Oanda just another bucket shop

[MickMason]

Originally Posted by 4xis2ez

I suppose if CMC gets a bunch of traders doing data release trades, they will probably do the same tricks as other brokers.
For what its worth about Oanda, I don't specifically trade news releases, so that is not a problem for me. I like Oanda for their low spreads, fast execution, and no requotes. I have never had any issues such as stop hunting or slipping entries deliberately in their favor. At times I enter a market order and my fill is better than my quote price at the time of clicking for the order. My only concern is safety of funds with a US broker since their is no regulation. I have some experience trading news with Chicago futures and that is not possible to trade there either, big slippage on orders.
I think if a trader avoids trading news then Oanda is one of the best USA brokers out there.

Ok, so you miss the point altogether, it's not about trading news but not to worry.

CMC don't care whether people trade news, they requote and hedge, collecting the spread and shade, NFP for example must be one of their most profitable times.

Do some sums on your trades Russell, I think you'll find the costs surprising and not anything like the 1.2 pip spread you think you're getting.

[mishak]

Originally Posted by jailumar

I think that the marketmakers in this market are Deutsche, City, UBS, Societe..... not Oanda and the others

Originally Posted by MickMason

What

Hi jailumar
you absolutely right - banks you listed are forex market makers.
Oanda and etc. are just passing the quote from the forex market to their retail customers (starting from $300...). the correct title for their business is bucket-shop

[MickMason]

Originally Posted by mishak

Hi jailumar
you absolutely right - banks you listed are forex market makers.
Oanda and etc. are just passing the quote from the forex market to their retail customers (starting from $300...). the correct title for their business is bucket-shop

lol, you guys must be pulling my leg here, you can't be serious

[TheSpiritZ]

What does "NFP? Mean???

[4xis2ez]

Originally Posted by TheSpiritZ

What does "NFP? Mean???

Non Farm Payrolls for USA.
I have a slogan for Oanda. "Oanda, best bucket shop in the business."

[TheSpiritZ]

I'm not sure what NFP Non Farm Payroll translates to, but I just signed on with Oanda and really like their service a lot. I've had no complaints as of yet.

[4xis2ez]

Originally Posted by TheSpiritZ

I'm not sure what NFP Non Farm Payroll translates to, but I just signed on with Oanda and really like their service a lot. I've had no complaints as of yet.

It is the national monthly employment report for the USA. It causes big forex movement when the economist are way off in their prediction of the actual number.

[4xis2ez]

Hey Mick, when you withdraw your money from Oanda, please do so in increments. According to CFTC, Oanda has $36 million on its hands and if you withdraw all at once, that figure could drop to dangerously low levels.
Funny, FXCM has only $763K. http://www.cftc.gov/files/tm/fcm/tmfcmdata0702.pdf