What do you think of Gain Capital? Oanda? | Forex Factory

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What do you think of Gain Capital? Oanda?

  • #1
  • First Post: Dec 27, 2007 10:14pm Dec 27, 2007 10:14pm
So I use Ninjatrader with GainCapital because then Ninjatrader becomes free (instead of $999)

The execution is pretty good, but the platform shuts down for NEWS, and the spread is 3 for EURUSD, 4 for the rest, 5 for GBPUSD, 9 for GBPJPY.

I have to say I'm pretty happy with all this, but could I do better?

I know Oanda has pretty tight spreads - but I absolutely HATE their platform.

Honestly, how does Oanda make money then? What options do you guys think I have - I'd rather keep using Ninjatrader and I doubt it'll work with Oanda.


Ideally, I'd be using NT with lower spreads (fixed) (I don't trade NEWS). Any suggestions? Any 2 pips?

Thanks
  • #2
  • Dec 27, 2007 10:23pm Dec 27, 2007 10:23pm
Quoting Skyhr
So I use Ninjatrader with GainCapital because then Ninjatrader becomes free (instead of $999)

The execution is pretty good, but the platform shuts down for NEWS, and the spread is 3 for EURUSD, 4 for the rest, 5 for GBPUSD, 9 for GBPJPY.

I have to say I'm pretty happy with all this, but could I do better?

I know Oanda has pretty tight spreads - but I absolutely HATE their platform.

Honestly, how does Oanda make money then? What options do you guys think I have - I'd rather keep using Ninjatrader and I doubt it'll work with Oanda.


Ideally, I'd be using NT with lower spreads (fixed) (I don't trade NEWS). Any suggestions? Any 2 pips?

Thanks
I use oanda. It's true their platform is not the best, but when I trade it's about service and spreads. I can handle their java platform. I use MT4 to make my decison anyway so their charts or service doesn't matter to me. 0.9 on euro? i mean come on. And since you don't trade news, Oanda is one of the best.
  • #3
  • Dec 27, 2007 10:46pm Dec 27, 2007 10:46pm
I have an account with Gain but I don't trade with it much. I like the idea of free eSignal with Gain so I maintain an account for that reason. Most of my trades are executed with Oanda now.

Can you use Gain's fractional spreads with Ninjatrader? They're tighter than their fixed spreads. I 've never used them (Gain's fractional spreads) so I can't tell you how much they fluctuate.
  • #4
  • Dec 27, 2007 10:52pm Dec 27, 2007 10:52pm
A 3 pip spread on EUR/USD? Even IBFX is better than that!

As far as I'm concerned, anything over 1 pip fixed spread on E/U is unnecessary, but over 2 is a blatant ripoff.
  • #5
  • Dec 27, 2007 10:52pm Dec 27, 2007 10:52pm
If you are trading through gain, why aren't you using the MetaTrader 4 platform? Makes a bit more sense IMO... It rarely freezes, although sometimes during the news.

Also, if you use GAIN, there are ways to tighten the spreads by getting set up with a rebate program. JMHO!
  • #6
  • Dec 27, 2007 11:20pm Dec 27, 2007 11:20pm
Quoting Skyhr
The execution is pretty good, but the platform shuts down for NEWS, and the spread is 3 for EURUSD, 4 for the rest, 5 for GBPUSD, 9 for GBPJPY.
That's pretty abhorrent. 3 pips on EURUSD is highway robbery. $999/month savings would be an afterthought, I'd be handing that much over to them every few trades with that spread.

According to their site, NinjaTrader is free with a dozen different data providers (including Yahoo..?) I can't see the point in sticking with Gain just for Ninja if you can get it for free so easily.
  • #7
  • Dec 27, 2007 11:29pm Dec 27, 2007 11:29pm
Quoting BostonForex
If you are trading through gain, why aren't you using the MetaTrader 4 platform? Makes a bit more sense IMO... It rarely freezes, although sometimes during the news.

Also, if you use GAIN, there are ways to tighten the spreads by getting set up with a rebate program. JMHO!
I didn't know Gain offered MT4.
  • #8
  • Dec 28, 2007 12:41am Dec 28, 2007 12:41am
anything over 4 pips on gbp/usd is a rip off, i prefer 3 pips or less.
If I Go Broke Trying Then I Will die happy.
  • #9
  • Dec 28, 2007 8:07am Dec 28, 2007 8:07am
MT4 is more convinient for me. Depends on a trading style though...
GOLD IS WHERE YOU FIND IT
  • #10
  • Dec 28, 2007 10:02am Dec 28, 2007 10:02am
Quoting Moe
anything over 4 pips on gbp/usd is a rip off, i prefer 3 pips or less.
Definitely with you there, Moe.
  • #11
  • Dec 28, 2007 9:08pm Dec 28, 2007 9:08pm
Christ... are you guys serious... hahaha, wow. Man, have I been living on the other side of the looking glass!!!

