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  • #501
  • Nov 21, 2008 8:16am Nov 21, 2008 8:16am
They funded my losses due to their server down back to my account. So they did really a rollback. That's good.
  • #502
  • Nov 24, 2008 12:03am Nov 24, 2008 12:03am
Quoting Xaron
They funded my losses due to their server down back to my account. So they did really a rollback. That's good.
That mean they bullies the one that can't defend itself
  • #503
  • Nov 24, 2008 7:40am Nov 24, 2008 7:40am
I switched from OANDA to ActiveTrades 3 months ago and I'm still happy.
  • #504
  • Nov 25, 2008 11:14am Nov 25, 2008 11:14am
Quoting reen
That mean they bullies the one that can't defend itself
I think what you have said is true. Oanda can slips everyone and trust me, 50% of customers won't even complain since it's not really a huge sum. Another 50% complains and got told straight in the face that it is slippage and it's common during fast market. Out of these 50%, 45% will just keep quiet or doesn't have proof to prove otherwise. Just last week I had a big slippage and I quickly got everything recorded. Oanda's staff was very hesitant in replying me since I have proof, so I bring it over to the forum. They never replied until this week, where they have refunded me the slippage amount.
  • #505
  • Nov 25, 2008 11:40am Nov 25, 2008 11:40am
Nowadays services at Oanda is getting very ridiculous.

Erroneous price feed, platform freezing, limit order not filled, TP/SL not honored etc

Personally I have only experienced the 2nd and 3rd from the list above.
Erroneous price feed and platform freezing really do not make any sense to me. Why on earth does a properly coded platform would give out erroneous price or get freezed? The answer is simple, there is a manipulative price engine sitting between the market data source and the end user platform. When it gets too congested, it fails to deliver the 'right price' which deems suitable for Oanda, then it either gives the wrong price, or does not honor orders, or just simply freezes the platform to prevent more orders from coming in to flood the system. All these are done in the name of fast moving market, technical glitch, or banks giving wrong feed.

Now it makes much more sense now. Don't you think?
And how about the frequent 'maintenance' of the platform?
It has to be done frequently to clear out the mess caused by the imperfections of the manipulative price engine.

Compared to stocks, how frequent do you think stock trading platforms has these kind of problems? Nearly none at all.

I think we as Oanda's customers must group together and do something about the unethical treatments we encountered. And perhaps bring these matters to NFA and CFTC, because these matters really seem to be outright fraud.

PS. Oanda's staff lurking in forums masquerading as customers and then attacking any complaint about Oanda can just go to hell.
  • #506
  • Nov 25, 2008 1:26pm Nov 25, 2008 1:26pm
Quoting redrabbit
Nowadays services at Oanda is getting very ridiculous.

Erroneous price feed, platform freezing, limit order not filled, TP/SL not honored etc

Personally I have only experienced the 2nd and 3rd from the list above.
Erroneous price feed and platform freezing really do not make any sense to me. Why on earth does a properly coded platform would give out erroneous price or get freezed? The answer is simple, there is a manipulative price engine sitting between the market data source and the end user platform. When it gets too congested, it...

1. Group -- good idea

2. CFTC ?? Forget it , why not contact the State representatives?
  • #507
  • Nov 25, 2008 10:14pm Nov 25, 2008 10:14pm
Quoting Jimmy Jones
Same issues happening again tonight, feed updating sporadically and the charts are actually moving two candlesticks instead of one (when it does update anyway).

Technical Support; "Everything is fine on our side. Are you logging in from the website or the desktop login utility?"

Me: "The website login."

Technical Support: "I would suggest downloading the desktop login utility and logging in from there, that is your problem".

Me: Heck, I did not even know how to respond to that so I just closed the chat window.

Me after the chat session,...
you realized that they were probably as they were talking to you....face it they dont care.
{Promotion Removed}
  • #508
  • Nov 25, 2008 11:24pm Nov 25, 2008 11:24pm
Anyone here think that no trailing stop is the stupidest idea on the planet?

They seem to think that they can decide how we trade by saying that it won't give us more profit if we use a trailing stop.

Its funny how they came up with that.. when trailing stops are used for profit maximization...
  • #509
  • Nov 26, 2008 2:44am Nov 26, 2008 2:44am
Quoting Code4Capital
when trailing stops are used for profit maximization...
That's a common misbelief btw.
  • #510
  • Nov 26, 2008 4:28am Nov 26, 2008 4:28am
Quoting Xaron
That's a common misbelief btw.
Well... I have a choice of say it hits 100 pip profit and it takes TP at 50 because of a 50 pip trailing stop or -50 pip loss...

