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  • #1,701
  • Edited 10:02am Mar 4, 2011 9:20am | Edited 10:02am
Quoting ReaM
Similar thing was about two weeks ago on EU, after some orange or yellow news in the morning EU had 5 pip spread of an hour or so. I think it was Monday last week, not sure. While other brokers had normal spread.
Hmmmm, I went out for an hour and I see it's still 10 pips at 3:19 PM so I am assuming it was 10 pips for the hour I was out as well.

[EDIT] Okay 4:00 PM - Finally spread is back to 2.1 - 2.5 hours later .....
Nothing worth having is easy.
  • #1,702
  • Mar 4, 2011 1:53pm Mar 4, 2011 1:53pm
Whatever happened to the 0.9 spread on EUR/USD?

Looks like it's been permanently raised (without telling clients). The dominant spread is no longer 0.9, it's higher for some reason.

Okay I'm gonna admit it: Something has happened to Oanda, and I don't like it. Some changes have indeed been happening together that I don't think it's coincidence.

- Heavy web advertising campaign
- A not so honest advertising trick based on the CFTC quarterly report stats
- Widening spreads
- Supporting MT4
etc.

They seem to be taking a new direction targeted towards bringing as many new clients as possible of the "newbie" kind, and increasing profit.

Nothing most other MM's aren't doing, I know. Just keep your eyes open.
  • #1,703
  • Mar 4, 2011 2:12pm Mar 4, 2011 2:12pm
it's so funny what traders will put up with just to get better spreads. oanda tricks have been well known but traders stick around because of the spreads, in the end they will pay a heavy price.
  • #1,704
  • Mar 4, 2011 5:32pm Mar 4, 2011 5:32pm
Quoting PoundTrader
it's so funny what traders will put up with just to get better spreads.
Spreads are the "house edge". For a short-term trader/daytrader, they matter (and should matter) due to their influence in the long run.

Let's say a person trades with bröker A with 1 pip average spread. This person:

- has $10k in their account
- places 2 trades a day, risking 2% each trade
- 20 pip SL and 25 pip TP, on average
- wins 1 trade a day on average

--> This guy makes 5 pips a day, counting the spread he makes 4 pips a day
= 0.4% daily return
= 2 years of compounding turn his capital into $177,122

Now let's say the person ignores bröker A and instead trades with bröker B offering 2 pip average spread.

--> This guy makes 5 pips a day, counting the spread he makes 3 pips a day
= 0.3% daily return
= 2 years of compounding turn his capital into $86,431

Because of a 1 pip difference in spread, in two years he just lost (from his potential winnings):
177,122 - 86,431 = $90,691

Sucker!

(and vice versa for the bröker, which made much more than bröker A)

Now you might not want to care about spreads and prefer a bröker like IBFX who still charges over 2 pips on EURUSD, but some serious daytraders do.
  • #1,705
  • Mar 4, 2011 5:42pm Mar 4, 2011 5:42pm
I agree, at one time I was very pro Oanda, right now they're they're just another b0rker with many of the same issues. I still use them as my primary b0rker, but if things don't change and change soon I'll be off to another b0rker ... been doing research on a new b0rker for the past couple of days.
  • #1,706
  • Mar 4, 2011 5:46pm Mar 4, 2011 5:46pm
Quoting GulfCoastPip
I agree, at one time I was very pro Oanda, right now they're they're just another b0rker with many of the same issues. I still use them as my primary b0rker, but if things don't change and change soon I'll be off to another b0rker ... been doing research on a new b0rker for the past couple of days.
Ditto. I'm staying with Oanda, but also look at MB Trading and eventually I'd like to go with TradeStation, but just not there yet.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #1,707
  • Mar 4, 2011 5:51pm Mar 4, 2011 5:51pm
Quoting Marv
Spreads are the "house edge". For a short-term trader/daytrader, they matter (and should matter) due to their influence in the long run.

Let's say a person trades with bröker A with 2 pip average spread. This person:

- has $10k in their account
- places 2 trades a day, risking 2% each trade
- 20 pip SL and 25 pip TP
- wins 1 trade a day on average

--> This guy makes 5 pips a day, counting the spread he makes 4 pips a day
= 0.4% daily return
= 2 years of compounding turn his capital into $177,122

Now let's say the person ignores...
I agree with you. Many traders just dont understand how spreads affect their profitability. It does not matter whether they are daytrader or long term trader, every pips count.

Oanda has changed their 0.9pips average pips to 1.2pips, which is 33% increment of house edge, or 33% lesser of our edge. If any of you cant feel the pain, do some math.
  • #1,708
  • Mar 4, 2011 5:56pm Mar 4, 2011 5:56pm
Quoting GulfCoastPip
but if things don't change and change soon I'll be off to another b0rker ... been doing research on a new b0rker for the past couple of days.
I already moved on to another bröker months ago, I just kept a smaller balance with Oanda for some long-term positions (which is not really my main focus).
  • #1,709
  • Mar 4, 2011 10:33pm Mar 4, 2011 10:33pm
Quoting ForexQuant
I agree with you. Many traders just dont understand how spreads affect their profitability. It does not matter whether they are daytrader or long term trader, every pips count.

Oanda has changed their 0.9pips average pips to 1.2pips, which is 33% increment of house edge, or 33% lesser of our edge. If any of you cant feel the pain, do some math.
@ math : spreads should be compared to ATR , so now we have 1.2 pips but also the EUR moves more these days and the ATR increased more than the 0.3 pips ...
  • #1,710
  • Mar 5, 2011 9:40am Mar 5, 2011 9:40am
But when the platform crashes - like it did to me on Friday - that is real concern

I called OANDA - 3 times in 15 minutes and no one could access my account to tell me if I had a position on or was flat.

