NeoTicker and Oanda

[michal.kreslik]

I've just learned it's only a matter of writing the necessary Order Server to bridge the communication between Oanda and NeoTicker.

Oanda is deemed by many professional traders to be the single best FX broker around.

Michal

[cosmic]

Hi Michael,
Oanda has been rock solid under all conditions now for about 8 months for me. Spreads are very good & you can realize every position sizing model with every account size because of the "unit" model.

The platform is minimalistic, but clean & you can even scalp with it if you like to. I still miss some advanced features I know from other frontends like BracketTrader, but I think they will develop it further...

Good evening,
cosmic

[michal.kreslik]

Cosmic,

it's great to have a Oanda user among us. Thanks for sharing your experience.

My questions:
- is the spread really 1.5 points in EURUSD at all times? No hidden costs?
- does it happen that Oanda rejects your limit order you want to place in advance? This happens to me over and over again with CMS thus making my profitable systems unusable if I can't enter a trade
- is the maximum leverage really only 50:1?

Thanks & have a nice day!
Michal

[michal.kreslik]

I've asked Oanda about the way to connect NeoTicker to Oanda order interface and it's possible via Oanda's API:

Ticket Number: HD291102
Short Description: Oanda and NeoTicker

Dear Michal Kreslik

Thank you for your feedback. OANDA has an FXTrade API Client Library available that can be integrated into third party programs to issue trade requests to OANDA FXTrade servers.

For information on the API, please visit: http://fxtrade.oanda.com/fxtrade/api/index.shtml

[cosmic]

Hi Michal,
first of all sorry for the misype of your first name in my post.

Yes, the spread is nearly always 1.5 pips during normal market hours, which I only trade, because I use the CME futures for charting.

Only very, very rarely I have seen it wider to 2-3 pips, but you could have avoided that by looking up the news.

Will have to try your limit order question, the few times I have tried it, it was going through fine. But then I mostly go market. I want to be in or out

Yes, max leverage is 50:1. But who cares, this is enough imho.

Have a nice evening!!
cosmic

[robby40]

I have used OANDA for a couple of years now and have had no problems at all. I have seen the spread on EURUSD go to 10 or so pips around a report after which there was high volatility. They seem very fair in their spreads.

[michal.kreslik]

Robby, thanks for the information provided.

I am planning to write an order interface between NeoTicker and Oanda in C#.NET.

[alexwind]

Hi Michal all the people are using Oanda!

I hope Michal you could write this interface between Neoticker and Oanda very soon, so I don't have to struggle to find other charting packages to do backtesting and see longer time frame

Alex

[michal.kreslik]

Hello, Alex,

Oanda is not bad, but one of my friends who works for a big European bank as a trader, says that Oanda is screwing traders during news. So I'll yet have to reconsider whether it's worth the effort to indulge in writing the interface.

Michal

[Patch]

Michal

If "Oanda is screwing traders during news" releases, then they deserve nothing less in my humble opinion.

Patch the Pirate
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