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  • #4,321
  • Mar 24, 2015 7:01am Mar 24, 2015 7:01am
I use a few brokers and oanda is one of them.
All of them are regulated and all of them are good and bad for different reasons, I adapt to them.
I choose not to chase the bad "guys" in a game that is bigger then me... but use what they offer at my advantage, controlling the risk.
A bit like in trading... no point to blame the broker in this case, you all saw the disclaimer.

I keep long term position on oanda, don't get damaged by the spread, and I take advantage of some of the good things like not expiry and quick and flexible position sizing on multiple trades....
If I need low spread, or mt4... or the news trade.. I use another broker, easy, no stress.
It is not always bad to trade through a market maker. Nobody is forced towards unregulated brokers.
  • #4,322
  • Mar 24, 2015 7:26am Mar 24, 2015 7:26am
Quoting Naokia980
Was Oanda honored stops on black swan event? who had long trade on eur/chf or usd/chf?was there any slippage or negative balance on fla$h crash?

I have a live account with Oanda. I had a long order on USD/CHF that I had just opened on 1/14. Before I went to bed that night I had set my SL to a few pips above BE. At 4.30 EST my order was hit: SL was at 1.01717, Executed at 1.01707

Not suggesting that Oanda is a good broker or that I am promoting them in any way, but we here in the US are very limited. I think long term and swing trading is okay with them. Not for scalping.
  • #4,323
  • Mar 24, 2015 8:26am Mar 24, 2015 8:26am
I live in the US and was thinking about considering Oanda for a live account. I am going to pass on this broker. What a cluster fuck.
  • #4,324
  • Mar 24, 2015 1:11pm Mar 24, 2015 1:11pm
Quoting Gela
{quote} I have a live account with Oanda. I had a long order on USD/CHF that I had just opened on 1/14. Before I went to bed that night I had set my SL to a few pips above BE. At 4.30 EST my order was hit: SL was at 1.01717, Executed at 1.01707 Not suggesting that Oanda is a good broker or that I am promoting them in any way, but we here in the US are very limited. I think long term and swing trading is okay with them. Not for scalping.
Less slippage is good indicator when choose brokers especially market volatility goes crazy. if you have same position on other ecn,stp or whatever kind of matching orders system you will lose your account. I prefer to pay more spread instead of slippage cause any unpredictible event can damage your balance. Only mm's can save us(like Oanda). Period..
  • #4,325
  • Mar 24, 2015 2:37pm Mar 24, 2015 2:37pm
I am in US and having a very hard time finding a broker to replace oanada. just cant find one
  • #4,326
  • Mar 26, 2015 2:37pm Mar 26, 2015 2:37pm
Are there any traders who are actually satisfied with Oanda?
I am mostly a manual trader.
If you have problems, do you have problems with widening spreads particularly on sell orders?
  • #4,327
  • Mar 26, 2015 3:32pm Mar 26, 2015 3:32pm
Quoting PipShot
Are there any traders who are actually satisfied with Oanda? I am mostly a maswing trader nual trader. If you have problems, do you have problems with widening spreads particularly on sell orders?
over the 1 year no problem.. But spreads really sucks. If you are swing or long term trader Oanda Is best.. On chf event they performed very well and imo trader need something like that this kind of events willnot destroy his balance. It is up to you..
  • #4,328
  • Mar 26, 2015 4:02pm Mar 26, 2015 4:02pm
Quoting Naokia980
{quote} over the 1 year no problem.. If you are swing or long term trader Oanda Is best..
I'm with Oanda since 2012 or so, and only longer trades, manual, swing, no scalping, testing new strategies - no problems at all.
  • #4,329
  • Mar 27, 2015 8:30am Mar 27, 2015 8:30am
Been with OANDA for 5 years. No problems, happy with them as my main broker - also longer trades with a bit of scalping on the side.
  • #4,330
  • Mar 27, 2015 10:10am Mar 27, 2015 10:10am
Quoting FX4ever
Been with OANDA for 5 years. No problems, happy with them as my main broker - also longer trades with a bit of scalping on the side.
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  • #4,331
  • Mar 27, 2015 12:01pm Mar 27, 2015 12:01pm
Here's another one
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  • #4,332
  • Mar 27, 2015 12:43pm Mar 27, 2015 12:43pm
Spiboy has been on the Oanda forum since forever, he is for real.
  • #4,333
  • Mar 31, 2015 4:04am Mar 31, 2015 4:04am
Quoting Gela
{quote} I have a live account with Oanda. I had a long order on USD/CHF that I had just opened on 1/14. Before I went to bed that night I had set my SL to a few pips above BE. At 4.30 EST my order was hit: SL was at 1.01717, Executed at 1.01707 Not suggesting that Oanda is a good broker or that I am promoting them in any way, but we here in the US are very limited. I think long term and swing trading is okay with them. Not for scalping.
what is the big disadvantage using Oanda for scalping? I'm a new US trader just looking for a broker, trying to sort through the horror stories and etc, it's been very difficult.
  • #4,334
  • Mar 31, 2015 7:27am Mar 31, 2015 7:27am
OANDA is a good broker in terms of ability to deposit funds quickly. Ability to withdraw funds quickly and excellent support.

