How to trade on the OANDA One sub-accounts using the MT5 applications? 

You can also use the MetaTrader 5 Windows, iPhone, Android and web applications. You may also use the MetaTrader 5 Mac application, which is not officially supported by OANDA.

1. Launch the MT5 platform.

2. Click on File.

3. Click on Login to TradeThe actual execution of buying or selling an asset, resulting in a completed transaction. Account.

4. Enter your login, password and assigned server. You can find the login and server information in the HUB. For information about creating or changing the password, refer to this detailed FAQ.

   

2FA on the MT5 platform is optional. For details, refer to MetaTrader’s documentation.

Refer to the procedure for creating additional accounts from the HUB. You can create a maximum of three OANDA One sub-accounts.

For OANDA One accounts provided to you by default, the password would be the same as your HUB password.

For OANDA One sub-accounts created by you, the password would be what you provided. If you would like to reset your password, follow these steps:

1. Log in to the HUB.

2. In the PROFILE SETTINGS section, go to Manage password.

3. Select the OANDA One tab.

   

4. Reset your password.

You can grant read-only access to other users with an investor password. When someone uses the investor password to login to an MT5 account, they can only view account activities and history. They cannot enter or modify any orders nor make changes to the account. Follow these steps to create an investor password:

1. Click on Tools.

2. Click on Options.

3. Click on the Server tab.

4. Click on Change.

   

5. Enter your MT5 account password.

6. Select Change Investor (read only) password.

7. Enter the desired password in the New password and Confirm fields.

8. Click on OK to complete the investor password set-up.

   

1. Go to Market Watch located on the left side of the platform.

2. Right-click on the instrument you want to trade.

3. Click on New OrderAn instruction to buy or sell an instrument under the specified conditions to open an order ticket.





4. Select the symbol of the instrument you want to trade.

5. Select Market Execution to enter an order at the current market bid and ask prices.

6. Enter the volume of the order. Refer to the contract size in the symbol specification.

7. Enter the stop loss price to close the order at a predetermined price and prevent further losses if the market moves against you. Stop Loss orders are subject to slippage.

8. Enter the take profit price to close the order at a predetermined price and realise the profits if the market moves in your favour. Take Profit orders are subject to slippage.

9. Fill policy is only applicable to Market Execution orders and only offered as Fill or Kill . As defined by MetaTrader, this execution policy means that an order can be executed only in the specified volume. If the necessary amount of a financial instrument is currently unavailable in the market, the order will not be executed.

   On Share CFDs the fill policy is Market Immediate or Cancel (IOC). As defined by MetaTrader, this execution policy means in this case a trader agrees to execute a deal with the volume maximally available in the market within that indicated in the order. In case the order cannot be filled completely, the available volume of the order will be filled, and the remaining volume will be cancelled.

10. Leave a comment about the specific order. Some traders use this feature to help manage their orders.

11. Sell by Market places a sell/short market order. Buy by Market places a buy/long market order.

1. Go to Market Watch located on the left side of the platform.

2. Right-click on the instrument you want to trade.

3. Click New Order.

   

   

4. Select the symbol of the instrument you want to trade.

5. Select the Pending Order type.

6. Select the type of pending order.

   1. Buy limit: To enter a buy order at a price lower than the current market price.

   2. Sell limit: To enter a sell order at a price higher than the current market price.

   3. Buy stop: To enter a buy order at a price higher than the current market price.

   4. Sell stop: To enter a sell order at a price lower than the current market price.

7. Enter the volume of the order. Refer to the contract size in the symbol specification.

8. Enter the price at which you want the order to be triggered.

9. Enter the Stop Limit price (only applicable to Buy Stop Limit and Sell Stop Limit orders) which sets the buy or sell limit order trigger price after the stop level (set in ‘Price’ field) has been reached.

10. Enter the stop loss price to close the order at a predetermined price and prevent further losses if the market moves against you. Stop Loss orders are subject to slippage.

11. Enter the take profit price to close the order at a predetermined price and realise the profits if the market moves in your favour. Take Profit orders are subject to slippage.

12. Enter Expiration criteria and the time limit by which the order must be executed.

    1. GTC: Good-till-cancelled will keep the order until it is triggered or cancelled by the user.

    2. Today: The system will keep the order until the end of the trading day

    3. Specified: You can specify the date and time (set in ‘Expiration date’ field) after which the order will be cancelled.

    4. Specified day: You can specify the date (set in the ‘Expiration date’ field) after which the order will be cancelled.

13. Enter the Expiration date to set a date and time after which the order should be cancelled.

14. Leave a comment about that trade for future reference.

15. Click on Place to submit the order.

To close your positions or pending orders, follow these instructions:

1. From the Toolbar, select the Trade tab.

2. Right-click on a order to see the order menu

3. Click on Close Order to finalise the closure. Alternatively, you can close a pending order or a current position by clicking on the x icon shown under the Profit column on the Trade tab.

