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  • #5,201
  • Feb 17, 2018 9:11pm Feb 17, 2018 9:11pm
Quoting Expo33
{quote} And that's my main concern. I'd rather keep my trading capital with Oanda and keep the reserves in an FDIC insured US bank account.
Well I too would like to get the leverage benefit from a non-US broker, as it is a severe disadvantage as an American trying to compete in a global market.. So Oanda, while trustworthy is just not an option, because of the leverage restrictions that gives them an 8-1 or greater advantage..
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #5,202
  • Edited 11:37am Feb 18, 2018 12:26am | Edited 11:37am
Quoting england33
{quote} Well I too would like to get the leverage benefit from a non-US broker, as it is a severe disadvantage as an American trying to compete in a global market.. So Oanda, while trustworthy is just not an option, because of the leverage restrictions that gives them an 8-1 or greater advantage..
For me, I don't see leverage as a problem. 50:1 is more than I will ever need to consistently extract money from the market.

I'm not seeing the connection. How does Oanda have more of an advantage over me than a broker that offers 250:1 leverage? I would be executing the same trades. The fact that I need 5 times more capital to do so doesn't negate my trading edge or winning percentage. It's true, more of my money will be tied up sitting in one of Oanda's accounts but as long a I am properly capitalized it doesn't really matter to me.
Pride always comes before destruction.... -Proverbs 16:18
  • #5,203
  • Feb 18, 2018 9:31am Feb 18, 2018 9:31am
Quoting Expo33
{quote} For me, I don't see leverage as a problem. 50:1 is more than I will ever need to consistently extract money from the market. I'm not seeing the connection. How does Oanda have more of an advantage over me than a broker that offers 250:1 leverage? I would be executing the same trades. The fact that I need 5 times more capital to do so doesn't negate my trading edge or winning percentage. It's true, more of my money will be tied up sitting in one of Oanda's segregated accounts but as long a I am properly capitalized it doesn't really matter...
Oanda doesn't offer segregated accounts. The CFTC prohibits US brokers from protecting your funds in any way. If oanda, while unlikely, goes belly up, you get nothing. This is why there is ABSOLUTELY NO ADVANTAGE trading with a US broker. You actually have more at risk due to the ridiculous margin requirement.
  • #5,204
  • Edited 12:15pm Feb 18, 2018 11:50am | Edited 12:15pm
Quoting pipmaster77
{quote} Oanda doesn't offer segregated accounts. The CFTC prohibits US brokers from protecting your funds in any way. If oanda, while unlikely, goes belly up, you get nothing. This is why there is ABSOLUTELY NO ADVANTAGE trading with a US broker. You actually have more at risk due to the ridiculous margin requirement.
Yes I mis-spoke I meant sitting in their bank accounts. I'd still rather have my money with them. I guess for trader's that are under capitalized, the offshore option seems like a good one. I'm at the point in my life and trading career where the amount off capital I have "exposed" with Oanda wouldn't affect my life or my future if they went belly up. Either way, I still like having my money being held by a company that is rock solid financially and have been basically squeaky clean for 20 years. In addition, there is something comforting knowing I can get in my car and drive to their office if I felt the need.

I've tried Fxchoice, Lmfx, Traders way, etc. I remember needing to talk to someone about my deposit and a guy (sounded like a kid sitting in a closet) answered and said please log into the back office and make your request there. So I did and reqested my money be withdrawn. In any event, if something goes wrong over seas, who ya gonna call? Ghostbusters? Either way, your money is only as safe as the financial health or honesty of that company.

