How to open OANDA's Forex and CFD trading account? Table of Contents
How to open a Forex account with OANDA?
- Click here to go to OANDA’s Official Website;
- Click on “Start Trading” button;
- Complete the registration and receive login credentials of your OANDA MT4 account;
- Log in to OANDA’s client portal;
- Make a deposit and start trading.
Go to OANDA’s Account Opening PAge
OANDA MT4 – A powerful trading platform
You can use the desktop MetaTrader 4 and the web version to trade on your computer, and you can also trade through the MetaTrader 4 APP on your mobile phone and tablet.
1. MT4 indicators
On the MT4 platform, you can use multiple powerful technical indicators in the form of indicators and execute transactions directly in the operation interface.
More functions include intraday market scanning, automatic warning of specified patterns, automatic recognition of chart patterns, and pattern quality indicators, etc.
2. Intuitive operation interface
The MetaTrader4 platform provides an intuitive interface that can be customized according to your personal trading preferences.
Trade through charts, get a series of plug-ins, customize layouts, and more.
3. MT4 advanced tools
Get a large number of powerful trading indicators and “small tools” for free, make full use of the precise trading and automatic lightening functions of the trading terminal, and use trend lines to create fine and flexible stop loss and take profit orders.
OANDA MetaTrader 4 desktop version
Use the most advanced automated trading strategies, advanced drawing functions, and many indicators.
- Take full advantage of the OANDA MT4 platform
- The MT4 platform OANDA uses is powerful and intuitive and easy to understand. You can customize the layout, trade in the chart, and use various indicators on the MT4 platform.
- MT4 custom bridge
- OANDA’s first-tier bank quotes are extremely competitive, combined with advanced bridging technology and powerful operating functions, to bring you an unparalleled trading experience.
- Intelligent automatic trading
- The MT4 platform supports intelligent automatic trading (EA) systems, including MT4 indicators. You can also build trading algorithms and back-test trading strategies.
- Chart trading
- Trade directly from 9 time periods and multiple display icons, including every Friday and Sunday candlestick chart of the New York daily closing chart. There are also more than 50 built-in indicators.
OANDA MT4 mobile/tablet version
On the mobile terminal, you can use more than 50 technical tools: 32 overlay indicators, 11 drawing tools, and 9 chart types.
You can download the MT4 app from the Apple app store or Android users from Google Play.
Access OANDA’s full range of CFD markets via mobile phones or tablets.
MT4 mobile supports the desktop platforms and MQL5, and community service push notifications.
- View the transaction price, the chart shows the price of pending orders, as well as the stop-loss price and the take-profit price.
- Configure the properties of graphical objects and indicators (iOS only)
- Information window displays orders, transaction records, emails, news and logs (iPad).
OANDA’s MT4 mobile apps also have advanced mobile chart functions, transaction confirmation, dozens of technical indicators, tools, etc.
- Technical analysis
- Manage your account. Use technical indicators and graphic objects for trading and market analysis, including 30 popular technical indicators, 9 time periods and 24 analysis objects.
- Customizable interface
- You can view up to four charts in the same window, customize the chart color scheme, and easily switch financial instruments on the chart.
- Push notification
- Support push notifications for desktop platforms and MQL5.community community services. When performing transactions, receive notifications and reminders on your mobile phone
Download OANDA MT4 to your mobile
OANDA MT4 Web platform
Log in to MetaTrader 4 directly from your web browser and start trading.
No need to download MT4 to your computer or mobile phone.
- Instant access to MT4 from the browser window
- The web version of MT4 provides the same powerful trading experience as the desktop platform. Have access to all of OANDA’s currency pairs, commodities, and index CFDs.
- One-click trading
- Open or close a position with one click. Use innovative trading tools to view the current status of pending orders and positions.
- Multiple order types
- OANDA provides a series of orders on the MT4 web platform. This includes pending orders.
- Trading through charts
- Trade directly through the chart. You can choose from 9 time periods, including every Friday candle on the New York daily closing price chart.
- Access MT4 via Mac
- You can log in to the OANDA MT4 web version through a Mac without installing a Windows operating system.
- Reliable and safe MT4 interface
- The MT4 web version provides the same stability and security as the desktop platform through a web browser.
Main features of MetaTrader 4 web version
You can directly access all OANDA’s spreads and markets through the MT4 web platform.
OANDA’s web version of the platform is suitable for use on all major operating systems, as well as for Mac OS and Windows.
1. One-click trading
The MT4 web platform provides a variety of powerful functions that are the same as the desktop platform.
- You can open or close a position with one click.
- Use innovative trading tools to view the current status of pending orders and positions
Try One-click trading on OANDA MT4
2. Chart trading
Use MT4’s advanced charts and technical analysis packages to access:
- 9 time periods and an unlimited number of charts.
- Friday candles on the New York daily closing chart.
- 30 technical analysis indicators.
- Orders in the chart.
3. Trade anytime, anywhere through any browser
Through the MT4 web platform, using any operating system, you can access OANDA trading accounts.
- Trade on Mac or Windows desktop.
- Log in from any browser anywhere in the world.
- No need to download MT4 to your system.
- Suitable for all major operating systems.
- Reliable and safe MT4 web interface.
Log in to OANDA MT4 Web Trader
4. Multiple order types
OANDA provides a series of orders on the MT4 web platform, including:
- Loss Limit Order
- Limit order
5. Visit all OANDA’s markets
Through the MT4 web platform, you can access all of OANDA’s CFD products, including foreign exchange, commodities and indices.
