Saxo vs FXCM vs Oanda

Discussion in 'Forex Brokers' started by gfrank, Aug 10, 2007.

  1. gfrank


    I'd appreciate anyone's impressions on how these three retail FX brokers stack up. Main feature I'm after is to trade wide carry spreads, in 'exotic' currencies - eg. TRY, ZAR, BRL against JPY, CNY, SGD. Mostly trade only in spot mkt.
  2. Oanda's spreads will be at least 20% tighter than FXCM and Saxo.
  3. gfrank


    Any comments on where one can find the best interest rates payable on carry trades? I've noticed bid-ask spreads on THB interest as wide as 6%-21%.
  4. I wouldn't go near Saxo with a 10 foot pole after listening to Chood.
  5. I have no experience with Saxo. Comparing FXCM and Oanda, FXCM has better rollover rates with lower margin requirements but only deals in major currencies.
  6. Chood


    I indeed had a very bad experience with Saxo, and I have a very bad opinion of it as a result. Others also have not fared well with Saxo, if the broker review page of ET is an accurate measure.
  7. gorin


    try goldenmoneytree forum there isa lot of discussion there on carry trade and hedge trades....
  8. FXCM has been sued in federal court based on the complaints here described and many others.
    Those interested in joining please contact me:
  9. itrader911

    itrader911 Guest

    sorry, I didnt deal with them...cant help you there
  10. itrader911

    itrader911 Guest

    Gotta love OandA
    #10     Sep 17, 2007