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  • #4,881
  • Feb 22, 2017 8:08pm Feb 22, 2017 8:08pm
At least Oanda is transparent, I give it credit for that. The spreads do not need to be this high (on a commission based model anyway). This is cadjpy today.
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  • #4,882
  • Feb 22, 2017 8:26pm Feb 22, 2017 8:26pm
And a live trade to confirm (to be fair, I am sure the LPs' spread did widen somewhat during this time):

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  • #4,883
  • Feb 22, 2017 10:57pm Feb 22, 2017 10:57pm
Quoting nonlinear
And a live trade to confirm (to be fair, I am sure the LPs' spread did widen somewhat during this time): {image}
what time was that trade at? fyi, I don't use oanda, have no experience with them, nor trying to support oanda, just curious because out of 5 different brokers I've used, they all have wide spreads at 5pm, and have like a 4-10 pip increase during big events like rate increases. sorry to hear your experience with oanda though, what country do you live in? maybe you should check out another broker since oanda isn't cutting your trading style?
  • #4,884
  • Feb 22, 2017 10:59pm Feb 22, 2017 10:59pm
Quoting nonlinear
And a live trade to confirm (to be fair, I am sure the LPs' spread did widen somewhat during this time): {image}
plus cad/jpy isn't really a "major" pair, if you trade eur/usd you don't really see crazy spikes beyond the 5pm est reset, and the occasional "fat finger" order lol
  • #4,885
  • Feb 23, 2017 6:34am Feb 23, 2017 6:34am
I am with Oanda because I have little choice at the moment. And yes I know it's a cross - I also trade majors when the setups are right. I have traded with many other brokers and know these are not ideal trade conditions. Let see what the commission model looks like when it hits.
  • #4,886
  • Edited 1:30pm Mar 6, 2017 1:18pm | Edited 1:30pm
I really love this broker for how they treat the NFA FIFO rules, but I wanted to share this so everyone is aware.

There is no protection AT ALL for all US accounts. If they go belly up like FXCM and many other brokers, you will lose everything and there is nothing you can do about it. Your funds are not segregated legally despite what they advertise on their website.

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As a result, never keep any amount of money with these guys that you wouldn't be willing to throw away, because if something goes wrong, that is what is happening to your money.

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also keep in mind these guys are a private business so no one can really truly verify how financially healthy they are.
  • #4,887
  • Mar 7, 2017 6:37pm Mar 7, 2017 6:37pm
Quoting Sis.yphus
I really love this broker for how they treat the NFA FIFO rules, but I wanted to share this so everyone is aware. There is no protection AT ALL for all US accounts. If they go belly up like FXCM and many other brokers, you will lose everything and there is nothing you can do about it. Your funds are not segregated legally despite what they advertise on their website. {image} As a result, never keep any amount of money with these guys that you wouldn't be willing to throw away, because if something goes wrong, that is what is happening to your money....
Wow, for 3 years now I have been letting everyone know this. You need to be offshore, funds are just as protected (i.e none) but you only need 10% on deposit for margin. Most US traders are brainwashed into believing these regulations in the US protect them and nothing is farther from the truth.
  • #4,888
  • Edited Mar 8, 2017 4:38am Mar 7, 2017 6:58pm | Edited Mar 8, 2017 4:38am
What is USA Oanda's stopout / closeout level?

I am testing my system using MT4.
I got a closeout when my available margin level is around 83%
I did not set any stop loss and there is no log in the journal as of what happen.

Is there any unknown rule that I should know?

I'm talking about
ticket 177679242 & 177679240
that I opened on 2017.02.27
and closed by Oanda automatically on 2017.03.07

That's an account with a balance of 1 093.44
Losing positions: -279.29 and -10.34
Which are closed automatically.

Is Oanda's Stop Out level at 83%?

Is Oanda 100% Margin Call and 80% Stop Out?
100/80?
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  • #4,889
  • Mar 7, 2017 9:54pm Mar 7, 2017 9:54pm
Quoting pipmaster77
{quote} Wow, for 3 years now I have been letting everyone know this. You need to be offshore, funds are just as protected (i.e none) but you only need 10% on deposit for margin. Most US traders are brainwashed into believing these regulations in the US protect them and nothing is farther from the truth.
Have you been audited yet, just curious.
  • #4,890
  • Mar 7, 2017 10:27pm Mar 7, 2017 10:27pm
Quoting pipmaster77
{quote} Wow, for 3 years now I have been letting everyone know this. You need to be offshore, funds are just as protected (i.e none) but you only need 10% on deposit for margin. Most US traders are brainwashed into believing these regulations in the US protect them and nothing is farther from the truth.
So so very true! The regulations placed on the Brokers in the US hurt traders much much more than the Brokers. They have put most out of business. 50:1 does not protect me, Most pairs in US trade 33:1 or 20:1 so a 1lot is getting pretty pricey. GBP/USD is around 6300.00 to trade 1lot or contract or 100,000 units. Their is no FDIC on your account.
  • #4,891
  • Mar 7, 2017 11:15pm Mar 7, 2017 11:15pm
Quoting pipmaster77
{quote} Wow, for 3 years now I have been letting everyone know this. You need to be offshore, funds are just as protected (i.e none) but you only need 10% on deposit for margin. Most US traders are brainwashed into believing these regulations in the US protect them and nothing is farther from the truth.
True. There is actually not a single broker in the US that will offer deposit protection for forex accounts. TDAmeritrade offers SPIC for brokerage accounts, but not their FX accounts. Gain is the same way and same with Oanda. You're funds are never really protected in the US and you basically just want to keep them at the place that is least likely to go bankrupt.

