Oanda is the USA-based forex and CFD broker that offers online trading services globally. The broker provides access to 100+ trading instruments, including forex, indices, shares, commodities, metals, cryptocurrencies, metals, and more. The broker is regulated by top-tier regulatory authorities, including ASIC, CFTC, IIROC, FCA, PFSA, MAS in Singapore, FSA in Japan, FSC in BVI.
Oanda offers three main trading platforms, including MT4, MT5, and TradingView. These platforms provide charts, indicators, and tools for trading in global financial markets, and support advanced trading features such as automated strategies, one-click trading, customizable layouts, and fast execution speeds.
In this article, we will explore each platform of Oanda, highlighting their features, benefits, and the types of traders they are most suitable for. By the end, you’ll have a clear understanding of how these platforms work and how they can help improve your overall trading experience
A List of Trading Platforms Offered by Oanda
Oanda offers 3 major trading platforms. They include
- Meta Trader 4 (MT4)
- MetaTrader 5 (MT5)
- TradingView:Â
The Platforms of Oanda Reviewed
Oanda offers the most popular trading platforms for the convenience of traders and investors. These platforms include MT4, MT5, TradingView, etc. These platforms are equipped with powerful features to enhance trading performance, whether you are a beginner or an experienced professional. Here are the features, pros, and cons of the trading tools offered by Oanda.
MetaTrader 4 (MT4):
Founded in 2005, MetaTrader 4 (MT4) is one of the most popular trading platforms globally, renowned for its simplicity and versatility. Offered by Oanda, MT4 caters to both beginners and experienced traders with its user-friendly interface and extensive range of trading tools. From forex to CFDs, the platform supports various instruments, making it a go-to choice for many traders.
Key Features:
- Advanced charting tools with customizable options
- Support for automated trading via Expert Advisors (EAs)
- Over 30 pre-installed technical indicators for market analysis
- Multiple order types, including pending and market orders
- Real-time price quotes and live market updates
Pros:
- User-friendly interface suitable for both beginners and experienced traders
- Highly customizable with custom indicators and strategies
- Extensive community support with access to forums, plug-ins, and tools
- Secure, encrypted trading environment
Cons:
- Limited timeframes and charting tools compared to MetaTrader 5
- No integrated economic calendar
- Does not support direct cryptocurrency trading
MetaTrader 4 is best suited for forex traders, algorithmic traders, and those who value a simple yet powerful trading environment. It is particularly ideal for beginners seeking an easy learning curve and professionals relying on automated systems. To learn more, read our article on the Oanda MT4 Trading Platform.
MetaTrader 5 (MT5):
Oanda offers Metatrader 5 (MT5) to its clients for free. MetaTrader 5 (MT5) is the successor to MT4, offering an even more advanced and feature-rich platform for traders. Developed by MetaQuotes, MT5 provides additional tools and capabilities, making it suitable for more experienced traders. Offered by Oanda, MT5 expands on the capabilities of its predecessor by introducing more timeframes, advanced charting options, and support for additional asset classes like stocks and futures.
Key Features:
- Enhanced charting tools with more timeframes and indicators
- Support for multi-asset trading, including forex, stocks, and futures
- Built-in economic calendar for tracking market-moving events
- Advanced order types, including buy-stop limit and sell-stop limit orders
- Automated trading with improved Expert Advisors (EAs) and strategy testing
Pros:
- More advanced charting options and timeframes than MT4
- Integrated economic calendar to stay updated on global events
- Supports trading a wider range of assets, including stocks and futures
- Improved backtesting and strategy testing for automated trading
- Enhanced order execution with advanced order types
Cons:
- The steeper learning curve for beginners compared to MT4
- Can be more resource-intensive due to its advanced features
- Smaller third-party community support compared to MT4
MetaTrader 5 is best for experienced forex traders, multi-asset traders, and algorithmic traders who require more advanced features and greater flexibility. It is particularly ideal for traders looking to trade not just forex, but also stocks and futures, and who want more robust tools for automated trading and strategy testing. To learn more, check out our article on the Oanda MT5 Trading Platform.
TradingView:
Oanda offers TradingView, a powerful and widely used charting platform, to its traders. Founded in 2011, TradingView has quickly grown into one of the most popular platforms for real-time charting and market analysis. It’s known for its intuitive, web-based interface that provides advanced charting tools and social trading features, making it ideal for traders of all levels. With support for multiple asset classes, including forex, stocks, cryptocurrencies, and commodities, TradingView offers a versatile environment for trading and analysis.
