌OANDA‌‌will‌‌not‌‌meet‌‌its‌‌obligations‌‌to‌‌you‌‌under‌‌the‌‌contract.‌‌The‌‌contracts‌‌are‌‌not‌‌Exchange‌‌traded‌‌so‌‌you‌‌need‌‌to‌‌consider‌‌the‌‌credit‌‌and‌‌performance‌‌risk‌‌you‌‌have‌‌on‌‌OANDA.‌‌This‌‌is‌‌further‌‌explained‌‌in‌‌Section‌‌4‌‌under‌‌“Your‌‌Counterparty‌‌Risk‌‌on‌‌OANDA”.‌ ‌Multiple‌‌accounts‌‌‌–‌‌where‌‌you‌‌hold‌‌more‌‌than‌‌one‌‌Account‌‌in‌‌the‌‌same‌‌capacity,‌‌OANDA‌‌
reserves‌‌the‌‌right‌‌to‌‌set‌‌off‌‌amounts‌‌owing‌‌as‌‌between‌‌you‌‌and‌‌OANDA‌‌across‌‌different‌‌
Accounts,‌‌to‌‌apply‌‌cash‌‌balances‌‌in‌‌respect‌‌of‌‌one‌‌Account‌‌to‌‌meet‌‌obligations‌‌you‌‌owe‌‌to‌‌
OANDA‌‌in‌‌respect‌‌of‌‌another‌‌Account,‌‌or‌‌take‌‌steps‌‌to‌‌Close‌‌Out‌‌any‌‌Position‌‌you‌‌hold‌‌in‌‌any‌‌one‌‌of‌‌your‌‌Accounts‌‌to‌‌fulfil‌‌any‌‌obligation‌‌you‌‌have‌‌to‌‌us‌‌(including‌‌being‌‌able‌‌to‌‌Close‌‌Out‌‌a‌‌Position‌‌you‌‌hold‌‌in‌‌one‌‌Account‌‌in‌‌order‌‌to‌‌meet‌‌a‌‌Margin‌‌requirement‌‌or‌‌any‌‌other‌‌obligation‌‌you‌‌may‌‌have‌‌in‌‌relation‌‌to‌‌another‌‌Account).‌‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

AFSL‌‌412981‌ ‌8‌ ‌‌Nature‌‌of‌‌OANDA‌‌Products‌ ‌OANDA‌‌Products‌‌are‌‌leveraged‌‌over‌‌the‌‌counter‌‌financial‌‌products‌‌which‌‌allow‌‌you‌‌to‌‌make‌‌a‌‌profit‌‌or‌‌loss‌‌from‌‌changes‌‌in‌‌the‌‌market‌‌price‌‌of‌‌the‌‌Underlying‌‌Security,‌‌without‌‌owning‌‌the‌‌full‌‌value‌‌of‌‌the‌‌Underlying‌‌Security‌‌or‌‌having‌‌any‌‌direct‌‌interest‌‌in‌‌the‌‌Underlying‌‌Security.‌ ‌In‌‌simple‌‌terms,‌‌the‌‌amount‌‌of‌‌any‌‌profit‌‌or‌‌loss‌‌made‌‌on‌‌the‌‌OANDA‌‌Products‌‌will‌‌be‌‌equal‌‌to‌‌the‌‌difference‌‌between‌‌the‌‌price‌‌of‌‌the‌‌contract‌‌with‌‌reference‌‌to‌‌the‌‌Underlying‌‌Security‌‌when‌‌the‌‌OANDA‌‌
Product‌‌is‌‌opened‌‌and‌‌the‌‌price‌‌of‌‌the‌‌OANDA‌‌Product‌‌with‌‌reference‌‌to‌‌an‌‌Underlying‌‌Security‌‌when‌‌the‌‌OANDA‌‌Product‌‌is‌‌closed,‌‌multiplied‌‌by‌‌the‌‌number‌‌of‌‌units‌‌or‌‌lots‌‌(for‌‌more‌‌information,‌‌see‌‌Section‌‌
4‌‌OANDA‌‌Trading‌‌Platforms)‌‌held.‌ ‌The‌‌calculation‌‌of‌‌profit‌‌or‌‌loss‌‌is‌‌also‌‌affected‌‌by‌‌other‌‌payments,‌‌including‌‌payments‌‌relating‌‌to‌‌Finance‌‌
Charges‌‌and‌‌any‌‌other‌‌charges‌‌(for‌‌more‌‌information,‌‌see‌‌Section‌‌3‌‌Costs,‌‌Commissions,‌‌Fees‌‌&‌‌
Charges).‌ ‌The‌‌value‌‌can‌‌also‌‌be‌‌affected‌‌by‌‌fluctuations‌‌in‌‌foreign‌‌exchange‌‌rates‌‌if‌‌you‌‌affect‌‌a‌‌Transaction‌‌
denominated‌‌in‌‌a‌‌currency‌‌that‌‌differs‌‌from‌‌your‌‌default‌‌Account‌‌Currency.‌ ‌You‌‌can‌‌take‌‌both‌‌“long”‌‌and‌‌“short”‌‌positions.‌‌If‌‌you‌‌take‌‌a‌‌long‌‌position,‌‌you‌‌profit‌‌from‌‌a‌‌rise‌‌in‌‌the‌Underlying‌‌Security,‌‌and‌‌you‌‌lose‌‌if‌‌the‌‌price‌‌of‌‌the‌‌Underlying‌‌Security‌‌falls.‌‌Conversely,‌‌if‌‌you‌‌take‌‌a‌‌short‌‌position,‌‌you‌‌profit‌‌from‌‌a‌‌fall‌‌in‌‌the‌‌price‌‌of‌‌the‌‌Underlying‌‌Security‌‌and‌‌lose‌‌if‌‌the‌‌underlying‌‌price‌‌
rises.‌ ‌Unlike‌‌direct‌‌investments‌‌made‌‌by‌‌trading‌‌on‌‌an‌‌Exchange,‌‌the‌‌OANDA‌‌Products‌‌are‌‌not‌‌standardised.‌‌
The‌‌terms‌‌of‌‌the‌‌OANDA‌‌Products‌‌are‌‌based‌‌on‌‌the‌‌Account‌‌Terms‌‌&‌‌Conditions‌‌with‌‌OANDA,‌‌which‌‌apply‌‌to‌‌your‌‌Account‌‌and‌‌your‌‌Transactions.‌ ‌Types‌‌of‌‌OANDA‌‌Products‌ ‌OANDA‌‌Index‌‌CFDs‌ ‌OANDA‌‌Index‌‌CFDs‌‌derive‌‌their‌‌price‌‌or‌‌value‌‌from‌‌the‌‌real‌‌time‌‌changes‌‌in‌‌the‌‌value‌‌of‌‌an‌‌Underlying‌‌
Index‌‌as‌‌calculated‌‌by‌‌the‌‌relevant‌‌Exchange‌‌or‌‌OANDA’s‌‌valuation‌‌of‌‌that‌‌Underlying‌‌Index.‌ ‌OANDA‌‌Index‌‌CFDs‌‌can‌‌only‌‌be‌‌traded‌‌during‌‌the‌‌open‌‌market‌‌hours‌‌of‌‌the‌‌relevant‌‌Exchange‌‌on‌‌which‌‌the‌‌Underlying‌‌Index‌‌is‌‌determined‌‌(or‌‌within‌‌any‌‌more‌‌limited‌‌hours‌‌set‌‌from‌‌time‌‌to‌‌time‌‌by‌‌OANDA).‌‌
Open‌‌hours‌‌of‌‌the‌‌relevant‌‌Exchanges‌‌are‌‌available‌‌by‌‌viewing‌‌the‌‌relevant‌‌Exchange‌‌website.‌ ‌OANDA‌‌Index‌‌CFDs‌‌allow‌‌you‌‌to‌‌deal‌‌in‌‌anticipated‌‌market‌‌trends‌‌rather‌‌than‌‌individual‌‌shares.‌ ‌OANDA‌‌Index‌‌CFDs‌‌are‌‌valued‌‌based‌‌on‌‌the‌‌number‌‌of‌‌units‌‌per‌‌index‌‌point‌‌of‌‌the‌‌Underlying‌‌Index.‌‌For‌‌
example,‌‌if‌‌the‌‌Underlying‌‌AUS200‌‌Index‌‌is‌‌6071‌‌then‌‌trading‌‌10‌‌Unit‌‌OANDA‌‌Index‌‌CFDs‌‌for‌‌that‌‌
Underlying‌‌AUS200‌‌Index‌‌would‌‌mean‌‌the‌‌face‌‌value‌‌of‌‌the‌‌trade‌‌was‌‌$60,710.‌ ‌‌OANDA‌‌Commodity‌‌CFDs‌ ‌OANDA‌‌Commodity‌‌CFDs’‌‌Underlying‌‌Security‌‌is‌‌the‌‌value‌‌or‌‌price‌‌of‌‌a‌‌Commodity‌‌Transaction.‌‌OANDA‌‌
Commodity‌‌CFDs‌‌may‌‌be‌‌denominated‌‌in‌‌any‌‌of‌‌the‌‌available‌‌currencies.‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

AFSL‌‌412981‌ ‌9‌ ‌‌
OANDA‌‌Commodity‌‌CFDs‌‌are‌‌an‌‌easy‌‌way‌‌to‌‌gain‌‌access‌‌indirectly‌‌to‌‌commodity‌‌markets‌‌and‌‌
underlying‌‌commodities‌‌such‌‌as‌‌Platinum,‌‌Palladium,‌‌Copper,‌‌Wheat,‌‌Sugar,‌‌Soybeans,‌‌Corn,‌‌Natural‌‌Gas,‌‌Brent‌‌Crude‌‌Oil‌‌and‌‌West‌‌Texas‌‌Oil.‌ ‌OANDA‌‌Commodity‌‌CFDs‌‌can‌‌only‌‌be‌‌traded‌‌during‌‌the‌‌open‌‌market‌‌hours‌‌of‌‌the‌‌relevant‌‌Exchange‌‌on‌‌which‌‌the‌‌Commodity‌‌Transaction‌‌is‌‌able‌‌to‌‌be‌‌traded‌‌(or‌‌within‌‌any‌‌more‌‌limited‌‌hours‌‌set‌‌from‌‌time‌‌to‌‌time‌‌by‌‌OANDA).‌‌Open‌‌hours‌‌of‌‌the‌‌relevant‌‌Exchanges‌‌are‌‌available‌‌by‌‌viewing‌‌the‌‌relevant‌‌Exchange‌‌
website.‌ ‌OANDA‌‌Treasury‌‌CFDs‌ ‌OANDA‌‌Treasury‌‌CFDs’‌‌Underlying‌‌Securities‌‌are‌‌US‌‌treasury‌‌notes‌‌and‌‌bonds,‌‌Euro-bund‌‌futures‌‌and‌‌gilt‌‌futures.‌ ‌Euro-bund‌‌futures‌‌are‌‌a‌‌notional‌‌long-term‌‌debt‌‌instrument‌‌issued‌‌by‌‌the‌‌German‌‌Federal‌‌Government‌‌
with‌‌a‌‌term‌‌of‌‌8‌‌to‌‌10‌‌years.‌ ‌Long‌‌gilt‌‌futures‌‌contracts‌‌are‌‌based‌‌on‌‌a‌‌£100,000‌‌nominal‌‌value‌‌notional‌‌United‌‌Kingdom‌‌Government‌‌
bond.‌‌They‌‌allow‌‌investors‌‌to‌‌gain‌‌access‌‌to‌‌the‌‌benchmark‌‌10‌‌year‌‌segment‌‌of‌‌the‌‌UK‌‌sovereign‌‌yield‌‌
curve.‌ ‌The‌‌OANDA‌‌Treasury‌‌CFDs’‌‌Underlying‌‌Securities‌‌currently‌‌include:‌ ‌
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two-year‌‌US‌‌treasury‌‌notes;‌ ‌five-year‌‌US‌‌treasury‌‌notes;‌ ‌ten-year‌‌US‌‌treasury‌‌notes;‌ ‌US‌‌treasury‌‌bonds;‌ ‌Euro-bund‌‌futures;‌‌and‌ ‌Long‌‌gilt‌‌futures.‌ ‌OANDA‌‌Treasury‌‌CFDs‌‌can‌‌only‌‌be‌‌traded‌‌during‌‌the‌‌open‌‌market‌‌hours‌‌of‌‌the‌‌relevant‌‌Exchange‌‌on‌‌which‌‌the‌‌Underlying‌‌Security‌‌is‌‌traded‌‌or‌‌other‌‌market‌‌(which‌‌is‌‌not‌‌an‌‌Exchange)‌‌is‌‌open‌‌(or‌‌within‌‌any‌‌more‌‌limited‌‌hours‌‌set‌‌from‌‌time‌‌to‌‌time‌‌by‌‌OANDA).‌‌Open‌‌hours‌‌of‌‌the‌‌relevant‌‌Exchange‌‌are‌‌available‌‌by‌‌reviewing‌‌the‌‌relevant‌‌Exchange‌‌website.‌ ‌OANDA‌‌Cryptocurrency‌‌CFDs‌ ‌The‌‌OANDA‌‌Cryptocurrency‌‌CFD‌‌derives‌‌its‌‌price‌‌or‌‌value‌‌from‌‌the‌‌real‌‌time‌‌changes‌‌in‌‌the‌‌value‌‌of‌‌an‌‌
Underlying‌‌Cryptocurrency‌‌as‌‌calculated‌‌by‌‌OANDA.‌‌OANDA‌‌establishes‌‌the‌‌prices‌‌at‌‌which‌‌it‌‌offers‌‌to‌‌trade‌ ‌with‌ ‌you‌ ‌based‌ ‌on‌ ‌prices‌ ‌that‌ ‌are‌‌made‌‌or‌‌quoted‌‌to‌‌OANDA‌‌by‌‌the‌‌banks,‌‌financial‌‌institutions,‌‌
exchanges‌ ‌and‌ ‌counterparties‌ ‌with‌ ‌which‌ ‌it‌ ‌does‌ ‌business‌ ‌and‌ ‌which‌ ‌may‌ ‌not‌ ‌be‌ ‌the‌ ‌same‌ ‌as‌‌prices‌‌
available‌ ‌from‌ ‌other‌ ‌sources‌ ‌and‌ ‌in‌ ‌fact‌ ‌may‌ ‌differ‌ ‌significantly‌ ‌from‌ ‌the‌ ‌price‌ ‌of‌ ‌the‌ ‌Underlying‌‌
Cryptocurrency.‌ ‌With‌‌respect‌‌to‌‌the‌‌OANDA‌‌Cryptocurrency‌‌CFD,‌‌pricing‌‌may‌‌freeze,‌‌and‌‌trading‌‌may‌‌halt‌‌(i.e.‌‌the‌‌ability‌‌to‌ ‌open‌ ‌or‌ ‌close‌ ‌a‌ ‌position‌ ‌may‌ ‌be‌ ‌suspended)‌ ‌at‌ ‌OANDA’s‌ ‌discretion,‌ ‌for‌ ‌any‌ ‌reason,‌ ‌at‌ ‌any‌ ‌time,‌‌including‌‌if‌‌there‌‌is‌‌no‌‌pricing‌‌data‌‌available‌‌in‌‌respect‌‌of‌‌the‌‌Underlying‌‌Cryptocurrency.‌ ‌‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

AFSL‌‌412981‌ ‌
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OANDA‌‌FX‌‌Contracts‌ ‌OANDA‌‌FX‌‌Contracts‌‌are‌‌leveraged‌‌products‌‌which‌‌derive‌‌their‌‌prices‌‌from‌‌the‌‌real‌‌time‌‌changes‌‌in‌‌the‌‌price‌‌of‌‌foreign‌‌currencies.‌ ‌Prices‌‌are‌‌only‌‌quoted‌‌for‌‌OANDA‌‌FX‌‌Contracts‌‌and‌‌can‌‌only‌‌be‌‌traded‌‌during‌‌the‌‌open‌‌market‌‌hours‌‌on‌‌which‌‌the‌‌foreign‌‌currency‌‌is‌‌traded.‌ ‌Open‌‌hours‌‌of‌‌the‌‌market‌‌are‌‌available‌‌by‌‌viewing‌‌the‌‌relevant‌‌market’s‌‌website.‌‌In‌‌addition,‌‌OANDA‌‌
may‌‌not‌‌quote‌‌for‌‌a‌‌contract‌‌on‌‌a‌‌particular‌‌foreign‌‌currency‌‌if‌‌that‌‌foreign‌‌currency‌‌is‌‌illiquid‌‌(for‌‌more‌‌
information‌‌on‌‌potential‌‌external‌‌disruptions‌‌see‌‌Section‌‌4).‌ ‌OANDA‌‌FX‌‌Contracts‌‌allow‌‌you‌‌to‌‌receive‌‌many‌‌of‌‌the‌‌economic‌‌benefits‌‌of‌‌owning‌‌the‌‌full‌‌value‌‌of‌‌the‌‌foreign‌‌exchange‌‌contract‌‌on‌‌which‌‌the‌‌OANDA‌‌FX‌‌Contract‌‌is‌‌based‌‌without‌‌physically‌‌owning‌‌it.‌‌This‌‌includes‌‌contracts‌‌in‌‌the‌‌spot‌‌price‌‌for‌‌Gold‌‌or‌‌Silver‌‌which‌‌are‌‌the‌‌Underlying‌‌Securities.‌‌For‌‌more‌‌
information‌‌on‌‌which‌‌OANDA‌‌provides‌‌quotes‌‌on,‌‌please‌‌download‌‌a‌‌demonstration‌‌trading‌‌platform‌‌
located‌‌on‌‌the‌‌OANDA‌‌website‌‌w‌ ww.oanda.com‌‌‌or‌‌contact‌‌OANDA.‌ ‌OANDA‌‌FX‌‌Contracts‌‌are‌‌valued‌‌based‌‌on‌‌the‌‌price‌‌of‌‌the‌‌relevant‌‌foreign‌‌currency‌‌pair.‌‌For‌‌example,‌‌in‌‌the‌‌case‌‌of‌‌OANDA‌‌FX‌‌Contracts,‌‌if‌‌you‌‌bought‌‌10,000‌‌of‌‌one‌‌currency‌‌against‌‌another‌‌and‌‌the‌‌price‌‌of‌‌the‌‌foreign‌‌currency‌‌pair‌‌was‌‌quoted‌‌as‌‌10.40/10.60‌‌then‌‌the‌‌OANDA‌‌FX‌‌Contract‌‌would‌‌have‌‌a‌‌value‌‌of‌‌$106,000‌‌(being‌‌10.60‌‌x‌‌10,000).‌ ‌
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OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

AFSL‌‌412981‌ ‌
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‌

Section‌‌3‌‌–‌‌Being‌‌an‌‌OANDA‌‌Customer‌ ‌Opening‌‌a‌‌trading‌‌account‌‌with‌‌OANDA.‌ ‌To‌‌become‌‌a‌‌customer‌‌of‌‌OANDA‌‌you‌‌will‌‌need‌‌to‌‌complete‌‌the‌‌online‌‌account‌‌opening‌‌at‌‌https://www.oanda.com/register/#/sign-up‌.‌ ‌ ‌In‌‌the‌‌initial‌‌stage‌‌(Page‌‌1)‌‌of‌‌the‌‌account‌‌application‌‌you‌‌will‌‌be‌‌asked‌‌to‌‌create‌‌a‌‌login‌‌profile.‌‌Please‌‌keep‌‌this‌‌login‌‌profile‌‌as‌‌it‌‌is‌‌your‌‌primary‌‌login‌‌for‌‌completing‌‌the‌‌application‌‌as‌‌well‌‌as‌‌the‌‌trading‌‌platform‌‌once‌‌your‌‌account‌‌is‌‌established.‌ ‌It‌‌is‌‌recommended‌‌that‌‌you‌‌are‌‌prepared‌‌for‌‌the‌‌account‌‌opening‌‌process‌‌with‌‌appropriate‌‌identification‌‌
documents.‌ ‌To‌‌confirm‌‌your‌‌identity‌‌and‌‌address‌‌you‌‌may‌‌use‌‌a‌‌combination‌‌of‌‌the‌‌following‌‌documents:‌ ‌● Australian‌‌Tax‌‌File‌‌Number‌‌(TFN)‌ ‌● Passport‌ ‌● Drivers‌‌Licence‌ ‌● Vehicle‌‌Registration‌ ‌● Utilities‌‌Bill‌ ‌● Bank‌‌Statements‌ ‌● Council‌‌Rates‌ ‌● Tenancy‌‌Agreement‌ ‌● Seniors‌‌Card‌ ‌If‌‌you‌‌are‌‌opening‌‌a‌‌trading‌‌account‌‌under‌‌a‌‌corporate‌‌structure‌‌you‌‌will‌‌need‌‌to‌‌complete‌‌the‌‌online‌‌account‌‌opening‌‌at‌‌h‌ ttps://oanda.eappform.com/initiate.aspx‌.‌ ‌You‌‌should‌‌be‌‌prepared‌‌to‌‌support‌‌your‌‌corporate‌‌application‌‌with‌‌further‌‌documentation‌‌such‌‌as:‌ ‌Certificate‌‌of‌‌Registration‌‌of‌‌a‌‌Company‌ ‌● ASIC‌‌Company‌‌Extract‌ ‌● Company‌‌Proof‌‌of‌‌Address‌‌showing‌‌Principle‌‌Place‌‌of‌‌Business‌ ‌● Memorandum‌‌or‌‌Articles‌‌of‌‌Association‌ ‌● Power‌‌of‌‌Attorney‌ ‌● Trust‌‌Deed‌ ‌● Trust‌‌or‌‌Company‌‌Bank‌‌Account‌‌Statement‌ ‌● Legal‌‌Entity‌‌Identifier‌‌(LEI)‌‌‌
Once‌‌OANDA‌‌accepts‌‌your‌‌application‌‌including‌‌supporting‌‌documentation,‌‌your‌‌account‌‌will‌‌be‌‌established‌‌and‌‌you‌‌will‌‌have‌‌agreed‌‌to‌‌the‌‌account‌‌terms‌‌as‌‌set‌‌down‌‌by‌‌OANDA‌‌at‌‌https://www1.oanda.com/resources/legal/australia/‌ ‌Funding‌‌Your‌‌Trading‌‌Account.‌ ‌The‌‌initial‌‌funding‌‌of‌‌your‌‌OANDA‌‌trading‌‌account‌‌is‌‌possible‌‌either‌‌as‌‌part‌‌of‌‌the‌‌online‌‌account‌‌application‌‌process‌‌(Credit‌‌Card‌‌Only)‌‌or‌‌via‌‌the‌‌FX‌‌Trade‌‌Platform‌‌once‌‌your‌‌account‌‌has‌‌been‌‌established.‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

AFSL‌‌412981‌ ‌
12‌ ‌

‌
OANDA‌‌offers‌‌4‌‌methods‌‌of‌‌funding‌‌your‌‌OANDA‌‌trading‌‌account:‌ ‌● PayID‌ ‌● Bank‌‌Transfer‌ ‌● B-Pay‌ ‌● Credit‌‌Card‌
Please‌‌be‌‌reminded‌‌that‌‌funding‌‌your‌‌Account‌‌by‌‌credit‌‌card‌‌has‌‌additional‌‌risks‌‌and‌‌costs‌‌for‌‌you.‌‌‌By‌‌using‌‌these‌‌payment‌‌methods,‌‌you‌‌effectively‌‌would‌‌be‌‌doubling‌‌your‌‌leverage‌‌by‌‌taking‌‌credit‌‌from‌‌your‌‌credit‌‌card‌‌account‌‌and‌‌trading‌‌with‌‌leverage‌‌on‌‌your‌‌Account.‌‌This‌‌can‌‌add‌‌to‌‌the‌‌risks‌‌and‌‌volatility‌‌of‌‌your‌‌positions‌‌as‌‌well‌‌as‌‌potentially‌‌higher‌‌interest‌‌costs‌‌on‌‌your‌‌credit‌‌card‌‌account.‌ ‌If‌‌you‌‌lose‌‌on‌‌your‌‌investments,‌‌you‌‌might‌‌not‌‌have‌‌other‌‌financial‌‌resources‌‌to‌‌repay‌‌your‌‌credit‌‌card‌‌
account,‌‌incurring‌‌higher‌‌interest‌‌costs‌‌and‌‌possibly‌‌defaulting‌‌on‌‌your‌‌credit‌‌card‌‌terms.‌ ‌Although‌‌OANDA‌‌accepts‌‌payments‌‌of‌‌more‌‌than‌‌$1,000‌‌from‌‌credit‌‌card‌‌accounts‌‌to‌‌fund‌‌your‌‌Account‌‌and‌‌to‌‌meet‌‌later‌‌Margin‌‌payments,‌‌please‌‌consider‌‌carefully‌‌whether‌‌this‌‌payment‌‌method‌‌is‌‌suitable‌‌for‌‌your‌‌trading‌‌and‌‌limit‌‌it‌‌to‌‌what‌‌you‌‌can‌‌afford.‌ ‌P‌ lease‌‌note‌‌that‌‌OANDA‌‌does‌‌not‌‌accept‌‌funds‌‌from‌‌third-party‌‌accounts‌‌i.e.‌‌funds‌‌from‌‌
accounts‌‌that‌‌are‌‌not‌‌held‌‌in‌‌your‌‌name.‌ ‌Client‌‌Money‌‌Handling.‌ ‌Funds‌‌deposited‌‌by‌‌you‌‌the‌‌customer‌‌to‌‌OANDA‌‌are‌‌credited‌‌to‌‌a‌‌trust‌‌account‌‌administered‌‌by‌‌OANDA‌‌
which‌‌is‌‌referred‌‌to‌‌in‌‌this‌‌PDS‌‌as‌‌the‌“‌ OANDA‌‌Client‌‌Money‌‌Trust‌‌Account”.‌ ‌The‌‌funds‌‌deposited‌‌by[[‌‌you‌‌the‌‌customer‌‌into‌‌the‌‌OANDA‌‌Client‌‌Money‌‌Trust‌‌Account‌‌are‌‌held‌‌for‌‌you‌‌and‌‌are‌‌segregated‌‌from‌‌OANDA’s‌‌own‌‌funds.‌‌This‌‌means‌‌those‌‌funds‌‌are‌‌not‌‌available‌‌to‌‌pay‌‌general‌‌creditors‌‌in‌‌the‌‌event‌‌of‌‌receivership‌‌or‌‌liquidation‌‌of‌‌OANDA‌‌(unless‌‌a‌‌court‌‌orders‌‌differently).‌ ‌Summary‌‌of‌‌amendments‌‌made‌‌in‌‌Schedule‌‌5‌‌of‌‌the‌T‌ reasury‌‌Laws‌‌Amendment‌‌(2016‌‌Measures‌‌No.‌‌1)‌‌Act‌‌2017‌ ‌Schedule‌‌5‌‌to‌‌the‌T‌ reasury‌‌Laws‌‌Amendment‌‌(2016‌‌Measures‌‌No.‌‌1)‌‌Act‌‌2017‌‌‌(Client‌‌Money‌‌Act)‌‌makes‌‌amendments‌‌to‌‌the‌C‌ orporations‌‌Act‌‌2001‌‌‌(Corporations‌‌Act)‌‌to‌‌provide‌‌that‌‌Australian‌‌financial‌‌services‌‌licensees‌‌(AFS‌‌licensees)‌‌may‌‌only‌‌use‌‌derivative‌‌retail‌‌client‌‌money‌‌or‌‌property‌‌to‌‌meet‌‌an‌‌obligation‌‌where:‌ ‌●●the‌‌entry‌‌into‌‌the‌‌derivative‌‌is‌‌cleared‌‌through‌ ‌○ a‌‌licensed‌‌clearing‌‌and‌‌settlement‌‌facility;‌‌or‌ ‌○ a‌‌clearing‌‌and‌‌settlement‌‌facility,‌‌the‌‌operator‌‌of‌‌which‌‌is‌‌authorised‌‌to‌‌operate‌‌the‌‌facility‌‌
in‌‌a‌‌foreign‌‌country‌‌in‌‌which‌‌the‌‌operator’s‌‌principal‌‌place‌‌of‌‌business‌‌is‌‌located,‌‌and‌‌that‌‌meets‌‌any‌‌requirements‌‌specified‌‌in‌‌regulations;‌‌and‌ ‌the‌‌AFS‌‌licensee‌‌incurred‌‌the‌‌obligation,‌‌in‌‌connection‌‌with‌‌the‌‌derivative,‌‌under‌‌the‌‌operating‌‌
rules‌‌of‌‌the‌‌clearing‌‌and‌‌settlement‌‌facility.‌ ‌‌‌‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

AFSL‌‌412981‌ ‌
13‌ ‌

‌
Definition‌‌of‌‌derivative‌‌retail‌‌client‌‌money‌ ‌Schedule‌‌5‌‌to‌‌the‌‌Client‌‌Money‌‌Act‌‌inserts‌‌a‌‌new‌‌definition‌‌of‌‌‘derivative‌‌retail‌‌client‌‌money’‌‌into‌‌section‌‌
761A‌‌of‌‌the‌‌Corporations‌‌Act.‌ ‌‘Derivative‌‌retail‌‌client‌‌money’‌‌is‌‌money‌‌paid‌‌to‌‌a‌‌financial‌‌services‌‌licensee‌‌by‌‌or‌‌on‌‌behalf‌‌of‌‌a‌‌client‌‌in‌‌connection‌‌with:‌ ‌●●●a‌‌financial‌‌service‌‌that:‌ ‌○ has‌‌been,‌‌will‌‌or‌‌may‌‌be‌‌provided‌‌to‌‌the‌‌client;‌‌and‌ ‌○ is‌‌or‌‌relates‌‌to‌‌a‌‌dealing‌‌in‌‌a‌‌derivative;‌‌or‌ ‌a‌‌financial‌‌product‌‌that‌‌is‌‌a‌‌derivative;‌‌and‌ ‌the‌‌financial‌‌service‌‌or‌‌product‌‌would‌‌be‌‌provided‌‌to‌‌the‌‌client‌‌as‌‌a‌‌retail‌‌client‌‌if‌‌the‌‌service‌‌or‌‌product‌‌were‌‌provided‌‌to‌‌the‌‌client‌‌when‌‌the‌‌money‌‌was‌‌paid.‌ ‌For‌‌the‌‌purposes‌‌of‌‌the‌‌definition‌‌of‌‌‘derivative‌‌retail‌‌client‌‌money’,‌‌Schedule‌‌5‌‌provides‌‌that‌‌‘retail‌‌client’‌‌
includes‌‌clients‌‌who‌‌are‌‌sophisticated‌‌retail‌‌investors‌‌as‌‌set‌‌out‌‌in‌‌section‌‌761GA.‌‌This‌‌ensures‌‌that‌‌the‌‌sophisticated‌‌investor‌‌carve-out‌‌contained‌‌in‌‌section‌‌761GA‌‌cannot‌‌be‌‌exploited‌‌to‌‌circumvent‌‌the‌‌amendments‌‌in‌‌the‌‌Client‌‌Money‌‌Act‌‌and‌‌the‌C‌ orporations‌‌Amendment‌‌(Client‌‌Money)‌‌Regulations‌‌2017‌.‌‌
While‌‌sophisticated‌‌investors‌‌are‌‌generally‌‌high‌‌net‌‌worth‌‌individuals,‌‌like‌‌other‌‌retail‌‌clients,‌‌they‌‌may‌‌not‌‌always‌‌have‌‌the‌‌requisite‌‌knowledge‌‌of‌‌complex‌‌financial‌‌services‌‌such‌‌as‌‌derivatives‌‌to‌‌adequately‌‌
evaluate‌‌the‌‌risks‌‌associated‌‌with‌‌how‌‌licensees‌‌use‌‌derivative‌‌retail‌‌client‌‌money.‌ ‌You‌‌should‌‌be‌‌aware‌‌that,‌‌generally,‌‌for‌‌trust‌‌accounts‌‌such‌‌as‌‌the‌‌OANDA‌‌Client‌‌Moneys‌‌Trust‌‌
Account:‌ ‌
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Individual‌‌Clients‌‌do‌‌not‌‌have‌‌separate‌‌or‌‌segregated‌‌accounts.‌ ‌All‌‌Clients’‌‌moneys‌‌are‌‌combined‌‌into‌‌one‌‌account.‌ ‌OANDA‌‌uses‌‌funds‌‌from‌‌its‌‌own‌‌operating‌‌account‌‌for‌‌all‌‌its‌‌hedging‌‌purposes.‌ ‌OANDA‌‌is‌‌entitled‌‌to‌‌retain‌‌all‌‌interest‌‌earned‌‌on‌‌the‌‌money‌‌held‌‌in‌‌the‌‌OANDA‌‌Client‌‌Money‌‌
Trust‌‌Account.‌ ‌When‌‌you‌‌the‌‌customer‌‌deposit‌‌funds‌‌into‌‌the‌‌OANDA‌‌Client‌‌Money‌‌Trust‌‌Account‌‌(for‌‌any‌‌
currency)‌‌for‌‌your‌‌use‌‌within‌‌your‌‌OANDA‌‌trading‌‌account,‌‌you‌‌understand‌‌and‌‌agree‌‌to‌‌the‌‌uses‌‌of‌‌these‌‌funds‌‌as‌‌Margin‌‌for‌‌your‌‌OANDA‌‌Products‌‌until‌‌it‌‌is‌‌withdrawn‌‌to‌‌be‌‌paid‌‌to‌‌OANDA‌‌for‌any‌‌Realised/Unrealised‌‌Losses‌‌or‌‌for‌‌fees‌‌and‌‌charges.‌ ‌○ ONLY‌‌FUNDS‌‌DEEMED‌‌TO‌‌BE‌‌NO‌‌LONGER‌‌THE‌‌CUSTOMER’S‌‌FUNDS,‌‌BEING‌‌
FUNDS‌‌TO‌‌WHICH‌‌OANDA‌‌IS‌‌ENTITLED,‌‌MAY‌‌BE‌‌WITHDRAWN‌‌BY‌‌OANDA‌‌TO‌‌OANDA’S‌‌ACCOUNTS.‌ ‌Costs,‌‌Commissions,‌‌Fees‌‌&‌‌Charges‌ ‌●●OANDA‌‌charges‌‌the‌‌Finance‌‌Charge‌‌on‌‌Open‌‌Positions.‌ ‌OANDA‌‌applies‌‌a‌‌Finance‌‌Credit‌‌on‌‌Open‌‌Positions.‌ ‌It‌‌is‌‌important‌‌that‌‌you‌‌understand‌‌how‌‌the‌‌Finance‌‌Charges‌‌and‌‌Finance‌‌Credits‌‌work,‌‌because‌‌they‌‌will‌‌
affect‌‌your‌‌Account‌‌Value.‌‌The‌‌combined‌‌effect‌‌of‌‌Finance‌‌Charges‌‌and‌‌Finance‌‌Credits‌‌for‌‌all‌‌of‌‌your‌‌Open‌‌Positions‌‌may‌‌be‌‌considered‌‌to‌‌be‌‌your‌‌cost‌‌(or‌‌benefit)‌‌of‌‌holding‌‌your‌‌Open‌‌Positions,‌‌so‌‌you‌‌should‌‌take‌‌them‌‌into‌‌consideration‌‌when‌‌deciding‌‌whether‌‌to‌‌acquire‌‌or‌‌to‌‌dispose‌‌of‌‌your‌‌positions.‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

AFSL‌‌412981‌ ‌
14‌ ‌

‌
The‌‌three‌‌most‌‌important‌‌factors‌‌for‌‌Finance‌‌Charges‌‌and‌‌Finance‌‌Credits‌‌are:‌‌(i)‌‌what‌‌amounts‌‌they‌‌
apply‌‌to;‌‌(ii)‌‌their‌‌rates;‌‌and‌‌(iii)‌‌how‌‌they‌‌are‌‌calculated.‌ ‌There‌‌are‌‌some‌‌differences‌‌in‌‌how‌‌they‌‌apply‌‌to‌‌FX‌‌Contracts‌‌and‌‌to‌‌OANDA‌‌CFDs,‌‌so‌‌they‌‌are‌‌separately‌‌described‌‌below.‌ ‌The‌‌rates‌‌for‌‌Finance‌‌Charges‌‌and‌‌Finance‌‌Credits‌‌are‌‌often‌‌referred‌‌to‌‌as‌‌“interest‌‌rates”.‌‌This‌‌is‌‌a‌‌convenient‌‌reference‌‌to‌‌the‌‌rates‌‌for‌‌Finance‌‌Charges‌‌and‌‌Finance‌‌Credits.‌ ‌OANDA‌‌derives‌‌a‌‌financial‌‌benefit‌‌by‌‌entering‌‌into‌‌its‌‌hedge‌‌transactions‌‌with‌‌other‌‌persons‌‌at‌‌rates‌‌and‌‌prices‌‌different‌‌from‌‌those‌‌charged‌‌to‌‌Clients.‌ ‌Finance‌‌Charge‌‌and‌‌Finance‌‌Credit‌‌on‌‌contracts‌ ‌Open‌‌Positions‌‌will‌‌be‌‌charged‌‌a‌‌Finance‌‌Charge‌‌Adjustment‌‌or‌‌will‌‌be‌‌entitled‌‌to‌‌receive‌‌a‌‌Finance‌‌
Credit‌‌Adjustment,‌‌depending‌‌on‌‌the‌‌Transaction‌‌chosen‌‌by‌‌you‌‌either‌‌buy/long‌‌position‌‌or‌‌sell/short‌‌
position.‌ ‌These‌‌accrue‌‌(and‌‌so‌‌are‌‌calculated)‌‌on‌‌an:‌ ‌●●End‌‌of‌‌Day‌‌basis‌‌for‌‌the‌‌following‌‌products:‌ ‌○ Forex‌‌and‌‌CFDs‌‌on‌‌Bitcoin;‌ ‌○ CFDs‌‌on‌‌Indices;‌ ‌○ CFDs‌‌on‌‌Precious‌‌Metals;‌ ‌■ Gold,‌‌Silver,‌‌Platinum‌‌and‌‌Palladium‌ ‌Second‌‌by‌‌Second‌‌basis‌‌for‌‌the‌‌following‌‌products:‌ ‌○ CFDs‌‌on‌‌Commodities‌‌and‌‌Copper;‌ ‌○ CFDs‌‌on‌‌Bonds‌ ‌The‌‌full‌‌details‌‌of‌‌OANDAs‌‌finance‌‌charges‌‌can‌‌be‌‌found‌‌on‌‌our‌‌website‌‌at‌ ‌https://www.oanda.com/au-en/trading/financing-costs/‌ ‌Core‌‌Pricing‌ ‌If‌‌you‌‌choose‌‌the‌‌Core‌‌Pricing‌‌option,‌‌OANDA‌‌will‌‌charge‌‌your‌‌account‌‌the‌‌Commission‌‌Charges,‌‌in‌‌addition‌‌to‌‌any‌‌other‌‌charges‌‌or‌‌fees‌‌set‌‌forth‌‌in‌‌this‌‌PDS.‌‌As‌‌long‌‌as‌‌Core‌‌Pricing‌‌is‌‌in‌‌effect‌‌in‌‌your‌‌account,‌‌the‌‌Commission‌‌Charges‌‌will‌‌be‌‌assessed‌‌on‌‌all‌‌Orders‌‌and‌‌Trades‌‌executed‌‌by‌‌you‌‌in‌‌your‌‌
Account.‌‌ ‌Further‌‌details‌‌of‌‌OANDA’s‌‌Core‌‌Pricing‌‌can‌‌be‌‌found‌‌on‌‌our‌‌website‌‌at‌ ‌https://www.oanda.com/au-en/trading/our-pricing/‌ ‌Conversion‌ ‌OANDA‌‌will‌‌convert‌‌any‌‌profit‌‌or‌‌loss‌‌on‌‌your‌‌Transactions‌‌from‌‌the‌‌currency‌‌of‌‌your‌‌Transaction‌‌to‌‌the‌‌currency‌‌of‌‌your‌‌Account‌‌and‌‌we‌‌charge‌‌a‌‌conversion‌‌fee‌‌for‌‌doing‌‌this.‌‌The‌‌full‌‌details‌‌on‌‌how‌‌OANDA‌‌
charges‌‌for‌‌currency‌‌conversion‌‌fees‌‌can‌‌be‌‌found‌‌on‌‌our‌‌website‌‌at‌‌the‌‌following‌‌link‌‌:-‌ ‌h‌ ttps://oanda.secure.force.com/#!/article/kA04O000000LYJpSAO/ka04O000000LmbeQAC/‌ ‌‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

AFSL‌‌412981‌ ‌
15‌ ‌

‌
Guaranteed‌‌Stop‌‌Loss‌‌Order‌‌(GSLO)‌‌Premium‌ ‌GSLOs‌‌‌incur‌‌a‌‌fee‌‌(or‌‌GSLO‌‌premium),‌‌but‌‌this‌‌is‌‌only‌‌charged‌‌if‌‌the‌‌GSLO‌‌is‌‌triggered.‌ ‌Inactive‌‌Accounts‌Y‌ ou‌‌acknowledge‌‌that‌‌in‌‌the‌‌event‌‌that‌‌there‌‌are‌‌no‌‌Open‌‌Positions‌‌in‌‌your‌‌Account‌‌for‌‌an‌‌extended‌‌period‌‌of‌‌time,‌‌OANDA‌‌may‌‌designate‌‌your‌‌Account‌‌as‌‌“inactive”.‌‌If‌‌you‌‌request‌‌to‌‌reactivate‌‌your‌‌Account,‌‌you‌‌agree‌‌to‌‌provide‌‌whatever‌‌information‌‌and‌‌execute‌‌such‌‌additional‌‌
documentation‌‌as‌‌OANDA‌‌may‌‌reasonably‌‌require,‌‌and‌‌to‌‌be‌‌bound‌‌by‌‌the‌‌version‌‌of‌‌these‌‌Terms‌‌in‌‌effect‌‌at‌‌such‌‌time.‌‌OANDA‌‌may‌‌impose‌‌Inactivity‌‌Fees‌‌on‌‌inactive‌‌accounts,‌‌to‌‌be‌‌calculated‌‌and‌‌charged‌‌in‌‌such‌‌manner‌‌as‌‌OANDA‌‌shall‌‌publish‌‌from‌‌time‌‌to‌‌time‌‌on‌‌OANDA’s‌‌website‌‌at‌‌https://oanda.secure.force.com/?when=1614126919069#!/article/kA04O000000XjNWSA0/ka04O000000‌
Y4laQAC/‌ ‌External‌‌Fees,‌‌Taxes‌‌and‌‌Charges‌ ‌In‌‌some‌‌cases,‌‌there‌‌may‌‌be‌‌fees‌‌charged‌‌by‌‌third‌‌party‌‌banks‌‌(e.g.,‌‌bank‌‌charges‌‌on‌‌international‌‌transfers)‌‌to‌‌OANDA‌‌which‌‌OANDA‌‌may‌‌need‌‌to‌‌charge‌‌you.‌‌These‌‌are‌‌not‌‌financial‌‌product‌‌fees,‌‌taxes‌‌or‌‌charges‌‌so‌‌are‌‌not‌‌disclosed‌‌in‌‌the‌‌PDS.‌‌They‌‌may‌‌be‌‌disclosed‌‌in‌‌the‌‌Electronic‌‌Trading‌‌Platforms,‌‌on‌‌OANDA’s‌‌website‌‌or‌‌in‌‌OANDA’s‌‌financial‌‌services‌‌guide,‌‌depending‌‌on‌‌the‌‌nature‌‌of‌‌the‌‌item.‌‌You‌‌are‌‌responsible‌‌for‌‌any‌‌stamp‌‌duty,‌‌transaction‌‌duty,‌‌GST‌‌or‌‌similar‌‌goods‌‌and‌‌services‌‌or‌‌value‌‌added‌‌tax‌‌payable‌‌in‌‌respect‌‌of‌‌trading‌‌in‌‌Transactions‌‌(except‌‌for‌‌any‌‌income‌‌tax‌‌payable‌‌by‌‌OANDA).‌ ‌
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OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

AFSL‌‌412981‌ ‌
16‌ ‌

‌

Section‌‌4‌‌–‌‌Trading‌‌with‌‌OANDA‌ ‌OANDA‌‌Trading‌‌Platforms‌ ‌Your‌‌OANDA‌‌Trading‌‌Account‌‌gives‌‌you‌‌access‌‌to‌‌OANDA‌‌Trading‌‌Platforms‌‌(that‌‌is,‌‌OANDA‌‌fxTrade‌‌and‌‌OANDA‌‌MT4).‌‌Once‌‌your‌‌Account‌‌is‌‌established‌‌and‌‌opened‌‌by‌‌OANDA,‌‌you‌‌can‌‌choose‌‌whether‌‌to‌‌use‌‌both‌‌OANDA‌‌Trading‌‌Platforms‌‌but‌‌there‌‌are‌‌important‌‌differences‌‌in‌‌using‌‌either‌‌OANDA‌‌Trading‌‌
Platforms‌‌which‌‌are‌‌explained‌‌below.‌ ‌The‌‌OANDA‌‌Products‌‌can‌‌be‌‌traded‌‌across‌‌all‌‌OANDA‌‌Trading‌‌Platforms.‌
We‌‌will‌‌endeavour‌‌to‌‌use‌‌our‌‌best‌‌efforts‌‌to‌‌make‌‌the‌‌OANDA‌‌Trading‌‌Platforms‌‌available‌‌when‌‌you‌‌access‌‌them,‌‌however‌‌we‌‌cannot‌‌give‌‌an‌‌absolute‌‌assurance‌‌or‌‌guarantee‌‌that‌‌the‌‌OANDA‌‌Trading‌‌
Platforms‌‌will‌‌be‌‌available‌‌on‌‌a‌‌continuous‌‌basis‌‌due‌‌to‌‌system‌‌failures‌‌and‌‌other‌‌related‌‌technological‌‌factors.‌ ‌You‌‌must‌‌carefully‌‌read‌‌and‌‌follow‌‌the‌‌operational‌‌rules‌‌for‌‌each‌‌of‌‌the‌‌OANDA‌‌Trading‌‌Platforms.‌‌Each‌‌
OANDA‌‌Trading‌‌Platform‌‌may‌‌impose‌‌special‌‌operating‌‌rules‌‌including‌‌but‌‌not‌‌limited‌‌to:‌ ‌●●●posting‌‌Margin‌‌(such‌‌as‌‌when‌‌payment‌‌is‌‌required‌‌and‌‌when‌‌the‌‌payment‌‌is‌‌effective);‌ ‌how‌‌Margins‌‌are‌‌calculated‌‌(such‌‌as‌‌automatic‌‌adjustments‌‌outside‌‌of‌‌trading‌‌hours,‌‌including‌‌at‌‌the‌‌weekend);‌‌and‌ ‌how‌‌Orders‌‌are‌‌managed.‌ ‌OANDA‌‌utilises‌‌advanced‌‌technology‌‌to‌‌enable‌‌the‌‌OANDA‌‌MT4‌‌Trading‌‌Platform‌‌to‌‌communicate‌‌
Orders‌‌and‌‌synchronise‌‌OANDA‌‌Trading‌‌Account‌‌activity‌‌with‌‌the‌‌OANDA‌‌fxTrade‌‌Trading‌‌Platform.‌‌
However,‌‌there‌‌are‌‌some‌‌instances‌‌when‌‌Transactions‌‌originating‌‌from‌‌the‌‌OANDA‌‌MT4‌‌Trading‌‌
Platform‌‌may‌‌not‌‌synchronise‌‌immediately.‌‌For‌‌example,‌‌you‌‌may‌‌find‌‌that‌‌you‌‌have‌‌executed‌‌an‌‌Order‌‌on‌‌the‌‌OANDA‌‌fxTrade‌‌Trading‌‌Platform,‌‌but‌‌such‌‌Orders‌‌are‌‌not‌‌reflected‌‌accurately‌‌on‌‌the‌‌OANDA‌‌
MT4‌‌platform.‌‌In‌‌most‌‌cases‌‌though,‌‌the‌‌synchronisation‌‌of‌‌the‌‌two‌‌Electronic‌‌Trading‌‌Platforms‌‌occurs‌‌
daily.‌ ‌The‌‌OANDA‌‌MT4‌‌Trading‌‌Platform‌‌does‌‌not‌‌allow‌‌displaying‌‌Margin‌‌Cover‌‌requirements‌‌on‌‌a‌‌per‌‌Underlying‌‌Security‌‌basis.‌‌Therefore,‌‌the‌‌Leverage‌‌Ratio‌‌the‌‌Client‌‌chooses‌‌is‌‌used‌‌in‌‌Margin‌‌calculations‌‌for‌‌all‌‌Underlying‌‌Securities.‌ ‌The‌‌OANDA‌‌fxTrade‌‌Trading‌‌Platform‌‌assesses‌‌the‌‌maximum‌‌Leverage‌‌Ratio‌‌allowed‌‌for‌‌each‌‌specific‌‌
Underlying‌‌Security‌‌and‌‌uses‌‌that‌‌if‌‌it‌‌is‌‌lower‌‌than‌‌the‌‌Client’s‌‌Leverage‌‌Ratio.‌‌The‌‌OANDA‌‌fxTrade‌‌
Trading‌‌Platform‌‌also‌‌calculates‌‌the‌‌Margin‌‌used‌‌by‌‌a‌‌Transaction‌‌using‌‌the‌‌current‌‌price‌‌of‌‌the‌‌Underlying‌‌Security,‌‌whereas‌‌OANDA‌‌MT4‌‌calculates‌‌the‌‌Margin‌‌used‌‌by‌‌a‌‌Transaction‌‌using‌‌the‌‌open‌‌
price‌‌of‌‌the‌‌Transaction.‌ ‌If‌‌there‌‌is‌‌a‌‌difference‌‌between‌‌the‌‌information‌‌on‌‌your‌‌Account‌‌between‌‌the‌‌two‌‌Electronic‌‌
Trading‌‌Platforms,‌‌your‌‌OANDA‌‌fxTrade‌‌Account‌‌represents‌‌the‌‌accurate‌‌Account‌‌activity,‌‌
Balance,‌‌Account‌‌Value‌‌and‌‌Margin‌‌Cover‌‌so‌‌OANDA‌‌strongly‌‌recommends‌‌that‌‌you‌‌view‌‌your‌‌
OANDA‌‌fxTrade‌‌Account‌‌for‌‌this‌‌information.‌ ‌‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

AFSL‌‌412981‌ ‌
17‌ ‌

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Further‌‌information‌‌covering‌‌our‌‌trading‌‌platforms‌‌can‌‌be‌‌found‌‌on‌‌our‌‌website‌‌at‌‌https://www.oanda.com/au-en/trading/platforms/‌ ‌We‌‌recommend‌‌that‌‌prior‌‌to‌‌engaging‌‌in‌‌live‌‌trading‌‌you‌‌open‌‌a‌‌“demo”‌‌account‌‌and‌‌conduct‌‌simulated‌‌
trading.‌‌This‌‌enables‌‌you‌‌to‌‌become‌‌familiar‌‌with‌‌the‌‌OANDA‌‌Trading‌‌Platform‌‌that‌‌you‌‌wish‌‌to‌‌transact‌‌in.‌ ‌
V20‌‌Trading‌‌Engine‌ ‌When‌‌trading‌‌with‌‌a‌‌v20‌‌Trading‌‌Engine‌‌Hedging‌‌account‌‌you‌‌can‌‌open‌‌long‌‌and‌‌short‌‌trades‌‌on‌‌the‌‌same‌‌instrument.‌‌Margin‌‌will‌‌be‌‌calculated‌‌based‌‌upon‌‌the‌‌largest‌‌side‌‌of‌‌a‌‌hedged‌‌position‌‌(also‌‌known‌‌as‌‌the‌‌“longest‌‌leg”).‌‌This‌‌will‌‌impact‌‌maximum‌‌trade‌‌sizes‌‌and‌‌how‌‌close‌‌your‌‌account‌‌is‌‌to‌‌triggering‌‌a‌‌margin‌‌closeout.‌‌The‌‌platform‌‌will‌‌show‌‌every‌‌hedged‌‌trade‌‌but‌‌only‌‌a‌‌net‌‌position‌‌will‌‌be‌‌reflected‌‌for‌‌each‌‌instrument.‌‌For‌‌more‌‌details‌‌visit‌‌our‌‌website.‌ ‌Order‌‌Types‌ ‌Different‌‌types‌‌of‌‌Orders‌‌are‌‌available‌‌on‌‌the‌‌OANDA‌‌Trading‌‌Platforms.‌‌You‌‌will‌‌be‌‌able‌‌to‌‌find‌‌out‌‌
information‌‌about‌‌Orders‌‌that‌‌apply‌‌on‌‌the‌‌OANDA‌‌Trading‌‌Platforms‌‌when‌‌you‌‌log‌‌in.‌‌The‌‌following‌‌are‌‌examples‌‌of‌‌Order‌‌types‌‌that‌‌may‌‌be‌‌available‌‌to‌‌you.‌‌If‌‌you‌‌have‌‌any‌‌questions,‌‌please‌‌contact‌‌OANDA.‌ ‌Important‌‌notice‌‌about‌‌this‌‌section‌ ‌When‌‌you‌‌request‌‌to‌‌place‌‌one‌‌of‌‌the‌‌types‌‌of‌‌Orders‌‌described‌‌in‌‌this‌‌section,‌‌we‌‌have‌‌discretion‌‌whether‌‌to‌‌accept‌‌and‌‌execute‌‌any‌‌such‌‌request.‌‌We‌‌will,‌‌at‌‌our‌‌discretion,‌‌accept‌‌or‌‌reject‌‌any‌‌Orders.‌‌
The‌‌price‌‌at‌‌which‌‌we‌‌accept‌‌an‌‌Order‌‌to‌‌trade‌‌will‌‌generally‌‌be‌‌based‌‌on‌‌filling‌‌the‌‌full‌‌volume‌‌of‌‌the‌‌Order‌‌in‌‌one‌‌Transaction‌‌if‌‌possible.‌‌The‌‌type‌‌of‌‌Orders‌‌and‌‌how‌‌they‌‌may‌‌be‌‌filled,‌‌if‌‌at‌‌all,‌‌might‌‌
depend‌‌on‌‌the‌‌rules‌‌of‌‌the‌‌Exchange‌‌where‌‌the‌‌Underlying‌‌Securities‌‌are‌‌being‌‌traded‌‌and‌‌the‌‌pricing‌‌
model‌‌you‌‌have‌‌selected.‌‌For‌‌some‌‌contracts‌‌that‌‌you‌‌choose‌‌to‌‌trade,‌‌there‌‌may‌‌be‌‌a‌‌minimum‌‌trade‌‌value‌‌or‌‌other‌‌restrictions‌‌(e.g.,‌‌pricing)‌‌that‌‌relate‌‌to‌‌a‌‌particular‌‌market.‌ ‌OANDA’s‌‌fxTrade‌‌platform‌‌does‌‌not‌‌allow‌‌long‌‌positions‌‌and‌‌short‌‌positions‌‌to‌‌be‌‌opened‌‌over‌‌the‌‌same‌‌
type‌‌and‌‌number‌‌of‌‌Underlying‌‌Securities.‌‌The‌‌OANDA‌‌Trading‌‌Platform‌‌prevents‌‌such‌‌Orders‌‌and‌‌may‌‌also‌‌later‌‌automatically‌‌Close‌‌Out‌‌positions‌‌if‌‌the‌‌Client‌‌creates‌‌new‌‌positions‌‌with‌‌the‌‌same‌‌effect.‌ ‌References‌‌to‌‌Orders‌‌being‌‌filled‌‌immediately‌‌or‌‌positions‌‌being‌‌Closed‌‌Out‌‌immediately‌‌or‌‌automatically‌‌refer‌‌to‌‌processing‌‌of‌‌Transactions‌‌as‌‌soon‌‌as‌‌practical‌‌in‌‌the‌‌ordinary‌‌course‌‌of‌‌electronic‌‌processing.‌‌
The‌‌speed‌‌of‌‌electronic‌‌processing‌‌can‌‌depend‌‌on‌‌several‌‌technical‌‌factors,‌‌including‌‌any‌‌transaction‌‌
filters‌‌required‌‌for‌‌regulatory‌‌compliance.‌ ‌Entry‌‌Order‌ ‌Entry‌‌orders‌‌are‌‌commonly‌‌used‌‌to‌‌enter‌‌a‌‌market‌‌at‌‌a‌‌predefined‌‌level.‌ ‌●●Entry‌‌orders‌‌to‌‌buy‌‌can‌‌be‌‌placed‌‌above‌‌(Stop‌‌Entry)‌‌or‌‌below‌‌(Limit)‌‌the‌‌current‌‌market‌‌price‌‌and‌‌are‌‌triggered‌‌when‌‌the‌‌Ask‌‌price‌‌hits‌‌or‌‌breaches‌‌the‌‌price‌‌level‌‌specified.‌ ‌Entry‌‌orders‌‌to‌‌sell‌‌can‌‌be‌‌placed‌‌above‌‌(Limit)‌‌or‌‌below‌‌(Stop‌‌Entry)‌‌the‌‌current‌‌market‌‌price‌‌and‌‌are‌‌triggered‌‌when‌‌the‌‌Bid‌‌price‌‌hits‌‌or‌‌breaches‌‌the‌‌price‌‌level‌‌specified.‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

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When‌‌an‌‌entry‌‌order‌‌is‌‌triggered,‌‌it‌‌is‌‌immediately‌‌filled‌‌at‌‌the‌‌market‌‌price‌‌that‌‌triggered‌‌it.‌‌Note‌‌that‌‌the‌‌price‌‌at‌‌which‌‌your‌‌order‌‌is‌‌filled‌‌may‌‌differ‌‌from‌‌the‌‌price‌‌you‌‌set‌‌for‌‌the‌‌order‌‌if‌‌the‌‌market‌‌breaches‌‌the‌‌price‌‌rather‌‌than‌‌hitting‌‌it.‌ ‌Limit‌‌Order‌ ‌Limit‌‌orders‌‌are‌‌commonly‌‌used‌‌to‌‌enter‌‌a‌‌market‌‌and‌‌to‌‌take‌‌profit‌‌when‌‌the‌‌market‌‌hits‌‌predefined‌‌levels.‌ ‌●●Limit‌‌orders‌‌to‌‌buy‌‌are‌‌placed‌‌below‌‌the‌‌current‌‌market‌‌price‌‌and‌‌are‌‌triggered‌‌when‌‌the‌‌Ask‌‌
price‌‌hits‌‌or‌‌breaches‌‌the‌‌price‌‌level‌‌specified.‌‌If‌‌placed‌‌above‌‌the‌‌current‌‌market‌‌price,‌‌the‌‌order‌‌is‌‌filled‌‌immediately‌‌at‌‌the‌‌best‌‌available‌‌price‌‌below‌‌or‌‌at‌‌the‌‌limit‌‌price.‌ ‌Limit‌‌orders‌‌to‌‌sell‌‌are‌‌placed‌‌above‌‌the‌‌current‌‌market‌‌price‌‌and‌‌are‌‌triggered‌‌when‌‌the‌‌Bid‌‌
price‌‌hits‌‌or‌‌breaches‌‌the‌‌price‌‌level‌‌specified.‌‌If‌‌placed‌‌below‌‌the‌‌current‌‌market‌‌price,‌‌the‌‌order‌‌is‌‌filled‌‌immediately‌‌at‌‌the‌‌best‌‌available‌‌price‌‌above‌‌or‌‌at‌‌the‌‌limit‌‌price.‌ ‌When‌‌a‌‌limit‌‌order‌‌is‌‌triggered,‌‌it‌‌is‌‌immediately‌‌filled‌‌at‌‌the‌‌market‌‌price‌‌that‌‌triggered‌‌it.‌‌Note‌‌that‌‌the‌‌price‌‌at‌‌which‌‌your‌‌order‌‌is‌‌filled‌‌may‌‌differ‌‌from‌‌the‌‌price‌‌you‌‌set‌‌for‌‌the‌‌order‌‌if‌‌the‌‌market‌‌breaches‌‌the‌‌price‌‌rather‌‌than‌‌hitting‌‌it.‌ ‌Market‌‌Order‌ ‌A‌‌Market‌‌Order‌‌is‌‌executed‌‌immediately‌‌when‌‌placed.‌‌It‌‌is‌‌priced‌‌using‌‌the‌‌current‌‌spot,‌‌or‌‌market‌‌price‌‌of‌‌the‌‌Underlying‌‌Security.‌ ‌A‌‌Market‌‌Order‌‌immediately‌‌becomes‌‌an‌‌Open‌‌Position‌‌and‌‌subject‌‌to‌‌fluctuations‌‌in‌‌the‌‌market.‌‌This‌‌means‌‌that‌‌should‌‌the‌‌market‌‌move‌‌against‌‌you,‌‌the‌‌value‌‌of‌‌your‌‌Open‌‌Position‌‌deteriorates‌‌–‌‌this‌‌is‌‌an‌‌
Unrealised‌‌Loss.‌‌If‌‌you‌‌were‌‌to‌‌close‌‌the‌‌position‌‌at‌‌this‌‌point,‌‌you‌‌would‌‌realise‌‌the‌‌loss‌‌and‌‌after‌‌that‌‌your‌‌Account‌‌Balance‌‌would‌‌be‌‌updated‌‌to‌‌include‌‌the‌‌revised‌‌totals.‌ ‌Take‌‌Profit‌‌Order‌ ‌A‌‌Take‌‌Profit‌‌Order‌‌automatically‌‌closes‌‌an‌‌Open‌‌Position‌‌when‌‌the‌‌price‌‌reaches‌‌your‌‌specified‌‌Take‌‌
Profit‌‌Order‌‌price.‌‌Take‌‌Profit‌‌Orders‌‌are‌‌used‌‌to‌‌lock-in‌‌profits‌‌when‌‌you‌‌are‌‌unavailable‌‌to‌‌monitor‌‌your‌‌Open‌‌Positions.‌‌For‌‌example,‌‌if‌‌you‌‌are‌‌long‌‌USD/JPY‌‌at‌‌109.58‌‌and‌‌you‌‌want‌‌to‌‌take‌‌your‌‌profit‌‌when‌‌the‌‌rate‌‌reaches‌‌110.00,‌‌you‌‌can‌‌set‌‌this‌‌rate‌‌as‌‌your‌‌Take‌‌Profit‌‌Order.‌‌If‌‌the‌‌Ask‌‌price‌‌reaches‌‌110.00,‌‌
the‌‌Open‌‌Position‌‌is‌‌closed‌‌by‌‌the‌‌OANDA‌‌Trading‌‌Platform‌‌and‌‌your‌‌Transaction’s‌‌gross‌‌profit‌‌is‌‌generated.‌‌Your‌‌Transaction‌‌is‌‌closed‌‌at‌‌the‌‌current‌‌market‌‌rate.‌‌In‌‌a‌‌fast-moving‌‌market,‌‌there‌‌may‌‌be‌‌a‌‌gap‌‌between‌‌the‌‌current‌‌market‌‌rate‌‌and‌‌the‌‌rate‌‌you‌‌set‌‌as‌‌your‌‌Take‌‌Profit‌‌Order‌‌(so‌‌the‌‌exact‌‌
Transaction‌‌price‌‌cannot‌‌be‌‌guaranteed).‌ ‌Stop‌‌Order‌ ‌Stop‌‌orders‌‌are‌‌commonly‌‌used‌‌to‌‌enter‌‌a‌‌market‌‌and‌‌to‌‌stop‌‌losses‌‌when‌‌the‌‌market‌‌hits‌‌predefined‌‌levels.‌ ‌●Stop‌‌orders‌‌to‌‌sell‌‌are‌‌placed‌‌below‌‌the‌‌current‌‌market‌‌price‌‌and‌‌are‌‌triggered‌‌when‌‌the‌‌Ask‌‌
price‌‌hits‌‌or‌‌breaches‌‌the‌‌price‌‌level‌‌specified.‌‌If‌‌placed‌‌above‌‌the‌‌current‌‌market‌‌price,‌‌the‌‌order‌‌is‌‌filled‌‌immediately‌‌at‌‌the‌‌best‌‌available‌‌price.‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

