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  • #241
  • Dec 30, 2007 9:54am Dec 30, 2007 9:54am
Are you trying to make money... or are you just looking for a place to give it away ???

Come on man... get with the program !!!

Quoting joey122mac
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?
  • #242
  • Dec 30, 2007 9:56am Dec 30, 2007 9:56am
Again... if you ( or anyone ) are getting margin calls.... there is something seriously wrong... and you should STOP... and think about it for a while !!!!

Anyway... this is supposed to be a thread about Oanda.. and I give 4+ stars to oanda...!!! Not perfect... but one of the best out there...
  • #243
  • Dec 30, 2007 10:04am Dec 30, 2007 10:04am
Ok - Point taken-

Twiki - Can you comment on how interest calculated by the second works and if its more pain then not?

I like the idea of having interest taken daily at a specified time - That way I can position myself appropriately.

I normally use USD/JPY and EUR/JPY so interest / carry is important , but lately I ve been going long YEN and I dont want to be paying the interest.
  • #244
  • Dec 30, 2007 10:13am Dec 30, 2007 10:13am
No, I cannot say about the interest by the second or if it is better or worse than interest by some other time frame... but I would suspect by the second is better as long as you are gaining interest rather than paying it...

I keep money in an oanda sub account because it MAKES more interest than I can get at a bank...

Other than that... honestly... I make money by getting pips... I pay interest sometimes... but it is truly not enough to get me worried... we all pay fees in our lives... there are plenty of them in forex... the idea is to make enough pips to more than pay the fees !!!

Quoting joey122mac
Ok - Point taken-

Twiki - Can you comment on how interest calculated by the second works and if its more pain then not?

I like the idea of having interest taken daily at a specified time - That way I can position myself appropriately.

I normally use USD/JPY and EUR/JPY so interest / carry is important , but lately I ve been going long YEN and I dont want to be paying the interest.
  • #245
  • Dec 30, 2007 11:09am Dec 30, 2007 11:09am
i also like Oanda, as a demo trading package so far.
Can you tell me guys if i decide to deposit 1.000 usd for my new live account, how much of it other banks on the way take from it...basically which is the real amount that comes to my account (i am non-us resident, Central Europe)? thanks
  • #246
  • Dec 30, 2007 11:19am Dec 30, 2007 11:19am
If you deposit by paypal... paypal will take 3% and when you withdraw using paypal another 3% This is one of the CONS against oanda... so if you deposit $ 1000 $ 970 goes in to your account...

Quoting forexplorer
i also like Oanda, as a demo trading package so far.
Can you tell me guys if i decide to deposit 1.000 usd for my new live account, how much of it other banks on the way take from it...basically which is the real amount that comes to my account (i am non-us resident, Central Europe)? thanks
  • #247
  • Dec 30, 2007 11:19am Dec 30, 2007 11:19am
I've heard others that have been around for awhile say they are one of the best brokers for retail traders.

I've been using them for quite some time. (Demo and Live)

I've had one issue with a stop being taken out when the price never truly reached the stop level.

That's my only gripe - other than that they've been great.
  • #248
  • Dec 30, 2007 11:57am Dec 30, 2007 11:57am
The spreads are good, but there are just too many price manipulation stories.
Also, they don't let you trade as you wish, scalping & arbitrage are not allowed. The API is ridiculously expensive compared with others which are free and offer more. Perhaps a couple of years ago they were the best but now others offer more for less.
The breaking of a wave cannot explain the whole sea.
  • #249
  • Dec 30, 2007 12:06pm Dec 30, 2007 12:06pm
Quoting Craig
The spreads are good, but there are just too many price manipulation stories.
Also, they don't let you trade as you wish, scalping & arbitrage are not allowed. The API is ridiculously expensive compared with others which are free and offer more. Perhaps a couple of years ago they were the best but now others offer more for less.
Can you name and fame the other brokers who offer more?

I am currently paying 3 pips on EUR/JPY which i thought was quite tight but Oanda is more competitive.

Interesting question : Do onada offer futures? ie GBP/JPY march / June contracts?

Thanks
  • #250
  • Dec 30, 2007 12:08pm Dec 30, 2007 12:08pm
And how can they 'detect' scalping? If you hold a position for a few minutes then is that a problem for the broker?
  • #251
  • Dec 30, 2007 12:09pm Dec 30, 2007 12:09pm
Quoting Tiki Trader
If you deposit by paypal... paypal will take 3% and when you withdraw using paypal another 3% This is one of the CONS against oanda... so if you deposit $ 1000 $ 970 goes in to your account...
This is true, but you always have the Bank Wire option, which is arround $40-$50 comission for the bank, so is more expensive than the Paypal fee (talking about $1,000 account, if your deposit is bigger, then bank might be a better option)

