OANDA vs IB

Which is the best forex broker?

  • OANDA

    Votes: 34 60.7%

  • Interactive Brokers

    Votes: 22 39.3%
  • Total voters
    56
Quote from Kicking:

No you can't.
To reply to Steve IB, the example you describe is just what should not happen 20 pip spread should not happen even at 8:30 am NFP release. Other platforms can offer smaller spread, I am sure IB can as well, 10-15pip spread at the exact time of the release should be the max. Anyway I 'd much rather take a chance and have my stop triggered for no reason other than the MM ripping me off than see a stop executed 50 pips further away because of the current stop logic. That said I sense that will happen too often on IB IDEAL that is why I prefer OANDA. I haven't traded with them during big econ. releases yet and there could be problems as well but I feel confident that the executions will be fair/

I am not a programmer , IB should offer the option to set trigger method to bid ask for cash products as well.
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What kind of executions does IB give when the market blows through a level for any number of reasons? Even if it gaps 30-40 pips or so in reality I would expect a 10 pip fill at worst. What is the norm for IB under these circumstances?
 
I have receieved no fill at all to zero slippage. It's according o the age of the order.

Michael B.


Quote from taboni:

What kind of executions does IB give when the market blows through a level for any number of reasons? Even if it gaps 30-40 pips or so in reality I would expect a 10 pip fill at worst. What is the norm for IB under these circumstances?
More...
 
Quote from Kicking:

No you can't.
To reply to Steve IB, the example you describe is just what should not happen 20 pip spread should not happen even at 8:30 am NFP release. Other platforms can offer smaller spread, I am sure IB can as well, 10-15pip spread at the exact time of the release should be the max. Anyway I 'd much rather take a chance and have my stop triggered for no reason other than the MM ripping me off than see a stop executed 50 pips further away because of the current stop logic. That said I sense that will happen too often on IB IDEAL that is why I prefer OANDA. I haven't traded with them during big econ. releases yet and there could be problems as well but I feel confident that the executions will be fair/

I am not a programmer , IB should offer the option to set trigger method to bid ask for cash products as well.
More...

Kicking,
My 20 pip spread that I discussed was just a hypothetical amount to show what could happen with having stops triggered the way you wanted. It was meant in anyway to be an indication of IB spreads. Let me know the next time you see a signifcant movement and I can post an IDEAL-Pro chart - these charts can be plotted to show the bid and offer price, so you can see how the spread may vary.
FYI....recently I've even observed the occassional 0 pip spread on some of our currency crosses (our market-making banks cannot trade with each other) - although rare, it seems to be most common on GBP/EUR in the European morning...can't beat that!
 
Quote from TradingWise:

Nothing in life is for sure,
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I'm pretty sure about Death. I could be wrong though.

Quote from TradingWise:

Nothing in life is for sure, you've got to trust people at some point. Oanda offers a great deal of transparancy, responds to all inquiries with helpful replies and resolves matters fairly. Their overall integrity is not matched by many.

Also, net exposure is only hedged over a certain threshold(minimum size at interbank level probably). There is no need to hedge every $1.
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You say Oanda offers a great deal of transparency. Yet nobody knows how much they hedge over interbank and how much they take the opposite of.

Sure, there is no need to hedge evert $1. But what if they take the other side of up to $1,000,000 per trader?

Quote from pipscooper:

If you're worrying about a 1 unit trade, you got problems, and it has nothing to do with your market maker.
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i was questioning TradingWise comments about Oanda hedging everything.

If you don't even know what your market maker do with 1 unit trades, would you want to put on a 1,000,000 units trade?
 
Quote from Remiraz:

You say Oanda offers a great deal of transparency. Yet nobody knows how much they hedge over interbank and how much they take the opposite of.

Sure, there is no need to hedge evert $1. But what if they take the other side of up to $1,000,000 per trader?
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Giving out specific details about business operations is probably considered competition sensitive information and thus not discussed freely.

Although these details are not discussed, Oanda representatives have multiple times stated they hedge net exposure over a certain threshold. You should decide for yourself if you trust claims made by Oanda staff.

Now lets say their statements are true. In that case, Oanda can never take the other side of up to $100,000 per trader, as Oanda looks at net exposure for all clients.

A numeric example:

Shorts total $10,000,000 for all clients. Longs total $11,523,000 for all clients. Net exposure is $1,523,000 in longs. Oanda will hedge $1,500,000 at the interbank market and thus a $23,000 stake remains (can not be hedged due to minimum interbank size). In that case it's not likely they will drive the local market the other way only to make a few dollars from the $23,000 stake.
 
Quote from TradingWise:

Giving out specific details about business operations is probably considered competition sensitive information and thus not discussed freely.

Although these details are not discussed, Oanda representatives have multiple times stated they hedge net exposure over a certain threshold. You should decide for yourself if you trust claims made by Oanda staff.
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So what you're saying here is that nobody knows if Oanda hedges our trade on the interbank or take the opposite side of them. If they hedge our trade, no one knows how much they hedge it for.

However, we should believe that they do hedge just because they say so? :eek:
 
Hey Rem, how are you doing?

So what some say is stay away from "Spot Forex" and trade Futures?

Is there an honest way to trade the secondary market from the labyrinth of dealers/marketmakers...or is it to just skip "Spot Forex" altogether?

IB and Oanda seem to be the closest to honest IMHO...but what do I base that on? Well...I am able to take out a small profit slowly, but surely...

Michael B.

P.S. I once drove over the border from California to Tijuana and opened an account at Bancomer to collect higher interest. I find the "Spot Forex" market easier to access online with free charts. Face it, to trade anything Retail requires the trader to be able to compete with the wholesale guys....you can't do it IMHO unless you play longer time frames. I find "Retail Spot Forex" a great interest earning vehicle and trade it as such....
 
Quote from Remiraz:

So what you're saying here is that nobody knows if Oanda hedges our trade on the interbank or take the opposite side of them. If they hedge our trade, no one knows how much they hedge it for.

However, we should believe that they do hedge just because they say so? :eek:
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Do you trade at Oanda?
 
Quote from TradingWise:
Quote from Remiraz:

So what you're saying here is that nobody knows if Oanda hedges our trade on the interbank or take the opposite side of them. If they hedge our trade, no one knows how much they hedge it for.

However, we should believe that they do hedge just because they say so? :eek:
More...

Do you trade at Oanda?
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:eek:
 
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