OANDA stands by its clients

Yes, so far Oanda has treated me fairly on my CHF trades (both yesterday as well as previous "incident" past week). I can testify to that.

Bravo oanda!!!!

I second that... Bravo

well done,so basically they are bailing out the retail investors,i thought that was the point of a guaranteed stop loss,you knew no matter what happened you knew your maximum loss.

Hey Hareii,

how much slippage did you incur on CHF trades yesterday?

Cant say anything bad about Oanda either. Thumbs up!

About 600 pips slippages on CHF. But its a Take Profit slippage which means I earn 600 pips more than my Take Profit. I just happen to be on the right side of the market. I am heartened that they offer slippages on Take Profit too besides on Stop Loss which forms the basis of my opinion that they have treated us FAIRLY. I bet you other brokers will eat you on Take Profit without slippages (not going to name that broker).

Due to the CHF moves, I incur losses on other currency pair trades. For those Stop Losses, I did not incur any slippages.

Back in the day, when I was a newbie trader, there was a gigantic spike in the market. I forget the details, but Oanda's software program didn't honor my stop loss settings. I lost hundreds of pips due to what they called volatility that prevented their software from performing correctly. Their contract gives them an 'out' on software glitches so they are not responsible for losses like this due to "slippage".

I've never understood why they are able to widen the spread automatically, but cannot execute trade instructions on current trades electronically at the speed of light.

Since 'slippage' can still occur, I don't see how you can prevent disastrous losses if extraordinary and unanticipated moves occur in the market.

I've considered removing stop losses and pile in enough money in those trade accounts to withstand any margin calls until sanity comes back into the market. Quite a gamble, eh?

more reason to stay with a respected broker!

Leverage is the true killer, not the volatility of the currencies. This point is lost on a lot of retail traders and some brokers have 'forgotten' about it after a while operating in "normal" market.

Hareii just hit the nail on the head. US brokers fought the CFTC when they wanted to reduce max leverage to 10:1. As they look at these deep losses right now I wonder how that 50:1 victory is feeling?

No matter how bad of a day any of you may have had, this just goes to show someone always has it worse than you. Just imagine owning this company.




http://www.alpari.com/


Important announcement

Submitted on Fri, 16/01/2015 - 12:00;

The recent move on the Swiss franc caused by the Swiss National Bank’s unexpected policy reversal of capping the Swiss franc against the euro has resulted in exceptional volatility and extreme lack of liquidity. This has resulted in the majority of clients sustaining losses which has exceeded their account equity. Where a client cannot cover this loss, it is passed on to us. This has forced Alpari (UK) Limited to confirm today, 16/01/15, that it has entered into insolvency. Retail client funds continue to be segregated in accordance with FCA rules.