So, you are trading with Oanda and looking into connecting your account with the Collective2 platform. You are in the right place. You should definitely read our collective2 review for all the details on the platform and what they offer.
With this done, you may be wondering how exactly to make a Collective2 Oanda account connection. No need to worry, this step-by-step guide from us will show you exactly how.
Let’s take a closer look.
Table of contents
How to connect Oanda with Collective2?
This process of connecting your Oanda account to Collective2 is much the same as with connecting any broker. Here we will go through each step of the process:
1. Open your Oanda account
The very first step you will need to take is to open your account with Oanda. Oanda has a great demo account if you would like to start there for some risk-free practice. Once you are ready you can then move on and visit the Oanda website (73.5% of retail CFD accounts lose money) or do this right away if you wish.
The process is convenient and fast and Oanda does not require any minimum deposit. You can typically have your account verified and open very quickly within a few hours or at most a couple of business days. It is worth noting that using Oanda with C2 is only available to US clients at present.
2. Open your account with Collective2
With your Oanda account now open, you can move on to open your Collective2 account. Starting at their homepage you can choose to open an investor, or strategy manager account. Here we will focus on the investor account.
Again the process is fast and easy to follow through the on-screen prompts. Once you arrive at the platform and have logged in you can access the strategy you want through the ‘Leaderboard’ area. Here you can click the subscribe button on any strategy you would like to subscribe to and enter the requested information as shown below.
3. Choose your C2 AutoTrade Plan
With a strategy you would like to subscribe to selected you can move on to setting up your C2 AutoTrade plan. You can start this by clicking the ‘Set Up AutoTrade’ button which will appear on top of the screen. You will then have several options to choose from on AutoTrade plans.
These include Solo, Standard, Portfolio, and Portfolio Plus Plans which have varying prices from $49 to $299 monthly or you can choose to pay annually. All you need to do from here is input your payment card details and continue.
4. Connect your Oanda Account
With both accounts now open, you can set about connecting them to each other. There are two different paths you can choose when connecting your C2 platform and Oanda account both with the same outcome.
The first one is by clicking the ‘Continue to set up the AutoTrade’ button that shows up at the top of the screen. You can also click the Invest/AutoTrade option in your sidebar and then ‘Control Panel’ as shown below.
This control panel is where you will see all the strategies you have subscribed to. All you need to do is Click ‘Set up the AutoTrade’ on the strategy you want to engage and you can move on.
The next thing to do is select the option that shows ‘All available brokers’ and click Oanda as your broker. you then simply continue to follow the on-screen prompts to get set up. Remember that Oanda is available to connect only for US clients.
5. Set up your AutoTrade Settings
The next step to follow in the process is that you will need to activate the AutoTrade settings. You can activate a number of settings including Stop Loss, Trade Management, AutoTrade Scaling, and Join trade in progress depending on your preferences. Once you have done this, it is as simple as clicking ‘Turn on AutoTrade’.
6. Accept the Collective2 T&C
The only thing really left for you to do is to read and confirm the terms and conditions of Collective2. You just need to type ‘I Agree’ on each page and click ‘Accept and Continue’ at the bottom and you should be all done.
The last remaining thing to do is download the correct form and sign it. Then, along with a copy of your ID, you can send it through to the C2 support team via electronic upload. You will then be completely verified within 24 to 48 hours.
Pros of connecting your Oanda Account to Collective2
Features of Oanda you can enjoy with C2 as a US trader:
They are extremely well-regulated by ASIC, MAS, FSA, FCA, NFA, and the IIROC
No minimum deposit is needed at Oanda
The broker has more than 70 forex pairs available with competitive spreads all round
Features of C2:
C2 is NFA regulated to operate in the US
They offer both monthly and annual subscription options
You can subscribe as a strategy manager or as an investor
Anthony is a financial journalist and business advisor with several years’ experience writing for some of the most well-known sites in the Forex world.
A trader turned industry writer, he is currently based in Shanghai with a finger on the pulse of Asia’s biggest markets.
He is a keen golfer with a very high handicap so when not helping you find the best broker for your needs, you may find him on the course or just as likely following any number of sports from the comfort of his sofa.
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