OANDA Japan raises number of sub-accounts traders can open
Clients of the brokerage who own NY Server may benefit from the offer to open up to 10 sub-accounts, compared to 5 sub-accounts until now.
Retail Forex broker OANDA Japan is enhancing the offering for its clients. Traders who own NY Server trade accounts will be able to open a higher number of sub-accounts. The relevant notice to traders was posted by the brokerage earlier today.
Until now, clients of the broker were able to open up to 5 sub-accounts (the number was 6 with the primary account). Effective today, May 10, 2019, the maximum number of additional accounts one can up becomes 10 accounts (11, if the primary account is included).
The company notes that there is no change for customers who trade only with the Tokyo MT4 server MT4.
There are a raft of reasons for creating additional accounts.
Such a move allows traders to diversify risk. They can use different accounts to use different trading strategies or leverage. In addition, this allows them to hedge or diversify currency rate risk. Further, traders can allocate their funds into different currencies.
Sub-accounts also permit traders to segregate their trades. If one account gets a margin closeout, the trades in other accounts are not affected.
Let’s also note that traders can set up an MT4 account, required to trade on the MetaTrader 4 interface.
Finally, additional accounts enable traders to save on deposit and withdrawal fees or third-party currency exchange charges for certain currencies.