OANDA = OFF-exchange broker (MM) Their risk disclosure says it all: look!

aForexMinute,

You did a great job :)

Thank you very much for this. May I suggest a thead in which you and other forex traders could contibute and write recommendation on which broker is the real one?
 
aForexMinute, you're a moron
"With an ECN broker- I can easily make 50-60 trades with no losses. Can't do that on an
off exchange"

standard boiler-plate contract intended to disclose and inform the prospective client -
is it any different to the ecn broker contract ?
"exchange-traded contracts" = futures contracts
"OANDA’s trading system is designed to automatically liquidate all open positions if your
margin deposit is in jeopardy" = overloss protection, something that doesn't exist when
trading futures — a Large plus
"Your trading account is not insured under any state or Federal insurance program or by
any other entity." = no fx broker, ecn or otherwise is insured, in Canada it's an opt-in policy
"In the event OANDA should become insolvent or file for protection under the bankruptcy laws,
it is possible that you would lose the entire amount in your Margin Account" = same
for All brokers and ANY business anywhere in the world except bank accounts

as davidmaria1 said, you're "Shilling for a schilling"

i'm quite satisfied trading with Oanda and Know their price data is accurate, i receive instant
fills on entry/exit, during rth their spread is 0.9pips and a note
according to their Nov/09 CFTC filing, Oanda's Net Capital is $164,766,421 for comparison,
FXCM's is $68,574,018 - they have 150,000 live accounts
http://www.cftc.gov/ucm/groups/public/@financialdataforfcms/documents/file/fcmdata1109.pdf

only a few years ago ecn brokers required a minimum $25-50,000 margin in order to open
an account with them, their margin requirements may now be lower, the average amount
retail fx traders deposit with brokers is $2,000, much lower in micro accounts
http://www.100forexbrokers.com/stp-ecn-brokers
 
I could copy&paste equally nasty fineprint from ecns (hotspot or IB). Noone is liable for anything, and - of course - if the firm servers or 'the internet' has a hickup, its the traders problem.

I doubt anyone can come up with fineprint that sounds appealing, i have read quite a few and they all sound horrible (doesn't matter if its fx or futures firm really).
 
Quote from Pippi436:

I could copy&paste equally nasty fineprint from ecns (hotspot or IB). Noone is liable for anything, and - of course - if the firm servers or 'the internet' has a hickup, its the traders problem.

I doubt anyone can come up with fineprint that sounds appealing, i have read quite a few and they all sound horrible (doesn't matter if its fx or futures firm really).
More...


True. Just for fun, read your home or auto insurance policy, from start to finish.:eek:
 
Quote from aForexMinute:

I spent the last 2 weeks researching brokers - trying to find which ones are real or not. What I found is that many of the big names
mentioned as being real on this site are actually off exchange brokers. Off exchange broker means: you are trading on an on line video game that they wrote, and your playing against the programmer who has the ability to adjust the program as you play.

Doesn't matter HOW big a name they are- ALL OFF EXCHANGE brokers are running their own private online video game.
More...

wow. really. no shit. call the president.

ZZZZZZZZZzzzzzzzzzzzzzzzzzzzzz
 
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