Gotcha. Yeah that doesn’t sound too bad at all. Hopefully I will never have to get in touch with any of these brokers’ customer service reps.
Thinking of opening an Oanda account also but maybe after my 10 week challenge lol. I found out from a friend that they let you trade weird individual lots so that’s interesting.
Hmm see that’s something to look into as well. I still have a forex account though I just barely use it and I prefer their calendar vs Oanda actually which is why I kind of use them hand in hand.
What do you use to trade? For Forex I’m pretty much just using their app. Haven’t really tried MT4/TV/native desktop platform.
I use Oanda version of Trading view. I can’t get behind the MT4 visually it bothers my eyes honestly lol though it’s easier to assemble EA’s and what not if your going that path. I’ve only been using Oanda native app on (my phone, ipad & my macbook). Usually just use the ipad & mobile to monitor trades on the go if anything. I do my main setups off my macbook.
I have always used their web-based platform and am very satisfied with it. It is a Trading View derivitive, it seems, and, honestly I run Trading View because it does have more bells and whistles. You can load the Oanda data onto Trading View, and can place trades on either.
See I haven’t done that yet I’ll probably PM more in depth with that actually. I haven’t opened a trading view yet.
Exness are really bad generally in my experience. I won’t be going back to them.
You know that OANDA comes with a high risk of losing money quickly due to its leverage, right. So this is the matter of risk to me. But if you are experienced and feel pretty confident so why don’t you give it a try? At least it the platform looks nice.
You can change the leverage on Oanda first off (it’s your choice if you choose the maximum leverage offered 50:1)
As long as your sticking to your trading strategy and risking what your willing to lose per trade leverage shouldn’t really matter since it’s used more of a jumping pad to have more lead way to open other positions.
All of trading is technically high risk so there’s that.
I’m using Oanda’s demo web platform. I’m can’t go lower than 10x leverage. How about you?
I do like that I can enter whatever units I want when setting up my tradd. I don’t think all brokers offer this.
To throw a wrench into the mix, doesn’t TD Ameritrade also offer FX trading in the US?
We need @Forex.com to tell us why they’re better than everybody else. Ha!
No i believe 10:1 is the lowest offered.
I believe TD does fx trading not too familiar about it. Yeah I do like the ability to trade any amount of units.
Are you guys discussing actual leverage used? In which case regardless of the account maximum leverage you can always use 1:1 leverage. This would be down to your position size.
If anything a higher maximum account leverage could work in your favour as the margin requirement would be reduced.
Don’t think TD does Forex?
Just Forex.com, Oanda, Interactive Brokiers and IG in the USA, I believe?
Forex.com isn’t as generous as Oanda because it’s more basic. Oanda even seems to track the spot market more accurately (has honest tells that other brokers seem to try to avoid being posted) in the 1-minute charts and pip-by-pip volume charts.
Ah ok I’m not familiar with TD really when it comes to forex.
I’ve heard those you’ve mentioned in addition with Ally Invest, Pepperstone for US clients.
@BaconSandwich, you are 100% correct.
@momoisnyc and @mtb_rex, you may find a post about leverage we made in an earlier discussion helpful in better understanding the difference between your effective leverage and the maximum leverage available to you. While the former is what matters, you both seem overly preoccupied with the latter.
Perhaps those clear through Gain Capital and are legal here in US?
which broker recommend for big account oanda or forex. com? Such as 100k-300k account
Early this morning (6am local) I had an online chat session with Oanda’s Customer Service. They replied super fast & walked me through everything I needed to know. I haven’t tried to withdraw with them yet though & it seems like there are a few small hoops to jump through, but I’m not expecting any issues. Oanda has been just fine, so far. I’m expecting to attempt a withdraw soon & you can bet I’ll update my input here per the results. I’m using the MT4 platform w Oanda, btw, because some of the indicators I like haven’t been coded for MT5 yet.