Another thing for me is ease of use. There's no need for me to try and fix something that isn't broken.
Pride always comes before destruction.... -Proverbs 16:18
  • #5,205
  • Feb 18, 2018 3:27pm Feb 18, 2018 3:27pm
Quoting Expo33
{quote} Yes I mis-spoke I meant sitting in their bank accounts. I'd still rather have my money with them. I guess for trader's that are under capitalized, the offshore option seems like a good one. I'm at the point in my life and trading career where the amount off capital I have "exposed" with Oanda wouldn't affect my life or my future if they went belly up. Either way, I still like having my money being held by a company that is rock solid financially and have been basically squeaky clean for 20 years. In addition, there is something comforting...
I guess my opinion is simply if the money isn't protected either way, have the least amount exposed as possible. For me, it's not specifically about the leverage or the hedging or FIFO. If there was an actual ECN broker with tight spreads and low commission like I get offshore and MY MONEY WAS ACTUALLY INSURED in some way, I'd be trading in US as well. MB Trading was the last ECN broker available, but my best experience in US was with FXDD, only when they had the Dukascopy JForex feed for like a year. True ECN, extremely tight spreads. Which is another thing I can't grasp, Dukas is a true ECN, with 100,00 CHF insurance on your funds. If the CFTC is so concerned about protecting us, wouldn't Dukascopy be a great option for us to be allowed to trade with?
  • #5,206
  • Feb 28, 2018 11:58am Feb 28, 2018 11:58am
Quoting pipmaster77
{quote} I guess my opinion is simply if the money isn't protected either way, have the least amount exposed as possible. For me, it's not specifically about the leverage or the hedging or FIFO. If there was an actual ECN broker with tight spreads and low commission like I get offshore and MY MONEY WAS ACTUALLY INSURED in some way, I'd be trading in US as well. MB Trading was the last ECN broker available, but my best experience in US was with FXDD, only when they had the Dukascopy JForex feed for like a year. True ECN, extremely tight spreads. Which...
How do you know for sure a broker - any broker, yours included, whatever that is - is actually an ECN one?
  • #5,207
  • Feb 28, 2018 7:14pm Feb 28, 2018 7:14pm
Quoting xy76
{quote} How do you know for sure a broker - any broker, yours included, whatever that is - is actually an ECN one?
Well, if they are a market maker, they must disclose they are holding the other side. Now this is often very cleverly disguised in the fine print (think OANDA). In general, spreads are often much, much thinner as you are paying a commission instead of a spread mark up. However, the absolute tell tale sign is when i watch price go within .01 of my stops numerous times and NOT GET HIT. Trading with a market maker is like betting with a bookie or playing roulette or black jack where they control the outcome. I mean, seriously, when you are with a market maker, they win when you lose and they CONTROL THE SOFTWARE. It's an absolute invitation to legally just take your money. It's absolutely absurd.
  • #5,208
  • Mar 2, 2018 6:48am Mar 2, 2018 6:48am
Quoting pipmaster77
{quote} Well, if they are a market maker, they must disclose they are holding the other side. Now this is often very cleverly disguised in the fine print (think OANDA). In general, spreads are often much, much thinner as you are paying a commission instead of a spread mark up. However, the absolute tell tale sign is when i watch price go within .01 of my stops numerous times and NOT GET HIT. Trading with a market maker is like betting with a bookie or playing roulette or black jack where they control the outcome. I mean, seriously, when you are...
I've been with Oanda for years and on the whole, it is me taking their money, not the other way around. They have their issues, but they play fair.

Still, you have dodged my question. How do you know for sure that ECN brokers stick to their own marketing BS and are truly ECN? Because if you read the fine print of, say, Dukascopy, it still says that you are actually trading with them - the broker - not with other traders.
  • #5,209
  • Mar 4, 2018 1:29am Mar 4, 2018 1:29am
In reality the best you can have is a broker that is mostly ECN, but you will not find something that is 100% ECN no? The broker will at some point take a side in trades -or that is what I understand; so correct me if I am wrong
  • #5,210
  • Mar 4, 2018 10:05am Mar 4, 2018 10:05am
Is fxTrade a memory hog? I recently started using it on my MacBook and I would leave it open forever. It seems to slow down over time and become incredibly laggy that would require me restarting the app. Very annoying especially if I need to close trades in a hurry.
  • #5,211
  • Mar 22, 2018 8:05am Mar 22, 2018 8:05am
Quoting Mushroom
{quote} Me too...Oanda? FF people? Help?
It started to work for me. You should try to retry also.
  • #5,212
  • Mar 27, 2018 12:09pm Mar 27, 2018 12:09pm
Wonder Oanda`reaction to this:

