Same here. Have been using Oanda for many years. Have never experienced any trouble taking money out from Oanda. Usually take out a bit every month, and I have never experienced any delays or issues with it.
Are the spreads on EURUSD at Oanda with their Core Spread + Commission pricing really 0.0 pips during London and NY sessions? If that is the case, it would be cheaper than currency futures on CME
I haven’t really looked into that. I thought Core Spread + commission is mostly offered in certain Asian markets? As far as I know, the spread I am offered at Oanda give me a lower cost than the CS. But my contact there said that they needed to offer it at certain markets, as those markets require it
It is not necessary that all companies are scam, there are many good and trusted brokers outthere where you can invest your money and make profit. But I have one suggestion that always choose a regulated broker and broker should have good reputation in the Forex market.
They told me I have to be an Eligible Contract Participant (ECP), i.e. have $10m in assets which is a bit too much to put in one broker for me. Are you sure they allow FX trading for someone who is not an ECP?
Forex scams are around as long as the forex market came into action. Just because this market is highly lucrative, It is hard for you to understand the same that easily. As per my experience in the market, I can say that not all brokers are money makers. But, this does not mean that scammers do not exist, with the right steps and tactics you can easily identify and avoid such situations from happening. I have been using Fxview and Pepperstone for 1+ year now - they both are reliable names of the forex markets offering MetaTrader 4 as a platform to traders. These brokers are easy to learn and follow. In case of any doubt, try creating a demo account with them, and learn the basics. This will help you to understand the working and avoid scams not just with these brokers but with others available around.
OK. I might give it a try - in a setup where I will be placing trades in a demo account at one broker, which I am sure will present just ideal, unrealistic fills and trading conditions, and copying the trades into a real account at another broker. If there is any kind of significant difference between the two, I will conclude that the broker holding my real account is not offering a good service, whether intentionally or not. The main thing is that I can indeed trust one of those huge brokers, like IG, to at least always pay out my money when requested - no doubt about this. What they do in terms of trading conditions, is another thing though, and I will just test it. Perhaps all those negative opinions are unjust. We will see.