OANDA v20 Trading Engine FAQ's

What is the OANDA v20 Trading Engine?

The v20 trading engine is the new evolution of OANDA's trading engine and has been designed to provide superior order execution. We are upgrading all of our existing trading platforms to execute against the v20 engine, and currently the following platforms are supported - fxTrade (Desktop, iOS and Android apps), MT4 Windows terminal, and OANDA API. We will announce details of partner platforms as they become available.


What instruments are supported?

All instruments are available to trade.


What should you expect?

Many of the features are already available on the fxTrade legacy platform are available on our new v20 trading engine including;

  • fxTrade desktop, fxTrade mobile (iOS and Android) and MT4 are available to use
  • All instruments available - FX, Metals and CFDs (Index, Commodity and Bond)
  • Configurable account leverage from 10:1 through to 100:1. Up to 100:1 on major FX pairs (Note: 50:1 is the max account leverage available to OANDA Corporation, OANDA (Canada) Corporation ULC and OANDA Asia Pacific Pte Ltd. customers)
  • Account currencies available - AUD, CAD, CHF, EUR, GBP, HKD, JPY, SGD and USD
  • Position Management - ability to Close All, Close all profitable and Close all unprofitable
  • Practice Accounts


What are the differences between the v20 and the legacy engine?

We are committed to bringing our clients the best trading experience, and one of the aims with the v20 trading engine is to ensure that trades are executed as fast as possible.

Feature
v20
Legacy
Pricing
Depth of Market (fxTrade and fxTrade mobile only)
Single Bid/Ask
Order Types
Market, Entry, Stop Loss, Take Profit, Trailing Stop
Market, Entry, Stop Loss, Take Profit, Trailing Stop
Order Management
Close All, Good til cancelled
Close All, Order Expiry
Order Bounds
Single bound
Upper and Lower Bound
Maximum Order Size
Variable
10m for FX pairs
Account Type
Standard, Hedging
Standard
API
REST API
REST API, Java SDK
Partner Support
Future Feature
See Marketplace for Partner information
 


What is Depth of Market (DOM)?

We are also introducing Depth of Market (DOM) to our pricing, which means that our prices reflect the liquidity we are able to offer. As an example, for EUR/USD the depth of market could be;

Example 1: A buy market open for 500,000 EURUSD would be executed at a trade price of 1.13578.

Example 2: A buy market order for 1,000,000 EURUSD would have 500,000 units filled at a top-level price of 1.13578, the remaining 500,000 would be filled at 1.13580. The Volume Weighted Average Price (VWAP) execution price would be 1.13579.

Example 3: A sell order for 3,000,000 EURUSD would have 500,000 units filled at the price of 1.13570, 1,000,000 filled at 1.13568 and the remaining 1,500,000 filled at 1.13566. The resulting VWAP price of the executed order is 1.13567.


What servers do I use for v20 and MT4? 

We have implemented dedicated servers for trading against our new trading engine, and you must connect to the appropriate server.

  • For live trading you must select the server "OANDA-v20 Live"
  • For Practice accounts you must select "OANDA-v20 Practice"


If the MT4 server does not appear in the list, you may need to refresh the list of OANDA servers which can be achieved via the following steps;  

  1. Launch MT4, select File -> Open an Account

  2. Enter "OANDA" in the field "add new broker like..."

  3. A scan will occur which retrieves the list of available OANDA MT4 servers

  4. "OANDA-v20 Live" and "OANDA-v20 Practice" will now be available in the list
     


Are the prices and spreads different on v20 trading engine?

The pricing has been enhanced on our v20 accounts to take into account Depth of Market.


How do I see the Depth of Market?

Depth of market is accessible from the order ticket.

fxTrade - Click on the info icon info icon to see the Depth of Market

fxTrade mobile - Click on the DOM icon depth of market to see the Depth of Market


I'm using fxTrade mobile, and I can't see my v20 account?

Please make sure you have installed the latest version of the fxTrade app.

Apple Users - Download from the App Store 
Android Users - Download from the Google Play Store 


I'm an existing customer, can I open a v20 account?

Yes. You may open a sub-account which will automatically be a v20 trading account


Can I use the OANDA APIs with v20?

Yes. For more information please see our v20 Rest API getting started guide.


How do I use one of your Partner platforms?

OANDA Marketplace lists all our Partners, and these are available through our legacy platform. Please contact us via online chat to have your account setup.


Who do I contact if I have more questions?

If you would like to learn more, please contact OANDA via online chat or email frontdesk@oanda.com.


Disclaimer:  v20 Trading Platform is not available to OANDA Corporation ECP and OANDA Japan clients. Hedging capabilities are NOT available to residents of the United States

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