spreads are way too big at oanda: for example dax is 1 to 1.5 point spread, with Tickmill it is 0.75 points. Eurusd is most of the time 1 pipette spread, often even 0, at most 2. I do have to pay a commission which is 0.4 pipettes. Oanda's Eurusd is something like 13 pipettes during normal hours. Do the math. If you are an active trader that makes quite a difference at the end of the month. Furthermore Oanda is not afraid of hunting for stops; I haven't had that experience yet at Tickmill.
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Forex.com is a scam!!
- Thread starter Edilson2o17
- Start date
spreads are way too big at oanda: for example dax is 1 to 1.5 point spread, with Tickmill it is 0.75 points. Eurusd is most of the time 1 pipette spread, often even 0, at most 2. I do have to pay a commission which is 0.4 pipettes. Oanda's Eurusd is something like 13 pipettes during normal hours. Do the math. If you are an active trader that makes quite a difference at the end of the month. Furthermore Oanda is not afraid of hunting for stops; I haven't had that experience yet at Tickmill.
Every forex bucket shop hunts for stops. Oanda used to be one of the better ones. Some even put it in their user agreement, that they can quote different prices to different people at the same time. Futures is the way to go.
Oanda used to be one of the better ones.
I think they're maybe still one of the better ones, but the standard's become so low that that's not saying much.
The world's full of scammy forex market-makers, these days.
Many are unregulated altogether, and many more lightly regulated in jurisdictions they've deliberately chosen for the toothless regulation. Some of the worst ones you can tell at a glance, with reasonable confidence, from their marketing (competitions, bonuses, etc etc) but newbies don't always know that, and don't always know that "ECN" is actually meaningless. Unfortunately for them.
And then there's the fact that many forex pairs don't have equivalent futures to trade instead of spot, of course.
I'd always suspected that but was never able to confirm it.Every forex bucket shop hunts for stops. Oanda used to be one of the better ones. Some even put it in their user agreement, that they can quote different prices to different people at the same time. Futures is the way to go.
I think they're maybe still one of the better ones, but the standard's become so low that that's not saying much.
The world's full of scammy forex market-makers, these days.
Many are unregulated altogether, and many more lightly regulated in jurisdictions they've deliberately chosen for the toothless regulation. Some of the worst ones you can tell at a glance, with reasonable confidence, from their marketing (competitions, bonuses, etc etc) but newbies don't always know that, and don't always know that "ECN" is actually meaningless. Unfortunately for them.
And then there's the fact that many forex pairs don't have equivalent futures to trade instead of spot, of course.
If anyone has a need to trade Exotic pair and does not have 7 figure account, they do it at their own peril at the bucket shop.
If anyone has a need to trade Exotic pair and does not have 7 figure account, they do it at their own peril at the bucket shop.
I scalp currencies at CME and use their options to hedge longer term positions but do longer term at Onada as some positions end up being in there for years. I don't use protective stops since I am hedged, cost of doing business.
I do not know these news good or bad, but I did not really like it.
Maybe Oanda are not fools and will not lose customers and reputation due to the deterioration of the service. They know what they are doing. Maybe it's a way out to a new market.I do not really know.