Faris
Active member
- Messages
- 143
- Likes
- 1
Hello Sahil.
Iv used Oanda before, found no problems with them.
I didn't stay with them too long as at the time of using them i was just starting out and did not like the charting options that were available through them.
I now use FXCM and AC-MARKETS.
Happy Trading
Faris...
Iv used Oanda before, found no problems with them.
I didn't stay with them too long as at the time of using them i was just starting out and did not like the charting options that were available through them.
I now use FXCM and AC-MARKETS.
Happy Trading
Faris...
Gordon Gekko
Member
- Messages
- 69
- Likes
- 5
Sahil said:
They are the dogs danglies in my humble opinion. EURUSD spread of 1.8!!! GBP accounts available. What more do you want? Free money?
Gordon Gekko
Member
- Messages
- 69
- Likes
- 5
Sahil said:
Damn right I do Sahil! I've done well these last couple of days on the dollar. Greenspan you da man!
JumpOff
1
- Messages
- 702
- Likes
- 14
I've been paper trading with their demo game for a couple of weeks. I like the fact that I can preset my stop, and order bounds in the preferences, so that when I see what I want, I can just click and get in. I'm thinking they might be a good "proof of concept" spot for sample test trading with real money. Long term, I'd prefer a regulated futures broker.
Here's what I was doing with Oanda today. I still need to learn how to sit on my hands! I went to the effort to document all my stupid mistakes today, just so I can remind myself not to do it again!.
I left 1/2 my profits on the table (see trade group 1,2,and 3), just from jumping off the diving board when I should have stayed on the side!
JO.
The first chart is a 3hour chart that covers the last two weeks. The other chart is a 5 minute, and shows all the ugly details. 🙄
Well, even on a stupid day I was up +37. so maybe that's not so bad for a beginner. 😉
Here's what I was doing with Oanda today. I still need to learn how to sit on my hands! I went to the effort to document all my stupid mistakes today, just so I can remind myself not to do it again!.
I left 1/2 my profits on the table (see trade group 1,2,and 3), just from jumping off the diving board when I should have stayed on the side!
JO.
The first chart is a 3hour chart that covers the last two weeks. The other chart is a 5 minute, and shows all the ugly details. 🙄
Well, even on a stupid day I was up +37. so maybe that's not so bad for a beginner. 😉
Attachments
Last edited:
Rudy
Junior member
- Messages
- 11
- Likes
- 0
I trade with them since april 2004 and so far I am very satisfied with their order execution.
The trade platform is very user friendly. It is possible to enter and to modify orders directly from the charts.
And very positive is of coarse the 1.8 pip spread on EUR/USD.
I use another system for data analysis because their platform has little possibilities in that respect.
The trade platform is very user friendly. It is possible to enter and to modify orders directly from the charts.
And very positive is of coarse the 1.8 pip spread on EUR/USD.
I use another system for data analysis because their platform has little possibilities in that respect.
Gordon Gekko
Member
- Messages
- 69
- Likes
- 5
henry766 said:
Yes
JumpOff
1
- Messages
- 702
- Likes
- 14
Darn, - I did it again. Entered a position when the primary oanda screen was hidden by another window. - Was surprised to see my entry triangle 10 pips above where I expected, -sure enough, Oanda has widened the EUR/USD spread to 10 pips. I can't figure out why - nothing special going on. Aaargh, I've got to add "confirm the spread" to my take off check list.
JO
JO
>>Oanda has widened the EUR/USD spread to 10 pips. I can't figure out why - nothing special going<<
Its the weekend spread: From fridays closing of futures markets to mondays opening the spread is widened to 10 pips.
Just read the docs.
Hittfeld
Its the weekend spread: From fridays closing of futures markets to mondays opening the spread is widened to 10 pips.
Just read the docs.
Hittfeld
JTrader
Guest
- Messages
- 5,741
- Likes
- 507
Oanda interest charges on positions held
http://fxtrade.oanda.com/fxtrade/interest_calculation.shtml
Hi
I was delighted to learn of Oanda's 1.8-2 pip spreads on EURUSD. However, I have just learnt about how oanda charge interest on positions held during the previous 24 hours on a second by second basis. Most retail brokers charge when a position is held overnight..............As a strictly intraday trader - I do not intend to hold positions overnight and would therefore prefer an overnight rollover charge (as seen as I will not make use of the overnight facility 🙂 )........................I'm wondering how significant these interest charges will be in helping Oanda add to their 1.8-2 pip spread profit (and in effect increase the real charge of the transaction - further towards 3 pips), and how much of more beneficial the 1.8-2 pip spread is for an intraday trader, once the interest has been added, - over other retail brokers 3 pip EURUSD spread?
It seems that there is always a catch, when you are seemingly offered a better deal. 🙁
This interest charged/payed out by the second policy - seems to complicate the Oanda service and would be one more thing for the Oanda client to have to check and be concerned with.
Does anyone have any direct experience and opinion of this?
Many thanks
jtrader.
http://fxtrade.oanda.com/fxtrade/interest_calculation.shtml
Hi
I was delighted to learn of Oanda's 1.8-2 pip spreads on EURUSD. However, I have just learnt about how oanda charge interest on positions held during the previous 24 hours on a second by second basis. Most retail brokers charge when a position is held overnight..............As a strictly intraday trader - I do not intend to hold positions overnight and would therefore prefer an overnight rollover charge (as seen as I will not make use of the overnight facility 🙂 )........................I'm wondering how significant these interest charges will be in helping Oanda add to their 1.8-2 pip spread profit (and in effect increase the real charge of the transaction - further towards 3 pips), and how much of more beneficial the 1.8-2 pip spread is for an intraday trader, once the interest has been added, - over other retail brokers 3 pip EURUSD spread?
