leverage with oanda? any hidden fees?

[lulu2199]

Hi,

I am currently considering starting acc with 1000$, with 20/1 leverage to make trades of 20000$. However, even though oanda says that theeree is no transaction fee, it seems to good to be true...

Is there anyone who currently uses leverage from oanda?

Thanks!

 

[Enivid]

Why? What's so special in 1:20 leverage with no fees? They still have spreads.

 

[lulu2199]

I know but apparently, they have relatively low spread

 

[Enivid]

So what's your worry? There are brokers with similar spreads but higher leverage and no other fees.

 

[Easy Trader]

You pay the spread thats it, there will most likely be fees associated with withdrawing money out of your trading account.

 

[lulu2199]

So what's your worry? There are brokers with similar spreads but higher leverage and no other fees.

haha nothing really serious, just looking around to see what are the potential problems. I recently realized that my Oanda demo account uses 20:1 leverage, this is why I have made 36000$ in just 17 days of trading with 100000$ beginning balance, taking all these holidays of Xmas and holidays in account.

Therefore, I must watch out for any extra/hidden fees that are in leverage. On babypips, they said to watch out for these brokers who charge transfer fees when they give you leverage.

 

[Emibluz]

Definitely no. Oando practically has no transaction fee nor hidden charges in its leverages. Surely they should be honorable since they are regulated. But something surprising despite their regulatory license is their suspicious service & spread quality which often widens upon an inconsistent (in terms of execution speed) platform; so that one cannot cancel the order. It is your luck at what price it will be filled, same way when you want to exit the order, and they are largely accused of being disguised market maker. This necessarily puts a doubt on the safety of regulated brokers, doesn't it?