Oanda

Anyone here use them?

I find their client pretty amazing..apart from the charts. Cant get used to them after using Capital spreads.

Any horror stories / good stories before I put some money down on the fx ^^

Spreads are o.k. , platform good, they widen their spreads on news release final minute running up to the release and narrows depnding when liquidity comes back in. So if you are going to be positioned before news release, allow + 25 (cable) points spread widening .

Otherwise wait til the spread narrows , then you know something liquids coming in.

They offer digital box options too.

By all means make use of their demo accounts, whilst you are attempting to solve the puzzle.

Good forum site too http://fxtrade.oanda.com/resources/forums.shtml

my trading is around economic release data..this might prove a problem hehe.

Are you saying they widen the spreads before news is released..and its widened by 25 points?

Me knowing very little I interpret that as the spread being increased to 25 pips..which surely must be wrong?

pboi said:

my trading is around economic release data..this might prove a problem hehe.

Are you saying they widen the spreads before news is released..and its widened by 25 points?

Me knowing very little I interpret that as the spread being increased to 25 pips..which surely must be wrong?

Click to expand...

On one occassion a few months ago it widened to 200 pips at NFP due to an operator error at their end !

Despite that, I think that for anyone who wants to take a look at FX, Oanda really is the only way to go, but I certainly wouldnt advise trading anywhere near a news release with them.

pboi said:

my trading is around economic release data..this might prove a problem hehe.

Are you saying they widen the spreads before news is released..and its widened by 25 points?

Me knowing very little I interpret that as the spread being increased to 25 pips..which surely must be wrong?

Click to expand...

Wrong ? I can understand it, no liquidity, more risk to the market makers. Is it fair?

i think so, you know the score .

typically before a news release say 20 seconds prior to it, the spread will go ..


5, 8, 10, 15, 25 on the release depending on what news is due out, that will happen in about 20 seconds, then it will come back, again depending on liquidity. sometimes its back in less than 1 minute, sometimes longer. So if you are looking to position on immediate news realease ie 1 or 2 seconds then it will not be suitable for you I'd say.

Like i said if you are not positioned before you would have to wait for the spread to narrow and look to find best value entry.

Not all spreads widen to +25 depends on the news etc. + 10 yes very usual.

Maybe ask FX trade users on the forums, how they tackle trading news release considering the spread issue, they might give you further ideas ..

zupcon said:

On one occassion a few months ago it widened to 200 pips at NFP due to an operator error at their end !

Despite that, I think that for anyone who wants to take a look at FX, Oanda really is the only way to go, but I certainly wouldnt advise trading anywhere near a news release with them.

Click to expand...

Yeah, ive experience a mental blip like that, they did refund the trade. So they are very reasonable if there is a platform error.

I position myself 2-10 minutes before the release of the data. then hold for 15mins or so. maybe longer

25 pips..just wow. Capital spreads have never done that to me, to my knoweldge anyway. I honestly dont know the score...I know very little hehe.

just wow...current spread is 25 points on one and 13 points on the other on OANDA following the 1 o clock news

Capital is steady at 3 points....cant say im too impressed. I havent grasped how this affects my trading, but im guessing it aint good.

pboi said:

I position myself 2-10 minutes before the release of the data. then hold for 15mins or so. maybe longer

25 pips..just wow. Capital spreads have never done that to me, to my knoweldge anyway. I honestly dont know the score...I know very little hehe.

Click to expand...

Well if you are positioned before, then no worries, you should get the normal spread. but you would need to factor in additional spread on your stop.for when the news comes out, If you intend yo use one. You could always reduce size of your trade to downsize risk, allowing for increase volatility /stop (extra spread) .

pboi said:

just wow...current spread is 25 points on one and 13 points on the other on OANDA following the 1 o clock news

Capital is steady at 3 points....cant say im too impressed. I havent grasped how this affects my trading, but im guessing it aint good.

Click to expand...

Eh ? its now 1.2 EUR/USD 2.5 GBP/USD dont forget they quote in pippetes

You'll get the hang of it.

LOL.

what a noob I am. So... its actually 2.5 and 1.2 at release?

damn swapping over from Capital today has rendered me incapable to operate in Pipettes!