I have long believed that the two best choices for Fx were likely to be Oanda and IB. I once had another fx account but didn't enjoy the impure bucket shop model they practiced. I liked IB for the ECN model. I liked Oanda for the size flexibility and fully self contained well respected internal model. But there is a thread on the competition that raises the question of capital protection. It appears that Oanda does not protect your capital ... should there be a run on the bank of should they simply fail then the secured creditors keep your money: "Funds deposited by clients are held in accounts maintained at highly reputable banks, such as JPMorgan Chase, Citibank, UBS, Deutsche Bank, Royal Bank of Canada, etc. (Note: funds are not insured and do not receive protection from bankruptcy)" http://www.trade2win.com/boards/showthread.php?p=359747 So, what's the story here. Are we at risk with cash deposited with Oanda? Are we at any less risk with IB?