Thread: OandA or Interbank FX for 1st live acct

Hello All

I will be opening my 1st reside acct at November. I've been using Oanda Demo for months. I chose Oanda since the demonstration has no expiration date. After reading great things about Interbank FX I opened a demonstration and have been using it. I discovered that I am charged'swap' = 1 pip once I hold the transaction available. A search here found that the following post by James 16 in an Interbank FX ribbon:
some info for everyone trading with them. I started a mini account with 15,000 and was getting hit 5 to 7 percent on swaps. They dont provide
credits on mini accounts.
Oanda pays a'charge', but it would appear that Interbank charges you regardless if you are using a mini acct. The pip spread is exactly the same on both platforms for EUR/USD
I do like Interbank FX I am beginning to learn more about the capacities of M4 and would hate to lose this following the 30 days demo endings. However, if another thread is understood by me, I can only point the M4 to another server?
Question. Which, in your opinion, is best to get a new acct. Oanda or mini Interbank FX. I really don't want to start a'standard' IBFX acct since 5K isn't in my trading budget yet.
Thank You.

Thats a tough question lol

Oanda is great because its an internet interface, so that you can trade almost anywhere with internet link, the downside to these is that their charting abilities are sub level to MT4.

InterBank FX wasn't getting very good responses from people here and on MoneyTec forum, particularly with the MT4 platform. I actually want to open a account myself and am going through a decision of which broker to select. There's Alpari for MT4, however I read on its forums that it's not great.

If you download MetaTrader directly in their site (http://www.metaquotes.net) your demo won't expire (point it to metaquotes demo server).

Try CMSFX (http://www.cmsfx.com) they look pretty good and their platform is very good.

Good luck!

Forget the both of these! Go with a preferred broker

btw, savant, is the reason we ought to trade at oanda due to the box choices? LOL!

Originally Posted by ;

Originally Posted by ElectricSavant

I've a very opinionated Response.


Why would anybody trade with anybody besides Oanda? Except maybe for the gamblers who want leverage?

Michael B.

I really don't understand!


Why can I trade with a platform I really don't enjoy? Notably being new. Your opinoin is appreciated by me, and admire it, and maybe I'll change my mind , I do not have a live account yet.

Thank you ElectricSavant and MuddBuhdda, I will see you men enjoy Oanda, I just don't at this stage.

But, as always, great information from this fantastic group!!

Jimmy

Originally Posted by ;

Hello All

I'll be opening my 1st live acct in November. I've been using Oanda Demo for months. I picked Oanda since the demonstration does not have any expiration date. After reading good things about Interbank FX I started a demonstration and have been using it. I discovered that I am billed'swap' = 1 pip when I hold the transaction open. A hunt here found the following article by James 16 in an Interbank FX ribbon:
some advice for everyone trading together. I opened a mini account with 15,000 and was getting hit 5 to 7 percent on swaps. They dont give
credits on mini accounts.
Oanda pays a'charge', but it seems that Interbank fees you no matter if you are using a mini acct. The pip spread is exactly the same on both platforms such as EUR/USD
I do like Interbank FX I am beginning to learn more about the capabilities of M4 and would like to lose this after the 30 days demo endings. But if yet another thread is understood by me, I can point the M4 to another server?
Question. Which is ideal to get a new acct. Oanda or mini Interbank FX. I don't wish to open a'standard' IBFX acct since 5K isn't in my trading budget yet.
Thank You.

Remember that a standard account with interbank nevertheless permits you to trade micro and mini lots in addition to standard. I dont think they have done a very good job of advertising this actuality

I am viewing the in the end of this Oanda tunnel, pip spreads are tighter, they cover you credits, no margin calls, but man I wish they had yet another platform, possibly keep the crappy coffee one for folks with slow connections, however I would like a trailing stop and a freakin ding! When a trade is exucuted LOL.... I am presuming Oanda is going to receive my $300 for a live account... dispite being dingless...

Mike...

