US Forex brokers account profitability

[bugscoe]

Interesting. Oanda traders are kicking ass...

http://forexmagnates.com/us-forex-brokers-account-profitability-comparison/

 

[cstfx]

I guess then if you want better chances of success one should go to Oanda.

 

[Pippi436]

I guess IB doesnt have to disclose this info then?

 

[Trader KGB]

Quote from Pippi436:

I guess IB doesnt have to disclose this info then?

They fall into the SEC regulated camp along with dbFX and CitiFX. Even if they were required, the numbers would be skewed by those who trade a variety of products in addition to FX.

 

[olias]

That is very interesting. I had no idea that firms compiled those statistics. Thanks for posting this

 

[Peternam]

What does explain Oanda's significantly higher profitability in comparison with the rest ?

 

[bstay]

Are funds deposited with spot forex brokers safe? By safe, I mean they hold your funds in a segregated bank account so in the unlikely event of the insolvency of the company, your funds are fully protected. In such an event, you would be entitled to make claims on your full account balance. Dukascopy and MIGbank having Swiss banking license would be "safer"?

 

[Wallace]

Quote from Peternam:
What does explain Oanda's significantly higher profitability in comparison with the rest ?

the smartest, most successful traders - like me - have an account with Oanda ;

one commentator at forexmagnates suggested the figures were a result of Oanda
paying daily interest on accounts, irrespective if the accounts were traded
however I don't believe that's correct

some additional interesting data is that FXCM for instance advertise on their site
they have "Over 165,000 tradable accounts on platforms offered by FXCM"
but their Total N-D Accounts have declining volumes - from 22,371 to 15,023 , and
"Our trading platform is tested in all market conditions, routinely handling over
320,000 trades per day"
320,000 / 22 trading days = 14,545 / q3 2010 accounts of 15,023 =
0.96 trades per account per day
Oanda don't publish accounts volume data but they're at least double the size of
FXCM based on their CFTC capitalization filings and Total N-D Accounts data
both FXCM and Gain the last time I calculated average client account size based on
'165,000' etc is less than $2,500 per account - a Lot of dormant accounts

 

[bstay]

Quote from Wallace:
"Our trading platform is tested in all market conditions, routinely handling over 320,000 trades per day"

it says 320,000 per day. you can't divide by 22

 

[ElectricSavant]

I will tell you why Oanda has profitable traders.

Oanda from the beginning has always offered 1:50 leverage(effective 1:100).

Now what kind of trading does this encourage...? I will let that "little voice in your head" answer this.

ElectricSavant

P.S. New traders- Ask yourselves what this means...How should you trade to be profitable? You answer....