Forex.com vs OANDA - U.S. Regulated Forex Brokers Comparison
Forex.com vs OANDA - U.S. Regulated Forex Brokers Comparison
FXCM vs. OANDA | 2020 Forex Brokers Comparison | DailyForex
FXCM vs. Oanda - ForexYesTrading-Course
OANDA vs. FXCM - Investopedia
FXCM vs OANDA 2020 - ForexBrokers.com | Online Forex
Oanda's spreads are HUGE Part 2
In my first post I compared Oanda's spreads to other legitimate brokers. I received criticism (see below) because I compared spreads on the weekend and brokers with different business models (Market Makers vs ECN). In this post I used the same mechanics to compare brokers, except I used average spreads, not current, from 30/11/16 20:07 GMT+3 to 6/12/16 20:07 GMT+3, and included comissions into the spreads. Oanda: 1.50 FXCM: 1.16 Forex.com: 1.96 Pepperstone: 0.90 Darwinex: 0.94 IC Markets: 0.85 Exness: 1.14 RoboForex: 1.01 Although Oanda's spreads have reduced and are smaller in comparison to other brokers, broker spreads ranking hasn't changed. Oanda has the second highest spreads after Forex.com. IC Markets has nearly half the spreads of Oanda's, even after including commissions. I am leaning towards opening an account with Pepperstone or IC Markets more than ever before.
Although spreads are a major factor in choosing a broker, they do not represent execution quality, slippage, or any other fees of a broker.
While this is true, why open an account with Oanda over Pepperstone, for example? Hall of Criticism NormanConquest:
You're doing it wrong. Never in 3 years as an Oanda client have I seen eurusd with an 8 pip spread. When we're you looking, Sunday night? Eurusd is usually around 1.2 pips, sometimes less than 1. However you're finding them, it's not reporting them right.
You can't just compare spreads with brokers using different business models. http://prntscr.com/d3tjme If you look at the spreads of ICMarkets (I use) and Oanda, they don't differ by much really. That's because you need to integrate the commission ICMarkets charge and integrate it into the spread. Once you do, they don't differ by much.
I'm American and specifically asking about using FXCM or Oanda as an individual investor. Since a lot of people here use them, do you know if I can trade pairs without using margins, or at least with minimal leverage? My reason for getting into forex is that I want to take a position against China and short the yuan, but I am not looking at this as a short term position, I am thinking I might hold it for 2-3 years. I don't want to rack up a bunch of interest/fees. I would rather just buy outright shares of USDCNY or USDCNH as if it were a stock, and if the yuan drops vs the dollar, the price goes up and I make money, or vice versa. So am I crazy or is this possible?
ECN. Used most by professional traders. Difficult platform for beginners
Minimum deposit $10000 (or $3,000 if under 25yo) * Well diversified -Oanda
Market maker. Second largest retail FX brokerage in the US. Easy platform for beginners.
No minimum deposit
Not well diversified, but well capitalized -Gain Capital (whitelabel forex.com) *Market Maker *Fair spreads *Minimum deposit $250 *Well diversified -FXCM Inc
ECN. Largest retail FX brokerage in the US
Minimum deposit $2000
Not well diversified. CAUTION: FXCM nearly went bankrupt in Jan-2015 due to a lack of diversification and low capitalisation. As a result FXCM LLC was bailed out with a large loan which may prove difficult to pay back. Be warned that their business may not be sustainable in the long term. -MBTrading
ECN. Mid-sized retail FX brokerage
Minimum deposit $400
International Only- -LMAX (whitelabel DarwinEx) *DMA broker based in the UK. Note that as a DMA broker LMAX eliminates the ability for LPs to last-look transactions. This may result in reduced liquidity during volatile times as liquidity providers would be likely not to risk posting liquidity to LMAX's pool. *Tight spreads *Minimum deposit $10,000 *Fairly well diversified -Dukascopy *ECN based in Switzerland, but available elsewhere depending on local regulations. *Tight spreads *Minimum deposit $100 *Fairly well diversified -IC Markets *ECN based in Australia *Fair spreads on standard account, tight spreads on professional accounts. *Minimum deposit $200 *Fairly well diversified -Pepperstone *ECN broker based in Australia. *Fair spreads on standard account, tight spreads on professional accounts. *Minimum deposit $200 *Not well diversified Software / Apps: Desktop/mobile
Apps are typically broker dependent. Some brokers have their own proprietary software, while others lease common software like Metatrader or NinjaTrader. Some software has a large development community for indicators and EAs.
