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Oanda

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www.oanda.com/..
Category: Brokers
OANDA provides currency information and services to over thousands of Web sites and businesses. Whether you need to localize prices on your online store or automate receiving foreign exchange data within your accounting and corporate applications...
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One of the best
Some of the smallest spreads you will find out there AND they don't charge you a commission. Don't fall for the crap other FX brokers try to push on you. Contests, rebates, and 'free' cash lure unsuspecting traders to a hell full of high commissions and wide spreads. OANDA beats them all.

The only issue I've occurred with OANDA is their less than fantastic customer service and their act of widening spreads a good 10+ pips around news events. Nothing extremely major, though.

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Really great spread
They have a platform that is compatible with mac's which is great and u can use metatrader. The commissions cannot be beat anywhere else.

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Cjb92 Boca Raton, Florida

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Great for beginners
Oanda is great for beginners and traders with not much buying power. For example you can start with 500 Dollars or even 10 dollars an trade any size of lots and the spreads are the lowest I have ever seen in the Forex Market - EUR/USD 0.9 pips = AWESOME

The chart tools are very good but not great but you gt used to it... I can only recommend it!!!

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Brankonfire Kevelaer, NRW

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Pretty solid
I have enjoyed trading through Oanda but have concerns. The service is not always reliable and of late have had to scramble to reconnect because the system had frozen and in all cases was protected with stops to cover such incidents. Major concern is there tick reporting seems to lag behind the actual tick reporting of other brokers by up to 5 pips when a potential turning point is approached. This means that the effect length of the trade could be shortened by up to 10 pips.

I find the response time for order placement is good and online assistance is very useful. Interest on the capital in your account is also a nice feature.

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Odee911 Vancouver, BC

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need a lot
thye have a low spread but have the leverage only 1 to 50 so its a lost of time to invest money whit this broker .

the platform can be better but they not interested to ofer better quality?? or more leverage options

so i have be very disapointed from this company

when you better maybe i return to you

but 1 to 50 its a joke for traders and for trading

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Happy with Oanda
I have been trading live with Oanda for about 6 months now. Keep in mind my account is still rather small, and I do not trade the news, but so far, I like Oanda for their capability for:

(1) any size account (almost no minimum account balance)

(2) any size trade (not limited by set mini or micro lot size)

(3) possible funding via PayPal

(4) very tight spread (at least during non-news period)

(5) can be traded from my MacBook (not tied to Metatrader)

(6) almost instant execution

(7) very rare (if any) slippage (again, I do not trade news events)

Some possible negatives:

(1) If you trade news, I have seen spread jumping up to 10 pips, (and even once up to 20 pips for fraction of a second on EURUSD,) so Oanda can easily take out news trader's stops.

(2) The charts are a little basic. But I have experimented with analyzing potential setups on a demo Metatrader, and then placing trades with Oanda, without much problem.

Overall, I think most non-news traders can be well served by Oanda.



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Good Introductory FX
This is a great broker for beginners in forex trading. Orders are straight forward with simple exits. There is practically no minimum deposit and there is no minimum order size, an practically no minimum deposit(I believe it's $1) or account balance requirements.

Spreads are pretty small (~1-2 pips). I have yet to find any other broker with smaller spreads.

OANDA was recommended to me in a forex trading course I purchased and I have been pleased with it and would recommend it to others

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Lostfox Raleigh, NC

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Review of Oanda
I have been with Oanda for many years, and in general I have been rather pleased. They state that their spreads starts from 0.9 Pips on EUR/USD and that is true. However they often increase the spread, specially around fundamental news events and psychological numbers. I have seen the EUR/USD spread go up to 10 pips. But this is almost seems like common practice these days, and I think it is difficult to find a broker with fixed spreads these days.

The platform is okay, but nothing amazing. I normally do my analysis through metatrader, and then use Oanda to place my trades. However, you can easily go with the Oanda platform to do this as well. The platform offers a wide variety of technical analytical elements, and they have a free news service which is working alright.

One thing I really enjoy about Oanda is that you have the option to add funds to your account balance through PayPal.

Overall I have been pleased with Oanda

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Tradeprofits Lisboa, NA

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