Is Oanda’s practice platform good? There’s no time limit apparently.
Any advice?
With unlimited usage of Demo for MT4, you can try the broker i am live with.
stifxonline.com
Oanda is good though, but never tried it to be true.
Oanda makes for a great demo account. My only complaint is their charting and the $600/month API fee if you ever decide to automate your trading strategy.
I have been using Oanda just to enter trades with and MT4 for charting my favorite pairs since Oanda’s charts lack a 4 hour timeframe which is what I use. I would still go with the broker that you intend to use with real money after your demo trading because you don’t want to get experience with a charting platform that you don’t intend to use. The best thing about Oanda is that you can trade any lot size and you can set your demo amount to any amount starting with $1000 and up.
Topgun
I’m a fan of Oanda’s demo and I like their charting. One thing I can’t find on there though is fibonacci tools, which I like to use -
Thanks all for the advice.
I must say it’s hard to “decide” which broker you’re going actually choose before even having ever demo traded. But I think I’ll demo trade on several platforms before I get my system running.
Do many traders use 2 different platforms, one for trading and another for charting? (because of problems like Oanda not having any Fibonacci tools for example)
Does the Oanda platform have some kind of e-mail or phone alerts?
About automation, I don’t know but I guess it is a big plus if it allows you to trade on the long term wihtout ruining your family/social life or experiencing burnout. (seeing a friend of mine daytrade on the stock market for 3 months a few years ago had me convinced that it was a crazy thing to do and not viable)
I can suggest a demo for you - it is the finest out there and the same platform is the one you do live trading with. 
There is no time limit and your live platform remains open even with no money in it.
It is indeed the Rolls Royce of platforms - you can do anything with it. A high integrity forex broker too!
Only one problem for you (maybe)…it is in Sydney, Australia.
Here it is…Best Forex Trading - Broker Forex - Chart Forex - Contact Us
Regards, Tymen Wortel, Perth, Western Australia.
Only one problem for you (maybe)…it is in Sydney, Australia.
Why would that be a problem? (I’m in old Europe by the way)
Thanks for the tip.
P.S. I’ve found this on their website: "By submitting this form you will be receiving IDs to access a free, [B]30-day[/B] demo trading account with a hypothetical starting balance of $50,000"
So there is apparently a time-limit
Try Forex trading with Alpari. Online foreign exchange trading. Forex news, charts, analysis. I think this is what you are looking for. No time limit, metrader charting, good spreads.
Good luck
oanda actually has fibonacci tools. It has fibonacci retracement, fans, pivot points, and time frames.
In fact I’d like to see on the same screen 2 different tools, like on the screenshots shown in the tutorial section (ex: http://www.babypips.com/school/images/divergences/rule4-m.png. I think these were made with XTick, which is a commercial package.
Can a free package like MetaTrader4 do the same thing?
To Altar :
The site in Syney I told you about says a 30 day time limit - but that is only a formality. The truth is that you keep your demo accont indefintely.
I should know - they are my broker!
So you would have no worries if you picked them.
Kind regards, Tymen Wortel, Perth, Western Australia.
Metatrader has very good Fibo tools as we’ll as alerts that can be sent to email or cell phone. I use 4 hour charts so I have alert sent to my cell phone when certain conditions are met. Essentially Metatrader has everything you could ever need in a platform so the real question is would you want to be able to have a broker who uses them for automatic trade execution or would you prefer to use a simple broker like Oanda which is geared for the newbe and just use metatrader for charting. There are dozens of Metatrader brokers (See Attachment) but I just went with Oanda because they have a good reputation.
Topgun
MetaTrader Brokers List 01.03.07.pdf (94.4 KB)
Topgun
Since you use oanda for placing trades. which platform do you use meta trader with…i mean, can one use metatrader in isolation - without a platform?
and,
what are the comparative sdvantages of oanda?
i use the MT4 in northfinance, does anyone have anything to say about them?
The advantages of Oanda are listed at the below link. I do use MetaTrader standalone through a DEMO account which never expires. I have Metatrader email me alerts to my cell phone if I cannot be in front of the computer then I place my trades through Oanda. I hate how Oanda doesn’t have 4 hour charts or certain indicators that I like so thats why I stick with MT.
Topgun
This gives unlimited demo…
It is axitrader.com.au on Metatrader 4
Once installed with the default account you just go to Metatrader
Accounts create new and it will create a new account.
You can have several accounts with different starting balances and different leverages.
If they close an account after three month’s it dosent really matter because you have probably closed it yourself by then and are using some of the other accounts you have opened.
You can use this thing for years.
axitrader.com.au
Best O luck.