It seems that there is always a catch, when you are seemingly offered a better deal. 🙁
This interest charged/payed out by the second policy - seems to complicate the Oanda service and would be one more thing for the Oanda client to have to check and be concerned with.
Does anyone have any direct experience and opinion of this?
Many thanks
jtrader.
Last edited:
JTrader
Guest
- Messages
- 5,741
- Likes
- 507
I notice that IG Markets charge interest in the same way as Oanda.
Also -
on a different thread I read that both http://www.odlsecurities.com and http://www.igmarkets.com offered a 2 pip spread on EURUSD. However, from looking at the websites I see no evidence of this. Does anyone know if these retail forex brokers or any other retail forex brokers offer a 2 pip spread on EURUSD, or a EURUSD spread that is less than 3 pips?
Many thanks
jtrader.
Also -
on a different thread I read that both http://www.odlsecurities.com and http://www.igmarkets.com offered a 2 pip spread on EURUSD. However, from looking at the websites I see no evidence of this. Does anyone know if these retail forex brokers or any other retail forex brokers offer a 2 pip spread on EURUSD, or a EURUSD spread that is less than 3 pips?
Many thanks
jtrader.
Last edited:
Rudy
Junior member
- Messages
- 11
- Likes
- 0
It's true that interest is calculated per second. In my experience the interest payed was always such a little amount that it did not influence my profit / loss to any extend.
And, you do not only pay interest, you also receive interest of the currency you are short in. So what you actually pay is the difference which is appr 4% (libor -2 against libor +2).
Suppose you have an EURUSD order of $130.000 (appr $10 / pip) which was open for 2 hours.
Interest 4% / 365 / 24 * 2 would be something like $ 1.18. which equals to 0.118 pips. Still a good deal.
And, you do not only pay interest, you also receive interest of the currency you are short in. So what you actually pay is the difference which is appr 4% (libor -2 against libor +2).
Suppose you have an EURUSD order of $130.000 (appr $10 / pip) which was open for 2 hours.
Interest 4% / 365 / 24 * 2 would be something like $ 1.18. which equals to 0.118 pips. Still a good deal.
JTrader
Guest
- Messages
- 5,741
- Likes
- 507
Thanks Rudy
If your equation is correct - then even if I were to hold a position in EURUSD for 8 hours - this would only equal 0.47 pips extra. If I were t do 5-6 round turns per day - the average additional charge on top of 1.8-2 pips would only be < 0.1 pips. This sounds reasonable!
Cheers
jtrader.
If your equation is correct - then even if I were to hold a position in EURUSD for 8 hours - this would only equal 0.47 pips extra. If I were t do 5-6 round turns per day - the average additional charge on top of 1.8-2 pips would only be < 0.1 pips. This sounds reasonable!
Cheers
jtrader.
JTrader
Guest
- Messages
- 5,741
- Likes
- 507
Hi
the Oanda forex trading platform is a web browser based java platform - as opposed to a trading platform that you have to download and install.
Oanda seem to view this as a benefit - as they state on their website "Truly Internet-based, no software to download".
Howeve, on another branch I have been informed that a downloadable platform (that sits on your pc as an application) will be more stable and faster than any java/web based solution.
For those of you with experience of using the Oanda trading platform - how do you rate it? is it reliable? has it been problematic, and if so - in what way/s? - how often does it freeze etc. - meaning that you have to exit it and log back in?
Many thanks
jtrader.
the Oanda forex trading platform is a web browser based java platform - as opposed to a trading platform that you have to download and install.
Oanda seem to view this as a benefit - as they state on their website "Truly Internet-based, no software to download".
Howeve, on another branch I have been informed that a downloadable platform (that sits on your pc as an application) will be more stable and faster than any java/web based solution.
For those of you with experience of using the Oanda trading platform - how do you rate it? is it reliable? has it been problematic, and if so - in what way/s? - how often does it freeze etc. - meaning that you have to exit it and log back in?
Many thanks
jtrader.
if you register onto the forum jtrader, there's a thread or two highlighting the pro's & cons of Oanda's platform. might offer a bit more info - no doubt they'll be able to shed a little more light.
http://www2.oanda.com/cgi-bin/msgboard/ultimatebb.cgi
http://www2.oanda.com/cgi-bin/msgboard/ultimatebb.cgi
JTrader
Guest
- Messages
- 5,741
- Likes
- 507
Thanks Buk
from reading through a couple of the threads on the Oanda forum it does seem that Oanda's FXTrade platform experiences it's share of problems.
It is however, of credit to Oanda that they enable clients to communicate with each other in this way. Having opinions that are potentially damaging to Oandas reputation - on the Oanda forums - does seem to show that there is a level of openness and honesty at Oanda.
Cheers
jtrader.
from reading through a couple of the threads on the Oanda forum it does seem that Oanda's FXTrade platform experiences it's share of problems.
It is however, of credit to Oanda that they enable clients to communicate with each other in this way. Having opinions that are potentially damaging to Oandas reputation - on the Oanda forums - does seem to show that there is a level of openness and honesty at Oanda.
Cheers
jtrader.
Spreads - 3 pips in the EUR/USD
Extended Trading Hours - Start Trading on Sundays at 17:30
Free Professional Charting Select Your Leverage: 50:1, 100:1, 200:1, 250:1, 300:1, 400:1
Full Hedge Capability
24 Hour Support
http://www.proedgefx.com/gp_demoreg.aspx?ref=JBAR
Extended Trading Hours - Start Trading on Sundays at 17:30
Free Professional Charting Select Your Leverage: 50:1, 100:1, 200:1, 250:1, 300:1, 400:1
Full Hedge Capability
24 Hour Support
http://www.proedgefx.com/gp_demoreg.aspx?ref=JBAR
