Cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) have gained significant traction among investors. OANDA, a globally recognized broker, offers CFD trading for these digital assets via its MetaTrader 5 (MT5) platform. This guide outlines the step-by-step process to start trading cryptocurrencies on OANDA.
Prerequisites for Trading Cryptocurrencies on OANDA
Before executing trades, ensure you:
- Open an OANDA Account: Complete the registration process.
- Fund Your Account: Deposit funds via credit card or other approved methods.
- Download MT5: Install the MT5 trading software.
👉 Learn more about OANDA account funding options
Step-by-Step Guide to Trading Bitcoin (BTC) on MT5
Step 1: Log in to MT5
- Enter your OANDA account credentials.
- Select the server: OANDA-OGM MT5 Live.
Step 2: Locate Bitcoin (BTC/USD) in the Market Watch
- Right-click on "Symbols" under Market Watch.
- Choose "Show All" or manually search for "BTCUSD" under the Crypto category.
Step 3: Open a BTC/USD Price Chart
- Right-click BTCUSD in Market Watch.
- Select "Chart Window" to view real-time price movements.
Step 4: Place Your Trade Order
- Right-click on the chart → "Trading" → "New Order".
- Configure order type (Buy/Sell), lot size, and risk management tools (Stop Loss/Take Profit).
Cryptocurrencies Available for Trading on OANDA
OANDA supports 18+ crypto CFDs, including:
- Bitcoin (BTC/USD)
- Ethereum (ETH/USD)
- Litecoin (LTC/USD)
- Dogecoin (DOGE/USD)
- Cardano (ADA/USD)
Full list:
| Crypto Pair | Symbol |
|---|---|
| Bitcoin Cash | BCH/USD |
| Binance Coin | BNB/USD |
| Solana | SOL/USD |
Advanced Features on OANDA’s MT5 Platform
- Custom Indicators & EAs: Enhance trading with OANDA-developed tools.
- Web & Mobile Optimization: Trade seamlessly via upgraded MT5 interfaces.
👉 Explore OANDA’s proprietary trading tools
FAQs About Crypto Trading on OANDA
Q: Does OANDA offer leverage for crypto CFDs?
A: Yes, but leverage varies by asset and region due to regulatory limits.
Q: How are crypto prices determined on OANDA?
A: Prices reflect underlying market liquidity and OANDA’s pricing model.
Q: Can I trade crypto 24/7 with OANDA?
A: Crypto CFDs are available 24/5, mirroring MT5’s trading hours.
Additional Resources
Disclaimer: Crypto trading involves high risk. OANDA provides CFDs, not direct crypto ownership.