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OANDA Discussion

  • #2,041
  • May 17, 2011 8:41am May 17, 2011 8:41am
I have traded live with Oanda for a couple of years now and never had any trouble with requotes, withdrawing or depositing. I like there simple chart package and the fact that i can load it up on any computer anywhere i wish without having to download the platform. I had a look at the there metatrader platform and it looks fine. not for me though. instant chat when i have needed help has always been good too. If i run into probs i will post about them.
  • #2,042
  • Edited 4:41am May 18, 2011 4:31am | Edited 4:41am
Be careful, oandas price feed seems to be broken...no update for almost 8 min. now


edit: and here wo go again...
Never whishing, always trading.
  • #2,043
  • May 18, 2011 8:35am May 18, 2011 8:35am
Quoting newbegger
I never had an account with Oanda before and it is not easy to navigate. I had to go the live chat just to find out why I could not get a DEMO account (or practice account as Oanda calls it). Still have not been able to login.

Is anyone here actually trade with Oanda and see any advantages over other retail FX brokers? My first reaction is if it is this hard to get a DEMO account, getting LIVE account might be bad idea. I don't want to get involved with another troubled broker like REFCO. I lost a bundle with that mess;-))
I've been trading live with Oanda for over a year. Also have a live account with MBT.

Why go with Oanda? I think that depends on what you're looking for. Personally, I scalp and Oanda has 4 things going for it that others do not. 1) Lower spread for Eur/Usd compared to other non-ecn's. 2) One click trading. A must for my style. 3) Able to enter trades directly into the platform. You can do this with other brokers too, but for my specific style I would have to use another layer such as Ninjatrader, Multicharts, etc.. which slows things down and of course for scalping that's very bad. And finally, 4) the ability to define exactly how many units you want to trade which lets me compound my account daily.

Now that's me. You need to take into account your own style of trading and which broker serves your needs best.
  • #2,044
  • May 18, 2011 8:41am May 18, 2011 8:41am
Hello guys,

I am interested in either Oanda or Dukascopy. It looks like oanda has higher spreads than Dukascopy. However, it looks like they do not have any kind of commission.

Which one would you recommend?
I am interested, primarily, in low spreads for EURUSD.

Thank you.
  • #2,045
  • May 18, 2011 9:31am May 18, 2011 9:31am
You should look up the difference between ECN brokers and non ECN's and which one fits better with your trading style. Then you'll have a better idea which one to go with.

Your trading style, time of day, etc., will all effect the actual spread you pay.
  • #2,046
  • May 18, 2011 12:02pm May 18, 2011 12:02pm
Thank you very much.

I have looked up the difference and I have concluded that I need a broker that is non ECN and that has very low spreads, fixed over the night as well. I have seen that ECNs are changing the spreads, the leverage and they apply different commissions during the night.

Now, Dukascopy is out. Could you guys recommend a broker that has lower spreads than Oanda?

Thank you
  • #2,047
  • May 18, 2011 12:31pm May 18, 2011 12:31pm
I Have a friend That trades with Gain capital and he swears by it As to if they are a ECN i don't know.But research them to see how their spreads, leverage and Stability are.
I've also Heard good News about Forex-club But again i never Tried them out. It's Just Gossip
Best Regards Moneymike
  • #2,048
  • May 18, 2011 1:09pm May 18, 2011 1:09pm
any oanda's mt4 experience?
  • #2,049
  • May 18, 2011 3:31pm May 18, 2011 3:31pm
Quoting JohnnyDoe83
Thank you very much.

I have looked up the difference and I have concluded that I need a broker that is non ECN and that has very low spreads, fixed over the night as well. I have seen that ECNs are changing the spreads, the leverage and they apply different commissions during the night.

Now, Dukascopy is out. Could you guys recommend a broker that has lower spreads than Oanda?

Thank you
Oanda is the lowest for Eur/Usd.
  • #2,050
  • May 18, 2011 3:49pm May 18, 2011 3:49pm
Thank you Trankuility.

I have started a practice account at Oanda and I think I will go with them when I decide to open a Live one.

I will keep an eye out though for other brokers as well.
  • #2,051
  • May 19, 2011 5:28am May 19, 2011 5:28am
I'm trying also the fxPractice account and I'm wondering if there is a way to close partially an order. For example I have an eurusd order opened with 10000 units (0.1 lot) and I like to close half units (5000) , is it possible to do this from fxPractice platform ?

Ty
Cheers,
Skyline
  • #2,052
  • May 19, 2011 5:59am May 19, 2011 5:59am
Quoting skyline
I'm trying also the fxPractice account and I'm wondering if there is a way to close partially an order. For example I have an eurusd order opened with 10000 units (0.1 lot) and I like to close half units (5000) , is it possible to do this from fxPractice platform ?

Ty
Cheers,
Skyline
If you have a long order for 10,000 then sell 5,000.
  • #2,053
  • May 19, 2011 6:10am May 19, 2011 6:10am
Quoting Dopey
If you have a long order for 10,000 then sell 5,000.
oh ok Dopey thanks

Cheers,
Skyline
  • #2,054
  • May 19, 2011 12:19pm May 19, 2011 12:19pm
Quoting skyline
oh ok Dopey thanks

Cheers,
Skyline
Just be aware of the FIFO regulations. If you have more then one long open its going to effect the oldest one.
  • #2,055
  • May 19, 2011 12:23pm May 19, 2011 12:23pm
Quoting tormo
Just be aware of the FIFO regulations. If you have more then one long open its going to effect the oldest one.

Is there any benefits to fund Oanda account by wire or cheque?
Thanks for help
Jaro
  • #2,056
  • May 19, 2011 12:29pm May 19, 2011 12:29pm
Quoting Jaro
Is there any benefits to fund Oanda account by wire or cheque?
Thanks for help
Jaro
Not too long ago it was the Only way to fund your Oanda account. Am pleased as to the credit card addition, And i've used it just last week. But i'll still fund the account Via Wire to safeguard my Credit card info. As for the Cheque i don't Know, It take So long to reach by mail and clear before your account can be funded.
Best Regards Moneymike
  • #2,057
  • May 19, 2011 12:36pm May 19, 2011 12:36pm
If you are not in Canada, I believe you cannot deposit cheques. So, if you fund from credit card, then they will transfer money (profit) back to the card???
Thanks
  • #2,058
  • May 19, 2011 12:58pm May 19, 2011 12:58pm
Quoting tormo
Just be aware of the FIFO regulations. If you have more then one long open its going to effect the oldest one.
Thx for the info Tormo!
  • #2,059
  • May 19, 2011 1:05pm May 19, 2011 1:05pm
Quoting Jaro
If you are not in Canada, I believe you cannot deposit cheques. So, if you fund from credit card, then they will transfer money (profit) back to the card???
Thanks
No idea. Probably not.

Click here to ask them. You'll get a quicker response than by posting here.
  • #2,060
  • May 19, 2011 2:06pm May 19, 2011 2:06pm
Quoting Marv
No idea. Probably not.

Click here to ask them. You'll get a quicker response than by posting here.
Thanks, talked to them already.
Good Trading
Jaro
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