Heya guys, i know Oanda is quite popular, what are your thoughts of it. I am thinking of deploying an EA on Oanda for scalping purposes, purely to get 2/3 pips a trade.
I am quite happy with a few pips if it is consistent 
Cheers
I’ve been demoing them for the last month, and they definitely have low spreads. Their demo platform tends to be slow with order processing, but I just created a real account with them (just finished uploading the documents). I’m hoping their live MT4 server is more responsive, but it’ll be another month or so until I know for sure. I plan on putting the SmartFX EAs on them, and possibly Black Belt EA. I like the fact that they are well known and have an office in Canada (as well as other countries).
IBFX has been good to me as well, their order execution and customer support is top-notch, their spreads are more middle of the pack however.
Hello, I’ve been using Oanda since 2 years ago, and for me it is very quickly in the order execution, and very easy to use. The only lack that I see is that the charting tool is not so good with few history data, and no more than dayly timeframe. I opened 2 wweeks ago the MT4 Trader platform with Oanda, but I didn’t use it yet for the EAs.
Regards
Thanks guys they sound great i was thinking of using them.
Ill start testing them on monday any other brokers u guys recommend that i should chwck out?
That’s what I was hoping to hear, I figured they didn’t waste a lot of resources on their demo platform and that’s why the order execution was slow. I should be able to deposit some funds and find out sometime next week
Thanks for the updates guys, S1L1KON would you mind letting me know how you get on with oanda, i am only planning to demo with them for the next few weeks but you both give positive reports on their live then it looks like i know who to go with
Part of my strategy includes scalping, so i need a broker. Cheers
What I liked about Oanda: I actually like their trading software, its quite user friendly and does some very sexy things that make MT4 seem cold and harsh…but odds are if your in this sub-forum you’ll be using a MT4 from Oanda so nevermind that 
Also a big pro, for Oanda Canada its insured up to 100K(iirc) in case of broker/bank collapse through the government.
What I didnt like about Oanda: As a Canadian I fell under the leverage required by law in Canada which is a pain in the ass table stating out differing margin % for each currency pair. Not arduous but something to consider.
As I moved more towards trading through EAs & signal providers I found most EAs(and especially once you are running a portfolio of EAs) made me worry about that leverage…hence the reason I ultimately emptied my Oanda account for other brokers.
Just my observations,
-Hamno
I guess I didn’t do enough research, I didn’t realize we had leverage laws. Do you have a link to that area of their site?
Who are you using for brokers now?
BTW, what part of the country are you in? I’m in Manitoba, and if you follow the NHL Go Jets Go!
Born and raised in Saskatoon but a whole “join the navy and see the world” career now has me in Halifax:)
As Canadians we fall under the regulation of the Investment Industry Regulatory Organization of Canada (IIROC) who set margin rates for forex that we must follow for brokers registered in Canada.
Oanda’s Canadian Margin Requirements are as such: Canadian Margin Requirements | OANDA fxTrade Canada
(I just dug up the last email Oanda sent me about changes to these rates, hence I actually sound knowledgeable first thing on a sunday morning).
Nowadays I have my main EA portfolio account running through Hotforex(@ 300:1) and I have a zulutrade account through AAAFX(@ 100:1). I have to be careful not to over trade, especially in the Hotforex EA portolio, but I find it far easier to manage this via a set margin instead of that table.
Thanks for the info. I guess the Margin requirement is a dependency on the IIROC’s ability to offer deposit insurance.
Saskatoon, eh? Nice city, even if most of the residents cheer for the Riders :30: