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  • #221
  • Nov 16, 2007 10:07am Nov 16, 2007 10:07am
Quoting 3cent
if trend is up oanda will have both bid and ask upmarked

conversely,

if trend is down oanda will have both bid and ask downmarked
Hummm, since I don't have a live account with them I can't speak with proofs, but I doubt what you said can be really done because... which trend is up/down marked? 5 sec. trend? 5 min. trend? 1 hour trend? lots of times all the timeframes are pointing different directions. If we consider that, the trick that Oanda applied to 1 hour trend would benefit the 5 sec. traders if the trends are ponting diferent ways, or viceversa, if they appied the trick to 5 sec. trend, the 1 hour traders could make a big deal.
Ado Whether you believe you can do a thing or not, you are right.
  • #222
  • Nov 16, 2007 10:47am Nov 16, 2007 10:47am
I guess you haven't actually compared the prices to an ECN cause if you had, you'd see your theory is false and certainly doesn't account for the fact that there are many different styles of trading.

Which leads to the point Ado made - how would Oanda possibly manage what trends they need to be upmarking and downmarking.
  • #223
  • Nov 16, 2007 5:19pm Nov 16, 2007 5:19pm
Quoting bugscoe
I guess you haven't actually compared the prices to an ECN cause if you had, you'd see your theory is false and certainly doesn't account for the fact that there are many different styles of trading.

Which leads to the point Ado made - how would Oanda possibly manage what trends they need to be upmarking and downmarking.
your right, there price's or very close to ecn brokers except during news, this guy just made some stuff up.
If I Go Broke Trying Then I Will die happy.
  • #224
  • Dec 29, 2007 5:17pm Dec 29, 2007 5:17pm
Can anyone comment on this broker?

I live in the UK and trade with a different company which has spreads of 3 pips on USD/JPY and EUR/JPY

I also make use of futures on the above pairs and they charge ten pips for this.

The spreads quoted are available 24/7 and I often trade late at night / through the day.

Can anyone confirm whether

1)Oanda offers tight spreads?
2) Tax on your P&L is not taken?
3) Trade execution is good?
4) Margin limits and length of time to pay margin calls
5) FUnds deposited are in the currency of your choice - eg sterling

I did not like the idea of interest being received / paid on a second by second basis! This is the first company I have heard which does this

Thanks to all for advice on this
  • #225
  • Dec 29, 2007 5:28pm Dec 29, 2007 5:28pm
Quoting PipStar
30 pips slippage is an aberration, my friend.

there are FAR worse than that out there...cough FXDD cough....
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #226
  • Dec 29, 2007 6:46pm Dec 29, 2007 6:46pm
I use Oanda and I can say that they do have excelent trade execution and the spread is on most pairs is reasonable, the E/U spread is usually at 0.9 pips. My only complaint is the lack of trailing stop and limited indicators on the charts. But how many indicators does one need anyway, too many just clutter up the screen just my opinion. I just wish they had a few more to choose from other than that I have been very happy with them.

Heny
  • #227
  • Dec 29, 2007 7:30pm Dec 29, 2007 7:30pm
Overall , absolutely wonderful!!!

a few minor weak points:

1. no trailing stops
2. so-so charting package
3. occasionally problem connecting

tight spreads, yes...the tightest.
no tax taken
good trade execution
don't know about margin - i think if you margin out a trade, it gets taken immediately
don't know about funds deposited in any currency, ask them.
  • #228
  • Dec 30, 2007 4:19am Dec 30, 2007 4:19am
I'd be interested in hearing more about how Oanda deals with margin calls...

rudenstein
  • #229
  • Dec 30, 2007 8:33am Dec 30, 2007 8:33am
Before I started using stoplosses religiously as I do now ,
I had at least 1 or 2 margin calls.

I may be missing a few details, but
basically, my understanding of it is as follows:

Say you have $1000 in your account and 50:1 Leverage.
If you put the entire account balance into a trade,
you would be dealing with $5/pip.

Now say, in the interest of common sense, that
you don't do this, but instead commit $200 of
your account to a trade. That's $1/pip
(at least on EUR/USD, lets keep this simple).

Your account would then show margin used: $200 and
available margin $800.

Say you dont use a stoploss, the position goes against
you. Your position would automatically be liquidated
after 200 pips, (when your used margain is used up).

You would lose your $200, and you'd
still have $800 in your account.
  • #230
  • Dec 30, 2007 8:45am Dec 30, 2007 8:45am
Are you sure about this ?

Seems strange that they would liquidate you without posting a margin call and offering you a chance to add funds?

In the UK this is done and they give you three days to make the payment
  • #231
  • Dec 30, 2007 8:49am Dec 30, 2007 8:49am
I can't say i'm 100% sure but I dont recall Oanda ever contacted me
before closing one of my positions that I just let go the wrong way.

You can always chat with their customer service , who are
on 24/5 and very helpful.
  • #232
  • Dec 30, 2007 8:58am Dec 30, 2007 8:58am
Wouldn't it just be better to plan NOT to be getting margin calls...??? You will never be a forex trader if you are getting margin calls... OK, I would allow you ONE margin call if you are a total newbie... after that, it should be lesson learned... doesn't matter what broker...!!

Quoting rudenstein
I'd be interested in hearing more about how Oanda deals with margin calls...

rudenstein
  • #233
  • Dec 30, 2007 9:01am Dec 30, 2007 9:01am
Hopefully YOU would never ever do anything like what you have said here, and this was just an example....

Trading responsibly and with any thought to having a future in forex trading means you are hopefully never risking more than 1-3% at a time...

