Sincere opinion on Oanda

[Putin's puppet]

Quote from dhpar:

no argument on financing costs? so Oanda is not so good after all.....

Staying at your example, interest-wise trading a synthetic EURCHF is still cheaper at Oanda than trading a synthetic EURCHF at IB.

 

[dhpar]

Quote from Putin's puppet:

Staying at your example, interest-wise trading a synthetic EURCHF is still cheaper at Oanda than trading a synthetic EURCHF at IB.

that's a BS. holding the position for 10 days costs you USD178 at Oanda while zero at IB.

p.s. for the sake of the argument i am ignoring cost of carry of EURCHF position itself which differs between IB and Oanda depending on the size of the trade.

 

[Putin's puppet]

Going short 1lot EURUSD at a rate of 1.31809 for example and holding 10 days you pay 32.85€ or $43.30.
Additionally you go short USDCHF at a rate of 1,04633 with a positions size of 131,809 units. You pay interest of 16.42€ or $21.64 for 10 days. So now you have a synthetic EURCHF short.

So you pay for all $65 for 10 days.

What position sizes are you talking about?

 

[Putin's puppet]

Doing the same at IB you pay around $70 Tier1, no?

 

[dhpar]

Quote from Putin's puppet:

Going short 1lot EURUSD at a rate of 1.31809 for example and holding 10 days you pay 32.85€ or $43.30.
Additionally you go short USDCHF at a rate of 1,04633 with a positions size of 131,809 units. You pay interest of 16.42€ or $21.64 for 10 days. So now you have a synthetic EURCHF short.

So you pay for all $65 for 10 days.

What position sizes are you talking about?

I was talking about the original example (EUR1MM at 1.30). for simplicity let's ignore comparison of CoC between the two brokers, i.e. ignore difference in costs for EUR and benefits for CHF. otherwise it becomes complex and depends on the exact size of the trade due to "Tier-ing" at IB...

you end up net paying on USD legs of the trades at Oanda (but not at IB because there is zero USD exposure). this is the financing spread (currently 50bps for major pairs at Oanda).

therefore 50bps x 10days / 365 x 1.3MM = USD178 additional costs at Oanda

 

[mr.az]

did you guys saw this?

Oanda is advertising on google :eek:

 

[Peternam]

Quote from mr.az:

did you guys saw this?

Oanda is advertising on google :eek:

Where did you saw this ad ?

 

[Putin's puppet]

A Google Asia thing probably. Can't see it, too.

With IE I'm seeing this http://img21.imageshack.us/img21/4021/55266746.gif

With good ol' Firefox I'm seeing this http://img844.imageshack.us/img844/6978/97501637.gif

 

[Putin's puppet]

I was right.

Google Singapore

Try this google address and paste it in IE

http://www.google.com.sg/search?hl=en&source=hp&q=trade+currency+with+oanda&btnG=Google+Search

Then you can see it

 

[mr.az]

I thought their policy is never to advertise