OANDA – Demo Account

OANDA – Demo Account

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Oanda - Demo Account

 

Overall Rating

4.9/5

Rated #194 of
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

FCA, CFTC, ASIC, FSC, BVI and IIROC

📱 Trading Desk

MetaTrader 4 (MT4)

MetaTrader 5 (MT5)

Crypto

Yes

📈 Total Pairs

45 

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Our OANDA Demo Account Revealed:

 

How to set up a Demo Account – Step by Step

To register a demo account with OANDA, traders can follow these steps:

  • Traders can navigate to the official OANDA website where they can select the “Try Demo” option that can be found on the homepage at the top of the page next to the blue “Start Trading” banner.

 

  • Clicking on this link will load a new page that requires traders to select their country or region from a list of global options.

 

  • To start trading faster, traders are provided with the option of using Facebook Messenger or Telegram to sign-up. Alternatively, traders can proceed manually by selecting the green “Continue with sign-up form.”

 

  • Additional fields will appear, and traders must complete these to continue. Traders can provide a valid email address, their name and surname, and their mobile number.

 

  • Once traders have completed the required fields, their information will be processed, and an email will be sent to the address that traders provided.

 

  • In this email, traders will find the login credentials that they can use to log into their new practice account to start trading using virtual funds.

 

OANDA Demo Account Features

The demo account that OANDA provides traders is not something that is only dedicated for beginners. It is a vital tool that can be used by experienced and professional traders who need to test their trading strategies in live market settings using virtual funds.

 

This allows them to see how their trading strategy will perform and it allows them to tweak their strategy to fit certain metrics better, providing them with an increased chance for profits while effectively managing their risks.

 

Pros and Cons

PROS CONS
The demo account registration is quick and easy Limited account types offered
A demo account is a valuable tool for beginners and more advanced traders Spreads offered are not the tightest
The demo account is a practice account that can be used in live market conditions using virtual funds for trading

 

You might also like: OANDA Account Types

You might also like: OANDA Fees and Spreads

You might also like: OANDA Islamic Account

You might also like: OANDA Minimum Deposit

 

Overall Rating

4.9/5

Rated #194 of
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

FCA, CFTC, ASIC, FSC, BVI and IIROC

📱 Trading Desk

MetaTrader 4 (MT4)

MetaTrader 5 (MT5)

Crypto

Yes

📈 Total Pairs

45 

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

FAQ

What is the difference between a demo and a live trading account?

A demo account is a practice account that can be used by both beginner and professional traders. Beginners can use a demo account to practice their trading while more advanced traders can use it to test their trading strategies.

 

Alternatively, traders can also use a demo account to explore what a broker has to offer. Demo accounts are known for the risk-free environment that they offer along with the virtual funds which are used to trade.

 

Does OANDA offer a demo account?

Yes, OANDA offers a demo account.

 

How long is the demo account valid?

The demo account can be used for an unlimited period but will expire if left dormant for 30 days.

 

Which live trading accounts does OANDA offer?

OANDA offers a Standard and Core Account, with the ability to convert the Standard Account into a Swap-Free Account.

 

Does OANDA offer an Islamic Account?

OANDA offers a swap-free account that can be used by Muslim traders.

 

What are the available deposit currencies for a live trading account?

  • USD
  • EUR
  • HKD
  • SGD