Quoting ChesterB
Before I started using stoplosses religiously as I do now ,
I had at least 1 or 2 margin calls.

I may be missing a few details, but
basically, my understanding of it is as follows:

Say you have $1000 in your account and 50:1 Leverage.
If you put the entire account balance into a trade,
you would be dealing with $5/pip.

Now say, in the interest of common sense, that
you don't do this, but instead commit $200 of
your account to a trade. That's $1/pip
(at least on EUR/USD, lets keep this simple).

Your account would then show margin used: $200 and
available margin $800.

Say you dont use a stoploss, the position goes against
you. Your position would automatically be liquidated
after 200 pips, (when your used margain is used up).

You would lose your $200, and you'd
still have $800 in your account.
  • #234
  • Dec 30, 2007 9:10am Dec 30, 2007 9:10am
How many times has this happened to you ? That your positions are closed by the broker ?? That's a margin call....!!! And believe me... you GOT their message when they closed down your trade !!! And THEY got your money !!!

And if you can't figure it out on your own... on that little screen right there to the left, with all your account info in it.... it tells you at what balance left in your account that they will give you a margin call...!!! Not to mention that in the TERMS of service or whatever it is they have and that you SHOULD read.... they explain exactly how when and where they are going to take your money... oops... I mean give you a margin call.....!!!

Hey guys... I am not trying to be mean here... but if margin calls are so big on your list... the problem is not with the broker... it is you...!!

Quoting ChesterB
I can't say i'm 100% sure but I dont recall Oanda ever contacted me
before closing one of my positions that I just let go the wrong way.

You can always chat with their customer service , who are
on 24/5 and very helpful.
  • #235
  • Dec 30, 2007 9:12am Dec 30, 2007 9:12am
Quoting ChesterB
Before I started using stoplosses religiously as I do now ,
I had at least 1 or 2 margin calls.

I may be missing a few details, but
basically, my understanding of it is as follows:

Say you have $1000 in your account and 50:1 Leverage.
If you put the entire account balance into a trade,
you would be dealing with $5/pip.

Now say, in the interest of common sense, that
you don't do this, but instead commit $200 of
your account to a trade. That's $1/pip
(at least on EUR/USD, lets keep this simple).

Your account would then show margin used: $200 and
available margin $800.

Say you dont use a stoploss, the position goes against
you. Your position would automatically be liquidated
after 200 pips, (when your used margain is used up).

You would lose your $200, and you'd
still have $800 in your account.
You have this just backwards. The will let your position go against you $900 and close the position as soon as your net ballance hits $100 (100:1 leverage) This part is a bit weird, they will only let you open positions at 50:1 leverage but the will let them go against you to 100:1. Open a demo and test this, it works the same on a real account.
  • #236
  • Dec 30, 2007 9:13am Dec 30, 2007 9:13am
Which forex broker allows you to do this...??? And why are you getting into the position to have to do this anyway !!! ??? Actually I don't believe you !!!

Quoting joey122mac
Are you sure about this ?

Seems strange that they would liquidate you without posting a margin call and offering you a chance to add funds?

In the UK this is done and they give you three days to make the payment
  • #237
  • Dec 30, 2007 9:30am Dec 30, 2007 9:30am
Quoting Tiki Trader
Which forex broker allows you to do this...??? And why are you getting into the position to have to do this anyway !!! ??? Actually I don't believe you !!!
Well if you ask politely I ll be happy to share - No need not to believe

IG Index in the UK do exactly this - You have three days to post margin unless its over 10K sterling in which case it is same day

WHats wrong with having a margin call - Provided you have funds on account with your bank that you can put up there is nothing wrong with this.

I agree it is wrong if you have a margin call and cant pay!

That then sucks
  • #238
  • Dec 30, 2007 9:46am Dec 30, 2007 9:46am
What's wrong with you getting a margin call ??? NOTHING... give me a PM and I'll send you my address... just send the money directly to me instead...!!!

Getting a margin call not only shows that your trade went drastically wrong... but that you do not know how to trade... why to trade... or how to protect yourself from yourself.... the broker had to do it for you...

Quoting joey122mac
Well if you ask politely I ll be happy to share - No need not to believe

IG Index in the UK do exactly this - You have three days to post margin unless its over 10K sterling in which case it is same day

WHats wrong with having a margin call - Provided you have funds on account with your bank that you can put up there is nothing wrong with this.

I agree it is wrong if you have a margin call and cant pay!

That then sucks
  • #239
  • Dec 30, 2007 9:48am Dec 30, 2007 9:48am
Ok, yes... and I am asking politely... wishing you only the best and most pips... but why would you ever let yourself get into the position of getting a margin call ???

Quoting joey122mac
Well if you ask politely I ll be happy to share - No need not to believe

IG Index in the UK do exactly this - You have three days to post margin unless its over 10K sterling in which case it is same day

WHats wrong with having a margin call - Provided you have funds on account with your bank that you can put up there is nothing wrong with this.

I agree it is wrong if you have a margin call and cant pay!

That then sucks
  • #240
  • Dec 30, 2007 9:48am Dec 30, 2007 9:48am
Quoting Tiki Trader
What's wrong with you getting a margin call ??? NOTHING... give me a PM and I'll send you my address... just send the money directly to me instead...!!!

Getting a margin call not only shows that your trade went drastically wrong... but that you do not know how to trade... why to trade... or how to protect yourself from yourself.... the broker had to do it for you...
I mean this sincerely - But instead of having 100k on account you have 20 k and add as needed and withdraw when not required.

Do you not see this?
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