OANDA does offer a demo account. Traders can navigate to the Oanda website and select the “Demo Account” option to open a demo account. The demo account is a practice account that is not only for beginners but traders of all experience levels.
It provides a risk-free environment where traders use virtual funds to access financial markets without risking their own capital.
Min Deposit
USD 1
Regulators
ASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA
Trading Platform
MT4, MT5
Crypto
Yes
Total Pairs
45
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
OANDA Demo Account – 5 key point quick overview:
Oanda Demo Account Features- Oanda pros and cons
- Oanda at a glance
- Conclusion
- Frequently Asked Questions
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
A demo account is the easiest way for beginners to learn about trading in a practical way, helping them gain the necessary experience that they need to start trading in a live environment.
The demo account is also the perfect platform where traders can develop and test different trading strategies, using the tools and features offered by MetaTrader 4 to refine and improve strategies.
A demo account mirrors a live trading account, giving traders an idea of what they can expect from Oanda in terms of trade execution speed, range of markets, quotes, liquidity, and so on.
This allows traders to see whether Oanda caters to their unique trading needs and objectives before they commit to a live trading account.
Both MT4 and MT5 and the Oanda platform are powerful, versatile, and user-friendly, offering traders a seamless and dynamic trading experience across several devices.
Min Deposit
USD 1
Regulators
ASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA
Trading Platform
MT4, MT5
Crypto
Yes
Total Pairs
45
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Oanda pros and cons
| ✔️Pros | ❌Cons |
| Sign-up quick and hassle-free | None noted |
Oanda at a glance
| Category | Information |
| 🏢 Company Information | |
| 🗓️ Year Founded | 1996 |
| 👔 Current CEO | Gavin Bambury |
| 👨💼 Founder/s | Michael Stumm, Richard Olsen |
| 👥 Amount of Staff | 600+ |
| 📊 Amount of Active Traders | 100,000+ |
| 📈 Publicly Traded (Listed Company) | No |
| 🛡️ Regulation and Security | |
| 🏦 Regulation | FCA, CFTC, ASIC, MAS, IIROC |
| 🌍 Country of Regulation | UK, US, Australia, Singapore, Canada |
| 💼 Account Segregation | Yes |
| ❌ Negative Balance Protection | Yes |
| 🔐 Two-step Authentication | Yes |
| 🛡️ Investor Protection Schemes | Yes (For FCA-regulated clients) |
| 🗂️ Account Types and Features | |
| 🏢 Institutional Accounts | Yes |
| 🤝 Managed Accounts | No |
| 💱 Minor Account Currencies | EUR, GBP, AUD, etc. |
| 💵 Minimum Deposit | No minimum deposit |
| 📊 Trading Conditions | |
| 💰 Average Deposit/Withdrawal Processing Time | 1-3 business days |
| 💸 Fund Withdrawal Fee | $0 for debit/credit cards, bank charges may apply |
| 📉 Spreads From | 0.8 pips (EUR/USD) |
| 💼 Commissions | No commissions on standard accounts |
| 💱 Number of Base Currencies Supported | 9+ |
| 📈 Swap Fees | Applicable |
| ⚖️ Leverage | Up to 50:1 (depends on region) |
| 📉 Margin Requirements | 2% |
| 🕌 Islamic Account (Swap-Free) | Yes |
| 🧑💻 Demo Account | Yes |
| ⏱️ Order Execution Time | < 1 ms |
| 🖥️ VPS Hosting | Yes (via third-party providers) |
| 📈 Trading Instruments | |
| 📊 CFDs - Total Offered | 120+ |
| 📉 CFD Stock Indices | 16+ |
| 🛢️ CFD Commodities | 30+ |
| 🏦 CFD Shares | 500+ |
| 👀 Watch List | Yes |
| 🔔 Trade Alerts | Yes |
| 📈 Trading Stocks with GP | Yes |
| 📉 Trading Indices with GP | Yes |
| 🔄 Swap on Trading Board | Yes |
| 💰 Deposits and Withdrawals | |
| 🏦 Deposit Options | Bank transfer, Credit/Debit Cards, PayPal |
| 💸 Withdrawal Options | Bank transfer, Credit/Debit Cards, PayPal |
| 🎁 Welcome Bonus | No |
| 💻 Trading Platforms and Tools | |
| 📊 Trading Platforms | OANDA fxTrade, MetaTrader 4 (MT4) |
| 🛑 Stop-Loss Instrument | Yes |
| 🛡️ Investor Protection Schemes | Yes |
| 💻 OS Compatibility | Windows, Mac, Android, iOS |
| 🛠️ Forex Trading Tools | Yes (including technical analysis tools) |
| 📞 Customer Support | |
| 💬 Live Chat Availability | Yes (24/5) |
| 📧 Customer Support Email Address | frontdesk@oanda.com |
| 📞 Customer Support Contact Number | +1 877 626 3239 |
| 🌐 Languages Supported on OANDA Website | English, French, Spanish, etc. |
| 🎓 Educational Resources and Support | |
| 🧑🏫 Beginners Trader Friendly UX | Yes |
| 📚 Forex Course | Yes |
| 🎥 Webinars | Yes |
| 📖 Educational Resources | Yes |
| 🤝 Partnerships and Programs | |
| 👥 Affiliate Program? | Yes |
| 🤝 Amount of Partners | 10+ |
| 👨💼 IB Program | Yes |
| 🎯 Do They Sponsor Any Notable Events or Teams? | No |
| 💵 Rebate Program | No |
| 🗣️ Community Forum | Yes |
| 🌐 Social Media Platforms | Facebook, Twitter, LinkedIn, YouTube |
| 🌍 Social Media and Website Links | |
| 🌐 Official Website Address | www.oanda.com |
| 📘 Official Facebook Page | OANDA Facebook |
| 🐦 Official Twitter Page | OANDA Twitter |
| 🎥 Official YouTube Channel | OANDA YouTube |
| 👔 Official LinkedIn Page | OANDA LinkedIn |
| 📸 Official Instagram Page | OANDA Instagram |
| 🌍 South African Traders | |
| ✅ Accept South Africa Traders? | Yes |
| ⚖️ Is OANDA Regulated by the South Africa Regulatory Body (FSCA)? | No |
| 💼 Does OANDA Offer an Affiliate Program for South African Traders? | Yes |
| 💱 Does OANDA Allow Accounts to be Opened in ZAR / Rands? | No |
| 🚀Sign up | Open Account |
Conclusion
Oanda gives new traders the opportunity to train on a Demo Account before opening a live account. More information can be requested from the broker’s customer support team.
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Frequently Asked Questions
What is the difference between a demo and a live trading account?
A demo account offers the use of virtual funds instead of actual capital. This allows for risk-free trading as well as exploring of both the broker’s offer and the trading platform.
A demo account can be used for a variety of reasons including practice trading, testing trading strategies, exploring platforms and offers, and more.
Does Oanda offer a demo account?
Yes, Oanda offers a demo account.
For how long is the demo account valid?
The Oanda Demo account does not expire.
Can I trade indices on the Oanda demo account?
You cannot buy or sell indices directly. You can trade indices with Oanda as a CFD.
Does Oanda offer the option of an Islamic Account?
No, Oanda does not offer the option of an Islamic Account.
Which live trading accounts does Oanda offer?
- Standard account
- Core account
- Swap-free account
What are the available deposit currencies for a live trading account?
- USD
- EUR
- GBP
- CHF
- JPY
- CAD
- SGD
- HKD
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