Last update 2020.08.11
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.
You will see that trade forex may be a quite simple process following the next steps.
Step 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.
Be prepared to upload proof of identity and address, such as your full passport or national ID card.
Step 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.
Step 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 a number of 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.
Step 4: Trade forex automated with Wiseinvest AI
Check out the 3 steps to trade fully automated with our AI on Oanda. It will save your time and can improve your trading performance, regardless the experience level on forex.
Don’t you have a broker account yet? Get started with a free trading account on Oanda clicking here.
How to link my Forex Broker account with AI?
Here is a sample of the token you need to copy and paste into our dashboard.
How to follow my AI trades
You can monitor all AI trades directly on 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 Metatrader or other platforms required.
- Test with a risk-free practice account.
- Questions? Chat directly with our AI clicking here.
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 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.
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. The forex broker Fxcm warns that 69.66% 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.