Sincere opinion on Oanda

lol if dhpar is done fucking up this thread with his awesome math skills... Oanda is cheaper all-in and offers better swaps if you're not trading a lot of synthetics. Also 50x on crosses where IB is at 25x.
 
My single big disappointment with Oanda was the lack of a free API. Frankly it's completely unfathomable to me why they chose to stand alone as the only broker that charges a fee for API use.

It's what ultimately drove me away.
 
Quote from stevegee58:

My single big disappointment with Oanda was the lack of a free API. Frankly it's completely unfathomable to me why they chose to stand alone as the only broker that charges a fee for API use.

It's what ultimately drove me away.
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Well, it's free if you are exceeding $12M in volume in a month.
 
Quote from dhpar:


there is still the problem with no netting of currency exposures and charging interest by pairs - which can add quite some costs unless you are a short term scalper (which I am not in FX).
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trade interest positive and you can cash in additional money, look at the Aussie pairs.
 
Quote from stevegee58:

My single big disappointment with Oanda was the lack of a free API. Frankly it's completely unfathomable to me why they chose to stand alone as the only broker that charges a fee for API use.

It's what ultimately drove me away.
More...

Yeah, no way to test the platform w/o doing 120 lots or shelling out $600. Penny-wise, pound-foolish IMO, as they would make a ton off of automated clients.
 
Quote from Putin's puppet:

Well, it's free if you are exceeding $12M in volume in a month.
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I know that. But why didn't they make the API free for the demo accounts at least? But no, the API is the API and it's $600/month for live trading or demo.

Stum's occasional answers to questions about charging for the API were universally vague and uninformative.
 
Quote from atticus:

Yeah, no way to test the platform w/o doing 120 lots or shelling out $600. Penny-wise, pound-foolish IMO, as they would make a ton off of automated clients.
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Agreed but trading 5 lot a day isn't that difficult with a five-figure account. But yeah, I agree.
 
Quote from stevegee58:

I know that. But why didn't they make the API free for the demo accounts at least? But no, the API is the API and it's $600/month for live trading or demo.

Stum's occasional answers to questions about charging for the API were universally vague and uninformative.
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I agree to make it completely free for FXTrade accounts. But for FXGAME? No way IB would do it too. API is free for IB paper trading accounts but still to have a paper trading account you need to have a real trading account with money filled, don't you? That's a difference to FXGame where you don't need to have a live account to use it. So I doubt IB would do the same.
 
Quote from stevegee58:

I know that. But why didn't they make the API free for the demo accounts at least? But no, the API is the API and it's $600/month for live trading or demo.

Stum's occasional answers to questions about charging for the API were universally vague and uninformative.
More...

I know factually that Stumm is worried about the server-load from the small algo-traders if offering a free API. The answer is to scale it up to handle the load. They would make a killing off algo, so the $600 API is really dumb.
 
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