OANDA Discussion

Yeah, right after milking the spike we are after the "after spike".

currently oanda is offline tuesday 9:00pm ET

anyone in same situation?

Hey guys, I am trying to access my oanda account but i cant, and when i call their customer servic enumber it says its a non working number!!!! anybody else having the same problem?

no problem here

Can someone please tell me how many days per year is oanda down...is it 7, 14, 30, or 2 month?...before i transfer money i would like to know that from someone who is at least 1 year using OANDA????

many thanks
de123

I have been wiht oanda for more than a year and this is the first time something like this happened. it was only for 2-3 minutes, i oculdnt access their platform not could i call them. I got scared for a minute, but everything was normal in a couple of minutes. I think overall they are very reliable, very good spreads, very low slippage, great consistent customer service. the negatives are: limited functionality platform, lower rollover than fxcm and otehrs. i guess tehir limited functionality is a positive too, because you can access it anywhere. whereas fxcm and others have to be traded by downloading their software.

If your having a broker off line problem, contact that broker immediately... posting on this forum will not solve the situation.... your borker can though.

I'm a foreign students living in the netherlands is it good for me to use this?

Oanda has worked ok for me.....

Never had a problem with them

I've been using them for about 3 weeks and they're fairly solid.

There was one time, on a Sunday night when the servers went down and nobody could do anything....even close their positions.

It was back up in an hour or so.

As far as "stop hunting", I don't believe they mess with that...there have been other brokers I've been with where that happens though.

The platform is nowhere near as good as MT4 or VT, but it's ok...not terrible.

Been using them for about 2 months and really like them. occasional disconnects but hey your gonna get that anywhere.
There platform is simple, easy to use and works a dream on PC and MAC.
Great for those with less experiance as the platform is not so complex that it gets between you and your trading (as a newbie)
Best thing is having no minimum which means as somone with a limited amount of risk capitol i can trade properly without having to risk large amounts on each trade.

I have tried Oanda Demo. The platform is ok to me.

But when I trade EUR/USD and take profit say at 1.4602, it turns out to be 1 pip worse. Is it possible for Oanda to do some trick over the executed prices (I guess we have no say on that as it is noted that it is the best price in their server and we just can't see it). If that is the case, the spread could be more than 0.9 pip, say 1.9pip.

To me, 0.9pip is too tight to be true, as EUR/USD is rather trending and stable. While most people tend to buy EUR at the moment, I am doubtful if Oanda can make a hedge effectively for 0.9pip if so many people is buying EUR in a fast market. If they can't manage to do that, and if they are honest enough, they are losing money out from their pocket.

If someone is scalping with $100-$200/pip and manages to take 3-4pips many times daily, I am a bit doubtful if Oanda would do something to this type of clients.

I guess and it's quite reasonable for a MM not to do anything to clients trading mini or small accounts, or someone who are losing money consistently no matter what styles they are trading. But when clients keep making good deal of money with big lots, will they allow them to take away from their pocket day by day and month by month?

Interbank is often 0.5pip these days on EUR/USD. Oanda doesn't have to hedge all client orders in-house. They can offset in the interbank and profit the differential. Even if they did take the opposite of all client orders, they'd profit tremendously, as Oanda clients have been net short EUR/USD during its entire bull run.

I also think the 0.9pip spread on EUR/USD is somewhat of a "teaser rate", as none of their other spreads are nearly as generous (relative to ECN spreads, though 1.8 on USD/JPY isn't bad).

Regarding fast markets and scalpers, search the threads here, I recall hearing a rumor Oanda that warns those types of traders (those preying upon Oanda's slower reaction to an interbank move, though I'd question whether that is still accurate today).

Now I usually trade on ECN and the spread for EURUSD is normally 1 pip for peak sessions, but can be 2-3 pips during quiet session, e.g. Asian and late NY sessions. Plus the commission, on average I need to pay 2-3 pips or even more for EURUSD. That's why I think 0.9pip a very good deal.

Yes. I have read on FF and the rumor was that someone was warned by calling from Oanda one must hold positions for at least 5 mins, and then the account was closed by Oanda.... as far as I can recall.

It probably varies from ECN to ECN, but I completely agree, 0.9pip spread for a "no-commission" trade simply cannot be beat.

0.9 is a great spread on the EUR. The thing with Oanda that you will find, is often times your entry or exit, will be 1 pip in your favor. That happens just as much as getting 1 pip worse.

I don't believe Oanda is playing any "tricks" on people. It's just as others have said, it's the price you hit on the servers. I think those stories you heard are false. Oanda has a lot of clients and if they were closing accounts because people were making money a certain way, we'd be hearing about way more than from just 1 person.

You simply can't beat Oanda if you're an active trader trading the Eur.

the spread in eur/usd at oanda it's just the number, in reality is a fata morgana

real forex market prices are not oanda's prices

here's what oanda does

if trend is up oanda will have both bid and ask upmarked

conversely,

if trend is down oanda will have both bid and ask downmarked

it's just so simple for them to drive the mass of traders around.

so then, you are inclined to arrive at a logical conclusion : since spread is 0.9 pips, in an uptrend you can ''fool'' the market maker by selling, since the spread is thin and the bid- ask are both up.

then, may i ask you a question : can you sell in uptrend ? most of the time i will buy in uptrend, because the trend is my friend, you know

tht's the catch about the " so small spread''

just my 2 cents

p.s. i dealt some time in sport betting and there, the bookies ( equivalets of brokers here) were puttting smaller prices on big favourites than they normally should. when i saw that in oanda, i immediately remembered the damn bookies. it's a simple strategy at their disposal

replied also here

http://www.forexfactory.com/showthread.php?t=47596