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OANDA Discussion

Quoting eu_trader
i guess this broker is an MM as well as ECN........just tt they cannot spot who is the good and bad traders........need some time to see the real pro........it is true that when a trader profit, they lose. Thus, i recommend to withdraw your profits until u get back your initial capital, while the remaining profits use it to compound.......
Oanda is a market maker, as per their website.

http://www.oanda.com/corp/
reliable fx brokers

1. oanda
2. fxcm
3. forex.com (gain capital)
Quoting alexpipfx
1. oanda
2. fxcm
3. forex.com (gain capital)
fxcm: terrible spreads
Gain capital?
Quoting alexpipfx
reliable fx brokers

1. oanda
2. fxcm
3. forex.com (gain capital)
The 2nd and 3rd are LOLs. I was unable even open account with FXCM and Gain Capital is total trash with monthly inactive fee etc.
Quoting Dodo1497
The 2nd and 3rd are LOLs. I was unable even open account with FXCM and Gain Capital is total trash with monthly inactive fee etc.
Gain is total shite and FXCM is being sued for ripping people off. Oanda has its issues with the platform, but they have integrity and integrity goes a long way.
Don't wish it were easier, wish you were better. ~ Jim Rohn
i got otp setting problem with oanda. are you guys having the same problem? no lies. traders should back up traders.
Hello,

I would like to start trading and from what I read seams that OANDA and Alpari are the best broker to my profile. However when I visit their(OANDA) site I can't find a lot of important information, maybe because the website is translated to my country language and the site is incomple. If someone knows the answer to this questions or can point me to where are the reply I would be grateful.
1) What is the min deposit?
2) They allow use micro lots? 0,01 lots in this case
3) Can I use MT4 to negotiate?
4) What the max leverage allowed(forex)?

Thank you
Quoting trillion
Hello,

I would like to start trading and from what I read seams that OANDA and Alpari are the best broker to my profile. However when I visit their(OANDA) site I can't find a lot of important information, maybe because the website is translated to my country language and the site is incomple. If someone knows the answer to this questions or can point me to where are the reply I would be grateful.
1) What is the min deposit?
2) They allow use micro lots? 0,01 lots in this case
3) Can I use MT4 to negotiate?
4) What the max leverage allowed(forex)?

Thank...
Hi,
1) Depending on method,it's 10 USD for credit card for example (generally very small).
2) You can trade any size, even 1 unit, 53 units, 1027 etc. ...
3) You can use MT4, but then min. trading size will be 1 micro lot = 0.01 standart lot size.
4) 50:1
THE most important fact/advantage about OANDA: LOT SIZE equals 1 DOLLAR (Euro).
Meaning , you can adjust your position size to the penny.
Position size is the one most important factor in your bottom line, far more important than entry and exit.
That´s mostly ignored, even by the biggest, and one of the main reasons why most loose in the game..including many of the biggest.

Cheers and good luck...better still: study position size carefully.
I trade with OANDA, they are not my friends (all brokers trade against you), but it´s the best casino in town...because of their lot size...
Quoting Dodo1497
Hi,
1) Depending on method,it's 10 USD for credit card for example (generally very small).
2) You can trade any size, even 1 unit, 53 units, 1027 etc. ...
3) You can use MT4, but then min. trading size will be 1 micro lot = 0.01 standart lot size.
4) 50:1
i think its only 50:1 here in the US. i think in other countries still up to 400:1
hi

i'm in the process of opening an Oanda Asia account

if, hypothetically, Oanda US encountered financial problems, would this have an impact upon an account held in Oanda Asia?

or are they effectively separate legal entities; ie., Oanda US wouldnt be able to get its hands on money held in Oanda Asia accounts

thanks in advance
Quoting PeterE
hi

i'm in the process of opening an Oanda Asia account

if, hypothetically, Oanda US encountered financial problems, would this have an impact upon an account held in Oanda Asia?

or are they effectively separate legal entities; ie., Oanda US wouldnt be able to get its hands on money held in Oanda Asia accounts

thanks in advance

The parent company of all Oanda regional entities is OANDA Corporation, New York - they are not separate. They would all go into bankruptcy, should that ever arise. However, client money in UK, Canada and Asia/Pacific appear still to be relatively safe under such a scenaro (account seggregation).

"As a Capital Markets Services licence holder licensed by Monetary Authority of Singapore, OANDA is required to and has set up a trust account at a major bank registered and licensed in Singapore. All funds you send to OANDA must be deposited in this trust account, and held there in trust for you. This means that your funds are segregated and maintained separately from OANDA own funds, and can only be withdrawn as a direct result of your trading-related activities or withdrawal requests. No withdrawals can be made from this account for any OANDA operations."

Its still theoretically possible that they pull a MFGlobal and unlawfully remove funds out of trust accounts. Nothing is 100%..
shrike, thanks for the clear explanation
Oanda Asia is a subsidiary of Oanda. A subsidiary is a separate entity controlled by its parent company. Because it's a separate entity, it is possible for one of them to be involved in legal proceedings, bankruptcy, tax delinquency, etc. while the other is not. Typically however, subsidiaries get included in the bankrupency of the parent company as the value of their stock (owned by the parent) is an asset available to creditors.

Having said that, I'd say that, hypothetically, Oanda has less chance of failing than its Asian subsidiary; and you on the other hand have a MUCH greater chance of failing than both companies.

