Which tool is best for the job? OandA

WorAl

Newbie
6 0
Hi everyone, I've not began trading properly for my own profit however I have been using practice accounts on and off on OandA.

Before sinking tens of pounds of my own hard earned premium quality bank notes, I'd like to ask a few questions.

Firstly, is OandA a good platform to begin with? It seems easy to use, but are there better options out there that give a smaller spread and easier to cash in on?

Secondly, how much do OandA actually charge for using their site? They have to make money some how, how do they do it? On the practice accounts it seems straight forward, you set a target to buy low and a target to sell high, when they're reached you get your money, I've been making around 20-25% a day on 100k practice account so far.

But surely it can't be as simple as that? All I've found so far is that you get charged £25 per withdrawal transaction and that's all? Don't they take a percentage of the profits?

Any help would be appreciated as I'd like to sink my teeth into this and get rolling in the dough. :cheesy:
 

perox

Member
87 0
Hi everyone, I've not began trading properly for my own profit however I have been using practice accounts on and off on OandA.

Before sinking tens of pounds of my own hard earned premium quality bank notes, I'd like to ask a few questions.

Firstly, is OandA a good platform to begin with? It seems easy to use, but are there better options out there that give a smaller spread and easier to cash in on?

Secondly, how much do OandA actually charge for using their site? They have to make money some how, how do they do it? On the practice accounts it seems straight forward, you set a target to buy low and a target to sell high, when they're reached you get your money, I've been making around 20-25% a day on 100k practice account so far.

But surely it can't be as simple as that? All I've found so far is that you get charged £25 per withdrawal transaction and that's all? Don't they take a percentage of the profits?

Any help would be appreciated as I'd like to sink my teeth into this and get rolling in the dough. :cheesy:

You can get the answers from Oanda website for all the questions asked here.
They earn profit mostly from spread. No hidden charges. But there is a swap charges if you gonna hold position beyond day 01.

Withdrawal charges correct if you gonna make a wire. But you can choose MB or Paypal.
 
 
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