ive done plenty of research looking at lots of brokers now and have no doubt that oanda are one of the best, if not THE best. and i would have opened an account with them long again, but for 2 things which are by now very well known..... trailing stop....leverage.
50:1 leverage is nowhere near enough, even more so for my very short term high value trading.
trailing stop. well this is just a common sense feature that any broker who claims to want to help their traders to profit should have had years ago. for a broker that many think was well ahead of the game with account interest, micro lots, pipettes etc etc they have overlooked the feature which is probably more important than all of that combined.
however i come with good news. they are now introducing a trailing stop, probably after thousands upon thousands of requests over the years. i am told it is due to be put on the fxgame platform in late november though, so dont expect ti be able to use it live until next year (i dont know how long things take to go from fxgame to fxtrade but i doubt its going to be less than a month).
unfortunately 50:1 is a major sticking point for me. I use 400:1 with fxsol and it enables me to comfortably trade $0.50/pip with only $50 in the account. 50:1 with oanda using the same pip value requires over $150 in margin alone! even 100:1 would be enough for me to go with oanda, but alas they dont seem to have any intention of increasing it.
at the moment it seems im stuck with fx solutions and the constant requotes. also just noticed at 11pm GMT when entering a limit order, the MINIMUM TP and stoploss is 25 pips despite the spread being 3-4 pips, their excuse is volatility.......an hour after new york close?!?!?! 2 hours before tokyo opens?!?!? whatever.
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I like the 3H chart and have no problem with it, until I begin communicating with other traders on the basis of that chart; lack of a 4H has always been a slightly-more-than-petty - but really the only - annoyance with Oanda.
Oanda
Linear Mode