They do widen their spreads quite a bit during big news like NFP or FOMC statements and rate decisions, naturally as most brokers do, but OANDA spreads become as large as 30 pips in some cases... So depending on what your are trading and how you are trading and your trading style you may thinks this is a big deal (if you scalp a few pips on each trade) or you may just shrug it off as a consequence of all trading (if you are a swing trader with 100+ pips as targets. My opinion is that you just dont trade on small SL or TP during news, and just be prepared for a the widening of spreads.

I do not have any problems with OANDA at all and been with them for a very long time. However, I do notice the large spreads during news.

A BIG plus for OANDA is their no commission and small spread during normal hours. I currently trade oil and I get average 3 pips, which you do not get anywhere else with any other broker.
  • #4,335
  • Mar 31, 2015 7:51am Mar 31, 2015 7:51am
Quoting JustUsePrice
OANDA is a good broker in terms of ability to deposit funds quickly. Ability to withdraw funds quickly and excellent support. They do widen their spreads quite a bit during big news like NFP or FOMC statements and rate decisions, naturally as most brokers do, but OANDA spreads become as large as 30 pips in some cases... So depending on what your are trading and how you are trading and your trading style you may thinks this is a big deal (if you scalp a few pips on each trade) or you may just shrug it off as a consequence of all trading (if you are...
Agree "been with them for a very long time"? How many years are you with Oanda? Any problem exceed spread widening?
  • #4,336
  • Mar 31, 2015 9:44am Mar 31, 2015 9:44am
Quoting Naokia980
{quote} {image}

Trying to say something here?
MY SITTING, NEVER MY THINKING!
  • #4,337
  • Mar 31, 2015 9:45am Mar 31, 2015 9:45am
Quoting bobbyspider
{quote} what is the big disadvantage using Oanda for scalping? I'm a new US trader just looking for a broker, trying to sort through the horror stories and etc, it's been very difficult.
As other may have said. The spread is the main issue for scalpers using oanda.
MY SITTING, NEVER MY THINKING!
  • #4,338
  • Mar 31, 2015 10:05am Mar 31, 2015 10:05am
There is another feature that I don't like with Oanda. It's called "Boundary Violation". It happens for instance on pending orders when your stop loss exceeds the widening spread. That is done to protect the trader from simultaneously hitting an order and SL at the same time but it also means certain system wont work. I tested a daily breakout strategy that relied on very tight and accurate entries and stop losses and take profits. Traders with Oanda had the BV rejection happen all the time while traders with other brokers had their orders usually executed.

I can not complain too much about Oanda though. I am a long term swing trader. Their deposits and withdrawals are very good and their costumer service is also very responsive. There are two platforms, FXtrade and MT4. On Fxtrade you can sart trading with 1 currency unit (1 USD). MT4 allows the smallest lot size of 0.01.

I have observed spikes and slips when scalping and it seems some of the tighter stops definitely get "hunted".

Good Luck!
  • #4,339
  • Mar 31, 2015 10:19am Mar 31, 2015 10:19am
Any of you having Oanda down? I cant seems to access their website, and I try to ping their domain:

Request timed out.
Request timed out.
Request timed out.
Request timed out.
The only winner is the one who survive the longest...
  • #4,340
  • Edited 1:23pm Mar 31, 2015 1:09pm | Edited 1:23pm
Interesting action..'
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