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  • #6,241
  • Jul 16, 2020 3:24am Jul 16, 2020 3:24am
Quoting Mohfabregas
{quote} hi I am not a new trader I have been doing so for a while. Show you the trades? Oanda has made my account inactive. I posted the max amount of pics. its ridiculous how they are now saying they don’t need to provide any proof and at the same time they are saying that they are aware it wasn’t me but irrespective they cannot be held liable. My only issue is this type of activity was designed to wipe my whole account out. Nobody apart from the broker can gain from my account being wiped. Also I trade max 300 lots but on Thursday they increased...
wow, seems you are using IOS, I do not think it would be hacked, can you ask oanda for the trading logs from the server?

and, are you trading with Oanda AU or?
Forex, my love!
  • #6,242
  • Jul 16, 2020 7:57am Jul 16, 2020 7:57am
Quoting TaoJin88
{quote} wow, seems you are using IOS, I do not think it would be hacked, can you ask oanda for the trading logs from the server? and, are you trading with Oanda AU or?
hi yes correct I am using my iPhone 10 on mt4.
they have made my account inactive and moreover they gave me a practice account with a live feed because they said it would take 3 days to open a normal account. After asking what can be done they proposed a practice account linked with a live feed. Real funds was deposited from my card to oanda and credited to that account. They do not wish to provide any thing as they are saying that they are not legally obliged to unless approached by any authority.

i have now come to a standstill on what to do. My MT4 has not recorded any transactions or orders placed for the time I logged off and the strange trades to wipe my account took place. I was trading with oanda in Singapore.
  • #6,243
  • Jul 16, 2020 8:05am Jul 16, 2020 8:05am
Quoting Mohfabregas
{quote} hi I am not a new trader I have been doing so for a while. Show you the trades? Oanda has made my account inactive. I posted the max amount of pics. its ridiculous how they are now saying they don’t need to provide any proof and at the same time they are saying that they are aware it wasn’t me but irrespective they cannot be held liable. My only issue is this type of activity was designed to wipe my whole account out. Nobody apart from the broker can gain from my account being wiped. Also I trade max 300 lots but on Thursday they increased...
I'm sorry for your losses but OANDA has nothing to gain except spreads on these trades and this is minimal. OANDA gains a lot from full time traders like me that have been trading with OANDA for 15 years. A hacker has nothing to gain either except an increase in his reputations with his hacker friends. Have you considered that the attack was not random but targeted you for some reason? This is what would make the most sense.
  • #6,244
  • Jul 16, 2020 8:50am Jul 16, 2020 8:50am
Quoting Hutch
{quote} I'm sorry for your losses but OANDA has nothing to gain except spreads on these trades and this is minimal. OANDA gains a lot from full time traders like me that have been trading with OANDA for 15 years. A hacker has nothing to gain either except an increase in his reputations with his hacker friends. Have you considered that the attack was not random but targeted you for some reason? This is what would make the most sense.
When you deposit cash in Oanda, and if you lose all your money, when does the money go? Oanda.
  • #6,245
  • Jul 16, 2020 9:28am Jul 16, 2020 9:28am
Quoting nathaniel
{quote} When you deposit cash in Oanda, and if you lose all your money, when does the money go? Oanda.
You could also ask: "When you deposit cash in Oanda, and if you win all your trades, where does the money go?". In that case, based upon your argument, the answer is in your account. However, both arguments are faulty since there are always winning and losing traders on all trades taken. As a market maker Oanda has the obligation to balance it's book by taking the other side of trades if there are not enough traders to balance the value of trades on the opposite side. Sometimes Oanda wins sometimes Oanda loses. In any case, like all brokers, Oanda makes most of its money with spreads.
  • #6,246
  • Jul 16, 2020 9:32am Jul 16, 2020 9:32am
Quoting Hutch
{quote} You could also ask: "When you deposit cash in Oanda, and if you win all your trades, where does the money go?". In that case, based upon your argument, the answer is in your account. However, both arguments are faulty since there are always winning and losing traders on all trades taken. As a market maker Oanda has the obligation to balance it's book by taking the other side of trades if there are not enough traders to balance the value of trades on the opposite side. Sometimes Oanda wins sometimes Oanda loses. In any case, like all brokers,...
Definitely agree that Oanda, like all marketmakers, have to balance their books and hedge their risk against market conditions and clients' trades.

