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OANDA Discussion

  • #1,101
  • Oct 20, 2010 6:15am Oct 20, 2010 6:15am
Quoting Musanto
Oanda put me on and off more than 10x in the last 5 hours
Sometimes I need to start over fxtrade, because the chart blank.
like this one

Any body knows when it'll get better ?
Yesterday they said they are working hard to solve the connection problems. I hope it won't take them forever.
  • #1,102
  • Oct 20, 2010 6:18am Oct 20, 2010 6:18am
oanda ran without a disconnect through the wohle night... thats promising... I mean this is like 10 hours without reconnect ...

(I can see my FXTrade hasnt reconnected, because then the market order boxes would have disappeared)
this pig cannot be slaughtered for ever... or can it?
  • #1,103
  • Oct 20, 2010 9:11am Oct 20, 2010 9:11am
okay I have had no more disconnects for 24 hours which is amazing... lol,

BUT sometimes the price lags behind on one of the accounts (never both)... So I would be forced to reconnect myself anyway....
this pig cannot be slaughtered for ever... or can it?
  • #1,104
  • Oct 20, 2010 11:49am Oct 20, 2010 11:49am
Just wanted to say publicly that Oanda has just refunded the loss that occurred during Friday’s NY session with all the problems. I have to say honestly that this is the first time in the 4 years that I have been trading with them that I ran into problems. I will continue to trade with them.
  • #1,105
  • Oct 20, 2010 1:06pm Oct 20, 2010 1:06pm
I know of no other bröker other than Oanda that provides the following trading conditions all at the same time:

- No minimum deposit required
- Ability to trade in number units, not in fixed lot sizes (more flexibility)
- Ability to open as many separate sub-accounts as you need (even more flexibility)
- 0.9 pips spread on EURUSD and USDJPY + no commissions
- No dealing desk and no trading against clients
- New and fair interest policy
- They're regulated and they pay

I have to say these guys are true pioneers in the business. If somebody knows of any other bröker that provides all this, let me know, lol. I'd be glad to trade with them too.

I just hope they provided:

1) More deposit/withdrawal methods
2) A more advanced charting platform
  • #1,106
  • Oct 20, 2010 1:31pm Oct 20, 2010 1:31pm
Quoting Marv
bröker


Quoting Marv
Ability to trade in number units, not in fixed lot sizes (more flexibility)

I just hope they provided:

1) More deposit/withdrawal methods
2) A more advanced charting platform
The ability to trade in number units is extremely comfortable if you have a compounding plan. You can gradually adjust the number of units while your account grows..

More deposit withdrawal methods? Dont they have enough? And they are fast.

I also want to have more advanced charting platform... thats why I use their API... so that I can program whatever goes through my mind...
this pig cannot be slaughtered for ever... or can it?
  • #1,107
  • Oct 20, 2010 2:04pm Oct 20, 2010 2:04pm
Quoting georgem
More deposit withdrawal methods? Dont they have enough? And they are fast.
For you, yes. But people in some countries can't really use paypal for this (due to paypal limitations) and bank transfers can be a hassle for them. That's why some other brokers provide a couple alternative e-wallets (moneybookers comes to mind) along with credit/debit card deposits which Oanda doesn't accept, unlike companies like IBFX. I mean as long as the method used is verified and in your name, I don't see why not. These are widely used methods.

IBFX even gives you a free Mastercard debit card (issued through Payoneer) giving you direct access to your funds.

Anyway, I still stand by my belief that these are the two areas Oanda should work on if they want to step closer to perfection.
  • #1,108
  • Oct 21, 2010 1:51am Oct 21, 2010 1:51am
Quoting The Fool
The lack of hype is a plus in my book too.

What do you make of those trader profitability numbers? Oanda right at 50:50 and everybody else about 70:30 (unprofitable/profitable) or worse....
I find it hard to believe. I think it's a book-keeping issue. As we know, they pay interest. If you don't trade for a month, your account will grow due to interest. Until they reveal their precise methods for determining those numbers, we have to doubt them.

Personally, I just can't convince myself that Oanda traders, as a whole, are any better than the traders at other brokers. There just isn't enough information available about these traders to come to this conclusion.
  • #1,109
  • Oct 21, 2010 2:21am Oct 21, 2010 2:21am
Quoting Dopey
I find it hard to believe.
Yeah, grain 'o salt here. I don't know how the numbers are crunched. If not a rigorous set of rules for doing so, easy to lie with statistics, as always. I just found it kind of interesting that Oanda says 50/50 m/l while "everybody else" was around 75/25.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,110
  • Oct 21, 2010 3:42pm Oct 21, 2010 3:42pm
hello problems again... cant connect to nearly nothing for maybe 5 - 10 minutes... not even the webpage oanda.com....

504 Gateway Time-out


can someone confirm?

P.S. Iphone seems to work though....
this pig cannot be slaughtered for ever... or can it?
  • #1,111
  • Oct 21, 2010 3:48pm Oct 21, 2010 3:48pm
Okay, so far everything seems to work again.
this pig cannot be slaughtered for ever... or can it?
  • #1,112
  • Oct 21, 2010 10:41pm Oct 21, 2010 10:41pm
Quoting tinolonz
I used to trade with them about 3 years ago, and they was ok, still like that?
Yes, they're still fine.

