Oanda

[foghorn]

Does anybody trade with Oanda for real? I've been using their demo for a while and I have to say I find the integrated charting/dealing interface quite impressive.

 

[al-motor]

i am thinking about going real- still have not done anything about it-

Their spreads on the EUR/$ and GBP/$ are the lowest i have seen..............They have a low leverage of 30:1, but i think they are due to raise that to 50:1 as of 1st dec

 

[Miki]

A happy (real) trader.

 

[foghorn]

The low leverage is not a real issue for me other than having cash tied up in a US brokerage account that could be sat on high interest or doing other things over this side of the pond.

I like the ability to scale in lots with Oanda from 1 unit of base currency without any real penalties.

My main concern would be funding a US brokerage account from the UK as I've never done that before, particularly in large amounts - anyone have any problems with this?

 

[peto]

what sort of spreads are you getting? I trade forex futures through IB with just one or 2 pip spread on eur/$, but often quite a bit more on other pairs

 

[al-motor]

Peto-

Oanda offers 2 pips on Eur/$ and 3 pips on £/$

I sometimes watch the futures on IB- but the spread could vary alot especially when the futures are closed -

the Forex is much more liquid than the futures as well..........

Al

 

[JER08]

Just tried Oanda's demo, very impressive!

Can anyone share his real trading experience with Oanda?

 

[gfxtrader]

Oanda FxTrade

Hi,

Trading through Oanda with real $$ is a pleasure. I must say charting isn't what I look for, then again, Free charting from other sourses are available. i.e. CMS, MetaTrader from Metaquote.

The most impressive things about trading oanda are,
-Fast Execution even with a Dial-up line.
-Fractional Unit Value, U can trade with very little money, I think this gives me an edge trading with real money i.e. let me tests my Fear factors, MM skills etc while trading.
- Very low pip spread, 2, 3, 4 pips on majorts.

What I dislike about oanda,
-Trading the Monday for the First 6 Hours and Friday evenings aren't possible with oanda, as they change their spread to 10 pips at those hours.
-Charting system should have 10 Min, 30M, 1Hr, 1Wk.
-For charting I need Custom indicators, that cannot be added with them i.e. T3MA's, ZeroLag CCI Crossover etc.

But I think they are improving on this i.e. Charts.

Pls. note this is my personal openion and experience with them.

 

[JER08]

GFXTRADER -

Thanks for the info - much appreciated.

 

[snip]

I have just recently opened a demo account and I'm impressed with the functionality, but not the colours, which are a bit drab.!!

Like gfxtrader, I like the fact that I can manage my money using small amounts rather than the fixed 10k lots with the normal mini account.

Hopefully if I am successful with the demo version then I will want to sign up for a real account... there lies the problem..!! You cannot fund your account cheaply, you have to wire money or use PayPal. Either way it costs you money..

gfxtrader, How did you fund your account.?

Cheers Snip

 

[gfxtrader]

snip :
I've funded my account with a US Bank personal Check. it was cheap But took me about 3 weeks to fund the account!!

I may not do that the next time.
I think wiring funds would be much faster but then again it would cost ya!!

 

[snip]

gfxtrader

I assume you reside in the states if you have a US bank account. I reside in the UK and Oanda do not accept Foreign checks, so I'm f****d, unless there is something I am missing..!!

Cheers Snip

 

[Miki]

It's not so hard, snip.

Just instruct your UK bank to wire the funds to Oanda (see the site for exact details) specifying your Oanda account.