Oanda vs FOREX.com vs any other broker for US clients | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

VennD - Any Pairs - Any Style - Any Time 741 replies

Please help looking for fx broker other than Oanda 7 replies

Other source for UBS FX Research other than Oanda? 2 replies

Alapri 30 pips spread on EU before news! Any other broker, did it? 6 replies

MICRO-LOT broker you already used/will choose,Oanda,FxSol,I nterbankFx,FXDD,EFX, other? 24 replies

Attachments: Oanda vs FOREX.com vs any other broker for US clients
Exit Attachments

Oanda vs FOREX.com vs any other broker for US clients

  • #1
  • First Post: Feb 23, 2017 2:02pm Feb 23, 2017 2:02pm
I'm an FXCM client who is being shipped to FOREX.com this weekend. I was wondering if I should stay with FOREX.com or switch to Oanda (or any other). All opinions welcome.
  • #2
  • Feb 23, 2017 2:39pm Feb 23, 2017 2:39pm
Quoting FlyingTurtle
I'm an FXCM client who is being shipped to FOREX.com this weekend. I was wondering if I should stay with FOREX.com or switch to Oanda (or any other). All opinions welcome.
Other. CME.
  • #3
  • Feb 23, 2017 2:43pm Feb 23, 2017 2:43pm
CME is futures, not forex, right?
  • #4
  • Feb 23, 2017 2:52pm Feb 23, 2017 2:52pm
Quoting FlyingTurtle
CME is futures, not forex, right?
Yes, and only an option if you trade low lot size.
  • #5
  • Feb 23, 2017 2:56pm Feb 23, 2017 2:56pm
I am also a US newbie looking for a broker that has;
- NFA/ CFTC security
- 10 p per pip
- Reasonable withdrawal limits
- Successful trading fills
- solid charting package

Would like recommendations please!
  • #6
  • Feb 23, 2017 3:08pm Feb 23, 2017 3:08pm
Quoting Dkam
{quote} Yes, and only an option if you trade low lot size.
Thanks for the option, but that isn't an option for me in particular. I want a broker that mostly mirrors FXCM. Binary options, futures, options, etc isn't what I'm after, though some may prefer them.
  • #7
  • Feb 23, 2017 3:25pm Feb 23, 2017 3:25pm
Quoting FlyingTurtle
{quote} Thanks for the option, but that isn't an option for me in particular. I want a broker that mostly mirrors FXCM. Binary options, futures, options, etc isn't what I'm after, though some may prefer them.
ATC Brokers might be interesting.
  • #8
  • Feb 23, 2017 4:43pm Feb 23, 2017 4:43pm
I'm now with Oanda, and the spreads are high (see comments in the Oanda thread). But I have to say that Oanda's executions are decent thus far, likely because of the new engine that they recently implemented. From what I have read about forex.com, I am staying away, but I would like to hear others' views. I am now looking at trying MT5 on AMP futures (only futures broker I know of that offers free metatrader).
  • #9
  • Feb 23, 2017 5:38pm Feb 23, 2017 5:38pm
Trading with Forex.com means sleeping with one eye open...in my experience, they hunted down my stop losses a grotesque number of times....they would have these CRAZY spikes out of nowhere, spreads would widen BEYOND the normal threshold as compared to ANY other broker I've ever known....I called them out on it so many times it's not even funny. I would NEVER go back to Forex.com or any GAIN capital related company.....I think it's a shame that Manchester City FC would lend their name to this broker....
  • #10
  • Feb 23, 2017 7:17pm Feb 23, 2017 7:17pm
Quoting meyoik
Trading with Forex.com means sleeping with one eye open...in my experience, they hunted down my stop losses a grotesque number of times....they would have these CRAZY spikes out of nowhere, spreads would widen BEYOND the normal threshold as compared to ANY other broker I've ever known....I called them out on it so many times it's not even funny. I would NEVER go back to Forex.com or any GAIN capital related company.....I think it's a shame that Manchester City FC would lend their name to this broker....
That's similar to my experience with them back in 2010, but figured by now they could be different.

FXCM would hunt SL too and I have a folder of screenshots documenting it on the tick charts (which I loved about Trading Station). I think they all stop-hunt.

I'm pretty sure GAIN was the only broker to make a profit on the Franc Peg break and the reason for that is they trade so heavily against their clients. FXCM didn't have the hedge that GAIN had and consequently went under. My opinion is that FXCM learned their lesson from that and began trading against their clients, then got in trouble for it. Ironic that the real "criminal" is GAIN while the most moral of the 3 was banned.

