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  • #2,541
  • Aug 29, 2011 7:18pm Aug 29, 2011 7:18pm
Quoting fxreporter
I've been asking about a few brokers trying to make a decision. Oanda seems to be a big name but they don't seem all that special to me. Could those that use them give me a frank opinion about why and what drew them to Oanda in the first place? Is the execution that good? Cause the spreads don't seem to be? Is most of their volume retail or something else?
their execution is second to none, withdrawals are done within two working days recently within one for me. i place one to three trades a day and usually around strategic hours example when more than one market is open, so the amount of spread i pay is limited and i never trade around news or when rumors are in the air. even during normal hours like now at 8:15pm New York time their spreads is 1.4pips on the eurusd which is normal when comparing to other brokers. but the main reason for me is the stability and execution. In the 3 years i've traded with them i can count the requtoes on one hand.
Best Regards Moneymike
  • #2,542
  • Aug 29, 2011 7:45pm Aug 29, 2011 7:45pm
I've traded with Oanda for a loooong time. Their execution is superb. Instantaneous and no annoying requotes. The spreads are still decent and I've gotten so used to trading on the charts that MT4 is quite cumbersome for me in comparison. i.e: My tickets open with a percentage of account trade size and with stop, limit, and trailing stop always set in place at the open. All I have to do is click.


Quoting pipexplorer1
Has anyone used a credit card to withdraw from Oanda? How does it work? Like, if they credit the money to your credit card, can you get this money into your bank account? I wanted to use paypal but I found out it only is accepted for USD and not CAD.
These questions are best directed to customer service. They are available for live chat and can quickly define those rules for you.
  • #2,543
  • Aug 29, 2011 9:48pm Aug 29, 2011 9:48pm
Quoting Price
I've traded with Oanda for a loooong time. Their execution is superb. Instantaneous and no annoying requotes. The spreads are still decent and I've gotten so used to trading on the charts that MT4 is quite cumbersome for me in comparison. i.e: My tickets open with a percentage of account trade size and with stop, limit, and trailing stop always set in place at the open. All I have to do is click.




These questions are best directed to customer service. They are available for live chat and can quickly define those rules for you.
Yea I did talk to them and my problem's solved. They said I can use paypal for CAD .
  • #2,544
  • Aug 30, 2011 5:55am Aug 30, 2011 5:55am
Can we all here please start a petition for a 100:1 leverage for Oanda Europe?
I found a penny today. That's +100 pips for me.
  • #2,545
  • Aug 30, 2011 6:06am Aug 30, 2011 6:06am
Quoting OANDA
JeremyWS,

OANDA Europe does allow leverage on Metals. The CFTC changes are only applicable to OANDA Corporation clients.
Can I have a 100:1 leverage please.
I found a penny today. That's +100 pips for me.
  • #2,546
  • Aug 30, 2011 9:29am Aug 30, 2011 9:29am
Quoting ReaM
Can we all here please start a petition for a 100:1 leverage for Oanda Europe?
Considering that they limit their leverage to 50:1 with or without the CFTC's rules (i.e. it has more to do with their own risk appetite and personal anti-high leverage beliefs), I'd say good luck with that.

But I'll vote anyway. 100:1 http://www.forexfactory.com/images/icons/icon14.gif
  • #2,547
  • Aug 30, 2011 9:38am Aug 30, 2011 9:38am
ok, my wishlist is:

Also 100:1,
but also lower than 10:1.
I want to choose 2:1 on some subaccount if I wish.
Why am I forced to use at least 10:1? hm?

Furthermore, I wish another currency pair:

USD/BTC
this pig cannot be slaughtered for ever... or can it?
  • #2,548
  • Aug 30, 2011 9:43am Aug 30, 2011 9:43am
Quoting georgem
but also lower than 10:1.
I want to choose 2:1 on some subaccount if I wish.
Why am I forced to use at least 10:1? hm?
That's a good point too.
  • #2,549
  • Aug 30, 2011 9:45am Aug 30, 2011 9:45am
Is 100:1 leverage allowed in the US at all, for any broker?
  • #2,550
  • Aug 30, 2011 10:01am Aug 30, 2011 10:01am
Quoting pipexplorer1
Is 100:1 leverage allowed in the US at all, for any broker?
No it's against the law, for any registered broker to give 100:1 leverage.
Best Regards Moneymike
  • #2,551
  • Aug 30, 2011 12:16pm Aug 30, 2011 12:16pm
Quoting pipexplorer1
Has anyone used a credit card to withdraw from Oanda? How does it work? Like, if they credit the money to your credit card, can you get this money into your bank account? I wanted to use paypal but I found out it only is accepted for USD and not CAD.
I have transfered to they with Visa card from my bank account.
The withdraw was allowed to the same bank account from where it was the transfer.

