Due to their convenience and improved functionality, MT4 platforms enjoy stable interest and demand among Forex traders. Nevertheless, although they are extremely intuitive and easy to understand, beginners often seek clear instructions on how to download them and make new accounts. In this guide, we will focus on setting up such a terminal on Oanda.
Apparently, before you start the downloading and installing procedures, you must make sure that this kind of terminal suits you perfectly. So, we’ve collected its most significant features for you:
· 38 currency pairs along with CFDs and indices;
· an opportunity to trade on the go — there is a web app, as well as a desktop and a mobile one;
· a demo account for testing functionality free of risk before sending any real deposits;
· the most recent market news and real-time data on prices and trends;
· an extended range of charting and analysis instruments, including over 50 indicators, 9 time frames, and a set of varied displays;
· an opportunity to place trades right from the charting interface;
· automated trading opportunities: expert advisors, stop-loss orders, a take-profit function, etc;
· one-click trading — opening, changing, and closing positions takes just a few clicks regardless of your device;
· total customization — you are offered to change the interface and layout to fully adjust it to your trading priorities and style, as well as add personalized indicators and expert advisors.
Now, follow our guidelines to install Oanda MT4 at minimum effort:
1. Go to the website of the broker and download the corresponding app/program. As an alternative, you can visit Google Play or Apple Store.
2. Start the installation process by pressing the icon of the app.
3. Register an account with this brokerage platform. Also, if you wish, you can try a demo account first to test the service without making any deposits.
4. Find the “Add account” button in the menu.
5. Press “Add new sub-account”.
6. Choose the MT4 terminal.
7. Decide which basic account currency will be convenient for you.
8. Set the leverage (this function allows borrowing funds and multiplying the size of the trade if you lack your own capital).
9. Read the terms up to the end. Then, confirm that you agree with them.
In sum, this trading terminal is extremely easy to set up and navigate. Thus, with our guide, you will get a trading account in a matter of minutes.