Difference between revisions of "OANDA Broker Profile"
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| + | '''<div style="background-color: #E3FBE5;">Click [http://www.multicharts.com/downloads/tutorials/OANDA.mp4 here] to see the video tutorial on how to connect OANDA Broker Profile.</div>''' | ||
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| + | If you need '''data''' from OANDA data source, make sure you have [[OANDA|'''OANDA data feed''']] set up. | ||
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| + | It is not possible to log into '''two different accounts''' (different login/password) of the same type at a time. You can log into a Live account and a Demo account at the same time, but not two Live or two Demo connections simultaneously. | ||
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| + | Open position Profit/Loss is calculated in MultiCharts as it is not provided by OANDA API. | ||
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| + | For FOREX trade size should be equal to the number of units, not trade lots. | ||
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| + | Stop-Limit orders are not supported by OANDA. | ||
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| + | OANDA does not support Native One-Cancels-Others group. In this case MultiCharts emulates an OCO-group on its end. Simulated OCO-group means that all OCO orders are sent to the broker, price is monitored by MultiCharts and once one of the orders is filled, other orders from this OCO group are cancelled by MultiCharts. When one of the OCO orders is filled, MultiCharts sends a command to cancel the second OCO order to broker. Note that the second order may also be filled if price reaches its level before the cancellation is processed by the broker (see [[Trading Risks# OCO-Orders Risk|OCO-Orders Risk]]). | ||
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| + | '''<div style="background-color: #E3FBE5;">Note: OANDA Access Token expires in 8 days. One will need to re-authorize his OANDA connection to obtain a new token.<br>OANDA systems may be unavailable during the weekend due to maintenance on the broker end. Once the system is up one needs to re-authorize in the pop-up window in order to re-establish connection to OANDA.</div>''' | ||
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====Setting up OANDA Broker Profile==== | ====Setting up OANDA Broker Profile==== | ||
In the Properties OANDA window (see [[Broker Profiles Overview#Managing Broker Profiles|Managing Broker Profiles]]) enter the information provided by OANDA: | In the Properties OANDA window (see [[Broker Profiles Overview#Managing Broker Profiles|Managing Broker Profiles]]) enter the information provided by OANDA: | ||
| − | + | * Select the '''fxTrade Practice''' button for demo account or '''fxTrade''' button for live account. | |
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| + | When you connect the OANDA broker profile a new window will open where you should enter your OANDA Username and Password and select the required account. | ||
<br> | <br> | ||
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| + | <div style="background-color: #F0F8FF;">After the broker profile is set up, you can select it for trading, see the '''[[How to Select a Broker Account For Trading]]''' guide.</div> | ||
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| + | == Troubleshooting == | ||
| + | * '''After clicking “Sign In” the OANDA Network Logon window opens up again'''<br>Make sure the correct account type is selected in the OANDA broker profile settings: '''fxTrade Practice''' for demo account or '''fxTrade''' for live account<br> | ||
| + | * '''Impossible to connect to OANDA trading system'''<br> This message usually appears when an OANDA Europe or TMS account is used.<br>OANDA restricts API trade execution from 3rd party platforms for European residents registered under OANDA Europe Limited to conform the MIFID 2 regulations.<br>Please contact the OANDA team to get an account that allows 3rd party access. | ||
[[Category:Broker Profiles]] | [[Category:Broker Profiles]] | ||
Latest revision as of 13:05, 27 October 2023
If you need data from OANDA data source, make sure you have OANDA data feed set up.
It is not possible to log into two different accounts (different login/password) of the same type at a time. You can log into a Live account and a Demo account at the same time, but not two Live or two Demo connections simultaneously.
Open position Profit/Loss is calculated in MultiCharts as it is not provided by OANDA API.
For FOREX trade size should be equal to the number of units, not trade lots.
Stop-Limit orders are not supported by OANDA.
OANDA does not support Native One-Cancels-Others group. In this case MultiCharts emulates an OCO-group on its end. Simulated OCO-group means that all OCO orders are sent to the broker, price is monitored by MultiCharts and once one of the orders is filled, other orders from this OCO group are cancelled by MultiCharts. When one of the OCO orders is filled, MultiCharts sends a command to cancel the second OCO order to broker. Note that the second order may also be filled if price reaches its level before the cancellation is processed by the broker (see OCO-Orders Risk).
OANDA systems may be unavailable during the weekend due to maintenance on the broker end. Once the system is up one needs to re-authorize in the pop-up window in order to re-establish connection to OANDA.
Setting up OANDA Broker Profile
In the Properties OANDA window (see Managing Broker Profiles) enter the information provided by OANDA:
- Select the fxTrade Practice button for demo account or fxTrade button for live account.
When you connect the OANDA broker profile a new window will open where you should enter your OANDA Username and Password and select the required account.
Troubleshooting
- After clicking “Sign In” the OANDA Network Logon window opens up again
Make sure the correct account type is selected in the OANDA broker profile settings: fxTrade Practice for demo account or fxTrade for live account - Impossible to connect to OANDA trading system
This message usually appears when an OANDA Europe or TMS account is used.
OANDA restricts API trade execution from 3rd party platforms for European residents registered under OANDA Europe Limited to conform the MIFID 2 regulations.
Please contact the OANDA team to get an account that allows 3rd party access.
