OANDA Gold and silver

[Kicking]

OK what is the deal with metals at OANDA?!
I have them on my screen but have no info on margin, tick and contract size and can't find that info on their website!

 

[eurofan]

I thought this is foreign currency trading thread,

what metals have to do with it?

 

[Kicking]

no it's the FX broker thread

 

[dalvord]

Tools>Pip/profit calculator
Account>leverage
Both from the trading window menu

But I agree that the website itself isn't helpful. If my calculations are correct, looks like a great way to lose or gain large amounts of capital.

 

[late apex]

Quote from Kicking:

OK what is the deal with metals at OANDA?!
I have them on my screen but have no info on margin, tick and contract size and can't find that info on their website!

Same margin as your account.

Click on Tools - Pip / Profit Calculator to see everything you'd want to know, except interest. For that and more, see this, as usual... it's all there. 1 unit = 1 ounce for both gold and silver. Easy as pie.

Beware of shockingly widened overnight (not just weekend) spreads.

 

[Exchanges]

gold currently 50-wide. $582.60/583.10

silver currently 200-wide. $11.5400/600

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[Exchanges]

my very first 9 silver and gold spot trades - all winners.

simulator account. still experimenting before I go live. spreads are a little freaky.

x

 

[Exchanges]

part 2 Activity Log

 

[Kicking]

It 's still not very clear. If I figure this correctly the equivalent of the mini gold would be about 33 units. It then trades in 10 cents increments worth $3.3.

60 cent spread is then $19.8
With 100 unit, the tick value is $10, spread becomes $60.

The default trade value in FX trade is 10,000 units , $100 tick, $6,000 spread !

Is that right ?

I will stick to the mini then. This spread will kill you. Too bad I thought OANDA silver would be an alternative to mini silver which is so illiquid

 

[Exchanges]

Quote from Kicking:

It 's still not very clear. If I figure this correctly the equivalent of the mini gold would be about 33 units. It then trades in 10 cents increments worth $3.3.

60 cent spread is then $19.8
With 100 unit, the tick value is $10, spread becomes $60.

The default trade value in FX trade is 10,000 units , $100 tick, $6,000 spread !

Is that right ?

I will stick to the mini then. This spread will kill you. Too bad I thought OANDA silver would be an alternative to mini silver which is so illiquid

default trade value?

Oanda doesn't default to anything.

You can set your own unit amount (number of units) from 1-unit (1-oz of gold/silver) up to any amount of units.

hope I'm understanding you right.

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