Forex traders understand the importance of keeping track of exchange rates. However, with so many currency pairs in the market, keeping track of exchange rates manually can be a daunting task. Fortunately, online trading platforms like OANDA have made it easy for traders to add and monitor their preferred currency pairs. In this article, we will take a closer look at how to add rate pairs forex using OANDA.
OANDA is a leading online trading platform that provides traders with access to the forex market. The platform offers a user-friendly interface, robust charting tools, and a wide range of features that make forex trading accessible to both novice and experienced traders. To add rate pairs forex using OANDA, follow these simple steps:
Step 1: Log in to your OANDA account
The first step to adding rate pairs forex using OANDA is to log in to your account. If you do not have an account, you will need to create one before you can access the platform.
Step 2: Navigate to the rates tab
Once you are logged in, navigate to the rates tab, which can be found at the top of the platform’s homepage. Here, you will find a list of all the currency pairs available on the platform, along with their current exchange rates.
Step 3: Add your preferred currency pairs
To add your preferred currency pairs, simply click on the “add pair” button, which is located at the top of the rates tab. This will open a drop-down menu that allows you to select the currency pairs you want to add.
Step 4: Customize your currency pair list
Once you have added your preferred currency pairs, you can customize your list by rearranging the pairs in order of preference, or removing pairs that you no longer want to monitor. To rearrange the pairs, simply click and drag them to the desired position. To remove a pair, hover over it and click on the “x” icon that appears.
Step 5: Monitor your currency pairs
Once you have added and customized your currency pair list, you can start monitoring your preferred pairs. The platform provides real-time exchange rates, so you can keep track of market movements and make informed trading decisions.
Benefits of adding rate pairs forex using OANDA
Adding rate pairs forex using OANDA has several benefits for traders. Here are some of the key advantages:
1. Easy access to exchange rates: OANDA provides traders with easy access to exchange rates, making it easy to monitor market movements and make informed trading decisions.
2. Customizable watchlist: The platform allows traders to customize their watchlist to suit their preferences, enabling them to monitor their preferred currency pairs more efficiently.
3. Real-time exchange rates: OANDA provides real-time exchange rates, ensuring that traders have access to the most up-to-date information about the market.
4. User-friendly interface: The platform has a user-friendly interface that makes it easy for traders to navigate and find the information they need.
Conclusion
Adding rate pairs forex using OANDA is a simple and straightforward process that can help traders keep track of exchange rates more efficiently. The platform provides real-time exchange rates, a customizable watchlist, and a user-friendly interface, making it an excellent choice for both novice and experienced traders. By following the steps outlined in this article, traders can add their preferred currency pairs to their watchlist and start monitoring the market with ease.
