OANDA offers 3 types of trading platforms: Metatrader 4, Metatrader 5 and fxTrade。Compared to all OANDA platforms, fxTrade is still superior。

Since its inception in 1996, OANDA has been providing Internet-based foreign exchange trading and currency information services to retail customers and financial institutions.。With the company's best-in-class and reliable services, it has grown from a small technology company that processes exchange rate data to a cutting-edge fintech giant, most notably fxTrade, the company's award-winning proprietary trading platform.。

OANDA currently offers three types of trading platforms, including Metatrader 4, Metatrader 5 and fxTrade。Why fxTrade is the best OANDA platform？Does it suit you too?？Let's compare these three platforms and choose the best OANDA platform based on your trading style。

Metatrader 4 (MT4)

Since MetaQuotes software was first introduced in 2005, Metatrader 4 has become the most widely used trading platform for Forex and CFD traders worldwide.。What Makes MetaTrader 4 So Popular？There are many reasons。

Once, it was the only trading platform that could be used to recruit multiple brokers。In addition, they have created industry standards through a variety of tools that will never go out of style, even after the emergence of other (possibly more advanced) third-party trading terminals.。

At a minimum, all trading platforms must be able to provide real-time price feedback and on-site technical analysis tools to help traders make decisions and open their own trades, but Metatrader 4 goes further.。

Metatrader 4 users can customize their own indicators, scripts and trading robots (called Expert Advice or EA) using the MQL4 programming language and then test their strategies on the same platform。They can also trade what they create to other traders in the community, or even give it away for free。

In addition, OANDA MT4 contains a large number of functions, is relatively simple to use, customizable, safe, and consumes relatively few computer resources。This environment is particularly attractive for scalpers and beginners, although other types of traders do not need more advanced features。

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OANDA can be an option for traders looking for a precision broker。This is because OANDA is a broker that offers 5-digit accuracy quotes and active price movements that follow market developments.。The broker's orders are also executed faster。

It provides benefits for novice traders because they can use a calculation system based on currency value for smaller trading volumes, which is different from other brokers that use lot systems。

OANDA was founded in 1996 by Dr. Michael Stumm, Lecturer in Computer Engineering at the University of Toronto, Canada, and colleagues at The Olsen Ltd, one of the leading econometric research institutes..Dr. Richard Olsen co-founded the institution。Their headquarters are located in San Francisco, USA。

OANDA Branches Everywhere。Some of these offices are located in the UK, Singapore, Japan and Canada。With the distribution of the number of offices, OANDA increasingly attracts the attention of global customers。

OANDA's companies are registered in several well-known jurisdictions in the field of financial transactions。They are regulated by the US CFTC and NFA, UK FCA, Australian ASIC and others。Traders no longer need to worry about security when trading OANDA。However, these advantages make OANDA's trading rules more stringent than other brokers。

For example, OANDA only allows a maximum leverage of 1: 20 because the rules in the United States and Japan do not allow higher than that leverage。In addition, the registration process is more complicated due to various additional requirements that other forex brokers do not submit。Most importantly, hedging is not allowed in one trading account, as the client must open another account to hedge。

Nevertheless, OANDA is known as a leading broker and offers many advantages。OANDA faces greater market risk during periods of price volatility, such as economic and political news announcements。When market spreads increase or decrease, their pricing engine expands or narrows spreads accordingly。In this way, traders can be more quickly updated on market price movements。

Prices in the market move very quickly, especially when news releases have a large impact on market volatility。Brokers often exploit this situation to take advantage of clients by re-quoting。However, traders do not need to worry about additional fees when trading with OANDA。

Firms never withdraw re-quotes, so traders get maximum profit。When traders cannot monitor open positions, they can set take profit orders to lock in profits and stop loss orders to help prevent further losses。

As an experienced and well-known online forex broker, OANDA is committed to maintaining an efficient trading environment, reducing delays and providing tools to help clients manage acceptable levels of slippage.。

With OANDA's fast and reliable trading platform, customers can trade at 0.Execute within 012 seconds。This is suitable for traders who choose a broker based on execution speed。

Due to this outstanding executive service, it is no surprise that Oanda has won many awards, including the world's best retail forex platform award in the prestigious e-FX awards.。The broker was also rated number one for consistency in executing trades on quote, execution speed and platform reliability.。

There is no minimum deposit or minimum balance requirement to open an OANDA account, both deposits and withdrawals can be done easily。OANDA offers multiple payment method facilities including Paypal, wire transfer, credit and debit cards。Traders can adjust according to the region they live in。

OANDA offers more than 100 trading instruments, including 71 currency pairs, 16 indices, 8 commodities (Brent, copper, corn, natural gas, soybeans, sugar, etc.), 6 bonds and 23 metals.。

fxTrade and MetaTrader platforms available on OANDA。These platforms are available for desktop and mobile devices。Another advantage is that they have OANDA technical analysis in cooperation with Autochartist technical analysis provider。

