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Oanda spreads go back to normal @ _____ GMT

  • #1
  • First Post: Jan 6, 2008 12:48pm Jan 6, 2008 12:48pm
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.
  • #2
  • Jan 6, 2008 12:49pm Jan 6, 2008 12:49pm
4 more hours !!!
  • #3
  • Jan 6, 2008 12:49pm Jan 6, 2008 12:49pm
Oanda spreads go back to normal @ 8pm EST
  • #4
  • Jan 6, 2008 12:51pm Jan 6, 2008 12:51pm
Thanks !
  • #5
  • Jan 6, 2008 2:03pm Jan 6, 2008 2:03pm
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...
  • #6
  • Jan 6, 2008 2:53pm Jan 6, 2008 2:53pm
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...
  • #7
  • Jan 6, 2008 9:03pm Jan 6, 2008 9:03pm
Hmmm, too bad it's not FDIC insured.

What's the current rate? How is it determined?
  • #8
  • Jan 6, 2008 9:06pm Jan 6, 2008 9:06pm
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
  • #9
  • Jan 6, 2008 9:08pm Jan 6, 2008 9:08pm
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?
  • #10
  • Jan 7, 2008 3:19am Jan 7, 2008 3:19am
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 !
  • #11
  • Jan 7, 2008 3:35am Jan 7, 2008 3:35am
does interest will given during weekend as well?
  • #12
  • Jan 7, 2008 4:58am Jan 7, 2008 4:58am
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.
  • #13
  • Jan 7, 2008 5:16am Jan 7, 2008 5:16am
Quoting amenlo9
does interest will given during weekend as well?
Yes.
  • #14
  • Jan 7, 2008 5:46am Jan 7, 2008 5:46am
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
  • #15
  • Jan 7, 2008 9:41am Jan 7, 2008 9:41am
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...
  • #16
  • Jan 7, 2008 10:31am Jan 7, 2008 10:31am
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
  • #17
  • Jan 7, 2008 11:37pm Jan 7, 2008 11:37pm
on 2K the interest is about 23 cents a day.... hope his helps..
open a demo account and test it......
Same Whore .... Different Dress
  • #18
  • Jan 7, 2008 11:50pm Jan 7, 2008 11:50pm
somebody can post the formula of interest calculation?

is it = Account Amount x Interest % / 365 Days
  • #19
  • Jan 8, 2008 1:35am Jan 8, 2008 1:35am
Quoting amenlo9
somebody can post the formula of interest calculation?

is it = Account Amount x Interest % / 365 Days
yes
  • #20
  • Jan 8, 2008 1:35am Jan 8, 2008 1:35am
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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