Oanda

[Exchanges]

Quote from sirpangolin:

They've offered 50:1 for awhile now.

Post from the Oanda Forum:

KH
Senior Member
Member # 5089

posted March 19, 2006 05:24 AM Profile for KH

Just noticed that trading gold and silver requires 4% margin? In FX Game the margin requirement was 2%. Is this a bug? (The same bug had happened when CAD/JPY was introduced last year.)

As I said, I'm still number crunching (or I may not be doing something right) but for some reason the apparent difference in units available doesn't change as yet between 20:1 and 50:1 with gold and silver.

x

 

[OddTrader]

How about the spreads of them?

 

[Exchanges]

Quote from OddTrader:

How about the spreads of them?

From Oanda:

Mar 19, 2006 Gold and Silver trading
We are pleased to announce that trading in gold (XAU/USD) and silver (XAG/USD) have been added to FXTrade. Expect their spreads to come down from their typical weekend spreads on the morning of Monday, March 20, 2006.

I guess we'll see tomorrow.

Right now they are 600-wide for silver and 250-wide for gold.

x

 

[sirpangolin]

So what is considered a good spread for gold and silver?

 

[Exchanges]

Quote from sirpangolin:

So what is considered a good spread for gold and silver?

Well, the way I feel about it, if Oanda can swing currencies and now gold and silver... what is stopping them from offering access to bonds, wheat and oil?

I know more about the subterranean gasses of Jupiter than I do about the futures market but, on face value, they have gold and silver now that is generally traded in futures, right?

So why not offer corn, wheat, soybean, oil and bonds by the unit as well?

If someone knows why that's impossible, please post.

But if it can be done at all, Oanda will pull it off.

Imagine buying/selling OIL in the spot market by a penny or dime worth at a time.

Ex

 

[ufeg02]

Quote from Exchanges:

they have gold and silver now that is generally traded in futures, right?

Spot (not futures) gold and silver are also traded on EBS, the system the big banks use for trading currencies. So there's a big difference for oanda in offering spot gold/silver and wheat or bonds

More info:
http://www.ebs.com/products/metals.asp

 

[KS96]

Quote from Exchanges:

*Exchanges jams his hand up* "I AM, SIR!"

But... I'm still number crunching - Oanda says it is going to offer 50:1 but as of now it looks to me like max leverage is still 20:1.

Good thing is, they are offering amounts to trade less than a solid Oz of gold and silver.

From what I can tell so far, 55000 units = about an Oz of gold, and little over 100000 units = one Oz of silver.

Traders can trade as little as one-unit with Oanda. That's about a fingernail scrape worth.

x

Scalpz?

 

[OddTrader]

Quote from ufeg02:

Spot (not futures) gold and silver are also traded on EBS, the system the big banks use for trading currencies. So there's a big difference for oanda in offering spot gold/silver and wheat or bonds

More info:
http://www.ebs.com/products/metals.asp

Thanks for the link. Do you know what are the normal spreads with EBS?

 

[Ivanovich]

Quote from KS96:

Scalpz?

Who else?

 

[late apex]

Quote from Exchanges:

*Exchanges jams his hand up* "I AM, SIR!"

But... I'm still number crunching - Oanda says it is going to offer 50:1 but as of now it looks to me like max leverage is still 20:1.

Good thing is, they are offering amounts to trade less than a solid Oz of gold and silver.

From what I can tell so far, 55000 units = about an Oz of gold, and little over 100000 units = one Oz of silver.

Traders can trade as little as one-unit with Oanda. That's about a fingernail scrape worth.

x

sKaLpZ, 1 unit of XAU/USD = 1 Oz of gold and 1 unit of XAG/USD = 1 Oz of silver. You're off by 5-6 orders of magnitude... no big deal.

2% initial margin / 50:1 leverage available for both since 1 pm on Sunday the 19th, quickly corrected from 4% / 25:1 for the first few hours.