"Take Risks: If you win, you will be happy; if you lose, you will be wise. Nothing ventured, nothing gained."

Tuesday, March 23, 2010

Testing Broker: Oanda (Asia Pacific) - FXGame

Testing out new platform with new broker: Oanda. Basically signed up from its subsidiary, Oanda Asia Pacific Pte Ltd, which is located here in Singapore. One good thing about Oanda, is the web-based trade (something i used to oppose) where u can execute or close your trade anything. Currency is based on SGD, or USD whichever u set it.

Signed up the life-time demo account, call FXGame. I'm still in the process of exploring the platform. I don't even know how to see the spread difference as i'm too used to using Metra Trader 4 platform.

I even tested it using my mobile to trade, it is very simple, unless u're using a very good web-based mobile phone, otherwise I wouldn't recommend to trade with it. Or else simply use it to close a trade when u're outside, or when ur internet connection is down at home. Play safe, unstable internet connection for scalpers is hell.

No hurry, lotsa time to explore. Looking to fund a live acct this mid-year, if i like it.


FX said...

Oanda is in a way like a Mac, ones you go Mac (Oanda) you never go back.

To see the spread you click that little triangle box beside the box with letter F up from quote list.

I really like Oanda and it's small spreads.

Black said...

Hi FX, thanks for guiding! I like the way u put it, because I can understand users who never look back to windows after using MAC.

Yes, the tight spread is one of the main thing that really attracts me because smaller spreads defeats having a rebate broker, u save the money instantly.

And if spreads widen during volatility, I can always fall back to FXDD's fixed spread, that's what I'm considering. :\

FX said...

Be careful about widening of spreads at news time on Oanda. Like for gbp/usd spread is then 20 pips, which is big, so it's hard to maintain position in to the news or put straddle close.
I use neat little calendar at http://www.forexfactory.com/calendar.php
All red marked GBP news mean I'm out of the market, or US also.

Black said...

Wow 20 pips is a lot, I can't picture myself going in with a -20 instantly.

Besides news time, the spread are basically halved of what I'm trading now, which is very attractive.

Syed Omar (Hilmy) said...

i've been with oanda for 3 years. I like the platform and the customer service is good. No complaints.

Black said...

Hi Syed, thanks for sharing feedback on ur personal experience, taken note. :)

Beautiful princess there, congratulations!!

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