MetaTrader 4 (MT4) is a Windows-based electronic trading platform with automated trading capabilities. OANDA clients require an fxTrade account with an MT4 sub-account in order to access a licensed version of the MT4 platform that is hooked up with OANDA’s execution and spreads.
AUTOMATE YOUR STRATEGIES
Build trading algorithms and back-test your strategies. OANDA MT4 offers full support for EAs (Expert Advisors), including those that require hedging capabilities.
ABOUT HEDGING ACCOUNTS
POPULAR CHARTING
Trade directly from charts with nine time frames and multiples displays including five candles per week on the GMT +2 server. Scan the market for trading opportunities using over 50 built-in indicators, including OANDA’s MT4 Orderbook Indicator.
DOWNLOAD THE ORDERBOOK INDICATOR
PROPRIETARY MT4 PLUGIN
Get OANDA’s Technical Analysis as an MT4 Plug-In that includes intraday market scanning, automatic chart pattern recognition and pattern quality indicators, automated alerts for specified patterns, and the ability to execute trades directly inside the interface.
How to install MT4 plugin
ADDITIONAL MT4 OFFERINGS
Reduce latency further by setting up an OANDA VPS Provider. Trade with your OANDA MT4 account anywhere you go by downloading the MT4 Mobile App.
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Frequently Asked Questions
To sign into OANDA MT4, enter the account number and password associated with your MT4 sub-account, and then select the server you would like to access.
i. To locate your MT4 sub-account number:
ii. First sign in on the OANDA website
iii. Click on Manage Funds (View)
iv. Select the account with a MT4 icon
v. Note your MT4 account number to be used as the login ID.
i. To locate your MT4 sub-account number:
ii. First sign in on the OANDA website
iii. Click on Manage Funds (View)
iv. Select the account with a MT4 icon
v. Note your MT4 account number to be used as the login ID.
a. Live trading account servers:
i. OANDA V20 Live - aligned to the New York Close and supports five daily candles per week. Use this server if your account has a v20 tag on the Manage Funds page.
ii. Supports v20 MT4 hedging accounts.
iii. OANDA GMT+2 Live - aligned to the New York Close and supports five daily candles per week. Supports MT4 hedging compatibility accounts.
iv. OANDA GMT-5 Live - aligned to midnight Eastern time (USA), which results in 6 daily candles per week. Does not support hedging.
b. Demo trading account servers:
i.OANDA V20 Practice - Use this server if your account has a v20 tag on the Manage Funds page. Does not support hedging.
ii.OANDA GMT-5 Practice - Does not support hedging.
Please be aware that ONLY Japanese clients may sign in to the Japan Live or Japan Practice servers. They do not support clients from other regions.
i. OANDA V20 Live - aligned to the New York Close and supports five daily candles per week. Use this server if your account has a v20 tag on the Manage Funds page.
ii. Supports v20 MT4 hedging accounts.
iii. OANDA GMT+2 Live - aligned to the New York Close and supports five daily candles per week. Supports MT4 hedging compatibility accounts.
iv. OANDA GMT-5 Live - aligned to midnight Eastern time (USA), which results in 6 daily candles per week. Does not support hedging.
b. Demo trading account servers:
i.OANDA V20 Practice - Use this server if your account has a v20 tag on the Manage Funds page. Does not support hedging.
ii.OANDA GMT-5 Practice - Does not support hedging.
Please be aware that ONLY Japanese clients may sign in to the Japan Live or Japan Practice servers. They do not support clients from other regions.
When depositing funds, OANDA supports any amount above $1. However, the smallest MT4 trading size is a micro lot (1,000 units), so with 50:1 leverage, the minimum amount to make this trade would be $20 - $30 depending on the instrument (or more for lower leverage).
Expert Advisors (EAs) are programs that have been developed in MetaQuotes Language 4 (MQL 4) and are used to automate analytical and trading processes. These programs perform prompt technical analysis of price data, and manage trading activities on the basis of pre-programmed trading strategies. The entire routine work of technical analysis and trading can be programmed into an EA. However, please be aware that the OANDA MetaTrader 4 platform must be running on your computer, and it must be connected to OANDA’s servers, in order to run a EA.
Important Note: EAs are automated trading tools developed by third parties. OANDA cannot provide support for an externally developed EA and assumes no liability for loss attributable to the use of EAs on the MetaTrader 4 software.
Important Note: EAs are automated trading tools developed by third parties. OANDA cannot provide support for an externally developed EA and assumes no liability for loss attributable to the use of EAs on the MetaTrader 4 software.
A custom indicator is a program developed in MetaQuotes Language 4 (MQL 4) by the user and functions as a technical analysis trading indicator. Technical indicators are mathematical calculations of currency pair prices created to help forecast future price changes. Traders use indicators to help assess if a current trend will remain the same, and where it will turn. Indicators are intended to simplify the complicated process of decision making in trading. Their algorithms are also used to develop trading tactics and EAs.
You can open and close trades in your MT4 account from OANDA desktop and mobile trading platforms.
Note: For the account to synchronize correctly on the MT4 interface, these trades need to be in lots or mini lots to avoid rounding differences.