Worry more about your trading, Oanda will be fine.
Quoting PeterE
hi

i'm in the process of opening an Oanda Asia account

if, hypothetically, Oanda US encountered financial problems, would this have an impact upon an account held in Oanda Asia?

or are they effectively separate legal entities; ie., Oanda US wouldnt be able to get its hands on money held in Oanda Asia accounts

thanks in advance
PeterE,


OANDA Asia Pacific holds a Capital Markets Services (CMS) License (number CMS100122-3) issued by the Monetary Authority of Singapore (MAS) under the Securities and Futures Act (SFA) of Singapore.

As required by the SFA, OANDA Asia Pacific has set up a trust account at Standard Chartered Bank in Singapore. All funds you send to OANDA Asia Pacific must be deposited in this trust account, and held there in trust for you.

This means that your funds are segregated and maintained separately from OANDA Asia Pacific own funds, and can only be withdrawn as a direct result of your trading-related activities or withdrawal requests. No withdrawals can be made from this account for any OANDA Asia Pacific operations.

I have to admit I'm seriously disappointed in OANDA spreads lately.

Although the bright side is that there quite a lot of interesting exotic currency pairs to trade.
AEsparza

thanks for the info

Quoting AEsparza
This means that your funds are segregated and maintained separately from OANDA Asia Pacific own funds, and can only be withdrawn as a direct result of your trading-related activities or withdrawal requests. No withdrawals can be made from this account for any OANDA Asia Pacific operations.


A_3

put him on your ignore list and he literally disappears
its a fantastic tool for removing "noise"

Quoting A_3
You are absolutely right. He is an idiot and an old fart.
Link to article:

http://blogs.wsj.com/marketbeat/2011...rency-markets/

Oanda to Clients: Stay Out of Currency Markets

By Karen Johnson

Oanda, one of the largest online currency trading platforms for retail investors, has some unusual advice for its customers: Stay out of the market.

“We are encouraging our clients not to trade right now, but to watch the market carefully,” said Michael Stumm, president and chief executive at Oanda, in an interview.

Oanda this week sent an email to its clients, advocating that they move to the sidelines and watch the markets tussle over each new headline out of Europe.

Oanda had over 29,000 U.S. clients at the end of the first quarter, the most of any retail broker, according to the most recent data available from research firm Aite Group.

The brokerage stands to lose revenue if customers heed its warning and trading volume falls. Online trading platforms like Oanda earn money on the spreads between the offering and asking prices in each transaction.

But if Oanda clients stay in the market and lose big, they’ll walk away for good, Stumm said.

“We want them to be with us for the long term,” he said.

Currencies have swung wildly and unpredictably over the last few weeks as European leaders have struggled to agree on a comprehensive fix for the continent’s debt crisis. On Wednesday, the euro traded at $1.3495, up from a one-month low of $1.3429 hit earlier in the day.

“Our analogy is that if there is a storm brewing, you don’t go out in a sailboat if you are an amateur sailor,” Stumm said. “If you are a real professional and have weathered multiple storms, then it might be a lot of fun, and you might get a lot out of it. … And I think the same holds true for the forex markets.”

It’s too soon to say whether clients are heeding Oanda’s advice, said Dean Popplewell, the company’s chief currency strategist.

Currency traders say they are fielding more calls from clients of all types looking for additional guidance on hedging and investment strategies.

“Companies are taking a much closer look at all of their risks,” said Jack Spitz, managing director of foreign exchange, financial markets and derivatives at National Bank in Toronto. “They are spending much more time doing due diligence about tail risks and currency volatility.”

That volatility, Stumm said, is “generally not good” for retail clients.

During the financial crisis in 2008, Oanda saw a substantial drop in trading activity as clients, disappointed by losses or overcome by fear, withdrew from the market.

Oanda is seeing parallels to 2008. Volatility also surged just before the 2008 recession, cautioned Oanda analysts.

This week, seeing no end to the European debt crisis, and the currency market tumult it was causing, Oanda hit “send” on its cautionary email.

– Stephen L. Bernard contributed to this post.
"Dare to live the life you have dreamed for yourself. Go forward and make y
Says a bröker that is run by people who think they know what's best for you, who think they should protect you from your own non-professionalism, and who have supported every new regulatory policy with that agenda.

Oanda should leave it to traders to decide how they wanna trade and instead worry about maintaining and improving their service to the highest standards possible, that's how you keep your clients happy. What people do with their money is none of your business.

PS. This is my opinion and any attempts to attack me just because of it will be ignored.
Quoting Marv
Says a bröker that is run by people who think they know what's best for you, who think they should protect you from your own non-professionalism, and who have supported every new regulatory policy with that agenda.

Oanda should leave it to traders to decide how they wanna trade and instead worry about maintaining and improving their service to the highest standards possible, that's how you keep your clients happy. What people do with their money is none of your business.

PS. This is my opinion and any attempts to attack me just because of...
Try and ignore this attack. Haha! Just kidding. I never got the email, so they must not care about me.

I like the fact they are 'just saying' to their customers be careful. Its not like they are blocking you from trading. I don't see it too much different than a waiter at a restaurant telling me, be careful the plate is very hot as they set it down with an oven mitt.

I agree at the end of the day, it is up to the trader to decide.

Did anyone actually get this email?
Don't wish it were easier, wish you were better. ~ Jim Rohn
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