Oanda users

[GenerationX]

Any one using this to trade forex? Happy and unhappy ones can give some feedback? How to deposit money and how to withdraw money? ANy charges for withdraw?

I heard of duno open USD account and Aud account thingy cos of some rules.. what is it already ar? long time no touch liao wan to make a comeback

 

[chankh70]

It's much cheaper if you open an account at OANDA Asia Pacific. It's will be a Singapore$ account. You can deposit your funds via Internet banking. Best of all. no Fees are applied for the first internet banking withdrawal processed in a calendar month. If more than one withdrawal is processed within a calendar month, a fee of SGD15 will be deducted from the withdrawal.

 

[GenerationX]

It's much cheaper if you open an account at OANDA Asia Pacific. It's will be a Singapore$ account. You can deposit your funds via Internet banking. Best of all. no Fees are applied for the first internet banking withdrawal processed in a calendar month. If more than one withdrawal is processed within a calendar month, a fee of SGD15 will be deducted from the withdrawal.

ok. Then how is it being charged when i buy a pair? also buy in S$?

 

[chankh70]

You trade based on SG$. They will convert it to US$ when you trade US pairs. Try it on their demo account and you will understand better.

 

[LordBevan]

Can i open a USD account if i am trading mostly USD pairs?

i don't like the idea of forced conversion

 

[chankh70]

You can create an subaccount based on US Dollar (USD). Subaccounts are linked to your primary FXTrade account, so you can transfer funds between these accounts.

You may transfer funds freely between primary account and subaccounts, or deposit funds directly in to a subaccount in the currency of that subaccount. Pleae call local Oanda office for more details.

 

[GenerationX]

Is there any stop loss required? some brokerage have if more then 100pips will eat u liao. this one can i just leave it there even exceeded 100 pips?

 

[chankh70]

Is there any stop loss required? some brokerage have if more then 100pips will eat u liao. this one can i just leave it there even exceeded 100 pips?

What you mean???? Stoploss are support to be setup by you to limit your loss.

If you never setup stoploss, you may stop out by having a margin call by the broker if the trade went again you.

 

[GenerationX]

What you mean???? Stoploss are support to be setup by you to limit your loss.

If you never setup stoploss, you may stop out by having a margin call by the broker if the trade went again you.

i dun wan the default 100pips. Previously i on etoro then everytime gena loss cos it just cut me off after 100pips and went BACK to my favour.

 

[stevetan2010]

i dun wan the default 100pips. Previously i on etoro then everytime gena loss cos it just cut me off after 100pips and went BACK to my favour.

东西是死的。
人是活的。

Problem doesn't lies with the trading system, problem lies with the trader. I also always kana stop loss but I dun complain. I just analyse why. Patience bro patience. Part and parcel in forex. Understand how oanda system works and adjust your system accordingly.

 

[chankh70]

i dun wan the default 100pips. Previously i on etoro then everytime gena loss cos it just cut me off after 100pips and went BACK to my favour.

I see you are using eToro. eToro places an automatic Stop Loss order on all your trades to prevent you from losing more than you've invested. If the rate of your open trade drops below what's covered by your investment, the trade is closed by the automatic Stop Loss.

All broker have automatic Stop Loss with it named margin call. You should check your money management if you plan to trade on real account to avoid getting margin call.

 

[Mr Threepwood]

got to bump this,
my feedback on oanda,

it seems to always hit my stop and then bounce back. Very coincidental.

 

[quantcall]

got to bump this,
my feedback on oanda,

it seems to always hit my stop and then bounce back. Very coincidental.

is your stop loss very tight?

 

[archcherub]

got to bump this,
my feedback on oanda,

it seems to always hit my stop and then bounce back. Very coincidental.

please update your stoploss here so that we can benefit

 

[OnlyHuman]

i think the thing i hate Oanda most is the spread during major new releases.

Can you imagine, 40 pips spread on NZD/USD. 40 pips!! Its the spread! Sweep every Oanda users clean clean. LoL