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  • #5,361
  • Oct 26, 2018 9:07am Oct 26, 2018 9:07am
Hi I'm thinking into opening Professional 50k account with Oanda, can someone tell with that account how the spread is during Asian session? and are swaps any decent? Any info would be appreciated. FXCM spread is really good but commissions are $18 round trip on exotics...its crazy, so I'm thinking of switching.
  • #5,362
  • Oct 26, 2018 4:20pm Oct 26, 2018 4:20pm
Quoting Redbaron81
Hi I'm thinking into opening Professional 50k account with Oanda, can someone tell with that account how the spread is during Asian session? and are swaps any decent? Any info would be appreciated. FXCM spread is really good but commissions are $18 round trip on exotics...its crazy, so I'm thinking of switching.
I just closed my account with them today. I was with them from 2002 to 2008 and 2017 to today. To keep me with them, they offered to switch me over to the institutional platform (Currenex).

50k is a good starting balance. Currenex accounts require minimum 100k USD or equivalent. You also need to qualify as an ECP. if interested, you can email my former account manager at [email protected]
  • #5,363
  • Oct 26, 2018 5:41pm Oct 26, 2018 5:41pm
Quoting shellback
{quote} I just closed my account with them today.
Are you moving to other broker?

And if so, which one?
  • #5,364
  • Oct 26, 2018 5:46pm Oct 26, 2018 5:46pm
Quoting Bjnf
{quote} Are you moving to other broker? And if so, which one?
Interactive Brokers
  • #5,365
  • Oct 27, 2018 1:30am Oct 27, 2018 1:30am
Quoting shellback
{quote} I just closed my account with them today. I was with them from 2002 to 2008 and 2017 to today. To keep me with them, they offered to switch me over to the institutional platform (Currenex). 50k is a good starting balance. Currenex accounts require minimum 100k USD or equivalent. You also need to qualify as an ECP. if interested, you can email my former account manager at [email protected]
Shellback,

What is an ECP? Any specific reason for the switch to interactive brokers?

Thanks
  • #5,366
  • Oct 27, 2018 8:28am Oct 27, 2018 8:28am
quote=aaven;11630867]{quote} Shellback, What is an ECP? Any specific reason for the switch to interactive brokers? Thanks[/quote]
What is an 'Eligible Contract Participant'
An eligible contract participant (ECP) is a group or individual allowed to engage in financial transactions not open to retail customers. The Commodity Exchange Act outlines the requirements for eligibility, stating that those seeking to become eligible contract participants must have sufficient regulated status or a specified amount of assets. ECPs are usually corporations, partnerships, proprietorships, organizations, trusts, or other entities that have total assets exceeding $10 million.

https://www.investopedia.com/terms/e...articipant.asp
  • #5,367
  • Oct 27, 2018 10:38am Oct 27, 2018 10:38am
Quoting shellback
{quote}Currenex accounts require minimum 100k USD or equivalent. You also need to qualify as an ECP. if interested, you can email my former account manager at [email protected]
I will not qualify for ECP, I don't have 10 million in assets unfortunately I can only go with the 50K account as of now. What made you go with IB if I may ask? lower spread and or commission?
  • #5,368
  • Oct 27, 2018 11:20am Oct 27, 2018 11:20am
Quoting Redbaron81
{quote} I will not qualify for ECP, I don't have 10 million in assets unfortunately I can only go with the 50K account as of now. What made you go with IB if I may ask? lower spread and or commission?
Lower spreads and commission are not that important to me since I hold my positions for days, weeks or months.

As I grow older (50's), I just want to manage my trading/investing more easily. With IB, I can trade stocks, futures, options, FX, etc all under one roof.
  • #5,369
  • Oct 27, 2018 1:10pm Oct 27, 2018 1:10pm
Quoting shellback
quote=aaven;11630867]{quote} Shellback, What is an ECP? Any specific reason for the switch to interactive brokers? Thanks
What is an 'Eligible Contract Participant' An eligible contract participant (ECP) is a group or individual allowed to engage in financial transactions not open to retail customers. The Commodity Exchange Act outlines the requirements for eligibility, stating that those seeking to become eligible contract participants must have sufficient regulated status or a specified amount of assets. ECPs are usually corporations, partnerships, proprietorships, organizations, trusts, or other entities that have total assets exceeding $10 million. https://www.investopedia.com/terms/e...articipant.asp[/quote]

Thanks Shellback...
  • #5,370
  • Oct 28, 2018 11:07am Oct 28, 2018 11:07am
recently, i received an email from Oanda about account migration...............

