Has anyone any experience of OANDA’s FXGame versus their FXTrade platforms. Are they essentialy similar in performance. Have traded successfully and got used to the Game platform and am tempted to open a real account.
For example is fill time/ slippage similar, are the spreads the same, and are the quotes at or about fair market rather than lagging or leading fair market (depending on ones position).
Have noticed these problems on other demo platforms which are easier to trade profitably on compared to the corresponding real platform. Last one I tried was Etoro…their real platform represented highway robbery!
I have been with Oanda for 5 years and had no problem. I always put the exact same trades on both - game and real trade. The results are very close. The reason I say that they are close is because in the real account, if you preset the take-profit and stop-loss orders, they are normally filled at the price you requested. However, in the game account, they tend to be filled at the best available price close to the one you requested, but within a very reasonable range; mostly, within a pip. (e.g. preset eur/jpy stop-loss at 123.45, and filled at 123.445 or 123.457.) Other than that, I don’t see other major differences.
Send in the money to fxtrade, as little as you can comfortly accept if the worse happens, and see it for yourself.
I’ve been in forex since 2001 and, believe me, the only way for anyone to find out what they want to find out of certain broker is by sending them money. But not all the money you have, or planned to. As little as possible, then get a first hand experience with them.
Just like the best system in the world, what’s work for me may not work for you. Or, even if it does, we may not have the same result.
So, give it a try. If it doesn’t satisfy you, you can always change broker since you didn’t put all your money in the first one.
Well, during the past few days, I began to notice the difference in spreads betweeen the Oanda Game and Live accounts. At 8:00 GMT (London open), 1/2/09, according to the holiday trading messages posted by Oanda, they would resume the normal spreads at London open. It was so for the Game platform. EUR/JPY 4 pips, EUR/GBP 4 pips. Still wider than normal, but ok. However, in the Live accounts, EUR/JPY and EUR/GBP both had 15 pips spreads.
This morning, again at 8:00 GMT (London Open), 1/5/09, in the Game accounts, EUR/JPY spread was 2 pips. However, in the Live accounts, its spread was 4 pips.
This is actually something new to me. I would suggest that you ask Oanda about this if it concerns you before you open a Live account.
Hey guys!
If I want to trade based on candlestick patterns, I just can’t with Oanda?
I’ve been trying Oanda’s FXGame and I couldn’t find a candle chart…I hope it’s just because I’m impatient.
liquidity is still patchy out there across various instruments ubenDallas.
Interbank portals are continuing to display irregular spreads (thru volumes) in comparison to normal trade activity.
retail shops will obviously need to cascade these costs down to their clients until conditions begin to return to a more ‘normal’ footing.
The higher participation pairs (majors) should be a little more in line, but to be honest even EURUSD has struggled early on in the week at varying times throughout the day.
Most of the big hitters begin filtering back to their desks next week.
the real test of a brokers capacity to offer a consistent pattern of service will be when you begin to increase your trade size on a proportionate basis.
most of the long standing retail shops are ok whilst you’re playing around with reasonably small size. Their true colors will be revealed however when you start upping the ante.
0.3 to 0.7mill ($30-$70 per pip) particularly if you’re operating a decent % return game plan won’t bother them too much, but much beyond 1.0-1.5m upwards with a good, risk balanced strategy & you then begin to see just how professional an outfit you’re really doing business with.
