Yeah, I puked too when I first clicked on their site. However, as you use them, you will probably continue to reference sections of their site. OANDA is the only broker on earth that I know of that has an active message board directly on their site where traders freely post about everything. That says a lot. Regarding your asking more about it: OANDA was recommended to me by my main mentor in the beginning yet I went to every other fx broker and used their demos before I went to OANDA. I even had a live acct at another big broker before closing it and switching to OANDA. I have never had the same troubles at OANDA as I did with that other broker. Main thing setting OANDA apart from other fx brokers is their unique feature where you can trade as little as 1 unit. You can do so at Saxo Bank but you get popped an extra charge. OANDA doesn't charge you any extra for trading 1 unit or 10 million units per trade and the results are instant and identical. Therefore, if you are not so sure about a trade you can scale down to as little as exposing 2 cents of your cap to margin. This is very different from the other brokers who lock you into 100K or 10K contracts minimum, thus potentially wiping a big chunk of your cap out or even your whole acct out, should you be correct in your first determination about the trade possibly being wrong, and it does go against you. By exposing 2 cents of your cap to margin, a trade could go 1000 points against you and if you closed your trade at that worst level what would you lose, 20 cents? I doubt that will break you. I use OANDA to do live "currency tests" as well. This has made me a much better trader than I was when I first started, with minimal risk on the downside during the test due to being able to trade just 1 unit. In OANDA's FXTrader platform is built in many subtle yet very important and useful features designed to help you trade successfully. I have found OANDA to simply be vastly more of a successful trading platform than any other trading platform out there. Sam
I didn't mean to incite a pissing contest. Some folks around here need to chill and realize that this and any other board is primarily someones opinion and how they do things. Every person and situation is different so they all have different needs when looking for a broker or market to trade. No one market/method/broker or whaterver else is right for everyone. I appreciate the concern that Michael demonstrates for other traders. The bottom line is that we are all responsible for our decisions in trading, choosing a broker, choosing what market to trade and so forth.
Nothing personal meant.... Hey to not be a hypocrit...I have an Oanda account(over 1 year)....I just realize what I am trading..... Michael B.
This guy is in debt and can scrape together a few hundred dollars, and you advise what? That he considers trading currencies? In all the thousands of posts that I've seen here on ET, this has got to head the list of the most irresponsible, lame-brained and idiotic. God help anyone who should accidently run into your advice in the future, mistakenly thinking that you have the slightest idea what the hell you are talking about.
"..working my ass off to get the scraps off some fat bastards table." Newb Well, hell, you're a winner straight away, aren't you(?) .. I don't think so, chum, with a fu*ked-up mind like that! Whether you're rich, poor or middling doesn't amount to diddly squat in this game .. to set out to be a winner requires a clear mind and intent first emptied of such emotional garbage as rancor and hostility towards the materially rich (aka 'fat bastards'). Remember this is still the country of 'The American Dream'.
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