I haven't read good reviews about any Forex brokers

[cabletrader]

Quote from slapshot:

Dude, you have serious issues. Why are you so emotionally invested in "proving" everyone else wrong? Who gives a fuck if you are happy with Oanda? Good for you, now get a life! You are like a rabid evangelist about this.

I just posted this fact of my experience with one demo-converted-to-live that was dissapointing. I noticed a distinct difference in the behavior of the demo vs. live executions and volatility. I could even see the prices changing about 50% faster on the live vs. the demo. The demo was obviously muted to appear smoother.

And you don't have a clue about ECN model, I don't even use it for FX and I know that there is no fixed spread, just best bid/ask.

When you get filled at a limit or market order via ECN, you are not automatically down 1 or more pips that you pay each side of the trade. You can split the bid/ask with a limit order and pay no spread at all. When you get filled, your price is your price, period.

On IB for example, as I understand their commish web page, it is about $80 comission per million traded round trip - whereas even at one pip fixed you are paying $200, $100 for each pip on entry and exit to trade the same 10 full lots. On a fixed spread, even with a limit order, you pay more than 2.5 times higher cost. This really adds up big and fast if a person turns a lot of size. Many thousands per month in some cases.

When this is combined with some requotes and news spike manipulation, like all market-making brokers are prone to do by definition of their business model, it just ain't that great.

If it works OK for you, then use it. But stop shoving it down peoples throats.

"Me thinks thou doth protest too much!"

So do some math and quit ranting about why Oanda has to be the best thing since sliced bread. By all accounts it is a halfway decent market-making broker but there are a few others that are OK too - and a bunch that are not, according to what folks report.

You are the one who recently started an Oanda complaint thread, as I recall. Now you are practically sucking them off.

lol, so that would be a no to any screenshots or anything tangible to support what you say, right?

Yeah ok, just another theorist, yawwwwwwn

 

[slapshot]

Quote from cabletrader:

lol, so that would be a no to any screenshots or anything tangible to support what you say, right?

Yeah, ok

1) I don't have the account anymore

2) I don't have anything to prove to you

You obviously didn't read my post, which is typical for trolls.

 

[cabletrader]

Quote from slapshot:

typical for trolls.

You obviously have more experience in that field than I do

ps/ read the thread, it addresses all the points and questions you raise, and more!

 

[IluvVol]

could not agree more. Very good points made.

Fact is (and dont need to back up anything because everyone who traded fx for more than 1 month will know) that non ECN brokers show tight spreads during quiet market hours and widen them to ridiculous levels during high vol times, including OANDA. Secondly, non ECN brokes widen the spreads when markets wrap up on Fridays or open on Mondays by so much 2 hours before close/2 hours after open that trading is made virtually impossible. Check out IB's quotes When markets open in Asia on Mondays or close on Fridays you will see the difference, no need to post anything here.

Another fact is that local or global highs/lows are often associated with an additional 20-50pip spikes when trading with non ECN based brokers. Oanda is no exceptio here at all. As benchmark I use Reuters, EBS, Hotspot, IB and other ECNs. Those reflect true markets as close as it gets. Oanda and most other MM brokers divert from those levels often by up to 50pips. Those are impossible to trade and most of the time lose a trader money through run stops or other delicacies.

Quote from slapshot:

Dude, you have serious issues. Why are you so emotionally invested in "proving" everyone else wrong? Who gives a fuck if you are happy with Oanda? Good for you, now get a life! You are like a rabid evangelist about this.

I just posted this fact of my experience with one demo-converted-to-live that was dissapointing. I noticed a distinct difference in the behavior of the demo vs. live executions and volatility. I could even see the prices changing about 50% faster on the live vs. the demo. The demo was obviously muted to appear smoother.

And you don't have a clue about ECN model, I don't even use it for FX and I know that there is no fixed spread, just best bid/ask.

When you get filled at a limit or market order via ECN, you are not automatically down 1 or more pips that you pay each side of the trade. You can split the bid/ask with a limit order and pay no spread at all. When you get filled, your price is your price, period. And you don't have a spread you have to trade past just to get to B/E.

And on ECN you can more effectively scalp if you want to. You only have to get out one pip from entry price and you make more than the commission paid. You can't do that with a MM broker.

