Why do you think this insurance protection would help you? This sort of insurance in the USA is simply to protect your deposits at a bank in the event of their insolvency or a run... The bank your broker holds the funds at has nothing to do in their insolvency and the use of your funds to pay their creditors with....but if the bank itself has problems then you have protection....but you should really check the details of how your funds are protected and disbursed back to you even tohough it has the FDIC stamp on it.... Remember who you make the check payable to when you fund your account, and you will understand that there is not any insurance available...even with segregation that insurance would protect the broker if the bank went down...BECAUSE THE FACT REMAIN THAT YUO MADE DEPOSITS PAYABLE TO YOUR BROKER AND LIST THE ACCOUNT NUMBER THEY GAVE YOU ON THE CHECK....NOT YOUR BANK ACCOUNT NUMBER AT THE SEGREGATED BANK ACCOUNT THAT THEY BANK AT. The more important issues to check are if they are NFA and CFTC. But in the event that they are caught doing something wrong...you then still may not get your funds back...ask FutureWise clients.... Michael B.
Thank you for your response Michael, Do you know if this insurance is hard to obtain? Or is it expensive? By the way, does anybody know of any forex broker in the USA that offers 1:400 leverage and is FDIC insured.
BROKERS ARE NOT BANKS....JP Morgan has this protection and this is who Oanda banks with... By the way Oanda is US based not Canadian based. TMcKenna...you really got to study this....You are basing your decisions and your security into an insurance product that has nothing to do with your concerns. The Refco debacle that you site as a basis for your point, should have educated you to this, by the developments that have transpired... Michael B. P.S. Here are the facts.... There is no insurance protection. This is why if you decide to trade ANYTHING especially Retail Spot Forex...you should understand that you are risking your capital not only to your trading actions but to the infrastructure of the broker you use. It is suggested that you diversify your funds out to more than one operation as you are doing TMcKenna. P.P.S. Also understand investors, that if you are letting a manager trade your account and he trades in Retail Spot Forex only...It is unregulated. However the NFA in December 2005, just was granted by the United States Congress more authority in Retail Spot Forex. We needed that in this circus of Retail Spot Forex and as a manager I actually welcome it. Many foreign countries have recipricol agreements with the NFA including Japan and this will be a good thing globally...
Sirpy, you mean a SMA? or an exponential? or just keep them both simple? hehe...you must be using 1 minute charts? How long do you need to go back on that sort of trading? Daily's go back a year...
This is definatley interesting...I just saw the GoldCorp Taped interview on Bloomberg... Gold has made a nice dip...I would be buying here...Hurry up Oanda! Michael B.
Is there any way to change the backgroup color from balck to white and still make blue/red for candle?
There are settings for each, but I have not tried it...should be possible...have you tried it? what happens?
after reading this thread, i decided to check out OANDA. they definitely win the award for the UGLIEST charts and most HIDEOUS and antiquated platform I have seen since my last TRS 80 computer. why don't these guys upgrade their software?? what a mess, surfer