Talking about Oanda, I am with them since november, and at this point I completely agree is one of the better options and regret not having heard Tiki's and many other members comments before; while their platform is damn terrible ugly (for me), everything else is far far better than the other accounts I have, including the one with the biggie we all know.
Ado Whether you believe you can do a thing or not, you are right.
  • #252
  • Dec 30, 2007 12:19pm Dec 30, 2007 12:19pm
Quoting Craig
The spreads are good, but there are just too many price manipulation stories.
Also, they don't let you trade as you wish, scalping & arbitrage are not allowed. The API is ridiculously expensive compared with others which are free and offer more. Perhaps a couple of years ago they were the best but now others offer more for less.
Now I'm concerned for your comment... I scalp and place between 20-30 trades daily that usually last less than a minute, and up to now no problems, and with the cheap spread, for scalping is very good. I've followed Linuxtroll Scalping thread and almost all people there are using Oanda without problem.

Up to the price manipulation, I've noticed it but rarely, and I guess is not an issue exclusively of Oanda. And about the API, yes, I completely agree, they must be nuts to pretend charging that amount.

Hope not having problems for scalping with them in the future if something happens I will let you know.
Ado Whether you believe you can do a thing or not, you are right.
  • #253
  • Dec 30, 2007 12:28pm Dec 30, 2007 12:28pm
Quoting Craig
The spreads are good, but there are just too many price manipulation stories.
Also, they don't let you trade as you wish, scalping & arbitrage are not allowed. .
I've never had any problems.... !!!
  • #254
  • Dec 30, 2007 12:34pm Dec 30, 2007 12:34pm
Yeah... I know about that and you are right... in fact I think one wire per month only costs $15... so someday I will use that option... but with small money when you need it quick, I stick with paypal... I just don't see a reason why we should not be able to whip out our debit card though... !!

Oandas charting sucks a bit... but I just use a free MT4 somewhere and plan the trades from there... then just plug them in at oanda... no biggie...

Oanda still scores 4+ stars with me... and especially because I can trade whatever amount I want even if it is a penny a pip...

Quoting Ado
This is true, but you always have the Bank Wire option, which is arround $40-$50 comission for the bank, so is more expensive than the Paypal fee (talking about $1,000 account, if your deposit is bigger, then bank might be a better option)

Talking about Oanda, I am with them since november, and at this point I completely agree is one of the better options and regret not having heard Tiki's and many other members comments before; while their platform is damn terrible ugly (for me), everything else is far far better than the other accounts I have, including the one with the biggie we all know.
  • #255
  • Dec 30, 2007 12:56pm Dec 30, 2007 12:56pm
Quoting Tiki Trader
Yeah... I know about that and you are right... in fact I think one wire per month only costs $15... so someday I will use that option... but with small money when you need it quick, I stick with paypal... I just don't see a reason why we should not be able to whip out our debit card though... !!

Oandas charting sucks a bit... but I just use a free MT4 somewhere and plan the trades from there... then just plug them in at oanda... no biggie...

Oanda still scores 4+ stars with me... and especially because I can trade whatever amount I want even if it is a penny a pip...
Hi Tikki,

Do you know anything of their account insurance, in case such thing as bankruptcy, earthquake, business going down for whatever reason. what happen to your money if that happens?
'When the student is ready, the teacher will come'
  • #256
  • Dec 30, 2007 12:59pm Dec 30, 2007 12:59pm
I noticed this when I looked - They are not insured ! So you have counterparty risk
  • #257
  • Dec 30, 2007 1:01pm Dec 30, 2007 1:01pm
Quote
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.

You could be right, I'm not really sure because I always use stops now
and dont get anywhere near margin calls. If you're using good
MM/RM the only possible reason you'd need to be concerned about this
is if you actually wanted to place a stop bigger than 200 pips,
which I personally would never do in my trading style.
  • #258
  • Dec 30, 2007 1:09pm Dec 30, 2007 1:09pm
I've always liked Oanda. They are good for carry traders.
  • #259
  • Edited 3:49pm Dec 30, 2007 3:38pm | Edited 3:49pm
Greetings to all who check this post. Especially to Oanda users.

I think it is about time that some trader pressure is put on Oanda to get them to start using TRAILING STOPS.

So if you are a current user, either demo or real, why not use their ' chat ' feature or email feature to put in your request.

If you are NOT a current user, why not send them an inquiry, simply asking about TRAILING STOPS.

Maybe our requests will move them. www.oanda.com This may work better: http://fxtrade.oanda.com/feedback/



Lou
  • #260
  • Dec 30, 2007 4:08pm Dec 30, 2007 4:08pm
What about asking also for a mobile platform, at least something very simple in wap, then we start a forward copying oanda until they get that bothered that shut down our account :.

It's a joke, I was planing to ask them for mobile platform in a mail, but I will add your request also, while I don't use TS, i think every platform should include them.

Ado Whether you believe you can do a thing or not, you are right.
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