I know what my remedy is. Just withdrawn my total account balance from them. Last straw that was.
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Out of curiosity, what were the previous straws? I have never had ANY problem like this with oanda before and I guarantee you after this debacle, they are going to take every step imaginable to keep this from happening again. The one time I had to deal with customer service over a weird quote, they refunded my money in minutes. I'd certainly like to believe that the broker has integrity because if not them, then who?
I've been with Oanda for about 6 yrs now and I always thought of them as the best.However in the last couple of years things have begun to change.
The worst of these changes is,of course, the so-called dynamic spreads which can expand, on the exotic pairs such as GBP/NZD to over 120 pips and not just on news, also for 30 mins at the end of US.
This makes it difficult to place responsible stops.
Although the platform looks nice, and I like it a lot, it does freeze frequently as does the mobile app.
The withdrawal charges are abominal.I thought they were normal before. I pay 20€ to withdraw the first amount each month, but for the second, it is 35€
This is not a normal charge. I have recently joined Dukascopy who charge 7.50€ per withdrawal.
I have also seen strange spikes on their charts that do not appear on others charts, however ,this may be down to their dynamic spreads.
So,as I say, todays debacle was the last straw.
When an outage like that happens for so long, you wonder whether they have gone under.I had a lot of money deposited with them and did worry a tad for a while.I won't deposit all of it with Dukascopy, but leave it in the bank and use their leverage,topping up if necessary.
Bit of a wake up call today to be honest!
Where price is now, it has been before, and will be again.
{quote} Out of curiosity, what were the previous straws? I have never had ANY problem like this with oanda before and I guarantee you after this debacle, they are going to take every step imaginable to keep this from happening again. The one time I had to deal with customer service over a weird quote, they refunded my money in minutes. I'd certainly like to believe that the broker has integrity because if not them, then who?
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Second that. Oanda isn't obviously isn't perfect and the spread range can be quite killer for exotic pairs, but if I didn't have Oanda, I don't know who I'd trade with instead.
I've been with Oanda for about 6 yrs now and I always thought of them as the best.However in the last couple of years things have begun to change. The worst of these changes is,of course, the so-called dynamic spreads which can expand, on the exotic pairs such as GBP/NZD to over 120 pips and not just on news, also for 30 mins at the end of US. This makes it difficult to place responsible stops. Although the platform looks nice, and I like it a lot, it does freeze frequently as does the mobile app. The withdrawal charges are abominal.I thought they...
I agree with JenX. Especially when you're a loyal customer since years, haven't made any withdrawal, even the first 20e charge is very difficult to accept. They should allow a free withdrawal after a while. For me, it's more psychological than anything else, but I never withdrew, and just because of this 20e, when I will make a withdrawal, it will be for the whole amount, so that I only pay this charge once.
Oanda is pretty nice, but I feel, like many it seems, that it's not as good as it used to be. Even on EUR/USD the spread was far better in the past. On top of that, a little 0.1 or 0.2 pips grabbed as some sudden slippage when you open/close a market order was something they didn't do in the past. And they had some additionnal features, like trading during week end, or FxMoneyTransfer to wire funds in many currencies (gone because of regulators they said, which must be true) which just disapeared with time ;(
... On top of that, a little 0.1 or 0.2 pips grabbed as some sudden slippage when you open/close a market order was something they didn't do in the past.
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I mostly work with pending orders (fxtrade) and have exprienced slippage in my favor and against, like you say 0.1 or 0.2, more in news time of course.
{quote} I mostly work with pending orders (fxtrade) and have exprienced slippage in my favor and against, like you say 0.1 or 0.2, more in news time of course.
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That's right, I would say that I get more often 0.1 pip positive slippage on pending orders. I rarely get negative slippage that way. But sometimes, the price may stay above/under a little bit longer until Oanda is sure they want to hit that pending order when it's big, if you compare to another feed. Anyway, that's a market maker's job after all...
But what I was pointing out is when sometimes, you want to open/close a big position, the price isn't moving at all, you hit the button (at market), and you get, just at that moment a little move in the direction AGAINST you before you get filled (usually, a mini-spike of 0.1 or 0.2 pip, and price comes back just after). This wasn't happening in the past with Oanda, and at one point (around when forex volatility lowered in 2012 ?) I started to notice it. It's quite never happening in YOUR direction. But you can very easily avoid it by placing your order as pending at the actual price as there is no limitation on where you can place a limit order. It just take a little more time when you want to be quick (a few clicks more) and you're unable to do it when you want to close partially a position (would be possible by hedging, but as this is not supported by Oanda, even in UK...).
Solution if it's annoying you is to program a little EA to do it. That's what I should have done, but didn't.
The good point is that not so long ago, you were unable to close partially a position with Oanda, which is now possible.
(PS: All I am saying is with MT4, don't know with FxTrade as I never used it)
Just joined the forum to ask the same thing. I even changed the password, and I can log perfectly in the practice accounts but nothing on the Trade accounts. It just says it's the wrong User/Pwd combo
I've been with Oanda for about 6 yrs now and I always thought of them as the best.However in the last couple of years things have begun to change. The worst of these changes is,of course, the so-called dynamic spreads which can expand, on the exotic pairs such as GBP/NZD to over 120 pips and not just on news, also for 30 mins at the end of US. This makes it difficult to place responsible stops. Although the platform looks nice, and I like it a lot, it does freeze frequently as does the mobile app. The withdrawal charges are abominal.I thought they...
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I agree 100% with you, i am with oanda from 2008.
oanda are dead, it's same IBM computer (now buy by chinese LENOVO), same nokia, they are dead.
all the good are gone: spread 0,9, can make order or close order on saturday and sunday, maximum spread was 10, now i see audusd 20 or 25., the memory to use is increase, dynamic spread ...
Down again??? Last time they even said they blocked my account due to several tries with wrong password, then worked for 2 days and now again same thing.
I've only tried with a demo account but i thought it's time to go live.. but now that i've read some split opinions, i'm not very sure if i should go live with them... My question is are there many differences between their demo and live platform?
