Oanda goes Metatrader

I was excited to see this in my email yesterday,
i think MT4 + Oanda will be an excellent combination, as for all the concerns about Oanda now advertising and now MT4, i think they will still operate by promoting their "fairness" philosophy, it's what sets them apart.
However i do wonder, now that they are advertising will it draw unprofitable noobs and make the number of Oanda accounts profitable (46% or 48%? if i remember right) and this is my biggest concern, as Oanda have been used to having this larger than normal client base of 'winners' what could happen if they start catering for 'losers'

anyway. i'll be using MT4

Vegas doesn't have a problem with losers. They build guilded castles for them to stay in while they lose their money. If more losers go to Oanda, they make more money. The winners will not leave because there's more losers. Matter of fact, when someone loses, another guy wins.

that's strange, i didn't receive this announcement yet. after all, i cannot say that i'm too keen on it though.

Is there available 5 second chart time frame?

Xaron,

have you experienced any difference with regards to speed of execution ?

FXtrade is lightning fast in that respect, I've never seen any MT4 broker come close it.

When you have some FX Trade Managed Accounts at Oanda, could you transfer these managed accounts to MT4 then?

Very interested in the answer to this too!

Yea, so far Oanda is fair and original broker i hope it will stay that way. I hope they will not use virtual dealer plugin.

So if we already have account with Oanda and if we want to trade through Metatrader we will have to open sub-account and transfer money there, right?

Yes.


Not yet. At the moment you can't link any existing accounts to MT4.


Do you see that timeframe in MT4?


Almost same speed. That's fun. No requotes.

This is GREAT news! I like MT4, however, I hope Oanda will incoperate the easy manoeuvring of stop losses and take profit limits with MT4 ( as with FX Trade).
Also, the sub account option, needs to stay the same.

Does any one know how soon MT4 will be in operation? Oanda is making a good move. We'll see what happens...

Overall, Oanda is good.

I didn't receive an email, so I guess I'll watch this thread for updates. I'm not a huge fan of MT4 but it does have it's uses so, when this becomes available to the public I will open a few new accounts.

is it possible to trade on demo?

Hi everybody,

I am new to forex and I would be very pleased if somebody could inform me what is the difference between my broker and MT4???

Why should I use MT4? For example I use MARKETIVA but I hear many people talking about MT4. What is the difference???

Thanx in advance!

MT4 is the ubiquitous charting package for retail brokers.
It is provided by Metaquotes, a third party software developer.
Its more customisable and user friendly than the POS Java platform that Oanda has offered over the years.
A lot of peeps use an MT4 demo account for charting then input their orders into another broker.
Try a demo account to see if you like it; Alpari and FxPro are two that come to mind which have many instruments available.

Oanda only offers MIT and stop orders , will MT4 offer more order types ?

Xaron,

How far back does the history go on the MT4 Oanda platform? I would imagine Oanda has some serious tick data available that goes way way way back.

We greatly appreciate your business and support in 2010. May the upcoming year bring you much happiness and prosperity.

As you know, OANDA Corporation is regulated by the Commodity Futures Trading Commission (CFTC) and National Futures Association (NFA). Each year, these regulators require us to send our clients:

A copy of OANDA's privacy policy, which you can find below.


A link to the NFA's Background Affiliation Status Information Center (BASIC), which is http://www.nfa.futures.org/basicnet/. On this web site you can look up information on OANDA (NFA ID: 0325821) as well as our competitors who are also regulated by the NFA.

CFTC Regulatory Changes and OANDA

The CFTC issued new forex rules last year that came into effect in October. The most newsworthy change was a reduction in leverage limits. These reduced limits were in line with the levels OANDA already provided, so had minimal effect on our traders. We want to take this opportunity to thank all our customers who wrote to the CFTC voicing their concerns over how the extremely low leverage limits originally proposed by the regulatory body would affect forex trading in the United States. We were impressed with the quality and insight of comments submitted by our clients and the U.S. trading public in general. Their opinions had a strong effect on the CFTC's final choices.

As part of the new CFTC rules, retail forex brokers must publish every quarter the percentage of customer accounts that were profitable. At OANDA, 48% of customer accounts were profitable in the third quarter of 2010, and 44% in the fourth quarter. We had by far the highest proportion of profitable accounts of any U.S. retail forex dealer.

Why Is OANDA Different?

There was considerable debate on why OANDA stood out from our competitors on the profitability numbers. From our point of view, our clients have several unique advantages. For example, we do not eat away at their balances with "non-activity" fees. We allow them to trade any amount, to better fit their trading strategies. We pay second-by-second interest on account balances, in contrast to some other brokers. But in the end, we believe the key advantages we offer our traders are quality of execution and tight spreads. Spreads are the effective cost of trading, and have a material difference on trading results. Many traders do not fully realize that a spread even one tenth of one pip lower can turn a profitable trading strategy into a non-profitable one.

Developments in 2010

The OANDA team works hard every day to improve our products. This work may not always be visible to you, but it helps us keep spreads tight and continually improve quality of execution. Perhaps this innovation is one reason we had a 60% increase in trading volume from Q1 2010 to Q4 2010.

In addition:

We launched a suite of mobile trading apps designed for iPhone, iPad, Android, and BlackBerry. Almost 25% of logins to our trading platform already originate from mobile devices, and this percentage is growing quickly. We thank all our customers who provided their feedback to help us improve these apps.


We updated the fxTrade web site to better tell our story and consolidate our many trading resources.


We introduced enhanced account statements so you can better understand and act on your trading style.


We improved our currency converter for the millions of monthly users who depend on OANDA's rates. New and repeat visitors gave us glowing reviews, and traffic to the converter increased over 40%.

There will be many more exciting developments in 2011, including the imminent release of a MetaTrader 4 trading platform. This additional platform release has been eagerly anticipated by many MT4 traders, who want customizable, automated access to our low spreads.

We thank you for trading at OANDA, and for using our services at fxConsulting and fxGlobalTransfer. As always, we welcome your feedback and suggestions, so please do not hesitate to contact us.


Sincerely,

Michael Stumm and the OANDA team

If the platform freezes or is otherwise inaccessible, will Oanda now allow clients to have their positions closed via chat or phone like every other broker?

There seems to be no mention of this very important detail.

You have to wonder why there is such a policy in the first place.

Testing MT4 Demo w/ FXTRADE