Traders who haven’t touched their OANDA Japan accounts in years could find them gone. On Monday, the online broker reportedly permanently deleted accounts that hadn’t been used in over two years and held no balance.

OANDA Japan, a subsidiary of global brokerage OANDA Corporation, notified clients that the move aligns with its terms for trading OTC derivatives. The policy authorized the broker to cancel inactive accounts, a step it takes periodically to maintain operational compliance and data efficiency.

The company began emailing affected users on May 20 using their registered addresses to inform them of the account cancellation. These emails reportedly serve as formal notice that the accounts have been removed and cannot be recovered.

Re-registration is the Only Option for Return

OANDA Japan clarified that once an account is canceled, it cannot be restored under any circumstances. Former clients who wish to trade again must now reapply through the firm’s website. The process includes submitting identity verification documents anew, in accordance with regulatory requirements.

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This cleanup effort reflects common industry practices where unused accounts, particularly those with no financial activity or funds, are periodically cleared to streamline operations and ensure client data remains up to date.

While the policy has long been part of OANDA Japan’s terms, its enforcement may surprise traders who left their accounts idle without formally closing them.

Service Expansion after FTMO Acquisition

In February, OANDA Global Corporation was sold to FTMO Group. Prior to the deal, the forex and contracts for differences (CFD) brokerage brand entered into the proprietary trading business with the launch of OANDA Labs Trader.

“The team has taken OANDA from a regional foreign exchange provider to a fully diversified offering whilst building upon its historic strengths in regulatory compliance and best-in-class customer support. We would like to thank the entire team at OANDA for their efforts,” Siddharth Patel, Managing Partner at CVC, commented.

Additionally, OANDA expanded its European investment portfolio by launching Exchange-Traded Funds for its clients, the company announced.

This article was written by Jared Kirui at www.financemagnates.com.Retail FXRead More

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