Compare the currency trading between the CMC market and Oanda – which is the best?
I have an account with CMC Markets and Oanda – I like the interbank fx that CMC Markets uses, and I like the way you can drag charts and resize them. I also like the fact that your money (I collect) is left in Australia or UK depending on where you are located, and the CMC market is large enough that it should be safe (they have a separate customer trust account)
On the negative side, the CMC Markets Marke tMaker trading platform may be a little slow (especially when prices change very fast!) And it's easy to re-quote (more questions if you trade CFDs I collect), and all Like the brokers, they seem to have an attractive magnet between price and your stop, and the exclusion magnet between the price and your profit order! But this is no better than any other brokers or spread trading providers. I have checked a few times when CMC has suspicious price peaks when it's not just them. The minimum lot size is 10,000 pounds (cable and gbp / jpy), 10,000 euros / usd, most of the other 20,000 pairs.
Overall, I think I like Oanda for better Forex trading – they are American but have a good reputation. I like the online trading platform – it is easy to track your account and they accept limit orders / stop orders and profit taking – CMC Markets will allow you to do one or the other (if the order is completed) or OCO ("One Cancellls Other" ) To set a stop loss and to profit from open orders; in this Oanda easier to track. Most importantly, Oanda allows you to trade packages of any size, I strongly recommend starting small volume (1000 packages), I just lost too much real money with the CMC market. However, this is just a demo account than trading because it is still the real money, and better, this is the best way to improve your trading skills. The charting tool itself is not so good, but you can always use the Metatrader or CMS Visual Trader demo or the CMC Markets Market Maker platform as your primary mapping platform