Oanda MT4 Review - How to Download and Set Up?
MetaTrader 4 platforms are designed to give you the edge in today's busy trading environment, with live quotes, real-time charts, and in-depth news and analysis. You can trade on the go with mobile and tablet apps or choose the web trader to trade on your desktop.
Moreover, with MetaTrader 4, you can take advantage of tight spreads and fast execution speeds. Like every other broker, Oanda MT4 also comes with many features suited for active traders. The guide explains these features and the Oanda MT4 download process in detail.
Oanda MT4 Review
Oanda has both desktop and mobile MT4 platforms for traders. You can trade 38 currency pairs on the platform and access multiple global indices and CFDs. Since Oanda also offers demo accounts, traders can test the platform before committing to a live account.
MT4 Mobile
Nowadays, many traders prefer to trade using their mobile devices. The MT4 mobile app from Oanda is available for both Android and iOS devices. You can use the app to access your account, check your balance, deposit or withdraw funds, and place trades.
The app also provides streaming quotes and price charts for various financial instruments. You can set up price alerts and use a variety of technical indicators for your analysis. The Oanda MT4 mobile app requirements are as follows:
iOS: 0.9 or later
Android: Android 5.0 or up
You get free widgets and indicators on both platforms. You can use these widgets to ensure precision trading and benefit from automating scaling. The app also lets you create flexible stop-loss orders. Here are some notable features of the Oanda mobile MT4 app.
One-click Trading: You can open and close positions with just one click.
Live Quotes and Charts: You can get streaming quotes for various financial instruments and access live price charts.
Customizable Dashboard: Every trader has different trading needs and preferences. The Oanda mobile app lets you customize the dashboard for your ultimate convenience.
Mobile Notifications: You get notifications for financial news and trade executions. Plus, you can see trading history, news, emails, and orders in the information window.
MT4 Desktop
The desktop platform from Oanda is available for Windows and macOS devices. It has all the available features on the mobile app, plus some additional ones.
For instance, you can customize the interface to suit your trading style. Here are some features of the Oanda desktop platform.
Advanced Charts: You can trade directly using leading-edge charts that provide real-time market analysis. You can also save your custom studies and indicators. The platform offers 10 chart layouts and more than 10 chart types to suit every trader's requirements. Plus, you can use over 50 drawing tools, including Elliot Waves and Gann Fans.
Personalized Layouts: You can personalize the trading platform by creating multiple profiles or setting up default trades. The desktop platform also lets you drag windows across the screen to set up a chart layout that's most convenient for you. More importantly, you can change how many or where the trading tools appear as per your trading skills. For instance, if you're a beginner, you can remove advanced trading tools to make your dashboard seem less daunting.
Market Data Coverage: You get up-to-date financial news and market analysis from Oanda's in-house analysts. The Market Data window lets you track real-time prices for more than 55 currency pairs, commodities, and indices. You can also access economic calendars and set up price alerts for the markets you're watching.
MT4 Web
Oanda MT4 web platform is just as intuitive and feature-packed as the desktop version. The only difference is that you don't have to download or install any software. Instead, you can log in to your account and start trading from any computer with an internet connection.
Some features of the MT4 web platform are:
Technical Analysis Tools: The platform has a suite of 30+ technical indicators and charting tools. You can use these to generate buy and sell signals, identify market trends, and set up price alerts.
Trade Performance Analytics: The MT4 web platform lets you track your trade performance with customizable reporting tools. You can also monitor your account balance, margin level, and equity.
Personalized Layouts: You can arrange your dashboard's layout to fit your trading needs.
Oanda MT4 Advantages
Oanda's MT4 platforms have multiple features that make them perfect for traders with different expertise levels. Here are some advantages of Oanda MT4.
Market Data Coverage
You can get up-to-the-minute market data and news from Oanda's in-house analysts. The MT4 platforms also offer multiple technical indicators and charting tools.
