guys i am unable to find euro and dollar index in oanda. can you help me?
please do oanda provide us index trading? any help will be appreciated. thanks
I can only speak for Oanda US Division. They do not offer the traditional US Dollar Index or Euro Index. But if you want to trade equal weighted indexes like DJFXCM Dollar Index or the “Total Forex” Indexes like shown on Forex Ticket website and Lite Forex SIGTrader, it is not too difficult to create a “synthetic” index using Oanda’s FXtrade software. Just go in and set the trade default position size to a particular dollar amount, and open your trade one spread at a time. There’s also a “close all positions” button.
Also, Oanda offers basket trading via an FXUnity account. Although they no longer offer this to US accounts, I had access several months ago and remember they had some trade weighted baskets in there, but the weightings were different than US Dollar Index or ICE Euro Index. Believe Oanda had plans to expand the functionality to let users create their own weighted baskets. Not sure if that ever happened.
UPDATE: Sorry, I gave bad info. Oanda has since shut down the FXUnity platform due to negative feedback from customers. That’s too bad. Although the platform charting/graphics was so simplistic as to be useless, the idea of letting traders take positions in self-adjusting percentage weighted baskets versus individual contracts was a quite sophisticated and innovative idea. But FXUnity was launched as a social trading platform. They should forget that part (Mirror Trader already does it better) and launch a new platform that lets traders create their own currency baskets.