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Zorro S for Oanda US #480433
06/06/20 15:24
06/06/20 15:24
Joined: Mar 2020
Posts: 23
Coppell, TX
S
SteveG Offline OP
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SteveG  Offline OP
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Joined: Mar 2020
Posts: 23
Coppell, TX
This has probably already been posted but I haven’t found it.

I just opened an Oanda account because it seems to be the best option for reliable tradeable data for US customers. I set up both a live & demo account, got the API keys and everything connected right up. Unlike my experience trying to connect my Forex.com MT4 interface.

My question is why can a US investor who meets all the same requirements of funding & trading an Oanda account, not be able to obtain the Zorro S version?

There doesn’t seem to be any incentive programs for US investors other than producing some plugin, etc for Zorro. I am not a programmer so I won’t be able to contribute in this regard.

Is there a bias against US investors or are there some sort of legal requirements?

Thanks

Re: Zorro S for Oanda US [Re: SteveG] #480434
06/06/20 16:39
06/06/20 16:39
Joined: Feb 2017
Posts: 1,020
Chicago
AndrewAMD Online
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AndrewAMD  Online
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Joined: Feb 2017
Posts: 1,020
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It's either a contractual thing or a legal thing. Note that there are multiple countries with this restriction:
Quote
Oanda - Leading Forex / CFD broker* with direct Zorro connection, free historical price data, and no minimum lot size. Click the link to open an account (not for US, Canada, Australia, France, Belgium, Netherlands, Poland, Hong Kong, Singapore, and Japan residents). After the first trade, contact support@opgroup.de for your free Zorro S subscription.
I suspect a lot of countries' politicians want to protect their citizens from predatory free candy, like professional trading software. wink

Re: Zorro S for Oanda US [Re: AndrewAMD] #480435
06/06/20 17:49
06/06/20 17:49
Joined: Mar 2020
Posts: 23
Coppell, TX
S
SteveG Offline OP
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SteveG  Offline OP
Newbie
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Joined: Mar 2020
Posts: 23
Coppell, TX
Originally Posted by AndrewAMD
It's either a contractual thing or a legal thing. Note that there are multiple countries with this restriction:
Quote
Oanda - Leading Forex / CFD broker* with direct Zorro connection, free historical price data, and no minimum lot size. Click the link to open an account (not for US, Canada, Australia, France, Belgium, Netherlands, Poland, Hong Kong, Singapore, and Japan residents). After the first trade, contact support@opgroup.de for your free Zorro S subscription.
I suspect a lot of countries' politicians want to protect their citizens from predatory free candy, like professional trading software. wink


Thanks Andrew

I wasn't singling out the US since I see there are other countries excluded as well. Maybe if i knew this was Oanda's decision to limit the countries, then I could ask them if they could make an exception. It seems like it may be an underwriting situation where Oanda subsidizes part of the cost. Oanda does work with lot of other trading platforms and many of those can be used free of charge for Oanda's customers as well. It would be nice to see Zorro added to the list.

I really don't mind paying for the S version as I would any valuable software. However, it will take me time to get up to speed both in terms of Zorro and a viable strategy, and there are things in the features list that I feel would be ultimately helpful in a finalized strategy that I will never be able to test using the free version. Maybe the free version (except for the monetary limitations) is all anyone would need to create a great system, but without trying it out on the S version, I would never know. For example, trading forex is quite a bit broker dependent, meaning that if you develop a viable strategy for one broker, it doesn't necessarily mean it will work the same on another brokers platform. Things like stop hunting come to mind, as well as differences in costs such as slippage, etc. These costs are broker dependent regardless of the instrument being traded, so that in and of itself isn't a reason to use the S version or not, but how the broker handles things like stop hunting are different between brokers. I have experienced this first hand with Forex.com vs IB. For example, as a US investor, I can build a strategy for forex using all Oanda data and their simulation data is supposed to be exactly the same as their live data. But trying the same strategy with IB would require the S version, and therefore I would have to pay for the S version just to try it out with IB data, maybe only to find out it doesn't work after all.

I know OP systems has to cover their overhead and there are no free lunches, but in the introductory information it is clearly stated that Zorro itself is not a profit center per se and their ultimate goal is to empower users (i.e. individual traders like myself) to "Take Money from the Rich and Give it to the Poor" ... I am definitely not rich!

I know this is all waxing philosophically, but I wish there was something in between where individual traders could be exposed to the features of the S version, develop their strategies with the full compliment of what Zorro has to offer, and work toward becoming something more than just a free version user without the $7k/$30k limitation. Maybe an S version which doesn't allow you to trade "live" and make any money with it, until you actually go live, yet you can learn, test and build a strategy with all it has to offer.

I digress ... LOL

P.S. I am enjoying reading the Black Book

Re: Zorro S for Oanda US [Re: SteveG] #480439
06/06/20 18:52
06/06/20 18:52
Joined: Mar 2019
Posts: 182
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danatrader Offline
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danatrader  Offline
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Joined: Mar 2019
Posts: 182
I suggest you, buy the S monthly, then you receive a discount code for Robowealth.
There you take the course, and from them you receive a discount code for Zorro.

That code use for buying the highest valued S license and cancel the Monthly.

But to be complete, I just checked, the Algo bootcamp discount code wasn't included in all of them, so I don't know if it was a one time thing, also it wasn't included in my first monthly subscription.

Last edited by danatrader; 06/06/20 18:57.
Re: Zorro S for Oanda US [Re: SteveG] #480443
06/06/20 21:37
06/06/20 21:37
Joined: Mar 2020
Posts: 23
Coppell, TX
S
SteveG Offline OP
Newbie
SteveG  Offline OP
Newbie
S

Joined: Mar 2020
Posts: 23
Coppell, TX
I thought I would do as much as I can to get the basics going with the free version until I hit a wall and then buy the monthly S version

I like your suggestion about tying it in with Robotwealth. Based on their email to me a few days ago, I think the next bootcamp is supposed to start on Monday. So it might be a good idea for me to go ahead and pull the trigger today for the monthly. Hopefully that will provide me with a discount for the bootcamp.

I am enjoying the journey here, the more I read and can see how I can do what I might have done in MT4, but maybe better with Zorro.

Thanks


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