On IB for example, as I understand their commish web page, it is about $80 comission per million traded round trip - whereas even at one pip fixed you are paying $200, $100 for each pip on entry and exit to trade the same 10 full lots.

That means on a fixed spread, even with a limit order, you pay more than 2.5 times higher cost. This really adds up big and fast if a person turns a lot of size. Many thousands per month in some cases.

When this is combined with some requotes and news spike manipulation, like all market-making brokers are prone to do by definition of their business model, it just ain't that great.

If it works OK for you, then use it. But stop shoving it down peoples throats.

"Me thinks thou doth protest too much!"

So do some math and quit ranting about why Oanda has to be the best thing since sliced bread. By all accounts it is a halfway decent market-making broker but there are a few others that are OK too - and a bunch that are not, according to what folks report.

You are the one who recently started an Oanda complaint thread, as I recall. Now you are practically sucking them off.

 

[cabletrader]

Quote from IluvVol:

could not agree more. Very good points made.

Fact is (and dont need to back up anything because everyone who traded fx for more than 1 month will know) that non ECN brokers show tight spreads during quiet market hours and widen them to ridiculous levels during high vol times, including OANDA. Secondly, non ECN brokes widen the spreads when markets wrap up on Fridays or open on Mondays by so much 2 hours before close/2 hours after open that trading is made virtually impossible. Check out IB's quotes When markets open in Asia on Mondays or close on Fridays you will see the difference, no need to post anything here.

Another fact is that local or global highs/lows are often associated with an additional 20-50pip spikes when trading with non ECN based brokers. Oanda is no exceptio here at all. As benchmark I use Reuters, EBS, Hotspot, IB and other ECNs. Those reflect true markets as close as it gets. Oanda and most other MM brokers divert from those levels often by up to 50pips. Those are impossible to trade and most of the time lose a trader money through run stops or other delicacies.

Cabletrader, pls shut up because you should know exactly how the game works. Unless you work for OANDA or get paid by them I have ZERO idea why you kiss their ass.

lol déjà vu, didn't you and me already have this conversation

Yeah, now all you and slapstick need to do is post something tangible to support your opinions, but you know what, you never do and you probably never will. It's all just hot air and supposition because I don't think you've actually got any first hand experience of trading this (or any) market.

I post from personal experience and I also post supporting evidence to show that bucketshops such as Oanda work just fine.

Hope that helps, anything else you need to know just read this thread, it's all there.....in triplicate probably!

 

[IluvVol]

why are you talking to me?

I bet you are an ass licker for OANDA, how much do you make per post?

Quote from cabletrader:

lol déjà vu, didn't you and me already have this conversation

Yeah, now all you and slapstick need to do is post something tangible to support your opinions, but you know what, you never do and you probably never will. It's all just hot air and supposition because I don't think you've actually got any first hand experience of trading this (or any) market.

I post from personal experience and I also post supporting evidence to show that bucketshops such as Oanda work just fine.

Hope that helps, anything else you need to know just read this thread, it's all there.....in triplicate probably!

 

[cabletrader]

Quote from IluvVol:

why are you talking to me?

Good question, I guess I'm bored waiting for a trade set-up, and although you're not great entertainment you're marginally more fun than picking my nose....mind you it's a close call.

Quote from IluvVol:
I bet you are an ass licker for OANDA, how much do you make per post?

Oh millions, plus a free t-shirt!

 

[Trader KGB]

Quote from IluvVol:

As benchmark I use Reuters, EBS, Hotspot, IB and other ECNs.

That's quite a few benchmarks! Two ECNs work for me. Do you trade on Reuters and EBS also or just have them as data feeds? (if the latter, what is the cost)

 

[Pippi436]

On IB for example, as I understand their commish web page, it is about $80 comission per million traded round trip - whereas even at one pip fixed you are paying $200, $100 for each pip on entry and exit to trade the same 10 full lots.

Lol, you got the IB commissions all wrong AND don't get such a simple concept like the bid/ask spread. Yet again, this forum proves to be a source of much amusement.

 

[slapshot]

Quote from Pippi436:

Lol, you got the IB commissions all wrong AND don't get such a simple concept like the bid/ask spread. Yet again, this forum proves to be a source of much amusement.

OK, show me how the commish works then. I just glanced at the page, I didn't audit it. You show me the math on it, genius.

And explain how you think I was wrong on bid/ask - which I am not. You must not have understood it.