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OANDA Discussion

  • #3,101
  • Jul 16, 2012 11:38pm Jul 16, 2012 11:38pm
Quoting 9thInning
Well, it WAS a weekend Maybe they'll get to it by today.
10 days later?... nice try
  • #3,102
  • Edited 12:26pm Jul 17, 2012 11:12am | Edited 12:26pm
I'm not pissed, but just had an order triggred on AUD/USD that had set @ 1.02898. However, the price never got pass 1.02881. Is this something that happens regularly? Should I take this to Oanda and ask them about it?

edit: the price did eventually reach 1.02898, so not a big deal. However, something to keep an eye on in the future.
  • #3,103
  • Jul 18, 2012 5:10am Jul 18, 2012 5:10am
http://s16.postimage.org/3pk0oao6d/chart.jpg

Just got bombed out of a trade by 10 pips, away from any newstrade. GBP/USD. Is that normal for the spread to increase to 10 like this? I think I am being screwed over here.
  • #3,104
  • Jul 18, 2012 5:15am Jul 18, 2012 5:15am
Oanda started widening spreads on indexes also...
  • #3,105
  • Jul 18, 2012 5:34am Jul 18, 2012 5:34am
Quoting Nate04
I'm not pissed, but just had an order triggred on AUD/USD that had set @ 1.02898. However, the price never got pass 1.02881. Is this something that happens regularly? Should I take this to Oanda and ask them about it?

edit: the price did eventually reach 1.02898, so not a big deal. However, something to keep an eye on in the future.
The bar charts are showing mid prices!! Choose minmax view plus close bid and close ask overlay
  • #3,106
  • Jul 18, 2012 10:04am Jul 18, 2012 10:04am
Quoting A_3
The bar charts are showing mid prices!! Choose minmax view plus close bid and close ask overlay
This.

Oanda widens spreads during news. The bars are painted from the midpoint so you'll have to set "min/max" to see where the bid/ask got to during that time.

I really like Oanda, but I won't pretend that they are good for news trading... unless the position is a long term swing, I tend to make sure I'm flat before major news releases.
FXGears.com
  • #3,107
  • Jul 18, 2012 8:07pm Jul 18, 2012 8:07pm
beware of this broker....they start to slip people by 2-10pips........i think their company is having problems
  • #3,108
  • Jul 18, 2012 8:14pm Jul 18, 2012 8:14pm
Quoting slow_trader
beware of this broker....they start to slip people by 2-10pips........i think their company is having problems
get your money out while you can
  • #3,109
  • Jul 18, 2012 10:38pm Jul 18, 2012 10:38pm
Quoting PoundTrader
get your money out while you can

citifx is worse....they charge you 4.5pips plus slippage
  • #3,110
  • Jul 19, 2012 4:50am Jul 19, 2012 4:50am
I am with them for 2 years now. Not even one complain here .... just dont play 5min pre/past news and there wont be any slippage. Most of the time slippage is just change in interbank liquidity around the bid/ask.
  • #3,111
  • Jul 19, 2012 5:35am Jul 19, 2012 5:35am
Quoting Greenhaze
Most of the time slippage is just change in interbank liquidity around the bid/ask.
Interbank liquidity with Oanda? Come back to the real world please.

Newsflash: Oanda is a market maker = They make the spreads, and you trade Oanda liquidity, not interbank liquidity.
  • #3,112
  • Jul 19, 2012 5:43am Jul 19, 2012 5:43am
Quoting Marv
Interbank liquidity with Oanda? Come back to the real world please.

Newsflash: Oanda is a market maker = They make the spreads, and you trade Oanda liquidity, not interbank liquidity.


pssst...
  • #3,113
  • Jul 19, 2012 5:53am Jul 19, 2012 5:53am
Quoting Marv
Interbank liquidity with Oanda? Come back to the real world please.

Newsflash: Oanda is a market maker = They make the spreads, and you trade Oanda liquidity, not interbank liquidity.
Sry... i wasn't clear enough,

You are right but that doesnt change the fact that they hedge their risk in interbank market. If liquidity is thin in interbank then their spreads are wide aswell.
  • #3,114
  • Jul 19, 2012 5:53am Jul 19, 2012 5:53am
I also have had a good experience with them. I think mm's get a bad rap but if you would just take a look at the honest mm model you would see that you are probably better off than with a ecn as long as you are small. I mean Oanda makes good money because they just sell your buys to someone else and someone else is buying your sells. What they can't keep in house they hedge on the interbank market. The hedging is the only reason they have to increase the spreads and if you notice the spreads during news times will return to normal really quickly. I believe that Oanda is about as good as you will find in the mm side of things and they aren't making more money than they should and aren't engaging in gorilla tactics. In the end i think it's smart because if their customers become profitable, over the years they will make much more money than if hey just blew up accounts like everyone else does.
  • #3,115
  • Jul 19, 2012 5:54am Jul 19, 2012 5:54am
Quoting Marv
Interbank liquidity with Oanda? Come back to the real world please.

Newsflash: Oanda is a market maker = They make the spreads, and you trade Oanda liquidity, not interbank liquidity.
so true, only newbies defend this broker.
  • #3,116
  • Jul 19, 2012 6:04am Jul 19, 2012 6:04am
Quoting PoundTrader
so true, only newbies defend this broker.

I did not say they send your orders to interbank. They hedge their risk in interbank so if liquidity is low they widen their spread.

A lot of bigger traders then you and me trade using oanda.
  • #3,117
  • Jul 19, 2012 4:07pm Jul 19, 2012 4:07pm
Oanda when are you going to offer CFDs to your singapore division? Could you approximate when??
Riding the order flow
  • #3,118
  • Jul 27, 2012 7:54am Jul 27, 2012 7:54am
Oanda MT4 Real Account disconnected 25 minutes ago and still off.
  • #3,119
  • Jul 27, 2012 7:57am Jul 27, 2012 7:57am
Same here - the java platform works fine though. Disgraceful - and all the customer service reps are busy.

Edit: just got reconnected. 25 minute downtime after important news.
  • #3,120
  • Jul 27, 2012 8:03am Jul 27, 2012 8:03am
MT4 works fine now ....Re-connected with a gap and missin candles ... No problem with java platform
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