I don't think Oanda is a shady broker at all, and doubt they would do something like that. But all I'm saying is if clients lose money in their marketmaker account, the counterparty is the marketmake, and not other traders.
  • #6,247
  • Jul 16, 2020 9:39am Jul 16, 2020 9:39am
Quoting Hutch
{quote} I'm sorry for your losses but OANDA has nothing to gain except spreads on these trades and this is minimal. OANDA gains a lot from full time traders like me that have been trading with OANDA for 15 years. A hacker has nothing to gain either except an increase in his reputations with his hacker friends. Have you considered that the attack was not random but targeted you for some reason? This is what would make the most sense.
the thing is that no hacker can enter my account without finding there way into Oanda network. Oanda claim that this activity took place on another server and not there’s. How is it possible that they cannot provide me proof of what has happened. How can they not investigate the matter like professionals instead of saying they are not held liable. Wiping my account in the manner it took place was not normal. Nobody stood to gain from this apart from the brokerage as now they don’t pay out my balance. I am not here to say oanda is a bad company etc etc I’m trying to say the fact they cannot provide me proof, how am I certain that they didn’t link someone’s account to mine by mistake and how am I certain they didn’t have a security and data breach in which my account was compromised.

the trade orders effectuated in inhumane manner should of still been recorded in my journal had it really been activity from my account. Since this has not happened oanda must provide proof that the trades that took place was ligitimate.


at this point I am very suspicious as to what is going on and they keep sending me there rules and regulations. I want to know how to proceed.

mt oanda account and balance must be protected from such activities from oanda as they are my brokers. If it’s there fault they don’t want to own up to what may of happened. I’m asking for my right which is proof. I need direction on how to move forward with this as oanda have inactivated my account and are Avoiding any communication
  • #6,248
  • Jul 16, 2020 9:53am Jul 16, 2020 9:53am
Quoting nathaniel
{quote} Definitely agree that Oanda, like all marketmakers, have to balance their books and hedge their risk against market conditions and clients' trades. I don't think Oanda is a shady broker at all, and doubt they would do something like that. But all I'm saying is if clients lose money in their marketmaker account, the counterparty is the marketmake, and not other traders.
What you are trying to say is that Oanda benefits from this "red flag" bot trading, so why should they care if there are red flags all around that account.

As obligatory party to facilitate trades on their platforms, they should care and at least try to notify account holder.
  • #6,249
  • Jul 16, 2020 10:50am Jul 16, 2020 10:50am
Quoting Mohfabregas
{quote} the thing is that no hacker can enter my account without finding there way into Oanda network. Oanda claim that this activity took place on another server and not there’s. How is it possible that they cannot provide me proof of what has happened. How can they not investigate the matter like professionals instead of saying they are not held liable. Wiping my account in the manner it took place was not normal. Nobody stood to gain from this apart from the brokerage as now they don’t pay out my balance. I am not here to say oanda is a bad company...
The only two things you can do is (1) Go to your country's regulators and report the case immediately (assuming that Oanda is regulated in your country and you had opened it with the local office) and/or (2) Get a lawyer
  • #6,250
  • Jul 16, 2020 12:39pm Jul 16, 2020 12:39pm
Quoting nathaniel
{quote} The only two things you can do is (1) Go to your country's regulators and report the case immediately (assuming that Oanda is regulated in your country and you had opened it with the local office) and/or (2) Get a lawyer
+1
  • #6,251
  • Jul 16, 2020 1:54pm Jul 16, 2020 1:54pm
Quoting Mohfabregas
{quote} the thing is that no hacker can enter my account without finding there way into Oanda network. Oanda claim that this activity took place on another server and not there’s.
I agree with you that, as you explained, the hacker had to use the Oanda network in order to execute the trades. Oanda claiming that these activities took place on another server and not on their server is total BS since only Oanda servers can execute trades. Please contact the Oanda regulator for the country your account is in as seen in the table at post #6,235.
  • #6,252
  • Jul 16, 2020 3:47pm Jul 16, 2020 3:47pm
Quoting Mohfabregas
{quote} the thing is that no hacker can enter my account without finding there way into Oanda network. Oanda claim that this activity took place on another server and not there’s. How is it possible that they cannot provide me proof of what has happened. How can they not investigate the matter like professionals instead of saying they are not held liable. Wiping my account in the manner it took place was not normal. Nobody stood to gain from this apart from the brokerage as now they don’t pay out my balance. I am not here to say oanda is a bad company...
Can you show an image of your account with your starting Account Balance from 7/14- 7/16 and that this account belonged to Oanda.
  • #6,253
  • Jul 16, 2020 4:22pm Jul 16, 2020 4:22pm
Quoting driven18
{quote} Can you show an image of your account with your starting Account Balance from 7/14- 7/16 and that this account belonged to Oanda.
Forex Factory is a trading site not a private investigators site. First you asked Mohfabregas to show his Oanda trading log stating "Wow. I am thinking that it is a scam - new member and 2 posts." basically stating that this is a scam. Now you want him to show images of his account. This type of statements are totally unacceptable and even despicable. I have seen traders that show no trust at all for others but, unfortunately, I must admit that you take the cake.
  • #6,254
  • Jul 16, 2020 4:29pm Jul 16, 2020 4:29pm
Quoting nathaniel
{quote} Definitely agree that Oanda, like all marketmakers, have to balance their books and hedge their risk against market conditions and clients' trades. I don't think Oanda is a shady broker at all, and doubt they would do something like that. But all I'm saying is if clients lose money in their marketmaker account, the counterparty is the marketmake, and not other traders.
You are absolutely correct. The only trades they process through STP are clients that have proven to be consistent winners. Everything else, they are booking themselves.
To that point, if you are a winning trader it shouldn't matter to you. I personally despise the market maker model, but that's me.
  • #6,255
  • Edited 11:04pm Jul 16, 2020 5:47pm | Edited 11:04pm
Quoting Hutch
{quote} Forex Factory is a trading site not a private investigators site. First you asked Mohfabregas to show his Oanda trading log stating "Wow. I am thinking that it is a scam - new member and 2 posts." basically stating that this is a scam. Now you want him to show images of his account. This type of statements are totally unacceptable and even despicable. I have seen traders that show no trust at all for others but, unfortunately, I must admit that you take the...
No Hutch, unlike you, who belittled the guy for trading from his cell phone and put out your reputation of never trading from phone(who cares?)

I want to help but first i would like to make sure that account was with Oanda, as Oanda denies that trades are being on their servers and his funds that he already showed us(no mystery here), leaving his Oanda Account between 7/14 - 7/16 and none other account.
  • #6,256
  • Jul 16, 2020 8:37pm Jul 16, 2020 8:37pm
Quoting Mohfabregas
{quote} the thing is that no hacker can enter my account without finding there way into Oanda network. Oanda claim that this activity took place on another server and not there’s. How is it possible that they cannot provide me proof of what has happened. How can they not investigate the matter like professionals instead of saying they are not held liable. Wiping my account in the manner it took place was not normal. Nobody stood to gain from this apart from the brokerage as now they don’t pay out my balance. I am not here to say oanda is a bad company...
What do they mean by " Not their Server"? Here in China, there are a lot of fake Onadas, they are cheating money from Forex newbies.

