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Should I open with Alpari US or Oanda?

  • Post #1
  • Quote
  • First Post: Sep 19, 2008 6:26pm Sep 19, 2008 6:26pm
I'm looking to open a small account somewhere between $200-$500. I want to do this so I'm trading with live money instead of a demo because I've heard trading live is completely different even if you're trading for small amounts, which I will be doing.

I've narrowed down my choices to Oanda and Alpari US. I've looked on FF and seen good and bad things about both brokers so I'm not sure who to choose. I like MT4 and Alpari has pretty good spreads but there aren't many reviews on FF about them. Oanda has been pretty good on demo but their spreads have widened recently and apparently will stay that way for a while, plus I don't like their charting system at all.

So I'm wondering if anyone out there has used either of these brokers and if so which the prefer and why and which you think I should choose.

Thanks in advance to everyone for helping me out.
Stay away from Oanda my friend!!!

I don't know about other brokers out there but Oanda is a NO, NO, for sure. They will rip you off, and I'm telling it from experience.

Cheers
For he that would be deceived, let him.
Quoting trublu
I'm looking to open a small account somewhere between $200-$500. I want to do this so I'm trading with live money instead of a demo because I've heard trading live is completely different even if you're trading for small amounts, which I will be doing.

I've narrowed down my choices to Oanda and Alpari US. I've looked on FF and seen good and bad things about both brokers so I'm not sure who to choose. I like MT4 and Alpari has pretty good spreads but there aren't many reviews on FF about them. Oanda has been pretty good on demo but their spreads have widened recently and apparently will stay that way for a while, plus I don't like their charting system at all.

So I'm wondering if anyone out there has used either of these brokers and if so which the prefer and why and which you think I should choose.

Thanks in advance to everyone for helping me out.
Oanda is just a hundred times bigger and at least ten years more on the market. Alpari has been established about two ears ago. This is a reason why so you can sen not many reviews on them.

You can also try IBFX, they have MT4 too and they much longer in the business.

Good luck!
Try wewantyoutolose.com dealing desk brokerage services.
Quoting lavatrader
Oanda is just a hundred times bigger and at least ten years more on the market. Alpari has been established about two ears ago. This is a reason why so you can sen not many reviews on them.

You can also try IBFX, they have MT4 too and they much longer in the business.

Good luck!
I was reading in the Proposed NFA Capital Requirement thread that the requirement will soon be up to $20mil and Alpari is only at about $13 mil but IBFX is up at $33 mil and Oanda way up there with $164 mil.

So do you think it's smarter to just go with IBFX since they are over $20 mil and they are MT4. Their spreads are just a little worse than Alpari, not that big of deal. Also on the preferred broker page it says they are regulated by NFA and CFTC and Alpari is only regulated by NFA, don't really know what that means but I guess more regulation is better.

I guess I'll have to start looking for reviews for IBFX and some other larger brokers.

Thanks for your replies
I would go with Oanda. I trade with both and like Oanda much better.
Founder of Day Trading Forex Live
I use oanda, there is disconnections sometimes etc, but overall I like them, generally low spread and fast execution, I'd say they are one of the best bucket shops available.
Been with Oanda nearly 4 years, they have been good to me.... a few disconects but which FX broker doesn't.
No problems with trading or deposits and withdrawls.
Same Whore .... Different Dress
Do any of you guys use another broker for charting. If I use Oanda I'd use a demo MT4 account for my charting. I've done this a little on demo and it seems to work out alright, it's just easier to trade of the same charts instead of switching to Oanda's platform. Plus Oanda doesn't have trailing stops which I like to use if I'm away from my computer.

Does anyone currently do this to trade? If so, how's it been working out for you? Are the prices that different from one broker to another?

Thanks again.
im doing that for a long time now, with FXCM (i hate their charting app) then a metatrader demo account for charting....

Quoting trublu
Do any of you guys use another broker for charting. If I use Oanda I'd use a demo MT4 account for my charting. I've done this a little on demo and it seems to work out alright, it's just easier to trade of the same charts instead of switching to Oanda's platform. Plus Oanda doesn't have trailing stops which I like to use if I'm away from my computer.

Does anyone currently do this to trade? If so, how's it been working out for you? Are the prices that different from one broker to another?

Thanks again.
  • Post #11
  • Quote
  • Last Post: Sep 21, 2008 10:25pm Sep 21, 2008 10:25pm
Oanda will not have to spend much money managing your account..they are set up to do that.

I know a little bit about the FX market and markets in general. I am very happy that some FX brokers out there found a way to make money from clients who fund in the three digit range. Just dont expect any customer service. Dont take that personally, it would just not make any business sense to dedicate any time to your account.

I am also very happy none of my platform providers allow customers to fund with anything less than 5 figures. I want my account rep managing as few clients as possible, realistically that means we all need to be making their company money.

It seems alot of people on this forum are so worried about pip spreads. Me, I rather pay a bit more to do business to know I am dealing with companies who make money off of me and others becasue of the volume, not nickel and diming clients, or hunting stops, and are available for me if I need them to do such things as place a phone order if my interent happen to goes down.

I may sound conceited but try JP Morgan Private Wealth Management. You need 25,000,000 to talk to them...but they will really take you if you have more than 5,000,000..they just wont admit it in public...
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