OANDA Discussion

The disappointment with a once very good broker is growing on a daily basis.
The newest issue I have with fxtrade is once a breakout is on the verge of happening, the connection quality significantly drops.

MT4 got uninstalled very soon after it was introduced.

I've been following OANDA's regulation with the FSA closely, and I am very happy that they are now regulated by the FSA,.

I have couple of questions here as i am looking to open an account with OANDA EUROPE.

1-What is the Max leverage available
2- is hedging allowed?
3- is MT4 also available?

I will appreciate it if anyone can help me with these.

Thanks
ER

Official OANDA Europe announcement:


LONDON, June 22, 2011 — OANDA Corporation, provider of innovative online forex trading, highly competitive global currency transfers, and the world’s most accurate currency data, has opened an office in London to manage the company’s newest subsidiary, OANDA Europe Limited. The launch is part of OANDA’s goal to expand business development efforts in the UK and Europe and support existing clients with a stronger regional presence.
OANDA now has five offices worldwide, in New York, Singapore, Toronto, Dubai, and London. Each is fully regulated in its respective jurisdiction.

“OANDA has been on a sustained growth trajectory since we introduced our revolutionary forex trading platform, fxTrade, back in 2001; OANDA Europe marks another important phase of our global expansion strategy,” said Michael Stumm, CEO of OANDA Corporation. “Our UK and European clients will now have the advantages of trading under rules tailored to their jurisdiction. We look forward to delivering these clients more personal service along with the ultra-tight spreads, quality execution, and consistent liquidity they expect from OANDA.”

Antony Broadbent is managing director of OANDA Europe Limited. He brings more than 15 years of financial services experience to his role at OANDA. Broadbent has held a number of senior management positions at institutions regulated by the UK FSA, including Alliance Bernstein and Capital One. He also spent 10 years with leading international management consultants McKinsey & Company.

“The launch of OANDA Europe is the culmination of a great deal of hard effort, and along the way we’ve gained a deep understanding of how to be more responsive to the needs of this market,” said Broadbent. “Currency traders in the UK and Europe are looking for pricing and liquidity; OANDA’s innovative approach delivers what they need, and more. Our open, flexible trading environment gives clients clear information about trading costs and the ability to trade the way they want to — without paying a penalty.”

Broadbent pointed out that nearly 40 percent of the world’s foreign exchange activity passes through the UK capital. “London is the centre of the global forex market. It makes perfect sense for OANDA to have a base here — it’s the ideal location from which to serve our clients all across continental Europe.”
OANDA Europe Limited is regulated by the UK Financial Services Authority (FSA), an independent body granted a wide range of rule-making, investigatory and enforcement powers by the Financial Services and Markets Act 2000. For more information please visit http://fxtrade.oanda.co.uk.

About OANDA
OANDA started in 1995 as the first online provider of comprehensive currency exchange information. Since then the OANDA Rate has become the benchmark for corporations, tax authorities, auditing firms, and central banks. In 2001 OANDA launched fxTrade, the first fully automated online forex trading platform. fxTrade was the first platform to offer immediate execution, support trades and accounts of any size, enable true 24/7 trading, and eliminate the rollover swap by calculating interest by the second. OANDA’s innovative technology has enabled it to sustain a large trading volume. Peak performance has been measured at 1.5 million trades a day, far exceeding the volume typically handled through any of the leading global banks or electronic communication networks (ECNs) that trade forex. OANDA also offers global currency transfers through a fast, efficient, automated platform at ultra-competitive prices.

OANDA Corporation is a registered Futures Commission Merchant (FCM) with the U.S. Commodity Futures Trading Commission (CFTC) and is a forex dealer member of the U.S. National Futures Association (NFA). OANDA Corporation owns the following subsidiaries: OANDA Asia Pacific Pte Ltd, regulated by the Monetary Authority of Singapore with a Capital Markets Services license; OANDA Middle East Corporation Ltd., with a license from the Dubai Financial Services Authority (DFSA); OANDA Canada, regulated by the Investment Industry Regulatory Organization of Canada (IIROC); and OANDA Europe Limited, regulated by the Financial Services Authority (FSA) of the UK.

1. The Max leverage available for major pairs is 50:1. More info here: http://fxtrade.oanda.co.uk/help/policies/margin-rules
2. Hedging (opening long and short trades on the same currency pair in a single account) is not available with OANDA Europe.
3. OANDA MT4 is available to OANDA Europe clients.

