FXTrade-Oanda: Are you satisfied with their platform? @ Forex Factory

Nerva · #1 Apr 28, 2007 4:02pm

To those of you that are currently using Oanda or have used them in the past, how was your experience? Did they treat you fairly?

Minnelli · #2 Apr 30, 2007 9:53am

I used them for the last few years to test some systems out in real time, with real money - but without the risk of losing a ton of cash. The interface is very good, in my opinion. It works at work and at home without installing any software. You can use very small lots to test or get your feet wet. My systems were based on price and not necessarily signals so I can't speak to indicators. I did FEEL that a lot of my stops got picked off - but other systems showed the market did move that far. It's just the feeling of they are after me

Interest is okay but the swaps aren't up to someone like FXDD if you are looking at carry trades. PayPal deposits were charge like 2.9%.

WHTenn · #3 May 3, 2007 3:12pm

Minnelli

You may want to remove link attached to bottom of posting...sorry

kharvell · #4 May 3, 2007 4:24pm

I've used Oanda for about a year now, and my experience with them has been a good one.

They are honest with their spreads, quick to execute orders, and offer the ability to create sub-accounts. This is a new feature that I have enjoyed because it allows me to hedge if I would like.

The negatives of Oanda are their limited tools on their charting platform. However, it basically has what you really need, unless you get really technical with custom indicators. Oanda raises their spreads over weekends, and lowers them pretty late on Sunday (central US here) and this could be a good or bad thing depending on where you are located.

Hope this helps,

Kevin

james275 · #5 May 4, 2007 1:54am

can't use them as i need to have the ability to place stop orders in the market. I absolutely don't understand why they don't have this capability.

Jarret · #6 May 4, 2007 3:38am

Been with them for 6 months.

Low spreads...good

No trailing stops...bad.

Money withdrawal, no worries and always fast.

I tried news trading with them...once.

I say that they are a good broker

dsl258639 · #7 May 4, 2007 3:55pm

Quote:

can't use them as i need to have the ability to place stop orders in the market. I absolutely don't understand why they don't have this capability.

I'm confused. You can place stop orders.

Mr demark · #8 May 4, 2007 4:18pm

oanda = perfect for scalping on HIGH leverage...

(50:1 is high right?)

mrgreen · #9 May 4, 2007 5:14pm

What Oanda has is actually a Stop Limit Order, as defined by wikipedia as:

Quote:

A stop-limit order combines the features of a stop order and a limit order. Once the stop price is reached, the stop-limit order becomes a limit order to buy (or to sell) at no more (or less) than a specified price.[5] As with all limit orders, a stop-limit order may not get filled if the security's price never reaches the specified limit price.

You can use the 'bounds' feature to theoretically fill at any price above or below your "limit Price" effectively creating a standard 'Stop Order". I haven't played with it in a fast moving market but I think it would fill if you set the bounds low or high enough. That can be good or bad.

Quote:

Originally Posted by dsl258639

I'm confused. You can place stop orders.

tunera · #10 Dec 8, 2007 12:29pm

Hi, do u know if there is a method to let the oanda chart (let's say 5 minute chart) show more data then what it show now? (let's say 1 month of data)?

Longboat · #11 Dec 8, 2007 12:40pm

I am very happy with Oanda. The best part is their spreads which I have found to be the best. They do expand a lot at news events, but I don't trade around news releases so I don't really care.
The charts are not very good and they do not have a 4 hour chart which I don't like. I use Oanda for my trades and mostly Tradestation, North Finance and FXDD for my charts.

Good luck,
Rob
Longboat

johnedoe · #12 Dec 8, 2007 6:38pm

I have been with Oanda about three years......no complaints here.
there was one incident about a year ago but all was resolved.

Nagen · #13 Dec 8, 2007 8:34pm

I don't have like that much experience with oanda but I have live account for almost three months with them, I am satisfied so far, smallest spread some times half pips no commissions I can't believe it, you can put buy/sell order anytime and very honest only thing is they don't have Trailing stop.

I just closed with efx and moved to oanda and I am looking for a Swiss broker for second.

I hope it helps

Nagen