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OANDA Canada vs OANDA Corp.

  • Post #1
  • Quote
  • First Post: Jan 18, 2011 8:11pm Jan 18, 2011 8:11pm
  •  FXNewbie1
  • | Joined May 2008 | Status: Member | 38 Posts
Hi all,

I'm a Canadian and not sure which of the two I should get an account with.
One issue are the margin rules. oanda corp has up to 50:1 (2%)
http://fxtrade.oanda.com/help/policies/margin-rules

but oanda canada provides lower margin, the lowest (only available on a few of the majors) is 3%
http://fxtrade.oanda.ca/help/policie...n-requirements

This is the major difference I can find between the two. Oanda Canada comes with lower margin, but a different regulatory agency and also convenience with depositing/withdrawing funds.

Are there any other issues I should be looking at when deciding which option to choose?
Are there any Canadians on the forums who trade with OANDA, which did you choose, and why?
  • Post #2
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  • Jan 19, 2011 3:25pm Jan 19, 2011 3:25pm
  •  AEsparza
  • | Joined Apr 2008 | Status: Member | 31 Posts
FXNewbie1,

If your current place of residence is Canada, as per Canadian law you have to register with OANDA Canada. If your start registration on the US site you will be redirected once you fill out your residence details.

If you have any more questions post them here or directly through the OANDA fxTrade contact page:

http://fxtrade.oanda.com/help/customer-service/feedback


Alfonso Esparza
OANDA fxTrade Team
 
 
  • Post #3
  • Quote
  • Nov 8, 2011 9:08pm Nov 8, 2011 9:08pm
  •  starbucks
  • | Joined Aug 2008 | Status: Member | 83 Posts
Quoting AEsparza
Disliked
FXNewbie1,

If your current place of residence is Canada, as per Canadian law you have to register with OANDA Canada. If your start registration on the US site you will be redirected once you fill out your residence details.

If you have any more questions post them here or directly through the OANDA fxTrade contact page:

http://fxtrade.oanda.com/help/customer-service/feedback


Alfonso Esparza
OANDA fxTrade Team
Ignored
Hi Alfonso,

Oanda Canada is member of CIPF, so in case Oanda Canada become incolvent, CIPF will guarantee up to $1mil, what about Oanda US ?
~~ Happy Trading ~~
 
 
  • Post #4
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  • Nov 10, 2011 1:30pm Nov 10, 2011 1:30pm
  •  AEsparza
  • | Joined Apr 2008 | Status: Member | 31 Posts
starbucks,

In the U.S. the regulators do not insure customer funds for Retail Forex Brokers.
 
 
  • Post #5
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  • Last Post: Jul 16, 2012 5:53pm Jul 16, 2012 5:53pm
  •  mnmnmmnnmnmn
  • | Joined Jul 2012 | Status: Edmonton Alberta Canada | 530 Posts
Quoting FXNewbie1
Disliked
Hi all,

I'm a Canadian and not sure which of the two I should get an account with.
One issue are the margin rules. oanda corp has up to 50:1 (2%)
http://fxtrade.oanda.com/help/policies/margin-rules

but oanda canada provides lower margin, the lowest (only available on a few of the majors) is 3%
http://fxtrade.oanda.ca/help/policie...n-requirements

This is the major difference I can find between the two. Oanda Canada comes with lower margin, but a different regulatory agency and also convenience with depositing/withdrawing...
Ignored

Hello there,

For USD account, XAUUSD margin is like 5:1. that's a little too low i guess. I have been with FSCM UK for quite a while using 100:1 trading gold. This 5:1 seems like a joke. So I talked to this agent online, he told me that's the new Canadian regulation and all the brokers throughout Canada have to follow that! ... ...
Whatever is happening right now has happened before and will happen again.
 
 
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