Key Features:
- Interactive charts with a wide range of indicators
- Real-time data and price alerts
- Social trading and idea-sharing
- Multiple chart layouts
- Cloud-based platform
Pros:
- User-friendly interface suitable for traders of all levels
- Extensive range of supported assets, including forex, stocks, crypto, and commodities
- Social trading features to share and view analysis from other traders
- Customizable charts and personalized alerts
Cons:
- Limited order execution features (requires a third-party broker for trade execution)
- Some advanced features are only available in the paid versions
- Requires an internet connection
Best For:
TradingView is best for traders who value advanced charting, market analysis, and social trading. It’s particularly ideal for traders who seek a comprehensive platform for analyzing a wide range of assets and sharing insights with the trading community. To learn more, explore our article on the Oanda TradingView Platform.
Comparing Oanda’s Trading Platforms and Tools with Other Top Forex Brokers
Forex brokers provide various trading platforms and tools, offering traders flexibility and enhanced trading options. Here is a simple comparison of Oanda’s platforms and tools with those of its main competitors, so you can easily see which broker provides which features.
| Brokers Name | Trading Platforms | Tools |
| Pepperstone | MT4, MT5, cTrader, TradingView, and their own proprietary platform | Smart Trader Tools, Autochartist, MetaTrader Signals, DupliTrade, Signal Start, API Trading, VPS Hosting, and an Economic Calendar |
| FP Markets | MT4, MT5, TradingView, cTrader, WebTrader, IRESS, Autochartist, Trading Central, Social Trading, Signal Start | TradeMedic (New), MAM/PAMM, VPS, Traders Toolbox, Forex Calculator, Autochartist, and Trading Central |
| BlackBull Markets | MT4, MT5, TradingView, cTrader | VPS Trading, FIX API Trading, ZuluTrade, Myfxbook, Calculators |
| Fusion Markets | MT4, MT5, cTrader, and, tradingview | Trading Conditions, Trading Calculators, Economic Calendar, Live and Historical Spreads, Fusion+ Copy Trading, DupliTrade, and Sponsored VPS |
| IC Markets | MT4, MT5, CTrader, and TradingView | Virtual Private Server, MetaTrader 4 Advanced Trading Tools, IC Insights, Trading Central, Myfxbook, |
| XM | MT4, MT5 | Trading Calculators, Trading Central, Economic Calendar |
| Exness | MT4, MT5 | Analytical tools, Economic calendar, Trading calculator, Currency converter, Tick history, VPS hosting, Exness Insights |
What Trading Tools Does Oanda Offer?
Oanda provides an extensive suite of trading tools designed to enhance the trading experience and empower traders with advanced functionalities. These tools cater to a wide range of traders, from beginners to seasoned professionals, offering everything from technical analysis and automation to low-latency connections and market updates. Here are the trading tools offered by Oanda.
- Technical analysis
- MetaTrader premium tools
- VPS partners
- Learn
- OANDA Labs
These tools help traders enjoy a better and more efficient trading experience by offering enhanced analysis, faster execution, and access to professional-level strategies. Whether you’re looking to automate your trades, follow experienced signal providers, or gain deeper insights through technical indicators and economic data, Oanda’s trading tools are built to support smarter and better decision-making.
To learn more about the tools offered by Oanda, read our in-depth content: Oanda Trading Tools Reviewed.
Frequently Asked Questions (FAQs)
What is Oanda?
Founded by Drs. Stumm and Olsen in the USA in 1996, Oanda is one of the oldest and most experienced forex brokers in the world. The broker expanded into Asia in 2007, opened its London office in 2011, and its Sydney office in 2014. On its platforms, you can trade over 3000 forex, CFDs, and even real stocks.
What platforms does Oanda use?
Oanda offers three main trading platforms: MT4, MT5, and TradingView. In addition to these platforms, Oanda provides a range of tools designed to enhance the trading experience. These include Technical analysis, MetaTrader premium tools, VPS partners, Learn, and OANDA Labs.
Does Oanda Charge Fees for Platforms?
No, Oanda does not charge any fees for using its trading platforms such as MT4, MT5, cTrader, or TradingView. Traders can also access the default indicators and basic tools on these platforms free of charge. However, some advanced third-party tools or premium services may have separate costs.
Final Verdict:
Oanda offers a range of trading platforms and tools designed to support all types of traders. The platforms include MetaTrader 4 (MT4), MetaTrader 5 (MT5), and TradingView, each equipped with unique features to meet various trading needs. MT4 is ideal for beginners and algorithmic traders, while MT5 provides advanced charting and multi-asset support, and TradingView enhances the trading experience with advanced charting and social trading features.
Oanda also provides several tools, such as Technical analysis, MetaTrader premium tools, VPS partners, Learn, and OANDA Labs, to improve trading efficiency and support automated strategies.
With its comprehensive selection of platforms and tools, Oanda offers the resources needed to execute strategies effectively and stay competitive in the forex and CFD markets.