https://www.esma.europa.eu/press-new...tail-investors
  • #5,213
  • Mar 29, 2018 8:34pm Mar 29, 2018 8:34pm
Quoting jhehe
Is fxTrade a memory hog? I recently started using it on my MacBook and I would leave it open forever. It seems to slow down over time and become incredibly laggy that would require me restarting the app. Very annoying especially if I need to close trades in a hurry.
On my Windows 10 PC the memory it takes is roughly 120 MB, depending on your system that could be a lot or a little.
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Be humble or get humbled
  • #5,214
  • Apr 20, 2018 10:45pm Apr 20, 2018 10:45pm
Curious as to why there's never an explanation to their "critical updates". Is it me or do these updates on their desktop platform always come out at confluent times in the markets?.......
  • #5,215
  • Apr 21, 2018 4:12pm Apr 21, 2018 4:12pm
Quoting jhehe
Is fxTrade a memory hog? I recently started using it on my MacBook and I would leave it open forever. It seems to slow down over time and become incredibly laggy that would require me restarting the app. Very annoying especially if I need to close trades in a hurry.
I have found that the FX Trade iPhone app makes extreme use of activity and data. At night if the app is on in the back ground it will take about 50% of my battery life while I am sleeping. If the app is closed out my iPhone battery only loses about 10% of it battery life while I sleep.
  • #5,216
  • Apr 23, 2018 8:36pm Apr 23, 2018 8:36pm
guys n gals,

need some help here on Oanda Mt4.

Does the Oanda MT4 honor our pending/limit order (with Take profit & stop loss) while our MT4 is offline?

Or do i need a VPS to ensure the pending/limit order got trigger?

Was demo-ing their MT4 practice, the pending/limit orders triggered whenever i log on my MT4 demo account.
Seems too good to be true?
  • #5,217
  • Apr 23, 2018 9:25pm Apr 23, 2018 9:25pm
Quoting Effax-square
guys n gals, need some help here on Oanda Mt4. Does the Oanda MT4 honor our pending/limit order (with Take profit & stop loss) while our MT4 is offline? Or do i need a VPS to ensure the pending/limit order got trigger? Was demo-ing their MT4 practice, the pending/limit orders triggered whenever i log on my MT4 demo account. Seems too good to be true?
Yes, assuming the limit order is placed with the broker and not with an EA. Your order will execute while offline.
  • #5,218
  • Apr 23, 2018 11:14pm Apr 23, 2018 11:14pm
Quoting Pipfu
{quote} Yes, assuming the limit order is placed with the broker and not with an EA. Your order will execute while offline.
hi pipfu,

thanks.

so if i use EA to place pending order, it will never get executed?
if my EA placed pending order already before i shut down, will it trigger?

thanks.
  • #5,219
  • Apr 23, 2018 11:42pm Apr 23, 2018 11:42pm
Quoting Effax-square
{quote} hi pipfu, thanks. so if i use EA to place pending order, it will never get executed? if my EA placed pending order already before i shut down, will it trigger? thanks.
Depends on whether your EA actually places pending orders with them or executes them as market orders within the EA. I use a virtual trade panel EA which keeps a pending order to itself and executes it when the price hits it. In my case, I need to keep my terminal running to manage the trade. To verify your pending order with the broker (before you shut down), check the trade tab in your plarform terminal. View > terminal > click the trades tab> If your pending order is listed there, it will execute...
  • #5,220
  • Apr 24, 2018 3:32am Apr 24, 2018 3:32am
Quoting Pipfu
{quote} Depends on whether your EA actually places pending orders with them or executes them as market orders within the EA. I use a virtual trade panel EA which keeps a pending order to itself and executes it when the price hits it. In my case, I need to keep my terminal running to manage the trade. To verify your pending order with the broker (before you shut down), check the trade tab in your plarform terminal. View > terminal > click the trades tab> If your pending order is listed there, it will execute...
Hi Pipfu,

Yep, there is a list of pending orders below the Trade Tab floating P&L.
Cool.
But this is just oanda mt4 practice.
I hope the real oanda mt4 works as well.

Thanks again.
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