Please enlighten me then. And why did you PM me saying I'm spreading lies? I was a customer of Oanda. I, along with a few others ranted on their forums for years trying to make them add 10/15mins charts. (at least they bother to add them now lol) They did charge me US$30 for wiring money back. The cost may differ depending on the sum wired back. As for the review of Oanda vs IB, you can check forum history...we were commenting on Ideal Pro commissions and IB actually dropped their comms by half for everyone. While we were practically shouting at Oanda for 10/15mins chart and got 0 official response. You can't blame me for reviewing in favor of IB can u? So where are the "lies" and why don't I have any idea.
You make it should like Oanda does not lower commissions. Just recently the spread went down from 1.8 to 1.5 on EUR/USD. And we are already seeing 1.2 pip some of the time. My guess is that 1.2 pip spread will be the standard at the beginning of next year. I can understand a withdrawal fee to keep withdrawal requests to a minimum. Maybe they should introduce 1 free withdrawal per month. IB is a very large corporation and can probably manage the withdrawal requests better because of scale advantages.
Well, its the truth that they do not lower commissions cause they dun have any to lower. Oanda themselves said "trade with no commissions!". By the way, standard CME EuroFX futures spread is 1 pip since time eternal. :eek:
I don't really know EuroFX (futures right?), but Oanda offers very competitive rates. It's not really about the spread for me, the flexibility Oanda offers is unmatched. Trading small $ to get a feel for the market is wonderful. I don't know about IB, people speak (generally) highly about them. Though I have a feeling IB introduces to much complexity. I just want to buy/sell and place an entry order; simplicity is the key to success. Reading this ET forum is just horrible. I know this is mainly exchange related, but still (glad I trade OTC spot forex). Maybe I give IB a try when I trade big size, .
Agreed. Oanda gives the best rates when it comes to small spot FX order execution. The services of a full brokerage is important if you're planning to run a trading business though. (free API, ability to trade many markets, free real time data, historical data, backtesting, custom indicators, tick charts, account management, insurance (capital protection). Yes, a professional firm might be too overwhelming for the newcomer. I alway recommend Oanda for those trying out with accounts less than $1k. Being able to trade 2,500 lots at no comms and 1.5 pip spread is very important for newcomers.
i'll said the 2 good fx firm for small trader are oanda and ib , because i trade with oanda ,and i also trade with other fx firm before, so i know oanda is best among them , but i think ib is good fx broker too .
Just because you lost your @$$ trading forex doesn't mean you should spread rumors and lies about a respectable company commonly known to be the best fx broker out there. It makes you look like a bigger [*beep*] than you already are.
Yes I use both. Both have their plusses. No reason to have to choose one over the other or to argue about it like some others on this thread. Everyone needs a backup right? If there were a close 3rd place finisher I would check them out as another backup. Any contenders for 3rd place?