Note: For the account to synchronize correctly on the MT4 interface, these trades need to be in lots or mini lots to avoid rounding differences.
a. Sign in – You can sign in to the OANDA Desktop trading platform using your username and password. You need the number of your MT4 sub-account and a unique password to sign into OANDA MT4.
b. Units versus Lots -- You can trade any amount with the OANDA Desktop trading platform, even a single unit. On OANDA MT4, you can only trade lots (100,000 units), mini lots (tenths of a lot), or micro lots (hundredths of a lot).
c. Drawing Candles -- The OANDA Desktop trading platform draws all candles that occur during trading hours using your choice of the midpoint, the bid, or the ask. MT4 uses bid prices to build all candles and does not draw candles that do not contain any ticks.
d. Account Balance / Reports — The two trading platforms can sometimes become out of sync with one another and display contrasting information. When this occurs the balance shown on the OANDA Desktop trading platform will be the one used in all calculations, including for margin closeouts.
Margin alerts and margin closeouts are always calculated and executed by OANDA’s servers. If your account doesn't have enough funds to cover your open trades, the OANDA servers will close all of your open trades. This will be transmitted to the MT4 server and represented as many trades closing.
Unfortunately, there is no functionality in MT4 for issuing margin warnings. However, you can see full-account balance details when you sign in to your OANDA trading account.
Unfortunately, there is no functionality in MT4 for issuing margin warnings. However, you can see full-account balance details when you sign in to your OANDA trading account.
This message could have been triggered by a number of things:
1. You do not have enough funds in your trading account to make the trade.
2. There is insufficient liquidity in the market to support your trade.
3. You exceeded the maximum trade size.
4. The duration of your limit order exceeds the maximum of 100 days.
5. There is not a recent tick for that instrument in MT4 (in this case, you should still be able to trade the instrument on other OANDA platforms).
6. You attempt to close a trade in an order that does not comply with the National Futures Association’s (NFA) "First In, First Out" (FIFO) policy. You should also see an explanation that includes more details in your MT4 mailbox at the time you attempt to close the trade.
1. You do not have enough funds in your trading account to make the trade.
2. There is insufficient liquidity in the market to support your trade.
3. You exceeded the maximum trade size.
4. The duration of your limit order exceeds the maximum of 100 days.
5. There is not a recent tick for that instrument in MT4 (in this case, you should still be able to trade the instrument on other OANDA platforms).
6. You attempt to close a trade in an order that does not comply with the National Futures Association’s (NFA) "First In, First Out" (FIFO) policy. You should also see an explanation that includes more details in your MT4 mailbox at the time you attempt to close the trade.
MT4 does not support OANDA Entry Orders; therefore when these are created through the OANDA Desktop or Mobile platforms they will not appear.
Trailing stops on the OANDA MT4 trading platform are hosted on your computer. This means that if your computer is not running OANDA MT4, the trailing stops are not being tracked and will not close any trades. If you would like to ensure your trailing stops are always being tracked, even when you're offline, you can create them using other OANDA platforms instead.
OANDA MT4 is hosted on its own server and can be accessed at anytime. However, all execution is passed through to OANDA’s trading engine. This means that when OANDA’s online trading platform is offline for maintenance, MT4 clients won't be able to execute trades.
Positive interest will show up as a deposit; negative interest will show up as a withdrawal. Also, if during a re-sync with the OANDA trading platform there was a trade closure that was missed, it will show up as a deposit if profitable or a withdrawal if not profitable.
OANDA MT4 is populated with daily rates going back to 2002. The historical tool provided by MT4 is not recommended for OANDA clients’ use as it is not supported by OANDA and will display rates that are inconsistent with those from OANDA’s Desktop or mobile trading platforms.
OANDA does not support MT5 at this time.
Our deposit options vary based on the OANDA division with which you hold your account. Please check the relevant Deposit Funds with OANDA section for more details.
The OANDA platform supports margin trading, which means you can enter into positions larger than your account balance. OANDA’s margin rules vary based on the regulatory requirements applicable to the OANDA division with which you hold your account. Please select the applicable OANDA division to learn more details about OANDA Margin Rules.
OANDA’s registration forms, legal and trading documentation vary based on the OANDA division with which you hold your account. Please check the relevant Legal & Regulatory Documentation section for more details.
OANDA stores account history within MT4 for up to 90 days for all clients. After 45 days closed limit and stop orders are removed from the MT4 history, and after 90 days all other closed orders are removed (all activity will still available within your account's full transaction history available from your OANDA account page).
Note that if you have MT4 alert notifications turned on you may receive one when older orders are being removed from your MT4 history during closed market hours over the weekend. These notifications are benign and can be ignored.
Note that if you have MT4 alert notifications turned on you may receive one when older orders are being removed from your MT4 history during closed market hours over the weekend. These notifications are benign and can be ignored.
MQL4 API for MT4
Reference several pre-existing custom OANDA indicators and scripts in your MT4 client, or create your own using the MQL4 API for MT4.
† Disclaimer:
Hedging capabilities not available to residents of the U.S.
Contracts for Difference (CFDs) or Precious Metals are NOT available to residents of the United States.
The Commodity Futures Trading Commission (CFTC) limits leverage available to retail forex traders in the United States to 50:1 on major currency pairs and 20:1 for all others. OANDA Asia Pacific offers maximum leverage of 50:1 on FX products and limits to leverage offered on CFDs apply. Maximum leverage for OANDA Canada clients is determined by IIROC and is subject to change. For more information refer to our regulatory and financial compliance section.
Expert Advisors (EA) are automated trading tools developed by third parties. OANDA assumes no liability for loss attributable to the use of EAs on the MetaTrader 4 software.
OANDA Technical Analysis, including Autochartist services and content, is provided for informational purposes only, and does not take into account any individual's personal circumstances, investment objectives, or risk tolerance.