FOREX Brokers

Discussions about brokerage firms for futures, stocks and other tradeable instruments.
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drm7
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OANDA vs. FXCM

Post by drm7 » Tue Apr 29, 2003 9:50 pm

I don't know a whole lot about FXCM, but what I like about OANDA is a $1 trade minimum (yes, you read it right!). You can also trade in $1 increments, which allows you do really "dial in" your position sizing. Most other forex brokers seem to have $50k minimums and $10k increments (or more).

Note that I am only on the demo system now (FXGame), but the trading platform and price quotes are identical, and the interface is very slick!

Just my $0.02. You ultimately need to go with the dealer that you feel most comfortable with.

batuco9
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Re: OANDA vs. FXCM

Post by batuco9 » Sat Sep 27, 2003 5:28 am

Any idea how they compare in terms of average carry interest rates?
I should imagine the amounts can get substantial when holding positions for some time.
And any ideas on how to best get Veritrader to include an allowance for carry interest - doesn't seem to be a direct way, for the moment, for it to calculate an estimate in terms of time.
batuco9

Forum Mgmnt
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Post by Forum Mgmnt » Sat Sep 27, 2003 8:02 am

We'd love to add direct testing support for forex carry to VeriTrader, but I haven't had much luck finding reliable historical carry figures for the crosses. As such, I have no idea what form that historical data might typically come in.

Do you know of a good way to get this data?

- Forum Mgmnt

drm7
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Historical Interest Rates

Post by drm7 » Sat Sep 27, 2003 12:53 pm

Forum Mgmnt,


Oanda has a limited (3 year) history of the interest rates that they use to calculate carry charges.

Here is how to get it.

1. Register for the free demo.
2. Log into the demo - the trading screen will come up.
3. Select Resources/Interest Rates and type in the currencies and time periods.

Also, Oanda has a forex data service, so you might be able to dig up interest rates if you contact the operator of the site - he might be willing to do a custom job - for the right price.


-Doug

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