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Which MM or ECN brokers can beat Oanda Spread?

  • #121
  • Apr 23, 2010 1:32pm Apr 23, 2010 1:32pm
Quoting wael117
I trade with a couple of brokers, although i would strongly recommend FXCBS. I know some people may oppose me here, but after trying most of the brokers and working for many of them.. i think this is it!!
In an attempt not to sound like a complete shill (and your 13 post count is certainly not helping) would you care provide reasons why that bucketshop is better than the established, regulated ECNs?
  • #122
  • Apr 23, 2010 11:12pm Apr 23, 2010 11:12pm
ATC Brokers. Tightest spreads. End of conversation.
Cap
  • #123
  • Apr 24, 2010 1:22am Apr 24, 2010 1:22am
Quoting qwertymyfx
fxopen have low spreads, AND they're an ECN.

Seriously, give em a shot.
bucketshop
  • #124
  • Apr 24, 2010 2:41am Apr 24, 2010 2:41am
Quoting qwertymyfx
fxopen have low spreads, AND they're an ECN.

Seriously, give em a shot.
http://www.natuurinformatie.nl/sites...%20morgana.jpg
  • #125
  • Apr 24, 2010 10:45am Apr 24, 2010 10:45am
Quoting Cocoflanel
Brother,

Let me correct you :

2.95 * 2(in and out) * 1.35(present value of EUR/USD) = 0.79 pips commission + 0.9 = 1.69 pips effective spread .....almost DOUBLE of Oanda..
Is the 1.35 factor correct? I pay $6 USD per RT trading GBPUSD with JadeFX. My cost to buy or sell 100,000 GBP in USD is $6. On the counter side I'm closer to 150,000 USD. Could be wrong, but I'm thinking that the RT commission for standard lot of GBPUSD is in effect 10/15 * $6 per $100,000 USD worth of GBP.

No?
  • #126
  • Apr 24, 2010 11:51am Apr 24, 2010 11:51am
Quoting tbuitendyk
Is the 1.35 factor correct? I pay $6 USD per RT trading GBPUSD with JadeFX. My cost to buy or sell 100,000 GBP in USD is $6. On the counter side I'm closer to 150,000 USD. Could be wrong, but I'm thinking that the RT commission for standard lot of GBPUSD is in effect 10/15 * $6 per $100,000 USD worth of GBP.

No?
The typical G/U spread according to JadeFX website is 1.9 while I usually have 1.2 with Oanda. What's more, you have a $6 per round lot traded.
And your leverage is 1:100 while Oanda is 1:50.
That means that you pay a larger spread, a commission and these are doubled compared to Oanda because the leverage is doubled.

Of course, they are certainly other advantages but I'm very cost-conscious because I'm afraid of anything who'll needlessly impact my ROI.

That being said, I'm not really an Oanda fan, I stumbled upon this broker after 6 others and while I opened my account in 2007 I didn't start trading it until mid 2009. The lower leverage looked repulsive to me back then but I realize that it's a safety and any broker offering more is counting on your failure.
  • #127
  • Apr 24, 2010 12:23pm Apr 24, 2010 12:23pm
Quoting bmp
Not slipped. My orders just aren't getting filled because of the spread. For example, let's say I'm waiting for the price to drop to 1.3400 and then go long. Very often the price will go down as far as 1.3393 and my order is still not triggered. Similar problems on take profits. This has happened to me several times in the last month.
Here's a thought... I've experienced execution issues on limit orders when close to the herd on trigger points, so when trading like that I might sacrifice a pip or two to get my fill.

For example, if you and the rest of the world want to go long at 1.3400, you might be at the end of the queue at your broker and execution of your order might be missed in the time it takes to hit your price and bounce back up. What I would do to try to resolve this problem is simply put my entry buy order at 1.3401. Spending a pip to jump the queue is worth it if your trade is good and it means the difference between getting in or not.

Admittedly it's a simplistic approach but I've used it to successfully get my exits in the past when trading with the herd.
  • #128
  • Apr 24, 2010 1:52pm Apr 24, 2010 1:52pm
Quoting The Captain
ATC Brokers. Tightest spreads. End of conversation.
Full disclosure, ATC is an independant introducing broker for FXCM UK:

Quote
The FCM is the custodian of the account, they hold on to the client’s funds and providing execution. We have connected our technology to FXCM UK division, we will also be adding liquidity providers in the near future.

Don't really know if people care (or already knew), just thought I'd point it out.

Edit: the board put "Scam" in the email quote I pasted??? I manually removed it...
Hindsight is 20/20
  • #129
  • Apr 25, 2010 12:00pm Apr 25, 2010 12:00pm
Quoting Intensity
The typical G/U spread according to JadeFX website is 1.9 while I usually have 1.2 with Oanda. What's more, you have a $6 per round lot traded.
And your leverage is 1:100 while Oanda is 1:50.
That means that you pay a larger spread, a commission and these are doubled compared to Oanda because the leverage is doubled.

