Practice accounts FAQ

 

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.

Open a practice account
Open a live account
Platform user guide FAQ
Troubleshooting FAQ 


Information available on this FAQ

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.


Is the price feed for practice accounts the same as the price feed for live accounts? back to top

Yes, the practice price feed is the same as the live account price feed.

Does my practice account expire? back to top

No, your practice account does not expire, and you can use it for as long as you wish.

Can I hedge on your platform? back to top

Yes, hedging is supported on our platform. However, hedging is unavailable to residents of the United States on both live and demo accounts. If you reside in a country other than the United States, you will need to add an additional hedging sub-account via our website.

Upon logging in, I received a message ‘your account is locked’. What should I do? back to top

If you receive this message, please contact customer service by phone or live chat to reactivate your practice account. 

Other commonly asked topics back to top

Do you offer accounts to residents in my country? (coming soon)
What documents do I need to open a live OANDA account?
Types of accounts and leverage offered
What is margin and leverage?
Spread/cost of trading
Deposit methods
Supported platforms
Download OANDA desktop fxTrade platform
Download the MT4 platform

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