tag:blogger.com,1999:blog-1593646321321250335.post7003760706647096952..comments2023-05-15T01:48:18.604-07:00Comments on Complacent Panda: Reader Email: Setting Up a Forex AccountComplacent Pandahttp://www.blogger.com/profile/17566522990764421703noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-1593646321321250335.post-61128232008944382112009-01-30T10:43:00.000-08:002009-01-30T10:43:00.000-08:00Thanks for the reply Jules. Oanda does look like a...Thanks for the reply Jules. Oanda does look like a much better deal than FXCM. The spread alone would save quite a bit of money over time.<BR/><BR/>As for FXCM's 400:1 leverage, I've gotten used to it =) I never overleverage a position, because I have in the past, and like you say, the entire account can get destroyed pretty quickly.<BR/><BR/>Love the babypips.com website too. I used to have it in the sidebar, but tried to cut back on all the links.<BR/><BR/>Thanks again Jules!Complacent Pandahttps://www.blogger.com/profile/17566522990764421703noreply@blogger.comtag:blogger.com,1999:blog-1593646321321250335.post-60115929416047968612009-01-29T22:34:00.000-08:002009-01-29T22:34:00.000-08:00CP, I use Oanda, so does Tradergav, FX Intraday Tr...CP, <BR/>I use Oanda, so does Tradergav, FX Intraday Trading, and The Lonely Trader. So far, no problem. Gavin and FX seem to like it too :-) System's stable, platform's user-friendly, and the spread's acceptable. They charge you when you deposit and withdraw your funds - I'm not sure how much, coz I don't do the transfers myself. <BR/><BR/>I've not really scalped on Oanda (I usually hold my FX trades), so I don't know if they hate scalpers (Interbank FX does - so I heard). But FX Intraday Trading has been scalping, and to the best of my knowledge, he's happy with them. With Oanda, you can start your account with any amount - even a dollar (but of course that's dumb coz you won't be able to buy anything). Leverage for the normal pairs is capped at 50, (for the exotic pairs it's 20 I think). I personally stick to a leverage of NOT more than 10:1. Beware of brokers that offer you 500:1 leverage. Your account will be wiped out in a heartbeat. This is a great forex site for beginners: http://www.babypips.com/Juleshttps://www.blogger.com/profile/13279368221859540562noreply@blogger.com