Oanda
OANDA Corporation is regulated by the CFTC/NFA. OANDA is a member Firm of the NFA (Member ID: 0325821). CFDs are not available to residents in the United States.
OANDA CORPORATION IS A MEMBER OF NFA AND IS SUBJECT TO NFA'S REGULATORY OVERSIGHT AND EXAMINATIONS. HOWEVER, YOU SHOULD BE AWARE THAT NFA DOES NOT HAVE REGULATORY OVERSIGHT AUTHORITY OVER UNDERLYING OR SPOT VIRTUAL CURRENCY PRODUCTS OR TRANSACTIONS OR VIRTUAL CURRENCY EXCHANGES, CUSTODIANS OR MARKETS
Trading in digital assets, including cryptocurrencies, is especially risky and is only for individuals with a high risk tolerance and the financial ability to sustain losses. OANDA Corporation is not party to any transactions in digital assets and does not custody digital assets on your behalf. All digital asset transactions occur on the Paxos Trust Company exchange. Any positions in digital assets are custodied solely with Paxos and held in an account in your name outside of OANDA Corporation. Digital assets held with Paxos are not protected by SIPC. Paxos is not an NFA member and is not subject to the NFA’s regulatory oversight and examinations.
Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances. You may lose more than you invest. Information on this website is general in nature. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. Trading through an online platform carries additional risks.
Oanda
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Best broker for FX in USA for me, but the leverage in Gold is only 1, thats why i preffer use other brokers in other countrys.
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We rate Oanda as follows:
Platform - 5
Now with MT available, Oanda certainly deserves a 5, on top of the fxtrade tht we personally prefer. Might not be the best tool for analysis but fxtrade is superb for execution because it calcullates all risk/reward/margin/P&L parameters for you. This certainly is a plus and helps reduce time consumption in trade execution and management.
Customer Service - 4
We spoke to CS once, they are responsive and helpful when we lost our mobile phone number for 2 factor authentication. Yes, Oanda SG at least, use two factor authentication to log in to your profile account on the website. We give 4 because we are sure there are always room for improvement in Human Performance.
Pricing - 5
As far as spread is concerned, we are yet to see better competitors as there is no minimum spread to market rate to place your pending order. In other words, if current offer on Euro is 1.32151, u can place a buy limit @ 1.32150, a mere 0.1 pips difference. Try that with other brokers if you can. Yes, there might be spike and that is understandable as they are market makers who make their own market price.
Features - 5
We simply like the Autochartis & News in the fxtrade. The news are superb for retail traders with analysis and even trades recommendation from professional providers like IFR Markets.
This is our personal view based on our experiences using Oanda as our signal accounts and they might differ from your experiences.
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I hedge with them with subaccounts, its a pain to keep the balance right, its not worth it. There are plenty of good brokers that allow hedging.
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Very good broker, they pay me money that i win with my scalping EA.
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After 6 years with oanda, it's come more and more worst
The negative swap (france 40) go up by 3 times on 11 april 2014 and 5 times from 12 april to 14 april 2014.
http://nimga.fr/f/EaGP0.jpg
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My gonna count you a story of my Oanda experience
I got a full funded Oanda account for nearly 2 year now, no trouble for the first year , this year has been a kind of calamity not only trading.... but service side , software side to.
I call Oanda many time (when i use to live in UK) they always answered my call and always go someone helpful, but not customer service, usually a sell representative who try to sort the shit out.
Withdraw has have been difficult, especially if you are like me living on multiple country (France, UK, Philippines) , Oanda is very rigid regarding money withdraw if you found our account with Paypal you have to withdraw with paypal first !! You can't transfer on account you haven't founded money with event if its your name on it. Funny don you think?
Customer service, (the one you email only) Use to be very efficient, but really less recently, just by ignoring my question, or giving me information I know all ready, just clearly pissing around with me.
Quality of execution use to be quiet OK (not great)when I'm in UK, now is very slow( maybe my expectation are too high) Now living in Philippines, I still get connected to a UK dealing server( aberration Oanda SG ,ASIA, will be certainly faster), the customer service, tell me i gonna be connected on the same server(doubtful)
Spread is areal bitch, with peaks of 56 on USDJPY last January made me rethink how I was seeing Oanda.
Other service associated with the Oanda broker, the statistic data are helpful, the news service to, now offering pattern recognition, well.
If tomorrow do i will go again to Oanda brokerage service : NO, i'm looking for better alternative regarding my geographic situation, and to get a better execution
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Dont ever try to get someone on the phone! They have great spreads, ZERO service, and to be honest, even though I have had a live account for 5 years there... no idea who the F*&( they really are.
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Oanda doesn't charge commission.
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You can hedge in different subaccouts. Every Oanda client can create up to 19 subaccounts.
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I agree , very strongly increased spreads..... Very strongly
Especially usd zar
Comes to 290 pip
It is not well
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the fact that hedging is not allowed with them makes unviable for many traders
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How about the comission?
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No bad, but he was better befor:
Now need 24h before withdraw money, (before, funded by bank wire, and withdraw by same bank wire, the money come in my account in less than 24h).
Before spread eur/usd most of the time = 0,9, now 1,2 or 1,4, so the spread go uP by 40% (thank 😡MT4).
And dynamic spread is horrible,i like before.
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U make the right choice, mate :)
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Hello guys.. I just opened a new account with them... what are you thinking about this broker?
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But pricey !! 10 quick for a withdraw.
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AndyQuant - you can't hedge on the same account with OANDA. But you can hedge in different accounts e.g. buy in sub-account A, sell in sub-account B
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to oanda
Hi, i joint registration in contest of Oanda but i don't how trading with what platform, please help me
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Is hedging allowed on this broker?
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I just opened real account with oanda today. I found their system to allow adding subaccount awsome. No question ask, you can add up to 19 subaccounts !MT4 enabled or FXTrade platform. I tried to execute the orders on the MT4 & found it to be very quick. My current broker asked all kinds of questions regarding my opening of the subaccount (what is the source of my money, what lot size do i plan to trade, what is the frequency of my trades....) I have been with this one since 2005. I am still with them because some how I can still do the hedging which is great for my EA that does this strategy. However, I think it is not their business to ask these questions.
