Anybody know details about the Oanda account through NT Brokerage. I do not trade Forex, but thought I might try it with them. Do they supply the Forex Data? if so, is it good tick data? Good spreads? What are the fees? etc? Thanks,
Right now, Oanda for NinjaTrader is only available for NT 8. Unless there is a very specific NT ATM strategy that you love… it would probably be better just to use one of their platforms.
If using their platform… you can just use whatever Forex data you currently use. ( My FXCM account still gives data… havent had any issues)
These were the current spread prices from Friday at around 1pm EST.
Comparable to Nadex… but unlike with Nadex you are not charged an extra fee to open/close a trade. (also no dealing with premium/proximity) (but with forex on Nadex tends to be less of an issue than with the indices)
Using the USD/JPY as an example… my “fee” to get into the trade is 1.4. So as long as it moves that much in the direction I chose… I will be in profit.
You can however choose to have both a spread and commission pricing option
More information is here
Ive never really looked into it… just because I dont really do a high level of trading… so it may not even be beneficial to me… But the option is there
One of the things I like most about the platform is that you can do one click ordering.
Basically you can have your Take Profit, Stop Loss and Trailing Stop already pre filled and entered as soon as you enter a trade.
From the example… my Take Profit of $75, my Stop loss of $40 and my Trailing stop of $75 would have been entered at the same time of trade entry. All that information can be set to default, so it is automatically filled in for every ticket. (When I tried out Gain/Forex.com… I had to manually enter all that information)
Really the only drawback to trading Forex this way, can be the initial cost to open the trade. Especially with the GBP pairs (thanks Brexit)
From that example to get each pip moved to be $1. It is $677.22 to open the trade. With Nadex, sometimes you can find a nice NTM Spread for around $100
However you can make each pip worth 50 cents etc, if you wanted to put up less initially