10 Best Forex Trading Platforms To Try Out (Safe & Secured)
Oanda users: Has anyone else noticed a sudden and dramatic loss in quality?
I've been trading forex off and on for a few years with Oanda and never had a problem. Over the last 4 months or so I have been testing a new strategy in the Oanda practice account. Everything has been good. But within the last few weeks every part of there platform seems to suddenly be filled with bugs.
In the desktop app, every time I execute a trade, it crashes
In the mobile app, I try to modify a trade. It gives me a success message but there doesn't appear to be any changes made to my trade
In the web app, I also can't modify a trade. It returns a message about a bad Content-Type header. I've tried this in 3 different web browsers
This is all in the practice account, I have not tried it on the live platform, but I'm hesitant to move my strategy to live trading because of all of the bugs that seem to be coming out of nowhere. Right now I have 2 trades where I included a stop loss, the trade went through but the stop loss is not included. And I can't modify the trade to add a stop loss because that doesn't work on any of their platforms for the various reasons mentioned above. Is this just me or is anyone else having a bunch of issues all of a sudden?
I am looking for an alternative to Think Or Swim since they don't offer forex trading in my state. I want to be able to scalp using order templates straight from the DOM. I couldn't find this feature on Forex.com or Oanda desktop platforms which I thought was odd since that is the only way to scalp these markets quickly. I don't have time to type out orders and stop losses I need a quicker way. Using an order template on DOM
Great new exchange is available now and it won't have the banking problems current ones are facing now
With the banking problems and hacking scandals plaguing crypto exchanges still to this day, a new semi-decentralized exchange is here just in time. I really believe this is the exchange of the future. I know that not many of you are familiar with Lykke yet but it's an amazing startup exchange from Richard Olsen, Forex Person of the year in 2016 and the co-founder of Oanda, the fourth largest Forex trading platform in the world today. If that's not enough to get you excited, the company is based in Switzerland and will hold no assets of their own. They simply provide a matching engine for exchange between buyers and sellers. This type of zero-fee trading service is similar to the Robinhood app for stock traders which recently received a $1.3B valuation. Lykke has been in development since 2013 and is now getting started to deliver big on its promise. It's still in app form but the desktop client and margin trading will be available soon. Sorry, not available in U.S. and AU yet pending regulatory approval but that's coming soon too. Any questions, I can help answer or they have a great team on Slack. https://lykkecommunity.herokuapp.com/ edit: to remove double negative and to say no, I don't work for Lykke. but I do love it
FYI- OANDA clients in certain regions (Europe, Canada, and Asia Pacific for now) can now create MT4 Hedging Compatible accounts in order to view long and short positions for the same instrument on the OANDA MT4 platform. While no actual hedging occurs on these accounts (the fxTrade system will still net out the trades while MT4 displays multiple hedged trades), we are hopeful this functionality will meet the needs of traders either looking to use EAs that require hedging or multiple EAs that may conflict. If anyone would like more details, feel free to view our recent blog post, website, or ask a question here and I'll do my best to answer it. All the best, Alex Case Product Manager of Web & Desktop Trading Platforms at OANDA
ECN. Used most by professional traders. Difficult platform for beginners
Minimum deposit $10000 (or $3,000 if under 25yo) * Well diversified -Oanda
Market maker. Second largest retail FX brokerage in the US. Easy platform for beginners.
No minimum deposit
Not well diversified, but well capitalized -Gain Capital (whitelabel forex.com) *Market Maker *Fair spreads *Minimum deposit $250 *Well diversified -FXCM Inc
ECN. Largest retail FX brokerage in the US
Minimum deposit $2000
Not well diversified. CAUTION: FXCM nearly went bankrupt in Jan-2015 due to a lack of diversification and low capitalisation. As a result FXCM LLC was bailed out with a large loan which may prove difficult to pay back. Be warned that their business may not be sustainable in the long term. -MBTrading
ECN. Mid-sized retail FX brokerage
Minimum deposit $400
International Only- -LMAX (whitelabel DarwinEx) *DMA broker based in the UK. Note that as a DMA broker LMAX eliminates the ability for LPs to last-look transactions. This may result in reduced liquidity during volatile times as liquidity providers would be likely not to risk posting liquidity to LMAX's pool. *Tight spreads *Minimum deposit $10,000 *Fairly well diversified -Dukascopy *ECN based in Switzerland, but available elsewhere depending on local regulations. *Tight spreads *Minimum deposit $100 *Fairly well diversified -IC Markets *ECN based in Australia *Fair spreads on standard account, tight spreads on professional accounts. *Minimum deposit $200 *Fairly well diversified -Pepperstone *ECN broker based in Australia. *Fair spreads on standard account, tight spreads on professional accounts. *Minimum deposit $200 *Not well diversified Software / Apps: Desktop/mobile
Apps are typically broker dependent. Some brokers have their own proprietary software, while others lease common software like Metatrader or NinjaTrader. Some software has a large development community for indicators and EAs.
