Last update 2020.10.13
Oanda is one of the most popular brokers in the world, providing a variety of trading instruments, such as forex, CFDs, commodities, and indices for traders across the globe. We are going to cover here how to trade forex on Oanda and what are the best tools to reach for better results in forex trading.
🎯 We expect to help you invest in forex efficiently and improve your results. Get extra forex trading insights from leading finance experts on the trading Academy and on our free forex Telegram channel.
💹 When trading forex, we suggest you consider long term results.
What you will learn ahead
- How to open a forex account with Oanda
- How to trade forex efficiently
- How to use AI trading for through Oanda
- What is the best forex broker? Oanda or FXCM?
You will see that trade forex may be a quite simple process, especially when using AI trading. So, let’s get started by opening a forex account.
#1 Apply for an account
To apply, you must be over 18 years old, and a legal resident of the country from which you are applying. Oanda only ask questions that are relevant to your application and for regulatory purposes. Click here to check if your country is eligible for a forex trading account.
Be prepared to upload proof of identity and address, such as your full passport or national ID card.
#2 Verify your identity and address
Oanda will need you to send some documentation to verify your identity and address. You can scan the below documents or use your smartphone to take a picture of the documents, and submit them through our secure portal.
- Proof of identity
- Proof of address
- Bank statement (preferred), of the account you are planning to use to fund your OANDA account. The document should have your name and address on it. In certain cases, we may ask for more than one document as proof of your address.
#3 Fund and trade
To deposit funds, log in to ‘manage funds’ using your OANDA trading account details, and click on the ‘deposit’ button. You can fund your trading account using several methods, including debit and credit cards, bank wire transfer, and PayPal. There is no minimum deposit amount and you can trade forex from just $1.
#4 Trade forex automated with Wiseinvest AI trading
If you want to trade forex automatically, it is possible to use Wiseinvest’s artificial intelligence trading system. This is a hands-free, efficient, simple, and safe trading system.
Check out the 3 steps to trade fully automated with our AI on Oanda. It will save you time and can improve your trading performance, regardless of the experience level on forex.
By trading forex automated with AI, you will save time and improve your performance without monitoring the market and managing trading platforms.
With Automated AI trading you do not need MT4 / MT5 and other trading platforms to invest in forex. All forex trades are automatically placed into your broker account every time that our AI system identifies a new worthy trading opportunity. You can monitor the AI trading performance in real-time directly on our dashboard.
Don’t you have a broker account yet? Our AI is integrated to trade automated with the broker Oanda. Click here to open an account. You can also start with a risk-free trading account to test our automated AI trading.
How to link my Forex Broker account with AI?
You can access the Oanda’s token page clicking here.
Here is a sample of the token you need to copy and paste into our dashboard. You can access the Oanda’s token page clicking here.
After getting your Oanda’s account number and token, just past it into our dashboard. Check out an example of our AI trading dashboard.
What happens after linking an Oanda forex broker account with AI trading
- The AI will automatically invest on average every 12 hours in your account.
- There will be up to 60 trades per month (Monday – Friday).
- You can enable and disable AI whenever you want.
- Check your trades on our dashboard or the brokerage.
- You can link more than one broker at the same time.
- You don’t need MT4 / MT5. It’s all on our dashboard.
- Your capital is protected under the broker.
- Your personal data is protected by us.
Would you like to try our automated AI trading for free in a risk-free practice account? Get started free here.
How to follow my AI trades
You can monitor all AI trades directly on our dashboard or in the broker in real-time. You have the freedom to manage your broker account at any time.
Why choose our AI to trade forex?
- Setup in 3 minutes.
- Totally hands-off, from anywhere.
- Invest from just $1.
- APY of 40% over the past 13 years*.
- Lightning-fast execution & no slippage.
- No commissions, no management fees.
- Portfolio with 40 different automatic strategies.
- No MT4/MT5 or other platforms required.
- Test with a risk-free practice account.
- Trading results directly on our dashboard.
- Trading alerts in the broker account by email and Telegram.
With Automated AI trading you do not need MT4 / MT5 and other trading platforms to invest in forex. All forex trades are automatically placed into your broker account and you can monitor the AI trading performance directly on our dashboard.
How do I know my performance and when to trade?
When using AI-Trading all trades are placed automatically into your broker account by our AI. In doing so, you can check out your trading performance in your broker account or on our track record. Our proprietary trading model is designed to place up to 24 forex trades per week.
In case you use AI signals to trade manually, we also display our results on our track record and alert you by email and telegram whenever our AI finds a new good opportunity.
