Hello, I am located in the US and have opened a demo account on both Oanda and TD for the past 2 years. I have found both platforms suitable to my needs (fxTrade and ToS), but am confused by all the fine print and am looking for pros and cons of each brokerage? I use TD for my IRA and at one point another investment account, I like the fact they have physical locations in my area, customer service reps, established company, etc. On the other hand I know Forex trading is just one service they offer (not a primary focus I am sure) and dislike the $2,000 minimum requirement. I understand Oanda to be a reputable broker with great service, but my primary concern is getting my money out, associated fees, finance charges, etc. I would ideally like to keep withdraw money as I make it (i.e. I make $100, I would like to be able to easily transfer that $100 to my bank account with NO FEEs at anytime). My plan is to fund an account with $2,000, but I do not want to re-buy in if I lose it all, and in the case with TD if I lose $500, I can no longer trade on margin (I believe). I also do not want to be on the hook for additional money if I lose it all as well. I plan to scalp/swing/day trade (in my demo accounts I think the longest I have held an open position is like 3 hours), and when I trade I do not plan on leaving my computer screen and monitoring my trade in addition to setting limits, so I will hopefully catch myself before I fall too far. I guess I am looking for anyone's experience (located in the USA), positive and negative, with either or both brokerages. Thank you.
So the general idea is that TD is an introducing broker to Gain (Forex.com) and it even says on the sticky info thread here. Thing is, I pulled up both live accounts and Forex.com and TD do NOT have same spreads. TD also has floating margin requirement that is not present on Forex.com. Right now there is 3% margin requirement on EUUSD while Forex.com has usual 2%. Forex.com usually has 1.2 - 1.5 pip spread on EU while TD majority of time is 09 to 1.0 pip spread. USDCAD spread is 0.2 - 0.4 pips worse on TD than Forex. So clearly there is some differences here. Meanwhile ATC is completely identical in everything to Oanda. So what is TD ameritrade??
Hi All, I unfortunately have zero experience in the forex markets, and I am unsure if something like this has already been asked and answered a dozen times, but I have a question I am hoping you can help me with. I would like to know if there are forex brokers out there that provide margin based on net currency exposure and not just currency pair position exposure. For example, say I have the following positions:
Position (+ for long; - for short)
I apologize if I screwed up the quoting conventions, but the idea is that I have entered into three leveraged positions with effectively net zero exposure to any of these currencies. If these positions could be settled as is, I would be left with close to a zero net change in my brokerage account. I am wondering if there are forex brokers that will give a trader back some margin to be used to open other positions when existing positions like these are open. I understand that there is still some risk that one of these pairs can become dislocated from the market, but I would assume that to be swiftly corrected by arbitrageurs. If this is a stupid question because many brokers do this (I only briefly looked at OANDA's margin requirements), please point out to me a link or document that goes over the mechanics of this. If no brokers do this, I am curious to know why you think they don't.
Normally, I would not post this as we should all be adults and know how to use a forex calendar and read the news. However, a rash of posts both here and abroad on the net that essentially are asking how to get megapips off of the Brexit vote have me concerned, so here we are. Also, people seem to be overlooking the big elephant in the room, the June FOMC. Short version: WED JUNE 15 1400 EST FOMC STATEMENT Whether you like it or not, the USD touches everything you do, like those bad decisions you made in University. THURSDAY JUNE 23 UK BREXIT VOTE This really could be underwhelming.... or it could be horrific. If you are a n00b, stop trying to get rich off of the Brexit vote. You need to concentrate on successful, positive trades, not big wins. Go gamble if you want that rush. The Brexit vote is one of those events that can cause such precipitous damage to accounts that Brokers are limiting retail leverage and raising margin rates: (from Oanda)
Dear Huachi During events such as the upcoming Brexit referendum, market movements can be significant leading to the potential for large profits, but also large losses. To help ensure our customers are more insulated from such movements, we will be temporarily lowering the maximum leverage available on GBP pairs to 20:1 after the market close on June 17, 2016. The affected pairs will return to prior leverage levels after the market close on June 24, 2016. As a result of this change, you may need to close trades or add funds to your account or risk a possible margin closeout if you currently have an open GBP positions with higher levels of leverage and do not have enough funds in your account to cover the increased margin requirements. To determine the impact this change may have to your margin, you can use OANDA’s margin calculator. Margin rates on pairs not containing GBP will not be affected. If you have any questions, you can contact our Client Experience Team whenever markets are open. Regards, The OANDA Team
And FOMC? The June FOMC is not just any FOMC, it will really be a bellwether for 2016 for the Fed's direction with interest rates until election and Christmas. Will they stick to their word and raise rates? Or change course and have a flat rate, showing their weak hand? There are estimates in both directions (some showing preciptious cliffs, some showing seismic movements back and forth), but again, unless you are confident in your analysis, market intel, and skill set, pay attention because the June FOMC has a potential for a radical whipsaw. I'll take this down in a few days, it is not a soapbox, but there is some real shit in the market right now that has capacity to wipe out accounts. Noobs watch out, you pros too! ~Huachi
How to calculate the margin and pip value of CFDs (such as Stock Index), specially, Oanda CFD?