Advanced Features
The MT4 platforms have advanced features, such as Expert Advisors (EAs), which can automate your trading strategies. You can also backtest your EAs on historical data to see how they would have performed in the past.
Likewise, you can place different risk management orders, such as stop-loss and take-profit orders, to protect your positions.
One-Click Trading
Traders can place, modify, and close trades with a few clicks on the MT4 platforms. Such functionality makes it easy to execute your trades quickly and efficiently.
Customizable Interface
Since every trader has unique needs, the MT4 platforms allow you to customize the interface and layout to suit your preferences. You can also create your indicators and EAs on the MT4 platforms.
Trading from Charts
You can open trades directly from the charts with several displays and nine timeframes. In addition, since the platform has more than 50 built-in indicators, you can efficiently conduct technical analysis on your charts.
How to Download Oanda MT4 for Free?
You can download Oanda MT4 for your mobile phone, tablet, or desktop. Here are the steps to do so:
Go to Oanda’s website and choose the platform you want to download.
How to download OANDA MT4
To download the mobile app, go to the Apple app store or Google Play.
OANDA on Google Play
OANDA on App Store
Tap the Download button on your phone and install the app once it’s downloaded.
If you want to download the desktop app, go to the desktop web page on Oanda’s website. Click the download button to start downloading.
OANDA desktop platform
How to Set Up MT4 From Oanda?
Once you’ve downloaded the app/s, you can set up the platform by making an account. Here’s how to do it:
Create an account on Oanda. You can also create a demo account if you want to test the platform’s features first.
After creating an Oanda account, go to your dashboard.
Creating a new OANDA account
Click on the ‘’Add Account’’ button.
Then, click on the ‘’Add new sub-account’’ button.
Choose MetaTrader4 from the list. You’ll also have to specify your leverage and base currency.
Once you’ve specified your preferences, agree to the terms and conditions.
Now, you’re all set to your Oanda MT4 on a device of your choice.
FAQ
What Makes MetaTrader4 Better?
MetaTrader4 is one of the most popular trading platforms available, and for a good reason. It is packed with features that make it easy to use yet powerful enough to accommodate even the most experienced traders. In addition, with MT4, you can customize the trading environment to suit your individual preferences, making it the perfect platform for both new and professional traders.
How Can You Use Charting Tools in Trading?
Charting tools are vital for any trading platform, and MetaTrader4 is no exception. With MT4, you can use a wide range of charting tools to help you make informed decisions when trading. You can use the tools to identify trends, set price alerts, and much more.
How Do You Place Trades with MetaTrader4?
Placing trades with MetaTrader4 is easy. First, open the platform and log in to your account. From there, you can access the trading window where you can select the asset you want to trade, choose your position size, and place your order.
How to Download Oanda MT4?
The Oanda MT4 download process is quite simple. First, you have to go to the broker's website and choose the platform you want to set up MT4. For instance, if you're going to set it up on your mobile phone, you can click the link on the website that takes you to Google Play or Apple Playstore. Then, you can download the app from the relevant store and start using the MT4 trading platform. Similarly, you can download the desktop version from the website too.
Team that worked on the article
Dwight specializes in risk, corporate finance, alternatives, fintech, general business trends, and financial markets, and he has broad experience managing complex projects. Dwight is an author for the Traders Union website.
Dwight was a financial columnist for The Wall Street Journal and The New York Times during the Great Financial Crisis. He has served as Editor-in-Chief of Worth, a personal finance magazine for the wealthy, and as Editor of Risk, the premiere global publication about derivatives, risk management, and quantitative finance, based in London.
He has also served as Managing Editor at The Economist Group and ran the Americas operations of two British trade publications.
For the last 12 years, Dwight has worked as a freelance writer and editorial project manager, serving clients in the financial technology, banking, broker/dealer, consulting, asset management, and corporate sectors. This has given him considerable experience in idea generation and project management, working collaboratively to help clients meet their goals with little or no supervision.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).