Position value - please help!!!

[rhodytrader]

Oanda will not allow you to enter a trade larger than your available margin. In fact, the platform even tells you how large a trade you could put on.

[ukvipersden]

Originally Posted by rhodytrader

Oanda will not allow you to enter a trade larger than your available margin. In fact, the platform even tells you how large a trade you could put on.

thanks rhody. so just to sum up: opening up a position on GBP/JPY for 10,000 units would require approx margin of £200 give or take? that i can live with. i was getting worried there! also, do you have any experience of oanda as a client? i know they give tight spreads but i have read on thr forum that their trading platform has been having problems as of late.

[rhodytrader]

I have used Oanda for many years, both for trading and for teaching (including in the university classroom) because they don't have fixed lots or minimum account sizes, making them perfect for new traders.

[ukvipersden]

Originally Posted by rhodytrader

I have used Oanda for many years, both for trading and for teaching (including in the university classroom) because they don't have fixed lots or minimum account sizes, making them perfect for new traders.

and their trading platform seems ok? i have of late of problems with being unable to log in and widening of spreads over the last few weeks? i could be wrong, it's difficult to decide. i just want a reliable client that treats me right. do they accept uk customers? thanks again.

[daydreamer65]

Hi ukvipersden

I live in the UK & have used Oanda for nearly 12 months, in demo form & a live account.

As rhodytrader "they are perfect for new traders"

But in volatile periods such as last week the demo account
tends to crash, with the live account I have no problems.

I do not feel that this should influence your decision to start
to trade with Oanda though.

:wishes:

Edited to say pips do widen at volitile times this happens with all
brokers though.

[ukvipersden]

Originally Posted by daydreamer65

Hi ukvipersden

I live in the UK & have used Oanda for nearly 12 months, in demo form & a live account.

As rhodytrader "they are perfect for new traders"

But in volatile periods such as last week the demo account
tends to crash, with the live account I have no problems.

I do not feel that this should influence your decision to start
to trade with Oanda though.

:wishes:

Edited to say pips do widen at volitile times this happens with all
brokers though.

thanks DD and also thanks rhody. DD, did it take long to open an account. from what i can see you have to print out quite a few adobe docs and post to their new york address. and then they require passport/Driving Lic for identity. did you actually send these in the post??? thanks.

[daydreamer65]

did it take long to open an account

Wow this is testing my memory banks. I traded a demo acount for a while
to get a feel etc.

At this time I decided to open a live account so if & when the time arose
I was ready to go live.

If I remember correctly I emailed "jpged" copies of all the relevent details
to their email address, it then took 24hr to clear.

I also chose to deal in dollars because my paypal account is in dollars.

Sorry I cannot be more precise but it does seem a lifetime ago. :lmao:

[ukvipersden]

thanks DD, maybe i will contact them by phone first.

[daydreamer65]

thanks DD, maybe i will contact them by phone first.

I have just taken a look at the site & now I remember I faxed the info.

:wishes:

[ukvipersden]

Originally Posted by daydreamer65

I have just taken a look at the site & now I remember I faxed the info.

:wishes:

and did they accept fax copies of passport/driving license. they seem to imply they want the actual real copies which i would be reluctant to send.