How to create and set-up your Oanda brokerage account

In this article, we will show you how to create, configure, and connect your Oanda brokerage account.

Hugging Trade is a trading platform that allows you to work with numerous brokers, however we prefer Oanda for its speed of execution, fast withdrawal, and commitment to its clients.

Note

Oanda is the preferred broker if you reside in the USA or Canada.

If you reside in the United Kingdom, Europe, Asia, Africa, Oceania or the Americas, then IC Markets is the preferred broker.

Step 1 - Open your live trading account

Step 2 - Now you will be instructed to enter your personal details.

Step 3 - Please confirm your citizenship and your Social Security Number (SSN) or Taxpayer Identification Number (TIN)

Step 4 - Please confirm your primary residence

Step 5 - Please confirm your employment status

Step 6 - Please confirm your employment details and personal financial history

Step 7 - Trading experience, please select the options relevant to your investment experience. Please see this as example

Step 8 - Please verify your identity with an accepted form of government ID

Note

It's that simple, less the 2-minutes to sign-up. Please review your application and then complete the declaration.

Once your application has been submitted, you will be asked to upload a form of government ID, either Passport or Drivers License.

On approval, you will have full access to your Oanda dashboard, whereby you can locate your MetaTrader 4 (MT4) details and deposit funds.

One inside your dashboard, please ensure that you activate a Live account, not Demo.

Note

Remember, please sign up with a "Spread-Only" account and not a "Core Pricing" account.

Please ensure that the leverage of your Live account has been set to 1:50

Happy Trading! 🙌

Team Hugging Trade