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  • OANDA acquires TradeStation's forex trading accounts

    From reuters.com

    Online currency broker OANDA announced on Wednesday that the company has acquired all of the foreign exchange trading accounts of IBFX, Inc, also known as TradeStation Forex. IBFX is a unit of TradeStation Group, Inc. The announcement comes as IBFX exits the forex dealer business, with the transfer scheduled to take place on March 4. The financial terms of the deal were not disclosed. "Our shared values on these crucial matters were a key reason for striking this deal, rather than any others we've recently considered," said OANDA President and CEO Ed Eger. "These new clients join a rapidly growing OANDA community ... (full story)

It Sure would be nice if US citizens could pick brokers outside of SEC control, across the world. I'm not so glad that I've been 'protected' from to big to fail by Dodd/Frank. Another falsely named 'regulation' (that carries the weight of law).
Quoting wlarimer
It Sure would be nice if US citizens could pick brokers outside of SEC control, across the world. I'm not so glad that I've been 'protected' from to big to fail by Dodd/Frank. Another falsely named 'regulation' (that carries the weight of law).
I'll second your comment!!!
There's plenty of risk in 4x without adding to it with unregulated foreign brokers. I don't mind the regulations if they keep U.S. brokers honest and financially secure.
I don't mind keeping the brokers honest and secure. But I would like the FIFO rule taken out and 50:1 leverage increased again to 200:1 or 400:1 again. It's a great tool for traders who know what they are doing!
Quoting PA is King
I don't mind keeping the brokers honest and secure. But I would like the FIFO rule taken out and 50:1 leverage increased again to 200:1 or 400:1 again. It's a great tool for traders who know what they are doing!
well said
ONE MUST LEARN, DO IT AND IT WILL BE KIND TO YOU
Quoting Aussi
well said
Thank you kind Sir!
Quoting PA is King
I don't mind keeping the brokers honest and secure. But I would like the FIFO rule taken out and 50:1 leverage increased again to 200:1 or 400:1 again. It's a great tool for traders who know what they are doing!
what's the fifo rule?
Hope for the best, prepare for the worst.
heck, if retail FX were regulated to add LIFO just like the market they mark up does (futures) that'd be lovely as well...
"Holy Grail" exists - accepting where is the first step.
Quoting PA is King
I don't mind keeping the brokers honest and secure. But I would like the FIFO rule taken out and 50:1 leverage increased again to 200:1 or 400:1 again. It's a great tool for traders who know what they are doing!
In general the reason why you want the FIFO rule changed is so you can exit a later trade, right? Just reset your stop to a one pip move and presto, your trade will be closed near where you wanted. NO FIFO
If you believe anything the SEC does is to protect retail traders then you haven't been trading very long...
Quoting Pharm0r
If you believe anything the SEC does is to protect retail traders then you haven't been trading very long...
No doubt about it. With dodd/frank regs in place, US traders are down to 4 or maybe three, very crooked brokers that cheat like h3ll against you once you get your account to high five or six figures. It's universal among what we have available . Once you double your account every two or three months, You'll be taken out of the loser pool and your account will be set up on a desk, to trade against you. FXCM will freeze your platform, sometimes for 15 minutes during volatile periods. They may or may not honor your limits and stops. Since there is less and less competition for my account, the remaining can cheat more and more. As for the CFTC, it is a group of representatives from big commodity trading houses. They will Never find wrongdoing among cheating dealers (so that when they get called on their own dirty dealing, they also get a pass.
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I have been with Oanda since 2006 and before that was with FXCM since 2001. I have never ran into any of the issues you guys are talking about. In the early days the ""VOLATILE FREEZE"" happens not on purpose, but because of technology that can not handle the huge influx of data during news. If you still have that issue with your current broker, then your broker needs a technology makeover. I have a six figure account that I built from a 4 figure account over the last 15 years and if I have ever been flagged or monitored, I never noticed.

I do agree that leverage in the right hands is a powerful tool. I myself have been using 50:1 with Oanda since before DODD/FRANK and am happy with it but as traders we should be able to use what we want and not have a big brother watching over us.
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  • Story Stats
  • Posted: Feb 24, 2016 3:26pm
  • Submitted by:
     Newsstand
    Category: Forex Industry News
    Comments: 12  /  Views: 4,587