-----------------------------------------------------------------------------------
Why do we have this discussion the 2nd Monday of each month?
Everyone, excluding a few pass-through ECN shops, buckets trades
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Oanda just another bucket shop
- Thread starter MickMason
- Start date
Why do we have this discussion the 2nd Monday of each month?
Everyone, excluding a few pass-through ECN shops, buckets trades
Quote from RapidFireFX:
-----------------------------------------------------------------------------------
Why do we have this discussion the 2nd Monday of each month?
. . .
I believe Misha7, whose post you refer to, is trying to convert the thread into a substantive discussion or critique. Without his post, the thread is little more than a sales pitch, as in -- "The forex retailer I use is much better than the one you use, and you can find out about mine, including its name, by clicking this link."
If a market maker / broker has no way to offset orders during a volatile news announcement why would they take them? Everyone wants their broker to guarantee fills, stops, no re-quotes, and let me straddle price during the news.
Either they widen the spread or freeze prices when they cant make their fills, they can be up front as the day is long but they ainât in business to lose money.
I would say that they got burned by traders straddling the news and they put a stop to it.
Either they widen the spread or freeze prices when they cant make their fills, they can be up front as the day is long but they ainât in business to lose money.
I would say that they got burned by traders straddling the news and they put a stop to it.
Quote from late apex:
Those are typical EBS spreads? Hard to believe... they're actually wider than most dealing desk market makers' (fixed) spreads. And more than double Oanda's for some pairs.
Yes but can you get filled, or do you get requotes. How dependable is their order entry platforms. My experience with Oanda was ok, I like how the calculate interest, but their platform has alot of problems, I can remember not being able to login in for hours at a time.
Quote from myminitrading:
Yes but can you get filled, or do you get requotes. How dependable is their order entry platforms. My experience with Oanda was ok, I like how the calculate interest, but their platform has alot of problems, I can remember not being able to login in for hours at a time.
I hate how they calculate interest - at least for exotic pairs it is the biggest rip off ever. Instead of calculating margin interest on overall exposures in individual currencies they calculate it pair by pair.
For instance assume you are long EUR against JPY and short EUR against CZK resulting in a flat EUR POS, i.e. synthetic slightly positive carry bet on CZK/JPY strenght.
But in terms of financing you still get bid margin interest rate on long EUR and are being charged offer interest rate on short EUR, i.e. being charged b/o on half of your <i>gross</i> position - WHAT A F*CKING JOKE.
Quote from myminitrading:
Here is the typical spreads thru EBS, I have never seen 20 pips on the majors.
Not sure I understand what does an inter-bank system like EBS have to do with any of this discussion? I suspect most ppl on the board are trading their own, relatively small accounts.
the question of 'bucketing' in spot FX is not a straightforward one, unlike in futures that are traded on the exchange and bucketing by a broker is explicitly prohibited by law.
The wider question really is how solid the company is and how good is their risk management and regulations compliance since a) they are holding your money b) they are the counterparty to your trades.
Going with futures probably eliminates some of these problems but you will 'pay' with lower liquidity