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Opinion 0n Oanda forex broker?
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Opinion 0n Oanda forex broker?

  #1 (permalink)
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Opinion 0n Oanda forex broker?

Hello,

Anyone please give me an opinion on Oanda as a forex broker, or a better option?!

I'm a newbie, with only 5,000. and I live in the USA.

Thank you,

Joseph

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  #3 (permalink)
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I've never used them, but they are generally regarded as one of the best forex dealers as far as how they treat their customers and their spreads. Consider that most forex dealers trade directly against their customers, so you want to do considerable research on any potential candidates. With whatever dealer you choose I would also recommend you start with the minimum deposit and learn the games they play to steal your money so you can recognize it if starts happening to you. Good luck.

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Example of Games


vegasfoster View Post
I've never used them, but they are generally regarded as one of the best forex dealers as far as how they treat their customers and their spreads. Consider that most forex dealers trade directly against their customers, so you want to do considerable research on any potential candidates. With whatever dealer you choose I would also recommend you start with the minimum deposit and learn the games they play to steal your money so you can recognize it if starts happening to you. Good luck.

Here is a prime example of their games...STOP filled even though it was set a full tick higher than the highest reported price. Same thing happens with limit order...the spread will be a few ticks past the limit order, and no fill. Guess you just have to live with it.

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Oanda is really honest as compared to other Forex Brokers like FXCM and Forex.com. Oanda doesn't have the best charting platform, but the broker is honest and in excellent financial health. See the link below...and just for the sake of it...look up any other broker's data and decide for yourself.

BASIC Details

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Oanda is solid. I traded with them for a while, but I don't care for Forex. Equities futures are much easier to trade than Forex IMO.

You have to watch out for the fact that spreads vary rapidly depending upon economic news releases and those spreads go out to ten pips from two on the news and will take out stops.

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