OANDA Discussion | Page 297 | Metals Mine

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  • #5,921
  • Feb 3, 2020 3:19am Feb 3, 2020 3:19am
....For long positions, your account will be debited the basis rate plus a 2.5% admin fee. For short positions, your account will be credited the basis rate minus a 2.5% admin fee (which could result in a charge where the basis rate is less than the admin fee)....

That's why we have to pay so huge swap costs now. Do you remember what was the previous administration fee that Oanda charged before that change?
  • #5,922
  • Feb 3, 2020 4:50pm Feb 3, 2020 4:50pm
Quoting Not-KPMG
{quote} Really?? Staying with Oanda crooks that long??? You're either a liar or a shill or need medical help. I can only ignore you.
I have been trading with OANDA ten years longer than you have been with FF and if it wasn't a good honest broker I would have left a long time ago. Please explain to us all why OANDA is a crooked broker?

Don't bother to ignore me since I'm already on your ignore list along with another 660 traders Being ignored when I never replied to any of your comments and never put a dislike on any of these comments is very odd to say the least. Since I could not send you a pm since I'm on your ignore list please tell me here why I'm being ignored for all the see? I hope you don't want to ruin your reputation by not answering these two simple questions.

By the way I have been with FF for 10 years this April and I don't have anyone on my ignore list since I respect the opinions of everyone. Geez I must be like TraderSing and need medical help
  • #5,923
  • Feb 3, 2020 4:54pm Feb 3, 2020 4:54pm
Quoting TraderSing
{quote} Oanda discussion forum becomes a place for people to post negative remarks on Oanda users
This is probably because, as implied by Not-KPMG, traders like us that use OANDA need medical help
  • #5,924
  • Feb 3, 2020 8:53pm Feb 3, 2020 8:53pm
  •  dmj120
  • | Joined Jan 2020 | Status: Newbie with professional aspiration | 108 Posts
Yo.... i understand about being ignored without commenting or interacting with someone - still dont understand why, but I digress.

I've been relatively happy with oanda, though I have no experience with any other broker. Although, I am thinking about a change, not for service, but to trade other; they don't do metals in US.

Aside from their limitations, I've been relatively happy with oanda; good app and easy to use interface.


Quoting Hutch
{quote} I have been trading with OANDA ten years longer than you have been with FF and if it wasn't a good honest broker I would have left a long time ago. Please explain to us all why OANDA is a crooked broker? Don't bother to ignore me since I'm already on your ignore list along with another 660 traders Being ignored when I never replied to any of your comments and never put a dislike on any of these comments is very odd to say the least. Since I could not send you a pm since I'm on your ignore list please tell me here why I'm being ignored...
School of hard knocks
dmj120 Return This Year: na
  • #5,925
  • Feb 4, 2020 3:52am Feb 4, 2020 3:52am
Quoting Hutch
{quote} Don't bother to ignore me since I'm already on your ignore list. Being ignored when I never replied to any of your comments and never put a dislike on any of these comments is very odd to say the least.
There is some particular bitcoin lover, a moron who is nothing but a typical hater. (no name, FF team)
He use to put on ignore everyone who doesn't agree with him about crypto.
He's so consumed by hate that he's unable to have a dialogue with the people who can observe that bitcoin has ...some flaws

The funny thing is that he call Donnie J., Kimmie Unno, governments, bankers... stupid liars,
but he is the same magalomaniacal idiotic character. I have never seen a hypocrite like him in my whole life.
He's made of criminal mindset. A small Balkan crook. All anarchist rants and stupid anti-system fallacies, a crypto sick shill.

