HWZ Forums

Login Register FAQ Mark Forums Read

[Forex] Oanda? CMC? Philips?

Reply
 
LinkBack Thread Tools
Old 16-05-2011, 10:35 PM   #1
Master Member
 
agenda's Avatar
 
Join Date: Jan 2007
Posts: 4,127
[Forex] Oanda? CMC? Philips?

Guys, I've been using Oanda's demo account for some time now, looking to put some real money in but Oanda's policy is that I need to have traded for 6 months before I can trade live, so I can't use them now.

I've heard of CMC and Philips, and currently looking to get accounts with them, just to check, do they have strict requirements like Oanda?

And I understand Philips uses POEMS and there isn't any demo for it? I mean I'll be a blind mice when trading with them!

Anyone can help me out here? As to whether should I use CMC or philips?
__________________
...
agenda is offline   Reply With Quote
Old 16-05-2011, 11:37 PM   #2
Supremacy Member
 
Join Date: Mar 2007
Posts: 7,456
wow are you serious they need u to trade 6 months?

lol.

how they going to enforce that?

i can just declare i have 10 years experience

lol

Oanda is good
execution is always super fast.

and i feel they're responsible brokers
Forever84 is online now   Reply With Quote
Old 17-05-2011, 12:17 AM   #3
Master Member
 
agenda's Avatar
 
Join Date: Jan 2007
Posts: 4,127
wow are you serious they need u to trade 6 months?

lol.

how they going to enforce that?

i can just declare i have 10 years experience

lol

Oanda is good
execution is always super fast.

and i feel they're responsible brokers
it's starts from the day you use their demo account or you get your previous broker to give them proof that you have traded with them for 6 months
__________________
...
agenda is offline   Reply With Quote
Old 17-05-2011, 12:20 AM   #4
Master Member
 
Join Date: Sep 2008
Posts: 2,513
Dude, just check the checkbox, "I had trade experience of 6 months and more"
This is just to safeguard Oanda, so that newbie wont sue Oanda to say they have little / no exp in trading fx, and Oanda 'cheated' their money.

Oanda is good, spread are decent. Unless you are trading 2-3 standard lots, then you may look for other brokers that offer better spread, if not Oanda is really good.

I agree on the fast execution For responsible broker a not i don't have a say on that, but so far so good, did't have any heart-burning issues =)
__________________
-
iCuteCube is offline   Reply With Quote
Old 17-05-2011, 12:25 AM   #5
Greater Supremacy Member
 
strangerjun's Avatar
 
Join Date: Mar 2008
Posts: 96,237
wow are you serious they need u to trade 6 months?

lol.

how they going to enforce that?

i can just declare i have 10 years experience

lol

Oanda is good
execution is always super fast.

and i feel they're responsible brokers
i almost give up trying to furnish the proof! Still have to get the CSO from another broker for proof.
__________________
In a time of universal deceit, telling the truth is a revolutionary act
strangerjun is offline   Reply With Quote
Old 17-05-2011, 11:37 AM   #6
Member
 
Join Date: Apr 2011
Posts: 129
3 popular brokers in Singapore and their strengths for you guys to consider.

CityIndex – Fixed spreads
CMC Market – Platform has advanced features
Oanda – Iphone Mobile Trading and lowest but variable spreads.
fxgump is offline   Reply With Quote
Old 27-05-2011, 03:30 PM   #7
Junior Member
 
Join Date: Mar 2009
Posts: 95
I had used used the below brokers for Forex, CFD and Stocks:
Oanda (Live & Demo)
FXCM (Live & Demo)
CMC (Live & Demo)
eToro (Demo)
Kim Eng (Live & Demo)
Phillips (Live)
Lim n Tan (Live)

Out of all the above I stayed with Oanda Asia Pacific bcos of the following reasons:
(1) Tight spreads.
(2) Earn interest for unused funds.
(3) No rollover (CMC & FXCM took my money like that)
(4) MT4 + Web + iPhone + Mobile + Desktop (Win & Mac) trading platforms.
(5) Live chat customer service is responsive and helpful.
(6) Can start account with SGD 1.

So I would recommend anybody to use Oanda if possible.
Just my 2c. Thanks.

Last edited by nirenj; 20-06-2011 at 10:58 AM.. Reason: Added Live to Kim Eng.
nirenj is offline   Reply With Quote
Old 28-05-2011, 06:37 PM   #8
Master Member
 
OnlyHuman's Avatar
 
Join Date: Oct 2005
Posts: 4,043
Guys, I've been using Oanda's demo account for some time now, looking to put some real money in but Oanda's policy is that I need to have traded for 6 months before I can trade live, so I can't use them now.

