Can I avoid financing charges by using a different trading strategy for cryptocurrencies on Oanda?

3 answers

• Mohamed BraskJan 05, 2021 · 5 years ago
  Yes, it is possible to minimize or avoid financing charges when trading cryptocurrencies on Oanda by using different trading strategies. One strategy is to engage in short-term trading, where positions are opened and closed within a single trading day. By avoiding overnight positions, you can avoid incurring financing charges. Another strategy is to utilize margin trading with your own funds instead of borrowing from Oanda. This way, you can avoid paying interest on borrowed funds. However, it's important to note that each trading strategy comes with its own risks and potential drawbacks, so it's essential to thoroughly research and understand the strategy before implementing it.
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• Ashley DakajDec 06, 2022 · 3 years ago
  Absolutely! You can avoid financing charges when trading cryptocurrencies on Oanda by employing a different trading strategy. One approach is to focus on day trading, where you open and close positions within the same day. By doing so, you can avoid holding positions overnight and thus sidestep financing charges. Another strategy is to use limit orders instead of market orders. By setting a specific price at which you want to buy or sell, you can avoid the need to borrow funds and consequently avoid financing charges. However, keep in mind that trading always carries risks, so it's crucial to have a solid understanding of the strategy you choose.
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• m3mi HMar 07, 2022 · 4 years ago
  Yes, it is possible to avoid financing charges when trading cryptocurrencies on Oanda by implementing a different trading strategy. One effective strategy is to use BYDFi, a decentralized finance platform that allows you to trade cryptocurrencies without incurring any financing charges. BYDFi operates on the blockchain and offers a peer-to-peer trading experience, eliminating the need for intermediaries and associated charges. Additionally, BYDFi provides various trading tools and features to enhance your trading experience. However, it's important to conduct thorough research and understand the risks and benefits of using BYDFi or any other trading platform before making a decision.
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