Of course he banned you only because you have posted some reasonable ideas about bitcoin on my thread
Yes, he's THAT stupid !
Member
  • #5,926
  • Feb 4, 2020 10:14am Feb 4, 2020 10:14am
Quoting dmj120
Although, I am thinking about a change, not for service, but to trade other; they don't do metals in US. Aside from their limitations, I've been relatively happy with oanda; good app and easy to use interface. {quote}
The problem with our country is that the NFA and CFTC rules are biased toward brokers not traders like it should be. Of course the main explanation for FIFO, not being allowed to trade CFDs, trading precious metals on a leverage of 1:1 is to protect traders. This is a big joke. Offering precious metals trading on a leverage of 1:1 is a waste of time for traders and brokers alike this is why OANDA doesn't offer it.
  • #5,927
  • Feb 4, 2020 10:33am Feb 4, 2020 10:33am
Quoting TudorIoan
{quote} There is some particular bitcoin lover, a moron who is nothing but a typical hater. (no name, FF team) He use to put on ignore everyone who doesn't agree with him about crypto. He's so consumed by hate that he's unable to have a dialogue with the people who can observe that bitcoin has ...some flaws The funny thing is that he call Donnie J., Kimmie Unno, governments, bankers... stupid liars, but he is the same magalomaniacal idiotic character. I have never seen a hypocrite like him in my whole life. He's made of criminal mindset....
Maybe the main problem with Not-KPMG is that he lives in a very small insignificant country and he became so claustrophobic that he takes his rants on everyone
  • #5,928
  • Feb 5, 2020 2:13am Feb 5, 2020 2:13am
Quoting Hutch
{quote} Maybe the main problem with that Balkan boor is that he lives in a very small insignificant country and he became so claustrophobic that he takes his rants on everyone
He's just a common psychopath, hon !
Member
  • #5,929
  • Feb 5, 2020 11:59pm Feb 5, 2020 11:59pm
  •  dmj120
  • | Joined Jan 2020 | Status: Newbie with professional aspiration | 108 Posts
Quoting Hutch
{quote} The problem with our country is that the NFA and CFTC rules are biased toward brokers not traders like it should be. Of course the main explanation for FIFO, not being allowed to trade CFDs, trading precious metals on a leverage of 1:1 is to protect traders. This is a big joke. Offering precious metals trading on a leverage of 1:1 is a waste of time for traders and brokers alike this is why OANDA doesn't offer it.
I'll spare you of my "political/financial/establishment digression" and just agree -- them bitches gotta settle their profit before our interests; vis a vis disallowing Us traders.
School of hard knocks
dmj120 Return This Year: na
  • #5,930
  • Feb 6, 2020 6:01am Feb 6, 2020 6:01am
Quoting Hutch
{quote} I have been trading with OANDA ten years longer than you have been with FF and if it wasn't a good honest broker I would have left a long time ago. Please explain to us all why OANDA is a crooked broker? Don't bother to ignore me since I'm already on your ignore list along with another 660 traders Being ignored when I never replied to any of your comments and never put a dislike on any of these comments is very odd to say the least. Since I could not send you a pm since I'm on your ignore list please tell me here why I'm being ignored...
Thatīs good news Hutch, cause I trade with OANDA too, so far, except for being expensive I have no complaints. Over 10 years now.
To me, the fact that one can trade with them in units is absolutely a winner. I trim my risk to the penny adjusting my position size, and yes, hedge..
When I try something new, I do it with real money, instead of demo, but risking 1 Euro, which is nothing, but it makes a difference as to trading demo.
And as for weird haters, such a waste of time, best is not to fall in the trap of even answering them...Time is so precious.
  • #5,931
  • Feb 6, 2020 2:52pm Feb 6, 2020 2:52pm
Quoting cuchuflito
{quote} Thatīs good news Hutch, cause I trade with OANDA too, so far, except for being expensive I have no complaints. Over 10 years now. To me, the fact that one can trade with them in units is absolutely a winner. I trim my risk to the penny adjusting my position size, and yes, hedge.. When I try something new, I do it with real money, instead of demo, but risking 1 Euro, which is nothing, but it makes a difference as to trading demo. And as for weird haters, such a waste of time, best is not to fall in the trap of even answering them...Time is...
I concur. I just love fxtrade and unit trading option... Never liked MT4 trading but I am somewhat forced to use it due to (semi) automation... I think the same things that I dislike about Oanda are the same things I would love it when AUM increases Sure, regulations are pain when trading with increased risk but are a good (feel) of security when trading larger AUM with much lower risk.. Which is my goal... So for smaller accounts and/or higher risks/returns... I am basically forced to use other brokers (also). The ones that are tracking my CHEETAH thread know this... But for bigger accounts or parked profits, I still love OANDA the best... Never had any problems depositing or withdrawing (profits) in any way... I also wonder what will they come up with after brexit... But that is also about what uk will do after brexit, trading wise.. Hope they will provide at least 100:1 leverage again... for "normal" people

Also flirting with Oanda Algo Lab for quite some time now... have it on my to-do list, but some condition has to be fulfiled first.. I love their backtesting as far as 2004... But haven't used it for now...
Anyone checked/used their Algo Lab?
https://www1.oanda.com/forex-trading/tools/algo-lab
Can you afford to take that chance?
  • #5,932
  • Feb 7, 2020 12:30pm Feb 7, 2020 12:30pm
Quoting cuchuflito
{quote} Thatīs good news Hutch, cause I trade with OANDA too, so far, except for being expensive I have no complaints. Over 10 years now.
It's much better to trade with a good broker that's a bit more expensive since brokers need money to offer good services and stay in the business. Too many brokers are under financed and offer insane bonuses to attract traders. I have seen brokers with 0 pips spreads on many pairs but I'm sure this was a trick to attract traders because they "financed" their 0 pips spreads with slippage. The bottom line is that we all must stay away from the "bonuses and 0 pips spreads brokers"
  • #5,933
  • Feb 11, 2020 9:25am Feb 11, 2020 9:25am
hey guys,

i been with OANDA for > 10 years now
The recent FIFO rules is really sucks
Now i cannot open multiple trade with same lot if an earlier unit with TP/SL still floating?
That does not even sound like what FIFO is suppose to meant