- UK Index 100 from 1.0 pips.
- -USD/Japanese Yen (USD/JPY) and Euro/U.S. Dollar (EUR/USD) starting from 1.0 pips.
See available markets on OANDA MT4
OANDA mobile and tablet apps
Through the MT4 application (APP) on your mobile device or tablet, you can trade anytime, anywhere.
In the APP, you can access OANDA’s full range of CFD markets, use advanced mobile charts, obtain transaction confirmations, use dozens of technical indicators/tools, receive mobile notifications, manage positions, etc.
You can enter your MT4 account on the mobile terminal to trade, and check the position at any time.
- Access to all transaction orders, including pending orders.
- Provide real-time quotes for financial products.
- In-chart trading on the iPad.
- Multiple transaction execution methods.
- Receive notifications and reminders of transaction execution via mobile phone.
1. Advanced Features
Support receiving notifications from the desktop platform and MQL5 Community.
- Provide you with dozens of the latest financial news for free.
- View the transaction price, the chart shows the price of pending orders, as well as the stop-loss price and take profit price.
- Customizable chart color scheme.
- High-performance chart (iOS).
- Configure graphical object and indicator properties (iOS only).
- Up to four charts can be viewed in the same window (iPad).
- Chat with other traders safely and quickly; create group chats and channels (iOS only).
- The information window on the iPad displays orders, transaction history, emails, news, and logs (iOS only).
- Voice notification assisted transaction.
- Quickly switch financial instruments on the chart (Android).
- Chat with MQL5.community registered traders.
2. Technical analysis
Use technical indicators and graphical objects to control accounts, trade and analyze markets
- Interactive real-time price chart with zoom and scroll options.
- 30 most popular technical indicators.
- 24 analytical objects: lines, channels, geometric shapes, and Gann, Fibonacci, and Elliott tools.
- 9 time periods: M1, M5, M15, M30, H1, H4, D1, W1 and MN.
- 3 types of charts: bar chart, Japanese candle chart and broken line chart.
Go to OANDA’s Official Website
3. Obtain transaction confirmation
Log in to your MT4 account through your mobile device, click the chat icon in the lower right corner, and then click MQID to get your own MetaQuotes ID.
You need to add the ID to the MT4 client terminal.
Open the platform and select “Tools”> “Options”> “Notifications”.
Enter your MetaQuotes ID in the box and send yourself a test message.
After enabling “Notify of trade transactions”, a message will be sent to you every time a transaction is executed.
4. Support multiple mobile devices
Trade on the device of your choice
- MT4 mobile version-operating system requirements.
- IOS: iOS 9.0 or higher. Compatible with iPhone, iPad and iPod touch (4.6/5 rating).
- Android: Android 5.0 and above.
Visit OANDA’s Official Website
OANDA’s Market depth feature
OANDA’s Depth of Market Tool (DoM) can help you get the best spreads for many financial products.
The mini terminal in the OANDA Advanced Toolkit of the MT4 platform contains the Depth of Market tool, you only need to click on the spread position of the mini terminal quotation.
The advantage of market depth:
- The spread of the general-scale order transaction of the euro/dollar currency pair is as low as 1.0 pips.
- Make large transactions.
- Transparent quotes and spreads.
The Depth of Market function applies to all asset classes, but the number of price tiers varies from financial product to financial product-some financial products may only have one price tier.
You can open the order and click the Depth of Market/DOM window to view the current price grade of the relevant financial product.
Depth of Market can be used for all available order types.
Including entry (market price, limit price, and limit loss) and exit (stop loss, trailing stop loss, and take profit) orders.
Find out more about OANDA’s Market Depth
How to use market depth tools of OANDA
The mini terminal in the OANDA Advanced Toolkit of the MT4 platform contains the Depth of Market tool, you only need to click on the spread position of the mini terminal quotation.
When you enter the trading volume of an order on the mini terminal, the buy and sell prices at the top of the order will be dynamically updated to show the entry/exit price and spread of the order volume.
If the order volume is greater than the equivalent trading volume of the first tier price, the system will calculate the entry/exit price of the next tier according to the market depth, and so on.
Please note that the normal MT4 order window and the MT4 mobile application do not support the Depth of Market function.
If the order volume is greater than the equivalent trading volume of the first tier price, the market depth tool will highlight the next tier price.
Correspondingly, the system will display the price list and the available trading volume of each price.
If the order volume you enter is greater than the first-tier price (OANDA will implement the first-tier maximum transaction volume), the portion of the order that exceeds the first-tier price will be calculated based on the next-tier price.
This may include multiple prices, depending on the order volume.
The order will highlight the range of price grades used.
If the buying and selling volume of the next price is still not enough to complete the entire order, continue to repeat this process, filling the order step by step along with the market depth, until the entire order is completed.
If the submitted order volume is greater than the total volume of all price levels, the order will be rejected.
For example, if the volume of the first price is 1000 units and the submitted order volume is 1100 units, the first 1000 units of the order will use the first price, and the remaining 100 units will use the second price.
This means that the price to complete an order from multiple prices will use the “Volume Weighted Average Price” (VWAP) calculated from the price of each price in the Depth of Market.
Each price used in the calculation has an impact on the order price, and the weight is the trading volume provided by each price.
The Depth of Market function requires the use of the MT4 mini terminal.
Please click "Introduction of OANDA", if you want to know the details and the company information of OANDA.
IronFX
Comment by Diletta
March 26, 2024
Awesome bonuses, good leverage. A few hiccups, but support rocks!