Trade at oanda or move to direct trading w/ bank if you going trade $1M

Hi guys,

Will you continue to trade at oanda or move to direct trading w/ bank if you are going to trade > $1million fund?

I don't think it would be a good idea to sink $1M into any single vehicle. Find four good fund managers and put 200K into each one. Divide the remaining 200K into two separate forex brokers and trade them yourself, I mean, if you really want to trade. That's a simple answer. You can get as complicated as you want but the point is to diversify that million bucks. I'd also keep as much of it as I could out of USD. Spread most of it into EUR, GBP, CHF, precious metals and other commodities. Definitely consult with a financial planner who specializes in capital preservation.

You may have already thought way ahead of those solutions but that's just my 2 pips.

try cme fx.

I think that with all major brokers you can make deposit like this without any worries, because they have such lot of traders.
But i would find directly any ECN broker with lot of liquidity for trading with such ammounts.

Without knowing your trading system, but i quess you really do not need to put the whole million to the trading account.

Here is an example:

We are trading eur/usd 1 postion at a time. No scaling in. Risk 1% per position. We don't put stoploss never closer than 50 pips. Maximum available leverage 1:40.

So our biggest position will be 1% * $1M / 50 * 10000 = 2M

The margin requirement will be 2M / 40 = 50000€

Some room for the fluctuation (you may hit a loosing streak just when you start) for example 10 x risk = $100 000

Needed capital in your trading account is then only 50€k + $100k

The rest of your capital can be kept somewhere in the "safe" place for example in your local bank.

I can recommend Interactivebrokers as your broker. I have been their customer since 2005. No problems with the execution EVER. Thousands of positions. Their financial data is public. Well regulated. Low commissions. Tight spreads (eur/usd 0.5 pip). I keep the rest of my capital in the euros or dollars depending on the current market sentiment in the weekly time frame (local bank, commission based).