Oanda FXTrade

Oanda FXTrade

With the precision and accuracy offered by today’s computing systems and real-time market reporting systems, it’s interesting to note that many forex trading companies still rely on dealing desks and other manual intervention to execute trades and perform other trading activities, often resulting in delays that can cause a variation of spreads or other anomalies that stray from real-time data. OANDA is a company that seeks to move away from those difficulties by offering a fully automated trading environment, featuring real-time spreads as well as near-instant executions and continuous interest payouts. OANDA has continually introduced new innovations to the forex arena, and continues to strive to remain at the cutting edge of forex trading technology.

About OANDA

OANDA was co-founded in the mid-1990s by Dr. Michael Stumm, professor of Computer Engineering at the University of Toronto computer engineering professor Dr. Michael Stumm, and Dr. Richard Olsen of The Olsen Ltd., a leading econometric research and development firm. In 2001, OANDA launched its trading platform, FXTrade, which was one of the first fully automated online currency trading platforms then available.

OANDA reports it handles more than a million queries each day, and estimates that more than 20 percent of the world’s online spot forex transactions occur through its servers. As an account service provider (ASP) company, OANDA serves more than 75,000 ASP clients globally.

The OANDA corporate team includes a four-member board of directors and a seven-member management team.

Key Registrations

Incorporated in the State of Delaware, OANDA is registered as a Futures Commission Merchant (FCM) with the U.S. Commodity Futures Trading Commission (CFTC), and is a member of the National Futures Association (NFA ID #0325821).

Funds are held at top-tier banks, such as J.P. Morgan Chase, Royal Bank of Scotland, Deutsche Bank, and the Royal Bank of Canada, and are withdrawn only as the result of customer request during trading and account activity.

Vital Trading Information About OANDA

OANDA uses a proprietary 100 percent automated trading system, affording real-time executable and transparent pricing, instant settlement and deal confirmation, and continuous interest payments. There is no dealer intervention. Trading activities are performed via OANDA’s trading platform, FXTrade. For a tour and demonstration of the platform and its performance and use during trading activities, OANDA offers video-based tutorials: http://fxtrade.oanda.com/forex_trading/fxtrade/take_a_tour/

Minimum Deposit Amounts

OANDA does not have a minimum deposit requirement, and allows trades in any size without lot size requirements.

Account Set-Up

Account set-up takes about 10 minutes or less and can be initiated via an online form located here: https://fxtrade.oanda.com/your_account/fxtrade/register/individual/beforeyoubegin

During online registration, users will need to provide data including account currency type and personal and financial information, as well as answering regulatory compliance questions. Once the online form has been submitted, users will be asked to forward scans of government-issued identification and proof of residence to OANDA’s offices for account confirmation. As soon as the account is confirmed, login information will be provided and you will be asked to wire funds to open your account.

Demo Accounts

OANDA calls its demo account FXGame, and offers it to all potential traders free of cost, with no time limits or expiration dates. Users interact with the same features as are available with active accounts, including the same user interface features. The game allows users to trade under real market conditions using live, “actual market” prices and spreads, to fully synthesize the trading experience and give both novice and experienced traders a feel for the features offered by the actual OANDA trading platform, and an opportunity to safely try out new strategies before implementing them with real cash. FXGame also allows users to access news, analytical tools, charts and other tools and data available to users of the actual trading platform.

Dealing Desk

OANDA does not employ a dealing desk.

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FxPro

FxPro

FxPro. When it comes to forex trading companies, bigger isn’t always better. Such is the case with FxPro, a full-service company with a six-member management team that earned top awards from World Finance magazine. Offering the same services as larger trading companies, FxPro prides itself on providing excellent customer service and attention to details, making it a favorite among traders of all sizes.
About FxPro

FxPro is a full-service forex market trading services company, offering a wide range of financial instruments, including metals, foreign exchange, futures and indices and Contracts for Differences (CFDs) on stocks. Founded in 2006 as EuroOrient Securities & Financial Services Ltd by a group of dedicated and experienced financial experts, the company changed its name to FxPro Financial Services Ltd and today serves clients in more than 120 countries, 24 hours a day, seven days a week. With physical locations in the United Kingdom, Russia, France, Greece and Austria, FxPro prides itself on its culture of corporate social responsibility, and employees regularly volunteer in the communities where they are located.

Chairman and founding partner and Denis Sukhotin leads the six-member FxPro management team. Sukhotin holds a master’s degree in finance and economics from the Moscow Institute of Entrepreneurship and Law, and a diploma in business administration from Limassol, Cyprus’ CTL College. In 2009, World Finance magazine named FxPro as Europe’s ‘Best Forex Broker.’

Key Registrations

FxPro is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC, http://www.cysec.org.cy) the regulatory and supervisory authority for the financial services industry in Cyprus. CySEC is a member of the CESR (Committee of European Securities Regulators).

The company operates under the EU Markets in Financial Instruments Directive (MiFID) and under the Cypriot Investment Services and Activities and Regulated Markets Law of 2007 (Law 144(I)/2007). Adopted by Cypress in 2007, MiFID provides regulation of investment services firms operating within the European Economic Area. Lnks to licenses, policies and procedures adopted under MiFID guidelines can be seen at https://www.fxpro.com/licenses.html. FxPro also holds a cross-border license, allowing the company to operate internationally.

