Practice accounts are a good opportunity for you to explore and understand OANDA’s five trading platforms. Below are some common questions about practice accounts.
How do I setup an MT4 practice account? back to top
1. Log in in to your practice account on our website
2. Click on ‘Add Sub-Account’
3. Select account type ‘v20 MetaTrader 4’
4. Create an account password, set name and account leverage. Click ‘Save’
5. Note your MT4 login ID and server name
6. Click on 'Deposit' to add virtual funds to your newly created practice account
7. Download MT4 platform
8. Click on 'File' and select 'Login to Trade Account'
9. Select your assigned trading server, enter your login credentials and click 'Login'
Can I add real money to my practice account? back to top
No, you are not able to add real money to your practice account. You will need to register for a live account separately on our website if you want to use real money.
How do I switch to a live account? back to top
If you have a practice account, you will need to register a separate live account via our website. We cannot convert a practice account into a live account.
Will I need to open a practice or demo account before opening a live account? back to top
No. You are not required to open a practice account. You can register for a live account right away on our website if you want to use real money.
How do I change the balance of my practice account? back to top
1. Sign in to your practice account on our website
2. Click on ‘Manage Funds’
3. Select the account and click ‘Deposit’ to add virtual funds and ’Withdraw’ to reduce your practice account balance.