OANDA USD/JPY Spread & Trading Conditions 2026

OANDA quotes USD/JPY — the US dollar vs Japanese yen pair, a key carry-trade major — with a standard spread of From 0.6 pips (Standard). From 0.6 pips (Standard) places it 3rd out of the 35 brokers we track quoting USD/JPY, tighter than the median of 1.1. On raw/ECN accounts the spread is typically Raw + commission (Core). Spreads are quoted in pips and widen or tighten with market volatility and account type.

Fee context from our review: OANDA offers flexible pricing with Standard accounts (spreads from 0.6 pips, no commission) and Core/Premium accounts (raw spreads from 0.0 pips + commission). No deposit fees, free withdrawals over $10,000. Inactivity fee of $10/month applies after 12 months of no trading. Premium and Elite accounts offer up to 30% spread reduction.

Across the 35 public brokers we track quoting USD/JPY, OANDA ranks 3 against a median of 1.1, putting it among the tightest we track. Ranked on published standard-account quotes — see our [methodology](/our-methodology/).

When trading USD/JPY at OANDA:

Minimum deposit: $0
Maximum leverage: 1:50 (US) | 1:30 (EU/UK) | 1:200 (BVI)
Commission: $5/lot (Core Account)
Execution: Market Maker / V2 Engine
Platforms: OANDA Trade, Advanced Charting (TradingView), MT4

Spreads shown are indicative of the account types we assess. Raw/ECN accounts generally charge a per-lot commission in exchange for tighter raw spreads, while standard accounts build costs into the spread itself.

The USD/JPY spread is driven by liquidity depth, market volatility, the time of day (London and New York sessions are tightest), and the account model you choose. OANDA supports MT4 for spread-sensitive execution.