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Stop‌‌orders‌‌to‌‌buy‌‌are‌‌placed‌‌above‌‌the‌‌current‌‌market‌‌price‌‌and‌‌are‌‌triggered‌‌when‌‌the‌‌Bid‌‌
price‌‌hits‌‌or‌‌breaches‌‌the‌‌price‌‌level‌‌specified.‌‌If‌‌placed‌‌below‌‌the‌‌current‌‌market‌‌price,‌‌the‌‌order‌‌is‌‌filled‌‌immediately‌‌at‌‌the‌‌best‌‌available‌‌price.‌ ‌When‌‌a‌‌stop‌‌order‌‌is‌‌triggered,‌‌it‌‌is‌‌immediately‌‌filled‌‌at‌‌the‌‌market‌‌price‌‌that‌‌triggered‌‌it.‌‌Note‌‌that‌‌the‌‌price‌‌at‌‌which‌‌your‌‌order‌‌is‌‌filled‌‌may‌‌differ‌‌from‌‌the‌‌price‌‌you‌‌set‌‌for‌‌the‌‌order‌‌if‌‌the‌‌market‌‌breaches‌‌the‌‌price‌‌rather‌‌than‌‌hitting‌‌it.‌ ‌Stop‌‌Loss‌‌Orders‌ ‌OANDA‌‌may,‌‌in‌‌its‌‌discretion,‌‌accept‌‌an‌‌Order‌‌from‌‌you‌‌to‌‌close‌‌a‌‌position‌‌if‌‌the‌‌price‌‌moves‌‌to‌‌or‌‌beyond‌‌a‌‌level‌‌specified‌‌by‌‌you.‌‌This‌‌is‌‌known‌‌as‌‌a‌‌“Stop‌‌Loss‌‌Order”.‌ ‌You‌‌would‌‌generally‌‌choose‌‌to‌‌place‌‌a‌‌Stop‌‌Loss‌‌Order‌‌to‌‌provide‌‌some‌‌risk‌‌protection.‌‌Stop‌‌Loss‌‌
Orders‌‌are‌‌commonly‌‌used‌‌to‌‌exit‌‌positions‌‌and‌‌to‌‌protect‌‌investments‌‌if‌‌the‌‌market‌‌moves‌‌against‌‌an‌‌Open‌‌Position.‌ ‌For‌‌example,‌‌if‌‌your‌‌Open‌‌Position‌‌moves‌‌towards‌‌making‌‌a‌‌loss‌‌based‌‌on‌‌a‌‌level‌‌chosen‌‌by‌‌you,‌‌the‌‌Stop‌‌Loss‌‌Order‌‌would‌‌be‌‌triggered‌‌to‌‌try‌‌to‌‌close‌‌your‌‌Open‌‌Position.‌ ‌Stop‌‌Loss‌‌Orders‌‌to‌‌sell‌‌are‌‌placed‌‌below‌‌the‌‌current‌‌market‌‌level‌‌and‌‌your‌‌Stop‌‌Loss‌‌Order‌‌would‌‌be‌‌executed‌‌i.e.‌‌triggered‌‌if‌‌our‌‌Sell‌‌price‌‌(for‌‌a‌‌Stop‌‌Loss‌‌Order‌‌that‌‌requires‌‌an‌‌Order‌‌to‌‌sell‌‌a‌‌contract)‌‌
moves‌‌against‌‌you‌‌to‌‌a‌‌point‌‌that‌‌is‌‌at‌‌or‌‌lower‌‌than‌‌the‌‌level‌‌specified‌‌by‌‌you‌‌(and‌‌accepted‌‌by‌‌us).‌‌Conversely,‌‌a‌‌Stop‌‌Loss‌‌Order‌‌to‌‌buy‌‌is‌‌placed‌‌above‌‌the‌‌current‌‌market‌‌level‌‌and‌‌your‌‌Stop‌‌Loss‌‌Order‌‌would‌‌be‌‌executed‌‌i.e.‌‌triggered‌‌if‌‌our‌‌Bid‌‌price‌‌(for‌‌a‌‌Stop‌‌Loss‌‌Order‌‌that‌‌requires‌‌an‌‌Order‌‌to‌‌buy‌‌a‌‌contract)‌‌moves‌‌against‌‌you‌‌to‌‌a‌‌point‌‌that‌‌is‌‌at‌‌or‌‌above‌‌the‌‌level‌‌specified‌‌by‌‌you‌‌(and‌‌accepted‌‌by‌‌us).‌ ‌All‌‌Stop‌‌Loss‌‌Orders‌‌are‌‌subject‌‌to‌‌agreement‌‌by‌‌us,‌‌so‌‌you‌‌cannot‌‌be‌‌assured‌‌that‌‌you‌‌will‌‌always‌‌be‌‌able‌‌to‌‌have‌‌a‌‌Stop‌‌Loss‌‌Order.‌‌While‌‌OANDA‌‌has‌‌absolute‌‌discretion‌‌whether‌‌to‌‌accept‌‌a‌‌Stop‌‌Loss‌‌
Order,‌‌it‌‌will‌‌generally‌‌try‌‌to‌‌do‌‌so,‌‌subject‌‌to‌‌market‌‌conditions‌‌and‌‌the‌‌reasonableness‌‌of‌‌your‌‌Stop‌‌Loss‌‌
Order.‌‌Your‌‌Order‌‌may‌‌be‌‌unreasonable‌‌if,‌‌for‌‌example,‌‌the‌‌level‌‌you‌‌have‌‌specified‌‌is‌‌too‌‌far‌‌away‌‌from‌‌the‌‌market‌‌price,‌‌the‌‌Underlying‌‌Security‌‌or‌‌trading‌‌in‌‌the‌‌Underlying‌‌Security‌‌has‌‌been‌‌halted‌‌or‌‌suspended‌‌on‌‌the‌‌market.‌ ‌Even‌‌if‌‌we‌‌accept‌‌your‌‌Stop‌‌Loss‌‌Order,‌‌market‌‌conditions‌‌may‌‌move‌‌against‌‌you‌‌rapidly.‌‌It‌‌is‌‌possible‌‌that‌‌you‌‌may‌‌receive‌‌the‌‌best‌‌available‌‌price‌‌on‌‌the‌‌market‌‌which‌‌is‌‌worse‌‌than‌‌the‌‌one‌‌you‌‌have‌‌requested‌‌from‌‌OANDA.‌‌A‌‌gap‌‌in‌‌market‌‌prices‌‌reflects‌‌the‌‌market‌‌for‌‌the‌‌contracts,‌‌so‌‌can‌‌occur‌‌for‌‌any‌‌reason,‌‌without‌‌any‌‌apparent‌‌reason‌‌or‌‌at‌‌any‌‌time.‌ ‌Trailing‌‌Stop‌‌Order‌ ‌A‌‌Trailing‌‌Stop‌‌Order‌‌is‌‌a‌‌Stop‌‌Loss‌‌Order‌‌where‌‌the‌‌stop‌‌price‌‌“trails”‌‌the‌‌spot‌‌price.‌‌As‌‌the‌‌market‌‌rises‌‌(for‌‌long‌‌positions)‌‌the‌‌stop‌‌price‌‌rises‌‌according‌‌to‌‌the‌‌proportion‌‌you‌‌set,‌‌but‌‌if‌‌the‌‌market‌‌price‌‌falls,‌‌the‌‌stop‌‌price‌‌remains‌‌unchanged.‌‌This‌‌type‌‌of‌‌Stop‌‌Loss‌‌Order‌‌helps‌‌you‌‌to‌‌set‌‌a‌‌limit‌‌on‌‌the‌‌maximum‌‌possible‌‌loss‌‌without‌‌limiting‌‌the‌‌possible‌‌gain‌‌on‌‌a‌‌position.‌‌It‌‌also‌‌reduces‌‌the‌‌need‌‌to‌‌constantly‌‌
monitor‌‌the‌‌market‌‌prices‌‌of‌‌Open‌‌Positions.‌ ‌Example:‌‌you‌‌expect‌‌the‌‌price‌‌of‌‌an‌‌instrument‌‌to‌‌rise‌‌and‌‌reach‌‌at‌‌least‌‌1.5710‌‌by‌‌the‌‌end‌‌of‌‌the‌‌day.‌‌You‌‌open‌‌a‌‌long‌‌position‌‌at‌‌1.5680.‌‌To‌‌limit‌‌any‌‌potential‌‌loss,‌‌you‌‌place‌‌a‌‌trailing‌‌stop‌‌Order‌‌at‌‌1.5670‌‌
with‌‌a‌‌distance‌‌to‌‌market‌‌of‌‌10‌‌and‌‌a‌‌trailing‌‌step‌‌of‌‌5.‌‌During‌‌the‌‌day‌‌the‌‌market‌‌rises‌‌as‌‌predicted‌‌and‌‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

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the‌‌trailing‌‌stop‌‌follows.‌‌When‌‌the‌‌price‌‌suddenly‌‌drops‌‌to‌‌1.5700,‌‌the‌‌trailing‌‌stop‌‌price‌‌has‌‌reached‌‌
1.5705‌‌and‌‌is‌‌triggered.‌‌You‌‌have‌‌thereby‌‌not‌‌only‌‌protected‌‌your‌‌initial‌‌investment,‌‌but‌‌you‌‌have‌‌also‌‌
managed‌‌to‌‌keep‌‌a‌‌good‌‌proportion‌‌of‌‌the‌‌profits.‌ ‌When‌‌setting‌‌the‌‌stop‌‌price,‌‌you‌‌should‌‌be‌‌careful‌‌not‌‌to‌‌set‌‌it‌‌too‌‌close‌‌to‌‌the‌‌current‌‌market‌‌price,‌‌
especially‌‌in‌‌a‌‌volatile‌‌market,‌‌so‌‌the‌‌stop‌‌price‌‌might‌‌be‌‌hit‌‌before‌‌the‌‌price‌‌starts‌‌to‌‌go‌‌up/down‌‌as‌‌you‌‌
expect.‌‌On‌‌the‌‌other‌‌hand,‌‌you‌‌should‌‌carefully‌‌consider‌‌how‌‌much‌‌you‌‌can‌‌afford‌‌to‌‌lose,‌‌if‌‌your‌‌prediction‌‌does‌‌not‌‌hold.‌ ‌In‌‌any‌‌case,‌‌the‌‌stop‌‌loss‌‌order,‌‌of‌‌any‌‌kind,‌‌is‌‌not‌‌a‌‌guarantee‌‌that‌‌it‌‌will‌‌be‌‌made.‌‌This‌‌is‌‌the‌‌case‌‌with‌‌any‌‌Order‌‌you‌‌place‌‌(and‌‌which‌‌is‌‌accepted‌‌by‌‌OANDA)‌‌if‌‌it‌‌is‌‌made‌‌in‌‌accordance‌‌with‌‌the‌‌Account‌‌Terms.‌ ‌‌Guaranteed‌‌Stop‌‌Loss‌‌Orders‌‌(GSLOs)‌ ‌Guaranteed‌‌Stop‌‌Loss‌‌Orders‌(‌ GSLOs)‌‌‌protect‌‌your‌‌positions‌‌by‌‌guaranteeing‌‌to‌‌exit‌‌an‌‌open‌‌position‌‌at‌‌the‌‌exact‌‌price‌‌you‌‌specify,‌‌regardless‌‌of‌‌market‌‌volatility,‌‌regardless‌‌of‌‌market‌‌gapping.‌ ‌a. GSLOs‌‌incur‌‌a‌‌fee‌‌which‌‌is‌‌only‌‌charged‌‌if‌‌the‌‌GSLO‌‌is‌‌triggered;‌ ‌b. Minimum‌d‌ istance‌‌thresholds‌‌exist‌‌where‌‌GSLOs‌‌must‌‌be‌‌placed‌‌a‌‌minimum‌‌distance‌‌from‌‌the‌‌position‌‌entry‌‌price‌ ‌c. Gap‌‌Between‌‌GSLOs‌‌exist‌‌where‌‌any‌‌additional‌‌GSLOs‌‌within‌‌the‌‌same‌‌product‌‌must‌‌be‌‌a‌‌minimum‌‌distance‌‌apart.‌ ‌d. During‌‌periods‌‌of‌‌high‌‌volatility‌‌both‌‌the‌‌minimum‌‌distance‌‌threshold‌‌and‌‌gap‌‌between‌‌GSLOs‌‌can‌‌be‌‌increased‌‌with‌‌little‌‌or‌‌not‌‌warning‌ ‌i.
This‌‌would‌‌not‌‌affect‌‌GSLOs‌‌already‌‌in‌‌the‌‌market.‌ ‌Order‌‌Bounds‌ ‌In‌‌a‌‌fast‌‌moving,‌‌illiquid‌‌market‌‌situation‌‌(the‌‌more‌‌common‌‌example‌‌of‌‌this‌‌is‌‌the‌‌few‌‌seconds‌‌after‌‌a‌‌major‌‌news‌‌announcement)‌‌you‌‌will‌‌find‌‌that‌‌the‌‌next‌‌available‌‌Bid‌‌or‌‌Ask‌‌prices‌‌may‌‌be‌‌multiple‌‌pips‌‌away‌‌from‌‌where‌‌the‌‌last‌‌Bid‌‌or‌‌Ask‌‌prices‌‌provided‌‌by‌‌OANDA.‌ ‌OANDA‌‌allows‌‌you‌‌to‌‌add‌‌upper‌‌and‌‌lower‌‌bounds‌‌to‌‌an‌‌Order‌‌which‌‌is‌‌an‌‌Order‌‌instructing‌‌OANDA‌‌to‌‌fill‌‌your‌‌Order‌‌if‌‌the‌‌Bid‌‌or‌‌Ask‌‌price‌‌falls‌‌anywhere‌‌between‌‌these‌‌two‌‌lower‌‌and‌‌upper‌‌bound‌‌Order‌‌values.‌‌ ‌Order‌‌Duration‌ ‌On‌‌the‌‌OANDA‌‌fxTrade‌‌platform‌‌we‌‌allow‌‌Orders‌‌to‌‌be‌‌open‌‌for‌‌a‌‌range‌‌of‌‌times,‌‌typically‌‌from‌‌one‌‌(1)‌‌hour‌‌to‌‌approximately‌‌100‌‌days.‌‌The‌‌MT4‌‌platform‌‌allows‌‌you‌‌to‌‌set‌‌the‌‌expiry‌‌time‌‌for‌‌your‌‌Order,‌‌typically‌‌by‌‌minute‌‌up‌‌to‌‌approximately‌‌100‌‌days.‌ ‌Order‌‌expiry‌‌times‌‌can‌‌vary‌‌due‌‌to‌‌compliance,‌‌operational‌‌or‌‌market‌‌conditions,‌‌so‌‌please‌‌check‌‌your‌‌Order‌‌at‌‌the‌‌time.‌ ‌Market‌‌Regulation‌ ‌As‌‌stated‌‌above,‌‌any‌‌of‌‌your‌‌Orders‌‌might‌‌not‌‌be‌‌implemented‌‌immediately,‌‌or‌‌at‌‌all,‌‌because‌‌of‌‌
OANDA’s‌‌compliance‌‌policies‌‌and‌‌procedures.‌‌OANDA‌‌cannot‌‌give‌‌prior‌‌notice‌‌of‌‌this‌‌and‌‌will‌‌not‌‌give‌‌
reasons‌‌for‌‌any‌‌compliance‌‌intervention‌‌nor‌‌will‌‌it‌‌be‌‌liable‌‌for‌‌that.‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

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Change‌‌Leverage‌ ‌The‌‌OANDA‌‌Trading‌‌Platform‌‌gives‌‌clients‌‌the‌‌ability‌‌to‌‌reset‌‌that‌‌level‌‌of‌‌leverage‌‌that‌‌is‌‌afforded‌‌their‌
OANDA‌‌Trading‌‌Account.‌‌Please‌‌note‌‌that‌‌leverage‌‌changes‌‌affect‌‌all‌‌open‌‌positions.‌‌Lowering‌‌leverage‌‌may‌‌result‌‌in‌‌a‌‌margin‌‌closeout.‌ ‌

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derivative‌p‌ roducts‌f‌ or‌A‌ ustralian‌r‌ etail‌c‌ lients‌i‌s‌r‌ estricted‌t‌ o‌a‌ ‌m‌ aximum‌3‌ 0:1.‌ ‌Market‌‌Conduct‌ ‌Please‌‌also‌‌note‌‌that‌‌when‌‌you‌‌consider‌‌trading‌‌with‌‌OANDA,‌‌that‌‌all‌‌market‌‌participants‌‌have‌‌a‌‌legal‌‌obligation‌‌to‌‌ensure‌‌that‌‌the‌‌markets‌‌are‌‌fair,‌‌orderly‌‌and‌‌transparent.‌‌Clients‌‌should‌‌be‌‌aware‌‌that‌‌some‌‌
practices‌‌in‌‌placing‌‌Orders‌‌can‌‌constitute‌‌market‌‌manipulation‌‌or‌‌creating‌‌a‌‌false‌‌market‌‌which‌‌is‌‌prohibited‌‌conduct‌‌under‌‌the‌‌Corporations‌‌Act.‌‌It‌‌is‌‌the‌‌Client’s‌‌responsibility‌‌to‌‌be‌‌aware‌‌of‌‌unacceptable‌‌market‌‌practices‌‌and‌‌the‌‌legal‌‌consequences‌‌of‌‌engaging‌‌in‌‌such‌‌practices.‌‌The‌‌Client‌‌may‌‌be‌‌held‌‌
accountable‌‌to‌‌regulators‌‌such‌‌as‌‌ASIC‌‌or‌‌be‌‌liable‌‌to‌‌OANDA‌‌for‌‌costs‌‌to‌‌OANDA‌‌in‌‌relation‌‌to‌‌any‌‌unacceptable‌‌trading‌‌practices‌‌of‌‌the‌‌Client‌‌which‌‌lead‌‌to‌‌the‌‌Client,‌‌OANDA‌‌or‌‌any‌‌other‌‌person‌
suffering‌‌loss‌‌or‌‌penalty.‌ ‌Margin‌‌Requirements,‌‌Calculations‌‌&‌‌Policies‌ ‌Margin‌‌Policy‌ ‌OANDA‌‌applies‌‌the‌‌following‌‌main‌‌Margin‌‌principles:‌ ‌a. Each‌‌Client‌‌is‌‌required‌‌to‌‌pay‌‌a‌‌minimum‌‌required‌‌amount‌‌of‌‌Margin‌‌known‌‌as‌‌“Initial‌‌Margin”‌‌
before‌‌issuance‌‌of‌‌contracts‌‌(or‌‌any‌‌other‌‌product‌‌traded‌‌on‌‌the‌‌Electronic‌‌Trading‌‌Platform).‌ ‌b. The‌‌Initial‌‌Margin‌‌is‌‌determined‌‌by‌‌OANDA‌‌based‌‌on‌‌a‌‌number‌‌of‌‌factors,‌‌including‌‌the‌‌Leverage‌‌
Ratio‌‌applied‌‌to‌‌an‌‌OANDA‌‌CFD‌‌or‌‌OANDA‌‌FX‌‌Contract,‌‌Margin‌‌required‌‌to‌‌hedge‌‌the‌‌underlying‌‌market,‌‌any‌‌margin‌‌which‌‌OANDA‌‌is‌‌required‌‌to‌‌pay‌‌its‌‌Hedge‌‌Counterparty‌‌(if‌‌applicable),‌‌OANDA’s‌‌risk‌‌assessment‌‌of‌‌the‌‌Client,‌‌and‌‌any‌‌Realised/Unrealised‌‌Loss‌‌or‌‌any‌‌
Realised/Unrealised‌‌Profit‌‌on‌‌your‌‌Account‌‌at‌‌any‌‌point‌‌in‌‌time.‌ ‌c. Each‌‌Client‌‌is‌‌required‌‌to‌‌pay‌‌the‌‌Initial‌‌Margin‌‌before‌‌issuance‌‌of‌‌the‌‌contracts‌‌(or‌‌any‌‌other‌‌product‌‌traded‌‌on‌‌the‌‌Electronic‌‌Trading‌‌Platform)‌‌to‌‌minimise‌‌credit‌‌risk‌‌to‌‌OANDA‌‌and‌‌that‌‌
therefore‌‌benefits‌‌all‌‌Clients.‌ ‌d. Each‌‌Client’s‌‌Account‌‌is‌‌promptly‌‌adjusted‌‌for‌‌Margin‌‌requirements‌‌according‌‌to‌‌market‌‌movement‌‌so‌‌that‌‌no‌‌Client‌‌is‌‌intentionally‌‌benefited‌‌from‌‌other‌‌Clients’‌‌trading.‌‌This‌‌could‌‌occur‌‌if,‌‌for‌‌example,‌‌the‌‌Client’s‌‌Margin‌‌requirements‌‌are‌‌not‌‌adjusted‌‌in‌‌line‌‌with‌‌market‌‌changes‌‌or‌‌the‌‌credit‌‌risk‌‌on‌‌the‌‌Client.‌ ‌Paying‌‌Margin‌ ‌As‌‌explained‌‌earlier‌‌in‌‌this‌‌PDS,‌‌you‌‌must‌‌pay‌‌the‌‌Initial‌‌Margin‌‌before‌‌the‌‌OANDA‌‌Product‌‌is‌‌issued‌‌to‌‌you.‌‌You‌‌must‌‌then‌‌maintain‌‌the‌‌minimum‌‌Margin‌‌Cover‌‌that‌‌we‌‌specify‌‌for‌‌your‌‌OANDA‌‌Trading‌‌
Account.‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

AFSL‌‌412981‌ ‌
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To‌‌pay‌‌Margin‌‌you‌‌must‌‌deposit‌‌the‌‌funds‌‌into‌‌the‌‌OANDA‌‌Client‌‌Money‌‌Trust‌‌Account.‌‌The‌‌funds‌‌are‌‌only‌‌withdrawn‌‌and‌‌paid‌‌to‌‌OANDA‌‌after‌‌there‌‌has‌‌been‌‌a‌‌Realised/Unrealised‌‌Loss‌‌on‌‌your‌‌OANDA‌‌
Trading‌‌Account‌‌(or‌‌to‌‌pay‌‌the‌‌Costs,‌‌Commissions,‌‌Fees,‌‌Charges,‌‌and‌‌Taxes‌‌as‌‌described‌‌on‌‌page‌‌14).‌ ‌
Your‌‌payment‌‌to‌‌OANDA‌‌is‌‌effective‌‌only‌‌when‌‌cleared‌‌funds‌‌are‌‌withdrawn‌‌from‌‌the‌‌OANDA‌‌Client‌‌
Moneys‌‌Trust‌‌Account;‌‌OANDA’s‌‌general‌‌policy‌‌is‌‌that‌‌it‌‌does‌‌not‌‌accept‌‌as‌‌payment‌‌just‌‌your‌‌copy‌‌of‌‌your‌‌payment‌‌instructions‌‌into‌‌the‌‌OANDA‌‌Client‌‌Money‌‌Trust‌‌Account.‌‌However,‌‌OANDA‌‌may,‌‌in‌‌its‌‌
discretion,‌‌choose‌‌to‌‌credit‌‌your‌‌OANDA‌‌Trading‌‌Account‌‌before‌‌it‌‌withdraws‌‌your‌‌money‌‌from‌‌the‌‌OANDA‌‌Client‌‌Money‌‌Trust‌‌Account.‌ ‌OANDA‌‌is‌‌authorised‌‌to‌‌withdraw‌‌funds‌‌including‌‌Margin‌‌payments‌‌which‌‌you‌‌deposit‌‌due‌‌to‌‌the‌‌Account‌‌Terms‌‌and‌‌due‌‌to‌‌your‌‌payment‌‌into‌‌the‌‌OANDA‌‌Client‌‌Moneys‌‌Trust‌‌Account‌‌serving‌‌as‌‌confirmation‌‌of‌‌your‌‌direction‌‌for‌‌the‌‌withdrawal.‌‌Do‌‌not‌‌make‌‌any‌‌payment‌‌into‌‌the‌‌OANDA‌‌Client‌‌Moneys‌‌Trust‌‌Account‌‌
unless‌‌you‌‌agree‌‌that‌‌all‌‌of‌‌those‌‌funds‌‌may‌‌be‌‌withdrawn‌‌in‌‌payment‌‌to‌‌OANDA‌‌(for‌‌Margin‌‌and‌‌for‌‌fees‌‌and‌‌charges).‌ ‌How‌‌is‌‌Margin‌‌calculated?‌ ‌OANDA‌‌will‌‌set‌‌the‌‌amount‌‌of‌‌the‌‌Initial‌‌Margin‌‌and‌‌the‌‌Margin‌‌Cover‌‌to‌‌maintain‌‌the‌‌required‌‌amount‌‌of‌‌Margin‌‌within‌‌the‌‌boundaries‌‌as‌‌set‌‌down‌‌under‌A‌ SIC‌‌(Product‌‌Intervention‌‌Order-Contracts‌‌for‌‌Difference)‌‌Instrument‌‌2020/986.‌ ‌The‌‌minimum‌‌Initial‌‌Margin‌‌set‌‌by‌‌OANDA‌‌can‌‌be‌‌dependent‌‌on‌‌the‌‌Leverage‌‌Ratio,‌‌the‌‌currency‌‌pair‌‌(in‌‌the‌‌case‌‌of‌‌an‌‌FX‌‌Contract),‌‌the‌‌type‌‌of‌‌contract‌‌selected‌‌by‌‌the‌‌Client‌‌(i.e.,‌‌an‌‌OANDA‌‌CFD‌‌or‌‌OANDA‌‌FX‌‌Contract)‌‌and‌‌calculated‌‌as‌‌a‌‌percentage‌‌of‌‌the‌‌full-face‌‌value‌‌of‌‌the‌‌contracts.‌ ‌Below‌‌is‌‌a‌‌table‌‌guide‌‌on‌‌how‌‌Initial‌‌Margin‌‌for‌‌OANDA‌‌Products‌‌is‌‌calculated:‌ ‌‌Leverage‌‌ratio‌ ‌2:1‌ ‌

5:1‌ ‌

10:1‌ ‌

20:1‌ ‌

30:1‌ ‌

Initial‌‌Margin‌ ‌50%‌ ‌

20%‌ ‌

10%‌ ‌

5%‌ ‌3.33%‌ ‌Example:‌‌‌The‌‌opening‌‌Balance‌‌of‌‌your‌‌Account‌‌is‌‌$12,000‌‌and‌‌you‌‌select‌‌a‌‌maximum‌‌Leverage‌‌Ratio‌‌of‌‌
30:1‌‌to‌‌open‌‌a‌‌position‌‌in‌‌an‌‌OANDA‌‌FX‌‌Contract‌‌so‌‌therefore‌‌the‌‌Initial‌‌Margin‌‌is‌‌3.33%‌‌of‌‌the‌‌Contract‌‌
Value.‌‌You‌‌decide‌‌to‌‌enter‌‌into‌‌a‌‌Transaction‌‌with‌‌a‌‌Contract‌‌Value‌‌of‌‌A$100,000.‌‌The‌‌Initial‌‌Margin‌‌required‌‌for‌‌this‌‌Transaction‌‌is‌‌$3,330‌‌(i.e.,‌‌3.33%‌‌of‌‌$100,000).‌ ‌Available‌‌leverage‌‌on‌‌Retail‌‌Contracts‌‌for‌‌Difference‌‌(CFDs)‌‌and‌‌FX‌‌products‌‌will‌‌be‌‌restricted‌‌as‌‌of‌‌29th‌‌
March‌‌2021‌‌as‌‌per‌‌the‌A‌ SIC‌‌(Product‌‌Intervention‌‌Order‌‌-‌‌Contracts‌‌for‌‌Difference)‌‌Instrument‌‌
2020/986‌ ‌https://www.oanda.com/au-en/trading/asic-regulatory-update-2021/‌ ‌‌‌‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

AFSL‌‌412981‌ ‌
23‌ ‌

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Leverage‌‌Ratio‌‌Limits‌ ‌Product‌ ‌Leverage‌ ‌Major‌‌Currency‌‌Pairs‌ ‌AUD,‌‌GBP,‌‌CAD,‌‌EUR,‌‌JPY,‌‌CHF,‌‌USD*‌ ‌*A‌‌pair‌‌that‌‌consists‌‌of‌‌any‌‌2‌‌of‌‌these‌‌majors.‌ ‌30:1‌ ‌

Minor‌‌Currency‌‌Pairs*‌ ‌Any‌‌pair‌‌not‌‌classified‌‌as‌‌a‌‌Major‌‌Currency‌‌Pair.‌ ‌20:1‌ ‌

Gold‌ ‌

20:1‌ ‌

Major‌‌Stock‌‌Market‌‌Index‌ ‌France‌‌40,‌‌Germany‌‌30,‌‌US‌‌Wall‌‌St‌‌30,‌‌Europe‌‌50,‌ ‌UK100,‌‌US‌‌Nas‌‌100,‌‌US‌‌Russ‌‌2000,‌‌Japan‌‌225,‌‌US‌‌SPX‌‌
500,‌ ‌
Australia‌‌200‌ ‌20:1‌ ‌

Minor‌‌Stock‌‌Market‌‌Index*‌ ‌*Any‌‌Stock‌‌Market‌‌Index‌‌not‌‌classified‌‌as‌‌a‌‌Major‌‌Stock‌ ‌Market‌‌Index.‌ ‌10:1‌ ‌

Commodities,‌‌Metals,‌‌Precious‌‌Metals‌‌(excl.‌‌Gold)‌ ‌10:1‌ ‌

Crypto-Assets‌ ‌2:1‌ ‌

Treasuries‌‌or‌‌other‌‌underlying‌‌assets‌ ‌5:1‌ ‌

Margin‌‌Closeout‌ ‌Ordinarily‌‌the‌‌Initial‌‌Margin‌‌requirements‌‌are‌‌calculated‌‌to‌‌cover‌‌the‌‌maximum‌‌expected‌‌movement‌‌in‌‌the‌‌market‌‌at‌‌any‌‌time,‌‌but‌‌the‌‌ongoing‌‌Margin‌‌Cover‌‌will‌‌change‌‌when‌‌the‌‌market‌‌changes‌‌and‌‌so‌‌might‌‌not‌‌be‌‌sufficient‌‌in‌‌all‌‌circumstances.‌‌Owing‌‌to‌‌the‌‌volatility‌‌of‌‌the‌‌market,‌‌the‌‌amount‌‌of‌‌minimum‌‌Margin‌‌
Cover‌‌to‌‌maintain‌‌your‌‌Open‌‌Positions‌‌may‌‌change‌‌after‌‌a‌‌position‌‌has‌‌been‌‌opened‌‌due‌‌to‌‌OANDA‌‌
performing‌‌a‌‌revaluation‌‌for‌‌any‌‌Realised/Unrealised‌‌Loss‌‌or‌‌Realised/Unrealised‌‌Profit‌‌on‌‌your‌‌Account.‌ ‌You‌‌should‌‌be‌‌aware‌‌that‌‌you‌‌can‌‌reach‌‌the‌‌stage‌‌of‌‌not‌‌having‌‌enough‌‌Margin‌‌Cover‌‌(because‌‌the‌‌contracts‌‌are‌‌being‌‌marked‌‌to‌‌market).‌‌In‌‌this‌‌case‌‌you‌‌have‌‌not‌‌satisfied‌‌your‌‌obligation‌‌to‌‌maintain‌‌the‌‌minimum‌‌Margin‌‌Cover.‌‌The‌‌change‌‌in‌‌valuation‌‌of‌‌your‌‌contracts‌‌by‌‌marking‌‌to‌‌market‌‌is‌‌automatic‌‌so‌‌your‌‌obligation‌‌to‌‌maintain‌‌the‌‌minimum‌‌Margin‌‌Cover‌‌will‌‌change‌‌very‌‌quickly,‌‌reflecting‌‌the‌‌rapid‌‌changes‌‌in‌‌the‌‌market‌‌values.‌ ‌The‌‌Margin‌‌Cover‌‌is‌‌linked‌‌to‌‌the‌‌Margin‌‌Closeout‌‌Level‌‌as‌‌the‌‌example‌‌below‌‌will‌‌explain.‌ ‌To‌‌satisfy‌‌the‌‌minimum‌‌Margin‌‌Cover‌‌requirements,‌‌you‌‌may:‌ ‌
●
●
●