Vital Trading Information About FxPro

With its real-time charting and analytics, FxPro offers a wealth of opportunity and options for both experienced and novice traders. FxPro also offers several powerful and popular trading platforms, including

* MT4 Standard
* iPhone
* WebTrader
* MT4 MultiTerminal
* Mobile PDA SmartPhone

Trading conditions and platforms can be seen at https://www.fxpro.com/trading-conditions.html

Minimum Deposit Amounts

The minimum initial deposit required to open an account is $500 or equivalent in EUR, CHF, GBP, JPY. Both deposits and withdraws can be made using a variety of options, including bank wire transfers; Visa, Visa Electron and Visa Delta; MasterCard; Maestro International and Maestro UK; PayPal; Neteller; and Moneybookers. All options can be used without incurring charges from FxPro.

Account Set-Up

Setting up an account is a simple process that can usually be completed in five to ten minutes, and involves just a few steps:

* Complete the registration form, including the email address you want to have associated with the account
* Activate your account by clicking on the link that will be emailed to you after you complete the registration form
* Create your password and check your email once more for your trading credentials
* Login to your FxPro account
* Upload required documents, including personal identification and proof of address (you can see the specific requirements at this link: https://www.myfx.pro/kb/34)
* Deposit funds

Demo Accounts

In addition to its full-service trading accounts, FxPro site offers a demo account to allow potential clients an opportunity to fully explore all of the options available to them through FxPro. With a $100,000 USD unlimited Demo Account, novice traders are encouraged to explore the world of currency trading, learning new skills and enhancing current knowledge. The no-cost, no-fee demo allows users to test their strategies using real-time quotes and real market conditions, with charts and other analytic tools that can help you become comfortable in the currency marketplace. FxPro’s demo account also allows users to track the performance of both short- and long-term strategies without any risk or obligation. All analytic tools and charts in the demo account are the same tools active accountholders use every day, meaning inexperienced traders can see how a real account would actually behave.

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Dukascopy

Dukascopy is a Swiss brokerage forex house which was established primarily to serve the needs of institutional and other large-volume traders, offering both automated and anonymous trading options and one-click execution for even large orders.
About Dukascopy

Founded in 1998, Dukascopy offers direct access to the Swiss Foreign Exchange Marketplace, and offers the largest pool of spot forex liquidity for its clients. Drawing from an extensive network of banking partners, Dukascopy offers full Prime Broker capability and is committed to transparency and security in the forex industry.

Dukascopy’s corporate hierarchy includes a four-member executive committee that oversees four divisions: IT and Operations; Marketing and Sales; Logistics and HR; and Finance and Risk Management.
To keep things interesting and encourage transparency among its traders, Dukascopy also offers a “Trader of the Month” contest for its clients, awarding the trading account with the best performance a personal invitation to the company’s office in Geneva to receive a Swiss Luxury Watch valued at 15000 CHF. Past winners include ex-Presidents Bill Clinton (USA), Pascal Couchepin (Switzerland) and Vladimir Putin (Russia), and ex-UN Secretary Kofi Annan.

Minimum Deposit Amounts

Dukascopy (Suisse) SA offers Forex trading accounts both to individuals and to institutional clients. The company’s services are optimized for institutional trading, and recommended deposit size for these accounts is 50,000 USD and up. For individuals, minimum deposit amounts vary based on the type of account, and range from $5,000 for a retail account to $1M for a VIP account, which includes extras such as a personal VIP account manager and priority in both trading support and technical support features.

Currently, Dukascopy accounts support the following seven currencies: USD, CHF, EUR, GBP, JPY, CAD and AUD. Funding for accounts can be made through wire transfer, bank guarantees, and Swiss custodian banking services (segregated Swiss bank account). The minimum deposit for the Swiss custodian account is 250,000 USD.

Account Set-Up

Setting up an account is relatively simple using the company’s online form. Registration requirements vary for individual and legal entity accounts. Both require filling in the trading agreement form and the form to request an account opening, a certified or notarized copy of an ID or passport and a copy of a utility bill showing proof of residence. Legal entity accounts must also provide a full set of corporate documents and the corporate resolution authorizing the account to be opened. For both individual and legal entity accounts, all forms must be mailed to Dukascopy for review and approval. Once approved, an account number will be provided and an initial deposit of at least $5,000 USD or equivalent in other currencies must be made via wire transfer. Once the account is funded, login information and password will be provided.

Demo Accounts

Dukascopy offers a 14-day demo account that allows registrants to trade using the same functionalities and same data feed as are offered by the Live SWFX – Swiss FX Marketplace. The demo is free to use for a 14-day trial and requires filling out a simple, online form. Once registered, demo account users will have access to all of the same features as regular account traders, offering novices an ideal way to familiarize themselves with the account options. Dukascopy recommends use of its demo account for all prospective clients, especially individual accountholders.

Dealing Desk

There is no dealing desk execution at Dukascopy.

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