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OANDA Discussion

  • #1,581
  • Feb 2, 2011 8:27pm Feb 2, 2011 8:27pm
Quoting georgem
Whooaa??

Oanda USD/JPY has a spread of 0.7 pips right now???

I had to take a look twice.... never seen such a low number ever.
Yesterday someone posted this pic below showing the recorded Oanda EUR/USD spreads and their frequency (based on 1 minute data) for July 2010 until end of November 2010.

You can see that 0.7 pips spread isn't the lowest ever recorded for EUR/USD (not sure about USD/JPY though). Less than 0.9 pips spreads are pretty rare though (only 61 minutes in 5 months).


http://www.forexfactory.com/attachme...1&d=1296610634
  • #1,582
  • Feb 3, 2011 4:04am Feb 3, 2011 4:04am
Quoting Marv
Yesterday someone posted this pic below showing the recorded Oanda EUR/USD spreads and their frequency (based on 1 minute data) for July 2010 until end of November 2010.

You can see that 0.7 pips spread isn't the lowest ever recorded for EUR/USD (not sure about USD/JPY though). Less than 0.9 pips spreads are pretty rare though (only 61 minutes in 5 months).
Oh, I missed that discussion.... thanks!
this pig cannot be slaughtered for ever... or can it?
  • #1,583
  • Feb 3, 2011 8:31am Feb 3, 2011 8:31am
Why would you be expecting low spreads from the market maker?
May the Force be with You
  • #1,584
  • Feb 3, 2011 8:55am Feb 3, 2011 8:55am
why trade with a market maker when theres cheap ECN brokers you can use. why deal with all the BS that comes with trading with a market maker
  • #1,585
  • Feb 3, 2011 8:59am Feb 3, 2011 8:59am
Quoting alex_000
Why would you be expecting low spreads from the market maker?
Because they can.

Show me one market maker other than Oanda that offers 0.9 spreads on EURUSD and USDJPY 83% of the time. Hell I know some ECN's that don't offer this after including commissions.

Sorry but I think other market makers need to cut the 2 pip and 3 pip crap and offer some real spreads. They can do it (and Oanda is proof), they just want to make even more money that's all.
  • #1,586
  • Feb 3, 2011 9:12am Feb 3, 2011 9:12am
Quoting PoundTrader
why trade with a market maker when theres cheap ECN brokers you can use. why deal with all the BS that comes with trading with a market maker
Personally I would ask that question only to people with big accounts trading with market makers. Some people want to start out with one or two hundred bucks, knowing that they'll probably lose it anyway while still learning (and don't tell me about demo trading, that can never simulate the experience of trading real money). There is nothing wrong with that. When you're a noob, it's better and wiser to risk $100 than $1k, which is what most ECN's require as a minimum deposit.

But I keep seeing these wannabes that are far from being real pros/consistent winners but want to trade in the interbank market. lol! If you're gonna suck, at least suck in a small market where you won't lose much.

Oanda has proven to be perfectly fine and safe though even for larger accounts.

Besides, most MM's including Russian bucket shops are claiming to offer ECN or STP accounts these days. That doesn't make them any better or safer. For non-professional low-to-medium-capital traders, I'd say what really matters is to find a safe and transparent broker regardless if it's ECN or not. For the rest, I'd say step on to the bigger market and get a REAL broker.
  • #1,587
  • Feb 3, 2011 11:14am Feb 3, 2011 11:14am
Quoting Marv
Oanda has proven to be perfectly fine and safe though even for larger accounts.

Besides, most MM's including Russian bucket shops are claiming to offer ECN or STP accounts these days. That doesn't make them any better or safer. For non-professional low-to-medium-capital traders, I'd say what really matters is to find a safe and transparent broker regardless if it's ECN or not. For the rest, I'd say step on to the bigger market and get a REAL broker.
Thats the next statistics I would like oanda to show us.
How much money all oanda customers have alltogether. And then brake it down into different account sizes.
I dont know about you people, but that would be very enlightening to me. And either comfort me or unsettle me.

Personally I wouldnt care to trade with 40 million of account size with oanda (lol).... I am curious if someone is actually doing this. lol

Did oanda ever say something?

P.S.: If I can grow my account to millions with oanda, then I am going to keep my money with them. Thats the way I see it.
this pig cannot be slaughtered for ever... or can it?
  • #1,588
  • Edited 12:14pm Feb 3, 2011 11:49am | Edited 12:14pm
Quoting alex_000
Why would you be expecting low spreads from the market maker?

