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A Forex Traders Review Of Oanda Fxtrade
The Oanda company made it's name for being a global leader in currency exchange information, but in 2001 they launched Fx Trade which is their online brokerage side of the business. What make this company one of the best forex broker is their policy of providing a non discriminatory trading environment with some of the tightest variable spreads available. It does not matter whether you a novice trader trading mini lots or an institutional customer, both would get the same spreads, the size of your account or trade size does not effect the forex spread available to you. Another great advantage of this forex broker, is the no minimum trade size and there is no minimum amount to open an account. Trade any size Whilst many other Forex Brokers require that you deposit a minimum amount to open an account and trade in Mini lots of 10,000 units or standard lots of 100,000 units. With the Oanda forex trading platform, you can buy a purchase 5, 10 or 20 units, if that is how you wish to trade. On top of that their forum is very helpful and full of great information and once you have an account you get access to some great learning tools and the latest forex news. The leverage is capped at 50:1 which means that for every dollar margin available you can make a 50 dollar trade. This amount of leverage is more than enough for the novice trader to start without loosing their whole account whilst learning to trade forex. No need to download This trading platies is JAVA based, meaning no downloads and the ability to access your trading account from anywhere in the world where you have Internet access and a computer running Java. I have heard complainer from other traders have found this trading platform glitchy and slow. Well I can say that during my extensive use of this platform, I have only had problems a couple of times. The charting packing that comes with Oanda, is easy to use but fairly basic with a fair selection of indicators. Where more experienced forex traders might need more this forex charting package is great for novices. Low spreads Make More Pips The Forex spreads provided by Oanda are some of the lowest in the business, with 1-2 pips between alot of the major currencies. The tend to widen around the time of news releases, then this is probably not the best forex trading platform for you. In summary... Oanda is a great forex trading online platform with no minimum lots sizes, low variable spreads, fast trading and real time pricing. This coupled with a great demo accounts where you can learn forex before moving to a live account. Article Directory: http://www.articledashboard.com You can find FX Trade at fxtrade.oanda.com/ Adrian Faiers has been a currency exchange trader for more than four years to read more reviews of money exchange companies, forex trading systems and forex brokers then check out www.currency-exchange-reviews.com For the latest forex news updates then read my daily forex blog at forex-market-news.currency-exchange-reviews.com/ |
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