Initiate with Oanda and put the stops somewhere else?

Discussion in 'Forex Brokers' started by Nasdaq5048, Apr 30, 2007.

  1. Would a strategy of inititating with Oanda and putting the stops somewhere else (eg FXCM, ManFX) which has fixed spread work? And just reverse the position during quiet hours. I dont want to get stop out because of a 30 ticks spread. I only want to get stop out if the price gets there on a normal spread condition. Why dont people just put their stops with a fixed spread broker? What is the downside to it?
  2. jtnet


    good thought, dont know, i dont trade fx so i dont know when these spreading conditions occcur and when to spot them ahead of time.

    but i do know a lot of these little fx scams/tricks exist that people have.
  3. ETW77


    you are not really trading spot ...essentially a spread bet not fungible
  4. Bit dangerous of an idea as this requires some sofistication and has a ton of downside risk. You would need to contiinue to move capital between accoutns or worse get margined out on the Oanda and have a triggered stop on the other.