Terminology/Acronyms: www.forexlive.com/ForexJargon - Common terms and acronyms FAQ: I need to exchange money, how do I do it? This isn’t what this sub is for. Your best bet is using your bank or an online exchange service. Be prepared to pay a hefty fee. I have money in one currency and need to exchange it into another sometime in the future, should I wait? Don’t ask us this. We speculate intraday in FX and shouldn’t be relied on to tell you what’s best for you. Exchange the money when you need it. I have an FX account, should I start trading demo or live? This is highly debatable. You should definitely demo trade until you have mastered how to use the trading platform on desktop and mobile. After that it’s up to you. Many think that the psychology of trading live vs demo trading is massively different. So it may pay to learn to trade live. Just be warned that most FX traders lose almost their entire first account so start with a low affordable balance. What’s money management? Money management is a form of risk management and is arguably the most important aspect of your trading when it comes to long term survival. You should always enter trades with a stop loss - the distance of the stop allows you to calculate how large of a percent of your account balance will be lost if your trade stops out. You can run a monte carlo simulation to figure out the risk of having a number of trades go against you in a row to drain your account. The general rule is that you should only risk losing 1-4% of your account per trade entered. More on this here: www.investopedia.com/articles/forex/06/fxmoneymgmt.asp www.swing-trade-stocks.com/money-management.html What about automated trading? Retail FX traders have been known to program “Expert Advisors” (EAs) to automate trading. It’s generally advisable to stay away from that until you’re very experienced. Never buy an EA from a developer because the vast majority of them are scams. What indicators are best? That’s up to you to test and find out. Many in this forum dislike oscillating indicators since they fail to capture the essence of what moves price. With experience you will discover what works best for you. In my experience indicators that are most popular with professional traders are those that provide trading “levels” such as pivot points, fibonacci, moving averages, trendlines, etc. What timeframe should I trade? Price action can vary in different timeframes. In longer term timeframes the price action and fundamentals are much more clear. Unfortunately it would take a very long time to figure out whether or not what you’re doing is successful on longer timeframes. In shorter timeframes you can often tell very quickly if what you’re doing is profitable. Unfortunately there’s a lot more “noise” on these levels which can prove deceptive for those trying to learn. Therefore the best bet is to use a multi-timeframe analysis, working from top-down to come up with trades. Should I trade using fundamental analysis (FA) of technical analysis (TA)? This is a long standing argument in these forums and elsewhere. I’ll settle it here - you should have an understanding of both. Yes there are traders who blindly ignore one of the other but a truly well rounded trader should understand and implement both into the analysis. The market is driven in the longer term through FA. But TA is necessary to give traders a place to enter and exit trades from a psychological risk/reward standpoint. I’ve heard trading Binary Options is an easy way to make money? The general advice is to stay away from binaries. The structure of binary options is so that when you lose the broker wins. This incentive has created a very scammy industry where there are few legitimate binary options brokers. In addition in order to be profitable in binaries you have to win 55-65% of the time. That’s a much higher premium over spot FX. Am I actually exchanging currencies? Yes and no. Your broker handles spot FX is currency pairs. Although they make an exchange at the settlement date they treat your position in your account as a virtual currency pair. Think of it like a contract where you can only buy or sell it as a pair. In this sense you are always long one currency while short another. You are merely speculating that one currency will appreciate or depreciate vs another. Why didn't my order fill? Even if price appears to cross over a line on your chart it does not guarantee a fill. Different charting platforms chart different prices - some chart the bid price, some the ask price and some the midpoint price. To fill a limit order price needs to cross your limit's price plus the spread at the time that it is crossing. If it does not equal or exceed the spread then it will not fill. Be wary that in general spreads are not fixed. So what may fill at one time may not at another.
Forex.com vs OANDA – U.S. Regulated Forex Brokers Comparison By Daffa Zaky February 26, 2020, 1:17 pm • Posted in Brokers News The forex market is usually a volatile one. nd Oanda are two prominent forex brokers who have been in the online trading business for many years. Oanda’s first data feed went live in 1997, while FXCM was founded shortly thereafter in 1999. In this FXCM vs. Oanda review, we outline the highlights of each trading platform to help you make a more informed decision. We evaluate: OANDA provides traders 71 currency pairs (e.g., EUR/USD) compared to FXCM's 39 available pairs. Forex pairs aside, OANDA offers traders access to 53 CFDs while FXCM has 32 available CFDs, a difference of 21. Overall, between FXCM and OANDA, FXCM is the better forex broker. FXCM Review OANDA Review FXCM and Oanda are two prominent forex brokers who have been in the online trading business for many years. Oanda’s first data feed went live in 1997, while FXCM was founded shortly thereafter in 1999. In this FXCM vs Oanda review, we outline the highlights of each trading platform to help you OANDA vs. FXCM Superior execution quality vs. a laser-sharp forex focus. OANDA made its name in the forex market, offering individual investors access to spot forex and CFDs since 1996. While
30-50% profit as a US forex trader at OANDA. My US hedge forex trading strategy shows the way. - Duration: 32:00. Ryan Brown 13,377 views Forex com Review 2020 - Pros and Cons Uncovered Forex.com was founded in 2001 and it is a global forex broker. It is regulated by top tier regulators, like the UK FCA or the US CFTC. Forex.com is ... 95% Winning Forex Trading Formula - Beat The Market Maker📈 - Duration: 37:53. TRADE ATS 1,188,162 views. 37:53. My Tradingview Setup For Forex - Duration: 28:53. Forex Basics - Lot Sizes, Risk vs. Reward, Counting Pips - Duration: 36:25. Kingdom Kash 438,359 views. 36:25. Lesson 7: What is a pip worth in forex? Trade sizes and more ... Here's more on the FXCM story: http://www.financemagnates.com/forex/... For more information on brokers and other cool things for traders, visit www.daytradersfx.com