FXCM, Oanda and forex.com, Which is best? - Page 2
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  1. #11
    Join Date
    Dec 2006
    Location
    NY
    Posts
    57
    I have used all of those brokers in the past.

    I prefer oanda over all of them.

    The main advantage to oanda is interest on your margin deposit (credited daily), low spreads (i don't care what the spread is during news time), flexible lot size, and continuous interest payments on open positions. However, their charting does leave a lot to be desired. I use Metastock end of day for most of my analysis and oandas built in charting to view shorter time frames.

    FXCM has been a fair broker, though their spreads are too high. I had a trade discrepancy with them in the past, they said it was due to a bad tick. I reentered the trade at market, and my account was credited the difference from where I was stopped out at. It is also convenient being able to fund your account with a credit card. Their free charting leaves a lot to be desired.

    Forex.com, I did not like their interface and their spreads are the same as FXCM, the ability to trade/check positions from your mobile is great, but in all fairness I wasn't with them long enough to comment on anything more then that.

  2. #12
    Join Date
    Dec 2006
    Location
    Cairo, Egypt
    Posts
    327
    Guys, I do not know if this is only by chance, but most have reviewed FXCM as a 'scam'

    Online Forex broker reviews | Forex Capital Markets Review | fxcm.com rating

    Actually, I would really encourage all guys to research their broker before starting up very well. It's not just you will be able to trade with low spread, and very high leverage. Security of funds is top priority if you want to expand your business.

    I still insist that Oanda is the best broker around with no competitors. They provide exellent service regardless that you are being profitable sometimes - which many brokers hate.

  3. #13
    Join Date
    Jan 2007
    Posts
    10
    I use and like Oanda .

  4. #14
    Join Date
    Jan 2007
    Location
    Toronto
    Posts
    31

    Default oanda and spreads

    hi i am new to trading but i like it so far. i have tried ACM, forex, hexense, fxcm and moneyforex. i like moneyforex because of the low spread.

    all of you guys are saying that oanda has good spreads but EUR/USD is 1.29596/676 isn't that 8 pips?

  5. #15
    Join Date
    Jan 2007
    Location
    Toronto
    Posts
    31
    i believe that oanda spreads increase when the market is closed.

  6. #16
    Join Date
    Dec 2006
    Location
    Cairo, Egypt
    Posts
    327
    Oanda spreads for EURUSD is 1.5 pips during normal days, and 10 pips during weekends. Spreads can increase at certain trading times, or during major news announcements.

  7. #17
    Join Date
    Dec 2006
    Location
    Norristown, PA
    Posts
    450
    I Love Oanda for everything but the charts. I am thinking about programming all my strategies in Metatrader so I can set alerts and have them sent to my cell phone during those bedtime hours . Then only using Oanda to place orders through > I hope they update their charting platform someday but I still think they are worth using despite that minor problem to overcome.

    Topgun

  8. #18
    Join Date
    Jan 2007
    Location
    Toronto
    Posts
    31
    i read online reviews about oanda that people complained about sometimes they do not put the orders through or they don't honor the stop loss or the limit.

    Anyone in here tried Tradefreedom?

  9. #19
    Join Date
    Dec 2006
    Posts
    15
    very interesting guys about oanda ,i've been trying forex.com, fxcm , with gft dealbook360 ,i'm still new at that and don't yet wich one i'm gonna pick,
    still practicing with demo

  10. #20
    Join Date
    Feb 2007
    Posts
    21
    Quote Originally Posted by topchess View Post
    Oanda spreads for EURUSD is 1.5 pips during normal days, and 10 pips during weekends. Spreads can increase at certain trading times, or during major news announcements.
    I have seen Oanda eur/usd gone upto 15pips 20 mins before a German zew sentiment (3 months ago). It was 20 pips just after the news and stayed like that for 334 seconed before it went back to normal spread.
    This is just one of many times I have seen eur/usd spread go throgh the roof even on a moderate market voliatality.

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