I do not think you are using a FAKE Oanda, but why did they say it was not on their server? It is really strange.

and, if you are sure, that you are using a real Onada SG, I suggest you submit a complaint to SG regulators.

Good luck!
Forex, my love!
  • #6,257
  • Jul 17, 2020 4:14am Jul 17, 2020 4:14am
Quoting driven18
{quote} Can you show an image of your account with your starting Account Balance from 7/14- 7/16 and that this account belonged to Oanda.

my account has been inactive since 15 and I have already provided screen shots of all the transactions that took place on the 14th. You asking to prove it’s Ownda? I’m not comfortable sending a shot of my account number etc.

i don’t need to prove to you it’s Oanda I’m telling you it is. I have no benefit right now typing all this sad news to you all ...
  • #6,258
  • Jul 17, 2020 3:34pm Jul 17, 2020 3:34pm
Quoting driven18
{quote} No Hutch, unlike you, who belittled the guy for trading from his cell phone and put out your reputation of never trading from phone(who cares?) I want to help but first i would like to make sure that account was with Oanda, as Oanda denies that trades are being on their servers and his funds that he already showed us(no mystery here), leaving his Oanda Account between 7/14 - 7/16 and none other account.
I never belittled Mohfabregas or anybody else for trading using a mobile phone but he needed to know that mobile phones are less secured than PCs. I have been trading with Oanda for 15 years and I can't help him. As a matter of fact we can only offer advice and the only help he can get is to contact the Oanda regulator directly.
  • #6,259
  • Jul 17, 2020 6:58pm Jul 17, 2020 6:58pm
Quoting Hutch
{quote} I never belittled Mohfabregas or anybody else for trading using a mobile phone but he needed to know that mobile phones are less secured than PCs. I have been trading with Oanda for 15 years and I can't help him. As a matter of fact we can only offer advice and the only help he can get is to contact the Oanda regulator directly.

hi I have been trading with my phone for years. I have never faced any issue like I have faced with oanda with the situation I have told you. I am now trying to get in touch with a lawyer based on Singapore to understand more on how to proceed. Apparently my account was opened in Australia as per the email but all oanda communication takes place in Singapore. I am so confused up to this point.

Oanda offered me bonus on my deposits and also rebates. Has anyone ever been offered this? I really don’t get how to approach the regulators as it’s more complicated then picking up the phone and calling.

any help will be appreciated.

oanda are a waste of time to talk to. I have been told by multiple people that if trades took place out of your control then the oanda server was compromised not the MT4 platform or my mobile phone etc as I assume you are saying. (I may be wrong).

at this point things don’t add up and I will take this to court. Is there anyone who can help me get in touch with a newspaper publisher as I need to get this issue out there.
  • #6,260
  • Jul 18, 2020 8:34am Jul 18, 2020 8:34am
Quoting Mohfabregas
{quote} hi I have been trading with my phone for years. I have never faced any issue like I have faced with oanda with the situation I have told you. I am now trying to get in touch with a lawyer based on Singapore to understand more on how to proceed. Apparently my account was opened in Australia as per the email but all oanda communication takes place in Singapore. I am so confused up to this point. Oanda offered me bonus on my deposits and also rebates. Has anyone ever been offered this? I really don’t get how to approach the regulators as it’s...

I was confused too, so, your account was with Oanda AU? Mine was with Oanda AU too, and, my account manager was based in SG too, the Chinese team was dissolved.

I never get any deposit bonus from Oanda, but I do get rebates from an IB( piprebates.com), As I know, Oanda won't send you any rebates at all.

So, I cannot understand well with your situations, but I think it would be better to make these 2 points clear :
1. Account belong to Oanda AU or SG, which will determine the regulator you should get help with;
2. Who send you the bonus and the rebates? Directly to your Oanda Account? or other payment systems?

Forex Sites I know: Finanace Magnates, ForexPeaceArmy, Good luck!
Forex, my love!
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