Oanda lowered spreads!

GBP/JPY: 6 -> 4
EUR/JPY: 2.3 -> 2
GBP/USD: 2.8 -> 2.5
USD/JPY: 1.8 -> 1.6

Great news for us active traders!!

Oanda would be much better if they would add trailing stops, OCO orders, be able to straddle the account (long/short) and increase the leverage to 100 to 1.

[tbtrades]

I don't really like them...I would prefer ecn broker

[ScotTrader]

Originally Posted by tbtrades

I don't really like them...I would prefer ecn broker

I have to agree with you, there is an article of Forex Broker Reviews which reckons that market markers are a bad idea and ECN's a probably best.

ECN brokers don't mark-up the spread, so spreads can fall to as low as 0.1 pips during times of high liquidity, your orders are always filled at the best possible price (albeit this is not always exactly the same as the price you clicked on) and the broker simply charges a small commission on each lot turned around. ECN brokers are great for scalping, the broker doesn't mind scalpers as the market (not the broker) fills your orders. Market Makers generally don't like scalpers as they are like scalpers themselves and a scalper doesn't like being scalped.

[ScotTrader]

Originally Posted by LanaMay

Oanda would be much better if they would add trailing stops, OCO orders, be able to straddle the account (long/short) and increase the leverage to 100 to 1.

They can't increase leverage to 1:100 if they want to do business in the USA. I believe leverage over 1:50 is illegal in the land of the free. Online gambling is illegal in the USA too actually, along with CFDs.