●

Close‌‌Out‌‌existing‌‌positions‌‌to‌‌reduce‌‌your‌‌Margin‌‌Cover‌‌requirements;‌‌or‌ ‌Pay‌‌additional‌‌funds‌‌as‌‌Margin‌‌for‌‌your‌‌OANDA‌‌Trading‌‌Account;‌‌or‌ ‌Increase‌‌your‌‌leverage‌‌on‌‌an‌‌Open‌‌Position‌‌(only‌‌if‌‌your‌‌contract‌‌is‌‌not‌‌on‌‌the‌‌maximum‌‌
Leverage‌‌Ratio),‌‌however‌‌this‌‌may‌‌give‌‌rise‌‌to‌‌risks‌‌(see‌‌section‌‌5‌‌on‌‌“Other‌‌Significant‌‌Risks”);‌‌or‌ ‌A‌‌combination‌‌of‌‌the‌‌above.‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

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If‌‌these‌‌actions‌‌taken‌‌are‌‌not‌‌sufficient‌‌to‌‌maintain‌‌the‌‌minimum‌‌Margin‌‌Cover,‌‌then‌‌you‌‌risk‌‌some‌‌or‌‌all‌‌your‌‌positions‌‌being‌‌automatically‌‌Closed‌‌Out.‌‌Funding‌‌options‌‌for‌‌accounts‌‌trading‌‌in‌‌cryptocurrency‌‌
CFDs‌‌may‌‌be‌‌restricted,‌‌due‌‌to‌‌restrictions‌‌placed‌‌by‌‌payments‌‌providers,‌‌and‌‌this‌‌may‌‌have‌‌implications‌‌for‌‌the‌‌speed‌‌at‌‌which‌‌you‌‌may‌‌be‌‌able‌‌to‌‌deposit‌‌sufficient‌‌funds‌‌to‌‌meet‌‌OANDA’s‌‌Margin‌‌requirements.‌ ‌All‌‌open‌‌positions‌‌are‌‌monitored‌‌on‌‌a‌‌real-time‌‌basis‌‌intraday,‌‌to‌‌ensure‌‌changing‌‌Margin‌‌Cover‌‌is‌‌identified‌‌in‌‌a‌‌timely‌‌manner.‌ ‌This‌‌Margin‌‌practice‌‌is‌‌delivered‌‌by‌‌an‌‌OANDA‌‌automated‌‌process‌‌via‌‌the‌‌Electronic‌‌Trading‌‌Platform‌‌
where‌‌the‌‌platform‌‌automatically‌‌posts‌‌warnings‌‌to‌‌the‌‌Account‌‌if‌‌you‌‌do‌‌not‌‌maintain‌‌the‌‌Margin‌‌Cover‌‌levels.‌‌Nevertheless,‌‌the‌‌Account‌‌Terms‌‌clearly‌‌require‌‌the‌‌Client‌‌to‌‌maintain‌‌the‌‌minimum‌‌Margin‌‌Cover‌‌at‌‌all‌‌times.‌ ‌A‌‌Client‌‌must‌‌meet‌‌the‌‌Margin‌‌Cover‌‌requirements‌‌whether‌‌or‌‌not‌‌the‌‌Client‌‌has‌‌received‌‌the‌‌warnings‌‌
on‌‌the‌‌Electronic‌‌Trading‌‌Platform.‌‌In‌‌addition,‌‌OANDA‌‌seeks‌‌to‌‌provide‌‌you‌‌with‌‌only‌‌one‌‌daily‌‌margin‌‌
warning‌‌alert‌‌in‌‌a‌‌form‌‌of‌‌email‌‌notification‌‌at‌‌6am‌‌AEDT‌‌/‌‌7am‌‌AEST,‌‌to‌‌facilitate‌‌your‌‌ability‌‌to‌‌meet‌‌them.‌‌However,‌‌please‌‌note‌‌that‌‌certain‌‌market‌‌conditions‌‌or‌‌events‌‌may‌‌trigger‌‌extreme‌‌volatility,‌‌requiring‌‌urgent‌‌funds‌‌to‌‌be‌‌applied‌‌to‌‌retain‌‌your‌‌open‌‌positions.‌ ‌Nonetheless,‌‌we‌‌reserve‌‌our‌‌full‌‌rights‌‌to‌‌immediately‌‌close‌‌positions‌‌in‌‌relation‌‌to‌‌which‌‌Margin‌‌Cover‌‌requirements‌‌have‌‌not‌‌been‌‌met,‌‌in‌‌order‌‌to‌‌protect‌‌against‌‌exposure‌‌to‌‌further‌‌losses‌‌in‌‌the‌‌positions.‌ ‌Under‌‌the‌‌Account‌‌Terms,‌‌your‌‌obligation‌‌to‌‌pay‌‌Margin‌‌arises‌‌from‌‌the‌‌time‌‌you‌‌have‌‌an‌‌Open‌‌Position.‌‌If‌‌the‌‌market‌‌moves‌‌resulting‌‌in‌‌an‌‌increase‌‌to‌‌the‌‌Margin‌‌Cover‌‌obligations,‌‌or‌‌OANDA‌‌increases‌‌the‌‌Margin‌‌Cover,‌‌you‌‌immediately‌‌owe‌‌the‌‌increased‌‌amount‌‌of‌‌the‌‌Margin‌‌Cover,‌‌regardless‌‌of‌‌if‌‌or‌‌when‌‌we‌‌contact‌‌you‌‌to‌‌pay‌‌more‌‌Margin.‌‌Your‌‌obligation‌‌to‌‌maintain‌‌the‌‌minimum‌‌required‌‌Margin‌‌remains‌‌
always,‌‌whether‌‌or‌‌not‌‌we‌‌contact‌‌you‌‌and‌‌whether‌‌or‌‌not‌‌you‌‌log‌‌into‌‌your‌‌Account.‌ ‌Example:‌‌‌Here‌‌is‌‌an‌‌example‌‌of‌‌how‌‌the‌‌Margin‌‌close‌‌out‌‌process‌‌works:‌ ‌You‌‌deposit‌‌$8,000‌‌in‌‌the‌‌OANDA‌‌Client‌‌Moneys‌‌Trust‌‌Account‌‌and‌‌by‌‌this,‌‌you‌‌pay‌‌OANDA‌‌for‌‌your‌‌
Account‌‌to‌‌be‌‌credited‌‌with‌‌$8,000.‌‌You‌‌enter‌‌into‌‌a‌‌contract‌‌and‌‌OANDA‌‌requires‌‌you‌‌to‌‌pay‌‌Initial‌‌
Margin‌‌of‌‌$8,000‌‌thereby‌‌fully‌‌utilising‌‌the‌‌Balance‌‌of‌‌your‌‌Account.‌‌At‌‌this‌‌point,‌‌assume‌‌the‌‌Account‌‌
Value‌‌is‌‌at‌‌$8,000.‌ ‌A‌‌short‌‌time‌‌later,‌‌there‌‌are‌‌fluctuations‌‌in‌‌the‌‌market‌‌such‌‌that‌‌your‌‌Account‌‌Value‌‌falls‌‌and‌‌is‌‌at‌5‌ 2.5%‌‌of‌‌the‌‌Margin‌‌Cover‌,‌‌i.e.,‌‌your‌‌Account‌‌Value‌‌is‌‌$4,200‌‌(i.e.,‌‌52.5%‌‌of‌‌$8,000).‌‌As‌‌a‌‌result,‌‌you‌‌will‌‌
receive‌‌a‌‌warning‌‌from‌‌OANDA‌‌that‌‌your‌‌Account‌‌Value‌‌is‌‌close‌‌to‌‌the‌‌Margin‌‌Closeout‌‌Level.‌‌In‌‌this‌‌example,‌‌the‌‌Margin‌‌Closeout‌‌Level‌‌is‌‌when‌‌the‌‌Account‌‌Value‌‌falls‌‌to‌‌$4,000‌‌(or‌‌less).‌ ‌Unfortunately,‌‌the‌‌market‌‌continues‌‌to‌‌fluctuate‌‌unfavorably‌‌such‌‌that‌‌your‌‌Account‌‌Value‌‌is‌‌now‌‌at‌5‌ 0%‌‌or‌‌less‌‌of‌‌the‌‌Margin‌‌Cover‌,‌‌i.e.,‌‌your‌‌Account‌‌Value‌‌is‌‌$4,000‌‌or‌‌less‌‌(i.e.,‌‌50%‌‌of‌‌$8,000).‌A‌ s‌‌a‌‌result,‌‌the‌‌Margin‌‌Closeout‌‌Level‌‌will‌‌be‌‌automatically‌‌triggered‌‌resulting‌‌in‌‌all‌‌your‌‌Open‌‌Positions‌‌
being‌‌Closed‌‌Out.‌ ‌Please‌‌note‌‌that‌‌there‌‌is‌‌no‌‌obligation‌‌to‌‌give‌‌you‌‌warnings.‌‌We‌‌may‌‌Close‌‌Out‌‌your‌‌Open‌‌Position‌‌any‌‌time‌‌and‌‌before‌‌the‌‌Margin‌‌Closeout‌‌Level,‌‌for‌‌example‌‌if‌‌the‌‌market‌‌rapidly‌‌changes.‌ ‌In‌‌short,‌‌the‌‌Margin‌‌Cover‌‌is‌‌the‌‌amount‌‌of‌‌Margin‌‌required‌‌in‌‌your‌‌Account‌‌so‌‌that‌‌the‌‌Margin‌‌Cover‌‌does‌‌not‌‌reach‌‌the‌‌Margin‌‌Closeout‌‌Level.‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

AFSL‌‌412981‌ ‌
25‌ ‌

‌
We‌‌do‌‌not‌‌represent,‌‌warrant,‌‌undertake‌‌or‌‌guarantee‌‌that‌‌we‌‌will‌‌Close‌‌Out‌‌your‌‌Open‌‌Positions‌‌once‌‌
your‌‌Account‌‌Value‌‌reaches‌‌the‌‌Margin‌‌Closeout‌‌Level‌‌or‌‌that‌‌your‌‌Open‌‌Positions‌‌will‌‌be‌‌Closed‌‌Out‌‌at‌‌any‌‌particular‌‌level‌‌or‌‌at‌‌any‌‌particular‌‌time‌‌since‌‌it‌‌is‌‌automatically‌‌done‌‌by‌‌the‌‌Electronic‌‌Trading‌‌
Platform.‌‌You‌‌are‌‌responsible‌‌for‌‌losses‌‌that‌‌you‌‌may‌‌incur,‌‌despite‌‌us‌‌having‌‌the‌‌right‌‌to‌‌Close‌‌Out‌‌your‌‌position‌‌before‌‌the‌‌losses‌‌were‌‌incurred.‌‌You‌‌should‌‌not‌‌wait‌‌for,‌‌or‌‌rely‌‌on,‌‌warning‌‌notices‌‌from‌‌us.‌ ‌It‌‌is‌‌your‌‌responsibility‌‌to‌‌pay‌‌your‌‌Margin‌‌and‌‌to‌‌maintain‌‌the‌‌Margin‌‌Cover,‌‌so‌‌please‌‌keep‌‌in‌‌mind‌‌the‌‌possibility‌‌of‌‌delays‌‌in‌‌the‌‌banking‌‌and‌‌payments‌‌systems.‌ ‌Please‌‌contact‌‌OANDA‌‌for‌‌further‌‌information‌‌on‌‌the‌‌current‌‌Margin‌‌Closeout‌‌Level‌‌that‌‌applies‌‌to‌‌you.‌‌
OANDA‌‌may‌‌change‌‌the‌‌Margin‌‌Closeout‌‌Level‌‌at‌‌any‌‌time.‌ ‌Your‌‌Margin‌‌defaults‌
If‌‌you‌‌do‌‌not‌‌ensure‌‌that‌‌you‌‌maintain‌‌the‌‌level‌‌of‌‌Margin‌‌Cover,‌‌some‌‌or‌‌all‌‌your‌‌positions‌‌may‌‌be‌‌
Closed‌‌Out‌‌and‌‌the‌‌resulting‌‌Realised‌‌Loss‌‌deducted‌‌from‌‌any‌‌proceeds.‌‌Any‌‌losses‌‌resulting‌‌from‌‌
Closing‌‌Out‌‌your‌‌Open‌‌Positions‌‌will‌‌be‌‌debited‌‌from‌‌your‌‌OANDA‌‌Trading‌‌Account.‌‌If‌‌you‌‌do‌‌not‌‌comply‌‌with‌‌your‌‌obligations,‌‌all‌‌your‌‌Open‌‌Positions‌‌can‌‌be‌‌Closed‌‌Out‌‌automatically‌‌as‌‌explained‌‌earlier‌‌in‌‌this‌‌
PDS.‌ ‌
It‌‌is‌‌your‌‌responsibility‌‌to‌‌pay‌‌your‌‌Margin‌‌on‌‌time‌‌and‌‌in‌‌cleared‌‌funds,‌‌so‌‌please‌‌keep‌‌in‌‌mind‌‌the‌‌possibility‌‌of‌‌delays‌‌in‌‌the‌‌banking‌‌and‌‌payments‌‌systems.‌‌If‌‌your‌‌payment‌‌is‌‌not‌‌credited‌‌by‌‌OANDA‌‌by‌‌the‌‌time‌‌you‌‌are‌‌required‌‌to‌‌have‌‌the‌‌necessary‌‌Margin,‌‌you‌‌could‌‌lose‌‌some‌‌or‌‌all‌‌your‌‌positions.‌‌You‌‌should‌‌maintain‌‌a‌‌prudent‌‌level‌‌of‌‌Margin‌‌and‌‌make‌‌payments‌‌in‌‌sufficient‌‌time‌‌to‌‌be‌‌credited‌‌to‌‌your‌‌
Account.‌‌Please‌‌see‌‌“Margin‌‌risk”‌‌on‌‌page‌‌30‌‌of‌‌Section‌‌5.‌ ‌As‌‌at‌‌the‌‌date‌‌of‌‌this‌‌PDS,‌‌Accounts‌‌can‌‌be‌‌funded‌‌by‌‌credit‌‌card,‌‌electronic‌‌funds‌‌transfer,‌‌PayID,‌‌
BPAY®‌‌and‌‌PayPal®.‌‌Other‌‌payment‌‌methods‌‌may‌‌be‌‌made‌‌available‌‌at‌‌a‌‌later‌‌stage.‌‌We‌‌will‌‌notify‌‌
Clients‌‌of‌‌the‌‌latest‌‌available‌‌payment‌‌methods‌‌by‌‌posting‌‌this‌‌information‌‌on‌‌our‌‌website.‌ ‌Opening‌‌&‌‌Closing‌‌OANDA‌‌Products‌ ‌The‌‌terms‌‌of‌‌each‌‌OANDA‌‌Product‌‌contract‌‌are‌‌agreed‌‌between‌‌you‌‌and‌‌OANDA‌‌before‌‌entering‌‌into‌‌
the‌‌Transaction.‌ ‌Before‌‌you‌‌enter‌‌into‌‌an‌‌OANDA‌‌Product‌‌contract,‌‌OANDA‌‌will‌‌require‌‌you‌‌to‌‌have‌‌sufficient‌‌Account‌‌
Value‌‌(see‌‌the‌‌Glossary‌‌in‌‌Section‌‌8)‌‌to‌‌satisfy‌‌the‌‌Initial‌‌Margin‌‌requirements‌‌for‌‌the‌‌relevant‌‌number‌‌of‌‌contracts.‌ ‌A‌‌position‌‌is‌‌opened‌‌by‌‌either‌‌buying‌‌or‌‌selling‌‌an‌‌OANDA‌‌Product.‌ ‌You‌‌go‌‌“long”‌‌when‌‌you‌‌buy‌‌a‌‌contract‌‌corresponding‌‌with‌‌buying‌‌the‌‌Underlying‌‌Security‌‌in‌‌the‌‌expectation‌‌that‌‌the‌‌price‌‌of‌‌the‌‌Underlying‌‌Security‌‌to‌‌which‌‌the‌‌contract‌‌is‌‌referable‌‌will‌‌increase,‌‌which‌‌would‌‌have‌‌the‌‌effect‌‌that‌‌the‌‌price‌‌of‌‌the‌‌contract‌‌to‌‌Close‌‌Out‌‌would‌‌increase.‌ ‌You‌‌go‌‌“short”‌‌when‌‌you‌‌sell‌‌a‌‌contract‌‌corresponding‌‌with‌‌selling‌‌the‌‌Underlying‌‌Security‌‌in‌‌the‌‌expectation‌‌that‌‌the‌‌price‌‌of‌‌the‌‌Underlying‌‌Security‌‌to‌‌which‌‌the‌‌contract‌‌is‌‌referable‌‌will‌‌decrease,‌‌which‌‌would‌‌have‌‌the‌‌effect‌‌that‌‌the‌‌price‌‌of‌‌the‌‌contract‌‌will‌‌decline.‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

AFSL‌‌412981‌ ‌
26‌ ‌

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When‌‌you‌‌Close‌‌Out‌‌an‌‌Open‌‌Position,‌‌you‌‌are‌‌entering‌‌into‌‌a‌‌new‌‌position‌‌of‌‌the‌‌same‌‌type‌‌and‌‌number‌‌of‌‌contracts‌‌opposite‌‌to‌‌your‌‌Open‌‌Position.‌‌You‌‌are‌‌liable‌‌for‌‌the‌‌costs,‌‌fees‌‌and‌‌charges‌‌as‌‌described‌‌in‌‌this‌‌PDS‌‌(see‌‌Section‌‌3).‌‌You‌‌should‌‌be‌‌aware‌‌that‌‌your‌‌investment‌‌might‌‌suffer‌‌a‌‌loss,‌‌
depending‌‌on‌‌the‌‌value‌‌of‌‌your‌‌contract‌‌at‌‌termination‌‌compared‌‌with‌‌the‌‌total‌‌cost‌‌of‌‌your‌‌investment‌‌up‌‌to‌‌the‌‌time‌‌of‌‌termination.‌ ‌Dealing‌ ‌Price‌‌quotes‌‌for‌‌dealing‌‌in‌‌our‌‌OANDA‌‌Products‌‌are‌‌indicative‌‌only‌‌and‌‌so‌‌are‌‌subject‌‌to‌‌the‌‌actual‌‌available‌‌price‌‌at‌‌the‌‌time‌‌of‌‌execution‌‌of‌‌your‌‌Order.‌‌While‌‌OANDA‌‌endeavours‌‌to‌‌execute‌‌your‌‌Order‌‌to‌‌the‌‌best‌‌of‌‌its‌‌ability,‌‌there‌‌is‌‌no‌‌assurance‌‌that‌‌the‌‌Order‌‌will‌‌be‌‌able‌‌to‌‌be‌‌executed‌‌at‌‌the‌‌price‌‌of‌‌your‌‌Order.‌ ‌Quotes‌‌will‌‌be‌‌given,‌‌and‌‌Transactions‌‌made‌‌during‌‌the‌‌open‌‌market‌‌hours‌‌of‌‌the‌‌relevant‌‌market‌‌on‌‌which‌‌the‌‌Underlying‌‌Securities‌‌are‌‌traded.‌‌We‌‌may‌‌be‌‌able‌‌to‌‌provide‌‌quotes‌‌during‌‌suspended‌‌hours‌‌of‌‌the‌‌relevant‌‌market,‌‌but‌‌you‌‌may‌‌not‌‌be‌‌able‌‌to‌‌make‌‌a‌‌Transaction‌‌during‌‌this‌‌time.‌ ‌OANDA‌‌may‌‌at‌‌any‌‌time‌‌in‌‌its‌‌discretion‌‌without‌‌prior‌‌notice‌‌impose‌‌limits‌‌on‌‌our‌‌products‌‌in‌‌respect‌‌of‌‌Underlying‌‌Securities.‌‌Generally,‌‌OANDA‌‌would‌‌only‌‌do‌‌this‌‌if‌‌the‌‌market‌‌for‌‌the‌‌Underlying‌‌Security‌‌has‌‌become‌‌illiquid‌‌or‌‌its‌‌trading‌‌status‌‌has‌‌been‌‌suspended‌‌or‌‌there‌‌is‌‌some‌‌significant‌‌disruption‌‌to‌‌the‌‌markets,‌‌including‌‌trading‌‌facilities.‌ ‌You‌‌should‌‌be‌‌aware‌‌that‌‌the‌‌market‌‌prices‌‌and‌‌other‌‌market‌‌data‌‌which‌‌you‌‌view‌‌through‌‌the‌‌OANDA‌‌
Trading‌‌Platforms‌‌or‌‌other‌‌facilities‌‌which‌‌you‌‌arrange‌‌yourself‌‌may‌‌not‌‌be‌‌current‌‌or‌‌may‌‌not‌‌exactly‌‌
correspond‌‌with‌‌the‌‌prices‌‌for‌‌the‌‌OANDA‌‌Products.‌ ‌You‌‌may‌‌be‌‌able‌‌to‌‌access‌‌your‌‌OANDA‌‌Trading‌‌Platforms‌‌outside‌‌of‌‌the‌‌hours‌‌when‌‌Orders‌‌may‌‌be‌‌accepted;‌‌however,‌‌Orders‌‌will‌‌only‌‌be‌‌accepted‌‌and‌‌executed‌‌when‌‌the‌‌relevant‌‌market‌‌is‌‌open‌‌and‌‌the‌‌level‌‌or‌‌price‌‌of‌‌the‌‌Order‌‌is‌‌reached.‌ ‌Even‌‌though‌‌you‌‌may‌‌be‌‌able‌‌to‌‌place‌‌Orders‌‌outside‌‌of‌‌the‌‌hours‌‌when‌‌Orders‌‌may‌‌be‌‌accepted,‌‌if‌‌you‌‌have‌‌insufficient‌‌account‌‌margin‌‌when‌‌your‌‌Order‌‌becomes‌‌due‌‌to‌‌be‌‌executed,‌‌it‌‌will‌‌be‌‌rejected‌‌so‌‌you‌‌should‌‌ensure‌‌that‌‌you‌‌have‌‌sufficient‌‌account‌‌margin‌‌at‌‌the‌‌time‌‌of‌‌placing‌‌these‌‌Orders.‌ ‌Pricing‌‌&‌‌Liquidity‌ ‌OANDA‌‌quotes‌‌a‌‌lower‌‌price‌‌and‌‌a‌‌higher‌‌price‌‌at‌‌which‌‌you‌‌can‌‌place‌‌your‌‌Order.‌‌This‌‌is‌‌referred‌‌to‌‌as‌‌the‌‌Bid/Ask‌‌spread.‌‌The‌‌higher‌‌quoted‌‌price‌‌is‌‌the‌‌indication‌‌of‌‌the‌‌price‌‌you‌‌can‌‌buy‌‌the‌‌contract.‌‌The‌‌
lower‌‌quoted‌‌price‌‌is‌‌the‌‌indication‌‌of‌‌the‌‌price‌‌at‌‌which‌‌you‌‌can‌‌sell‌‌the‌‌contract.‌ ‌OANDA’s‌‌Bid/Ask‌‌prices‌‌are‌‌set‌‌by‌‌OANDA‌‌and‌‌so‌‌these‌‌prices‌‌may‌‌not‌‌be‌‌the‌‌same‌‌as‌‌those‌‌quoted‌‌in‌‌the‌‌relevant‌‌underlying‌‌market‌‌but‌‌OANDA‌‌aims‌‌to‌‌give‌‌competitive‌‌pricing‌‌but‌‌please‌‌be‌‌aware‌‌that‌‌
OANDA‌‌does‌‌not‌‌act‌‌as‌‌your‌‌agent‌‌to‌‌find‌‌you‌‌the‌‌best‌‌prices.‌ ‌Also,‌‌the‌‌available‌‌pricing‌‌may‌‌be‌‌limited‌‌by‌‌tick‌‌sizes,‌‌minimum‌‌steps,‌‌depending‌‌on‌‌the‌‌general‌‌market‌‌rules‌‌for‌‌trading‌‌the‌‌Underlying‌‌Security‌‌or‌‌OANDA’s‌‌hedging,‌‌so,‌‌depending‌‌on‌‌the‌‌product‌‌you‌‌choose,‌‌your‌‌Order‌‌conversions‌‌to‌‌enter/exit‌‌a‌‌position‌‌might‌‌have‌‌to‌‌be‌‌in‌‌minimum‌‌increments‌‌of‌‌pricing‌‌before‌‌it‌‌can‌‌be‌‌accepted‌‌and‌‌executed.‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

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The‌‌execution‌‌of‌‌your‌‌Order‌‌always‌‌depends‌‌on‌‌the‌‌“l‌iquidity”‌‌‌that’s‌‌available‌‌at‌‌all‌‌price‌‌levels.‌‌
Although‌‌you‌‌may‌‌be‌‌looking‌‌to‌‌execute‌‌at‌‌a‌‌certain‌‌price,‌‌the‌‌market‌‌may‌‌have‌‌moved‌‌significantly‌‌or‌‌“‌liquidity”‌‌‌may‌‌be‌‌exhausted,‌‌in‌‌which‌‌case‌‌your‌‌Order‌‌would‌‌be‌‌filled‌‌at‌‌the‌‌next‌‌best‌‌price,‌‌Volume‌‌
Weighted‌‌Average‌‌Price‌‌(VWAP),‌‌the‌‌fair‌‌market‌‌value‌‌or‌‌in‌‌some‌‌circumstances‌‌may‌‌be‌‌rejected.‌
OANDA‌‌advises‌‌the‌‌use‌‌of‌‌the‌‌“Price‌‌Signals”‌‌function‌‌on‌‌the‌‌fxTrade‌‌mobile‌‌app‌‌to‌‌track‌‌your‌‌live‌‌orders‌‌activity.‌‌ ‌We‌‌aim‌‌to‌‌provide‌‌you‌‌with‌‌the‌‌best‌‌pricing‌‌available‌‌and‌‌to‌‌fill‌‌all‌‌Orders‌‌at‌‌the‌‌rate‌‌you’ve‌‌requested.‌‌But‌‌there‌‌are‌‌times‌‌when‌‌Orders‌‌may‌‌be‌‌subject‌‌to‌‌what’s‌‌known‌‌as‌“‌ slippage”‌,‌‌because‌‌of‌‌an‌‌increase‌‌in‌‌volatility‌‌or‌‌volume.‌‌This‌‌happens‌‌most‌‌often‌‌during‌‌fundamental‌‌news‌‌events‌‌or‌“‌ gapping”‌‌‌in‌‌the‌‌markets,‌‌which‌‌create‌‌conditions‌‌where‌‌Orders‌‌are‌‌difficult‌‌to‌‌execute‌‌because‌‌of‌‌extreme‌‌price‌‌
movements.‌ ‌Pricing‌‌Model‌ ‌You‌‌may‌‌only‌‌enter/exit‌‌OANDA‌‌Product‌‌contracts‌‌by‌‌using‌‌OANDA’s‌‌prices.‌‌OANDA‌‌offers‌‌prices‌‌based‌‌on‌‌its‌‌market‌‌making‌‌pricing‌‌model‌‌where‌‌OANDA‌‌chooses‌‌the‌‌prices‌‌made‌‌available‌‌to‌‌Clients.‌ ‌OANDA‌‌may‌‌at‌‌any‌‌time‌‌choose‌‌to‌‌make‌‌hedge‌‌contracts,‌‌fully‌‌or‌‌partly‌‌or‌‌not‌‌at‌‌all,‌‌whether‌‌at‌‌or‌‌around‌‌the‌‌same‌‌time‌‌as‌‌it‌‌issues‌‌the‌‌contracts‌‌to‌‌you‌‌by‌‌making‌‌a‌‌corresponding‌‌hedge‌‌contract‌‌with‌‌its‌‌
Hedge‌‌Counterparty.‌ ‌Generally,‌‌the‌‌prices‌‌of‌‌OANDA‌‌Product‌‌contracts‌‌are‌‌set‌‌on‌‌the‌‌OANDA‌‌Trading‌‌Platforms‌‌to‌‌give‌‌
competitive‌‌pricing‌‌but‌‌you‌‌should‌‌be‌‌aware‌‌that‌‌OANDA‌‌is‌‌acting‌‌as‌P‌ rincipal‌‌‌to‌‌you‌‌and‌‌so‌‌is‌‌responsible‌‌for‌‌setting‌‌the‌‌prices‌‌of‌‌opening‌‌and‌‌closing‌‌contracts‌‌and‌‌OANDA‌‌does‌‌not‌‌act‌‌as‌‌your‌‌
Agent‌‌‌to‌‌find‌‌you‌‌the‌‌best‌‌prices.‌ ‌OANDA‌‌CFDs‌‌–‌‌Corporate‌‌Actions‌ ‌Constituent‌‌stocks‌‌of‌‌an‌‌index‌‌will‌‌periodically‌‌pay‌‌dividends‌‌to‌‌shareholders.‌‌When‌‌they‌‌do,‌‌this‌‌impacts‌‌
the‌‌overall‌‌price‌‌of‌‌the‌‌index,‌‌causing‌‌it‌‌to‌‌drop‌‌by‌‌a‌‌certain‌‌amount.‌‌We‌‌may‌‌make‌‌dividend‌‌adjustments‌‌
if‌‌a‌‌dividend‌‌is‌‌scheduled‌‌to‌‌be‌‌paid‌‌to‌‌the‌‌holders‌‌of‌‌the‌‌underlying‌‌instrument.‌‌These‌‌adjustments‌‌are‌‌normally‌‌made‌‌on‌‌the‌‌ex-dividend‌‌date.‌ ‌How‌‌would‌‌dividend‌‌adjustments‌‌work‌‌on‌‌open‌‌positions‌‌of‌‌index‌‌CFDs?‌ ‌When‌‌there’s‌‌a‌‌dividend‌‌payment‌‌this‌‌is‌‌normally‌‌reflected‌‌in‌‌the‌‌index‌‌CFD‌‌price.‌‌If‌‌you‌‌have‌‌an‌‌open‌‌position‌‌at‌‌the‌‌time‌‌of‌‌a‌‌dividend‌‌adjustment,‌‌we’ll‌‌ensure‌‌that‌‌there‌‌is‌‌no‌‌material‌‌impact‌‌on‌‌you‌‌by‌‌either‌‌crediting‌‌or‌‌debiting‌‌your‌‌account‌‌with‌‌the‌‌same‌‌amount‌‌that‌‌your‌‌unrealised‌‌profit‌‌and‌‌loss‌‌has‌‌been‌‌
impacted.‌ ‌OANDA’s‌‌MetaTrader‌‌4‌‌(MT4)‌‌Hedging‌‌Compatibility‌‌Product‌‌simulates‌‌the‌‌trading‌‌of‌‌multiple‌‌long‌‌and‌‌short‌‌positions‌‌in‌‌the‌‌same‌‌instrument‌‌over‌‌the‌‌OANDA‌‌MT4‌‌platform.‌‌No‌‌actual‌‌hedging‌‌of‌‌exposure‌‌
results‌‌from‌‌use‌‌of‌‌the‌‌Product.‌‌Instead,‌‌when‌‌a‌‌“hedge”‌‌transaction‌‌is‌‌opened‌‌in‌‌the‌‌opposite‌‌direction‌‌of‌‌an‌‌existing‌‌position,‌‌a‌‌net‌‌position‌‌results‌‌from‌‌the‌‌“hedge”‌‌transaction‌‌rather‌‌than‌‌two‌‌open‌‌positions.‌‌
This‌‌netting‌‌of‌‌positions‌‌will‌‌be‌‌apparent‌‌on‌‌the‌‌fxTrade‌‌platform‌‌but‌‌will‌‌appear‌‌to‌‌be‌‌two‌‌open‌‌positions‌‌
in‌‌OANDA’s‌‌MT4‌‌platform,‌‌when‌‌in‌‌fact‌‌only‌‌a‌‌single‌‌net‌‌open‌‌position‌‌will‌‌result.‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

