Analysis on cms demo and live trading on Oanda?

[pbenerjee]

I am going to open 1k live account with Oanda but their charting and tools suck. They don’t use MT4 platform. I am still greatly inclined to go with them because of their reputation of being “fair” and the flexibility of position size, which will be very handy for beginners like me.

My question is : Does it make practical sense if I

1. Do all my analysis on cms charts (which are really cool) using their demo account

AND

2. Use Alpari’s demo account to use indiactors and EA’s on their MT4 demo account (no robots for me pls)

AND

3. Trade LIVE on Oanda?? Am I right?

Can someone make an overall better suggestion?

Many Thanks,
Partho

[d-pip]

I am going to open 1k live account with Oanda but their charting and tools suck. They don’t use MT4 platform. I am still greatly inclined to go with them because of their reputation of being “fair” and the flexibility of position size, which will be very handy for beginners like me.

My question is : Does it make practical sense if I

1. Do all my analysis on cms charts (which are really cool) using their demo account

AND

2. Use Alpari’s demo account to use indiactors and EA’s on their MT4 demo account (no robots for me pls)

AND

3. Trade LIVE on Oanda?? Am I right?

Can someone make an overall better suggestion?

Many Thanks,
Partho

I have a live accounts with Oanda & CMS and demo with IBFX with MT4. My screens get a little crowded but it work!

[phil838]

I am going to open 1k live account with Oanda but their charting and tools suck. They don’t use MT4 platform. I am still greatly inclined to go with them because of their reputation of being “fair” and the flexibility of position size, which will be very handy for beginners like me.

My question is : Does it make practical sense if I

1. Do all my analysis on cms charts (which are really cool) using their demo account

AND

2. Use Alpari’s demo account to use indiactors and EA’s on their MT4 demo account (no robots for me pls)

AND

3. Trade LIVE on Oanda?? Am I right?

Can someone make an overall better suggestion?

Many Thanks,
Partho

I used an Oanda live account with an IBFX demo account for charting for a long time. It worked just fine for me!

[pbenerjee]

Thanks gents, for the replies

I was also curious to know if there is any bothersome difference in currency rates across demo vs/ live accounts, that too among different brokers?

I know spreads will be different but any appreciable difference other than that?

I don’t intend to do scalping or less than 15 min time frame trades.

[phil838]

Thanks gents, for the replies

I was also curious to know if there is any bothersome difference in currency rates across demo vs/ live accounts, that too among different brokers?

I know spreads will be different but any appreciable difference other than that?

I don’t intend to do scalping or less than 15 min time frame trades.

The difference between Oanda and IBFX is usually less than 2 pips, and almost never more than 5 pips.

Out of thousands of trades I can only recall one time that the price difference caused me to lose a trade, but I trade on 4H charts and above. You might have more problems with 15M charts, but nothing too annoying.

[pbenerjee]

[QUOTE You might have more problems with 15M charts, but nothing too annoying. :D[/QUOTE]

The strategies I am focusing on are atleast 1H and more, typically 4H and daily ones. 15 Minutes is just a fantasy for me, at this stage. So I guess pips difference is taken care of

Many Thanks

[pbenerjee]

Phil, bit of deviation but I will anyway go ahead.
How do you compare Oanda V/s IBFX ?

My money is still with me so I guess I can always ask that question.