Can you guys give me your view on OandA platform and trading? How do you rate this broker? Just some honest opions.: Would you use them?. I need a broker that give you the option of the time that your order expires.
I use them!!!:rolleyes:
The charts are very limited in comparison to other platforms. Evey thing else is A+. Many people will use a mt4 demo for charting and place orders with Oanda this works fine if you are not scalping 10 second trades. If you are doing that (you can with them) get used to the charts.
Hi Shr1k. I’ve been trading in demo with fxcm and after some research believe I would like to try Oanda. Any advice on where to get a good MT4 demo for charting as you mention above?
I’ve used them since I began live trading about a year ago and they’re great imho. Charting isn’t what you’d want is all, but I like many others use a MT4 demo for charting and Oanda for execution.
10/10 for Oanda…
I also use Oanda for execution, MT4 for charting =)
Hi people,
Maybe who are users of Oanda, would check for me something…
I want to trade USD/HUF Hungarian Forint, and EUR/HUF.
Would you check for me how many decimals they are using in these currency pairs?
I just signed up with FigFX, a live account, but they are horrible, they stealing your money…they use 4 decimals and not five, so they do the pips profit on 4 decimals…you can not do scalping on this…
Can you scalp on Oanda, will they use 5 decimals, and allow less than 2 minutes trades?
Thanks,
Bambura
Current OANDA Spreads and Pairs - OANDA FXTrade
They do have HUF I have no idea if 60 is a good spread:rolleyes:. Oanda does use 5 places on most pairs. You can scalp. Are you going to scalp HUF I am curious.
I have used Oanda for about a month. Here’s how I feel about them:
Pro’s
- Instant execution as far as i’ve seen
- no set trade amount. You can trade 1 unit to 10 mil units. Can’t see why anyone would want to trade less than 1000 units but you can anyway.
- easy account setup and withdraws look easy, although i haven’t done one yet.
Con’s
- Charts. I demo’ed about 10 different brokers before choosing and Oanda definitely has the worst. I have lost money a couple times because i traded without looking at a longer term trend. (my own dumb fault. I know) They only allow up to daily chart and it doesn’t go back very far.
- spikes - I can’t verify this because I haven’t looked into it all that much but it seems like their pricing tends to spike more than other brokers.
Overall Oanda has been good so far but like everyone else said: use and MT4 broker. On that note I’m using a demo with FXCM. Has anyone found anyone elses prices to be quoted closer to Oanda’s?
I just opened a demo acct over the weekend with Alpari UK. Their spreads during the NY session are very very good. The strategy I’m testing favors A.UK and given the fact that your funds are segregated from other accounts and insured by the Br. gov’t means I just might fund this acct if the strategy goes well.
I’m looking to switch brokers from IBFX to Oanda mainly because of the spreads and good execution so I hear.
IBFX has been good so I intend on using them for the MT4 charting while placing trades on Oanda’s platform.
Personally, I don’t mind Oanda’s charting. I trade naked (indicatorless that is;)) and find a simple interface much easier to use. I can attest to the instability of Oanda’s platform however which is one thing I will have to get used to however the low spreads and satisfactory customer service may make it worth it for me.
I don’t really have any experience with this broker, but from what I’ve read on the net, Forex Signs, which I use is better for it has better charts and doesn’t spike that much…Try researching more about this broker and I recommend that you speak to someone who actually uses this platform before opening any accounts with them
Oanda will make you use a cash advance when making a deposit with a credit card. Watch out. Other than this, they have good spreads. I use MT4 charts since the Oanda ones suck.
Spikes? Seems to me that the MT4 brokers price feeds I’ve looked at spike a lot more than Oanda. Just have a look at what happens during NFP.
As a longer time frame trader spikes don’t really matter much to me, but saying Oanda spikes a lot is incorrect as far as I’m concerned.
Oanda itself is great, the platform, very basic and buggy. News trading with them is terrible, but where isn’t it? The problem with using MT4 for Oanda charting is that the data feeds are from somebody else and they can be off a quite a bit. Plus, you get the added inconvenience of the need to use two platforms. You may as well just trade somewhere else.
For those die hard Oanda fans, which there are many :), there are a few alternatives. Esignal and FxSpyder. Both have their +/-'s and will cost you. Esignal is more advanced, and more difficult to use and program strategies. FxSpyder is easy to use and easier to program (JavaScript). If you are deadest on using MT scripts, I think both of them offer services for free conversion with accounts.
i am thinking of going from fxsolution to oanda. fxsolutions chart always gives me a problem when opening it up the charts are always freezing or just wont show up again. but for oanda one thing that helps alot is the spreads. i am looking for a company that had low spreads and sculping, if anyone can help find one with low spreads, good charting, good customer service and deposit/withdraw let me know.
Oanda and IBFX are almost always within a few pips of each other. In all my years of trading I can recall one time that I lost a trade because of data feed differences.
And if you use the pop-out feature on Oanda the two platforms mesh well together and fell like one platform.
Here is my setup using the two together…
I never had any idea that this could be done. Phil, how about a hint, where is the pop-out feature? d.
Here you go!
If you use the web-based platform it opens the new windows as browser pop-ups, which you have to manually resize and reposition every time, but if you download the FXDesktop application from the Oanda website and run that it saves the size/position of the windows!
Thank you very much, d.
Has anyone been having problems with the Oanda platform lately? I have been using an Oanda “game” account and today it continuously keeps disconnecting and giving problems. I looked around and it seems a lot of live traders are having the same problems with them as well. There is a huge thread on their website about this full of pissed off traders lol. Anyone here notice this?
Edit: here is the thread if anyone is interested: Forex Forums | OANDA fxTrade