Originally Posted by ;

Hello All

I'll be opening my 1st reside acct at November. I've been using Oanda Demo for months. Because the demonstration doesn't have any expiration date, I chose Oanda. After reading great things about Interbank FX I started a demonstration and have been using it. I noticed in my IBFX mini demo that I'm charged'swap' = 1 pip when I hold the trade available. A search here found that the following post by James 16 within an Interbank FX thread:
some info for everybody trading with them. I opened a mini account with 15,000 and was getting hit for 5 to 7% on swaps. They dont provide
credits on mini accounts.
Oanda pays a'charge', but it would appear that Interbank charges you no matter if you are using a mini acct. The pip spread is the same on both platforms such as EUR/USD
I do like Interbank FX I'm beginning to explore the capabilities of M4 and would like to get rid of this after the 30 days demo ends. However, if I understand yet another thread, I will only tip the M4 to some other server?
Question. Which, in your opinion, is best for a new acct. Oanda or mini Interbank FX. I really don't want to open a'standard' IBFX acct since 5K isn't in my trading budget yet.
Thank You.

Eventhough I am not using both of this broker, however I do found them great. If you like to start your journey in forex trading and applying a good money management with small fund as a start, then I would recommended Oanda as your very first live account. Not because Oanda is far better than IBFX, but Oanda is support very flexible lot size. You could practise your money management, position sizing, etc., with only small quantity of fund. If you enjoy MT4 chart, just use it to your chart and implement your trade on Oanda. I use MT4 out of Alpari as my charting tools. And I think any demo account won't be expire within 30 days. Just my 2 cents

I'm thinking along similar lines. . .live account with Oanda and charts from IBFX.

On IBFX my presentation is still going after 30 days and I believe you can recreate another fast if it really does from the MT platform too.

Originally Posted by ;

Eventhough I am not employing both of this broker, but I really do found them good. If you like to start your journey in FX trading and applying a good money management with small fund as a start, then I would recommended Oanda as your first live account. Not because Oanda is better than IBFX, but Oanda is support flexible lot size. You can practise your cash management, position sizing, etc. with only modest quantity of fund. If you like chart, simply use it for your chart and implement your trade on Oanda. I use MT4 out of Alpari as my primary charting tools. And I feel any MT4 demo account will not be expire in 30 days. Just my 2 cents

Originally Posted by ;

Eventhough I'm not employing both of the broker, but I really do found them good. If you like to start your journey in forex trading and applying a good money management with small fund as a start, then I would recommended Oanda as your first account. Oanda is better than IBFX, but Oanda is support flexible lot dimensions. You can practise your money management, position sizing, etc., with only modest quantity of fund. If you enjoy chart, just use it for your chart and execute your trade on Oanda. I use MT4 out of Alpari as my charting tools. And I think any demo account won't be expire within 30 days. Just my 2 pennies

since I stated before ibfx hasn't done an excellent job advertising the flexibility they currently offer. You're able to trade ANY lot dimensions that you are able to trade at oanda. Maybe more. 100, 1000, 10,000, 100,000.

Originally Posted by ;

Hello All

I'll be opening my 1st reside acct at November. I've been using Oanda Demo for months. Oanda was chosen by me since the demonstration doesn't have any expiration date. After reading great things about Interbank FX I opened a demonstration and have been using it alongside Oanda. I noticed in my IBFX mini demo that I'm charged'swap' = 1 pip when I hold the transaction open. An investigation here found the following post by James 16 in an Interbank FX thread:
some information for everyone trading together. I opened a mini account and was getting hit 5 to 7 percent on swaps. They dont provide
credits on mini accounts.
Oanda pays a'charge', but it seems that Interbank fees you no matter if you are using a mini acct. The pip spread is exactly the same on both platforms such as EUR/USD
I really do like Interbank FX I'm beginning to learn more about the capabilities of M4 and would hate to lose this following the 30 days demo ends. However, if yet another thread is understood by me, I could just point the M4?
Question. Which is ideal to get a new acct. Oanda or mini Interbank FX. I don't wish to start a'standard' IBFX acct as 5K isn't in my trading budget.
Thank You.

My suggestion is to have a look at their capitals. Oanda's capital is much more greater than the IBFX's which make Oanda easier. Even in a universe where Refco declares bankruptcy, your finance's safety must be the issue. You do not need to start an account with IBFX because of M4 as you can use it for free. Earning interest on account balance is another advantage that is distinctive that Oanda provides, go with Oanda and utilize M4 free with a different host, I am sure you won't be let down.