Do I need to set the leverage in my broker account?
When investing through Wiseinvest automated AI trading or AI forex signals, you do not need to calculate pips or change the leverage in your forex broker account. Learn more about leverage in forex trading clicking here.
You can learn more about trade forex automated with AI clicking here.
What is the AI performance in forex trading?
The Win Rate of our AI moves as shown by the period and can reach up to 95%. The introduction relies upon the capable wild estimation metric, which infers that our model is valuable at whatever point the Win Rate is more noticeable than 60%. All methods of our AI trading system search for stable returns and sufficient results to achieve an ordinary return of 40% consistently (APY), without the usage of high impacts.
We appreciate that what is significant in forex trading is the definitive result. Thusly, the money related master needs to consider that Win Rate isn’t commonly the best estimation to measure execution in forex, as other signal providers uncover. For instance, out of 100 trades, solitary 1 trade may be an adequate disaster to make the 99 trades not gainful. For this circumstance, the Win Rate would be 99%, yet the convincing result would be unfeasible (negative).
We revolve around the appearance of 40% of APY and not just on Win Rate.
It is essential to see that forex brokers may charge spreads, commissions, and overnight costs in your trading account, and these components can impact the AI execution. You can check our forex trading history to see more about AI trading execution clicking here.
How much do I need to trade forex with AI?
You can start in forex trading with a free AI forex signals or AI trading record and make a store from just $1 in the broker. It is moreover possible to test using a danger-free practice account with our AI trading structure. Regardless, to do a capable peril, the board in authentic records, we suggest you start from at least $100. Notice that some forex traders require assorted beginning stores to trade forex.
What is the trading strategy of our AI?
Our AI methodology is the blend of different AI trading structures, with more than 100 features, that portray 40 particular strategies which simultaneously consider: Quotes of the 28 forex pairs, Supports, and Resistances in different timeframes, Trends and Counter-designs, Cross-markers, Index of each pair, Economic Calendar, Investors Sentiment.
Our AI looks at those fundamental, technical, and sentiment factors that impact forex trading, and all models are surveyed constantly using different burdens. In the wake of completing the examination, the choice of the signal transmission procedure is made considering the improved likelihood of flashing advantage and the total open for theory.
Using technical analysis, our count considers not simply the instances of various examples, including sponsorship and deterrent levels and cross-pointers, yet our AI is moreover prepared to make its own progressing record for each cash pair, that is used to recognize what is the best course and target.
Practically identical to fundamental analysis in forex, the AI makes an association inside the budgetary calendar to find news data that can impact express money sets.
Where is Oanda licensed for forex trading?
Oanda as a forex broker is licensed in the United States by CFTC, Canada by IIROC, Europe by FCA, Asia-Pacific by CMS, and Australia by ASIC. You can see the official page of the regulatory compliance of Oanda here.
What is the best forex broker to use AI trading?
- Where are you from? For example, Oanda accepts US accounts, but FXCM does not. On the other hand, FXCM accepts accounts from some countries where Oanda does not.
- How much do you have? With Oanda, you can start at $1, and FXCM is ideal if you start from at least $300.
- FXCM sometimes provides higher liquidity volume and lower spreads than Oanda, which are vital aspects of the success in forex trading. But it can also vary.
- Opening a forex trading account with Oanda is quite a simple process. You can also start trading forex with a risk-free practice account which does not require a due diligence process.
- Wiseinvest provides helpful AI trading solutions for forex. You can trade automated through Oanda with AI trading or manually with AI forex signals in the forex broker of your choice.
- To trade forex with AI you just need a Wiseinvest subscription and a trading account with partner brokers. When using Oanda as a forex broker you can trade from just $1.
- You do not need MT4/MT5 or other trading platforms to invest in forex with Wiseinvest automated AI system.
- You can get started with free AI forex signals using a risk-free practice account.
Disclaimer: Forex and Contracts for Difference (CFDs) are complex instruments and come with a high risk of losing money due to leverage. Forex trading is not suitable for everyone. You should consider whether you understand how forex and CFDs work and whether you can afford to take the high risk of losing your money.
The forex brokerages displayed shall disclaim the overall performance of traders in their platforms. Oanda warns that 76.8% of retail forex traders lose money trading CFDs. XTB warns that 80% of retail forex traders lose money trading CFDs. FXCM warns that 74.74% of retail forex traders lose money trading CFDs.
The performances aforementioned are not related to Wiseinvest AI forex trading and AI forex signals system. You can check the performance of our AI forex system on our dashboard.