Of course, they are certainly other advantages but I'm very cost-conscious because I'm afraid of anything who'll needlessly impact my ROI.

That being said, I'm not really an Oanda fan, I stumbled upon this broker after 6 others...
Three points, in no particular order:

1. My post was about the application of a 1.35 cost factor to EurUsd positions, increasing the transaction cost in the formula that was demonstrated. This is what seems incorrect to me.

2. As others have pointed out, retail brokerages that are trading against their clientèle can easily enough create the illusion of tighter spreads by raising the cost on the herd's entry side (that is, where most of their client transactions are occurring) and then again on the herd's exit side later. Looking at for example the SSI on DailyFX (FXCM's retail sentiment index) it is clear that the retail brokers maintain this data in real time and could easily manipulate entry and exit costs while maintaining the illusion of tight spreads. Personally I don't have evidence for this behaviour but I would certainly not put it past them.

3. I don't understand why you think that 1:100 leverage doubles transaction costs as compared to 1:50 leverage. It's possible I'm missing something here but it seems to me that the per lot costing is independent of the leverage used. Perhaps you can explain that...?
  • #130
  • Apr 25, 2010 12:04pm Apr 25, 2010 12:04pm
Oanda typically has 1.9 for GBP/USD.
  • #131
  • Apr 25, 2010 1:50pm Apr 25, 2010 1:50pm
Quoting shrike
Oanda typically has 1.9 for GBP/USD.
Just to throw it out here. I use Dukascopy and I traded the USDJPY with no srpead (zero (0)) and the GBP/USD with at 1 pip spread last Friday.

JD
It's Easy To Get In;.. It's Hard To Get Out
  • #132
  • Apr 26, 2010 6:09am Apr 26, 2010 6:09am
Quoting John D
Just to throw it out here. I use Dukascopy and I traded the USDJPY with no srpead (zero (0)) and the GBP/USD with at 1 pip spread last Friday.

JD

How is the MT4 from Ducascopy ? On website they say is something like new plataform !
  • #133
  • Apr 26, 2010 8:26am Apr 26, 2010 8:26am
Oanda has 1.6pips spread for GBPUSD and 2.2pips spread for GBPJPY at 1300GMT today! First time!
  • #134
  • Apr 26, 2010 9:26am Apr 26, 2010 9:26am
Quoting ForexQuant
Oanda has 1.6pips spread for GBPUSD and 2.2pips spread for GBPJPY at 1300GMT today! First time!
I've noticed their spreads have been dropping. I only trade the E/U but do recall that the G/U was 2.5 not that long ago.

Good stuff!
  • #135
  • Apr 26, 2010 9:35am Apr 26, 2010 9:35am
Quoting forexlion
bucketshop
hehehe, what nonsense.

you actually don't acknowledge fxopen is an ECN?

you need to open ur eyes.
  • #136
  • Apr 27, 2010 6:50am Apr 27, 2010 6:50am
Quoting shrike
Go to the NFA website and read the Advanced Markets record. Then click on Brocco (one of their principals) and click through all firms he was registered with and read the case documentations. Then do the same for Mr. Gooch (another AM principal).

Then decide if you still want to go with them.
Wow. All of the fines add up to a small fortune! Gooch's COMMODITY INVESTMENT GROUP (NFA ID: 0307484) alone had one for $7M...
Hindsight is 20/20
  • #137
  • Apr 27, 2010 11:35am Apr 27, 2010 11:35am
Quoting Acic
How is the MT4 from Ducascopy ? On website they say is something like new plataform !
The Dukascopy MT4 platform is still in the beta (test) stage. I wouldn't even bother with it until the full blown "live" version is released.

Trade to trade well!
JD
It's Easy To Get In;.. It's Hard To Get Out
  • #138
  • Aug 18, 2010 4:25am Aug 18, 2010 4:25am
What's wrong with oanda today? EURGBP having 10 pips spread now while 2.2pips & 1.7pips for GBPJPY & GBPUSD! This is no news release at the moment!
Attached Image
  • #139
  • Aug 18, 2010 4:54am Aug 18, 2010 4:54am
www.fxcentral.net

I see they have much better ECN spread when compared with many other raw, naked ECN claims out right there.
  • #140
  • Aug 18, 2010 1:56pm Aug 18, 2010 1:56pm
Quoting amarfx
www.fxcentral.net

I see they have much better ECN spread when compared with many other raw, naked ECN claims out right there.
Yes and other ECNs show MARKET DEPTH, where's yours? Oh right, you're just an unregistered white-label pretending to be an ECN..

Keep on shilling..

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