Because ECN brokers do NOT earn money from customers losses.
Which means, ECNs earn less in overall picture.

To increase profits ECNs and STPs charge commissions and offer higher spread. (yes, spreads are low, but wait until all Market Makers tighten their
spreads, and oh yeah they will)

In the end, a market maker is BETTER than any ECNs or STPs, if it comes to spread and commisions.

I don't know guys, you had any economic classes in high school?
No dealing desk things are only words for products that have yet to prove themselves on the market.


Because Market Makers make MORE money than ECNs, they can afford to have tighter spreads.

I even think all this ECN STP thing is going to die out sooner or later. The good thing about ECN is that it tightens spreads on market makers due
to competition. Market Makers have no problem tightening spreads.

Regardless of what you read in this forum, but MarketMakers are a better choice and have always been until now.
Marketmakers can survive on the market better, they can even give you a 0 spread and still make money (given that there is still a huge portion of unprofitable accounts, but even if not, MM will simply continue hedge against profitable accounts and still make money.).

About tighter spreads: market makers can all set their spreads to 0.5 and that's where ECNs won't keep up, see what I mean?

If a MM offers big spreads, it's a greedy bucket shop that has not yet felt the competition from ecns.

MarketMaker is a far better model of broker and has a lot of potential to improve further.

The future will tell us the truth.
I am wondering what's gonna be in 10 15 years from now.

The only thing about Oanda I don't like is their platform: I have a new bug every day, because I probably trade to much :>. Yesterday all pop up windows of FxTrade would appear only behind the main window. I don't have anything "always on top" activated, and it was painful to always need to move the window to find that pop up.

I know hundreds of fxTrade bugs and many of them I have posted in this thread and I can easily reproduce them. I have hundreds and hundreds of trades missed because of those bugs. For example, try resizing the fxTrade window right after clicking on profile change buttons under Account info. Everything looks normal, but one click buy does not work after it. Don't know if the bug is still there, but you could not place the trade from quote menue if you resize the window during account change through the button.

Whoever invented java should be send to Auschwitz. Sun Microsystems you say? Well, their logo is a swastika. There you go.
I found a penny today. That's +100 pips for me.
  • #1,589
  • Feb 3, 2011 12:27pm Feb 3, 2011 12:27pm
Your opinion on MMs vs ECNs is completely biased.

For a more objective and informed view, check out this article: http://www.forexfactory.com/showthread.php?t=7484

Quote
Whoever invented java should be send to Auschwitz. Sun Microsystems you say? Well, their logo is a swastika. There you go.

I sure hope that's a joke. lol
  • #1,590
  • Feb 3, 2011 4:35pm Feb 3, 2011 4:35pm
Quoting ReaM
Because ECN brokers do NOT earn money from customers losses.
Which means, ECNs earn less in overall picture.

To increase profits ECNs and STPs charge commissions and offer higher spread. (yes, spreads are low, but wait until all Market Makers tighten their
spreads, and oh yeah they will)

In the end, a market maker is BETTER than any ECNs or STPs, if it comes to spread and commisions.

I don't know guys, you had any economic classes in high school?
No dealing desk things are only words for products that have yet to prove themselves on the market.


Because...
  • #1,591
  • Feb 5, 2011 11:28am Feb 5, 2011 11:28am
Quoting Marv
Your opinion on MMs vs ECNs is completely biased.

For a more objective and informed view, check out this article: http://www.forexfactory.com/showthread.php?t=7484



I sure hope that's a joke. lol

Yesterday I tried to short the NFP (yes, I trade news with Oanda and can't complain, because I ve never lost until now), and the trade would not go through, some empty pop up would appear which you could only close.

I also tried to go long at the bounce on the 1m candle, which also would have been profitable and neither that trade went through. By the way, I had MT4 from Oanda open on the side and the price responded faster and MT4 did not freeze or anything (while on the strong fall down fxTrade froze for 5 seconds or so).

I don't like any of the java applications, they all are jelly and fake. Joke or no joke, I don't know man.
I found a penny today. That's +100 pips for me.
  • #1,592
  • Feb 5, 2011 11:34am Feb 5, 2011 11:34am
Quoting Marv
Your opinion on MMs vs ECNs is completely biased.
No,

I know that MM can have motivation to have some extra profit by stoploss hunting, high slippage, platform crash, connection loss.