Quoting tinolonz
I will trade in the range of 100,000-500,000
You mean 100k-500k in capital? That's a lot of money. I would suggest trading with an ECN (Interactive brokers, Dukascopy, and MBTrading come to mind) or with a bank.
  • #1,113
  • Oct 22, 2010 7:52am Oct 22, 2010 7:52am
Quoting tinolonz
hi, guys I am reading about Oanda, I have been far from trading for a few years, I will trade in the range of 100,000-500,000, mainly eur/usd gbp/usd, what do you think Oanda is ok for that?

I used to trade with them about 3 years ago, and they was ok, still like that?

Thanks
I believe the biggest amount of position you can open in oanda FXTrade is 10 million units... or, say 200'000 $ at 50:1 leverage... . not that I have done this... but try to type in that number in FXGame... it wont work..

I heard that it works through the Oanda API... there you can open bigger positions...

Not that you would go all-in with that amount of money, but I am just saying, there is a limitation on big size position in oanda...
I would open several sub-accounts with oanda if I were you and trade different strategies / currencies on them.

I never experienced any longer execution times on big positions but my biggest position was about 200'000 units... it was executed like that in half a second.
this pig cannot be slaughtered for ever... or can it?
  • #1,114
  • Oct 22, 2010 7:57am Oct 22, 2010 7:57am
Quoting Dopey
...
Personally, I just can't convince myself that Oanda traders, as a whole, are any better than the traders at other brokers. There just isn't enough information available about these traders to come to this conclusion.
I'm with you, Dopey. The Oanda numbers are such an outlier. That isn't to say I'm accusing them of anything misleading. I only suspect that the reporting process was poorly defined. For all we know, Oanda are as surprised as everyone else that their numbers are so different.

I was also surprised by the number of accounts they report, compared to everyone else. Reading here about sub-accounts, could they be counted individually, skewing those data as well?

dwt
  • #1,115
  • Oct 22, 2010 8:04am Oct 22, 2010 8:04am
Quoting dwt
I'm with you, Dopey. The Oanda numbers are such an outlier. That isn't to say I'm accusing them of anything misleading. I only suspect that the reporting process was poorly defined. For all we know, Oanda are as surprised as everyone else that their numbers are so different.

I was also surprised by the number of accounts they report, compared to everyone else. Reading here about sub-accounts, could they be counted individually, skewing those data as well?

dwt
But oandy IS really different than other brockers in so many aspects.... that should count for something , maybe even an explanation why there is a difference in the profitability-report outcome...

e.g. I NEVER EVER saw oanda make advertising of this sort:

You can get rich so fast, forex is easy... trade the EURO like a pro, get 400:1 leverage

But I see nearly all the other brokkers do that... even FXCM...
this pig cannot be slaughtered for ever... or can it?
  • #1,116
  • Oct 22, 2010 8:07am Oct 22, 2010 8:07am
Are they gonna do a new profitability report every year now, or even more frequent?

Now that all brokers must offer 50:1 leverage as a maximum, the profitability report will look much different next time... I am sure.
this pig cannot be slaughtered for ever... or can it?
  • #1,117
  • Oct 22, 2010 8:10am Oct 22, 2010 8:10am
Wow...just made my first Oanda withdrawal through paypal. My deposits have only taken around 30 minutes to post. And my withdrawal took a mere 3 hours! WOW. Awesome.

Thanks Oanda. Oh yea, I look at other brokers MT4 for my signals and trade off of Oanda. On a daily basis, I see about 1 to 2 spikes in price (likely stop hunts) from these MT4 brokers...yet Oanda never has anything out of the ordinary that isn't matching up with other "normal" price feeds.
  • #1,118
  • Oct 22, 2010 8:21am Oct 22, 2010 8:21am
Quoting georgem
Are they gonna do a new profitability report every year now, or even more frequent?

Now that all brokers must offer 50:1 leverage as a maximum, the profitability report will look much different next time... I am sure.
Quarterly, as per cftc rules.
  • #1,119
  • Oct 22, 2010 7:34pm Oct 22, 2010 7:34pm
Quoting nebuman213
Wow...just made my first Oanda withdrawal through paypal. My deposits have only taken around 30 minutes to post. And my withdrawal took a mere 3 hours! WOW. Awesome.

Thanks Oanda. Oh yea, I look at other brokers MT4 for my signals and trade off of Oanda. On a daily basis, I see about 1 to 2 spikes in price (likely stop hunts) from these MT4 brokers...yet Oanda never has anything out of the ordinary that isn't matching up with other "normal" price feeds.
That's why it would be good to see Oanda's rumored plan to offer the MT platform push through.

I really can't understand why some people are strongly opposed to having that as an option (other brokers such as Citi offer clients that choice), judging from posts on the Oanda forum.

It would also be a nice addition to have the free debit-card for withdrawals (like AvaFX) as someone suggests.
Amor Fati--F. Nietzsche
  • #1,120
  • Oct 23, 2010 6:14am Oct 23, 2010 6:14am
Quoting doji
That's why it would be good to see Oanda's rumored plan to offer the MT platform push through.

I really can't understand why some people are strongly opposed to having that as an option (other brokers such as Citi offer clients that choice), judging from posts on the Oanda forum.

It would also be a nice addition to have the free debit-card for withdrawals (like AvaFX) as someone suggests.
I am using Oanda for a couple of years now. Altough i like they platform runing via browser i would be happy if there would be MT4 platform for sure but i think it is not going to happen in near future. Their platform also shuted down for two hours so i couldnt operate with my trades that was really disaster. Thanks god it was only once. So far i never had a problem with them deposit and withdrawal is always fast it ussualy takes just a few hours.
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