Oanda Canada CFDs

VielGeld

Experienced member
1,421 179
Oanda just announced to us Canadians that CFDs are now available to be traded on their platform. I do not know if they are activated in other countries, however.

In any case, would anyone here care to elucidate me on CFDs? Wiki tells me these are like futures, though not traded on an exchange, and they permit higher granularity than regular futures contracts.

I find this incredibly useful as an undercapitalized market participant; I no longer have to worry about blowout from being over-leveraged (unless done on purpose!), and can now trade various indexes and commodities without having to open a futures account or risk a couple $k right there (I get to blow my account half as quickly!). Oanda also has the advantage of no commissions if you're interested in that.

So, would anyone like to chime in on this and perhaps offer some level-headed advice on these derivatives?
 
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