I'm a small fish still in college Trading with Oanda Asia Pacific anyone has any sincere opinion with them? i mean their business model I've met their stuff and actually met the owner Mr. Strum but never talked to him I read about ECNs and all that but Mr. Strum posted on his forum that ECN has no future,what does that mean? maybe the 0.9 spread on EURUSD can get lower including commissions?maybe with other brokers? They even mail me their book Forex Trader's Bill of rights which is pretty good as it tells me the dirty trick of market makers I'm interested in short-term trading,any short-term traders are trading with them?
I use them along with Interactive Brokers, they have a good spread on most pairs. Their charting is simple and basic (but sometimes freezes on me ...maybe because of my Vista O/S) Also they don't have any good third party add-on software...unlike IB. Overall I'm pretty satisfied.
there a lot of positive about Oanda, however I think their charting program is piss poor and like a lot of clients, use another charting program - in my case MetaTrader they are the only fx broker who provides 5 10 and 30 sec price data; also while the spread widens to the weekend/holiday amount of 10pips for the eurusd, one can trade 24/365 - provided the feed is up and running and one can login, but while their customer service is good, they don't provide it 24/365 their eurusd spread is a non-fluctuating .9pips during rth but I've seen it as high a 20pips; I also think their leverage is far too low as to their 'Trader's Bill of Rights' , don't presume that Oanda wouldn't and doesn't use its own 'dirty tricks' from time to time
I remember at some point Oanda didn't call themselves a market maker if they are not market maker then what are they
you said it mr.az it smacks of Transactional Analysis and explains to some extent Strum's/Oanda's philosophy, java platform and it's lack of development - no parallel lines tool ??? and I should add a 'poor' to the order entry part of the FXTrade program I got caught once thinking I'd closed a trade when I clicked on Close - meaning 'close window' instead of clicking on Submit - 'submit the close order'
well i was trading side by side with a trader who was using oanda. He had two platforms from Oanda open at the same time for two different accounts. One platform was flat and offered the same quotes on all pairs that I had. The other platform he had a 10 mil position on. That account had 7 pip lower quote then my quote. He exited the order and we both watched the quote slowly move back up to be the same as all three platforms. Things that make you go HMMMMmmmmmm We both no longer trade with Oanda
No, not in my experience, but I really should say it depends on what pairs. I had a system with GBP/AUD and the spread on IB cannot be beat. So I would say for the least liquid pairs (or my small sample that I can reference) IB is where you want to go. But you should consider their data feed (IB's) and how that could potentially affect your program if it is dealing with Tick Data.