Hi all, To extend my vision, I start studying CFDs, such as Stock Index, Oil, Commodity, etc. Unlike Forex, I don't understand how margin and pip value is calculated for Stock Index and other CFDs. I tested with Oanda CFD, seems the margin for 1 unit UK 100 is about $10000, and 1 unit Brent Crude Oil is about $50. Seems the margin for BCO is just the price of the oil, but how about the Stock Index, what's the price? Thanks EDIT: the margin I talked above is the total money required, not leveraged. And the leverage provided by Oanda is 50. So the leveraged margin for 1 unit BCO is only $1. EDIT2: Though on Oanda forum nobody answered my question about what the multipliers are, eventually I realized for fxTrade the multipliers are just 1, but different conttacts are quoted in different currency. FTSE is quoted in GBP, so 1 contract value is 7000 GBP, which is about 10000 USD, which is exactly how I observed. And the pip value is always 1 quote currentcy. For FTSE, the pip value is 1 GBP, which is about 1.5 USD.
I've recently begun studying forex trading. I opened a practice account with oanda and was funded $100,000, which with their 2% margin rate would require a $2,000 deposit from the investor? I sold a large amount units of EUUSD (I realize this was a very unrealistic/foolish investment for my amount of capital, but I just wanted to see how it would move) Well I got lucky and it dropped about 50 pips for a $5,000 profit. My balance now shows about $105,000usd. My question is, do I hold a 2% share of the 105,000, leaving me with an actual profit of $100 or is the profit solely mine and I now possess $7,000. Thanks
The regulator allows 50:1 leverage on EUR/GBP, but because you have selected a 20:1 leverage for your account, a leverage of 20:1 (or 5% margin requirement) is used. Your margin used is position size x Margin Requirement = 10,000 EUR x 5% = 500 EUR. The Margin Used in your account currency = 500 x 1.13205 = 566.025 USD. FOREX.com offers several pairs at the lowest margin rate of 2 percent, including EUR/USD, USD/CAD and EUR/CAD. Other major pairs like USD/JPY, GBP/USD and AUD/USD have a margin rate of either 3 or 4%. OANDA hosts one of the longest-standing forex forums on the web. Since June 2000, our forum has given forex traders a vehicle for sharing views, airing grievances, and learning from each other. Membership in the OANDA Forex Forum comes with searchable access to diverse topic threads dating back to the very first forex forum posts. Join in on the discussion with fellow OANDA traders by signing ... Also, effective today, October 19, 2020, OANDA Japan is changing the margin requirement for EUR/NOK from 3% to 2%. The latest changes to margin requirements are attributed to the recent market situation. Earlier in October, as FX News Group has reported, the Japanese FX broker revised the margin requirements for a raft of pairs. For fxTrade (NY server) accounts, the new margin for AUD/JPY, NZD ... See OANDA's margin rules for information on margin, margin closeouts, and how they can affect you. Warning: These figures are subject to change when NFA requirements are updated. To avoid margin closeouts, ensure you have sufficient additional margin in your account at all times to address updated margin requirements. The Commodity Futures Trading Commission (CFTC) limits leverage available to ... Oanda forex margin requirements. 10.06.2017 Adept 4 Comments . News articles and trades ideas should be posted with your analysis or a question. Post an article, requirements link to multiple articles with your analysis in it. Also, concerning your analysis, see The following should go without saying There oanda a thin line between promoting a product and service and SPAM. Before you can post ... As FinanceFeeds reported, FOREX.com Japan has also amended its margin requirements for traders in a raft of currency pairs. The increased volatility has exposed a set of trading issues. A week ago, OANDA Japan warned about the performance of MetaTrader 4 (MT4) during the recent spike of market activity. Should your margin level then drop to 50%, you are no longer meeting your margin requirement and we shall trigger margin closeout, whereby we automatically close out one or more of your positions, starting with the position with the largest loss on an open market. Note: in fast-moving markets, there may be little or no time at all to warn you. Margin requirement may be greater if a platform leverage ratio other than 50:1 is selected. View our margin rates. Events impacting spreads . At certain times and in certain market conditions, our spreads could be wider than usual. This includes: Opening and closing of markets. Major international or geopolitical events which have an impact on the relevant market(s) in other particular ... Online trading company OANDA Japan is planning to change margin requirements for several currency pairs, with the changes to affect fxTrade (NY server) and OANDA Japan FX (Tokyo server) corporate accounts. In an announcement to its clients, the Japanese broker said that the changes will be effective October 12, 2020. For fxTrade (NY server) accounts, the new margin for AUD/JPY, NZD/JPY, GBP ...
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