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OANDA Discussion

  • #3,681
  • Oct 21, 2013 8:22pm Oct 21, 2013 8:22pm
Quoting Kanzler
I've never made a complaint about a broker before now. Let me first say that I'm quite an experienced trader by this point and am definitely no dummy when it comes to how this works, so I hope your company doesn't decide to blow me off. I'm bringing this to the forum due to unsatisfactory answers received by representatives through your official communications line. I'm not the next newbie to come here and accuse the brokers of all being in on it to screw us all over, but at this point I'm a little irate. Like many of the previous posts, this has...
try mbt
  • #3,682
  • Edited 6:59pm Oct 23, 2013 6:08pm | Edited 6:59pm
Anyone recommend a good broker in the US that doesn't widen spread on news time? I'm about to drop Oanda. 20+ pip spreads on GBPUSD during news is just ridiculous.
  • #3,683
  • Oct 23, 2013 8:14pm Oct 23, 2013 8:14pm
Quoting myelbow4
Anyone recommend a good broker in the US that doesn't widen spread on news time? I'm about to drop Oanda. 20+ pip spreads on GBPUSD during news is just ridiculous.
try Mb Trading
  • #3,684
  • Oct 23, 2013 10:57pm Oct 23, 2013 10:57pm
Quoting NJaNeer
{quote} N/P You may like Oanda, It sure seems like other people around here think they are amazing. I personally don't see anyone making money with them unless they are a swing/position trader that holds trades for days. Remember that Oanda makes money when you lose, if they are raising spreads as price spikes you don't have a chance. Stop losses are now Oanda's bread and butter, free money for them. If you can trade without tight stops, like over 150 pips, you should be good to go! Good Luck!
Well they say they hedge their net exposure to their clients positions so theoretically they are not trading against their clients. Stop-losses of 150 pips is like no stop-losses to me.

Thanks for sharing! Will be careful with them.
Make your losses in demo. Earn your profits live.
  • #3,685
  • Oct 23, 2013 11:07pm Oct 23, 2013 11:07pm
Quoting myelbow4
Anyone recommend a good broker in the US that doesn't widen spread on news time? I'm about to drop Oanda. 20+ pip spreads on GBPUSD during news is just ridiculous.
ALL brokers raise spreads during news or other volatile times or even at weekend closing. Usually you will find TRUE ECN brokers raise less but I had Interactive Broker which is an ECN broker putting a 20+ pips spread on the aussie and the kiwi on me at the Friday Oct. 4 closing, the same spread as Oanda. I had the price feed from the two brokers side by side and checked. Lost myself 10+ pips on otherwise profitable positions. They will always say it's due to liquidity, maybe yes, maybe no, we, little retail traders will just never know.
Make your losses in demo. Earn your profits live.
  • #3,686
  • Oct 29, 2013 10:25pm Oct 29, 2013 10:25pm
a newbie question, what are the rollover rates based on for cfd? b/c some of the cfd's interest rates are extremely high (eg natural gas at the moment) so i wonder what are the rational with these extremely level. thx
  • #3,687
  • Nov 2, 2013 3:41pm Nov 2, 2013 3:41pm
I would like to add Oanda to my account aggregation lists at Personal Capital and/or Mint. They have several other fx institutions but not Oanda for some reason. I have been told by technical support at Personal Capital that they need a critical number of requests (exact number was not disclosed to me) before they will attempt to add it to their access list. If anyone here uses Personal Capital or Mint and would like to see their Oanda account on those sites for a more complete picture of their finances please considering making an add request to one or both services.
  • #3,688
  • Nov 7, 2013 12:34am Nov 7, 2013 12:34am
Quoting feeel
a newbie question, what are the rollover rates based on for cfd? b/c some of the cfd's interest rates are extremely high (eg natural gas at the moment) so i wonder what are the rational with these extremely level. thx
They use a present value model . so they PV the next or far contract and at maturity of the near to = their theoretical cash price ( which should = or be close the the expiring near contract . so that at contract maturity you do not have to roll the calender spread.
this is a better explanation of the PV model . http://marketindex.rbs.com/uk/Markets/RIS#RIS-Nasdaq100
  • #3,689
  • Nov 10, 2013 4:38pm Nov 10, 2013 4:38pm
i heard tons of good things about Oanda, but the problem is though my credit and income is very good, they wont let me fund my account with more than half of what i want to
  • #3,690
  • Dec 5, 2013 2:02am Dec 5, 2013 2:02am
Is there any chance of OCO-orders in the near future?

Would make trading a lot more comfortable.
  • #3,691
  • Dec 6, 2013 6:32pm Dec 6, 2013 6:32pm
I have a doubt, this Friday my NAV has fallen lower than my MCV when the market closed.