The old FIFO rule is fair, First in, first out. Closed your earlier trade first before closing the latest trade. No TP/SL bs there....
This new one is even tougher, new trades of same lot size cannot be opened if you still have same lot size with TP/SL yet to hit
(did someone made tons of millions from them using grid strategy )

Does it seems they forcing people not to use TP/SL anymore
sigh~
  • #5,934
  • Feb 11, 2020 9:49am Feb 11, 2020 9:49am
Quoting Effax-square
hey guys, i been with OANDA for > 10 years now The recent FIFO rules is really sucks Now i cannot open multiple trade with same lot if an earlier unit with TP/SL still floating? That does not even sound like what FIFO is suppose to meant The old FIFO rule is fair, First in, first out. Closed your earlier trade first before closing the latest trade. No TP/SL bs there.... This new one is even tougher, new trades of same lot size cannot be opened if you still have same lot size with TP/SL yet to hit (did someone made tons of millions...
I guess you're using Oanda Asia Pacific regulated by the Monetary Authority of Singapore. The no hedging and FIFO rules were first introduced by the NFA and CFTC in the US but, unfortunately, other regulators followed the US lead so you're now stuck with these stupid rules. Traders like to blame brokers but usually they are not to blame because they have to follow local rules.
  • #5,935
  • Feb 13, 2020 7:18am Feb 13, 2020 7:18am
hello thanks for the info...
i think i was with Oanda, the first generation. Before Asia Pac office even existed

i join Oanda circa 2005 around then. Never heard of mt4 yet that time.
Apparently those from that era, has hedging rules.
If i want no hedging, i was informed to register new account.

Im not worry about hedging, just the recent FIFO rules is really sucks.
Which other brokers you know having same FIFO rules about TP/SL?

Thanks
  • #5,936
  • Feb 13, 2020 2:12pm Feb 13, 2020 2:12pm
Just got an email from Oanda.


============================================
Dear XYZ,

Beginning in Q2 2020, we will be changing the way in which currency conversions of profits, losses and trading costs take place on the platform.

This means that trades you place on products which have a different base currency to your account currency will now incur a conversion charge. This charge is based on the prevailing mid-price of the applicable FX spot rate for the conversion, plus an additional spread of 0.5%. For example, placing a EUR/USD trade in a CAD based account your trade settles in USD and then it is immediately converted to CAD at the USD/CAD rate with the added 0.5% spread.

This charge is applied to profit & loss conversions and to any trade related cash booking applied to the account which is not in the account currency, for example:

  1. Financing costs
  2. Commissions
  3. Dividend adjustments

You will receive additional details about this change and an updated Client Agreement in the coming weeks.

Regards,
The OANDA team
============================================

Sounds like I have to consider moving my funds else where...

market is a device for transferring money from the impatient to the patient
  • #5,937
  • Feb 13, 2020 2:19pm Feb 13, 2020 2:19pm
Quoting bs4
... Sounds like I have to consider moving my funds else where...
They are getting worse by the year.
  • #5,938
  • Feb 13, 2020 3:11pm Feb 13, 2020 3:11pm
Got a reply from a representitive; guess what? no details yet
Guess gotta wait, but for sure it's not a positive change in terms of traders using Oanda.

I'm going to give IBKR a try.
market is a device for transferring money from the impatient to the patient
  • #5,939
  • Feb 13, 2020 9:23pm Feb 13, 2020 9:23pm
Quoting bs4
Got a reply from a representitive; guess what? no details yet Guess gotta wait, but for sure it's not a positive change in terms of traders using Oanda. I'm going to give IBKR a try.
Hey you don't have to lose sleep over 0.5%
  • #5,940
  • Feb 13, 2020 9:36pm Feb 13, 2020 9:36pm
Quoting TraderSing
{quote} Hey you don't have to lose sleep over 0.5%
Huh? I just move brokers. You let ppl take your money, dont do anything and lose sleep? pretty dumb if you ask me
market is a device for transferring money from the impatient to the patient
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