I found the Paypal is more expensive than any other wire transfer. Not just here, but at games and everywhere.
The single reason to use Paypay I think, when you want to hide your bank account number from payments / increase.
I want to buy PATIENCE
  • #2,552
  • Aug 30, 2011 12:38pm Aug 30, 2011 12:38pm
Quoting pipexplorer1
Is 100:1 leverage allowed in the US at all, for any broker?
That's why I am saying Oanda Europe
I found a penny today. That's +100 pips for me.
  • #2,553
  • Aug 30, 2011 12:44pm Aug 30, 2011 12:44pm
Quoting georgem
ok, my wishlist is:

Also 100:1,
but also lower than 10:1.
I want to choose 2:1 on some subaccount if I wish.
Why am I forced to use at least 10:1? hm?

Furthermore, I wish another currency pair:

USD/BTC
Basically yes why not, if you want even 500:1, from my part...
What if Oanda allows 100:1? - they will me more who will use higher leverage than 50:1. Than means it will be more casino players at Oanda, who will lose faster they money.
Does it affect others?
- lets say those who are using now 50:1 will use 500:1 , because they are allowed to use, and they believe faster will be rich.
Well, I think faster will lose money. If they are tradig with 500:1 leverage, than Oanda should deal 10x volume internal matching + deals on interbanking channel.

The matching internal I think is only hardware ( server ) requirement, so not a problem, but at interbanking channel it could be to cover the deals ( for you too ).

I think it will be bigger slippages on a news times, anyhow even with 10 pip spread on news releases with LIVE account . Trading from Europe to USA server at Employment rate and some other news spikes is a kind of hard:
When I press the buy button I have 10 pip spread, and when is executed I am with 20- or even 30 pip in minus. Maybe I see a profit of 10 or 20 pip, but when I close I am in negative with 10 pip... second slippage.

Instead of spike trading try to estimate ( guess ) where it will going the price : up of down . Enter on position when the spread is normal: max 3 pip, but should be under 2 pip. If you are unlucky the SL is hitten, else the TP or Close or TS.

Today at 11:00 my time it was a news release:
http://www.forexfactory.com/showthre...50#post4912650

77 pip, spread it was like 1.2 ? or someting like that, but not 10-20 pip for sure.

Another news:
http://www.forexfactory.com/showthre...24#post4858624

On this trades I am using max 1:10 leverage

At the settings I have 7% leveraged nav. And account settings 20:1.
On this nice, normal and safe trades it is 1:1.5 leverage or 1:2 any on this trade my account increased almost 1%. 1% each day is to much for me, I am very fine with 10% / month in plus and nothing in minus.
That is why is worth to play with 20,000 usd minimum, and not 100-1,000 overleveraged: make 5,000 from 1,000 than lose all.

Btw: with 1:100 you can lose all in 1 trade, with 1:50 you can lose a half and you have a second chanse: to lower the leverage and use SL
I want to buy PATIENCE
  • #2,554
  • Aug 30, 2011 1:06pm Aug 30, 2011 1:06pm
Quoting matheszabi
Btw: with 1:100 you can lose all in 1 trade, with 1:50 you can lose a half and you have a second chanse: to lower the leverage and use SL
The cool thing with oanda is you can use different subaccounts with different leverage.

I can imagine that oanda pools customers with the same leverage together... to keep them manageble. They keep differently leveraged accounts apart.

(Well, I would love to have a 500:1 leverage subaccount to place small trades at extreme levels.... like for example when EUR/CHF nearly reached parity some days ago... I would have loved to BUY EUR/CHF with a small size subaccount (all in).

