Oanda Fx

Sahil

Junior member
33 0
Hi,

Anyone here trade FX with oanda? I have been using their demo and am about to go live. Just wanted some opinions on any experiences, issues or problems with them? I really liked their demo. Any help appreciated.

Cheers!
:cool:
 

Faris

Active member
143 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...
 

Gordon Gekko

Member
68 4
Sahil said:
Hi,

Anyone here trade FX with oanda? I have been using their demo and am about to go live. Just wanted some opinions on any experiences, issues or problems with them? I really liked their demo. Any help appreciated.

Cheers!
:cool:

They are the dogs danglies in my humble opinion. EURUSD spread of 1.8!!! GBP accounts available. What more do you want? Free money?
 

Sahil

Junior member
33 0
Gordon Gekko 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?

Yea, that's what I thought too! Do you use them at the moment?
 

Gordon Gekko

Member
68 4
Sahil said:
Yea, that's what I thought too! Do you use them at the moment?

Damn right I do Sahil! I've done well these last couple of days on the dollar. Greenspan you da man!
 

JumpOff

1
702 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. :rolleyes:

Well, even on a stupid day I was up +37. so maybe that's not so bad for a beginner. ;)
 

Attachments

  • 3hour_2week.gif
    3hour_2week.gif
    51.4 KB · Views: 1,482
  • 5min.gif
    5min.gif
    68.3 KB · Views: 2,602
Last edited:

Rudy

Junior member
11 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.
 

JumpOff

1
702 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
 

Hittfeld

Well-known member
437 12
>>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
 

JTrader

Guest
5,741 506
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.
 
Last edited:

JTrader

Guest
5,741 506
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.
 
Last edited:

Rudy

Junior member
11 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.
 
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock