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  • First Post: Jan 6, 2008 3:48pm Jan 6, 2008 3:48pm
Hi,

Could someone who has traded at oanda for a while give me a pointer as to when their spreads go back no normal after weekend ?

Many thanks.
4 more hours !!!
Oanda spreads go back to normal @ 8pm EST
Thanks !
I just realized Oanda is paying interest on account balances

Not just carry trades, but if you have money in your account, it
earns interest too.... sweet...
That's why I keep all my extra money in there... in a sub account that I don't touch... !! Makes more there than in a checking account somewhere and more than most savings accounts too... !!

Quoting ChesterB
I just realized Oanda is paying interest on account balances

Not just carry trades, but if you have money in your account, it
earns interest too.... sweet...
Hmmm, too bad it's not FDIC insured.

What's the current rate? How is it determined?
4.5% is the current rate... They basically average how muchis in your account on a second by second basis...So if youhave $10,000 in the morning for 12 hours and $12000 in the afternoonfor 12 hours, that days interest would be on $11,000
I don't know the rate !!! Sorry... but on a 2K account... it is about $1 a day... far better than my bank would offer... and also I think FDIC is only insuring a certain amount per dollar.... not 100%... I may be wrong though...

Quoting opie999
Hmmm, too bad it's not FDIC insured.

What's the current rate? How is it determined?
Looks like my account is on a fraction over 5.5% (GBP account) I have only just opened it and am not familiar with it yet, just wanted to move my spread betting money somewhere else. The interest is a nice bonus !
does interest will given during weekend as well?
Quoting Tiki Trader
I don't know the rate !!! Sorry... but on a 2K account... it is about $1 a day... far better than my bank would offer... and also I think FDIC is only insuring a certain amount per dollar.... not 100%... I may be wrong though...
And lose all profit because spread was widen to 30 pips and you didn't expect this. lol. Had bad experience with them.
It is private opinion.
Quoting amenlo9
does interest will given during weekend as well?
Yes.
Hmm... I've been keeping liquid money in paypals money market at something like 4.6%. It could be advantageous to have it already at the broker.
The basis of a democratic state is liberty. ~ Aristotle
Tiki,

I'm looking for information not trying to be negative or contrary. Are you sure you're getting $1 a day on a $2000 account balance? Unless my math is wrong that's above 18%. I would assume that the demo account gets the same "interest" as a live account and my demo account of $1000 gets about $0.14 a day which (again trusting the math) is around 4%. Is my math wrong? I know that you can easily get $1 a day interest with a positive swap, but if I can get that on my account balance with Oanda it would be great!

Quoting Tiki Trader
I don't know the rate !!! Sorry... but on a 2K account... it is about $1 a day... far better than my bank would offer... and also I think FDIC is only insuring a certain amount per dollar.... not 100%... I may be wrong though...
Quoting opie999
Hmmm, too bad it's not FDIC insured.

What's the current rate? How is it determined?
4.15% is the rate right now.

http://www.oanda.com/products/fxmath/interest.shtml
on 2K the interest is about 23 cents a day.... hope his helps..
open a demo account and test it......
Same Whore .... Different Dress
somebody can post the formula of interest calculation?

is it = Account Amount x Interest % / 365 Days
Quoting amenlo9
somebody can post the formula of interest calculation?

is it = Account Amount x Interest % / 365 Days
yes
Quoting amenlo9
somebody can post the formula of interest calculation?

is it = Account Amount x Interest % / 365 Days
This is an excellent calculator to calculate your daily interest rate:

http://www.csgnetwork.com/simplesavi...lyintcalc.html
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