   

1. Locate the object toolbar which is in the top left corner of the platform.

   

2. Click on any icon in the object toolbar.

3. Click on the chart and drag to draw the object on the chart.

   

4. Select and drag the object to change its size and/or position. You can also right-click on any object to open a customisation menu. Use the menu options to edit or delete the object.

   

The following image shows the list of objects available on the MT5 platform:

1. Use the cursor to select various objects on the chart.

2. Draw a crosshair. To highlight coordinates of the selected point in the chart or indicator window. This mode can only work within an active chart window. Click and drag on an active chart whilst in “Crosshair'' mode, to draw a line connecting two points. The distance between the points and the current price value will be highlighted to the right of the second point in the line.

3. Draw a vertical line on the chart.

4. Draw a horizontal line on the chart.

5. Draw a freehand trendline anywhere on your chart.

6. Draw an equidistant channel.

7. Draw a Fibonacci retracement

8. Draw a text label. After this button has been pressed, one should select a point in the chart where the label should be placed. Unlike the Draw text object, the Draw text label object is attached to the chart window. When the chart is scrolled, the text label does not move.

9. Use arrows to manage, add or delete graphical symbols.

Indicators allow you to analyse the chart and identify trading opportunities on the MT5 platform.

1. Go to the Navigator window. Select an indicator and drag it to your chart.

2. Once the indicator has been placed on the chart, a window will open and allow you to modify the settings of the indicator.

   

You can also add an indicator to the chart via the menu bar:

1. Go to Insert.

2. Go to the Indicator option.

3. Select your preferred indicator from the drop-down list.

To edit or remove an indicator, you can right-click on any indicator and open the customisation menu.

1. Right-click on the indicator to open the customisation menu.

2. Edit the properties of this indicator.

3. Access the full list of indicators added on this chart.

4. Delete the indicator.

5. Delete Indicator Window is only applicable to indicators with its own window, as shown in this example of ADX, and not applicable to the overlay style of indicators that sit on top of the chart such as a Moving Average.

1. From the Toolbox, go to the Alerts tab.

2. Right-click anywhere on the blank space in this section.

3. Click on Create to add a new price alert.

Following are Alert Editor options:

1. Enable On/Off allows you to enable/disable the alert. The alert will not be deleted when disabled.

2. Action allows you to configure an action when an alert is triggered. These actions include:

   1. Sound that plays a sound file

   2. File that runs an executable file

   3. Email that send an email to an email address specified in platform options

   4. Notification that sends a push notification to an Android or iOS mobile device. Sending push notifications requires specification of the MetaQuotes ID in the Toolbox settings.

3. Expiration enables you to set a time limit for your price alert. After the alert reaches the time limit, the alert will be automatically deleted.

4. The Symbol field specifies the instrument.

5. The Condition field determines the trigger criteria for the alert:

   1. ‘BidThe prevailing buy price.>’ – the bid price is higher than the specified value. If the bid price exceeds the given value, the alert will trigger.

   2. ‘Bid<’ – the bid price is lower than the specified value. If the bid price goes under the given value, the alert will trigger.

   3. ‘AskThe prevailing sell price.>’ – the ask price is higher than the specified value. If the ask price exceeds the given value, the alert will trigger.

   4. ‘Ask<’ – the ask price is lower than the specified value. If the ask price goes under the given value, the alert will trigger.

   5. ‘Time=’ – time is equal to the given value. The alert will trigger after the amount of time specified.

6. The Value field allows you to specify the trigger criteria value of the condition, such as the trigger price for an alert.

7. The Source field depends on the type of action performed when your alert is triggered. One of the following is specified:

   1. A sound file in *.wav, *.mp3 or *.wma.

   2. An executable file in the *.exe, *.vbs or *.bat format.

   3. A push message text. The maximum message length is 255 characters.

8. The Timeout field allows you to set a break period between alerts. New triggers will not generate alerts within this timeframe.

9. The Maximum iterations field allows you to specify the maximum amount of times an alert should repeat triggers.

10. Click on OK to add the alert.

    

1. Go to the Toolbox window

2. Click on the History tab located at the bottom of the screen.

To customise the history or export it, right-click anywhere on the tab to open a menu. That menu allows you to view the history based on criteria such as Positions, Deals, Orders, and so on.

1. Click on View.

2. Click on Symbols.

   

3. Select the category of the instrument you wish to add.

4. Select the instrument you wish to add.

5. Click on Show Symbol to add it to your Market Watch.

6. Click on OK to exit the window after you have added all desired instruments.

   

Custom indicators are technical indicators coded in MetaQuotes Language 5 (MQL5) to assist in the interpretation of price action and trends. Custom indicators can be created by the user or purchased from third party providers on the MT5 market.

