Hey guys,
I did my research and learnt these two companies are trustworthy, hopefully.
In this case, I was wondering whether to choose FXCM or OANDA as the preferred platform and if any professional traders have any issues with them ?
Thank you for your time.
Both are certainly big, well-known and widely used.
I’ve used Oanda for a long time (no issues at all with them - I like them).
I haven’t used FXCM but I know many posters here use them. They recently stopped trading in the USA - I can’t remember why, but you might want to check out what that was all about - just in case they were “closed down by the authorities” or anything nasty - before opening an account with them, even if you’re not in the USA yourself?
I can’t directly compare the two, but I can recommend Oanda, from long experience, if that helps.
Lol, it was a bit nastier than just that!
Regulators worldwide have been saying the same things about FXCM and fining them the same multi-millions for as long as anyone can remember, and all for stuff directly related to their honesty and dealings with their customers. Nobody with a real choice is going to choose to open an account with a company like that unless they don’t ever check their regulatory record. (That might be quite a lot of people, though, I suppose? Good to ask in forums!).
I also like Oanda.
Hi Ben,
You’ll find many traders on BabyPips using FXCM who would be happy to share their experience trading with FXCM. As of our September 2017 monthly metrics release, over 122,000 active accounts traded with FXCM. And you’re welcome to ask me any specific questions about FXCM if you have any.
And as always, all the best with your trading!
Jason