Its a profit maximization when you use Ninja trader at least due to the fact you can loosen the trailing stop as you hit higher profits.
  • #511
  • Nov 27, 2008 3:58am Nov 27, 2008 3:58am
Quoting redrabbit
Nowadays services at Oanda is getting very ridiculous.

Erroneous price feed, platform freezing, limit order not filled, TP/SL not honored etc

Personally I have only experienced the 2nd and 3rd from the list above.
Erroneous price feed and platform freezing really do not make any sense to me. Why on earth does a properly coded platform would give out erroneous price or get freezed? The answer is simple, there is a manipulative price engine sitting between the market data source and the end user platform. When it gets too congested, it...
I agree with you ,we should inform the authority what Oanda have done. You are our leader now .I'm so curious why they did all this thing ,O anda still can operate ??They should be under scam .
  • #512
  • Nov 27, 2008 4:44am Nov 27, 2008 4:44am
Quoting macfan
It may be helpful to keep in mind that Oanda's target client market is the small traders with margin balances of less than $1000.00. They are not set up to handle customer concerns nor are they interested in doing that. Their model is to provide every aspect of forex trading on an automated basis. Beyond that if customers wish to deal with a concerned broker go look at the big boys.

The funny part is they have received a hundred million investment not too long ago and oanda said they were interested in attracting large corporate clients. They...

I like what you have said , I have been telling them they are good to the good trader and bad with the bad trader .they just keep quiet. What you said is the proof that ,whatI said about them is right. Since Oanda is doing all this thing ,can we still trust other brokers ??
  • #513
  • Nov 27, 2008 1:21pm Nov 27, 2008 1:21pm
interesting to read about oanda trading against you. From the Agreement form at oanda:

"THE FOREIGN CURRENCY TRADING YOU ARE ENTERING INTO IS NOT CONDUCTED ON AN EXCHANGE. OANDA IS ACTING AS A COUNTERPARTY IN THESE TRANSACTIONS AND, THEREFORE, ACTS AS THE BUYER WHEN YOU SELL AND THE SELLER WHEN YOU BUY. AS A RESULT, OANDA'S INTERESTS MAY BE IN CONFLICT WITH YOURS. UNLESS OTHERWISE SPECIFIED IN YOUR WRITTEN AGREEMENT OR OTHER WRITTEN DOCUMENTS OANDA ESTABLISHES THE PRICES AT WHICH IT OFFERS TO TRADE WITH YOU. THE PRICES OANDA OFFERS MIGHT NOT BE THE BEST PRICES AVAILABLE.

IF OANDA ELECTS NOT TO COVER ITS OWN TRADING EXPOSURE, THEN YOU SHOULD BE AWARE THAT OANDA MAY MAKE MORE MONEY IF THE MARKET GOES AGAINST YOU. ADDITIONALLY, SINCE OANDA ACTS AS THE BUYER OR SELLER IN THE TRANSACTION, YOU SHOULD CAREFULLY EVALUATE ANY TRADE RECOMMENDATIONS YOU RECEIVE FROM OANDA OR ANY OF ITS SOLICITORS."
  • #514
  • Nov 27, 2008 3:10pm Nov 27, 2008 3:10pm
I have been with Oanda for a couple of years now. I experienced a situation a few days ago where my SL was blown through and then my position closed some 40 pips later. I told them about it. They looked into it and they fixed it and adjusted my account. I have experienced good customer relations with them for all these years.


I have not seen the freezes since I changed to their direct feed, using the FX Trade button feature. I no longer go thru an internet explorer interface. It has been a nice change.

I use metatrader for some charting work. I have found both to have identical pricing within a second or two of each other.

Oanda's flexibility for adjusting lot size is a feature I would not want to give up. This allows me to be in control of my risk and reward. Other companies do not allow you to manage this aspect in such flexible terms.


The statement above about Oanda taking a position opposite mine is no different than any other FX Broker. That is the definition of a market maker.
It is one of the first things learned in " FX 101" .

So it appears that my experience is pretty much the opposite of that told by other traders in recent posts.