Well, I guess that's good news then.

I know ODL and MIG's eurusd spread is 2 pips, which I think is normal (now anyways) but oanda is around 1.

I've heard some bad things about Oanda and some good things about them, too. For example, after doing well, Oanda may cancel your orders without notice, and liquidate profitable positions for no reason.

Gosh, I'm so confused now... haha, I don't know how to use the rebate gain program to tighten the spread. Also, using ninjatrader with gain doesn't allow the fractional spreads...


I'm really thinking now between ODL, Oanda, and maybe... maybe MIG. I've emailed them asking about the number of interbanks/large funds they deal with since the more they deal with = more liquidity and thus better prices, etc.


Also, I've heard on Oanda the price reflection is not as accurate on others and I've heard many other complaints... anyone care to elaborate/clarify?



And thanks for all those responses...
  • #12
  • Dec 29, 2007 3:27am Dec 29, 2007 3:27am
another cheater onada
Quote
Skyhr :

I've heard some bad things about Oanda and some good things about them, too. For example, after doing well, Oanda may cancel your orders without notice, and liquidate profitable positions for no reason.
Let's trade together.
  • #13
  • Dec 29, 2007 1:12pm Dec 29, 2007 1:12pm
Why don't you use one of the ECN brokers? Oanda doesn't even offer protection for you capital, and since they are market makers, with dealing desks, they can easily manipulate prices, trigger stop-losses and everything else. I really don't understand why would anyone trade with a market maker broker.
  • #14
  • Dec 29, 2007 3:05pm Dec 29, 2007 3:05pm
Quoting Treehugger
Why don't you use one of the ECN brokers? Oanda doesn't even offer protection for you capital, and since they are market makers, with dealing desks, they can easily manipulate prices, trigger stop-losses and everything else. I really don't understand why would anyone trade with a market maker broker.
because i make a lot of money with my market maker and still do. :
If I Go Broke Trying Then I Will die happy.
  • #15
  • Dec 29, 2007 3:35pm Dec 29, 2007 3:35pm
Well, that's the thing. I've heard they cancel your orders , blah blah blah, but then I know that slippage/requote and stop hunting are all natural - things I'm willing to work with. And since I'm guessing Oanda is liquid enough, they can't stop hunt all the time... or at least to my understanding.

Sorry but Moe, which dd do you use? And is it really true that Oanda frequently cancels and liquidates your orders?
  • #16
  • Dec 29, 2007 4:38pm Dec 29, 2007 4:38pm
Quoting Treehugger
Why don't you use one of the ECN brokers? Oanda doesn't even offer protection for you capital, and since they are market makers, with dealing desks, they can easily manipulate prices, trigger stop-losses and everything else. I really don't understand why would anyone trade with a market maker broker.
You're absolutely right.
Just compare spreads during news times and you see it clearly - price manipulation and trading is hold.

I would never trade with market maker or deal desk.
ForexFactory SUCKS.
  • #17
  • Dec 29, 2007 5:23pm Dec 29, 2007 5:23pm
Quoting Skyhr
Well, that's the thing. I've heard they cancel your orders , blah blah blah, but then I know that slippage/requote and stop hunting are all natural - things I'm willing to work with. And since I'm guessing Oanda is liquid enough, they can't stop hunt all the time... or at least to my understanding.

Sorry but Moe, which dd do you use? And is it really true that Oanda frequently cancels and liquidates your orders?
odl and interbankfx, my fav ecn is hotspotfxi
If I Go Broke Trying Then I Will die happy.
  • #18
  • Dec 30, 2007 4:03am Dec 30, 2007 4:03am
Quoting Moe
because i make a lot of money with my market maker and still do. :

Moe, I'm actually glad to hear that! All I want is some fairness from our brokers.
  • #19
  • Dec 30, 2007 4:05am Dec 30, 2007 4:05am
Quoting Moe
because i make a lot of money with my market maker and still do. :
If you make a lot of money with your market maker ,then youŽll make a loooooot of money with an ECN broker.
no dealing desks
no manipulate prices
no trigger stop-losses ..................................
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PRICE=BIDhttp://forum.clarence.com/images/smilies/boxing.gifASK
UFO
  • #20
  • Dec 30, 2007 4:05am Dec 30, 2007 4:05am
Quoting Moe
odl and interbankfx, my fav ecn is hotspotfxi

If I won't find any free and good charting software for FX, I too will open my account at Interbank FX. (they are a no dealing desk type of broker)
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