Let me know if you have any more questions about OANDA Europe,

Best regards,

As a result of the recently enacted Dodd芳rank Wall Street Reform and Consumer Protection Act, U.S.-based retail forex dealers such as OANDA are prohibited from offering leveraged trading in precious metals to retail clients after Friday, July 15, 2011.

As a client based in the U.S., you will not be able to trade our four precious metal pairs (XAU/USD, XAG/USD, XAU/JPY, XAG/JPY) on a leveraged basis, effective end of day July 15. Leveraged trading in other currency pairs will remain unaffected, with the same margin requirements.

You will still be able to trade precious metals, but only on a 1:1 non-leveraged basis (requiring substantially more margin). If you do not have sufficient margin to cover your open metal positions in full, you need to reduce your exposure to gold and silver pairs before end of day July 15, or risk a margin call of all your open positions when this change is implemented.

We sincerely regret any inconvenience caused by this change in legal requirements. If you have any questions, please do not hesitate to contact our Customer Service Team at frontdesk@****.

We appreciate your business with OANDA.

- The OANDA fxTrade Team


Why is this change required?

Effective the end of Friday, July 15, 2011, Retail Foreign Exchange Dealers (RFEDs) registered with the Commodity Futures Trading Commission (CFTC) will be prohibited from offering leveraged retail trading in commodities, including precious metals such as gold and silver. This change in the U.S. law is being enforced by the CFTC as an outcome of The Dodd芳rank Wall Street Reform and Consumer Protection Act.




IMPORTANT NOTE: Security requires diligence. Always check that the login page domain name is fxtrade.oanda.com before entering your OANDA username and password.

If you are concerned about the authenticity of this or any other e-mail you receive from OANDA, please contact us by email at frontdesk@**** or call +1-212-858-**** (New York) to talk to a customer service representative.

I havent recieved such an email yet.... hm... maybe because I have no open XAG XAU positions?

I can't See how Trading Gold Hurts anyone. I don't Trade it myself but if someone Wants to own gold Let them. Bet ya the Major Banks and Hedge funds will still be trading gold On July 16th

I say... if someone wants to own gold, he has to buy physical anyway.

There is no real "owning" in paper gold...

And yes you are right.... we have once more a "overregulate the little guy"- situation... and let the big banks (the real culprit) run free.

This is just a load of you know what, but this is the way it is i guess.

Does anyone know if non US residents will still be allowed to trade gold and silver at Oanda with leverage?

you can still trade them but without leverage and this is for US residents only.

http://www.zerohedge.com/sites/defau...hi/Oanda_0.jpg

I think you misunderstood, you can still trade, but only 1:1 leverage instead of the 20:1, this is due to the commodities spot market being full of scams and such so they want 'control' over it, the big spot metals traders will probably go for futures now.

So we have to come up with +$1500 to buy One unit of gold? Then only chum change on it

You are talking ONLY about spot/OTC metals, no offense, but you obviously aren't to much into the options/futures side of trading where the real money is.

When I say this, I don't mean for it to sound bad even though it is often meant to be perceived that way, but 'do yourself a favor' and just look at what it cost to start some of those contracts {alot more then what it takes to start a spot contract}.

This is just weeding out the scammers to prey on the 'newbies' who trade OTC metals and don't have the means to trade options/futures. IMO of course.

cannot login for 10 min

same here

try it now guys/gals

it's ok now, took only 20 min

I do trade the options market But with Qe2 and inflation you can't tell the True value of a stock. If Greece were to fail today stocks that need not fall will fall. So until this soft Patch is over I'll Stick to Forex.

And since am not an american i can still Buy gold if i want. but i dont because like you said there are people that manipulate the price of gold and silver so i stay away from those high risk trades.

theres to many regulations being implemented into this bucket shop,oanda is one of the best brokers for small accounts and spreads,but still most of the open positions never get past to the banks,and are hedged against other customers,so it looks now that their lemonade stand is trying to say look we are the same as coca cola company Oanda isnt bad but all the recent implementations say,put more money if you want to trade,and dont f**k up while opening positions coz if you do you get burned,but as they say its only for the better of customers.I guess its a good time to open a ducascopy or a proper ECN account.

just saw this. damn is this broker a rigger or what..

USDCHF - 15mins and USDJPY 15

its mostly chf and jpy pairs. do you have the same? on IBFX and FXCM i dont see this spike