Should I wait to see how things develop early Sunday (since Oanda starts trading some 2 hours after the market opens)? Or just close some positions during weekend to manage to put my NAV above my MCV?
  • #3,692
  • Dec 10, 2013 5:45am Dec 10, 2013 5:45am
Can someone with an Oanda account comfirm that MT4 server times have now changed to NY close?

I noticed on Myfxbook Oanda's broker time as per example below is the same as other NY close brokers ie Pepperstone.
Attached Image
  • #3,693
  • Dec 12, 2013 9:40am Dec 12, 2013 9:40am
just opened a trade on OANDA and they validated my trade about 30 pips away from where I placed my trade. That is terrible, given that i'm scalping. and the worst thing is that the market further went down about 10 pips. so i end up loosing about 40 pips. This is the 3rd time this is happening to me.

Please someone help me recommend a better broker for scalpers.
  • #3,694
  • Dec 21, 2013 4:10am Dec 21, 2013 4:10am
A very worrying thing happened on the Fed statement on Wed 18/12/13.
These were Oandas spreads at the beginning of the Feds statement:

GBP/NZD 122.2
GBP/AUD 64.5
EUR/NZD 50.0
AUD/CHF 31.2
AUD/CAD 30.0
CAD/CHF 25.9

Now, if they're free to do something like this on a news event unconnected to the currencies involved, what is to stop them doing it at ANY time in the future, or for that matter, on any individual platform.
This has worried me enough to start looking at other brokers but its difficult to know who to choose.
I'm just not prepared to keep all my eggs in this particular basket.
Where price is now, it has been before, and will be again.
  • #3,695
  • Dec 25, 2013 11:52am Dec 25, 2013 11:52am
Does anyone know when the new RESTFul API will be released to the live clients? Thanks.
  • #3,696
  • Dec 25, 2013 2:30pm Dec 25, 2013 2:30pm
Quoting Jenx
A very worrying thing happened on the Fed statement on Wed 18/12/13. These were Oandas spreads at the beginning of the Feds statement: GBP/NZD 122.2 GBP/AUD 64.5 EUR/NZD 50.0 AUD/CHF 31.2 AUD/CAD 30.0 CAD/CHF 25.9 Now, if they're free to do something like this on a news event unconnected to the currencies involved, what is to stop them doing it at ANY time in the future, or for that matter, on any individual platform. This has worried me enough to start looking at other brokers but its difficult to know who to choose. I'm just not prepared to keep...
This was the final straw for me as well. Cable jumped 20 points on the announcement, despite me nailing the trade and having over 15 points of room above the highest price it reached, I was knocked out. If I hadn't been screwed on that my trade would have run 3x my entry on it before coming back. Even though I would have ended up at break-even as later price action was more indecisive, the fact that I nailed the call and still got screwed by the broker for a full loss is infuriating. I took up a competing broker's offer for a free $50 live account to test their spreads, which I'm in the process of doing. Even though they have higher spreads in general I'm completely willing to accept that if it means not having to deal with Oanda's nasty surprises. It's genuinely their loss as I know how to make money in these markets and they're going to miss out on having me as a permanent source of revenue.

For illustrative purposes, the attached image demonstrates the royal screwing I received. The top line of the rectangle is the stop-loss (3 points added for spread not shown) and the bottom line is my entry. Can you believe this trade ended in a loss because of the spread spike? Absolutely un-fucking believable, and not the first time this broker has had me forcibly bent over. There's absolutely no excuse for this kind of shoddy, miserable service. If customer service is reading this, please save your liquidity spiel for someone else. Because if that's really your excuse, you need better providers. Oanda has gone down the toilet as a broker.
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  • #3,697
  • Dec 25, 2013 2:39pm Dec 25, 2013 2:39pm
40 pips spread with Oanda, the other week, I redraw all the money and reported them to the appropriate body…. Robbers...
Wherever you go, there you are.
  • #3,698
  • Dec 25, 2013 3:11pm Dec 25, 2013 3:11pm
I'm waiting for the Oanda fan boys to come in here and tell everyone news spikes are normal. Thanks to our government , they have created a monopoly with fx brokers.
  • #3,699
  • Dec 25, 2013 6:33pm Dec 25, 2013 6:33pm
Guys i am watching usdjpy pair and only oanda is moving. It isn't moving on fxpro and TOS. Why is it moving on oanda? Why are some brokers closed and some open?
  • #3,700
  • Dec 25, 2013 8:20pm Dec 25, 2013 8:20pm
Quoting forex_fairy
Guys i am watching usdjpy pair and only oanda is moving. It isn't moving on fxpro and TOS. Why is it moving on oanda? Why are some brokers closed and some open?
Because some don't like Christmas. Really take the day off...tonight and really through new years' is a waste of time trying to do anything.
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