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OANDA Discussion

  • #5,021
  • Jun 7, 2017 7:10am Jun 7, 2017 7:10am
just noticed that Oanda no longer pay any interest on account balances.............and hardly any positive swap on supposedly positive swap currency pairs.........
  • #5,022
  • Jun 7, 2017 9:57am Jun 7, 2017 9:57am
Quoting findcount
just noticed that Oanda no longer pay any interest on account balances.............and hardly any positive swap on supposedly positive swap currency pairs.........
That's what happens when you create a monopoly. Thanks NFA.
  • #5,023
  • Jun 7, 2017 10:02am Jun 7, 2017 10:02am
Quoting pipmaster77
{quote} That's what happens when you create a monopoly. Thanks NFA.


surely Oanda can't be the dominant player...........perhaps other brokers are doing the same.......?
  • #5,024
  • Jun 7, 2017 12:10pm Jun 7, 2017 12:10pm
Quoting findcount
{quote} surely Oanda can't be the dominant player...........perhaps other brokers are doing the same.......?
US residents have two choices....Oanda and Forex.com. That's it.
  • #5,025
  • Jun 7, 2017 12:28pm Jun 7, 2017 12:28pm
Quoting pipmaster77
{quote} US residents have two choices....Oanda and Forex.com. That's it.
For small balances yes, but for higher balances you have Gain and IB.
  • #5,026
  • Jun 7, 2017 12:31pm Jun 7, 2017 12:31pm
Quoting pipmaster77
{quote} US residents have two choices....Oanda and Forex.com. That's it.
what about tdameritrade? are they affliate of gain?
  • #5,027
  • Jun 7, 2017 3:37pm Jun 7, 2017 3:37pm
Quoting TalonTromper
{quote} For small balances yes, but for higher balances you have Gain and IB.
Yes, IB is 10 million. Tell me what % of traders have that balance. Gain is Forex.com.
  • #5,028
  • Jun 8, 2017 3:52am Jun 8, 2017 3:52am
Quoting pipmaster77
{quote} US residents have two choices....Oanda and Forex.com. That's it.


i'm from Asia............so there's only 2 brokers for USA ?

what about FXCM and others ?
  • #5,029
  • Jun 8, 2017 6:16am Jun 8, 2017 6:16am
Quoting findcount
just noticed that Oanda no longer pay any interest on account balances.............and hardly any positive swap on supposedly positive swap currency pairs.........
Actually they pay interest on my AUD account balance.
  • #5,030
  • Jun 8, 2017 10:22am Jun 8, 2017 10:22am
Quoting Xaron
{quote} Actually they pay interest on my AUD account balance.


XARON............long time no see and hear..........very nice to hear from you again.............i reckon you must have made millions by now ?

any interesting strategies to share ?..............still using ''Birdwatching In Lion Country''..........?

Oanda actually sent me an email say they don't pay interest on a/c balances anymore...........
  • #5,031
  • Jun 8, 2017 10:38am Jun 8, 2017 10:38am
Quoting findcount
{quote} XARON............long time no see and hear..........very nice to hear from you again.............i reckon you must have made millions by now ? any interesting strategies to share ?..............still using ''Birdwatching In Lion Country''..........? Oanda actually sent me an email say they don't pay interest on a/c balances anymore...........
Yeah, Oanda stopped paying interest on account balances awhile ago. I'm wondering why suddenly its an issue? Anyways, the excuse at the time was with interest rates so low, it made no sense to continue paying interest of balances. Interest rates are still low, so whatever I guess. I just wonder if it will change (hahaha probably not) if interest rates ever raise substantially (not likely).
  • #5,032
  • Jun 9, 2017 12:16am Jun 9, 2017 12:16am
Quoting Nate04
{quote} Yeah, Oanda stopped paying interest on account balances awhile ago. I'm wondering why suddenly its an issue? Anyways, the excuse at the time was with interest rates so low, it made no sense to continue paying interest of balances. Interest rates are still low, so whatever I guess. I just wonder if it will change (hahaha probably not) if interest rates ever raise substantially (not likely).


what's worse is even positive swap pairs like AUD/SGD..........you end up paying negative swap..........LOL
  • #5,033
  • Jun 9, 2017 3:09am Jun 9, 2017 3:09am
Quoting findcount
{quote} XARON............long time no see and hear..........very nice to hear from you again.............i reckon you must have made millions by now ? any interesting strategies to share ?..............still using ''Birdwatching In Lion Country''..........? Oanda actually sent me an email say they don't pay interest on a/c balances anymore...........
Haha no, I just took a break of several years (no joke).
  • #5,034
  • Jun 9, 2017 4:12am Jun 9, 2017 4:12am
Quoting Xaron
{quote} Haha no, I just took a break of several years (no joke).

a break is good too..........i'll reply to your PM later
  • #5,035
  • Jun 9, 2017 7:54am Jun 9, 2017 7:54am
Quoting pipmaster77
{quote} Yes, IB is 10 million. Tell me what % of traders have that balance. Gain is Forex.com.

No it isn't 10m, it's 10k.

https://www.interactivebrokers.com/en/index.php?f=4969
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  • #5,036
  • Jun 9, 2017 8:35am Jun 9, 2017 8:35am
U.S. residents need 10 mil if they want to trade spot fx on margin. For everyone else its 10K.
  • #5,037
  • Jun 9, 2017 8:39am Jun 9, 2017 8:39am
Quoting TalonTromper
{quote} No it isn't 10m, it's 10k. https://www.interactivebrokers.com/en/index.php?f=4969 {image}
Yes, it is still 10M--just called them to confirm. It's buried in their website. See:
U.S. Clients with IBLLC accounts, and Fully Disclosed Broker Clients from the U.S. generally must be Eligible Contract Participants to be eligible to trade Cash Forex. An Eligible Contract Participant is generally an individual or organization with assets of over $10 MM (or $5 MM if trades are hedging). The complete definition is located in Section 1a(18) of the Commodity Exchange Act. For more information about the Commodity Exchange Act, see the U.S. Commodity Futures
  • #5,038
  • Jun 9, 2017 2:58pm Jun 9, 2017 2:58pm
Quoting dwe213
. An Eligible Contract Participant is generally an individual or organization with assets of over $10 MM
With 10 millions why even bother trading?

Seriously?
  • #5,039
  • Jun 9, 2017 8:24pm Jun 9, 2017 8:24pm
Quoting TalonTromper
{quote} No it isn't 10m, it's 10k. https://www.interactivebrokers.com/en/index.php?f=4969 {image}
Trust me, if it was 10K, the other two would be out of business. It is the only true DMA/ECN in US, meaning only broker which doesn't trade against the client.
  • #5,040
  • Jun 10, 2017 2:12am Jun 10, 2017 2:12am
I have Oanda account for over 5 years. I traded infrequently, everything was fine . I begun trading a lot 2 months ago. Suddenly 2 weeks ago I begun experiencing communication errors. I tried different computers- the same problem. I cannot enter trade for few minutes. I think problem is Oanda side. Any ideas how to solve it?
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