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  • #2,281
  • Jul 14, 2011 1:10pm Jul 14, 2011 1:10pm
Quoting pinkiaiii
Im not the biggest fan of oandas policies and trading limitations,but they are 99% fair.SO if your not such a nowbie then wtf are you doing in this thread then,go open STP account with 50k$ and have fun there.
what policies and trading limitations?
I gotta dollar .. I gotta dollar .. I gotta dollar .. HEY HEY HEY HEY
  • #2,282
  • Jul 14, 2011 3:20pm Jul 14, 2011 3:20pm
I have been with OANDA for over 2 years without complains, but I just hated the MT4 platform for execution.

When I placed trades on MT4, and I placed over 100, it took much longer to execute than in the JAVA platform and it always got me the worst possible price available in that period of time, I would stop trading with them If I didn´t know that the JAVA works quite fine.

OANDA MT4: Never again.
  • #2,283
  • Jul 14, 2011 4:03pm Jul 14, 2011 4:03pm
Interesting what you said regarding the difference in order behavior between MT4 and the Java app on Oanda.

I noticed a big difference myself recently. Say you have a long position of 1000 units of EURUSD. If you want you can open a short position on the Java app of 1000 units of EURUSD and it will close the long position. This is how Oanda's position management has worked for years. They never had hedging and opening an opposite position actually closed the original one.

If you try to do the same thing in MT4 on Oanda it won't let you. So again say you have a long EURUSD position of 0.01 lots. If you try to close it by opening a short EURUSD position of 0.01 lots it is rejected as a hedge since I'm a US customer. This is normal behavior for other MT4 br0kers such as IBFX.

BUT if I go over to the Java app I CAN close the long position opened under MT4 by creating an equal-sized short position.

Interesting though rather annoying.
You are in a maze of twisty little passages, all alike.
  • #2,284
  • Jul 14, 2011 4:17pm Jul 14, 2011 4:17pm
If you get to know how the metatrader system truly works, chances are you will never want to have your orders going through it again.
  • #2,285
  • Jul 14, 2011 4:59pm Jul 14, 2011 4:59pm
i heard Oanda pay for your interest based on your account balance everyday even if you don't trade. Is that true ?
  • #2,286
  • Jul 14, 2011 6:05pm Jul 14, 2011 6:05pm
Quoting Yuchen
i heard Oanda pay for your interest based on your account balance everyday even if you don't trade. Is that true ?
Yes.
You are in a maze of twisty little passages, all alike.
  • #2,287
  • Jul 14, 2011 8:30pm Jul 14, 2011 8:30pm
Quoting Marv
If you get to know how the metatrader system truly works, chances are you will never want to have your orders going through it again.
I totally Agree, When i heard that Oanda was Going to use Mt4 I was scared they may Drop Fxtrade. Mt4 was built to always work against you. i can't remember it's Name But their is a software that causes that lag during high volatility. Anyways I never had a good experience Trading with Mt4 and i've been doing this for 4 years.
Best Regards Moneymike
  • #2,288
  • Jul 15, 2011 4:09am Jul 15, 2011 4:09am
Quoting moneymike
I totally Agree, When i heard that Oanda was Going to use Mt4 I was scared they may Drop Fxtrade. Mt4 was built to always work against you. i can't remember it's Name But their is a software that causes that lag during high volatility. Anyways I never had a good experience Trading with Mt4 and i've been doing this for 4 years.
In conclusion, we can using the IBFX meta trader 4 to look for our entry and we also using the Oanda Java platform to execute our order at the same time.... so there is no problem already LOL...
  • #2,289
  • Jul 15, 2011 4:47am Jul 15, 2011 4:47am
Quoting moneymike
Mt4 was built to always work against you.
This is showing your lack of knowledge. It's nonsense. But to give you that Oanda was the first broker that explicitly stated to not use that infamous virtual dealer plug-in everyone is afraid of. http://forexmagnates.com/oanda-attains-metatrader-4/

BTW that's something MB Trading always did refuse to announce.

So MT4 on its own is a harmless piece of software. The difference is what you want to do with your software. Similar to having a gun. A gun is harmless. The difference lies in its usage. Do you wanna shot someone or do you wanna shoot down a fruit on a tree? So there is Metatrader for dealing desks and there is Metatrader for non-dealing desks. Oanda isn't a dealing desk broker and the ordering process is fully automated there.
  • #2,290
  • Jul 15, 2011 8:00am Jul 15, 2011 8:00am
Every statement of Mr. Marv has been put to dust. Statements of a real noob. In fact he is the one attacking Oanda users and stating that at Oanda there are undercapitalised newbies all around. Because of what reason? Just because Oanda's smallest ordering size is one unit? What kind of logic is that. What a joke. Providing a smallest ordering size of one unit allows you to do the best money management you can get. And the list goes on and on.
  • #2,291
  • Jul 15, 2011 8:30am Jul 15, 2011 8:30am
Another one of Mr. Marv's logics, because of Oanda providing metatrader there are - quote - "more idiots" there than before. Yet "his" brökers those at which he does his paper trading do offer the same Metatrader as Oanda does. MB trading offers Metatrader and LCG does offer Metatrader.

