aForexMinute, You did a great job Thank you very much for this. May I suggest a thead in which you and other forex traders could contibute and write recommendation on which broker is the real one?
aForexMinute, you're a moron "With an ECN broker- I can easily make 50-60 trades with no losses. Can't do that on an off exchange" standard boiler-plate contract intended to disclose and inform the prospective client - is it any different to the ecn broker contract ? "exchange-traded contracts" = futures contracts "OANDAâs trading system is designed to automatically liquidate all open positions if your margin deposit is in jeopardy" = overloss protection, something that doesn't exist when trading futures â a Large plus "Your trading account is not insured under any state or Federal insurance program or by any other entity." = no fx broker, ecn or otherwise is insured, in Canada it's an opt-in policy "In the event OANDA should become insolvent or file for protection under the bankruptcy laws, it is possible that you would lose the entire amount in your Margin Account" = same for All brokers and ANY business anywhere in the world except bank accounts as davidmaria1 said, you're "Shilling for a schilling" i'm quite satisfied trading with Oanda and Know their price data is accurate, i receive instant fills on entry/exit, during rth their spread is 0.9pips and a note according to their Nov/09 CFTC filing, Oanda's Net Capital is $164,766,421 for comparison, FXCM's is $68,574,018 - they have 150,000 live accounts http://www.cftc.gov/ucm/groups/public/@financialdataforfcms/documents/file/fcmdata1109.pdf only a few years ago ecn brokers required a minimum $25-50,000 margin in order to open an account with them, their margin requirements may now be lower, the average amount retail fx traders deposit with brokers is $2,000, much lower in micro accounts http://www.100forexbrokers.com/stp-ecn-brokers
I could copy&paste equally nasty fineprint from ecns (hotspot or IB). Noone is liable for anything, and - of course - if the firm servers or 'the internet' has a hickup, its the traders problem. I doubt anyone can come up with fineprint that sounds appealing, i have read quite a few and they all sound horrible (doesn't matter if its fx or futures firm really).
Oanda is the lowest cost broker around MBTrading has fake spreads,do the math and you will find Oanda is the cheapest around - beats IB read this Spread Questions for Forex Brokers http://fxtrade.oanda.com/forex_trad...da/spreads/spread_questions_for_forex_brokers IMO Oanda is the best spot fx broker - up 10m that is