Your legacy MT4 account password cannot be used for accessing your new V20 MT4 account. Once the migration is completed you will be emailed the server and account ID(s), and new V20 MT4 account password via a separate email for each new account.

........so i'll have to use the new account username and password given by Oanda ?..........do i have to provide a new email address too ?
  • #5,371
  • Oct 30, 2018 6:50pm Oct 30, 2018 6:50pm
Well In OANDA professional account you only get 10% on spread discount unless your doing 500 lots a month...so forget about that. Just for people wondering. Staying with FXCM.
  • #5,372
  • Oct 31, 2018 2:53pm Oct 31, 2018 2:53pm
Quoting shellback
{quote} I just closed my account with them today. I was with them from 2002 to 2008 and 2017 to today. To keep me with them, they offered to switch me over to the institutional platform (Currenex). 50k is a good starting balance. Currenex accounts require minimum 100k USD or equivalent. You also need to qualify as an ECP. if interested, you can email my former account manager at [email protected]
Who are you trading through now?
check out my blog: forexmademillionaire dot com
  • #5,373
  • Oct 31, 2018 9:15pm Oct 31, 2018 9:15pm
Quoting Geppy
{quote} Who are you trading through now?
Interactive Brokers. My account application was approved and the trading platform all configured, but having funding issues. I supplied the banking details twice for ACH/EFT but have yet to receive the 2 small test deposits to my bank account. Just contacted chat and was told it normally takes a week. If there are problems, someone will call or email. I will wait until early next week. If nothing happened by then, I'll just do a wire transfer.
  • #5,374
  • Nov 1, 2018 10:07am Nov 1, 2018 10:07am
I love OANDA but so much problems with the platform since last few months.
Am I the only one to have problems?
  • #5,375
  • Nov 1, 2018 12:46pm Nov 1, 2018 12:46pm
Quoting shellback
{quote} Interactive Brokers. My account application was approved and the trading platform all configured, but having funding issues. I supplied the banking details twice for ACH/EFT but have yet to receive the 2 small test deposits to my bank account. Just contacted chat and was told it normally takes a week. If there are problems, someone will call or email. I will wait until early next week. If nothing happened by then, I'll just do a wire transfer.
Gotcha, not an option for me as I don't have $10MM to trade. But I did trade with them in the past. Good for you!
check out my blog: forexmademillionaire dot com
  • #5,376
  • Nov 2, 2018 8:36am Nov 2, 2018 8:36am
Be careful with IB. I had a limit order with a stop loss on ZB set up as a OSO order overnight before I went to bed. The order executed in the middle of the night and when I got up the next morning I was still long, even though it had gone through my stop loss order. When questioned, they said that overnight orders are so thin that they do not recognize stop loss orders unless I had previously checked some box somewhere stating I wanted to execute stop loss orders overnight. So, they executed the limit buy, but ignored the stop loss. I closed the account.
Make sure you find that "box" to check if you want to execute stop loss orders overnight.
  • #5,377
  • Nov 7, 2018 2:26am Nov 7, 2018 2:26am
Never got reply from Oanda after live chat and told me they will reply by mail.Tried few times with several other country Oanda within a year but nothing.I will never trade broker with no replies.I can see there will be only problems there with lazy company.
  • #5,378
  • Nov 7, 2018 4:37am Nov 7, 2018 4:37am
Quoting Pierhh
Never got reply from Oanda after live chat and told me they will reply by mail.Tried few times with several other country Oanda within a year but nothing.I will never trade broker with no replies.I can see there will be only problems there with lazy company.

I've used Oanda before and think they are a good broker offering some great tools like eFXPlus, order book indicators and some solid research. But their spreads are not the best.

Trying out Pepperstone MT5 atm. Their offering $5 commission on their razor account with spreads tighter then Jack Schwager stop losses

Since Chris Weston joined their team they have been producing some great content and cool MT5 tools.
  • #5,379
  • Nov 10, 2018 11:08pm Nov 10, 2018 11:08pm
Quoting johnno8585
{quote} But their spreads are not the best.

This is an understatement

out of the three I utilize they price shade heaviest

Anyone using oanda should expect massive spreads when they spike prices in thin market

they are THE best at taking out the loosest of stops so I wouldn't go with this broker exclusively if you set and forget

If you use their desktop or online platform I highly suggest you overlay your candles or bars with low bid and high ask lines to get a feel for what they are capable of

regular bars or candles alone won't show their real price action
  • #5,380
  • Nov 11, 2018 11:47am Nov 11, 2018 11:47am
Anyone tried using their new function trading performance? I click and was not able to see any statistics. All statics were shown zero. It say I have no closed trade. Maybe cannot analyze past result. Only start now since v20 just start
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