Additionally, even with these IFs Oanda is only cheaper if one trades exclusively EUR/USD. In have no experience with MB, but with IB one can scalp definitely much cheaper than Oanda in case of AUD/USD, GBP/USD, USD/CHF (all of them with a spread of 0.5-1 pip), and many others too (like several JPY pairs). Because of IB's minimum commission rates though, Oanda is cheaper if one trades small lots. With standard lots and above IB wins hands down. Automatic stops are also possible. Nevertheless, I do consider Oanda a good broker.
The limit order rebate does change things as I do them quite often. Additionally, I do get quite a few .4 and .5 spreads. Nothing against Oanda though, for a DD broker, they are pretty darn good people.
Right, if you enter limit 0.1 from market, you're all but guaranteeing execution, with the rebate in your favor. Assuming you exit at market, your effective round-trip commission is $1 per $100k, tough to beat.
You get filled like that often? I suppose one would need algo assistance to make that viable when the market isnt idle. Also it sounds like there is always the possiblilty your limit is marketable once it reaches the server with just a 0.1 pip offset..
Difficult in an active market. The request was made to MBT as soon as they launched this to add an API order flag for 'add liquidity only', so that a limit order couldn't be treated as marketable if the book moved before it was fully submitted. Hoping they offer this soon.
Well no shit. Of course it's cheaper, not sure why a thread was needed. Oanda typical spread .9 - 1.2. MB Typical .7 - 1.0 + Commission. If you use limits, then yes, MB is much better. But I have been unable to use limits when I scalp. So I stick with Oanda. For scalping, Oanda is the best imo. Love the 1 click trades. The only thing Oanda is missing is range bars. If they had that they would be super duper.
ROFL I find it ridiculous how you guys "forget" to say that this is only true in case of EUR/USD .... including all the three other above mentioned "IF"-s
Cable is also usually cheaper on Oanda, so is usd/jpy, if you calculate full commissions in and out. Cable is mostly 1.8 and usd/jpy 1.2 on MB. Other firms with thighter spread on these pairs (like IB) are probably cheaper than Oanda.
True, unless you rebate-trade on one or both sides, Oanda typically beats on an after-commission basis. Cable, as Pippi pointed out, is also a 'competitive' pair, and then there's the weekend close.. FX Intelligence