I've heard of CMC and Philips, and currently looking to get accounts with them, just to check, do they have strict requirements like Oanda?

And I understand Philips uses POEMS and there isn't any demo for it? I mean I'll be a blind mice when trading with them!

Anyone can help me out here? As to whether should I use CMC or philips?
You probably haven't come across those fuked up brokers.. Oanda is really kind enough to give you a head's up that .."Hey forex is not ez... u sure u wanna trade live?" ..when most brokers will ask you "How much you wanna put in your live account?" ....
__________________
唯心所現,唯識所變。
OnlyHuman is offline   Reply With Quote
Old 03-07-2012, 09:25 AM   #9
Junior Member
 
Join Date: Apr 2008
Posts: 12
Experience with CMC Singapore

I was happy experimenting with CMC.

However, they have suddenly added a minimum commission, and disguise it as a "platform" upgrade. What it means is that while you have initiated a contract (CFD) with them, they have changed the term of the contract.

I think they are hard-up for commission, and does not really care about their customer.

It is surprisingly for an "established" company to suddenly change its price structure. Perhaps they are not doing well and need such a drastic change.
kmtkmt is offline   Reply With Quote
Old 03-07-2012, 05:18 PM   #10
Master Member
 
Join Date: Dec 2008
Posts: 2,784
For oanda, even if you do not trade fo 6 months, but have a economics/finance/account qualification can already right? I'm on my way to opening a live account.

Also, do they have mini-contract that 1pips is $1 type?
casper86 is online now   Reply With Quote
Old 03-07-2012, 09:05 PM   #11
Senior Member
 
Join Date: Jun 2000
Posts: 1,257
anyone try gftforex?
Jacky2000 is offline   Reply With Quote
Old 03-07-2012, 10:28 PM   #12
Senior Member
 
Join Date: Jul 2001
Posts: 878
I was happy experimenting with CMC.

However, they have suddenly added a minimum commission, and disguise it as a "platform" upgrade. What it means is that while you have initiated a contract (CFD) with them, they have changed the term of the contract.

I think they are hard-up for commission, and does not really care about their customer.

It is surprisingly for an "established" company to suddenly change its price structure. Perhaps they are not doing well and need such a drastic change.
Hi,can explain more on the new fees?I remb I did click yes to agreement recently when I log in to check prices but because I did not trade thus don't know what new changes have took place. I did not read the agreement as well even though I click yes.

I love cmc becoz of the low spread,variety of stocks,no rollover every month like philips and juz charges u financing on your leverage (philips cfd charges you for whole position).

Oanda only has forex and some metals. Any other brokers to recommend?
heng_alvin is offline   Reply With Quote
Old 03-07-2012, 11:17 PM   #13
Junior Member
 
Join Date: Feb 2010
Posts: 62
I was happy experimenting with CMC.

However, they have suddenly added a minimum commission, and disguise it as a "platform" upgrade. What it means is that while you have initiated a contract (CFD) with them, they have changed the term of the contract.

I think they are hard-up for commission, and does not really care about their customer.

It is surprisingly for an "established" company to suddenly change its price structure. Perhaps they are not doing well and need such a drastic change.
I am trading on cmc platform too. There isn't any changes on the spread for forex, commodities and indices. I am getting the same spread for euro, .7-1.2 and silver, 2.5. No commission charged.

I believe the commission update applies on stocks only. I don't think there's additional charges, it's just that the commission is sperated from the spread for better transparency. Sorry i am unable to post any link on this forum. Pls remove the spaces. cmcmarkets. com. sg/commissions-update
Profee is offline   Reply With Quote
Old 03-07-2012, 11:42 PM   #14
Senior Member
 
Join Date: Jul 2001
Posts: 878
went to cmcmarkets to check...indeed company stocks pricing has totally changed. Guess can only play indicies and forex liao. I hate to calculate separately
heng_alvin is offline   Reply With Quote
Old 03-07-2012, 11:46 PM   #15
Member
 
Join Date: Jun 2012
Posts: 250
I am using CMC. Trading only indices and fx.
Love the iPad, iPhone app.

Lazy to change other broker
MegaMac is offline   Reply With Quote
Reply
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.


Thread Tools

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On