Oanda fxtrade questiion

Discussion in 'Forex Trading' started by endsongs, Nov 5, 2009.

  1. Hello. This is for anyone with experience with oanda. I'm thinking about opening an account with this company, as they seem to have the best fx spread. I'm wondering: is there any "catch" with them? I.e. do you not always receive the posted spread on their home page, are there any hidden fees, do they slip your trade by a few pips, do they close out running winner trades, etc...? Any inputs on negatives about this company will be appreciated.
     
  2. Spread increase during high volatility period. Also, during weekend, spread goes up to 10 to 20 pips.

    Other than those, I think Oanda is pretty good.

    PA
     
  3. "....do you not always receive the posted spread on their home page".......spreads widen around fundamentals (news) to 10/15/20 pips depending on the pair, and usually between about 5pm and 3am EST weekdays they increase slightly, and from Friday 4pm to Sunday night, other than that they're pretty much as stated most of the trading day.

    "....are there any hidden fees

    do they slip your trade by a few pips

    do they close out running winner trades, etc...?...."


    No (apart from the usual funding and withdrawal costs), no (depending on size and market volatility), and no.

    "....Any inputs on negatives about this company will be appreciated.....", none that I can think of right now but they have had problems in the past with connection, platform stability, spikes.....thankfully all sorted out now it seems! :)



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