How to Start Trading Bitcoin (BTC) and Other Cryptocurrencies on OANDA’s MT5 Platform

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The world of cryptocurrency trading continues to grow in popularity, with digital assets like Bitcoin (BTC) and Ethereum (ETH) capturing the attention of investors worldwide. As a globally recognized broker, OANDA offers access to cryptocurrency trading through Contract for Difference (CFD) products on the powerful MetaTrader 5 (MT5) platform.

This guide walks you through the complete process of starting to trade Bitcoin and other cryptocurrencies on OANDA’s MT5 platform — from account setup to placing your first trade.

👉 Discover how to begin your crypto trading journey with a trusted global platform.

Step 1: Open an OANDA Account and Fund It

Before you can start trading, you'll need to create a live trading account with OANDA. The registration process is straightforward and requires basic personal and financial information to comply with regulatory standards.

Once your account is approved, fund it using one of OANDA’s supported deposit methods, such as credit/debit cards or bank transfers. A funded account is essential to begin live trading.

Next, download and install the MT5 trading platform, which provides advanced charting tools, technical indicators, and automated trading capabilities.

Step 2: Log In to the MT5 Platform

After installing MT5, launch the application and log in using your OANDA account credentials:

  1. Enter your account number and password.
  2. Select the server: OANDA-OGM MT5 Live.
  3. Click “Login” to access your trading dashboard.

Ensure you're connected to the correct server to view available instruments and execute trades seamlessly.

Step 3: Locate Cryptocurrency Trading Instruments

To start trading Bitcoin or other digital currencies, you must first display them in the Market Watch window:

Alternatively:

You can use the same method to add other cryptocurrencies offered by OANDA, such as Ethereum (ETHUSD), Dogecoin (DOGEUSD), or Solana (SOLUSD).

Step 4: Open a Cryptocurrency Price Chart

To analyze price movements and make informed decisions:

A new chart will appear, displaying real-time and historical price data for Bitcoin. You can customize this chart with various timeframes, drawing tools, and technical indicators like Moving Averages or RSI.

Technical analysis on MT5 helps traders identify trends, support/resistance levels, and potential entry/exit points.

Step 5: Place Your First Trade

With the chart open, placing a trade is simple:

  1. Right-click on the chart.
  2. Go to Trade → New Order.

  3. The order window will appear, showing:

    • Current bid/ask prices
    • Option to select Buy (Market Execution) or Sell
    • Volume (lot size)
    • Stop Loss and Take Profit levels (optional but recommended)

Choose your position direction based on your market outlook:

Confirm the order, and your trade will be executed instantly under market conditions.

All open positions appear in the Terminal window under the “Trade” tab, where you can monitor performance and manage risk.

Available Cryptocurrencies for Trading on OANDA

OANDA supports CFD trading on 18 major cryptocurrencies, giving traders diversified exposure across the digital asset market:

This variety allows traders to capitalize on different blockchain ecosystems and emerging trends within the crypto space.

Why Use MT5 for Crypto Trading?

MetaTrader 5 is more than just a trading interface — it's a comprehensive solution designed for both novice and experienced traders.

Key features include:

OANDA also enhances MT5 with proprietary tools developed by its Japan team, including exclusive indicators and automated trading scripts tailored for volatile markets like cryptocurrency.

👉 Access powerful trading tools designed for modern market dynamics.

Frequently Asked Questions (FAQ)

Q: Is cryptocurrency trading on OANDA done with real coins?

No. OANDA offers cryptocurrency trading via CFDs (Contracts for Difference), meaning you speculate on price movements without owning the underlying digital assets. This allows for leveraged trading and short-selling.

Q: Can I trade crypto 24/7 on MT5 with OANDA?

Yes. Cryptocurrency markets operate around the clock, and OANDA enables 24-hour trading, five days a week (Monday to Friday). Trading typically halts over weekends when liquidity is low.

Q: What are the risks of trading crypto CFDs?

Cryptocurrencies are highly volatile. Prices can swing dramatically in short periods, increasing both profit potential and risk of loss. Always use risk management tools like stop-loss orders and position sizing.

Q: Does OANDA offer demo accounts for practicing crypto trading?

Yes. You can open a free demo account with virtual funds to practice trading BTCUSD and other cryptos risk-free. It's ideal for learning MT5 functions and testing strategies.

Q: Are there fees for holding crypto CFD positions overnight?

Yes. Overnight positions may incur swap fees (or rollover interest), depending on the direction of your trade and applicable financing rates. These are automatically calculated in the MT5 platform.

Q: Can I use automated trading bots on OANDA’s MT5?

Absolutely. MT5 fully supports Expert Advisors (EAs) — automated trading robots that execute trades based on predefined rules. You can develop your own or install third-party EAs compatible with OANDA’s server settings.

Enhance Security: Set Up a Read-Only Password

For added security, especially when sharing charts or allowing limited access, set up a read-only password on MT5:

This feature is useful for educational purposes or when working with analysts or mentors.

Trading cryptocurrencies like Bitcoin on OANDA’s MT5 platform combines global market access with professional-grade tools. Whether you're analyzing ETHUSD trends or executing fast-paced DOGEUSD trades, MT5 delivers speed, precision, and flexibility.

👉 Start exploring advanced trading opportunities today.