Exness Review
OANDA Demo Account
Overall, OANDA offers a free demo account option on all its retail trading accounts. OANDA is a multi-regulated forex broker with 11 Tier-1 (High Trust) and 2 Tier-3 (Low Trust) regulators. OANDA has a Trust Score of 92% out of 100.
- Louis Schoeman
Jump to:
Demo Account Overview
How to Setup a Demo Account
Demo Account Features
Pros and Cons
Final Verdict
FAQ
Overall Rating
- 4.9/5
Min Deposit
USD 0
Regulators
ASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA
Trading Desk
Metatrader 4 and Metatrader 5
Crypto
Yes
Total Pairs
45
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
OANDA Demo Account – 5 key points quick overview:
How to set up an OANDA Demo Account – Step by Step
➡️ To register for a demo account with Oanda, traders can follow these 5 steps:
Step 1 – Click on the “demo account’ tab.
➡️ Traders can visit the official Oanda website and select “Demo Account” from the homepage.
Step 2 – Select your country of residence.
➡️ A new page will load, and traders can select their country of residence and proceed by clicking “confirm and continue”.
Step 3 – Fill in all your required personal details.
➡️ The relevant application form for the trader’s region will load and traders can complete the required fields by providing their first and last name, email address, and mobile number before clicking “confirm and continue”.
Step 4 – You will be directed to a “thank you” page where you will be able to continue setting up your account.
➡️ Traders will be redirected to a new page that will notify them of the successful creation of their new practice account.
Step 5 – Choose your trading platform.
➡️ Traders can check their email to find their login credentials and the link to the MetaTrader 4 trading platform. Alternatively, traders can use the web or desktop version of MetaTrader 4, or the Oanda proprietary trading platform to access the demo account.
OANDA Demo Account Features
👉 For all account types and services offered by OANDA, demo accounts are accessible.
👉 New traders need a practice account because they provide a secure setting where they can test out various strategies and get a feel for the platform without risking any of their real money.
👉 The demo account offers access to forex, Contracts for Difference (CFDs) on commodities, indices, stocks, and other assets, along with real-time quotes and simulated real-world market conditions.
👉 Botswanans can easily switch to a live trading environment once they are at ease using the platform in a simulated environment.
OANDA Kenya Pros and Cons
Overall Rating
- 4.9/5
Min Deposit
USD 0
Regulators
ASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA
Trading Desk
Metatrader 4 and Metatrader 5
Crypto
Yes
Total Pairs
45
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
Verdict on OANDA
👉 Overall, OANDA is very competitive in terms of its trading fees and spreads.
FAQ
What is the smallest position size that I can trade with OANDA?
The smallest position size you can trade is 0.01 lots, regardless of whether you use a live or practice account.
Is the OANDA demo account free of charge?
The OANDA demo account can be opened for free from the broker website or MetaTrader 4.
How can I top up my OANDA demo account?
You can reset your demo account balance in your account options on the client portal.
Which trading platforms does OANDA support?
OANDA offers MT4 and its proprietary trading platform.
What can I trade with OANDA?
You can trade the following asset classes with OANDA:
- Index CFDs
- Forex
- Metals
- Commodity CFDs
- Bonds CFDs
- Precious Metals
- Real-time Rates