With these platforms, customers can more easily monitor price movements and automatically identify patterns created on charts and receive alerts when waiting patterns appear。The technology can be used for free。

In summary, OANDA is the ideal broker for traders who need fast execution backed by years of experience.。The firm is also a good choice for those looking for a broker with good regulation and flexible trading and deposit conditions。

Metatrader 5 (MT5)

As the name suggests, Metatrader 5 is the brother of Metatrader 4。However, it is worth noting that Metatrader 5 is a new trading platform launched in 2009, not just an upgraded version of Metatrader 4。

Metatrader 5 offers more technical indicators, more order types, more time frames and more。Metatrader 5 also features an integrated economic calendar, Depth of Market (DoM), community chat and a multi-threaded strategy tester not available on Metatrader 4。Most importantly, Metatrader 5 uses the MQL5 programming language, which is said to execute 20 times faster than MQL4.。

OANDA MT5 has all these features。Therefore, if traders seek to use more advanced tools, they tend to choose MT5。You can trade regularly, while using DoM and various other features to improve your results, and you can also earn additional income by providing signals to others in the community。

fxTrade

Most people consider MetaTrader 4 to be the oldest trading platform for online retail traders。But the fact is that the OANDA platform - fxTrade - was launched earlier for PCs.。OANDA even developed an API for automated trading technology on the fxTrade platform in 2003.。

The weakness of fxTrade is its limited accessibility, making it less popular than Metatrader。OANDA is the only broker offering fxTrade, so their automated trading was not successfully introduced。

fxTrade currently works perfectly on iOS and Android as a mobile app。It has a rich and simple interface, which is very easy to use even for people without trading experience。

The fxTrade application has three unique features that other trading terminals do not have:

1. Fully customizable interface: You can set and save your own default parameters such as trading units, risk and profitability criteria for pending orders, and preferred financial instruments。
   Advanced Charts for TradingView: You get access to 9 highly customizable charts and many popular default indicators。
   One-click login for all-in-one account management: You can log in to fxTrade with OANDA credentials to access the console with all accounts。You can directly inject funds into your account, withdraw profits, monitor results, etc. on the app, no longer need to close the trading platform and switch to the OANDA website for basic account management。

In short, fxTrade is focused on becoming a responsive mobile trading application that achieves reliable and fast performance through industry-leading technology. Beginners and experienced individuals looking for active trading will love this application。

How to choose the best OANDA platform

First, know your trading style.。Do you want to trade manually or automatically？In the first case, all OANDA platforms may be suitable for you; but if you want to trade with EA, then you can choose Metatrader 4 or Metatrader 5。

Second, make sure you want to take advantage of the convenience of your PC or mobile device to trade more frequently。MT4 and MT5 run better on PCs, but their mobile applications contain much less features and are less customizable。fxTrade is the best choice for mobile trading. It has excellent functions and won the highest mobile application satisfaction and third-party integration award issued by "2020 Investment Trends US Forex Report"。

Third, understand what it takes to trade smoothly。Find out which of the three OANDA platforms has all the tools you need with the following comparison table。If you need to know their effectiveness, open a demo account on OANDA。

Function	Metatrader 4	Metatrader 5	fxTrade APP
Chart type	Line, column, candle chart	Line, column, candle chart	Advanced Charts for TradingView
Indicator	30 +, custom indicators	35 +, custom indicators, market indicators	30+
Pending Orders	Buy Stop, Sell Stop, Buy Limit, Sell Limit	Buy Limit, Sell Limit, Buy Stop, Sell Stop, Sell Stop Limit, Buy Stop Limit	Buy Stop, Sell Stop, Buy Limit, Sell Limit
Time range	9 (M1, M5, M15, M30, H1, H4, D1, W, MN)	21 (M1, M2, M3, M4, M5, M6, M10, M12, M15, M20, M30, H1, H2, H3, H4, H6, H8, H12, D1, W, MN)	6 (M1, M5, M15, 1H, 4H, 1D)
Risk management tools	✔️	✔️	✔️
One-click trading	✔️	✔️	✔️
Notification	Sound, email, and notifications	Sound, email, and notifications	Sound, email, and notifications
Automated trading	EA	EA	❌
Coding Language	MQL4	MQL5	❌
Strategy Testing	single thread	multithreading	❌
Depth of Market (DoM)	❌	✔️	❌
Market Scope	Forex, Cryptocurrencies, Commodities, Indices	Forex, Cryptocurrencies, Commodities, Indices, Equity CFDs	Forex, Cryptocurrencies, Commodities, Indices, Equity CFDs
Account Management	❌	❌	✔️
Customizable default parameters	❌	❌	✔️
most suitable for	Beginner, Manual Trading, Automated Trading	Experienced traders, manual trading, automated trading	Beginner to Skilled, Day Trader, Manual Trading

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OANDA is an award-winning broker with a reputation for excellence in the trading industry for more than 25 years, supporting superior customer service and transparent pricing on the most advanced platforms。