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Is Oanda OK for scalpers?

  • #21
  • Jan 4, 2010 2:47am Jan 4, 2010 2:47am
Hey guys, what is the deal with those API fees?

Can you NOT use stop losses and take profits unless you pay the API fees?

Thank you,

Donnie
  • #22
  • Jan 4, 2010 11:46am Jan 4, 2010 11:46am
Quoting TC East
If you mean Oanda, I'm not sure as I haven't traded live with them. But your typical ECN will have spread increases maybe 5-10 seconds before and after news. That's typical, but there's no hard and fast rule on that either...
Yes, TC East, the question was about Oanda, thank you for the answer. I want to open an live account and is hard for me to choose the right broker.
  • #23
  • Jan 4, 2010 1:10pm Jan 4, 2010 1:10pm
Quoting arrillu
Yes, TC East, the question was about Oanda, thank you for the answer. I want to open an live account and is hard for me to choose the right broker.
u can open FXGAME demo account with Oanda and u will c by yourself ...
  • #24
  • Jan 4, 2010 1:44pm Jan 4, 2010 1:44pm
I trade with oanda and they are pretty decent. I really like there trading platform also. 0.9 spread most of the time for Euro/USD too = cool for scalping.
  • #25
  • Jan 5, 2010 5:51am Jan 5, 2010 5:51am
Yes.
  • #26
  • Jan 5, 2010 5:52am Jan 5, 2010 5:52am
The question is, are You OK for scalping?
  • #27
  • Jan 5, 2010 11:30am Jan 5, 2010 11:30am
How do i set the lot size and make it default on the Oanda platform. Or do i have to pre set it before every trade?

Thx in advance
Never Ever Give Up!
  • #28
  • Jan 5, 2010 11:55am Jan 5, 2010 11:55am
Quoting Cobra
How do i set the lot size and make it default on the Oanda platform. Or do i have to pre set it before every trade?

Thx in advance
Tools>user pref>trading
  • #29
  • Jan 5, 2010 1:49pm Jan 5, 2010 1:49pm
Quoting tar
Tools>user pref>trading
I'm not logged into my trading platform right this second, but that sounds right.
  • #30
  • Jan 5, 2010 5:36pm Jan 5, 2010 5:36pm
I dun think oanda good for scalping.
  • #31
  • Jan 22, 2010 3:40am Jan 22, 2010 3:40am
I can't open www.oanda.com and platform doesn't work (load). Do you have the same problem?

P.s. Yes, Oanda is good for scalping. Indicators work good.
  • #32
  • Jan 22, 2010 4:34am Jan 22, 2010 4:34am
Quoting Fibo_trader
I can't open www.oanda.com and platform doesn't work (load). Do you have the same problem?

P.s. Yes, Oanda is good for scalping. Indicators work good.

For me it's all ok....
  • #33
  • Jan 24, 2010 6:35am Jan 24, 2010 6:35am
Can I avoid the new leverage rule by opening the account at Oanda Singapur (Asia/Pacific)? Or the new leverage will be valid for all Oanda divisions?
Does somebody have an account at Oanda Singapur? Is it the same as in Oanda? Because I read mainly positive reviews for this broker...would like to know if it is true also for Oanda Singapur....
  • #34
  • Jan 28, 2010 8:55am Jan 28, 2010 8:55am
Quoting TC East
FYI, their name isn't "O and A"; the name doesn't mean anything actually...

http://www.oanda.com/corp/story/name
True, Oanda does not "mean" anything - but it is derivative - of Olsen and Associates:

http://www.olsen.ch/

Now, there are actually some interesting connections between "OandA" and Olsen and Associates, and the field of high frequency trading, and the original question of whether OandA provides a "good" environment for scalping.

Yes. But I will let you explore those for yourselves...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #35
  • Jan 28, 2010 9:19am Jan 28, 2010 9:19am
I have been using Oanda for last 3 months and have no issues and find thier spreads are tight and execution is immediately with no re-quote.
  • #36
  • Jan 28, 2010 11:38am Jan 28, 2010 11:38am
Just avoid the news. As someone far wiser than me explained, forex, and all markets deal with supply and demand. When supply outstrips demand, prices drop etc etc.

What happens during news time is that all the big players pull orders out of the market, so as a result the supply/demand flow goes topsy turvy as there is hardly anyone buying or selling. Brokers do widen their spreads, but they're a sign that the market has hardly any players, liquidity is extremely thin, so orders will be harder to fill, hence wide spreads.
And in these conditions, when a big order finally does come into the market, then the prices shoot off like a rocket as the supply/demand ratio is at it's most inbalanced. A bank suddenly buying $100 million in a currency in these conditions will set price off like a rocket as the demand will outstrip supply in a far greater fashion than under normal market conditions.
  • #37
  • Last Post: Feb 3, 2010 8:38am Feb 3, 2010 8:38am
Quoting petern
Can I avoid the new leverage rule by opening the account at Oanda Singapur (Asia/Pacific)? Or the new leverage will be valid for all Oanda divisions?
Does somebody have an account at Oanda Singapur? Is it the same as in Oanda? Because I read mainly positive reviews for this broker...would like to know if it is true also for Oanda Singapur....
Petern,


OANDA Asia Pacific Pte Ltd (OAP) is regulated by the Monetary Authority of Singapore and holds a Capital Markets Services licence. Under its licence, OAP is to require a minimum of 2% margin or a maximum leverage of 50:1 from its clients.
OANDA Asia Pacific maintained all clients' funds in segregated Trust accounts with Standard Chartered Bank in Singapore, separate from OANDA Asia Pacific’s own funds, and can only be withdrawn as a direct result of your trading-related activities or withdrawal requests. No withdrawals can be made from this account for any OANDA Asia Pacific operations.
For more information on regulatory compliance of OANDA Asia Pacific, do visit: http://www.oanda.sg/regulatory_compliance.shtml




Thank you.
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