Interesting. Oanda traders are kicking ass... http://forexmagnates.com/us-forex-brokers-account-profitability-comparison/
They fall into the SEC regulated camp along with dbFX and CitiFX. Even if they were required, the numbers would be skewed by those who trade a variety of products in addition to FX.
That is very interesting. I had no idea that firms compiled those statistics. Thanks for posting this
Are funds deposited with spot forex brokers safe? By safe, I mean they hold your funds in a segregated bank account so in the unlikely event of the insolvency of the company, your funds are fully protected. In such an event, you would be entitled to make claims on your full account balance. Dukascopy and MIGbank having Swiss banking license would be "safer"?
the smartest, most successful traders - like me - have an account with Oanda ; one commentator at forexmagnates suggested the figures were a result of Oanda paying daily interest on accounts, irrespective if the accounts were traded however I don't believe that's correct some additional interesting data is that FXCM for instance advertise on their site they have "Over 165,000 tradable accounts on platforms offered by FXCM" but their Total N-D Accounts have declining volumes - from 22,371 to 15,023 , and "Our trading platform is tested in all market conditions, routinely handling over 320,000 trades per day" 320,000 / 22 trading days = 14,545 / q3 2010 accounts of 15,023 = 0.96 trades per account per day Oanda don't publish accounts volume data but they're at least double the size of FXCM based on their CFTC capitalization filings and Total N-D Accounts data both FXCM and Gain the last time I calculated average client account size based on '165,000' etc is less than $2,500 per account - a Lot of dormant accounts
I will tell you why Oanda has profitable traders. Oanda from the beginning has always offered 1:50 leverage(effective 1:100). Now what kind of trading does this encourage...? I will let that "little voice in your head" answer this. ElectricSavant P.S. New traders- Ask yourselves what this means...How should you trade to be profitable? You answer....