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Because‌‌of‌‌this‌‌hedging‌‌simulation,‌‌the‌‌OANDA‌‌MT4‌‌platform‌‌may‌‌display‌‌inaccurate‌‌information‌‌with‌‌regards‌‌to‌‌the‌‌actual‌‌Account‌‌Balance,‌‌Net‌‌Asset‌‌Value,‌‌and‌‌Realised/Unrealised‌‌Losses‌‌and‌‌Realised/Unrealised‌‌Profits‌‌(Unrealised‌‌Profit‌‌&‌‌Loss)‌‌of‌‌the‌‌Account.‌‌In‌‌addition,‌‌the‌‌OANDA‌‌MT4‌‌
platform‌‌may‌‌provide‌‌inaccurate‌‌information‌‌about‌‌impending‌‌Margin‌‌Closeouts‌‌or‌‌potential‌‌Interest‌‌
payments‌‌and/or‌‌charges.‌ ‌Your‌‌Counterparty‌‌Risk‌‌on‌‌OANDA‌ ‌When‌‌you‌‌deal‌‌in‌‌OANDA‌‌Product‌‌contracts,‌‌you‌‌have‌‌a‌‌counterparty‌‌risk‌‌on‌‌OANDA.‌‌An‌‌element‌‌of‌‌counterparty‌‌risk‌‌is‌‌“credit‌‌risk”,‌‌so‌‌you‌‌should‌‌consider‌‌your‌‌credit‌‌risk‌‌on‌‌OANDA‌‌having‌‌the‌‌financial‌‌
resources‌‌at‌‌the‌‌time‌‌to‌‌pay‌‌you‌‌the‌‌amounts‌‌it‌‌owes‌‌you.‌‌Your‌‌potential‌‌risk‌‌on‌‌OANDA‌‌is‌‌affected‌‌by‌‌
OANDA‌‌not‌‌always‌‌or‌‌not‌‌fully‌‌hedging‌‌its‌‌contracts‌‌as‌‌part‌‌of‌‌its‌‌market‌‌making‌‌model.‌ ‌You‌‌have‌‌credit‌‌risk‌‌on‌‌OANDA‌‌when‌‌your‌‌Account‌‌has‌‌a‌‌net‌‌credit‌‌balance‌‌made‌‌up‌‌from‌‌the‌‌amounts‌‌
credited‌‌as‌‌Margin,‌‌the‌‌unrealised‌‌value‌‌of‌‌the‌‌contracts,‌‌other‌‌amounts‌‌credited‌‌to‌‌your‌‌Account‌‌(from‌‌
closed‌‌positions‌‌or‌‌Finance‌‌Charges‌‌credited‌‌to‌‌your‌‌Account),‌‌other‌‌positions‌‌posted‌‌to‌‌your‌‌Account‌‌(from‌‌your‌‌other‌‌trading‌‌using‌‌the‌‌OANDA‌‌Trading‌‌Platforms),‌‌less‌‌fees‌‌and‌‌charges‌‌and‌‌the‌‌minimum‌‌required‌‌Margin.‌ ‌Your‌‌credit‌‌risk‌‌on‌‌OANDA‌‌is‌‌reduced‌‌when‌‌OANDA‌‌pays‌‌funds‌‌into‌‌the‌‌OANDA‌‌client‌‌segregated‌‌trust‌‌
account‌‌following‌‌a‌‌Realised/Unrealised‌‌Profit,‌‌because‌‌those‌‌funds‌‌are‌‌held‌‌beneficially‌‌for‌‌you‌‌(instead‌‌of‌‌you‌‌being‌‌an‌‌unsecured‌‌creditor‌‌for‌‌that‌‌same‌‌amount).‌ ‌Your‌‌credit‌‌risk‌‌on‌‌OANDA‌‌depends‌‌on‌‌the‌‌overall‌‌solvency‌‌of‌‌OANDA,‌‌which‌‌is‌‌affected‌‌by‌‌OANDA’s‌‌risk‌‌management.‌ ‌Your‌‌credit‌‌risk‌‌on‌‌OANDA‌‌is‌‌managed‌‌and‌‌reduced‌‌by‌‌OANDA‌‌making‌‌the‌‌payments‌‌into‌‌the‌‌OANDA‌‌
Client‌‌Moneys‌‌Trust‌‌Account‌‌for‌‌your‌‌Account‌‌and‌‌by‌‌OANDA‌‌applying‌‌its‌‌risk‌‌management‌‌policy‌‌and‌‌margin‌‌policy‌‌designed‌‌to‌‌reduce‌‌risk‌‌to‌‌OANDA‌‌and‌‌therefore‌‌benefit‌‌all‌‌its‌‌clients.‌ ‌
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Section‌‌5‌‌–‌‌Significant‌‌Risks‌ ‌Using‌‌our‌‌products‌‌involves‌‌several‌‌significant‌‌risks.‌‌You‌‌should‌‌seek‌‌independent‌‌advice‌‌and‌‌consider‌‌carefully‌‌whether‌‌our‌‌products‌‌are‌‌appropriate‌‌for‌‌you‌‌given‌‌your‌‌experience,‌‌financial‌‌
objectives,‌‌needs‌‌and‌‌circumstances.‌ ‌Key‌‌risks‌ ‌Loss‌‌from‌‌leverage‌ ‌The‌‌contracts‌‌have‌‌leverage‌‌which‌‌can‌‌lead‌‌to‌‌large‌‌losses‌‌as‌‌well‌‌as‌‌large‌‌gains.‌‌The‌‌degree‌‌of‌leverage‌‌in‌‌our‌‌products‌‌can‌‌work‌‌against‌‌you‌‌as‌‌well‌‌as‌‌for‌‌you.‌‌The‌‌leveraged‌‌nature‌‌of‌‌the‌‌OANDA‌‌
contracts‌‌gives‌‌a‌‌moderate‌‌to‌‌high‌‌risk‌‌of‌‌a‌‌loss‌‌larger‌‌than‌‌the‌‌amounts‌‌you‌‌pay‌‌OANDA‌‌as‌‌Margin.‌‌It‌‌
can‌‌also‌‌cause‌‌volatile‌‌fluctuations‌‌in‌‌the‌‌Margin‌‌Cover‌‌requirements.‌‌You‌‌can‌‌minimise‌‌the‌‌risk‌‌of‌‌losses‌‌on‌‌positions‌‌by‌‌monitoring‌‌your‌‌Open‌‌Positions‌‌and‌‌Closing‌‌Out‌‌the‌‌positions‌‌before‌‌losses‌‌arise.‌ ‌Client‌‌monies‌‌are‌‌withdrawn‌‌to‌‌pay‌‌OANDA‌ ‌The‌‌money‌‌which‌‌you‌‌pay‌‌into‌‌the‌‌OANDA‌‌Client‌‌Moneys‌‌Trust‌‌Account‌‌may‌‌be‌‌withdrawn‌‌to‌‌pay‌‌
OANDA‌‌moneys‌‌to‌‌which‌‌it‌‌is‌‌entitled.‌‌This‌‌includes‌‌amounts‌‌for‌‌any‌‌Realised/Unrealised‌‌Losses‌‌as‌‌well‌‌as‌‌for‌‌any‌‌fees,‌‌charges‌‌and‌‌costs.‌‌Those‌‌moneys‌‌withdrawn‌‌to‌‌pay‌‌OANDA‌‌are‌‌OANDA’s‌‌moneys‌‌(and‌‌are‌‌not‌‌held‌‌for‌‌you),‌‌reducing‌‌the‌‌amount‌‌of‌‌moneys‌‌held‌‌in‌‌the‌‌OANDA‌‌client‌‌money‌‌trust‌‌account‌‌held‌‌
beneficially‌‌for‌‌you.‌ ‌Margin‌‌risk‌ ‌You‌‌must‌‌be‌‌able‌‌to‌‌pay‌‌to‌‌OANDA‌‌the‌‌amount‌‌of‌‌required‌‌Margin‌‌as‌‌and‌‌when‌‌required,‌‌otherwise‌‌some‌‌or‌‌all‌‌of‌‌your‌‌Transactions‌‌may‌‌be‌‌Closed‌‌Out‌‌without‌‌notice‌‌to‌‌you.‌‌Margin‌‌Cover‌‌requirements‌‌are‌‌highly‌‌likely‌‌to‌‌change‌‌continuously,‌‌in‌‌line‌‌with‌‌market‌‌movements‌‌in‌‌the‌‌Underlying‌‌Security.‌‌You‌‌should‌‌consider‌‌there‌‌is‌‌a‌‌high‌‌risk‌‌of‌‌Margin‌‌Cover‌‌requirements‌‌changing‌‌and‌‌at‌‌times‌‌very‌‌rapidly.‌‌There‌‌is‌‌a‌‌moderate‌‌to‌‌high‌‌risk‌‌that‌‌if‌‌the‌‌market‌‌value‌‌of‌‌the‌‌Underlying‌‌Security‌‌moves‌‌rapidly‌‌against‌‌you,‌‌you‌‌will‌‌be‌‌required‌‌to‌‌pay‌‌more‌‌Margin‌‌without‌‌OANDA‌‌giving‌‌you‌‌notice‌‌of‌‌that.‌‌You‌‌can‌‌minimise‌‌your‌‌risk‌‌of‌‌losing‌‌your‌‌positions‌‌after‌‌failing‌‌to‌‌meet‌‌Margin‌‌Cover‌‌obligations‌‌by‌‌carefully‌‌selecting‌‌the‌‌type‌‌and‌‌amount‌‌of‌‌contracts‌‌to‌‌suit‌‌your‌‌needs,‌‌having‌‌risk‌‌management‌‌tools‌‌in‌‌place‌‌(such‌‌as‌‌placing‌‌
guaranteed‌‌stop‌‌loss‌‌orders,‌‌stop‌‌loss‌‌orders,‌‌limit‌‌orders‌‌or‌‌any‌‌other‌‌Order‌‌permitted‌‌by‌‌OANDA),‌‌
monitoring‌‌the‌‌positions,‌‌maintaining‌‌a‌‌prudent‌‌level‌‌of‌‌cash‌‌balance‌‌in‌‌your‌‌Account‌‌and‌‌providing‌‌
sufficient‌‌Margin‌‌within‌‌the‌‌time‌‌required‌‌by‌‌OANDA.‌‌Funding‌‌options‌‌for‌‌accounts‌‌trading‌‌in‌‌cryptocurrency‌‌CFDs‌‌may‌‌be‌‌restricted,‌‌due‌‌to‌‌restrictions‌‌placed‌‌by‌‌payments‌‌providers,‌‌and‌‌this‌‌may‌‌have‌‌implications‌‌for‌‌the‌‌speed‌‌at‌‌which‌‌you‌‌may‌‌be‌‌able‌‌to‌‌deposit‌‌sufficient‌‌funds‌‌to‌‌meet‌‌OANDA’s‌‌
Margin‌‌requirements.‌ ‌Please‌‌see‌‌page‌‌23‌‌for‌‌further‌‌information‌‌about‌‌Margin.‌ ‌Foreign‌‌exchange‌‌risk‌ ‌Foreign‌‌currency‌‌conversions‌‌required‌‌for‌‌your‌‌Account‌‌(see‌‌page‌‌15,‌‌Section‌‌3‌ ‌for‌‌a‌‌further‌‌description)‌‌can‌‌expose‌‌you‌‌to‌‌foreign‌‌exchange‌‌risks‌‌between‌‌the‌‌time‌‌the‌‌Transaction‌‌is‌‌entered‌‌into‌‌and‌‌the‌‌time‌‌the‌‌relevant‌‌conversion‌‌of‌‌currencies‌‌occurs.‌‌Foreign‌‌exchange‌‌markets‌‌can‌‌change‌‌rapidly.‌‌This‌‌
exposes‌‌you‌‌to‌‌potentially‌‌adverse‌‌changes‌‌in‌‌the‌‌value‌‌of‌‌your‌‌Account‌‌which‌‌can‌‌be‌‌large‌‌(depending‌‌
on‌‌foreign‌‌exchange‌‌rates)‌‌and‌‌volatile.‌‌This‌‌will‌‌directly‌‌affect‌‌the‌‌value‌‌of‌‌a‌‌position.‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

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Counterparty‌‌risk‌‌on‌‌OANDA‌ ‌You‌‌have‌‌the‌‌risk‌‌that‌‌OANDA‌‌may‌‌not‌‌meet‌‌its‌‌obligations‌‌to‌‌you‌‌under‌‌the‌‌contracts.‌‌The‌‌contracts‌‌are‌‌not‌‌Exchange‌‌traded‌‌so‌‌you‌‌need‌‌to‌‌consider‌‌the‌‌credit‌‌and‌‌related‌‌risks‌‌you‌‌have‌‌on‌‌OANDA.‌‌OANDA‌‌
believes‌‌that‌‌your‌‌counterparty‌‌risk‌‌on‌‌OANDA‌‌is‌‌low,‌‌especially‌‌due‌‌to‌‌its‌‌feature‌‌of‌‌paying‌‌moneys‌‌into‌‌
the‌‌OANDA‌‌Client‌‌Moneys‌‌Trust‌‌Account‌‌if‌‌there‌‌is‌‌any‌‌Realised/Unrealised‌‌Profit‌‌on‌‌your‌‌Account‌‌and‌‌due‌‌to‌‌its‌‌Margin‌‌policy‌‌and‌‌risk‌‌management‌‌which‌‌it‌‌implements‌‌for‌‌the‌‌benefit‌‌of‌‌Clients.‌‌Another‌‌reason‌‌OANDA‌‌believes‌‌that‌‌your‌‌counterparty‌‌risk‌‌is‌‌low‌‌is‌‌the‌‌additional‌‌feature‌‌of‌‌OANDA‌‌not‌‌using‌‌client‌‌moneys‌‌to‌‌hedge‌‌any‌‌of‌‌its‌‌positions‌‌with‌‌its‌‌Hedge‌‌Counterparty.‌‌Those‌‌positions‌‌are‌‌funded‌‌from‌‌
OANDA’s‌‌operating‌‌account.‌‌You‌‌can‌‌minimise‌‌your‌‌counterparty‌‌risk‌‌on‌‌OANDA‌‌by‌‌limiting‌‌the‌‌amount‌‌you‌‌pay‌‌OANDA,‌‌trading‌‌prudently‌‌and‌‌requesting‌‌payment‌‌to‌‌you‌‌of‌‌any‌‌surplus‌‌in‌‌your‌‌Account‌‌which‌‌
is‌‌not‌‌required‌‌for‌‌prudent‌‌Margin‌‌management,‌‌however‌‌this‌‌may‌‌increase‌‌your‌‌Margin‌‌risk‌‌resulting‌‌in‌‌all‌‌of‌‌your‌‌positions‌‌being‌‌Closed‌‌Out.‌‌Please‌‌see‌‌heading‌‌“Your‌‌Counterparty‌‌Risk‌‌on‌‌OANDA”‌‌on‌‌page‌‌29,‌‌Section‌‌4.‌ ‌Other‌‌significant‌‌risks‌ ‌You‌‌should‌‌consider‌‌these‌‌other‌‌significant‌‌risks‌‌involved‌‌in‌‌our‌‌products:‌ ‌Market‌‌risk‌ ‌Financial‌‌markets‌‌can‌‌change‌‌rapidly;‌‌they‌‌are‌‌speculative‌‌and‌‌volatile.‌‌Prices‌‌of‌‌currencies‌‌depend‌‌on‌‌a‌‌number‌‌of‌‌factors‌‌including‌‌but‌‌not‌‌limited‌‌to,‌‌for‌‌example,‌‌commodity‌‌prices‌‌or‌‌central‌‌bank‌‌decisions,‌‌
interest‌‌rates,‌‌demand‌‌and‌‌supply‌‌and‌‌actions‌‌of‌‌governments.‌‌Our‌‌products‌‌are‌‌highly‌‌speculative‌‌and‌‌volatile.‌‌There‌‌is‌‌a‌‌high‌‌risk‌‌that‌‌market‌‌prices‌‌may‌‌move‌‌such‌‌that‌‌the‌‌Contract‌‌Value‌‌of‌‌the‌‌position‌‌on‌‌closing‌‌can‌‌be‌‌significantly‌‌less‌‌than‌‌the‌‌amount‌‌you‌‌invested‌‌in‌‌them.‌‌There‌‌is‌‌no‌‌guarantee‌‌or‌‌assurance‌‌that‌‌you‌‌will‌‌make‌‌profits,‌‌or‌‌not‌‌make‌‌losses,‌‌or‌‌that‌‌unrealised‌‌profits‌‌or‌‌losses‌‌will‌‌remain‌‌unchanged.‌‌You‌‌can‌‌reduce‌‌your‌‌risk‌‌by‌‌understanding‌‌the‌‌market‌‌relevant‌‌to‌‌the‌‌contracts,‌‌monitoring‌‌
your‌‌positions‌‌carefully‌‌and‌‌closing‌‌your‌‌Open‌‌Positions‌‌before‌‌unacceptable‌‌losses‌‌arise.‌ ‌OTC‌‌market‌ ‌The‌‌products‌‌offered‌‌by‌‌OANDA‌‌are‌‌derivatives‌‌and‌‌are‌‌not‌‌covered‌‌by‌‌the‌‌rules‌‌for‌‌Exchange-traded‌‌
contracts.‌‌For‌‌example,‌‌trading‌‌on‌‌the‌‌ASX‌‌is‌‌governed‌‌by‌‌rules‌‌applicable‌‌to‌‌brokers‌‌and‌‌generally‌‌has‌‌the‌‌benefit‌‌of‌‌a‌‌guarantee‌‌system‌‌known‌‌as‌‌the‌‌National‌‌Guarantee‌‌Fund‌‌which‌‌provides‌‌protection‌‌from‌‌
fraud‌‌or‌‌misconduct‌‌by‌‌brokers‌‌in‌‌connection‌‌with‌‌certain‌‌ASX‌‌trades.‌‌The‌‌ASX‌‌rules‌‌and‌‌the‌‌National‌‌
Guarantee‌‌Fund‌‌do‌‌not‌‌apply‌‌to‌‌trading‌‌in‌‌our‌‌contracts.‌‌Over-the-counter‌‌derivatives,‌‌such‌‌as‌‌the‌‌contracts,‌‌by‌‌their‌‌nature‌‌may‌‌not‌‌at‌‌times‌‌be‌‌liquid‌‌investments‌‌in‌‌themselves.‌‌If‌‌you‌‌want‌‌to‌‌exit‌‌the‌‌position,‌‌you‌‌rely‌‌on‌‌OANDA’s‌‌ability‌‌to‌‌Close‌‌Out‌‌at‌‌the‌‌time‌‌you‌‌wish,‌‌which‌‌might‌‌not‌‌match‌‌the‌‌liquidity‌‌or‌‌market‌‌price‌‌of‌‌the‌‌Underlying‌‌Security.‌‌You‌‌can‌‌reduce‌‌your‌‌risk‌‌by‌‌carefully‌‌reading‌‌this‌‌
PDS,‌‌the‌‌Account‌‌Terms‌‌and‌‌taking‌‌independent‌‌advice‌‌on‌‌the‌‌legal‌‌and‌‌financial‌‌aspects‌‌relevant‌‌to‌‌you.‌ ‌
Market‌‌disruptions‌ ‌A‌‌market‌‌disruption‌‌may‌‌mean‌‌that‌‌you‌‌may‌‌be‌‌unable‌‌to‌‌deal‌‌in‌‌our‌‌products‌‌when‌‌desired,‌‌and‌‌you‌‌may‌‌suffer‌‌a‌‌loss‌‌as‌‌a‌‌result‌‌of‌‌that.‌‌This‌‌is‌‌because‌‌the‌‌market‌‌disruption‌‌events‌‌which‌‌affect‌‌the‌‌Underlying‌‌Security‌‌will‌‌also‌‌affect‌‌the‌‌contract‌‌positions‌‌on‌‌the‌‌same‌‌or‌‌very‌‌similar‌‌basis.‌‌Examples‌‌of‌‌disruptions‌‌include‌‌the‌‌“crash”‌‌of‌‌a‌‌computer‌‌based‌‌trading‌‌system,‌‌a‌‌fire‌‌or‌‌other‌‌Exchange‌‌emergency,‌‌
OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

AFSL‌‌412981‌ ‌
31‌ ‌

‌
or‌‌an‌‌Exchange‌‌regulatory‌‌body‌‌declaring‌‌an‌‌undesirable‌‌situation‌‌has‌‌developed‌‌in‌‌relation‌‌to‌‌particular‌‌series‌‌of‌‌contracts‌‌or‌‌a‌‌particular‌‌trade,‌‌and‌‌suspends‌‌trading‌‌in‌‌those‌‌contracts‌‌or‌‌cancels‌‌that‌‌trade.‌ ‌You‌‌can‌‌attempt‌‌to‌‌minimise‌‌the‌‌effect‌‌of‌‌market‌‌disruptions‌‌by‌‌obtaining‌‌information‌‌released‌‌by‌‌the‌‌market‌‌relevant‌‌to‌‌the‌‌position‌‌and‌‌taking‌‌action‌‌after‌‌the‌‌event‌‌as‌‌appropriate‌‌(if‌‌any)‌‌to‌‌the‌‌position‌‌
held,‌‌such‌‌as‌‌Closing‌‌Out‌‌because‌‌the‌‌values‌‌have‌‌significantly‌‌changed‌‌since‌‌before‌‌the‌‌event.‌ ‌Orders‌‌and‌‌gapping‌ ‌It‌‌may‌‌become‌‌difficult‌‌or‌‌impossible‌‌for‌‌you‌‌to‌‌Close‌‌Out‌‌a‌‌position.‌‌This‌‌can,‌‌for‌‌example,‌‌happen‌‌when‌‌there‌‌is‌‌a‌‌significant‌‌change‌‌in‌‌the‌‌Contract‌‌Value‌‌over‌‌a‌‌short‌‌period.‌‌There‌‌is‌‌a‌‌moderate‌‌to‌‌high‌‌risk‌‌of‌‌this‌‌occurring.‌‌OANDA’s‌‌ability‌‌to‌‌Close‌‌Out‌‌a‌‌position‌‌depends‌‌on‌‌the‌‌market‌‌for‌‌the‌‌Underlying‌‌Security.‌‌
Stop‌‌Loss‌‌Orders‌‌(and‌‌other‌‌Order‌‌types)‌‌may‌‌not‌‌always‌‌be‌‌filled‌‌and,‌‌even‌‌if‌‌placed,‌‌may‌‌not‌‌limit‌‌your‌‌losses‌‌to‌‌the‌‌amount‌‌specified‌‌in‌‌the‌‌Order,‌‌since‌‌they‌‌are‌‌not‌‌guaranteed‌‌that‌‌there‌‌will‌‌be‌‌no‌‌loss.‌‌You‌‌should‌‌consider‌‌placing‌‌Stop‌‌Loss‌‌Orders‌‌or‌‌other‌‌Orders‌‌that‌‌may‌‌limit‌‌your‌‌losses‌‌but‌‌also‌‌closely‌‌monitor‌‌your‌‌Account‌‌and‌‌the‌‌relevant‌‌market‌‌in‌‌case‌‌the‌‌Stop‌‌Loss‌‌Order‌‌is‌‌not‌‌fully‌‌filled‌‌or‌‌filled‌‌at‌‌all‌‌and‌‌you‌‌need‌‌to‌‌take‌‌further‌‌action‌‌to‌‌limit‌‌your‌‌losses.‌‌For‌‌further‌‌information,‌‌see‌‌section‌‌on‌‌“Stop‌‌Loss‌‌
Orders”.‌ ‌Auto‌‌liquidation‌ ‌OANDA‌‌may‌‌without‌‌prior‌‌notice‌‌to‌‌you‌‌liquidate‌‌some‌‌or‌‌all‌‌of‌‌your‌‌Open‌‌Positions‌‌if‌‌the‌‌Account‌‌Value‌‌balance‌‌reaches‌‌or‌‌falls‌‌below‌‌the‌‌Margin‌‌Closeout‌‌Level‌‌applicable‌‌to‌‌your‌‌Account.‌‌This‌‌can‌‌generate‌‌realised‌‌losses‌‌in‌‌your‌‌Account.‌‌OANDA‌‌does‌‌not‌‌assure‌‌you‌‌that‌‌OANDA‌‌will‌‌actually‌‌act‌‌on‌‌this‌‌right,‌‌at‌‌any‌‌time‌‌or‌‌in‌‌respect‌‌of‌‌all‌‌or‌‌any‌‌of‌‌your‌‌Open‌‌Positions.‌‌It‌‌is‌‌not‌‌something‌‌that‌‌you‌‌should‌‌rely‌‌upon‌‌to‌‌manage‌‌your‌‌risk‌‌and‌‌your‌‌obligation‌‌to‌‌maintain‌‌Margin‌‌Cover.‌‌The‌‌more‌‌basic‌‌risks‌‌to‌‌you‌‌are‌‌that‌‌you‌‌fail‌‌to‌‌manage‌‌your‌‌own‌‌Account‌‌by‌‌maintaining‌‌adequate‌‌Margin‌‌Cover,‌‌you‌‌fail‌‌to‌‌monitor‌‌your‌‌Open‌‌
Positions,‌‌you‌‌(wrongly)‌‌wait‌‌for‌‌or‌‌rely‌‌on‌‌warning‌‌notices,‌‌you‌‌(wrongly)‌‌rely‌‌on‌‌OANDA‌‌liquidating‌‌your‌‌Open‌‌Positions‌‌or‌‌you‌‌fail‌‌to‌‌manage‌‌your‌‌Open‌‌Positions‌‌before‌‌the‌‌Account‌‌Value‌‌balance‌‌reaches‌‌or‌‌falls‌‌below‌‌the‌‌Margin‌‌Closeout‌‌Level‌‌applicable‌‌to‌‌your‌‌Account.‌ ‌You‌‌can‌‌manage‌‌the‌‌risk‌‌of‌‌OANDA‌‌liquidating‌‌some‌‌or‌‌all‌‌of‌‌your‌‌Open‌‌Positions,‌‌or‌‌the‌‌risk‌‌of‌‌you‌wrongly‌‌relying‌‌on‌‌OANDA‌‌to‌‌do‌‌this,‌‌by‌‌carefully‌‌monitoring‌‌your‌‌Open‌‌Positions,‌‌placing‌‌and‌‌maintaining‌‌prudent‌‌Orders‌‌(including‌‌stop‌‌loss‌‌Orders)‌‌and‌‌managing‌‌your‌‌Open‌‌Positions‌‌before‌‌the‌‌Account‌‌Value‌‌balance‌‌reaches‌‌or‌‌falls‌‌below‌‌the‌‌Margin‌‌Closeout‌‌Level‌‌applicable‌‌to‌‌your‌‌Account.‌‌
Please‌‌note‌‌that‌‌although‌‌OANDA‌‌may‌‌allow‌‌you‌‌to‌‌increase‌‌your‌‌leverage‌‌on‌‌an‌‌Open‌‌Position‌‌(only‌‌if‌‌your‌‌contract‌‌is‌‌not‌‌on‌‌the‌‌maximum‌‌Leverage‌‌Ratio),‌‌this‌‌may‌‌give‌‌rise‌‌to‌‌a‌‌risk‌‌that‌‌you‌‌may‌‌be‌‌required‌‌to‌‌pay‌‌more‌‌Margin‌‌to‌‌OANDA‌‌as‌‌a‌‌result‌‌of‌‌increasing‌‌your‌‌leverage‌‌at‌‌short‌‌or‌‌no‌‌notice.‌ ‌Electronic‌‌trading‌‌platform‌ ‌You‌‌are‌‌responsible‌‌for‌‌the‌‌means‌‌by‌‌which‌‌you‌‌access‌‌the‌‌Electronic‌‌Trading‌‌Platforms‌‌or‌‌your‌‌other‌‌contact‌‌with‌‌OANDA.‌‌If‌‌you‌‌are‌‌unable‌‌to‌‌access‌‌the‌‌Electronic‌‌Trading‌‌Platforms,‌‌it‌‌may‌‌mean‌‌that‌‌you‌‌are‌‌unable‌‌to‌‌trade‌‌in‌‌our‌‌OTC‌‌contracts‌‌(including‌‌Closing‌‌them‌‌Out)‌‌or‌‌you‌‌might‌‌not‌‌be‌‌aware‌‌of‌‌the‌‌current‌‌Margin‌‌requirements‌‌and‌‌so‌‌you‌‌may‌‌suffer‌‌loss‌‌as‌‌a‌‌result.‌‌OANDA‌‌may‌‌also‌‌suspend‌‌the‌‌operation‌‌of‌‌the‌‌Electronic‌‌Trading‌‌Platforms‌‌or‌‌any‌‌part‌‌of‌‌them,‌‌without‌‌prior‌‌notice‌‌to‌‌you.‌‌Although‌‌this‌‌is‌‌considered‌‌to‌‌be‌‌a‌‌low‌‌risk‌‌since‌‌it‌‌would‌‌usually‌‌only‌‌happen‌‌in‌‌unforeseen‌‌and‌‌extreme‌‌market‌‌situations,‌‌OANDA‌‌has‌‌discretion‌‌in‌‌determining‌‌when‌‌to‌‌do‌‌this.‌‌If‌‌the‌‌Electronic‌‌Trading‌‌Platform‌‌is‌‌suspended,‌‌you‌‌may‌‌have‌‌difficulty‌‌contacting‌‌OANDA,‌‌you‌‌may‌‌not‌‌be‌‌able‌‌to‌‌contact‌‌OANDA‌‌at‌‌all,‌‌or‌‌

OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

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your‌‌Orders‌‌may‌‌not‌‌be‌‌able‌‌to‌‌be‌‌executed‌‌at‌‌prices‌‌quoted‌‌to‌‌you.‌‌There‌‌is‌‌a‌‌moderate‌‌to‌‌high‌‌risk‌‌that‌‌
OANDA‌‌imposes‌‌volume‌‌limits‌‌on‌‌Client‌‌accounts‌‌or‌‌filters‌‌on‌‌trading,‌‌which‌‌could‌‌prevent‌‌or‌‌delay‌
execution‌‌of‌‌your‌‌Orders,‌‌at‌‌your‌‌risk.‌‌You‌‌have‌‌no‌‌recourse‌‌against‌‌OANDA‌‌in‌‌relation‌‌to‌‌the‌‌availability‌‌or‌‌otherwise‌‌of‌‌the‌‌Electronic‌‌Trading‌‌Platforms,‌‌nor‌‌for‌‌their‌‌errors‌‌and‌‌software.‌‌Please‌‌review‌‌the‌‌terms‌‌and‌‌any‌‌guidance‌‌material‌‌for‌‌any‌‌particular‌‌online‌‌trading‌‌platform.‌ ‌Market‌ ‌The‌‌rules‌‌of‌‌the‌‌relevant‌‌market‌‌(if‌‌any)‌‌or‌‌Exchange‌‌govern‌‌the‌‌trading‌‌in‌‌the‌‌Underlying‌‌Security‌‌and‌‌so‌‌may‌‌indirectly‌‌affect‌‌the‌‌dealing‌‌in‌‌the‌‌contracts.‌‌All‌‌of‌‌the‌‌rules‌‌(if‌‌any)‌‌of‌‌each‌‌relevant‌‌market‌‌may‌‌be‌‌relevant‌‌to‌‌the‌‌contracts,‌‌so‌‌you‌‌should‌‌consider‌‌those‌‌rules.‌‌The‌‌details‌‌of‌‌those‌‌rules‌‌are‌‌outside‌‌the‌‌control‌‌of‌‌OANDA‌‌and‌‌they‌‌may‌‌change‌‌at‌‌any‌‌time‌‌and‌‌without‌‌notice‌‌to‌‌you.‌‌Your‌‌dealings‌‌may‌‌be‌affected‌‌by‌‌OANDA‌‌restricting,‌‌delaying‌‌or‌‌adjusting‌‌your‌‌Transactions‌‌(including‌‌Closing‌‌Out‌‌your‌‌positions‌‌due‌‌to‌‌OANDA‌‌exercising‌‌its‌‌discretions‌‌for‌‌the‌‌purpose‌‌of‌‌complying‌‌with‌‌its‌‌duties,‌‌including‌‌in‌‌relation‌‌to‌‌market‌‌conduct‌‌regardless‌‌of‌‌whether‌‌there‌‌are‌‌any‌‌Exchange‌‌rules‌‌governing‌‌any‌‌Underlying‌‌
Securities.‌‌This‌‌may‌‌limit‌‌or‌‌prevent‌‌your‌‌profits‌‌or‌‌cause‌‌you‌‌loss,‌‌without‌‌OANDA‌‌being‌‌liable‌‌for‌‌that.‌ ‌Conflicts‌ ‌Trading‌‌with‌‌OANDA‌‌for‌‌its‌‌OTC‌‌contracts‌‌carries‌‌an‌‌automatic‌‌risk‌‌of‌‌actual‌‌conflicts‌‌of‌‌interests‌‌
because‌‌OANDA‌‌is‌‌acting‌‌as‌‌principal‌‌in‌‌its‌‌positions‌‌with‌‌you‌‌and‌‌OANDA‌‌sets‌‌the‌‌price‌‌of‌‌the‌‌contracts‌‌
and‌‌also‌‌because‌‌it‌‌might‌‌be‌‌transacting‌‌with‌‌other‌‌persons,‌‌at‌‌different‌‌prices‌‌or‌‌rates,‌‌or‌‌OANDA‌‌might‌‌
be‌‌trading‌‌with‌‌market‌‌participants.‌‌The‌‌policy‌‌used‌‌by‌‌OANDA‌‌is‌‌that‌‌as‌‌principal‌‌it‌‌issues‌‌the‌‌contract‌‌to‌‌you‌‌based‌‌on‌‌the‌‌price‌‌it‌‌gives‌‌you,‌‌not‌‌by‌‌acting‌‌as‌‌broker‌‌to‌‌you.‌‌OANDA‌‌obtains‌‌its‌‌price‌‌by‌‌dealing‌‌with‌‌its‌‌own‌‌Hedge‌‌Counterparty.‌‌You‌‌can‌‌reduce‌‌the‌‌risks‌‌to‌‌you‌‌of‌‌unfavourable‌‌pricing‌‌or‌‌opaque‌‌pricing‌‌(meaning‌‌it‌‌is‌‌unclear‌‌how‌‌it‌‌relates‌‌to‌‌the‌‌underlying‌‌market)‌‌by‌‌monitoring‌‌the‌‌contracts’‌‌pricing‌‌and‌‌by‌‌monitoring‌‌the‌‌underlying‌‌market.‌‌The‌‌other‌‌trading‌‌activities‌‌of‌‌OANDA,‌‌such‌‌as‌‌acting‌‌as‌‌broker‌‌to‌‌its‌‌Clients,‌‌are‌‌conducted‌‌without‌‌reference‌‌to‌‌OANDA’s‌‌dealing‌‌in‌‌our‌‌products‌‌with‌‌you.‌‌OANDA‌‌may‌‌make‌‌those‌‌transactions‌‌as‌‌principal‌‌or‌‌as‌‌agent‌‌and‌‌may‌‌do‌‌so‌‌to‌‌hedge‌‌its‌‌position‌‌and‌‌with‌‌the‌‌intention‌‌of‌‌making‌‌a‌‌profit.‌ ‌Valuations‌ ‌The‌‌products‌‌are‌‌valued‌‌by‌‌OANDA.‌‌Typically,‌‌this‌‌is‌‌by‌‌direct‌‌reference‌‌to‌‌(but‌‌not‌‌automatically‌‌solely‌‌
derived‌‌from)‌‌the‌‌market‌‌value‌‌(or,‌‌if‌‌relevant,‌‌index‌‌level)‌‌of‌‌the‌‌relevant‌‌Underlying‌‌Security‌‌on‌‌the‌relevant‌‌market‌‌which‌‌in‌‌turn‌‌affects‌‌the‌‌price‌‌quoted‌‌by‌‌any‌‌relevant‌‌Hedge‌‌Counterparty‌‌to‌‌OANDA.‌‌OANDA‌‌does‌‌not‌‌commit‌‌to‌‌providing‌‌prices‌‌directly‌‌from‌‌a‌‌market.‌‌If‌‌the‌‌market‌‌fails‌‌to‌‌provide‌‌that‌‌
information‌‌(for‌‌example,‌‌due‌‌to‌‌a‌‌failure‌‌in‌‌trading‌‌systems‌‌or‌‌data‌‌information‌‌service)‌‌or‌‌trading‌‌in‌‌the‌‌Underlying‌‌Security‌‌is‌‌halted‌‌or‌‌suspended,‌‌OANDA‌‌determines‌‌its‌‌value.‌‌Due‌‌to‌‌the‌‌nature‌‌of‌‌our‌‌products,‌‌in‌‌common‌‌with‌‌industry‌‌practice‌‌for‌‌such‌‌financial‌‌products,‌‌OANDA’s‌‌discretion‌‌is‌‌unfettered‌‌and‌‌so‌‌has‌‌no‌‌condition‌‌or‌‌qualification.‌‌While‌‌there‌‌are‌‌no‌‌specific‌‌limits‌‌on‌‌OANDA’s‌‌discretions,‌‌
OANDA‌‌must‌‌comply‌‌with‌‌its‌‌obligations‌‌as‌‌a‌‌financial‌‌services‌‌licensee‌‌to‌‌act‌‌efficiently,‌‌honestly‌‌and‌‌fairly.‌‌You‌‌therefore‌‌have‌‌the‌‌risk‌‌of‌‌relying‌‌on‌‌whatever‌‌value‌‌is‌‌determined‌‌by‌‌OANDA‌‌in‌‌the‌‌circumstances‌‌permitted‌‌by‌‌the‌‌Account‌‌Terms.‌ ‌Regulatory‌‌bodies‌ ‌A‌‌Client‌‌may‌‌incur‌‌losses‌‌that‌‌are‌‌caused‌‌by‌‌matters‌‌outside‌‌the‌‌control‌‌of‌‌OANDA.‌‌For‌‌example,‌‌actions‌‌
taken‌‌by‌‌a‌‌regulatory‌‌authority‌‌exercising‌‌its‌‌powers‌‌during‌‌a‌‌market‌‌emergency‌‌may‌‌ultimately‌‌result‌‌in‌‌

OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

AFSL‌‌412981‌ ‌
33‌ ‌

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losses‌‌to‌‌the‌‌Client‌‌by‌‌reason‌‌of‌‌the‌‌effect‌‌of‌‌those‌‌actions‌‌on‌‌the‌‌Underlying‌‌Security‌‌and‌‌so‌‌the‌‌terms‌‌of‌‌the‌‌Client’s‌‌contract.‌‌A‌‌regulatory‌‌authority‌‌can,‌‌in‌‌extreme‌‌situations,‌‌suspend‌‌trading‌‌or‌‌alter‌‌the‌‌price‌‌at‌‌which‌‌a‌‌position‌‌is‌‌settled,‌‌which‌‌might‌‌affect‌‌the‌‌Underlying‌‌Security‌‌for‌‌the‌‌Client’s‌‌position.‌ ‌OANDA’s‌‌powers‌‌on‌‌default,‌‌indemnities‌‌and‌‌limitations‌‌on‌‌liability‌ ‌If‌‌you‌‌fail‌‌to‌‌pay,‌‌or‌‌provide‌‌currency‌‌for,‌‌amounts‌‌payable‌‌to‌‌OANDA‌‌or‌‌fail‌‌to‌‌perform‌‌any‌‌obligation‌‌under‌‌your‌‌Transactions,‌‌OANDA‌‌has‌‌extensive‌‌powers‌‌under‌‌the‌‌Account‌‌Terms‌‌to‌‌take‌‌steps‌‌to‌‌protect‌‌its‌‌position.‌‌For‌‌example,‌‌OANDA‌‌has‌‌the‌‌power‌‌to‌‌Close‌‌Out‌‌positions‌‌and‌‌to‌‌determine‌‌the‌‌rates‌‌of‌‌interest‌‌it‌‌charges.‌‌Additionally,‌‌under‌‌the‌‌Account‌‌Terms‌‌you‌‌agree‌‌to‌‌indemnify‌‌OANDA‌‌for‌‌certain‌‌losses‌‌and‌‌liabilities,‌‌including,‌‌for‌‌example,‌‌in‌‌default‌‌scenarios.‌‌You‌‌should‌‌read‌‌the‌‌Account‌‌Terms‌‌
carefully‌‌to‌‌understand‌‌these‌‌matters.‌ ‌Operational‌‌risk‌ ‌There‌‌is‌‌always‌‌operational‌‌risk‌‌in‌‌the‌‌contracts.‌‌For‌‌example,‌‌disruptions‌‌in‌‌operational‌‌processes‌‌such‌‌as‌‌communications,‌‌computers‌‌and‌‌computer‌‌networks,‌‌or‌‌external‌‌events‌‌may‌‌lead‌‌to‌‌delays‌‌in‌‌the‌‌execution‌‌and‌‌settlement‌‌of‌‌a‌‌transaction.‌‌We‌‌are‌‌not‌‌liable‌‌to‌‌you‌‌if‌‌losses‌‌arise‌‌owing‌‌to‌‌delays,‌‌errors‌‌
or‌‌failures‌‌in‌‌operational‌‌processes‌‌outside‌‌our‌‌control,‌‌including‌‌but‌‌not‌‌limited‌‌to‌‌faults‌‌in‌‌the‌‌online‌‌
trading‌‌platform‌‌or‌‌in‌‌the‌‌provision‌‌of‌‌data‌‌by‌‌third‌‌parties.‌
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OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

AFSL‌‌412981‌ ‌
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Section‌‌6‌‌–‌‌General‌‌Information‌ ‌Discretions‌ ‌OANDA‌‌has‌‌discretions‌‌under‌‌the‌‌Account‌‌Terms‌‌which‌‌can‌‌affect‌‌your‌‌Orders‌‌and‌‌positions.‌‌You‌‌do‌‌not‌‌have‌‌any‌‌power‌‌to‌‌direct‌‌how‌‌we‌‌exercise‌‌our‌‌discretions.‌ ‌When‌‌exercising‌‌our‌‌discretions,‌‌we‌‌will‌‌comply‌‌with‌‌our‌‌legal‌‌obligations‌‌as‌‌the‌‌holder‌‌of‌‌an‌‌Australian‌‌
Financial‌‌Services‌‌Licence.‌‌We‌‌will‌‌have‌‌regard‌‌to‌‌our‌‌policies‌‌and‌‌to‌‌managing‌‌all‌‌risks‌‌(including‌‌but‌‌not‌‌limited‌‌to‌‌financial,‌‌credit‌‌and‌‌legal‌‌risks)‌‌for‌‌ourselves‌‌and‌‌all‌‌our‌‌Clients,‌‌our‌‌obligations‌‌to‌‌our‌‌counterparties,‌‌market‌‌conditions‌‌and‌‌our‌‌reputation.‌‌We‌‌will‌‌try‌‌to‌‌act‌‌reasonably‌‌in‌‌exercising‌‌our‌‌discretion,‌‌but‌‌we‌‌are‌‌not‌‌obliged‌‌to‌‌act‌‌in‌‌your‌‌best‌‌interests‌‌or‌‌to‌‌avoid‌‌or‌‌minimise‌‌a‌‌loss‌‌in‌‌your‌‌
Account.‌ ‌Our‌‌significant‌‌discretions‌‌are:‌ ‌
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whether‌‌to‌‌accept‌‌your‌‌Order‌‌(including‌‌to‌‌Close‌‌Out‌‌a‌‌position)‌‌or‌‌to‌‌amend‌‌it;‌ ‌any‌‌risk‌‌limits‌‌or‌‌other‌‌limits‌‌we‌‌impose‌‌on‌‌your‌‌Account‌‌or‌‌your‌‌trading;‌ ‌determining‌‌Margin‌‌requirements,‌‌especially‌‌the‌‌amount‌‌of‌‌Initial‌‌Margin,‌‌minimum‌‌Margin‌‌requirements,‌‌the‌‌time‌‌to‌‌meet‌‌any‌‌changed‌‌Margin‌‌Cover;‌ ‌determining‌‌values‌‌of‌‌Underlying‌‌Securities‌‌(for‌‌opening‌‌and‌‌closing‌‌positions‌‌and‌‌for‌‌determining‌‌Margin);‌ ‌setting‌‌Bid‌‌prices‌‌and‌‌Ask‌‌prices;‌‌and‌ ‌closing‌‌your‌‌positions‌‌and‌‌setting‌‌the‌‌Closing‌‌Value.‌ ‌You‌‌should‌‌consider‌‌the‌‌significant‌‌risks‌‌that‌‌arise‌‌from‌‌OANDA‌‌exercising‌‌its‌‌discretions‌‌–‌‌see‌‌page‌‌31,‌‌
Section‌‌5.‌ ‌Our‌‌other‌‌discretions‌‌include:‌ ‌
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setting‌‌our‌‌fees‌‌and‌‌interest‌‌rates;‌ ‌adjusting‌‌our‌‌positions‌‌for‌‌adjustments‌‌made‌‌by‌‌the‌‌market‌‌to‌‌the‌‌Underlying‌‌Security;‌ ‌setting‌‌foreign‌‌exchange‌‌conversion‌‌rates;‌ ‌opening‌‌and‌‌closing‌‌your‌‌Account;‌ ‌giving‌‌you‌‌a‌‌grace‌‌period‌‌for‌‌full‌‌compliance‌‌in‌‌paying‌‌by‌‌cleared‌‌funds‌‌any‌‌amount‌‌you‌‌owe;‌‌and‌ ‌interpretation,‌‌variation‌‌and‌‌application‌‌of‌‌our‌‌policies.‌ ‌Please‌‌note‌‌that‌‌while‌‌we‌‌have‌‌discretions,‌‌the‌‌Trading‌‌Conditions‌‌typically‌‌are‌‌set‌‌or‌‌applied‌‌for‌‌automatic‌‌outcomes,‌‌such‌‌as‌‌Closing‌‌Out‌‌all‌‌of‌‌your‌‌Open‌‌Positions‌‌if‌‌you‌‌do‌‌not‌‌maintain‌‌the‌‌minimum‌‌Margin‌‌Cover.‌ ‌Policies‌ ‌OANDA‌‌has‌‌a‌‌number‌‌of‌‌policies‌‌that‌‌can‌‌affect‌‌your‌‌investments.‌‌The‌‌policies‌‌are‌‌guidelines‌‌that‌‌
OANDA‌‌(including‌‌all‌‌of‌‌its‌‌staff)‌‌is‌‌expected‌‌to‌‌follow‌‌but‌‌policies‌‌are‌‌not‌‌part‌‌of‌‌the‌‌Account‌‌Terms‌‌and‌‌do‌‌not‌‌give‌‌you‌‌additional‌‌legal‌‌rights‌‌or‌‌powers.‌ ‌We‌‌may‌‌change‌‌our‌‌policies‌‌at‌‌any‌‌time‌‌without‌‌notice‌‌to‌‌you.‌‌We‌‌may‌‌amend,‌‌withdraw,‌‌replace‌‌or‌‌add‌‌to‌‌our‌‌policies‌‌at‌‌any‌‌time‌‌without‌‌notice‌‌to‌‌you.‌‌Our‌‌policies‌‌may‌‌help‌‌you‌‌understand‌‌how‌‌we‌‌operate‌‌

OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

AFSL‌‌412981‌ ‌
35‌ ‌

‌
but‌‌all‌‌of‌‌the‌‌important‌‌information‌‌is‌‌set‌‌out‌‌in‌‌or‌‌referred‌‌to‌‌in‌‌this‌‌PDS,‌‌so‌‌you‌‌should‌‌only‌‌rely‌‌on‌‌this‌‌
PDS‌‌and‌‌not‌‌on‌‌the‌‌policies.‌ ‌Our‌‌key‌‌policies‌‌relevant‌‌to‌‌our‌‌products‌‌currently‌‌are:‌ ‌
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Target‌‌Market‌‌Determination;‌ ‌Internal‌‌Dispute‌‌Resolution‌‌Policy;‌ ‌Client‌‌Moneys‌‌Policy;‌ ‌Conflicts‌‌of‌‌Interest‌‌Management‌‌Policy;‌‌and‌ ‌Hedging‌‌Policy.‌ ‌Our‌‌key‌‌policies‌‌are‌‌available‌‌by‌‌contacting‌‌us‌‌and‌‌we‌‌will‌‌send‌‌you‌‌a‌‌copy‌‌of‌‌the‌‌requested‌‌policy‌‌free‌‌of‌‌charge.‌ ‌Anti-Money‌‌Laundering‌‌Laws‌ ‌OANDA‌‌is‌‌subject‌‌to‌‌anti-money‌‌laundering‌‌and‌‌counterterrorism‌‌financing‌‌laws‌(‌ AML‌‌laws)‌‌‌that‌‌can‌‌affect‌‌the‌‌contracts.‌‌If‌‌your‌‌Account‌‌is‌‌established,‌‌OANDA‌‌may‌‌disclose‌‌your‌‌personal‌‌information‌‌or‌‌stop‌‌transactions‌‌on‌‌your‌‌Account‌‌for‌‌the‌‌purposes‌‌of‌‌the‌‌AML‌‌laws‌‌or‌‌under‌‌OANDA’s‌‌AML‌‌laws‌‌
procedures,‌‌without‌‌liability‌‌to‌‌you‌‌for‌‌any‌‌loss‌‌that‌‌arises‌‌due‌‌to‌‌that‌‌occurring.‌ ‌ASIC‌‌Guides‌ ‌ASIC‌‌has‌‌released‌‌a‌‌guide:‌R‌ G‌‌227‌‌Over-the-counter‌‌contracts‌‌for‌‌difference:‌‌Improving‌‌disclosure‌‌for‌‌retail‌‌investors‌.‌‌ASIC‌‌has‌‌also‌‌released‌‌a‌‌guide‌‌for‌‌investing‌‌in‌‌contracts‌‌for‌‌differences:‌T‌ hinking‌‌of‌‌trading‌‌contracts‌‌for‌‌difference‌‌(CFDs)‌?‌ ‌ASIC‌‌has‌‌stated‌‌that‌‌it‌‌will‌‌release‌‌further‌‌guides‌‌to‌‌disclosure‌‌about‌‌OTC‌‌financial‌‌products‌‌and‌‌counterparty‌‌risk.‌‌Potential‌‌investors‌‌are‌‌encouraged‌‌to‌‌contact‌‌ASIC‌‌or‌‌to‌‌visit‌‌the‌‌ASIC‌‌website‌‌(www.asic.gov.au)‌‌for‌‌any‌‌information‌‌released‌‌by‌‌ASIC‌‌on‌‌these‌‌and‌‌other‌‌important‌‌features‌‌and‌‌risks‌‌of‌‌dealing‌‌in‌‌the‌‌contracts.‌ ‌About‌‌OANDA‌ ‌OANDA‌‌is‌‌an‌‌Australian‌‌incorporated‌‌company,‌‌structured‌‌to‌‌provide‌‌financial‌‌services‌‌in‌‌OTC‌‌
derivatives‌‌to‌‌retail‌‌and‌‌wholesale‌‌clients.‌ ‌We‌‌take‌‌pride‌‌in‌‌our‌‌company‌‌and‌‌the‌‌products‌‌we‌‌offer.‌‌Our‌‌success‌‌has‌‌been‌‌in‌‌our‌‌ability‌‌to‌‌offer‌‌our‌‌valued‌‌Clients‌‌unrivalled‌‌technology‌‌and‌‌execution-based‌‌trading‌‌in‌‌OTC‌‌derivatives.‌‌Honesty,‌‌transparency‌‌and‌‌integrity‌‌underpin‌‌our‌‌history,‌‌our‌‌vision‌‌and‌‌our‌‌future,‌‌with‌‌our‌‌Client’s‌‌trading‌‌success‌‌
front‌‌of‌‌mind‌‌in‌‌everything‌‌we‌‌do.‌ ‌Further‌‌information‌‌about‌‌OANDA‌‌is‌‌available‌‌on‌‌its‌‌website‌‌at‌‌h‌ ttps://www.oanda.com/au-en/trading/‌.‌‌OANDA‌‌will‌‌provide‌‌on‌‌request‌‌free‌‌of‌‌charge‌‌a‌‌copy‌‌of‌‌its‌‌most‌‌recently‌‌available‌‌audited‌‌financial‌‌
reports.‌ ‌‌‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

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Taxation‌‌Implications‌ ‌The‌‌following‌‌information‌‌should‌‌be‌‌regarded‌‌as‌‌general‌‌information‌‌only‌‌and‌‌is‌‌based‌‌on‌‌Australian‌‌tax‌‌
laws‌‌as‌‌at‌‌the‌‌date‌‌of‌‌this‌‌PDS.‌ ‌Our‌‌products‌‌will‌‌have‌‌taxation‌‌implications‌‌for‌‌Clients,‌‌depending‌‌on‌‌the‌‌current‌‌tax‌‌laws‌‌and‌‌administration,‌‌the‌‌nature‌‌of‌‌the‌‌Client‌‌for‌‌tax‌‌laws,‌‌the‌‌terms‌‌of‌‌the‌‌transactions‌‌and‌‌other‌‌circumstances.‌‌These‌‌are‌‌invariably‌‌complex‌‌and‌‌specific‌‌to‌‌each‌‌Client.‌‌You‌‌should‌‌consult‌‌your‌‌tax‌‌
advisor‌‌before‌‌trading‌‌in‌‌these‌‌financial‌‌products.‌ ‌The‌‌following‌‌summary‌‌assumes‌‌that‌‌the‌‌Client‌‌will‌‌hold‌‌the‌‌contract‌‌on‌‌revenue‌‌account,‌‌i.e.,‌‌the‌‌Client‌‌
will‌‌be‌‌carrying‌‌on‌‌a‌‌business‌‌of‌‌either‌‌trading‌‌or‌‌investing‌‌in‌‌these‌‌types‌‌of‌‌financial‌‌products‌‌or‌‌the‌‌Client‌‌will‌‌enter‌‌the‌‌financial‌‌products‌‌for‌‌profit‌‌making‌‌purposes‌‌(or‌‌both).‌‌This‌‌summary‌‌does‌‌not‌‌consider‌‌the‌‌taxation‌‌position‌‌if‌‌you‌‌enter‌‌the‌‌financial‌‌products‌‌detailed‌‌in‌‌this‌‌PDS‌‌for‌‌the‌‌purposes‌‌of‌‌hedging‌‌risks‌‌associated‌‌with‌‌other‌‌investments‌‌held‌‌by‌‌the‌‌Client‌‌on‌‌capital‌‌account.‌ ‌If‌‌you‌‌are‌‌entering‌‌into‌‌a‌‌contract‌‌for‌‌the‌‌purposes‌‌of‌‌hedging,‌‌then‌‌the‌‌taxation‌‌consequences‌‌will‌‌
depend‌‌on‌‌the‌‌nature‌‌of‌‌the‌‌underlying‌‌transaction‌‌or‌‌the‌‌asset‌‌or‌‌liability‌‌which‌‌is‌‌being‌‌hedged.‌‌It‌‌is‌recommended‌‌that‌‌you‌‌obtain‌‌your‌‌own‌‌professional‌‌taxation‌‌advice‌‌for‌‌this‌‌scenario.‌ ‌The‌‌Australian‌‌Taxation‌‌Office‌‌(ATO)‌‌Taxation‌‌Ruling‌‌2005/15‌‌describes‌‌the‌‌income‌‌tax‌‌and‌‌capital‌‌gains‌‌tax‌‌implications‌‌of‌‌trading‌‌in‌‌contracts‌‌for‌‌differences.‌‌A‌‌summary‌‌of‌‌ATO‌‌Taxation‌‌Ruling‌‌is‌‌available‌‌at:‌ ‌https://www.ato.gov.au/law/view/document?docid=TXR/TR200515/NAT/ATO/00001‌ ‌‌ he‌‌ATO‌‌Taxation‌‌Ruling‌‌2005/15‌‌does‌‌not‌‌specifically‌‌refer‌‌to‌‌FX‌‌Contracts‌‌however,‌‌it‌‌may‌‌be‌‌implied‌‌Tthat‌‌since‌‌CFDs‌‌with‌‌an‌‌Underlying‌‌Security‌‌as‌‌an‌‌FX‌‌Contract‌‌have‌‌similar‌‌legal‌‌characteristics‌‌as‌‌a‌‌
CFD,‌‌guidance‌‌could‌‌be‌‌taken‌‌from‌‌this‌‌taxation‌‌ruling.‌‌However,‌‌we‌‌still‌‌advise‌‌that‌‌Clients‌‌seek‌‌their‌‌own‌‌independent‌‌tax‌‌advice‌‌in‌‌relation‌‌to‌‌the‌‌taxation‌‌implications‌‌of‌‌entering‌‌into‌‌FX‌‌Contracts.‌ ‌Profits‌‌and‌‌losses‌‌on‌‌our‌‌contracts‌ ‌Any‌‌realised‌‌gains‌‌derived,‌‌or‌‌losses‌‌incurred‌‌by‌‌you‌‌in‌‌respect‌‌of‌‌a‌‌contract‌‌ordinarily‌‌should‌‌be‌‌included‌‌in‌‌your‌‌assessable‌‌income.‌‌Realisation‌‌will‌‌generally‌‌occur‌‌when‌‌the‌‌right‌‌or‌‌obligation‌‌to‌‌receive‌‌or‌‌pay‌‌on‌‌the‌‌contract‌‌ceases.‌ ‌When‌‌calculating‌‌the‌‌amount‌‌of‌‌profit‌‌or‌‌loss,‌‌you‌‌need‌‌to‌‌consider‌‌the‌‌difference‌‌between‌‌the‌‌Closing‌‌
Value‌‌and‌‌the‌‌Contract‌‌Value‌‌on‌‌commencement‌‌of‌‌the‌‌position‌‌and‌‌any‌‌fees‌‌on‌‌Open‌‌Positions‌‌paid‌‌or‌‌
received‌‌by‌‌you.‌ ‌The‌‌availability‌‌of‌‌tax‌‌deductions‌‌or‌‌losses‌‌incurred‌‌as‌‌a‌‌result‌‌of‌‌entering‌‌into‌‌these‌‌contacts‌‌to‌‌offset‌‌current‌‌and‌‌future‌‌year‌‌income‌‌will‌‌depend‌‌on‌‌your‌‌personal‌‌circumstances‌‌and‌‌you‌‌will‌‌need‌‌to‌‌seek‌‌
advice‌‌from‌‌your‌‌tax‌‌adviser‌‌in‌‌this‌‌regard.‌ ‌Interest‌ ‌If‌‌you‌‌receive‌‌any‌‌Interest‌‌on‌‌your‌‌Account,‌‌it‌‌is‌‌likely‌‌to‌‌be‌‌treated‌‌as‌‌assessable‌‌income‌‌for‌‌Australian‌‌tax‌‌purposes‌‌at‌‌the‌‌time‌‌that‌‌it‌‌is‌‌credited‌‌to‌‌the‌‌Account.‌‌If‌‌you‌‌do‌‌not‌‌provide‌‌your‌‌TFN‌‌(or‌‌ABN‌‌if‌‌applicable)‌‌or‌‌proof‌‌of‌‌exemption,‌‌OANDA‌‌may‌‌be‌‌required‌‌to‌‌withhold‌‌tax‌‌from‌‌any‌‌interest‌‌payment‌‌at‌‌

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the‌‌highest‌‌marginal‌‌rate‌‌(possibly‌‌plus‌‌any‌‌levy).‌‌See‌‌below‌‌information‌‌on‌‌“Tax‌‌file‌‌number‌‌withholding‌‌
rules”.‌ ‌Capital‌‌gains‌‌tax‌ ‌It‌‌is‌‌our‌‌understanding‌‌that‌‌a‌‌contract‌‌for‌‌difference‌‌and‌‌a‌‌FX‌‌Contract‌‌will‌‌be‌‌classified‌‌as‌‌capital‌‌gains‌‌tax‌‌assets‌‌under‌‌the‌‌Income‌‌Tax‌‌Assessment‌‌Act‌‌1997‌‌(Commonwealth)‌‌(I‌TAA‌).‌‌Your‌‌dealing‌‌in‌‌the‌‌contracts‌‌will‌‌have‌‌capital‌‌gains‌‌tax‌‌implications‌‌for‌‌you.‌‌In‌‌calculating‌‌any‌‌capital‌‌gain‌‌or‌‌loss‌‌in‌‌respect‌‌of‌‌your‌‌dealing‌‌in‌‌our‌‌contracts,‌‌it‌‌is‌‌our‌‌understanding‌‌that‌‌you‌‌are‌‌entitled‌‌to‌‌take‌‌into‌‌consideration‌‌the‌‌cost‌‌of‌‌acquiring,‌‌holding‌‌and‌‌disposing‌‌of‌‌the‌‌contract.‌ ‌Tax‌‌file‌‌number‌‌withholding‌‌rules‌ ‌The‌‌tax‌‌file‌‌number‌‌withholding‌‌rules‌‌only‌‌apply‌‌to‌‌those‌‌investments‌‌as‌‌set‌‌out‌‌in‌‌income‌‌tax‌‌legislation.‌‌OANDA’s‌‌current‌‌understanding‌‌is‌‌that‌‌those‌‌withholding‌‌rules‌‌do‌‌not‌‌apply‌‌to‌‌its‌‌financial‌‌products;‌‌
however,‌‌if‌‌it‌‌is‌‌later‌‌determined‌‌to‌‌apply‌‌and‌‌you‌‌have‌‌not‌‌provided‌‌OANDA‌‌with‌‌your‌‌tax‌‌file‌‌number‌‌or‌‌an‌‌exemption‌‌category,‌‌OANDA‌‌may‌‌be‌‌obliged‌‌to‌‌withhold‌‌interest‌‌payments,‌‌if‌‌any,‌‌at‌‌the‌‌highest‌‌
margin‌‌tax‌‌rate‌‌and‌‌remit‌‌that‌‌amount‌‌to‌‌the‌‌ATO.‌ ‌Other‌‌fees,‌‌charges‌‌or‌‌commissions‌ ‌If‌‌the‌‌position‌‌gives‌‌rise‌‌to‌‌gains‌‌that‌‌are‌‌assessable‌‌or‌‌losses‌‌that‌‌are‌‌deductible,‌‌any‌‌fees‌‌other‌‌than‌‌charges‌‌or‌‌commissions‌‌ordinarily‌‌should‌‌be‌‌available‌‌as‌‌a‌‌deduction‌‌at‌‌the‌‌time‌‌they‌‌are‌‌paid‌‌by‌‌the‌‌investor‌‌and‌‌debited‌‌against‌‌their‌‌Account.‌ ‌Goods‌‌and‌‌Services‌‌Tax‌ ‌According‌‌to‌‌the‌‌ATO‌‌GST‌‌Determination‌‌GSTD2005/3,‌‌the‌‌provision,‌‌acquisition‌‌or‌‌disposal‌‌of‌‌a‌‌contract‌‌for‌‌difference‌‌and‌‌a‌‌FX‌‌Contract‌‌is‌‌a‌‌financial‌‌supply‌‌under‌‌the‌‌provisions‌‌of‌‌the‌‌A‌‌New‌‌Tax‌‌
System‌‌(Goods‌‌and‌‌Services)‌‌Tax‌‌1999‌‌and‌‌related‌‌regulations‌‌and‌‌is‌‌input‌‌taxed,‌‌with‌‌no‌‌GST‌‌imposed.‌ ‌Except‌‌for‌‌fees‌‌and‌‌charges‌‌as‌‌set‌‌out‌‌in‌‌this‌‌PDS,‌‌amounts‌‌payable‌‌for‌‌or‌‌in‌‌respect‌‌of‌‌positions‌‌are‌‌not‌‌subject‌‌to‌‌goods‌‌and‌‌service‌‌tax‌‌for‌‌Australian‌‌residents.‌‌However,‌‌Clients‌‌should‌‌seek‌‌their‌‌own‌‌
independent‌‌advice.‌ ‌Cooling‌‌Off‌ ‌There‌‌is‌‌no‌‌cooling‌‌off‌‌arrangement‌‌for‌‌our‌‌offering.‌‌This‌‌means‌‌that‌‌you‌‌do‌‌not‌‌have‌‌the‌‌right‌‌to‌‌return‌‌any‌‌OANDA‌‌OTC‌‌contract‌‌acquired,‌‌nor‌‌request‌‌a‌‌refund‌‌of‌‌the‌‌money‌‌paid‌‌to‌‌acquire‌‌the‌‌contract.‌‌If‌‌you‌‌change‌‌your‌‌mind‌‌after‌‌entering‌‌into‌‌a‌‌contract‌‌with‌‌OANDA,‌‌you‌‌must‌‌close‌‌it‌‌out,‌‌pay‌‌any‌‌Transaction‌‌costs‌‌and‌‌take‌‌the‌‌risk‌‌of‌‌incurring‌‌a‌‌loss‌‌in‌‌doing‌‌so.‌ ‌Ethical‌‌Considerations‌ ‌Our‌‌OANDA‌‌OTC‌‌contracts‌‌do‌‌not‌‌have‌‌an‌‌investment‌‌component.‌ ‌Labour‌‌standards‌‌or‌‌environmental,‌‌social‌‌or‌‌ethical‌‌considerations‌‌are‌‌not‌‌considered‌‌by‌‌OANDA‌‌when‌‌making,‌‌holding,‌‌varying‌‌or‌‌Closing‌‌Out‌‌the‌‌contracts.‌ ‌‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