Anyway, I'm left with 2 evils from which to choose. So far, it seems one is as good as another. I even chatted with the reps from each broker and neither had any idea why I should choose them.
  • #11
  • Feb 23, 2017 7:19pm Feb 23, 2017 7:19pm
Quoting nonlinear
I'm now with Oanda, and the spreads are high (see comments in the Oanda thread). But I have to say that Oanda's executions are decent thus far, likely because of the new engine that they recently implemented. From what I have read about forex.com, I am staying away, but I would like to hear others' views. I am now looking at trying MT5 on AMP futures (only futures broker I know of that offers free metatrader).
What did you read about forex.com? The oanda thread is huge!
  • #12
  • Feb 23, 2017 7:25pm Feb 23, 2017 7:25pm
Quoting FlyingTurtle
{quote} That's similar to my experience with them back in 2010, but figured by now they could be different. FXCM would hunt SL too and I have a folder of screenshots documenting it on the tick charts (which I loved about Trading Station). I think they all stop-hunt. I'm pretty sure GAIN was the only broker to make a profit on the Franc Peg break and the reason for that is they trade so heavily against their clients. FXCM didn't have the hedge that GAIN had and consequently went under. My opinion is that FXCM learned their lesson from that and began...
As for your other broker on the list....not looking too hot either, Daniel Skowronski is yet another Oanda CEO resigning in less than 2 months:

http://www.leaprate.com/news/forex/b...-ceo-oanda-uk/
  • #13
  • Feb 23, 2017 7:32pm Feb 23, 2017 7:32pm
Quoting meyoik
{quote} As for your other broker on the list....not looking too hot either, Daniel Skowronski is yet another Oanda CEO resigning in less than 2 months: http://www.leaprate.com/news/forex/b...-ceo-oanda-uk/
I wonder why everyone is bailing from Oanda in such a stampede. I think they have the cleanest record on the BBB.
  • #14
  • Feb 27, 2017 4:06am Feb 27, 2017 4:06am
I called FOREX.com to ask a few questions, one of them being why my entry order didn't execute after the price passed it. The guy verified the error, but couldn't explain it. He said it's very rare, but these things happen and I always have the option to file a claim. I asked what the odds were that this would happen on my very first trade. He said he didn't have enough data to calculate the odds.
  • #15
  • Feb 27, 2017 4:15am Feb 27, 2017 4:15am
Quoting FlyingTurtle
I called FOREX.com to ask a few questions, one of them being why my entry order didn't execute after the price passed it. The guy verified the error, but couldn't explain it. He said it's very rare, but these things happen and I always have the option to file a claim. I asked what the odds were that this would happen on my very first trade. He said he didn't have enough data to calculate the odds.
once the u.s. regulators start to investigate forex.com thery will find out there worst then FXCM and they too will be out in the u.s.a leaving us with one broker
  • #16
  • Feb 27, 2017 8:12am Feb 27, 2017 8:12am
Good morning everyone.

I was one who had my account switched from FXCM to Forex.com, this morning I noticed that the bid/ask prices on the charts do NOT match what is seen in the Marketwatch window.

I placed a small long trade and it executed at the marketwatch price and closed at the marketwatch price. But if want your charts to match the marketwatch then you are out of luck.

I guess I will now have to open an account with Oanda as I prefer to have charts that match the marketwatch prices.

Obviously, if you trade on longer time frame charts this may not be a factor, but if you trade on 15m or less I think you will see a noticeable difference in the charts.

Good luck to all.

1greyfox
  • #17
  • Feb 27, 2017 2:23pm Feb 27, 2017 2:23pm
Quoting 1greyfox
Good morning everyone. I was one who had my account switched from FXCM to Forex.com, this morning I noticed that the bid/ask prices on the charts do NOT match what is seen in the Marketwatch window. I placed a small long trade and it executed at the marketwatch price and closed at the marketwatch price. But if want your charts to match the marketwatch then you are out of luck. I guess I will now have to open an account with Oanda as I prefer to have charts that match the marketwatch prices. Obviously, if you trade on longer time frame charts this...
Let us know how it goes with Oanda, and good luck
  • #18
  • Feb 27, 2017 3:03pm Feb 27, 2017 3:03pm
Quoting PoundTrader
{quote}once the u.s. regulators start to investigate forex.com thery will find out there worst then FXCM and they too will be out in the u.s.a leaving us with one broker
then oanda will get greedy knowing it's the only player left, start to raise spreads even more and the they get kicked out for screwing people over then what?

forex is dead in the US
  • #19
  • Feb 28, 2017 8:18am Feb 28, 2017 8:18am
Quoting hilmy83
{quote} then oanda will get greedy knowing it's the only player left, start to raise spreads even more and the they get kicked out for screwing people over then what? forex is dead in the US

you took ur acc to over 200k then u hit a loosing spree, damn, how do u wake up in the morning, id be shattered
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #20
  • Feb 28, 2017 10:07am Feb 28, 2017 10:07am
Quoting hilmy83
{quote} then oanda will get greedy knowing it's the only player left, start to raise spreads even more and the they get kicked out for screwing people over then what? forex is dead in the US

This is actually what I foresee to happen too, but if they would be wise & follow the law along with providing
good customer service they would have the whole house all to themselves. Yes in a perfect world maybe that would
happen. Time will tell.
0 traders viewing now