Or just completely migrate over to futures trading where you can be protected and have a centralized exchanged.
  • #4,892
  • Mar 8, 2017 5:15am Mar 8, 2017 5:15am
Quoting nonlinear
{quote} Have you been audited yet, just curious.
I pay taxes on my profits every year, just as I would if I were with a US broker. I am only trying to avoid the ridiculous regulation, I am not trying to avoid taxes.
  • #4,893
  • Mar 8, 2017 5:19am Mar 8, 2017 5:19am
Quoting Sis.yphus
{quote} True. There is actually not a single broker in the US that will offer deposit protection for forex accounts. TDAmeritrade offers SPIC for brokerage accounts, but not their FX accounts. Gain is the same way and same with Oanda. You're funds are never really protected in the US and you basically just want to keep them at the place that is least likely to go bankrupt. Or just completely migrate over to futures trading where you can be protected and have a centralized exchanged.
That's the irony of it alll, as much as the CFTC claims the regs are for our benefit, it is actually they who PROHIBITthe brokers from offering protection of our funds, the brokeers don't mind doing it. All of the US brokers who had offices in other areas of the world offer it in those areas, just not US. It is the regualtors, not the brokerss preventing this. Reason being they want you in futures and so many left futures to go to spot, the only way for them to attempt to get them back is the over regulation and to drive the brokers out. They are accomplishing this just as planned as we remain with 2 brokers.
  • #4,894
  • Mar 8, 2017 8:33am Mar 8, 2017 8:33am
Quoting Sis.yphus
If they go belly up like FXCM and many other brokers, you will lose everything and there is nothing you can do about it.
I don't understand this statement. Yes, FXCM did shut down their US business. Maybe that is what you mean by "belly up". I withdrew my funds from FXCM and received 100% of them. I did not lose anything. Are you actually suggesting that there are US customers of FXCM who lost everything? From what I understand...every US customer has either received all of their funds via withdrawal or their accounts were completely transferred to Forex.com.
  • #4,895
  • Mar 8, 2017 3:23pm Mar 8, 2017 3:23pm
Quoting zznbrm
{quote} I don't understand this statement. Yes, FXCM did shut down their US business. Maybe that is what you mean by "belly up". I withdrew my funds from FXCM and received 100% of them. I did not lose anything. Are you actually suggesting that there are US customers of FXCM who lost everything? From what I understand...every US customer has either received all of their funds via withdrawal or their accounts were completely transferred to Forex.com.
I had misspoken. FXCM didn't go belly up when they pulled out recently so I apologize about that.

But they almost did with the SNB incident. If they were not able to secure that loan, everyone at FXCM would have been put in line behind their other creditors and would likely have never received their funds.

My main point is, even a public company that you can see their financials, could become insolvent in a second out of nowhere. So when dealing with private companies where you can not see their financials, they really could be on the brink of insolvency and you wouldn't know it.

In other words. Your funds in the US in an FX account are never protected.
  • #4,896
  • Mar 8, 2017 3:41pm Mar 8, 2017 3:41pm
Quoting pipmaster77
Most US traders are brainwashed into believing these regulations in the US protect them and nothing is farther from the truth.
Excellent.

With almost no exceptions, most political and economical regulations are put in place to protect the Elite, not the average citizen, regardless of his/her geographical location.
  • #4,897
  • Mar 8, 2017 6:25pm Mar 8, 2017 6:25pm
Commission based pricing is here!

- US clients only (for now)
- $5 per side per standard lot, premium account benefits available to those who qualify.

Core Pricing highlights:

  1. Access EUR/USD spreads as low as 0.1 and a typical spread of 0.4 with $50 commissions per 1M traded
  2. Currently, this pricing option is eligible for US clients with a $10,000 USD minimum account balance
  3. View the Core Pricing + commission price sheet


Existing clients can contact their account manager, RM or customer support to access commission pricing.

New clients can select the 'Core Pricing' option when signing up.

Cheers,

Disclaimer: Leveraged trading is high risk. Losses could exceed investment.
  • #4,898
  • Mar 8, 2017 7:02pm Mar 8, 2017 7:02pm
Quoting OANDARep
Commission based pricing is here! - US clients only (for now) - $5 per side per standard lot, premium account benefits available to those who qualify. Core Pricing highlights: Access EUR/USD spreads as low as 0.1 and a typical spread of 0.4 with $50 commissions per 1M traded Currently, this pricing option is eligible for US clients with a $10,000 USD minimum account balance View the Core Pricing + commission price sheet Existing clients can contact their...
Is this going to be an ECN model or will Oanda still be holding the other side of the trade?
  • #4,899
  • Mar 8, 2017 7:21pm Mar 8, 2017 7:21pm
$50 is rather steep. At IB its $20 per million USD traded.
  • #4,900
  • Mar 8, 2017 9:47pm Mar 8, 2017 9:47pm
Quoting shrike
$50 is rather steep. At IB its $20 per million USD traded.
You need at least $10 millions (cash or assets) to open a leveraged Forex account with IB.

BIG difference.
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