However, they are not suitable for “scalpers” because their spreads always widen (and sometimes very significantly) when markets are volatile. Also you cannot hedge on the same pair – ie go both long and short. The other main advantage of Oanda is that they pay interest on a minute by minute basis on any money deposited with them. I believe they are the only company to do so. One other option to consider is not to fund your account with such a large amount – start very small and pay in only as much as you need to avoid a margin call. I should also add that I have had an account with Oanda for almost two years but not connected with them in any other way. The above represents my own personal views.

I hope this gives you enough background. You can always post questions in some of the forex forums – oanda run one themselves where you will find some very trenchant views. Finally I think you should contact them direct and the question to ask is the level of compensation in the event of their failure.

I trust the above helps but if you need further assistance please just drop me a line.

Kind regards Anna