bobwest 

Alternatively, don't trade spot forex. Trade currency futures. Then you won't be just trading against your broker, and no broker will have a different price. Just a suggestion. Bob.

@Bob, I needed to hear that five years ago after OTA took all our savings-sold us on Forex and lifetime Forex 'ProPicks' (now called 'OTAPicks' after FTC got involved) selling us dreck.
But as far as I am concerned, you can remind me daily and I wont complain!!
We are working toward the goal of never trading Forex again.

In Australia OANDA is regulated by the Australian Securities and Investments Commission (ASIC), and if their activity is suspicious ASIC will investigate them. In my experience Oanda has been pretty good sorting out issues.

In regards to spot trading in general, there are various kinds of CFD brokers - ECN, STP, NDD, Market Makers. Some of them also offer guaranteed fixed spread.

If anything, it is the variable spread that screwed me over a few times. You put the stop order, and it gets triggered 20 pips away during low activity time. Some brokers have the option of choosing either bid or ask for the stop or limit order, Oanda doesn't have it.

tr8er 

This is fraud nothing else. I guess the CFTC is for regulated futures only and not for Forex.

The CFTC regulates fx as well.

Oanda will, if you make enough fuss, reimburse you for at least the most of your loss. Then will chalk it up to "technical difficulties" with their liquidity provider(s).

You must've been trading an exotic.

faithdefender 

Hope I can give my 2 cents. He is right. I think you will find the Currency Futures are a much better choice. I have begun transitioning from Forex to Futures and I finally made some money. (I have a long way to go) But, I have noticed I do not get stopped out nearly as much as with Forex pairs. I "get it" that Forex can be like a spouse and you just dont want to leave, but Futures is better in the long run emotionally and financially because Currency futures are centralized. That alone is enough to get a sane person out of Forex. I am sure some will disagree, but from my experience, the bulk of people making money on Forex pairs, are either selling education or indicators. You cannot trade the pairs, i.e. EUR/JPY, but instead you trade the individual Currency. You can use TradingView simulation to watch your trades play out.

One thing a bit frustrating is the lack of pippettes or a sufficient amount of fractional points in the case of 6E/EuroFX. If you do get stopped out it is a touch of the bid or ask price and not a breach from what I've noticed so far.

Spottrader 

The CFTC regulates fx as well.

I don't think so. Can you provide a reference? I could not find one.

josh 

I don't think so. Can you provide a reference? I could not find one.

https://www.cftc.gov/PressRoom/PressReleases/8224-20

I used to be an NFA member as well.

Both entities are regulating the industry, but in different ways.

Wow, did I miss the move in Euro just seconds ago...

Cheers.

Spottrader 

https://www.cftc.gov/PressRoom/PressReleases/8224-20 I used to be an NFA member as well. Both entities are regulating the industry, but in different ways. Wow, did I miss the move in Euro just seconds ago... Cheers.

Yes, but Oanda is an FCM. They don't have the jurisdiction to regulate a pure FX broker, do they?

josh 

Yes, but Oanda is an FCM. They don't have the jurisdiction to regulate a pure FX broker, do they?

CFTC does it all

CFTC and NFA deems currency a commodity. Simply put there's only enough supply if you want to think of it that way.

Of course the options are regulated as well. I was selling RBOB options to unsuspecting "investors"....A part of my life I'd rather forget. This was before I became Finra registered, just before it was NASD, and regulated by the SEC.

Are you from the US?

josh 

Yes, but Oanda is an FCM. They don't have the jurisdiction to regulate a pure FX broker, do they?

As big as Oanda is I wouldn't doubt it if they deal in other currency derivatives like the swaps etc.

Spottrader 

CFTC does it all CFTC and NFA deems currency a commodity. Simply put there's only enough supply if you want to think of it that way. Of course the options are regulated as well. I was selling RBOB options to unsuspecting "investors"....A part of my life I'd rather forget. This was before I became Finra registered, just before it was NASD, and regulated by the SEC. Are you from the US?

Yes, as my profile (below my name shows), I'm from the US. I just can't find any references to support that the CFTC regulates spot FX. Currency futures, and options on them, of course. But spot FX? Can't seem to see anything that supports that they would have any jurisdiction to regulate a broker which does not have any futures business.