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Jurisdictions‌ ‌The‌‌distribution‌‌of‌‌this‌‌PDS‌‌in‌‌jurisdictions‌‌outside‌‌Australia‌‌may‌‌be‌‌subject‌‌to‌‌legal‌‌restrictions.‌‌Any‌‌
person‌‌who‌‌resides‌‌outside‌‌Australia‌‌who‌‌gains‌‌access‌‌to‌‌this‌‌PDS‌‌should‌‌comply‌‌with‌‌any‌‌such‌‌
restrictions‌‌and‌‌failure‌‌to‌‌do‌‌so‌‌may‌‌constitute‌‌a‌‌violation‌‌of‌‌financial‌‌services‌‌laws.‌ ‌OANDA’s‌‌operations‌‌are‌‌governed‌‌by‌‌the‌‌laws‌‌of‌‌Australia.‌ ‌OANDA‌‌Insurance‌ ‌OANDA‌‌has‌‌a‌‌comprehensive‌‌insurance‌‌policy‌‌in‌‌place‌‌to‌‌cover‌‌a‌‌variety‌‌of‌‌different‌‌scenarios,‌‌some‌‌
which‌‌may‌‌assist‌‌in‌‌the‌‌repayment‌‌of‌‌deficits‌‌arising‌‌from‌‌dealing‌‌with‌‌a‌‌Hedge‌‌Counterparty‌‌or‌‌if‌‌there‌‌is‌‌fraudulent‌‌activity‌‌by‌‌one‌‌of‌‌OANDA’s‌‌employees,‌‌directors‌‌or‌‌authorised‌‌representatives‌‌that‌‌results‌‌in‌‌your‌‌money‌‌being‌‌used‌‌in‌‌fraudulent‌‌activities.‌ ‌If‌‌the‌‌insurance‌‌policy‌‌is‌‌insufficient‌‌or‌‌the‌‌insurer‌‌fails‌‌to‌‌perform‌‌its‌‌obligations,‌‌OANDA‌‌may‌‌not‌‌be‌‌able‌‌to‌‌make‌‌the‌‌payments‌‌it‌‌owes‌‌to‌‌you.‌ ‌Internal‌‌Dispute‌‌Resolution‌‌(IDR)‌ ‌OANDA‌‌is‌‌committed‌‌to‌‌providing‌‌our‌‌clients‌‌with‌‌outstanding‌‌service.‌‌However‌‌if‌‌you‌‌have‌‌a‌‌dispute‌‌
about‌‌the‌‌financial‌‌product‌‌or‌‌service‌‌provided‌‌to‌‌you,‌‌please‌‌raise‌‌the‌‌issue‌‌with‌‌us‌‌by‌‌taking‌‌the‌‌following‌‌steps:‌ ‌
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Contact‌‌our‌‌OANDA‌‌Client‌‌Experience‌‌Team‌‌and‌‌provide‌‌the‌‌details‌‌of‌‌your‌‌dispute.‌‌You‌‌may‌‌do‌‌this‌‌by‌‌telephone,‌‌email,‌‌online‌‌chat‌‌or‌‌letter.‌ ‌If‌‌your‌‌dispute‌‌can‌‌not‌‌be‌‌immediately‌‌resolved‌‌with‌‌our‌‌OANDA‌‌Client‌‌Experience‌‌Team,‌‌your‌‌details‌‌and‌‌the‌‌details‌‌of‌‌your‌‌dispute‌‌will‌‌be‌‌given‌‌to‌‌the‌‌OANDA‌‌Complaints‌‌Officer.‌ ‌Within‌‌24‌‌hours‌‌of‌‌receipt‌‌of‌‌complaint‌‌‌-‌‌a‌‌complainant‌‌must‌‌be‌‌sent‌‌confirmation‌‌of‌‌receipt‌‌of‌‌their‌‌complaint‌‌by‌‌the‌‌complaints‌‌officer;‌ ‌Within‌‌5‌‌business‌‌days‌‌of‌‌receipt‌‌of‌‌complaint‌‌‌-‌‌all‌‌best‌‌endeavours‌‌should‌‌be‌‌made‌‌to‌‌resolve‌‌the‌‌complaint‌‌within‌‌5‌‌business‌‌days‌‌of‌‌receipt.‌‌If‌‌resolved‌‌satisfactorily‌‌in‌‌the‌‌complainants‌‌favor‌‌within‌‌5‌‌business‌‌days‌‌then‌‌a‌‌written‌‌response‌‌to‌‌the‌‌complainant‌‌is‌‌not‌‌required;‌ ‌Within‌‌30‌‌calendar‌‌days‌‌of‌‌receipt‌‌of‌‌complaint‌‌‌-‌‌A‌‌response‌‌to‌‌a‌‌standard‌‌complaint‌‌is‌‌to‌‌given‌‌to‌‌the‌‌complainant‌‌utilising‌‌the‌‌complainants‌‌preferred‌‌method‌‌of‌‌communication;‌ ‌Any‌‌client‌‌may‌‌lodge‌‌a‌‌dispute‌‌with‌‌the‌‌Complaints‌‌Officer‌‌directly‌‌via:‌ ‌‌‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌ ‌Level‌‌1‌‌60‌‌Martin‌‌Place‌‌Sydney‌‌NSW‌‌2000‌ ‌or‌‌by‌‌email‌‌at:‌i‌dr@oanda.com‌ ‌OANDA‌‌will‌‌make‌‌every‌‌effort‌‌to‌‌try‌‌to‌‌resolve‌‌your‌‌dispute‌‌quickly‌‌and‌‌fairly.‌‌ ‌If‌‌you‌‌are‌‌not‌‌satisfied‌‌with‌‌the‌‌final‌‌response‌‌provided‌‌by‌‌OANDA,‌‌you‌‌have‌‌the‌‌right‌‌to‌‌take‌‌your‌‌
dispute‌‌to‌‌the‌A‌ ustralian‌‌Financial‌‌Complaints‌‌Authority‌‌(AFCA)‌.‌‌ ‌AFCA‌‌‌is‌‌an‌‌external‌‌dispute‌‌resolution‌‌scheme.‌‌The‌‌contact‌‌details‌‌for‌A‌ FCA‌‌‌are:‌ ‌‌‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

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Australian‌‌Financial‌‌Complaints‌‌Authority‌‌(AFCA)‌‌ ‌Online:‌h‌ ttps://www.afca.org.au/‌ ‌email:‌i‌nfo@afc.org.au‌ ‌Phone:‌‌1800‌‌931‌‌678‌ ‌Mail:‌‌ Australian‌‌Financial‌‌Complaints‌‌Authority‌ ‌GPO‌‌Box‌‌3‌ ‌Melbourne‌‌VIC‌‌3001‌ ‌Please‌‌note‌‌that‌‌we‌‌will‌‌need‌‌to‌‌respond‌‌to‌‌your‌‌complaint‌‌prior‌‌to‌‌AFCA‌‌initiating‌‌any‌‌investigation‌‌into‌‌
your‌‌complaint.‌ ‌OANDA‌‌is‌‌a‌‌member‌‌of‌‌the‌‌AFCA‌‌complaints‌‌resolution‌‌scheme.‌‌The‌‌service‌‌provided‌‌to‌‌you‌‌by‌‌AFCA‌‌is‌‌free‌‌of‌‌charge.‌ ‌The‌‌Australian‌‌Securities‌‌and‌‌Investments‌‌Commission‌‌(A‌ SIC‌)‌‌also‌‌has‌‌an‌‌Info‌‌line‌‌on‌‌1300‌‌300‌‌630‌‌
which‌‌you‌‌may‌‌use‌‌to‌‌make‌‌a‌‌complaint‌‌and‌‌obtain‌‌information‌‌about‌‌your‌‌rights.‌ ‌Please‌‌visit‌h‌ ttps://www.oanda.com/au-en/legal/dispute-resolution‌‌‌for‌‌further‌‌information.‌ ‌Privacy‌ ‌All‌‌the‌‌information‌‌collected‌‌by‌‌OANDA,‌‌in‌‌the‌‌application‌‌form‌‌or‌‌otherwise,‌‌is‌‌used‌‌for‌‌the‌‌purpose‌‌of‌‌providing‌‌you‌‌with‌‌the‌‌financial‌‌products‌‌and‌‌services,‌‌maintaining‌‌your‌‌Account,‌‌and‌‌for‌‌the‌‌purpose‌‌of‌‌assessing‌‌whether‌‌you‌‌would‌‌be‌‌suitable‌‌as‌‌a‌‌Client.‌ ‌OANDA‌‌has‌‌obligations‌‌under‌‌and‌‌has‌‌procedures‌‌in‌‌place‌‌to‌‌ensure‌‌its‌‌compliance‌‌with‌‌the‌‌Privacy‌‌
Amendment‌‌(Enhancing‌‌Privacy‌‌Protection)‌‌Act‌‌2012‌‌(Commonwealth),‌‌as‌‌amended‌‌from‌‌time‌‌to‌‌time‌‌(‌Privacy‌‌Act‌)‌‌and‌‌to‌‌be‌‌bound‌‌by‌‌the‌‌Australian‌‌Privacy‌‌Principles.‌ ‌Significantly,‌‌these‌‌include‌‌the‌‌following:‌ ‌Collecting‌‌personal‌‌information‌ ‌In‌‌collecting‌‌personal‌‌information,‌‌OANDA‌‌is‌‌required:‌ ‌●●●to‌‌collect‌‌only‌‌information‌‌which‌‌is‌‌necessary‌‌for‌‌the‌‌purpose‌‌described‌‌above;‌ ‌to‌‌ensure‌‌that‌‌collection‌‌of‌‌the‌‌information‌‌is‌‌by‌‌fair‌‌and‌‌lawful‌‌means;‌‌and‌ ‌to‌‌take‌‌reasonable‌‌steps‌‌to‌‌make‌‌you,‌‌the‌‌individual,‌‌aware‌‌of‌‌why‌‌the‌‌information‌‌is‌‌being‌‌
collected‌‌and‌‌that‌‌you‌‌may‌‌access‌‌the‌‌information‌‌held‌‌by‌‌us.‌ ‌If‌‌necessary,‌‌OANDA‌‌may‌‌also‌‌collect‌‌information‌‌on‌‌directors‌‌and‌‌shareholders‌‌of‌‌a‌‌corporate‌‌client‌‌or‌‌agents‌‌or‌‌representatives‌‌of‌‌the‌‌Client.‌‌OANDA‌‌may‌‌be‌‌required‌‌by‌‌law‌‌to‌‌collect‌‌information,‌‌such‌‌as‌‌for‌‌taxation‌‌purposes‌‌or‌‌to‌‌identify‌‌persons‌‌who‌‌open‌‌or‌‌operate‌‌an‌‌account.‌ ‌OANDA‌‌may‌‌take‌‌steps‌‌to‌‌verify‌‌information‌‌given‌‌to‌‌it,‌‌in‌‌accordance‌‌with‌‌relevant‌‌laws,‌‌such‌‌as‌‌consulting‌‌registries,‌‌referees,‌‌employers‌‌or‌‌credit‌‌agencies.‌‌This‌‌information‌‌will‌‌not‌‌be‌‌disclosed‌‌to‌‌any‌‌other‌‌person‌‌although‌‌OANDA‌‌may‌‌disclose‌‌this‌‌information‌‌to‌‌its‌‌related‌‌bodies‌‌corporate‌‌or‌‌agents‌‌in‌‌the‌‌ordinary‌‌course‌‌of‌‌OANDA‌‌providing‌‌you‌‌with‌‌its‌‌products‌‌and‌‌services.‌ ‌‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

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Using‌‌the‌‌personal‌‌information‌ ‌Once‌‌OANDA‌‌has‌‌collected‌‌the‌‌information‌‌from‌‌you,‌‌OANDA‌‌will‌‌only‌‌use‌‌the‌‌information‌‌for‌‌the‌‌purposes‌‌described‌‌above‌‌unless‌‌you‌‌consent‌‌otherwise.‌ ‌Personal‌‌information‌‌may‌‌be‌‌disclosed‌‌to:‌ ‌
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any‌‌person‌‌acting‌‌on‌‌your‌‌behalf,‌‌including‌‌your‌‌advisor,‌‌accountant,‌‌solicitor,‌‌executor,‌‌attorney‌‌or‌‌other‌‌representative;‌ ‌related‌‌bodies‌‌corporate‌‌or‌‌agents‌‌in‌‌the‌‌ordinary‌‌course‌‌of‌‌OANDA‌‌providing‌‌you‌‌with‌‌its‌
products‌‌and‌‌services‌‌if‌‌you‌‌use,‌‌or‌‌intend‌‌to‌‌use,‌‌services‌‌of‌‌those‌‌other‌‌corporations;‌ ‌any‌‌organisations‌‌to‌‌whom‌‌OANDA‌‌outsources‌‌administrative‌‌functions;‌ ‌brokers‌‌or‌‌agents‌‌who‌‌refer‌‌your‌‌business‌‌to‌‌OANDA‌‌(so‌‌that‌‌we‌‌may‌‌efficiently‌‌exchange‌‌
information‌‌and‌‌administer‌‌your‌‌account);‌ ‌regulatory‌‌authorities;‌ ‌as‌‌required‌‌or‌‌permitted‌‌by‌‌law‌‌or‌‌by‌‌court‌‌order.‌ ‌This‌‌information‌‌will‌‌not‌‌be‌‌disclosed‌‌to‌‌any‌‌other‌‌person‌‌without‌‌your‌‌consent.‌ ‌You‌‌may‌‌access‌‌your‌‌personal‌‌information‌‌held‌‌by‌‌OANDA‌‌(subject‌‌to‌‌permitted‌‌exceptions),‌‌by‌‌contacting‌‌OANDA.‌ ‌As‌‌OANDA‌‌is‌‌obliged‌‌by‌‌law‌‌to‌‌take‌‌reasonable‌‌steps‌‌to‌‌ensure‌‌that‌‌the‌‌personal‌‌information‌‌used‌‌is‌‌accurate,‌‌up‌‌to‌‌date‌‌and‌‌complete,‌‌please‌‌inform‌‌us‌‌immediately‌‌if‌‌any‌‌of‌‌the‌‌information‌‌provided‌‌in‌‌this‌‌
section‌‌changes.‌ ‌Retaining‌‌personal‌‌information‌ ‌OANDA‌‌takes‌‌reasonable‌‌steps‌‌to‌‌maintain‌‌secure‌‌protection‌‌of‌‌all‌‌personal‌‌information‌‌obtained‌‌from‌‌
misuse,‌‌loss,‌‌unauthorised‌‌access,‌‌modification‌‌or‌‌disclosure.‌ ‌Privacy‌‌Complaints‌ ‌Any‌‌concerns‌‌you‌‌may‌‌have‌‌regarding‌‌OANDA’s‌‌privacy‌‌practices‌‌or‌‌specific‌‌complaints‌‌about‌‌how‌personal‌‌information‌‌has‌‌been‌‌collected,‌‌used‌‌or‌‌disclosed‌‌should‌‌be‌‌forwarded‌‌in‌‌writing‌‌to‌‌OANDA’s‌‌
Privacy‌‌Officer.‌‌OANDA‌‌will‌‌thoroughly‌‌investigate‌‌the‌‌complaint‌‌and‌‌will‌‌take‌‌whatever‌‌actions‌‌are‌‌warranted‌‌and‌‌will‌‌then‌‌notify‌‌you‌‌once‌‌this‌‌has‌‌been‌‌done.‌ ‌If‌‌you‌‌have‌‌a‌‌concern‌‌or‌‌complaint‌‌that‌‌our‌‌actions‌‌have‌‌breached‌‌the‌‌Privacy‌‌Act‌‌or‌‌the‌‌Australian‌‌
Privacy‌‌Principles,‌‌you‌‌can‌‌contact‌‌us‌‌by‌‌phone‌‌on:‌‌13000‌‌OANDA‌‌(62632)‌‌or‌‌write‌‌to‌‌us‌‌at:‌ ‌‌‌The‌‌Privacy‌‌Officer‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌ ‌Level‌‌1‌‌60‌‌Martin‌‌Place‌‌Sydney‌‌NSW‌‌2000‌ ‌Email:‌‌auscompliance@oanda.com‌ ‌If‌‌you‌‌are‌‌not‌‌satisfied‌‌with‌‌our‌‌response‌‌you‌‌can‌‌call‌‌the‌‌Privacy‌‌Commissioner’s‌‌hotline‌‌on‌‌1300‌‌363‌‌
992.‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

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‌ ection‌‌7‌‌–‌‌OANDA‌‌Trading‌‌Examples‌ ‌‌Opening‌‌Transaction‌‌-‌‌Brent‌‌Crude‌‌Oil‌‌CFD‌ ‌Opening‌‌Transaction‌‌-‌‌US‌‌SPX‌‌500‌‌Index‌‌CFD‌ ‌Quote‌‌Bid/Ask‌ ‌Quote‌‌Bid/Ask‌ ‌110.00/110.05‌ ‌1800.0/1801.0‌ ‌Open‌‌Transaction‌‌Price‌‌to‌‌Buy‌ 110.05‌ ‌Open‌‌Transaction‌‌Price‌‌to‌‌Buy‌ 1800‌ ‌Transaction‌‌Size‌ ‌100‌‌Units‌‌(1‌‌unit‌‌=‌‌1‌‌barrel)‌ ‌Transaction‌‌Size‌ ‌50‌‌Units‌ ‌Transaction‌‌Value‌ ‌100‌‌x‌‌110.5‌‌=‌‌US11,050.00‌ ‌Transaction‌‌Value‌ ‌50‌‌x‌‌1800‌‌=‌‌US$90,000.00‌ ‌Initial‌‌Margin‌‌@‌‌10:1‌‌Leverage‌ US$11,050/10‌‌=‌‌US$1,105.00‌ ‌ Initial‌‌Margin‌‌@‌‌20:1‌‌Leverage‌ US$90,000/20‌‌=‌‌US$4,500.00‌ ‌Closing‌‌Transaction‌‌-‌‌Brent‌‌Crude‌‌Oil‌‌CFD‌ ‌Closing‌‌Transaction‌‌-‌‌US‌‌SPX‌‌500‌‌Index‌‌CFD‌ ‌Quote‌‌Bid/Ask‌ ‌115.00/115.05‌ ‌Quote‌‌Bid/Ask‌ ‌1849/1850‌ ‌Closing‌‌Transaction‌‌Price‌‌to‌‌Sell‌ ‌

115‌ ‌

Closing‌‌Transaction‌‌Price‌‌to‌‌Sell‌ ‌

1850‌ ‌

Transaction‌‌Size‌ ‌100‌‌Units‌ ‌(1‌‌Unit‌‌=‌‌1‌‌Barrel)‌ ‌Transaction‌‌Size‌ ‌50‌‌Units‌ ‌Transaction‌‌P&L‌ ‌(Closing‌‌Sell‌‌Price‌‌-‌‌Opening‌‌ US$495.00cr‌ ‌Buy‌‌Price)‌‌x‌‌Transaction‌‌Size‌ ‌ (115.00‌‌-‌‌110.05)‌‌x‌‌100‌ ‌Transaction‌‌P&L‌ ‌(Closing‌‌Sell‌‌Value‌‌-‌‌Opening‌‌ US$2,500dr‌ ‌(1850‌‌-‌‌1800)‌x‌ ‌‌50‌ ‌Buy‌‌Value)‌ ‌Financing‌‌(Debit/Credit)‌ ‌US$2.50dr‌ ‌Financing‌‌(Debit/Credit)‌ ‌US$6.67cr‌ ‌Net‌‌Transaction‌‌Profit‌ ‌US$492.50cr‌ ‌Net‌‌Transaction‌‌Profit‌ ‌US$2,493.33dr‌ ‌

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Opening‌‌Transaction‌‌-‌‌USD/JPY‌‌FX‌‌Contract‌ ‌Opening‌‌Transaction‌‌-‌‌AUD/USD‌‌FX‌‌Contract‌ ‌Quote‌‌Bid/Ask‌ ‌Quote‌‌Bid/Ask‌ ‌103.99/104.00‌ ‌0.7707/0.7712‌ ‌Open‌‌Transaction‌‌Price‌‌to‌‌Buy‌ 104‌ ‌Open‌‌Transaction‌‌Price‌‌to‌‌Sell‌ 0.7707‌ ‌Transaction‌‌Size‌ ‌100,000‌‌Units‌‌(1‌‌Standard‌‌Lot)‌

Transaction‌‌Size‌ ‌300,000‌‌Units‌ ‌Transaction‌‌Value‌ ‌¥100,000/104‌‌=‌‌US$961.54‌ ‌Transaction‌‌Value‌ ‌A$300,000‌‌x‌‌0.7707‌‌=‌‌
US$231,210‌ ‌Initial‌‌Margin‌‌@‌‌30:1‌‌Leverage‌ US$961.54/30‌‌=‌‌US$32.05‌ ‌US$231,210/30‌‌=‌‌
Initial‌‌Margin‌‌@‌‌30:1‌‌Leverage‌ US$7,707.00‌ ‌Closing‌‌Transaction‌‌-‌‌USD/JPY‌‌FX‌‌Contract‌ ‌Closing‌‌Transaction‌‌-‌‌AUD/USD‌‌FX‌‌Contract‌ ‌Quote‌‌Bid/Ask‌ ‌94.00/94.01‌ ‌Stop‌‌Loss‌‌Order‌ ‌Buy‌‌@‌‌0.7750‌ ‌Closing‌‌Transaction‌‌Price‌‌to‌‌Sell‌ ‌

94‌ ‌Quote‌‌Bid/Ask‌ ‌0.7749/0.7750‌ ‌Transaction‌‌Size‌ ‌100,000‌‌Units‌‌(1‌‌Standard‌‌Lot)‌

Closing‌‌Transaction‌‌Price‌‌to‌‌Buy‌ ‌

0.775‌ ‌Transaction‌‌Value‌ ‌¥100,000/94‌‌=‌‌US$1,063.83‌ ‌Transaction‌‌Size‌ ‌300,000‌‌Units‌ ‌Transaction‌‌P&L‌ ‌(Closing‌‌Sell‌‌Value‌‌-‌‌Opening‌‌ US$102.29cr‌ ‌Buy‌‌Value)‌ ‌(US$1,063.83‌-‌ ‌‌US$961.54)‌ ‌Transaction‌‌Value‌ ‌A$300,000‌‌x‌‌0.7750‌‌=‌‌
US$232,500‌ ‌Financing‌‌(Debit/Credit)‌ ‌Transaction‌‌P&L‌ ‌(Opening‌‌Sell‌‌Value‌‌-‌‌Closing‌‌ US$1,290.00dr‌ ‌Buy‌‌Value)‌ ‌(US$231,210‌‌-‌‌US$232,500)‌ ‌US$11.17cr‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

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Net‌‌Transaction‌‌Profit‌ ‌US$113.46cr‌

Financing‌‌(Debit/Credit)‌ ‌US$20.00dr‌ ‌‌‌Net‌‌Transaction‌‌Profit‌ ‌US$1,310.00dr‌ ‌Trading‌‌with‌‌MT4‌‌Hedging‌‌Compatibility‌‌enabled‌ ‌Opening‌‌the‌‌first‌‌position‌ ‌With‌‌your‌‌MT4‌‌Hedging‌‌Compatibility‌‌account,‌‌you‌‌decide‌‌to‌‌open‌‌a‌‌2‌‌lot‌‌(which‌‌equals‌‌200,000‌‌units‌‌on‌‌fxTrade)‌‌position‌‌going‌‌long‌‌AUD/USD‌‌on‌‌the‌‌MT4‌‌platform‌‌(note:‌‌It‌‌is‌‌not‌‌possible‌‌to‌‌open‌‌trades‌‌on‌‌the‌‌desktop‌‌fxTrade‌‌platform,‌‌nor‌‌advised‌‌to‌‌open/close‌‌trades‌‌on‌‌other‌‌fxTrade‌‌platforms).‌ ‌Both‌‌the‌‌MT4‌‌and‌‌fxTrade‌‌will‌‌display‌‌the‌‌same‌‌open‌‌position‌‌and‌‌Margin‌‌Used,‌‌and‌‌interest‌‌will‌‌be‌‌accrued‌‌based‌‌on‌‌this‌‌position.‌ ‌Opening‌‌a‌‌second,‌‌hedged‌‌position‌ ‌You‌‌decide‌‌to‌‌open‌‌a‌‌1‌‌lot‌‌(100,000‌‌unit)‌‌trade‌‌going‌‌short‌‌AUD/USD‌‌with‌‌your‌‌MT4‌‌Hedging‌‌
Compatibility‌‌account‌‌on‌‌the‌‌MT4‌‌Platform.‌ ‌The‌‌MT4‌‌platform‌‌will‌‌display‌‌two‌‌positions:‌‌a‌‌2‌‌lot‌‌trade‌‌long‌‌AUD/USD‌‌and‌‌a‌‌1‌‌lot‌‌trade‌‌short‌‌
AUD/USD.‌‌Margin‌‌Used‌‌is‌‌represented‌‌as‌‌2‌‌lots‌‌(aka,‌‌the‌‌longest‌‌leg‌‌of‌‌your‌‌hedged‌‌positions),‌‌influencing‌‌the‌‌calculation‌‌of‌‌how‌‌much‌‌Margin‌‌Available‌‌remains‌‌for‌‌future‌‌trades.‌‌All‌‌Profit/Loss‌‌will‌‌be‌‌displayed‌‌as‌‌unrealized.‌ ‌fxTrade‌‌(the‌‌system‌‌of‌‌record)‌‌will‌‌partially‌‌close‌‌your‌‌long‌‌position‌‌of‌‌200,000‌‌units‌‌of‌‌AUD/USD‌‌(equivalent‌‌to‌‌2‌‌lots)‌‌and‌‌display‌‌a‌‌single,‌‌net‌‌position‌‌of‌‌100,000‌‌units‌‌long‌‌AUD/USD.‌‌Margin‌‌Used‌‌is‌‌
100,000‌‌units,‌‌influencing‌‌how‌‌close‌‌you‌‌are‌‌to‌‌a‌‌margin‌‌closeout.‌‌Any‌‌Profit/Loss‌‌held‌‌on‌‌the‌‌additional‌‌
100,000‌‌units‌‌long‌‌AUD/USD‌‌that‌‌has‌‌now‌‌been‌‌closed‌‌will‌‌become‌‌realized.‌‌Interest‌‌will‌‌be‌‌accrued‌‌based‌‌on‌‌this‌‌net‌‌position.‌ ‌Closing‌‌all‌‌positions,‌‌starting‌‌with‌‌the‌‌longest‌‌leg‌ ‌You‌‌decide‌‌to‌‌close‌‌all‌‌of‌‌your‌‌positions‌‌in‌‌MT4,‌‌starting‌‌with‌‌the‌‌2‌‌lot‌‌long‌‌AUD/USD‌‌position.‌ ‌Once‌‌closed,‌‌the‌‌MT4‌‌platform‌‌will‌‌display‌‌realized‌‌profits/losses‌‌on‌‌that‌‌2‌‌lot‌‌position.‌‌The‌‌fxTrade‌‌
platform‌‌will‌‌then‌‌simultaneously‌‌close‌‌your‌‌net‌‌position‌‌of‌‌100,000‌‌units‌‌long‌‌AUD/USD‌‌(realizing‌‌all‌‌profits/losses)‌‌while‌‌opening‌‌a‌‌new‌‌position‌‌of‌‌100,000‌‌units‌‌short‌‌AUD/USD.‌‌All‌‌profits/losses‌‌from‌‌the‌
100,000‌‌unit‌‌long‌‌position‌‌will‌‌be‌‌realized,‌‌while‌‌new‌‌profits/losses‌‌from‌‌the‌‌100,000‌‌unit‌‌short‌‌position‌‌will‌‌remain‌‌unrealized.‌ ‌Both‌‌MT4‌‌and‌‌fxTrade‌‌will‌‌then‌‌display‌‌the‌‌same‌‌remaining‌‌position‌‌for‌‌1‌‌lot/100,000‌‌units‌‌short‌‌
AUD/USD,‌‌with‌‌1‌‌lot/100,000‌‌units‌‌of‌‌Margin‌‌Used.‌ ‌Closing‌‌your‌‌remaining‌‌position‌ ‌You‌‌then‌‌decide‌‌to‌‌close‌‌your‌‌sole‌‌remaining‌‌1‌‌lot‌‌position‌‌short‌‌AUD/USD.‌ ‌Once‌‌closed,‌‌both‌‌the‌‌MT4‌‌and‌‌fxTrade‌‌platform‌‌will‌‌realize‌‌all‌‌profits/losses,‌‌and‌‌Margin‌‌Used‌‌will‌‌reset‌‌to‌‌0.‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

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Notes‌‌to‌‌all‌‌examples‌‌in‌‌this‌‌PDS:‌ ‌‌The‌‌above‌‌examples‌‌are‌‌to‌‌illustrate‌‌the‌‌impact‌‌of‌‌key‌‌variables‌‌on‌‌the‌‌outcome‌‌of‌‌a‌‌Transaction.‌‌They‌‌are‌‌not‌‌forecasts‌‌or‌‌projections‌‌of‌‌any‌‌particular‌‌Transaction.‌ ‌
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These‌‌examples‌‌are‌‌not‌‌intended‌‌to‌‌be‌‌exhaustive‌‌and‌‌document‌‌every‌‌trading‌‌strategy.‌ ‌The‌‌examples‌‌use‌‌simplifying‌‌assumptions‌‌by‌‌not‌‌taking‌‌into‌‌account‌‌an‌‌investor’s‌‌tax‌‌rate‌‌or‌‌overall‌‌tax‌‌position,‌‌potential‌‌changes‌‌in‌‌interest‌‌rates‌‌charged‌‌to‌‌or‌‌earned‌‌on‌‌the‌‌Account‌‌or‌‌the‌‌time‌‌value‌‌of‌‌money.‌‌OANDA‌‌charges,‌‌and‌‌credits,‌‌interest‌‌which‌‌is‌‌calculated‌‌per‌‌second.‌‌While‌‌
these‌‌variables‌‌will‌‌undoubtedly‌‌change‌‌the‌‌outcome‌‌of‌‌a‌‌Transaction,‌‌they‌‌are‌‌normal‌‌market‌‌variables‌‌which‌‌cannot‌‌now‌‌be‌‌predicted‌‌and‌‌so‌‌must‌‌be‌‌taken‌‌into‌‌consideration‌‌by‌‌a‌‌potential‌‌
investor‌‌in‌‌Transactions.‌ ‌Margin‌‌requirements,‌‌interest‌‌rates‌‌and‌‌external‌‌charges‌‌may‌‌change‌‌at‌‌any‌‌time‌‌and‌‌are‌‌hypothetical‌‌only.‌‌Please‌‌refer‌‌to‌‌Trading‌‌Conditions‌‌prior‌‌to‌‌trading.‌ ‌You‌‌are‌‌reminded‌‌that‌‌OANDA‌‌may‌‌set‌‌a‌‌lower‌‌Margin‌‌Closeout‌‌Level‌‌and‌‌so‌‌you‌‌should‌‌also‌‌
not‌‌assume‌‌that‌‌OANDA‌‌will‌‌apply‌‌an‌‌automatic‌‌Close‌‌Out‌‌if‌‌its‌‌internal‌‌Margin‌‌Closeout‌‌Level‌‌is‌‌exceeded.‌‌You‌‌should‌‌decide‌‌your‌‌own‌‌exit‌‌levels‌‌and‌‌monitor‌‌your‌‌positions.‌ ‌OANDA‌‌does‌‌not‌‌guarantee‌‌that‌‌you‌‌will‌‌avoid‌‌losses‌‌or‌‌that‌‌your‌‌Orders‌‌can‌‌be‌‌implemented‌‌in‌‌every‌‌scenario.‌ ‌

