OANDA Japan Raises Margin Requirements for Silver Trading

OANDA Japan has announced upcoming trading restrictions and a sharp increase in margin requirements for silver trading, citing unstable conditions in the precious metals market. The measures focus on the XAG/USD contract and have an introduction as price swings in silver continue to intensify.

According to the broker, silver has recently experienced rapid price movements accompanied by thin liquidity. These conditions have led to wider spreads and higher exposure risks for both traders and liquidity providers. In response, OANDA Japan says the changes are going to protect client funds and maintain orderly trading during periods of heightened uncertainty.

The most substantial adjustment involves the margin rate for XAG/USD, which will rise from 5% to 20%. This change will take effect at the market open on Monday, February 2, 2026. The higher margin rate will apply to both new positions and existing ones, increasing the maintenance margin required to hold open trades.

OANDA Japan Raises Margin Requirements for Silver Trading

In addition, OANDA Japan has already moved to limit position sizes. From Thursday, January 29, 2026, the maximum order size per trade for XAG/USD will be 50,000 units (10 lots) to 25,000 units (5 lots). The maximum open position per side has also been cut from 100,000 units (20 lots) to 25,000 units (5 lots), restricting overall exposure to silver.

The broker has warned that these changes could trigger forced liquidations when the new margin rules come into force, depending on individual account equity levels. Clients holding XAG/USD positions have to review their exposure, add funds, or reduce position sizes ahead of the February 2 market open to avoid unexpected stop-outs.

OANDA Japan also highlighted that higher volatility has pushed up its own trading and funding costs with counterparties. As a result, margin rates and financing conditions for precious metal CFDs, including both XAG/USD and XAU/USD, may be under adjustment without prior notice if market conditions deteriorate further.

The firm added that, if necessary, it may temporarily suspend new trading in commodity CFDs—particularly silver—to safeguard client capital during extreme market conditions.

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