Trusting a Broker? - Page 2
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  1. #11
    Join Date
    Dec 2006
    Location
    Cairo, Egypt
    Posts
    327
    I am live trading, I know what you talk about.
    I get disconnected also. Lack of trailing stop, hmm small leverage, java platform, not very good charting..

    But regarding trustworthy, it's worth it.

    I want to open an account at NorthFinance, but I hesitate too much..not promising review!

  2. #12
    Join Date
    Dec 2006
    Posts
    99
    Quote Originally Posted by swordofrue View Post
    I haven't experienced any disconnects with Oanda. Perhaps that is because I am only demoing? I probably going to start small with a micro account until I trust a broker. Even though I have the capital for a mini probably be a good idea to start micro especially if I do not trust a broker.
    i am also trading with Oanda's demo account. i dont know if the fxtrade account has the same glitch (i hope not). on the oanda forum for platforms, a rep from oanda claims that the problem has been fixed. i really dont see a difference but what ever. its really stressful if you want to get in or out of a bad trade and you just cant connect. so far, by most of the broker review sites, Oanda is the best broker. its also the one broker that gets the most reviews written about them by traders. i will probably trade with them. the trailing stop is not the biggest problem i could have anyways. my biggest worry are their spreads and slippage. i get that Oanda is probably one of the most trust worthy brokers but i need stability but there are only a hand full of brokers that allow micro accounts and pays interests well on balance and carry trades. has anyone experience huge slippage and/or spreads higher then 30 pips?


    also check out forex bastards.
    is this true? and is this really a bad thing?
    "From: John, USA
    Rating: SCAM
    Date of Post: 08/13/06
    Review: Did you people read Oanda's trading agreement. In the trading agreement it is stated that Oanda trades against its clients. They have a fund for that! ... READ THE TRADING AGREEMENT .. cheers".
    Last edited by honeb; 12-31-2006 at 05:17 PM.

  3. #13
    Join Date
    Nov 2006
    Posts
    2
    Quote Originally Posted by honeb View Post
    also check out forex bastards.
    is this true? and is this really a bad thing?
    "From: John, USA
    Rating: SCAM
    Date of Post: 08/13/06
    Review: Did you people read Oanda's trading agreement. In the trading agreement it is stated that Oanda trades against its clients. They have a fund for that! ... READ THE TRADING AGREEMENT .. cheers".
    honeb,

    This is NOT true. OANDA does not trade against our clients, OANDA hedges all client positions so OANDA's revenue is not correlated to whether a client is profitable or not.

  4. #14
    Join Date
    Dec 2006
    Posts
    99
    Quote Originally Posted by andress View Post
    honeb,

    This is NOT true. OANDA does not trade against our clients, OANDA hedges all client positions so OANDA's revenue is not correlated to whether a client is profitable or not.

    when Oanda hedges, does this mean Oanda takes the opposite trade to their clients. so, if their client wins then Oanda looses? right? and if so then that would be Oanda would have a huge interest trying to protect themselves against profitable traders. right?

  5. #15
    Join Date
    Nov 2006
    Posts
    2
    Quote Originally Posted by honeb View Post
    when Oanda hedges, does this mean Oanda takes the opposite trade to their clients. so, if their client wins then Oanda looses? right? and if so then that would be Oanda would have a huge interest trying to protect themselves against profitable traders. right?
    Honeb,

    No, that is incorrect. OANDA does not profit from its customers trading at a loss since we hedge our customers' aggregate positions. For example: If the aggregate customer position is $100M on the EUR, then OANDA will also be long $100M on the EUR. If the EUR goes up and the OANDA traders make a profit, then OANDA will make the same profit because it has (more or less) the same position. Alternatively is the EUR goes down and our traders have a loss, then we will have the same loss. (It is for this reason, that OANDA does not profit from customers' losses.)

    We want all our customers only trade with a profit, because that would lead to increased trading, and thus increased volume and revenue for OANDA since we profit off the spread.

  6. #16
    Join Date
    Dec 2006
    Posts
    99
    I see now. thanks for filling me in. very informative.

  7. #17
    Join Date
    Feb 2007
    Posts
    21
    Quote Originally Posted by forexcranium View Post
    saxobank is a pretty good bet. I would recommend going over the forexbastards review site on brokers, but it seems its getting a little too cluttered with info. n_aftab has a good point, there are other threads in this forum that talk about brokers. Also, it depends on what kind of trading you are going to be doing?...spreads on the GBP, EUR...etc
    Well...We all know what type of traders(news traders ) post their reveiws on forexbastards.com . felixbastard makes every other company look like crooks except his. dont fall for these crap guys, please make your own judgment by getting your information through more unbiased sources.

  8. #18
    Join Date
    Feb 2007
    Posts
    21
    Quote Originally Posted by andress View Post
    Honeb,

    No, that is incorrect. OANDA does not profit from its customers trading at a loss since we hedge our customers' aggregate positions. For example: If the aggregate customer position is $100M on the EUR, then OANDA will also be long $100M on the EUR. If the EUR goes up and the OANDA traders make a profit, then OANDA will make the same profit because it has (more or less) the same position. Alternatively is the EUR goes down and our traders have a loss, then we will have the same loss. (It is for this reason, that OANDA does not profit from customers' losses.)

    We want all our customers only trade with a profit, because that would lead to increased trading, and thus increased volume and revenue for OANDA since we profit off the spread.
    Do you really beleive this guy?. If he's telling the truth Oanda must be the only broker who do this.
    Last edited by senaka7; 02-17-2007 at 05:22 AM.

  9. #19
    Join Date
    Dec 2006
    Location
    Wichita Falls, TX
    Posts
    2,805
    Quote Originally Posted by senaka7 View Post
    Do you really beleive this guy?. If he's telling the truth Oanda must be the only broker who do this.
    Yes, I do believe him. And I very seriously doubt that Oanda is the only one doing that. The absolute last thing brokers want is large net exposures, which is what they could have if they just took the other side of customer positions. They are in the business of providing transactional opportunities to their customers - for which they get paid (spread and/or commission). They are not (in the vast majority of cases) trading for their own account.

  10. #20
    Join Date
    Dec 2006
    Location
    Estonia
    Posts
    42
    A question was tearing me appart for about 2 years allready.....i know it`s stupid......but anywayz!
    Can a brocker(is there any?) afford to pay up to a succesful(VERY SUCCESFULL) trader lets say....100000000$ MONTHLY?
    (if you`re to lazy to read all the zeros, than thats 1 hundred million$)

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