I give Oanda
  • #515
  • Nov 27, 2008 4:53pm Nov 27, 2008 4:53pm
Quoting Lou
I have not seen the freezes since I changed to their direct feed, using the FX Trade button feature. I no longer go thru an internet explorer interface. It has been a nice change.
Ok after reading this I decided to dig a little deeper into the Oanda desktop launcher. The customer service rep description gave me the assumption that it was just a quick link sort of app, rather then a direct connection (meaning skipping firefox all together).

I d/l the desktop launcher and will be giving it a go this next week, like Lou mentioned the thing I love best about Oanda is the ability to precisely control risk, rahtar then relying on a lot type of order system... hopefully the desktop launcher works better.
  • #516
  • Nov 27, 2008 5:04pm Nov 27, 2008 5:04pm
Is the way Oanda to steal your money:

Quote
Dear [XXX]:

Due to one or more incorrect rate spikes that occurred on our FXTrade system, the following adjustments were completed to roll back transactions caused by the spikes:

Ticket [1111111111111] (GBP/USD) was deleted.

Please check your account at your earliest convenience. If you have any questions or concerns, please do not hesitate to contact us at [email protected].

Kind Regards,
OANDA Technical Support(RC)

Can they do that? Cancel any transaction?
  • #517
  • Edited 6:09pm Nov 28, 2008 5:46pm | Edited 6:09pm
Order entries may have problems, I was delayed and entered 9 pips to my detriment last week on a trade.

I generally trade baskets so entry can be frustrating , and other than above things seem ok.

When i exit a basket using the "close all trades" feature, i am out within 15 seconds. My guess is the exit is easier for them as they are a market makers and took the opposite side of my trade, their money is already made.

I was in a basket 2 weeks ago and their system crashed, scary for me, but all worked out.

I read in August that they are using a beta version of nesw software.
I opened my account there so that O'lady could practice at low levels , losing 10 cents a pip is easier that 10 dollars a pip.

I do like that I can shape my orders based on percent of account size.
I don't like not being able to trail stops.

The site is confusing but has a lot of research to offer..

The daily interest, or I should say minute by minute interest is to your advantage on positive positions, but extra profit for them on your day trades. They will take the interest but not have a responsibility to their liquidity provider unless it is held past 5 EST.

So an opportunity does wait for the the perfectly hedged position. Using a separate broker.

It came to my attention today that there is a good opportunity to take positive interest payment postilions at another broker on Wednesday afternoon and hedge them at Oanda.

At 5 PM you get credited with 3 days interest on the other broker but only have to pay a few hours interest on oanda.. of course the challenge is getting in and out of the positions without capital loss..

Beyond that. I didn't trade for 18-24 months and my base currency interest was added and compounded regularly..so that's OK too.

From observing their price board side by side with IB I saw no discernable difference in movement. Not a scientific study, but I did it a couple of times early in my association with them and they seemed to move in tandem..

Do NOTE however that their spread generally favors the direction of price action. In other words if the bid/ask on an ECN is 1.2000/1.2003 and Oanda's stated spread is 5 pips and the price is moving up the oanda a bid/ask will be 1.2000/1.2005 NOT 1.1999/1.2004 . . . impulse buyers will make extra money for them. This may be standard on all fixed spread brokers, but I have observed it on oanda..

as with all situations . . .
it is what it is, neither good nor bad , avoid the pitfalls and use the inefficiencies.

If a newbie asked me where to start, I would recommend them for .. .
the ease of platform use
the ability to choose your own contract size


OH AND STAY AWAY FROM THE BOX OPTIONS THERE. the vig on keno is better at the casino.

also if you use standard stop philosophies, like set my stop at the high of the last bar,
expect to get taken out.

Hope this helps
  • #518
  • Nov 29, 2008 2:52am Nov 29, 2008 2:52am
Quoting Tig3r
Is the way Oanda to steal your money:
Not true. A wrong spike was reverted. Would you complain if this trade had been reverted if you had stopped out there?
  • #519
  • Nov 29, 2008 5:51pm Nov 29, 2008 5:51pm
I have a friend who trades $50 per pip with oanda, trades 5 min timeframe, he regularly makes a lot of money with them, strange how some people have problems, and others don't.
  • #520
  • Nov 29, 2008 6:48pm Nov 29, 2008 6:48pm
the problem is that nobody wants to admit that they are a crumby trader. the broker is the market maker and you know this when you sign up to trade with them. you have to play by their rules... once you realize that its much easier to "play the game"
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