Sunday, June 7, 2009
Oanda FXTrade Forex Broker and Platform
OANDA FXTrade is a Forex Broker with their own Trading Platform and they are owned by OANDA corporation. The platform is developed and used by OANDA only, as far as I know. The interface is simple and easy to use, and is the platform of my choice.
A Forex Trading Platform is a piece of software that allows the trader to do the daily trading operations like buying, selling, setting stop losses, setting take profits, trailing stop losses and so on. A Trading Platform will definitely also provide the currency pair charts of different timeframes and also provide a certain amount of indicators for analysis.
It is very easy to trade using the OANDA platform and it is very easy to access a lot of currency pair charts. This is my primary trading method. Below, I am highlighting OANDA’s main advantages and disadvantages:
Advantages
- Easy to use
- Uses Java, and thus, can be access from a web browser from any computer
- Has a lot of customizable indicators to use
- Trading is fast and easy, and can be done by clicking on the chart
- Can customize the look and feel of the windows
- Ability to access news and forums from the platform
Disadvantages
- Not accessible sometimes, during maintenance periods
- Not as programmable as MetaTrader 4 in terms of adding expert advisors
OANDA FXTrade, is also a good broker that supports Paypal deposits and withdrawals. Sometimes their deposits can take less than a working day and their withdrawals take around a day or so. The best thing about OANDA FXTrade is that, they even allow traders to deposit and start with $1!!
To check out the OANDA FXTrade Platform, you can go to the OANDA FXTrade main site.Add comment
Fill out the form below to add your own comments