Terminology/Acronyms: www.forexlive.com/ForexJargon - Common terms and acronyms FAQ: I need to exchange money, how do I do it? This isn’t what this sub is for. Your best bet is using your bank or an online exchange service. Be prepared to pay a hefty fee. I have money in one currency and need to exchange it into another sometime in the future, should I wait? Don’t ask us this. We speculate intraday in FX and shouldn’t be relied on to tell you what’s best for you. Exchange the money when you need it. I have an FX account, should I start trading demo or live? This is highly debatable. You should definitely demo trade until you have mastered how to use the trading platform on desktop and mobile. After that it’s up to you. Many think that the psychology of trading live vs demo trading is massively different. So it may pay to learn to trade live. Just be warned that most FX traders lose almost their entire first account so start with a low affordable balance. What’s money management? Money management is a form of risk management and is arguably the most important aspect of your trading when it comes to long term survival. You should always enter trades with a stop loss - the distance of the stop allows you to calculate how large of a percent of your account balance will be lost if your trade stops out. You can run a monte carlo simulation to figure out the risk of having a number of trades go against you in a row to drain your account. The general rule is that you should only risk losing 1-4% of your account per trade entered. More on this here: www.investopedia.com/articles/forex/06/fxmoneymgmt.asp www.swing-trade-stocks.com/money-management.html What about automated trading? Retail FX traders have been known to program “Expert Advisors” (EAs) to automate trading. It’s generally advisable to stay away from that until you’re very experienced. Never buy an EA from a developer because the vast majority of them are scams. What indicators are best? That’s up to you to test and find out. Many in this forum dislike oscillating indicators since they fail to capture the essence of what moves price. With experience you will discover what works best for you. In my experience indicators that are most popular with professional traders are those that provide trading “levels” such as pivot points, fibonacci, moving averages, trendlines, etc. What timeframe should I trade? Price action can vary in different timeframes. In longer term timeframes the price action and fundamentals are much more clear. Unfortunately it would take a very long time to figure out whether or not what you’re doing is successful on longer timeframes. In shorter timeframes you can often tell very quickly if what you’re doing is profitable. Unfortunately there’s a lot more “noise” on these levels which can prove deceptive for those trying to learn. Therefore the best bet is to use a multi-timeframe analysis, working from top-down to come up with trades. Should I trade using fundamental analysis (FA) of technical analysis (TA)? This is a long standing argument in these forums and elsewhere. I’ll settle it here - you should have an understanding of both. Yes there are traders who blindly ignore one of the other but a truly well rounded trader should understand and implement both into the analysis. The market is driven in the longer term through FA. But TA is necessary to give traders a place to enter and exit trades from a psychological risk/reward standpoint. I’ve heard trading Binary Options is an easy way to make money? The general advice is to stay away from binaries. The structure of binary options is so that when you lose the broker wins. This incentive has created a very scammy industry where there are few legitimate binary options brokers. In addition in order to be profitable in binaries you have to win 55-65% of the time. That’s a much higher premium over spot FX. Am I actually exchanging currencies? Yes and no. Your broker handles spot FX is currency pairs. Although they make an exchange at the settlement date they treat your position in your account as a virtual currency pair. Think of it like a contract where you can only buy or sell it as a pair. In this sense you are always long one currency while short another. You are merely speculating that one currency will appreciate or depreciate vs another. Why didn't my order fill? Even if price appears to cross over a line on your chart it does not guarantee a fill. Different charting platforms chart different prices - some chart the bid price, some the ask price and some the midpoint price. To fill a limit order price needs to cross your limit's price plus the spread at the time that it is crossing. If it does not equal or exceed the spread then it will not fill. Be wary that in general spreads are not fixed. So what may fill at one time may not at another.
The Oanda corporation is a Market Maker Forex brokerage that traces its origins to 1996, when it was incorporated in the state of Delaware. It began offering retail forex trading in 2001 when it launched its trading platform, fxTrade, becoming the first broker to offer fully automated online currency trading. Oanda claims to have completed over 1.5 billion forex transactions. It has offices in ... Now Oanda’s forex trading platform streams prices from HSBC’s dealing desks to the desktops and mobile devices of HSBC’s customers in Hong Kong Forex trading. Trading; MarketPulse; About OANDA. Group. Try demo Start trading. Platforms . OANDA Trade desktop platform. Our commitment to innovation lies at the core of our platform technology. Voted ‘World’s Best Retail FX Platform’*, OANDA Trade offers powerful charting, a suite of trading tools, sophisticated trader analysis and more. Download *FX-Week e-FX Awards 2018. Trade ... Oanda is one of the safest forex trading platforms because of its long track records. It is a Canadian based company but managed by the top authorities such as Foreign Exchange Dealer and the UK’s Financial Conduct Authority. You can open your account with only $1. Though this platform might be too complex for the beginners and it doesn’t provide any kind of protection through negative ... OANDA Forex und CFD Desktop Trading Platform. Mit dem Download, und Installation der preisgekrönten Software, haben Online Trader Zugriff zu einem innovativen Trading Interface, mit kompatiblen Spreads, Markt Transparenz und die neuesten Nachrichten der globalen Finanzmärkte. Die fxTrade Software für Desktops kann benutzerfreundlich, nach den Präferenzen der einzelnen Trader, individuell ... 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 ... When trading time comes, turn off your cell phone and close the door so you can concentrate and implement the trading strategies you learned at Online Trading Academy. Be comfortable One trader sent a picture of himself trading as he kneels on an exercise ball. Another says his setup has a lived-in look because “I live in that chair”.
Demo to NEW LIVE Oanda FX Trader software for forex ...
The OANDA Desktop Trading Platform offers powerful charting, a suite of trading tools, sophisticated trader analysis and much more. This video will walk user... OANDA Desktop Forex Trading Platform Optimus Futures; 9 videos; 507 views; Last updated on Jun 20, 2019; Play all Share. Loading... Save. Sign in to YouTube. Sign in. How to Modify and Close ... Demo to NEW LIVE Oanda FX Trader software Are you interested in: There are 11 tips you need to know how your broker is screwing you to lose. Open source auto... An introduction to ways you can place different types of trades, including limit order and stop-loss orders on OANDA's web fxTrade. Open an OANDA live accoun...