Forex Oanda Trading Platform - Good for Beginner Traders?

By: Kelvin Chan

Not too long ago, someone (a friend) wanted to get started with forex trading and asked me for advice with regards to which trading platform and broker to start with so that the learning curve wouldn't be that steep.

Without a moment's hesitation, I answered with Oanda as the recommended trading platform to start with. You see... when I first started trading forex, I used Oanda and found myself picking things up really quickly and I suspect that's the case for most beginner traders starting out.

Here's the thing with them though... They don't have trailing stops which isn't a biggie in my opinion. Their indicators leaves a lot to be desired as well together with their charting (which probably is the biggest reason NOT to use them from the onset). So what you essentially got to do is weigh your pros and cons.

In any case, they have what it's called FXGame and it doesn't cost you a cent to try that out. FXGame is their demo trading platform and with that, you get a very similar experience to what you'll experience with FXTrade (which is their live trading platform).

Oanda's FXTrade is JAVA based so it doesn't quite matter if you're running Windows or MacOS. You're good to go on both accounts.

Before I leave you to decide for yourself if you want to give Oanda a shot, I'll also like to suggest a very popular alternative which is called Metatrader. Google it and you'll find it in a sec.

Foreign Exchange
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