i am pretty much down to deciding between fxsol and oanda. i love fxsol due to the hedging ability and oanda due to 100% computer executed trades (no reqoutes) and tighter spreads. i am kind of stuck deciding. i do like fxsol interface a little more...simple and quick to use. any advice?
fxsol vs oanda
- Thread starter techiecool
- Start date
If I'm not mistaken, Fxsol actually uses the software from interbank fx (www.interbankfx.com)..(it's been a while since I had
downloaded various platforms to see which one is good).
Anyways, if you care more about graphical display and all the neat features..and careless whether the broker might be a "bucketshop", fxsol/interbankfx is good..
But if you care about "honesty" in pricing and tighter spreads (1.5 pips on EURUSD vs 3 pips on EURUSD on other brokers).. and variable size units so that you can open accounts with $1, OANDA is the best..
I use OANDA.. as I found them to be simple yet not too simple.
Their charting package is substandard..but it's usable... you can modify stop losses and targets just on the chart... not to mention, I care about 'honesty' in price versus pretty looks..
(sorta like choosing a spouse.. decent looking and body.. with honest and great personality/reliability .. or a model at the expense of more money taken away...hehe ..ok it's getting late.. me need to sleep)
truth be told, i only am considering fxsol because they let you hedge. otherwise, i think oanda is the clear cut winner. but in regards to interface, fxsol actually aids in making trades quickly...reduced number of clicks. maybe, i'm new to this, but saving a fraction of a second could be helpful when trying to get in on a good move. but then again, i come from a stock day trader background so i'm use to many trades quickly.
You could use the hotkeys. Press F1 and F2 to open the order window and hit submit to enter the order. The size and other fields can be preset in preferences.
You may like the new Oanda trade layout better, login to the FXGame beta to see the upcoming changes (though it might take a while before implemented into FXtrade).
Well you can open up a subaccount at Oanda for hedging to get around the Oanda rule...You can quickly transfer money between the long and the short account for margin balancing. Its a little awkward but doable.
Michael B.
Michael B.