OANDA vs IB
- Thread starter C3P0
- Start date
Right now OANDA beats IB hands down. No commissions for starters and no minimum which is great if you want to test a strategy, hedge or scale into long term positions for which perfect timing using tight stop is next to impossible. I have tried both and FXCM as well and OANDA has been the best. Execution is instantaneous (not always the case at IB not to mention FXCM ), quotes are lightning fast, don't try to be faster because in a breakout it appears sometimes OANDA will lean the way the market is going by as much as 3-4 pips. Check the spread before you trade because occasionally it can widen as well (I have seen it once at 10 pips in Euro/USD but only for few sec. at IB this can happen for several long minutes ) At first the platform looked like a game for wannabe traders but it 's actually the best of what I've used. And it comes with good charting that you can rely on. So far I have not experienced any technical problem and none of the MM's sh*t seen elsewhere.
I like being able to execute all my orders from one platform, if IB would at least lower their FX lot size to10k that would be nice. I also like to scale into Fx positions, and hold em for the carry trade.
I was shocked to see the pip spreads on Oanda today Sunday Aug 14, 2005 from 3:45 pm to 5:00 pm CST. They were all 10 pips plus. To compare I opened some other platforms to compare. I chose a few quick pairs. They broke down like this:
Strategy Builders EUR/USD 2 PIPS
EUR/GBP 4 PIPS
USD/JPY 3 PIPS
EUR/JPY 4 PIPS
FX-Solutions EUR/USD 3 PIPS
EUR/GBP 5 PIPS
USD/JPY 3 PIPS
EUR/JPY 4 PIPS
FXDD EUR/USD 2 PIPS
EUR/GBP 5 PIPS
USD/JPY 3 PIPS
EUR/JPY 5 PIPS
RGC Mini EUR/USD 5 PIPS
EUR/GBP 6 PIPS
USD/JPY 4 PIPS
EUR/JPY 11 PIPS
Oanda EUR/USD 10 PIPS
EUR/GBP 10 PIPS
USD/JPY 10 PIPS
EUR/JPY 10 PIPS
I know it is a high volitility timeframe but this is when the big swings and big profits can be made. Who wants to trade on 5 pip swings?
Strategy Builders EUR/USD 2 PIPS
EUR/GBP 4 PIPS
USD/JPY 3 PIPS
EUR/JPY 4 PIPS
FX-Solutions EUR/USD 3 PIPS
EUR/GBP 5 PIPS
USD/JPY 3 PIPS
EUR/JPY 4 PIPS
FXDD EUR/USD 2 PIPS
EUR/GBP 5 PIPS
USD/JPY 3 PIPS
EUR/JPY 5 PIPS
RGC Mini EUR/USD 5 PIPS
EUR/GBP 6 PIPS
USD/JPY 4 PIPS
EUR/JPY 11 PIPS
Oanda EUR/USD 10 PIPS
EUR/GBP 10 PIPS
USD/JPY 10 PIPS
EUR/JPY 10 PIPS
I know it is a high volitility timeframe but this is when the big swings and big profits can be made. Who wants to trade on 5 pip swings?
LOL what are you talking about this is where the big money is made ? It'sa lot moe important to be able to rely on your dealer's platform during economic announcements for ex.
yes you can sometimes profit from moves on sunday night but it's pretty rare , the range is usually tight. obviously you have an agenda to come here and denigrate OANDA. The fact is the big money isn't made trading intraday on Sundays, large spreads at this time can be a problem but anyone who holds over the we is a long term trader who likely don't care as much if he exits with 20-30 pip slippage . I and others have posted their REAL experience with OANDA. Stop your B.S.
yes you can sometimes profit from moves on sunday night but it's pretty rare , the range is usually tight. obviously you have an agenda to come here and denigrate OANDA. The fact is the big money isn't made trading intraday on Sundays, large spreads at this time can be a problem but anyone who holds over the we is a long term trader who likely don't care as much if he exits with 20-30 pip slippage . I and others have posted their REAL experience with OANDA. Stop your B.S.