To import a new custom indicator to your MT5 application, follow these instructions:

1. Click on File.

2. Click on Open Data Folder.

3. Double-click on the MQL5 folder.

   

4. Double-click on the Indicators folder.

   

5. Paste or drag and drop your custom indicators file into the Indicators folder

   

6. Close the data folder and restart your MT5 platform.

7. Locate your chosen indicator from the Navigator window and drag it to your chart to add it.

   

Expert Advisors (EAs), or experts, are programs coded in MetaQuotes Language 5 (MQL5)* to automatically place and manage trades for the user. EAs can be created by the user with programmable trading logics or purchased from third party providers on the MT5 market. Once enabled, EAs can monitor the market and trade for the user during market hours as long as the MT5 platform is running on a computer with a working internet connection.

To import a new EA to your MT5, follow these instructions:

1. Click on File.

2. Click on Open Data Folder.

3. Double-click on the MQL5 folder.

   

4. Double-click on the Experts folder.

   

5. Paste or drag and drop your expert advisor file into the Advisors folder.

   

6. Close the data folder and restart your MT5 platform.

7. In the Navigator panel, under Expert advisors, locate your newly added expert advisor and double-click on the expert advisor to apply it to the current active chart or drag and drop it onto your desired chart.

8. On the configuration window’s Commons tab, tick the Allow Algo Trading option. The Input tab allows you to modify the expert advisor settings.

9. Click on OK.

   

10. Next, to enable the expert advisor and start auto trading, click on the Algo Trading button in the toolbar. You may also click on it in future to stop auto trading.

1. Download the MT5 windows platform from the HUB. The MT5 Mac platform, which is not officially supported by OANDA, can be downloaded from the MetaQuotes site.

2. On the installation licence agreement page, click on Settings.

   

   In the Installation folder and Program group fields, add a suffix for differentiation (for example, ‘-2’) at the end of ‘MetaTrader’ so that the new MT5 platform will not install itself in the same location as any other MT5 platform on your computer.

3. Click on Next to finish the installation.

   

The newly installed MT5 can now be run in parallel to any other MT5 application already installed on your computer.

Depth of market (DOM) offers transparency of pricing and lets you take advantage of lower spreads on some of our popular MT5 products. With DOM, the smaller the size of your trade, the tighter the spread we can offer.

To access the DOM option, please follow these instructions:

1. Under Market Watch, right-click on the desired instrument.

2. Click on Depth Of Market.

   

3. Alternatively, you can click on the Open Depth of Market icon located at the top left corner of the chart or press Alt +B on your keyboard.

   

4. DOM quote and volumes: the DOM window displays the real time buy and sell price and order volume available at each market depth level.

5. One click sell limit: click on an arrow to place a sell limit order at that specific DOM level with the preset values of steps 7-9.

6. One click buy limit: click on an arrow to place a buy limit order at that specific DOM level with the preset values of steps 7-9.

7. Preset SL: add the preset stop loss for your DOM orders in points. For example, type in 200 for a desired stop loss of 20 pips.

8. Preset order size: type in the preset order size for your DOM orders in lots.

9. Preset TP: add the preset take profit for your DOM orders in points. For example, type in 200 for a desired take profit of 20 pips.

10. Order selector: select the open order when there are multiple open orders of the same instrument for step 12’s close order function.

11. Sell: places a sell order at market with the preset values of steps 7-9.

12. Close: closes the only open order for this instrument or close the selected order in step 10 when there are multiple open orders of the same instrument.

13. Buy: places a buy order at market with the preset values of steps 7-9.

    

On the DOM window, the buy and sell prices and volume offered at each depth level dynamically update to show the real time ask and bid price offered by OANDA.

If you enter an order where the volume is greater than the number of lots available on the first level, the remaining portion of the order beyond the first level will be filled at the subsequent price level.

If the next level’s available volume is still not sufficient to fill the entire order, the process will repeat, filing down the depth of market until the entirety of the order has been filled. If the order being submitted is larger than the total volume available across all the price levels, the order will be rejected.

For example, if there is a first level with 10.00 available lots and an order for 11.00 lots is submitted, the first 10.00 lots of the order will be filled at the first level price, while the remaining 1.00 lot of the order will be filled at the second level price.

This means that the price of an order filling at depth will be calculated as a “Volume Weighted Average Price” (or VWAP), using prices from the depth of market. Each level being used in the calculation will contribute to the order’s price, weighted by the order volume being filled at each level.

Go to MT5 Web Trader for Live accounts or MT5 Web Trader for demo accounts and log in.

Difference between the MT5 Web Trader and the MT5 desktop platform: