OANDA Desktop

Along with the well-known MetaTrader 4, the US broker OANDA Corporation provides its own web-based and desktop forex platforms. In general, both platforms are intended for more advanced traders and their use is more complicated.

Desktop version is java-based and some users may not like it because of the need to use more computer resources. In the default view, the chart window occupies most of the workspace. The background is black and the color range reminds of the layout of MetaTrader 4. Initially, there are 9 time-frames from 5 seconds to 1 week. Twelve more within these limits are available for selecting. More than 20 indicators shown in groups can be added from the Add Study button below the chart window. The zoom buttons are located next to it. The mouse scroll wheel has moves the price bar up and down, which is not so useful when using charts.

The instruments window is located on the left side and can be resized but cannot be hidden. Instruments can be displayed as a rate list or rates panel. Above it there is the account summary window that shows information about current funds and margin percentage indicator. An indicator value of 100% means closing of all positions (stop out level). The trades window is located on the upper side, which is somehow unusual. Here the position can be closed or modified.

Menus are vertically and horizontally located. The vertical menu includes the buttons – Advanced Charting (all graphical objects can be used here), Technical Analysis (available for live accounts only), News, Market Pulse and Economic Analysis. Each of them opens a new window in the web browser linking to the corresponding section of the company’s website. Almost all the features are available from the horizontal menu that includes Connection, Account, Tools, Resources, Windows and Help sections. Resources and Help menu options open links from the website.

Besides the other options related to the account, customers can change the chosen leverage from the Account menu in real time, regardless of whether they have open positions or not.

Different color schemes can be found in the Tools menu. Font size and Language can be changed from here as well. User preferences window can also be opened from this menu.