But this is MM of yesterday. Think of MM and no dealing desk as DNA's. What I said in the previous post: MM has better DNA, it can adjust, and no STP or ECN will be able to compete with them, because MM earn money from losing customers and protect themselves by those accounts that are profitable.

In the end, MM can (it's in their DNA) have better spreads, because they have other sources of incoma than spread, while STPs, ECNs will always charge you a commision...

I don't know more about brokers than I write, but STPs and ECNs have yet to prove themselves on the market.
I found a penny today. That's +100 pips for me.
  • #1,593
  • Feb 5, 2011 11:48am Feb 5, 2011 11:48am
I've been told they trade against you and that their platform is unstable and often throws a connection.
They're also useless, I've been told, if you want to trade news.
He was looking for the card so high and wild hed never need to deal another
  • #1,594
  • Feb 5, 2011 11:59am Feb 5, 2011 11:59am
Quoting dr_who
I've been told they trade against you and that their platform is unstable and often throws a connection.
They're also useless, I've been told, if you want to trade news.

It does not matter if they trade against you... It does not affect you in any way, it only saves them from not losing money, because if you win, they lose money, since you buy from them.

Oanda is great... the platform unstable, yes, but for scalping any platform is crappy and intraday, you can place your orders in mozilla firefox... I trade stocks in browser, because the intraday noise is of no matter to me.

Multicharts is great, but works only with certain brokers.

For me Oanda is placed number 1 broker!!! All I do is complain about them here, of course, whats the point talking about beautiful things? Oh, how nice I placed an order today, it was not slipped and I got perfectly out with some nice benjis.
I found a penny today. That's +100 pips for me.
  • #1,595
  • Feb 5, 2011 12:30pm Feb 5, 2011 12:30pm
Quoting ReaM
It does not matter if they trade against you... It does not affect you in any way, it only saves them from not losing money, because if you win, they lose money, since you buy from them.

Complete gibberish as its a conflict of interest. If they have control over your spreads, your trades, your platform they can manipulate every aspect of your trading. Thats a conflict of interest. If you can't understand that you really shouldn't be trading.
He was looking for the card so high and wild hed never need to deal another
  • #1,596
  • Feb 5, 2011 12:36pm Feb 5, 2011 12:36pm
That's nonsense.



By the way, anyone knows why babypips broker comparison shows Oanda as non-dealing desk?

http://www.babypips.com/tools/forex-...de/compare.php
I found a penny today. That's +100 pips for me.
  • #1,597
  • Feb 5, 2011 12:42pm Feb 5, 2011 12:42pm
Quoting ReaM
That's nonsense.


Of course it isnt. It's like betting on soccer with a bookmaker who can also decide on the scores. Its a conflict of interest.
He was looking for the card so high and wild hed never need to deal another
  • #1,598
  • Feb 5, 2011 12:53pm Feb 5, 2011 12:53pm
I know your intentions are good,

but whatever Oanda is, it does not affect me in any way. My SL has never been hit by a sudden increase in spread for a milisecond. Last year I was slipped 30 pips, but the order converted into an limit order and has never been executed (not because of bounds, which I forgot to put in).

I did not like mbt, duka or any other broker because of spreads, comissions, or execution times... I have not found anything better than Oanda, so why would I change my mind?

We will always play broker's game. Fifa will always make more than anyone in soccer, casinos will always be in profit, the house always wins.
I found a penny today. That's +100 pips for me.
  • #1,599
  • Feb 5, 2011 12:58pm Feb 5, 2011 12:58pm
Quoting ReaM
I know your intentions are good,

but whatever Oanda is, it does not affect me in any way. My SL has never been hit by a sudden increase in spread for a milisecond. Last year I was slipped 30 pips, but the order converted into an limit order and has never been executed (not because of bounds, which I forgot to put in).

I did not like mbt, duka or any other broker because of spreads, comissions, or execution times... I have not found anything better than Oanda, so why would I change my mind?
I certainly agree that if you've experienced a good service and are happy with what you're getting, then there's no reason to change. I just dont like the idea of trading with a company that are obviously taking the other end of my trade.

I hope your good experiences continue and may all your trading be profitable.
He was looking for the card so high and wild hed never need to deal another
  • #1,600
  • Feb 5, 2011 1:01pm Feb 5, 2011 1:01pm
I actually got two emails from Oanda on Friday because one pair I had a trade in experienced an incorrect price-spike. First email mentioned it, second email explained how they reinstated the trades at the same levels.

I didn't even have to complain.

Yep.....I'm still an Oanda cheerleader.
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