Retail forex- Oanda or FXCM?

TAjammy

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If i wanted to open a forex retail trading account, just for GBPUSD
then what would be best? which firm has the lowest/most consistent spread on cable?
how quick is the execution ? is there much slippage? good charting on micro accounts? good execution platform (MT4?)?

thanks
 
No idea about FXCM

Oanda - spread is 1.8, goes to about 2.5 overnight, slightly wider at the very quiet time. Opens to about 15 over important data. Execution is best i've experienced, MT4 is crap (at least alpari was). Charting's fine.
 
So long as you don't try trade news with a tight stop you'll be ok. If you have a tight stop it's very possible you might get stopped out as the spread opens.
 
Opens to about 15 over important data.

Apart from the one time when some numpty with a fat finger accidentally set the spread to over 200 on NFP ! although I have to admit I was extremely impressed with how that situation was handled.
 
so oanda has fast execution, decent spread bar on news and some ok charts.

FXCM's cable spread is 3 pips so that's 1+ pips more than oanda and i'm daytrading so that could add up. Oanda seems to be the way to go.
 
I'm on Oanda only because I have a Mac. The charting could be better, but execution is good
 
tbh, all I need for a chart is some candles and something easy on the eyes. Oanda does this. I don't use a load of indicators and draw a bunch of lines on (I have tried some trend lines and they seemed easy enough.) It seems to have most of the indicators that is standard to MT4.
 
i don't really love MT4 i've just got very used to it.

If i want to hold an short position for 2 days, what is the rollover charge?
 
I like it, I was just assuming MT4 was better, if it is in fact not, I would be fine with keeping Oanda. I would like alarms though
 
so oanda has fast execution, decent spread bar on news and some ok charts.

FXCM's cable spread is 3 pips so that's 1+ pips more than oanda and i'm daytrading so that could add up. Oanda seems to be the way to go.

Spreads on the FXCM Micro account for GBP/USD are averaging 1.5-1.8 right now. They are variable.
 
What could of mug would give their business to a broker that offers 200:1 leverage? Oanda is the only bucketshop I know (please educate me if there are others) that limits their account leverage to reasonable levels, it says all you need to know.
 
actually im swing trading again so 1 or two pips here or there isnt going to add up much. what i dont want is a hefty fee slapped on to wire money into and out of my account, i want reliable execution,lol. i want to be able to set take profit and stop loss orders before a trade has even been filled.
 
What could of mug would give their business to a broker that offers 200:1 leverage? Oanda is the only bucketshop I know (please educate me if there are others) that limits their account leverage to reasonable levels, it says all you need to know.


What difference does it really make to real traders?I used the same leverage at Oanda and at other brokers.No more than 30 to 1.

Forget the idiots who leverage 200 to 1, they are not traders .
 
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