Would be a nice offset to have!)
this pig cannot be slaughtered for ever... or can it?
  • #2,555
  • Aug 31, 2011 2:33am Aug 31, 2011 2:33am
(Well, I would love to have a 500:1 leverage subaccount to place small trades at extreme levels.... like for example when EUR/CHF nearly reached parity some days ago... I would have loved to BUY EUR/CHF with a small size subaccount (all in).

i'll share some similar wishes... i'd also love to trade any account with 1:500 or 1:250 leverage etc , to trade eur/usd (and maybe gbp/usd , gbp/chf also) ... for the purpose of making any small balance much larger in a short time... but is there any reputable broker offers such leverages actually ?
the best indicator is trader's knowledge , experience and dicipline.
  • #2,556
  • Edited 12:35pm Sep 2, 2011 7:23am | Edited 12:35pm
Hi,

Just noticed the time displayed in MT4 in the Market Watch is about 7 seconds behind my PC time (which is in agreement with the results from time.gov). Does anybody else have the same problem?

Thanks,

- scr

PS: added a screen shot. You can see that OANDA time lags MBT/PC time by 7 sec...
Attached Image (click to enlarge)
Click to Enlarge Name: time.jpg Size: 180 KB
  • #2,557
  • Sep 4, 2011 1:05am Sep 4, 2011 1:05am
Guys I know that Oanda US now only uses 1:1 leverage for gold XAU/USD because of new US regulations. But does Oanda Singapore also use 1:1 or is still more than that?
  • #2,558
  • Sep 4, 2011 5:13am Sep 4, 2011 5:13am
Quoting screenname
Hi,

Just noticed the time displayed in MT4 in the Market Watch is about 7 seconds behind my PC time (which is in agreement with the results from time.gov). Does anybody else have the same problem?

Thanks,

- scr

PS: added a screen shot. You can see that OANDA time lags MBT/PC time by 7 sec...
Open a demo with a different broker and look at M1 chart if they move the same. Next time you should hide the account number a little better.
I found a penny today. That's +100 pips for me.
  • #2,559
  • Edited 5:33am Sep 4, 2011 5:22am | Edited 5:33am
Quoting matheszabi
Basically yes why not, if you want even 500:1, from my part...
What if Oanda allows 100:1? - they will me more who will use higher leverage than 50:1. Than means it will be more casino players at Oanda, who will lose faster they money.
Does it affect others?
- lets say those who are using now 50:1 will use 500:1 , because they are allowed to use, and they believe faster will be rich.
Well, I think faster will lose money. If they are tradig with 500:1 leverage, than Oanda should deal 10x volume internal matching + deals on interbanking channel.

The...

why would you even mention NFP? I would not recommend trading news at all, even if you have great fills and low spread.

And why are you protecting those pure gamblers who will lose their money anyways? 50:1 leverage is enough to wipe you out in one day.

The way I'd imagine 100:1 at Oanda Europe is that you will have to sign an additional paper and send it to them. So, only those who need it will do that.

I don't even need 100:1, all I need is 60:1 and I am happy!

You play with 7% of all available units, I play with 90%+ (If I set 100 it says not sufficient funds, so I have to use lower than 100%). And I still risk less than 2% per trade.

Available leverage should have no effect on trading. Whether 500:1 or 100:1, position size is always the same...


If your account is in USD, the maximum position you can open is 50/(price of EURUSD). Today it would be 50/1.42xx=35.

So, for a 1000 dollars maximum position you can open is 0.35 lot. For my scalping I need at least 0.40 lot for each $1000, which equals to about 60:1 leverage.

For my account I need a 5.6 lot position at minimum and all I can get using 100% nav is 4.9 lot.

I don't think anyone would need more than that, because then your SL would need to be tiny small, maybe 2-3 pips. So, a 100:1 leverage is perfect.

Others mentioned they need 500:1 leverage, GFT offers 400:1 (be careful, gft has monthly inactivity fee, so, trade every other month).
I found a penny today. That's +100 pips for me.
  • #2,560
  • Sep 6, 2011 12:08am Sep 6, 2011 12:08am
Hi All
Hope someone can help me here. Is it possible to setup the fxtrade "trading" tab so that no matter what pair you are trading, you would buy the correct number of units to risk 1% of your account balance? I realize you would have to define your stop loss...say with a stop of 20 pips. Thanks so much.
Mark
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