As I noted in my previous post, the vast majority of brokers don't hold net positions so if someone is making money, they aren't making it at the broker's expense. Those profits come from the market, meaning other traders.
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
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".
I have been trading with oanda for several years and found them pretty trustworthy. The largest margin I put up was $80,000 and made huge in the hedge trade (GBP/JPY vs CHF/JPY) plus capital gains. For these long term trades, slippages don't mean a thing. As good as they are, Oanda's daily interests were no match to what I got from MAN Financial Singapore.
A month or so ago I began to experience platform irregularities at Oanda during news times. They widen their spreads in the fly. In one NFP trade I was slipped 25 pips whereas my identical trade at MAN Financial suffered only a 9-pip slippage. Then there was another occasion in which Oanda pulled me out of the market 6 pips from what their chart was showing. Of course I did not bother to protest. I just evacuated my funds, but left a few hundred dollars there just in case I may need to get back in. Withdrawing from Oanda is easy and hassel-free. I got my money within 36 hours, right in my bank account. (Has anybody tried to close his account at IgMarkets Singapore? Hahahahaha!!!)