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OANDA Discussion

Quoting boypunas
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
Didnt see it with FXCM because they close earlier , but i can see the same with Igmarkets .
and Alpari, as well.
Quoting zonrokoy
and Alpari, as well.
Yeah, I saw it too
News from them

Quote
Effective July 15, by law we must reduce leverage for gold and silver to 1:1. If you trade metals, please take action now to avoid margin calls.
http://fxtrade.oanda.com/help/precio...als-07-15-2011

Quote
Important Changes to Gold and Silver Trading

If you trade precious metals, take action now to avoid margin calls





As a result of the recently enacted Dodd–Frank Wall Street Reform and Consumer Protection Act, OANDA (U.S.) Corporation is prohibited from offering leveraged trading in precious metals to retail clients after Friday, July 15, 2011.

What does this change mean to your trading?
After July 15, you will still be able to trade...

We can't trade gold/silver with them anymore.
Keep Simple...!
Quoting kotlt
News from them


We can't trade gold/silver with them anymore.
Of course you can still trade metals, just non-leveraged. Read carefully.
Yeah i know, but trade metal without leverage mean nothing to me.
Keep Simple...!
I just reeeaaalllyyyy do not understand why OANDA is going to cease XAU/USD and other metals
Quoting Julian_Ass
I just reeeaaalllyyyy do not understand why OANDA is going to cease XAU/USD and other metals
I live in the UK and trade with oanda, I am registered with Oanda US. But recently Oanda have set up Oanda Europe, and are now FSA regulated.

If you live in the UK and I would assume the rest of europe, you will be able to tranfer your account to become registered in Euroupe, then you will be able to trade gold and silver with leverage. You will no longer be under US law.

Not sure if this will happen in time for 15th July or not.
In case you have not had this email-

As a result of the recently enacted Dodd–Frank 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 trading with our OANDA Corporate (U.S.) Division, 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, 2011. Leveraged trading in other currency pairs will remain unaffected, with the same margin requirements.

We are working hard to minimize the impact of this restriction on our clients' trading. For example, if you are not a citizen or resident of the U.S.A. you will be able to transition soon to our OANDA Europe Division without needing to close your open positions. We will send a detailed email soon with instructions on how to migrate your account.

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
Quoting highlander2
In case you have not had this email-

... you will be able to transition soon to our OANDA Europe Division without needing to close your open positions.
Yes, I recieved that too.

The important part is "without needing to close your open positions"

This is fantastic. Way to go oanda!
this pig cannot be slaughtered for ever... or can it?
Hi folks,
FXTrade server time used to be set to US Eastern Std Time, now it is off by 4 hours, anyone know why?

Thanks
Quoting kotlt
Yeah i know, but trade metal without leverage mean nothing to me.
Sure, it is better to go to futures brokers
Opening an office in UK is great news. They should have done it long ago.
Quoting Julian_Ass
I just reeeaaalllyyyy do not understand why OANDA is going to cease XAU/USD and other metals
Are you Kelly Bundy?
Quoting bravester
Hi folks,
FXTrade server time used to be set to US Eastern Std Time, now it is off by 4 hours, anyone know why?

Thanks
Fxtrades time Mimic your system's Time by default. go to user preferences Local and make sure that it is set to system time so that it uses your computer's time as it's own.
Best Regards Moneymike
by the way, this is the video that was shown at the oanda europe opening party:

Inserted Video
this pig cannot be slaughtered for ever... or can it?
Quoting Julian_Ass
I just reeeaaalllyyyy do not understand why OANDA is going to cease XAU/USD and other metals
Federal Regulations, Dodd-Frank act
I gotta dollar .. I gotta dollar .. I gotta dollar .. HEY HEY HEY HEY
Quoting DanielX
I have an account with Oanda and so far my only problem with them is their wide spreads during news , it can get up to 30 pips on GBP/USD which is ridiculous , like it's not enough that traders are risking their funds but they have to deal with Oanda crazy huge spreads too
I am sorry, but if you are trading the news without a prior open position, that is suicide and a PURE gamble.

http://fxtrade.oanda.com/why/spreads/recent

those 'high' spreads you speak of are very rare and in highly volatile times {high volitile markets do not care about the number of traders there are}.

If you have to complain about the news spreads, don't trade the news or open a position prior to the few minutes before the news.

besides that, they are awesome.
I gotta dollar .. I gotta dollar .. I gotta dollar .. HEY HEY HEY HEY
Quoting DanielX
I have an account with Oanda and so far my only problem with them is their wide spreads during news , it can get up to 30 pips on GBP/USD which is ridiculous , like it's not enough that traders are risking their funds but they have to deal with Oanda crazy huge spreads too
Oanda is not the only broker wich widen spreads during news. FXCM had a 90(!!!) pips on g/y last fall. I was shocked.
Quoting pennies
I am sorry, but if you are trading the news without a prior open position, that is suicide and a PURE gamble.

http://fxtrade.oanda.com/why/spreads/recent

those 'high' spreads you speak of are very rare and in highly volatile times {high volitile markets do not care about the number of traders there are}.

If you have to complain about the news spreads, don't trade the news or open a position prior to the few minutes before the news.

besides that, they are awesome.
My fxtrade isn't working again. Should I not get some server in the USA perhaps, maybe my isp is choking the stream. ?

please advise.
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