OANDA Discussion

anybody noticed newly added pairs at fxtrade?

Posted by Nash Wadud at the following kink:

http://forexmagnates.com/oanda-adds-...currency-pairs

Oanda adds more currency pairs

Oanda is the latest broker to offer new FX products after the introduction of the USD/BRL at Saxo and the Dow Jones FXCM Dollar index. Demand for emerging currencies from retail traders tends to peak during times of uncertainty which we have seen a lot of in 2011. Traders want to take advantage of volatility generated during uncertain times or earn interest using the carry trade strategy. While Oanda is not the first broker to offer traders access to these pairs, traders at Oanda will be able to take advantage of Oanda’s unique second by second rollover interest policy. An attractive feature of exotics: rollover paid out tends to be higher in exotic currencies.

Oanda’s local office in Singapore and the appreciation of the SGD during the past year has fueled the demand for the SGD pairs. It remains to be seen if Oanda will introduce currency pairs from the Middle East, given their presence in Dubai and the volatility in the region. Oanda currently offers the USD/CNY and the USD/INR which it most likely hedges through NDF’s. I think it is likely that Oanda will also introduce pairs such as BRL and RUB. Without mentioning any specifics, Paul Jeszensky, head of marketing at Oanda, commented, “It is likely there will be more currency pairs coming soon for traders on the Oanda platform.”

All in all, this is certainly a good move by Oanda given the political and economic climate of the world and I expect to see similar announcements from other major brokers this year.

OANDA Corporation, provider of innovative online foreign exchange trading, has added seven more currency cross pairs to its online forex trading platform, OANDA fxTrade. The new pairs are CAD/SGD, EUR/SGD, EUR/ZAR, GBP/SGD, GBP/PLN, NZD/SGD, and SGD/JPY.

OANDA’s rapidly expanding client base in Singapore, already accustomed to OANDA’s low spreads, asked for more crosses to the Singapore Dollar (SGD). “We were happy to comply,” said Michael Stumm, CEO of OANDA Corporation. “Based on our experience with the rapid uptake of the new pairs we introduced last year, we expect a significantly higher volume of trades. As demand grows we will continue to add more pairs.”

The new pairs also include a euro cross to the South African Rand (ZAR), extending the number of available crosses to this important carry trade currency. Carry traders take advantage of interest rate differentials even during same-day trading at OANDA, which is the only forex dealer to offer second-by-second interest.

I wished they Would Add the USDX. I don't trade it but it is important In my system and hard to find a Live feed

they now have the mixed usd index

I decided to fund Oanda using a check as it seemed like it would be the cheapest, though maybe slowest way to fund the account. It was posted to the account for free, and I get 1 free check withdrawal per month. As this money is not needed day to day, time isn't exactly an issue.

I mailed the check on Monday and it was posted to my account on Friday, 5 BD turn around. Not to bad.

I am not doing selective reading , at least 6 months to a year to organise trades and close them ! ,what the hell you are talking about guys !

Agreed.

Assuming of course that he knows what the hell he's talking about (I doubt it), he must be a long LONG term investor with millions in investments to need half a year to a full year just to manage getting his investments out of the market with minimum loss. Otherwise it doesn't make sense. Actually even then, 6 months to a year is still too much just for "organizing and closing trades".

Is he planning on switching brökers? If so why not just open an account, then close the trades, then move the funds to the new bröker and simply reopening the trades? What difference can a couple of days movement do if he's the long term investor that he implies to be?

I don't think he has any clue what he's talking about. In the Stock Markets Six months would Be needed to closed out trades, But the forex market has a higher liquidity ratio. I don't think anyone can handle the emotional roller coaster to keep a trade open For six Months. Let alone the foresight to predict a Long term Trade of that magnitude.

I ran recently into barrier with the 50:1 leverage (which I thought I never would). I was averaging up heavily on one trade having another two trades open (which is rare that I have three trades open), but I had "insufficient funds" pop up and I saw that I was already using all my funds as a margin and that of course made my win smaller than it would be (which is in my understanding the same as loosing money)

Anyone knows about that 10:1 leverage downgrade? That would hurt me a lot!

That would fuck us all up.

10:1? Where did you hear that. Its 50:1 and going to stay that way for some years. Hopefully.

Cant those fat bankster assholes leave us small investors and our dreams alone....

http://www.golearnforex.net/image/leverage.jpg

why oanda charge withdraw fee , im considering to trade with them , but run away as i see they charge fee for withdrawing , forex broker today are not like 10 years ago , they are all competitive now so many option to retail trader these days than 10 years ago

To discourage withdrawals, especially frequent ones.

still ... maybe it's ok few years ago where reliable brokers are rare , but today i think its ridiculous , all prefered broker list on forexfactory.com i think are decent , if profit longterm and withdraw everymonth its quite a money yet to add bank transfer cost .

Your first withdrawal in a calendar month is free if you withdraw by credit card , paypal and check , all brokers will charge u for bank wire withdrawals .

As already mentioned, they do give you a free withdrawal per month. I guess they just don't want to encourage very frequent withdrawals. I don't see how this is a real issue anyway. If you're a serious trader why would you need more than one withdrawal per month?

No offense but it sounds like you just couldn't find anything better to complain about.

im not read it completely , yeah there is free withdrawal / month , well i'll try to read more

I have been active reader for many years and today I decided to join the discussions. Please forgive lack of experience.

I never had an account with Oanda before and it is not easy to navigate. I had to go the live chat just to find out why I could not get a DEMO account (or practice account as Oanda calls it). Still have not been able to login.

Is anyone here actually trade with Oanda and see any advantages over other retail FX brokers? My first reaction is if it is this hard to get a DEMO account, getting LIVE account might be bad idea. I don't want to get involved with another troubled broker like REFCO. I lost a bundle with that mess;-))

Reason why their site is hard to navigate is because they offer other services other than Forex trading. Once your on the main site click My Account and select a fxtrade Practice Account. Opening a Account is Just as hard as the Other Brokers. You'll need Government Issued Photo ID and a Bank Statement. Fill out a Wavers Form And Your well on your way.