And another logic of his, just because Oanda does offer interest they are manipulating statistics. But as you can see now at Oanda there are still the most profitable accounts of all retailers, with or without including interest. And where is MBT in this stats?

Also Oanda is much more capitalised than MBT. Still Mr. Marv is calling Oanda a bucket shop but not MBT.

And he stated that you can't make money at a market maker. Well as you can see at Oanda you can make money. And why? Because Oanda doesn't have a dealing desk. Just Mr. Marv can't earn anything. But that's his problem. Let's wait and see until he is crying out loudly against MBT if he finally starts real trading. Until now the only thing he is good at is complaining and whining and showing talent of having no clue at all.

That being said not everything is shiny at Oanda. No question about it. But where is this the case? Tell me about it.
  • #2,292
  • Jul 15, 2011 11:14am Jul 15, 2011 11:14am
Ok let me tell you my background. When i first started trading i traded with Alpari Uk. the platform was Unstable to say the least i would get re-quoted During low Volatility. I experience many periods where i couldn't even access their server. Or where i had to wait literally mins for my orders to be processed and when it was it was re-quoted. So i closed it out and moved to FXCM, FXDD and finally to Oanda.
What i said in my first post was i had bad experiences with MT4.

Now as for you i have read a few of your post and in just the last Two pages in this thread you belittle anyone who don't conform to your reason of thinking.

Quoting A_3
This is showing your lack of knowledge.
Do you really think you are so smart?
I may be Young at 24 and i know i don't know everything there is about this business, But i have years ahead of me to learn, and you may be older but you have to grow man really. This shows a sign of mental retardation when you belittle someone else just to feel smarter.
Best Regards Moneymike
  • #2,293
  • Jul 15, 2011 11:21am Jul 15, 2011 11:21am
Quoting A_3
Another one of Mr. Marv's logics, because of Oanda providing metatrader there are - quote - "more idiots" there than before. Yet "his" brökers those at which he does his paper trading do offer the same Metatrader as Oanda does. MB trading offers Metatrader and LCG does offer Metatrader.

And another logic of his, just because Oanda does offer interest they are manipulating statistics. But as you can see now at Oanda there are still the most profitable accounts of all retailers, with or without including interest. And where is MBT in this...
If 30% of all traders are positive in first quarter , 30% pos of the first quarter in the second, 30% third and finally 30% 4th , you actually have less than 1% making money after one year.

We need yearly , 2 year and finally 5 year stats, then everybody will stop trading realizing it is just to difficult .
  • #2,294
  • Jul 15, 2011 1:48pm Jul 15, 2011 1:48pm
Quoting StephanusR
If 30% of all traders are positive in first quarter , 30% pos of the first quarter in the second, 30% third and finally 30% 4th , you actually have less than 1% making money after one year.

We need yearly , 2 year and finally 5 year stats, then everybody will stop trading realizing it is just to difficult .
And what does it have to do with Oanda? Write a letter to the CFTC
  • #2,295
  • Jul 15, 2011 4:10pm Jul 15, 2011 4:10pm
Oanda just stopped out my NZD/JPY trade.

They stopped me at 67.15 - I make today's high on that pair 66.894. Would anyone from oanda care to explain as their live chat is now offline.

Now I know there's spread and all but this is highly irregular...
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Anything can happen.
  • #2,296
  • Jul 15, 2011 4:20pm Jul 15, 2011 4:20pm
Dude, the market just closed for the weekend and the bid/ask spreads all widened.

NZD/JPY normally is pretty wide to begin with and it's now 40 pips wide.
You are in a maze of twisty little passages, all alike.
  • #2,297
  • Jul 15, 2011 4:55pm Jul 15, 2011 4:55pm
Quoting ddinnov
Now I know there's spread and all but this is highly irregular...
You havent been trading with them long, have you?

Otherwise you should have noticed the ridiculous widening of spreads going into the weekend.
  • #2,298
  • Jul 16, 2011 1:51am Jul 16, 2011 1:51am
Quoting traderjai_inhi
You havent been trading with them long, have you?

Otherwise you should have noticed the ridiculous widening of spreads going into the weekend.
No just finished second week. Lesson learnt, and at least it wasn't that expensive a lesson...
Anything can happen.
  • #2,299
  • Jul 16, 2011 9:07am Jul 16, 2011 9:07am
Quoting traderjai_inhi
You havent been trading with them long, have you?

Otherwise you should have noticed the ridiculous widening of spreads going into the weekend.
You want to have the same low spread during ridiculous low or non-existent liquidity? How stupid is that? Who would do that? You?
  • #2,300
  • Jul 16, 2011 9:46am Jul 16, 2011 9:46am
Ok I found the page I need to check if I want to hold a position into the weekend:

http://fxtrade.oanda.com/why/spreads/recent
Anything can happen.
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