I found both to be good and fair. Oanda runs a fair game and that is saying something with all the bucketshops out there. I have been really impressed with IB as well. Especially, IB of late. Of course, there are size considerations. I never really thought about trading small lots. But if you are than Oanda would be for you. I do not see the IB commission as bad ----they are an ECN not a broker. I have found their spreads to be tight and very good for crosses. I have never had a problem with Oanda either.
If you are going to trade forex. You may want more than one account longterm.
I would like Oanda even more if I could hook up Ensign their data. Their canned indicators irritate me. If you are going to can indicators make sure that I can vary the damn MACD from exp to simple (hat tip ---IB).
If you are going to trade forex. You may want more than one account longterm.
I would like Oanda even more if I could hook up Ensign their data. Their canned indicators irritate me. If you are going to can indicators make sure that I can vary the damn MACD from exp to simple (hat tip ---IB).
Kicking said; "LOL what are you talking about this is where the big money is made ? It'sa lot moe important to be able to rely on your dealer's platform during economic announcements for ex.
yes you can sometimes profit from moves on sunday night but it's pretty rare , the range is usually tight. obviously you have an agenda to come here and denigrate OANDA. The fact is the big money isn't made trading intraday on Sundays, large spreads at this time can be a problem but anyone who holds over the we is a long term trader who likely don't care as much if he exits with 20-30 pip slippage . I and others have posted their REAL experience with OANDA. Stop your B.S."
Wow, I didn't mean to upset you. I really like Oanda's platform, normal spreads, exocution, and the charting is powerfull. I didn't make myself clear. I was implying that if Oanda is going to widen the spreads, too wide, for a long time during volitility then it's going to greatly reduce the potential to trade during these times. It could make it hard to get out of a trade profitably and in effect would shorten the trading hours available on Oanda. I'm no expert but made an observation that I thought needed to be expressed to others. Oanda's spread stayed at 10+ until around 8:00 p.m. EST.
yes you can sometimes profit from moves on sunday night but it's pretty rare , the range is usually tight. obviously you have an agenda to come here and denigrate OANDA. The fact is the big money isn't made trading intraday on Sundays, large spreads at this time can be a problem but anyone who holds over the we is a long term trader who likely don't care as much if he exits with 20-30 pip slippage . I and others have posted their REAL experience with OANDA. Stop your B.S."
Wow, I didn't mean to upset you. I really like Oanda's platform, normal spreads, exocution, and the charting is powerfull. I didn't make myself clear. I was implying that if Oanda is going to widen the spreads, too wide, for a long time during volitility then it's going to greatly reduce the potential to trade during these times. It could make it hard to get out of a trade profitably and in effect would shorten the trading hours available on Oanda. I'm no expert but made an observation that I thought needed to be expressed to others. Oanda's spread stayed at 10+ until around 8:00 p.m. EST.
Quote from swingerdan:
Kicking said; "LOL what are you talking about this is where the big money is made ? It'sa lot moe important to be able to rely on your dealer's platform during economic announcements for ex.
yes you can sometimes profit from moves on sunday night but it's pretty rare , the range is usually tight. obviously you have an agenda to come here and denigrate OANDA. The fact is the big money isn't made trading intraday on Sundays, large spreads at this time can be a problem but anyone who holds over the we is a long term trader who likely don't care as much if he exits with 20-30 pip slippage . I and others have posted their REAL experience with OANDA. Stop your B.S."
Wow, I didn't mean to upset you. I really like Oanda's platform, normal spreads, exocution, and the charting is powerfull. I didn't make myself clear. I was implying that if Oanda is going to widen the spreads, too wide, for a long time during volitility then it's going to greatly reduce the potential to trade during these times. It could make it hard to get out of a trade profitably and in effect would shorten the trading hours available on Oanda. I'm no expert but made an observation that I thought needed to be expressed to others. Oanda's spread stayed at 10+ until around 8:00 p.m. EST.
http://fxtrade.oanda.com/resources/spreadstats/spreadsminmax.shtml