Seems to have a Defect with no Back Up Plan -

Just new to OANDA - anybody else have problems?
  • #1,711
  • Mar 5, 2011 10:22am Mar 5, 2011 10:22am
Quoting StephanusR
Cant' trade eurusd whole morning now on Oanda. gbpusd can trade.
I have a 'fake' trade open that magically appeared on mt4 which i can't close. It prevents me from opening any euro positions with a 'no hedging' message.

Anybody else?
Yes, I've been suffering this problem too this week on a mt4 live account. I'm currently discussing the problem via customer support but it isn't fixed yet because just today two more erroneous trades have appeared which I won't be able to close due to the 'off quotes' error.
  • #1,712
  • Mar 5, 2011 10:23am Mar 5, 2011 10:23am
Quoting Wave Trader
But when the platform crashes - like it did to me on Friday - that is real concern

I called OANDA - 3 times in 15 minutes and no one could access my account to tell me if I had a position on or was flat.

Seems to have a Defect with no Back Up Plan -

Just new to OANDA - anybody else have problems?
yesterday MT4 live was working normally , always have multiple brokers this is the best solution ...
  • #1,713
  • Mar 5, 2011 10:53am Mar 5, 2011 10:53am
Here's my advice ... do not trade using Oanda MT4 until at least June, preferrably August. Give them time to work the bugs out.

I can't stand the disconnect issues from the FX Trade platform, but personally I've never had an issue with Oanda closing a position for me if I need it closed.
  • #1,714
  • Mar 5, 2011 11:07am Mar 5, 2011 11:07am
Oanda is bucket shop, marketmaker and has software manipulation that works against clients very often.

It is masked by non-execution and some glitches (frozen platform or crash) that are sometimes more often impose real dangers to traders account.
After being ripped-off on several trades, I don't trust Oanda anymore, although I liked their interface. Small spread is gimmick, pure trickery to attract clients.

  • #1,715
  • Mar 5, 2011 11:24am Mar 5, 2011 11:24am
Quoting Creator
Oanda is bucket shop, marketmaker and has software manipulation that works against clients very often.

It is masked by non-execution and some glitches (frozen platform or crash) that are sometimes more often impose real dangers to traders account.
After being ripped-off on several trades, I don't trust Oanda anymore, although I liked their interface. Small spread is gimmick, pure trickery to attract clients.

your proof ?
  • #1,716
  • Mar 5, 2011 2:18pm Mar 5, 2011 2:18pm
Quoting Creator
Oanda is bucket shop, marketmaker and has software manipulation that works against clients very often.

It is masked by non-execution and some glitches (frozen platform or crash) that are sometimes more often impose real dangers to traders account.
After being ripped-off on several trades, I don't trust Oanda anymore, although I liked their interface. Small spread is gimmick, pure trickery to attract clients.

What timeframe do you trade?
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #1,717
  • Mar 5, 2011 3:10pm Mar 5, 2011 3:10pm
Quoting tar
your proof ?
you don't trade with Oanda, do you?
I found a penny today. That's +100 pips for me.
  • #1,718
  • Mar 6, 2011 4:41am Mar 6, 2011 4:41am
I've been experiencing some problems with Oanda for some time, I'm using the java platform, and was going to change to their Mt4, however I'm not sure if I should or look elsewhere.

My order windows have been slow to respond, delay in closing trades, entering trades. I discussed it with live help and they thought it might be my internet connection. so I reinstalled, did all the troubleshoot things and it worked for a day, as it used too...next day slow again, and error window stopped me from closing a trade, I also had a trade open that didn't show up anywhere, so couldn't close it...showed up when it was in the red tho!

Then far too often for comfort, platform crashes at busy times, restarts fine when all momentum has dried up tho!

I thought it must be my internet, and maybe it is, as surely people would be reporting on these glitches...just feels a bit unfomfortable, so am holding off from switching to their Mt4, but would like to know customers comments with using it.

They used to be good for scalping, but seems just the opposite now, too slow to be comfortable taking quick trades.
  • #1,719
  • Mar 6, 2011 5:07am Mar 6, 2011 5:07am
Ive never once had any problem like this with Oanda.... they have been the greatest thing since french fries.... never slow... always fair and exact.... I think no one beats their service....

Quoting annieb
I've been experiencing some problems with Oanda for some time, I'm using the java platform, and was going to change to their Mt4, however I'm not sure if I should or look elsewhere.

My order windows have been slow to respond, delay in closing trades, entering trades. I discussed it with live help and they thought it might be my internet connection. so I reinstalled, did all the troubleshoot things and it worked for a day, as it used too...next day slow again, and error window stopped me from closing a trade, I also had a trade open that didn't...
  • #1,720
  • Mar 6, 2011 5:09am Mar 6, 2011 5:09am
I havent lost a trade in over a year.... and I use only Oanda...!!

Quoting Creator
Oanda is bucket shop, marketmaker and has software manipulation that works against clients very often.

It is masked by non-execution and some glitches (frozen platform or crash) that are sometimes more often impose real dangers to traders account.

After being ripped-off on several trades, I don't trust Oanda anymore, although I liked their interface. Small spread is gimmick, pure trickery to attract clients.

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