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Section‌‌8‌‌–‌‌Glossary‌ ‌ABN‌‌‌means‌‌Australian‌‌Business‌‌Number.‌ ‌Account‌ ‌means‌ ‌your‌ ‌account‌ ‌with‌ ‌OANDA‌ ‌established‌ ‌under‌ ‌the‌ ‌Account‌ ‌Terms,‌ ‌including‌ ‌all‌‌Transactions‌‌recorded‌‌in‌‌them,‌‌for‌‌using‌‌the‌‌Electronic‌‌Trading‌‌Platform.‌ ‌Account‌‌Terms‌‌means‌‌the‌‌terms‌‌of‌‌your‌‌Account‌‌with‌‌OANDA‌‌for‌‌all‌‌of‌‌your‌‌Accounts‌‌by‌‌which‌‌you‌‌deal‌‌
in‌‌Transactions‌‌(as‌‌amended‌‌from‌‌time‌‌to‌‌time).‌‌Variations‌‌or‌‌additional‌‌terms‌‌may‌‌be‌‌notified‌‌to‌‌you‌‌from‌‌time‌‌to‌‌time‌‌in‌‌accordance‌‌with‌‌your‌‌current‌‌Account‌‌Terms.‌ ‌Account‌‌Value‌‌‌means‌‌the‌‌current‌‌value‌‌of‌‌your‌‌Account‌‌which‌‌is‌‌calculated‌‌by‌‌OANDA‌‌by‌‌combining:‌ ‌·‌‌t‌he‌‌equivalent‌‌balance‌‌of‌‌your‌‌Account‌‌in‌‌the‌‌OANDA‌‌client‌‌moneys‌‌trust‌‌account;‌ ‌·‌‌t‌he‌‌Realised/Unrealised‌‌Losses‌‌and‌‌Realised/Unrealised‌‌Profits;‌ ‌·‌‌i‌ndicative‌‌costs‌‌to‌‌Close‌‌(fees,‌‌Finance‌‌Charges);‌‌and‌ ‌·‌‌t‌he‌‌values‌‌of‌‌Transactions‌‌not‌‌yet‌‌booked.‌ ‌AML‌ ‌Laws‌ ‌means‌ ‌the‌ ‌Anti-Money‌ ‌Laundering‌ ‌and‌ ‌Counter‌ ‌Terrorism‌ ‌Financing‌ ‌Act‌ ‌2006‌‌(Commonwealth)‌‌and‌‌any‌‌related‌‌regulations,‌‌rules‌‌and‌‌instruments.‌ ‌Ask‌‌means‌‌the‌‌price‌‌which‌‌OANDA‌‌as‌‌the‌‌seller‌‌is‌‌willing‌‌to‌‌accept‌‌i.e.,‌‌the‌‌price‌‌at‌‌which‌‌you‌‌can‌‌buy‌‌the‌‌contract.‌‌This‌‌is‌‌also‌‌known‌‌as‌‌the‌‌“offer‌‌price”.‌ ‌ASX‌‌‌means‌‌the‌‌currencies‌‌and‌‌other‌‌Exchanges‌‌operated‌‌by‌‌ASX‌‌Limited.‌ ‌ATO‌‌‌means‌‌the‌‌Australian‌‌Taxation‌‌Office.‌ ‌Australian‌‌Dollars‌‌‌or‌A‌ UD$‌‌‌means‌‌the‌‌lawful‌‌currency‌‌of‌‌the‌‌Commonwealth‌‌of‌‌Australia.‌ ‌Balance‌‌‌means‌‌the‌‌funds‌‌available‌‌in‌‌an‌‌Account‌‌that‌‌may‌‌be‌‌used‌‌for‌‌trading‌‌the‌‌contracts.‌ ‌Base‌ ‌Currency‌ ‌is‌ ‌the‌ ‌first‌ ‌currency‌ ‌quoted‌ ‌in‌‌a‌‌currency‌‌pair,‌‌for‌‌example‌‌in‌‌the‌‌quote‌‌AUD/USD,‌‌the‌‌
AUD‌‌is‌‌the‌‌Base‌‌Currency.‌ ‌Bid‌‌means‌‌the‌‌price‌‌which‌‌OANDA‌‌as‌‌the‌‌buyer‌‌is‌‌willing‌‌to‌‌accept‌‌i.e.,‌‌the‌‌price‌‌at‌‌which‌‌you‌‌can‌‌sell‌‌the‌‌contract.‌ ‌Business‌‌Day‌‌‌means‌‌a‌‌weekday‌‌which‌‌is‌‌not‌‌a‌‌gazetted‌‌public‌‌holiday‌‌in‌‌Sydney.‌ ‌Client‌‌‌refers‌‌to‌‌the‌‌person‌‌who‌‌has‌‌an‌‌Account‌‌with‌‌OANDA.‌ ‌Close‌‌Out,‌‌Closed‌‌Out‌‌and‌‌Closing‌‌Out‌‌in‌‌relation‌‌to‌‌a‌‌Transaction‌‌means‌‌discharging‌‌or‌‌satisfying‌‌the‌‌obligations‌‌of‌‌the‌‌Client‌‌and‌‌OANDA‌‌under‌‌the‌‌transaction‌‌and‌‌this‌‌includes‌‌matching‌‌up‌‌the‌‌Transaction‌‌with‌ ‌another‌ ‌Transaction‌ ‌of‌ ‌the‌ ‌same‌ ‌kind‌ ‌under‌ ‌which‌ ‌the‌ ‌Client‌ ‌has‌ ‌assumed‌‌an‌‌offsetting‌‌opposite‌‌position.‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

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Closing‌‌Value‌‌means‌‌the‌‌value‌‌determined‌‌by‌‌OANDA‌‌by‌‌multiplying‌‌the‌‌number‌‌of‌‌your‌‌contract‌‌by‌‌the‌‌price‌‌(or,‌‌if‌‌an‌‌index,‌‌the‌‌level)‌‌of‌‌the‌‌contract.‌ ‌Commission‌ ‌Charges‌ ‌means‌ ‌the‌ ‌commission‌ ‌charged‌ ‌to‌ ‌your‌ ‌Account‌‌calculated‌‌in‌‌accordance‌‌with‌‌the‌‌Pricing‌‌Sheet.‌ ‌Commodity‌‌Transaction‌‌means‌‌a‌‌transaction‌‌to‌‌buy‌‌or‌‌sell‌‌a‌‌specific‌‌quantity‌‌of‌‌a‌‌described‌‌commodity‌‌or‌ ‌to‌‌make‌‌a‌‌payment‌‌calculated‌‌by‌‌reference‌‌to‌‌changes‌‌in‌‌the‌‌level‌‌of‌‌an‌‌index‌‌or‌‌interest‌‌rate,‌‌at‌‌an‌‌agreed‌‌date‌‌in‌‌the‌‌future.‌ ‌Contract‌ ‌Value‌ ‌means‌ ‌the‌ ‌face‌ ‌value‌ ‌of‌ ‌the‌ ‌contract,‌ ‌and‌ ‌is‌ ‌calculated‌ ‌by‌ ‌OANDA‌‌by‌‌multiplying‌‌the‌‌applicable‌‌price‌‌(or,‌‌if‌‌an‌‌index,‌‌the‌‌level)‌‌of‌‌the‌‌contract‌‌by‌‌the‌‌number‌‌of‌‌contracts.‌ ‌Core‌‌Pricing‌‌‌means‌‌OANDA’s‌‌optional‌‌commission‌‌based‌‌on‌‌pricing‌‌model‌‌for‌‌Trades.‌ ‌Corporations‌‌Act‌‌‌means‌‌the‌‌Corporations‌‌Act‌‌2001‌‌(Commonwealth).‌ ‌Electronic‌ ‌Trading‌ ‌Platform‌ ‌means‌ ‌any‌ ‌of‌ ‌the‌‌online‌‌trading‌‌platforms‌‌provided‌‌by‌‌OANDA,‌‌however‌‌they‌‌are‌‌delivered‌‌for‌‌accessing‌‌your‌‌Account‌‌and‌‌placing‌‌Orders.‌ ‌Exchange‌‌means‌‌the‌‌relevant‌‌market‌‌or‌‌any‌‌other‌‌exchange‌‌or‌‌market‌‌on‌‌which‌‌the‌‌relevant‌‌Underlying‌‌
Security‌‌trades‌‌or,‌‌in‌‌the‌‌case‌‌of‌‌an‌‌index,‌‌to‌‌which‌‌it‌‌relates.‌ ‌Finance‌‌Charge‌‌means‌‌a‌‌charge‌‌payable‌‌by‌‌you‌‌in‌‌respect‌‌of‌‌your‌‌Transaction,‌‌in‌‌accordance‌‌with‌‌the‌‌Account‌ ‌Terms.‌ ‌This‌ ‌is‌ ‌sometimes‌ ‌referred‌ ‌to‌ ‌as‌ ‌“interest‌ ‌charge”‌ ‌in‌ ‌this‌ ‌PDS‌ ‌and‌ ‌on‌ ‌the‌ ‌Electronic‌‌
Trading‌‌Platform.‌ ‌Finance‌ ‌Credit‌ ‌means‌ ‌a‌ ‌payment‌ ‌(or‌ ‌credit)‌ ‌to‌ ‌you‌ ‌by‌ ‌OANDA‌ ‌in‌ ‌respect‌ ‌of‌ ‌your‌ ‌Transaction,‌ ‌in‌‌accordance‌‌with‌‌the‌‌Account‌‌Terms.‌‌This‌‌is‌‌sometimes‌‌referred‌‌to‌‌as‌‌“interest‌‌credit”‌‌in‌‌this‌‌PDS‌‌and‌‌on‌‌the‌‌Electronic‌‌Trading‌‌Platform.‌ ‌FX‌‌Contract‌‌‌means‌‌an‌‌OTC‌‌contract‌‌which‌‌is‌‌a‌‌foreign‌‌exchange‌‌contract.‌ ‌Gapping‌i‌s‌‌when‌‌a‌‌trading‌‌instrument‌‌opens‌‌above‌‌or‌‌below‌‌the‌‌previous‌‌day’s‌c‌ lose‌‌‌with‌‌no‌‌trading‌‌
activity‌‌in‌‌between.‌‌Intraday‌‌Gapping‌‌is‌‌when‌‌a‌‌trading‌‌instrument‌‌trades‌‌at‌‌a‌‌price‌‌away‌‌from‌‌the‌‌previous‌‌traded‌‌price‌‌without‌‌trades‌‌occurring‌‌at‌‌intervening‌‌prices.‌ ‌Guaranteed‌‌Stop‌‌Loss‌‌Order‌‌(GSLO)‌U‌ nlike‌‌stop-loss‌‌orders,‌G‌ SLOs‌‌‌protect‌‌your‌‌positions‌‌by‌‌guaranteeing‌‌to‌‌exit‌‌your‌‌trades‌‌at‌‌the‌‌exact‌‌price‌‌you‌‌specify,‌‌regardless‌‌of‌‌market‌‌volatility.‌G‌ SLOs‌‌incur‌‌a‌‌fee‌‌(or‌G‌ SLO‌‌‌premium),‌‌but‌‌this‌‌is‌‌only‌‌charged‌‌if‌‌the‌G‌ SLO‌‌‌is‌‌triggered.‌ ‌Home‌‌Currency‌‌Conversion‌‌Fee‌‌‌means‌‌a‌‌fee‌‌charged‌‌to‌‌your‌‌account‌‌for‌‌converting‌‌the‌‌profits‌‌and‌‌losses‌‌that‌‌you‌‌incur‌‌in‌‌a‌‌currency‌‌other‌‌than‌‌your‌‌home‌‌currency‌‌into‌‌your‌‌home‌‌currency‌‌at‌‌a‌‌rate‌‌
which‌‌is‌‌determined‌‌by‌‌OANDA.‌ ‌Hedge‌ ‌Counterparty‌ ‌means‌ ‌a‌ ‌person‌ ‌with‌ ‌whom‌ ‌OANDA‌ ‌enters‌ ‌into‌ ‌a‌ ‌hedge‌ ‌contract‌ ‌to‌ ‌hedge‌‌
OANDA's‌‌exposure‌‌to‌‌Client‌‌positions.‌ ‌Inactivity‌‌Fee‌‌‌means‌‌a‌‌charge‌‌to‌‌your‌‌account,‌‌calculated‌‌in‌‌accordance‌‌with‌‌Section‌‌3‌‌of‌‌the‌‌PDS.‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

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‌
Initial‌‌Margin‌‌means‌‌the‌‌amount‌‌which‌‌you‌‌are‌‌required‌‌to‌‌pay‌‌to‌‌OANDA‌‌as‌‌the‌‌initial‌‌Margin‌‌to‌‌open‌‌a‌‌position.‌ ‌IDR‌‌‌means‌‌Internal‌‌Dispute‌‌Resolution,‌‌see‌‌page‌‌39‌ ‌JPY‌‌‌means‌‌the‌‌lawful‌‌currency‌‌of‌‌Japan.‌ ‌Legacy‌ ‌Trading‌ ‌Engine‌ ‌means‌ ‌the‌ ‌historic‌ ‌trading‌ ‌engine‌ ‌used‌ ‌in‌ ‌accounts‌ ‌opened‌ ‌prior‌ ‌to‌ ‌22nd‌‌
October‌‌2015‌ ‌Leverage‌‌Ratio‌‌means‌‌the‌‌ratio‌‌set‌‌by‌‌OANDA‌‌which‌‌enables‌‌the‌‌Client‌‌to‌‌open‌‌a‌‌Transaction‌‌with‌‌an‌‌exposure‌‌referable‌‌to‌‌that‌‌ratio.‌ ‌Liquidity‌d‌ escribes‌‌the‌‌degree‌‌to‌‌which‌‌an‌a‌ sset‌‌‌or‌s‌ ecurity‌‌‌can‌‌be‌‌quickly‌‌bought‌‌or‌‌sold‌‌in‌‌the‌‌market‌‌at‌‌a‌‌price‌
Margin‌ ‌means‌ ‌the‌ ‌amount‌ ‌of‌ ‌cash‌ ‌or‌ ‌other‌ ‌assets‌ ‌paid‌ ‌to‌ ‌OANDA‌ ‌and‌ ‌credited‌ ‌to‌ ‌your‌ ‌Account‌ ‌as‌‌
Margin.‌ ‌Margin‌‌Call‌‌means‌‌a‌‌demand‌‌for‌‌additional‌‌funds‌‌made‌‌to‌‌the‌‌client‌‌by‌‌OANDA‌‌to‌‌meet‌‌any‌‌additional‌‌
margin‌‌requirement.‌ ‌Margin‌ ‌Closeout‌ ‌means‌ ‌an‌ ‌automatic‌ ‌Close‌ ‌Out‌ ‌of‌ ‌Open‌ ‌Positions‌ ‌which‌ ‌occurs‌ ‌when‌ ‌the‌ ‌Account‌‌
Value‌‌falls‌‌to‌‌a‌‌level‌‌that‌‌does‌‌not‌‌meet‌‌the‌‌Margin‌‌Cover.‌ ‌Margin‌‌Closeout‌‌Level‌‌means‌‌the‌‌level‌‌at‌‌which‌‌there‌‌will‌‌be‌‌an‌‌automatic‌‌Close‌‌Out‌‌of‌‌all‌‌of‌‌your‌‌Open‌‌
Positions‌‌which‌‌occurs‌‌when‌‌the‌‌Account‌‌Value‌‌falls‌‌to‌‌a‌‌level‌‌that‌‌does‌‌not‌‌meet‌‌the‌‌Margin‌‌Cover.‌ ‌Margin‌‌Cover‌‌means‌‌the‌‌minimum‌‌amount‌‌of‌‌Margin‌‌required‌‌to‌‌be‌‌maintained‌‌in‌‌your‌‌Account‌‌before‌‌the‌‌Account‌‌Value‌‌reaches‌‌the‌‌Margin‌‌Closeout‌‌Level.‌ ‌Negative‌ ‌Balance‌ ‌Protection‌ ‌ensures‌ ‌that‌ ‌retail‌ ‌clients‌ ‌can‌ ‌not‌ ‌lose‌ ‌more‌ ‌than‌ ‌the‌ ‌balance‌ ‌on‌ ‌an‌‌account‌ ‌in‌ ‌accordance‌ ‌with‌ ‌ASIC‌ ‌(Product‌‌Intervention‌‌Order-Contracts‌‌for‌‌Difference)‌‌Instrument‌‌
2020/986.‌ ‌OANDA‌‌‌means‌‌OANDA‌‌Australia‌‌Pty‌‌Limited‌‌ACN‌‌152‌‌088‌‌349;‌‌AFSL‌‌412981.‌ ‌OANDA‌ ‌CFD‌ ‌means‌ ‌an‌ ‌OTC‌ ‌contract,‌ ‌known‌ ‌as‌ ‌a‌ ‌“contract‌ ‌for‌ ‌difference”‌ ‌issued‌ ‌by‌‌OANDA‌‌for‌‌the‌‌parties‌‌to‌‌pay‌‌in‌‌cash‌‌the‌‌difference‌‌in‌‌prices/index‌‌level‌‌of‌‌securities‌‌on‌‌the‌‌terms‌‌of‌‌the‌‌Account‌‌Terms.‌ ‌OANDA‌ ‌Client‌ ‌Moneys‌ ‌Trust‌ ‌Account‌ ‌means‌ ‌the‌ ‌bank‌ ‌account‌ ‌(or‌ ‌any‌ ‌one‌ ‌of‌ ‌several‌ ‌of‌ ‌them)‌‌maintained‌‌by‌‌OANDA‌‌as‌‌a‌‌trust‌‌account‌‌under‌‌section‌‌981B‌‌of‌‌the‌‌Corporations‌‌Act.‌‌The‌‌moneys‌‌held‌‌in‌‌it‌‌beneficially‌‌for‌‌you‌‌are‌‌credited‌‌to‌‌your‌‌Account.‌ ‌OANDA‌ ‌Commodity‌ ‌CFD‌‌means‌‌an‌‌OANDA‌‌CFD‌‌(issued‌‌by‌‌OANDA)‌‌whose‌‌Underlying‌‌Security‌‌is‌‌a‌‌Commodity‌‌Transaction.‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

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OANDA‌‌fxTrade‌‌means‌‌the‌‌electronic‌‌trading‌‌platform‌‌made‌‌available‌‌by‌‌OANDA‌‌to‌‌enable‌‌the‌‌Client‌‌to‌‌deal‌‌in‌‌OANDA‌‌CFDs‌‌and‌‌OANDA‌‌FX‌‌Contracts.‌ ‌OANDA‌ ‌Index‌ ‌CFD‌ ‌means‌ ‌an‌ ‌OANDA‌ ‌CFD‌ ‌whose‌ ‌Underlying‌ ‌Security‌ ‌is‌ ‌an‌ ‌index‌ ‌comprised‌ ‌of‌‌securities‌ ‌of‌ ‌issuers‌ ‌listed‌‌on‌‌an‌‌Exchange,‌‌typically‌‌an‌‌index‌‌sponsored‌‌or‌‌promoted‌‌by‌‌an‌‌Exchange.‌‌
The‌ ‌S&P™/‌ ‌ASX‌ ‌200™‌ ‌is‌ ‌an‌ ‌example,‌‌so‌‌a‌‌S&P™/‌‌ASX‌‌200™‌‌OANDA‌‌Index‌‌Contract‌‌is‌‌an‌‌OANDA‌‌
CFD‌‌whose‌‌Underlying‌‌Security‌‌is‌‌the‌‌S&P™/‌‌ASX‌‌200™‌‌and‌‌the‌‌values‌‌are‌‌based‌‌on‌‌the‌‌index‌‌levels‌‌of‌‌the‌‌S&P™/‌‌ASX‌‌200™.‌‌The‌‌index‌‌sponsor‌‌has‌‌no‌‌involvement‌‌in‌‌the‌‌OANDA‌‌CFD.‌ ‌OANDA‌ ‌MT4‌ ‌means‌ ‌the‌ ‌Meta‌ ‌Trader‌ ‌4‌ ‌electronic‌ ‌trading‌ ‌platform‌ ‌made‌ ‌available‌ ‌and‌ ‌re-branded‌ ‌by‌‌
OANDA‌‌to‌‌enable‌‌the‌‌Client‌‌to‌‌deal‌‌in‌‌the‌‌contracts.‌‌Meta‌‌Trader‌‌4‌‌is‌‌provided‌‌by‌‌MetaQuotes‌‌Software‌‌Corp,‌‌a‌‌company‌‌located‌‌in‌‌Nassau,‌‌Bahamas.‌ ‌OANDA‌ ‌Treasury‌ ‌CFD‌ ‌means‌ ‌an‌ ‌OANDA‌ ‌CFD‌ ‌whose‌ ‌Underlying‌ ‌Security‌ ‌is‌ ‌a‌ ‌bond‌ ‌or‌ ‌similar‌ ‌fixed‌‌
income‌‌securities‌‌issued‌‌by‌‌a‌‌government,‌‌government‌‌entity,‌‌a‌‌bank‌‌or‌‌other‌‌entity.‌ ‌Open‌‌Position‌‌means,‌‌at‌‌any‌‌time,‌‌a‌‌Transaction‌‌which‌‌has‌‌not‌‌been‌‌Closed‌‌Out,‌‌or‌‌settled‌‌prior‌‌to‌‌the‌‌time‌‌agreed‌‌for‌‌settlement.‌ ‌Order‌‌‌means‌‌any‌‌instruction‌‌provided‌‌by‌‌you‌‌to‌‌enter‌‌into‌‌a‌‌Transaction‌‌or‌‌to‌‌Close‌‌Out‌‌a‌‌Transaction.‌ ‌OTC‌m‌ eans‌‌over-the-counter‌‌(in‌‌contrast‌‌with‌‌exchange‌‌traded).‌ ‌OTC‌‌Contract‌‌means‌‌an‌‌over-the-counter‌‌contract‌‌for‌‌a‌‌financial‌‌product,‌‌including‌‌options‌‌and‌‌contracts‌‌
in‌‌respect‌‌of‌‌foreign‌‌exchange‌‌or‌‌other‌‌commodities,‌‌such‌‌as‌‌metals.‌ ‌Price‌ ‌Sheet‌ ‌means‌ ‌the‌ ‌then‌ ‌current‌ ‌OANDA‌ ‌Core‌ ‌Pricing‌ ‌and‌ ‌Commission‌ ‌Price‌ ‌Sheets‌ ‌as‌ ‌updated‌‌from‌ ‌time‌ ‌to‌ ‌time‌ ‌by‌ ‌OANDA‌ ‌and‌ ‌set‌ ‌forth‌ ‌on‌ ‌OANDA’s‌ ‌Web‌ ‌site‌ ‌at‌‌https://www.oanda.com/help/policies/au/price-card‌ ‌Professional‌ ‌Trader‌ ‌Account‌ ‌is‌ ‌available‌ ‌to‌ ‌those‌ ‌retail‌ ‌clients‌ ‌that‌ ‌wish‌ ‌to‌ ‌apply‌ ‌to‌‌be‌‌assessed‌‌as‌‌either‌ ‌a‌ ‌Sophisticated‌ ‌Investor‌ ‌or‌ ‌a‌ ‌Wholesale‌ ‌Client‌ ‌as‌ ‌per‌ ‌the‌ ‌requirements‌ ‌of‌ ‌the‌ ‌Corporations‌‌Act‌‌
2001:‌ ‌a. Being‌‌a‌‌wholesale‌‌client‌‌as‌‌defined‌‌in‌‌section‌‌761G(7)(c)‌‌of‌‌the‌‌Corporations‌‌Act‌‌2001‌‌and‌‌assessed‌‌by‌‌OANDA,‌‌under‌‌OANDA's‌‌Wholesale‌‌Client‌‌and‌‌Sophisticated‌‌Investor‌‌Conditions,‌‌as‌‌having‌‌sufficient‌‌experience‌‌and‌‌financial‌‌literacy‌‌to‌‌understand‌‌how‌‌over-the-counter‌‌
contracts‌‌for‌‌difference‌‌work,‌‌the‌‌risks‌‌associated‌‌with‌‌trading‌‌in‌‌these‌‌products‌‌and‌‌the‌‌ability‌‌and‌‌judgment‌‌to‌‌adequately‌‌manage‌‌these‌‌risks.‌ ‌b. Being‌‌a‌‌sophisticated‌‌investor‌‌as‌‌defined‌‌in‌‌section‌‌761GA‌‌of‌‌the‌‌Corporations‌‌Act‌‌2001.‌ ‌Further‌‌information‌‌is‌‌available‌‌on‌‌the‌‌OANDA‌‌
website:‌https://www.oanda.com/au-en/trading/au-professional-trading-account/‌
Realised/Unrealised‌‌Loss‌‌‌means:‌ ‌●realised‌‌loss‌‌–‌‌the‌‌amount‌‌by‌‌which‌‌the‌‌value‌‌of‌‌an‌‌Open‌‌Position‌‌on‌‌Close‌‌Out‌‌is‌‌less‌‌than‌‌the‌‌value‌‌of‌‌the‌‌Open‌‌Position‌‌when‌‌the‌‌Open‌‌Position‌‌was‌‌last‌‌valued‌‌or‌‌if‌‌the‌‌Open‌‌Position‌‌has‌‌never‌‌been‌‌valued‌‌previously,‌‌it‌‌is‌‌the‌‌value‌‌when‌‌the‌‌position‌‌was‌‌opened;‌‌and‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

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unrealised‌‌loss‌‌–‌‌the‌‌amount‌‌by‌‌which‌‌the‌‌value‌‌of‌‌an‌‌Open‌‌Position‌‌(not‌‌on‌‌Close‌‌Out)‌‌is‌‌less‌‌than‌‌the‌‌value‌‌of‌‌the‌‌Open‌‌Position‌‌when‌‌it‌‌was‌‌last‌‌valued‌‌or‌‌if‌‌the‌‌Open‌‌Position‌‌has‌‌never‌‌been‌‌valued‌‌previously,‌‌it‌‌is‌‌the‌‌value‌‌when‌‌the‌‌position‌‌was‌‌opened.‌ ‌Realised/Unrealised‌‌Profit‌‌‌means:‌ ‌●●realised‌‌profit‌‌–‌‌the‌‌amount‌‌by‌‌which‌‌the‌‌value‌‌of‌‌an‌‌Open‌‌Position‌‌on‌‌Close‌‌Out‌‌is‌‌more‌‌than‌‌the‌‌value‌‌of‌‌the‌‌Open‌‌Position‌‌when‌‌the‌‌Open‌‌Position‌‌was‌‌last‌‌valued‌‌or‌‌if‌‌the‌‌Open‌‌Position‌‌has‌‌never‌‌been‌‌valued‌‌previously,‌‌the‌‌value‌‌when‌‌the‌‌position‌‌was‌‌opened;‌‌and‌ ‌unrealised‌‌profit‌‌–‌‌the‌‌amount‌‌by‌‌which‌‌the‌‌value‌‌of‌‌an‌‌Open‌‌Position‌‌(not‌‌on‌‌Close‌‌Out)‌‌is‌‌more‌‌than‌‌the‌‌value‌‌of‌‌the‌‌Open‌‌Position‌‌when‌‌it‌‌was‌‌last‌‌valued‌‌or‌‌if‌‌the‌‌Open‌‌Position‌‌has‌‌never‌‌been‌‌valued‌‌previously,‌‌the‌‌value‌‌when‌‌the‌‌position‌‌was‌‌opened.‌ ‌SEK‌‌‌means‌‌Swedish‌‌krona‌‌or‌‌the‌‌lawful‌‌currency‌‌of‌‌Sweden.‌‌ ‌Slippage‌r‌ efers‌‌to‌‌the‌‌difference‌‌between‌‌the‌‌expected‌‌price‌‌of‌‌a‌‌trade‌‌and‌‌the‌‌price‌‌at‌‌which‌‌the‌‌trade‌‌is‌‌executed.‌‌Slippage‌‌can‌‌occur‌‌at‌‌any‌‌time‌‌but‌‌is‌‌most‌‌prevalent‌‌during‌‌periods‌‌of‌‌higher‌v‌ olatility‌‌‌when‌‌market‌‌orders‌‌are‌‌used.‌‌It‌‌can‌‌also‌‌occur‌‌when‌‌a‌‌large‌‌order‌‌is‌‌executed‌‌but‌‌there‌‌isn't‌‌enough‌‌volume‌‌at‌‌the‌‌chosen‌‌price‌‌to‌‌maintain‌‌the‌‌current‌‌bid/ask‌‌spread.‌ ‌Term‌‌Currency‌‌‌is‌‌the‌‌second‌‌currency‌‌quoted‌‌in‌‌a‌‌currency‌‌pair,‌‌for‌‌example‌‌for‌‌the‌‌quote‌‌AUD/USD,‌‌the‌‌Term‌‌Currency‌‌is‌‌the‌‌USD.‌ ‌TFN‌‌‌means‌‌tax‌‌file‌‌number.‌ ‌TMD‌‌‌means‌‌Target‌‌Market‌‌Determination,‌‌see‌‌page‌‌3.‌ ‌Trading‌‌Conditions‌‌‌means‌‌the‌‌operating‌‌rules‌‌and‌‌conditions‌‌for‌‌your‌‌trading‌‌on‌‌the‌‌Electronic‌‌Trading‌‌
Platform‌‌from‌‌time‌‌to‌‌time.‌ ‌Transaction‌‌‌means‌‌any‌‌of‌‌the‌‌kinds‌‌of‌‌contracts‌‌which‌‌are‌‌traded‌‌under‌‌the‌‌Account‌‌Terms.‌ ‌Underlying‌‌Index‌‌‌means‌‌the‌‌Underlying‌‌Security‌‌which‌‌is‌‌an‌‌index‌‌when‌‌it‌‌is‌‌used‌‌as‌‌the‌‌basis‌‌for‌‌the‌‌calculations‌‌of‌‌prices‌‌for‌‌the‌‌OANDA‌‌Index‌‌Contract.‌ ‌Underlying‌‌Security‌‌‌means‌‌the‌‌instrument‌‌which‌‌is‌‌used‌‌as‌‌the‌‌basis‌‌for‌‌the‌‌calculations‌‌of‌‌prices‌‌for‌‌your‌‌contracts.‌ ‌USD‌‌‌or‌U‌ S‌‌Dollars‌‌‌means‌‌United‌‌States‌‌Dollar‌‌or‌‌the‌‌lawful‌‌currency‌‌of‌‌the‌‌United‌‌States‌‌of‌‌America.‌ ‌V20‌‌Trading‌‌Engine‌‌‌means‌‌the‌‌new‌‌evolution‌‌of‌‌OANDA's‌‌trading‌‌engine‌‌available‌‌from‌‌the‌‌22nd‌‌of‌‌
October‌‌2015.‌‌All‌‌new‌‌accounts‌‌and‌‌sub‌‌accounts‌‌from‌‌this‌‌date‌‌will‌‌utilise‌‌the‌‌v20‌‌Trading‌‌Engine.‌ ‌Variation‌‌Margin‌‌‌or‌‌mark‌‌to‌‌market‌‌is‌‌not‌‌collateral,‌‌but‌‌a‌‌constant‌‌payment‌‌of‌‌profits‌‌and‌‌losses.‌‌OANDA‌‌Products‌‌are‌‌marked-to-market‌‌in‌‌real‌‌time,‌‌so‌‌the‌‌current‌‌price‌‌is‌‌compared‌‌to‌‌the‌‌opening‌‌
transaction‌‌price‌‌of‌‌the‌‌OANDA‌‌Product.‌‌The‌‌profit‌‌or‌‌loss‌‌of‌‌a‌‌position‌‌is‌‌then‌‌paid‌‌to‌‌or‌‌debited‌‌from‌‌the‌‌trading‌‌account‌‌in‌‌real‌‌time.‌ ‌Volume‌‌Weighted‌‌Average‌‌Price‌‌(VWAP)‌m‌ eans‌‌a‌‌measure‌‌of‌‌the‌‌average‌‌trading‌‌price‌‌for‌‌a‌‌period‌‌
based‌‌on‌‌both‌‌price‌‌and‌‌volume.‌ ‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

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Withdrawable‌‌Funds‌‌‌means‌‌the‌‌amount‌‌of‌‌cash‌‌which‌‌may‌‌be‌‌paid‌‌to‌‌you‌‌from‌‌the‌‌Account‌‌if‌‌requested.‌‌There‌‌are‌‌Withdrawable‌‌Funds‌‌only‌‌if‌‌you‌‌have‌‌excess‌‌Margin‌‌Cover.‌‌The‌‌amount‌‌of‌‌the‌‌Withdrawable‌‌Funds‌‌is‌‌the‌‌lesser‌‌of‌‌the‌‌Balance‌‌of‌‌your‌‌Account‌‌and‌‌the‌‌Margin‌‌Cover.‌ ‌‌‌‌OANDA‌‌Australia‌‌Pty‌‌Ltd‌

ACN‌‌152‌‌088‌‌349‌

AFSL‌‌412981‌ ‌50‌ ‌