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...
I just reeeaaalllyyyy do not understand why OANDA is going to cease XAU/USD and other metals
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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.
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
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
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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.
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
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I am sorry, but if you are trading the news without a prior open position, that is suicide and a PURE gamble.
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
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
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Oanda is not the only broker wich widen spreads during news. FXCM had a 90(!!!) pips on g/y last fall. I was shocked.
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.
Ignored
My fxtrade isn't working again. Should I not get some server in the USA perhaps, maybe my isp is choking the stream. ?
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