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OANDA Discussion

The Oanda servers are located in a datacenter in Chicago, regardless if you are with Oanda Europe, Singapore or USA. Latency will vary, obviously.
Quoting shrike
The Oanda servers are located in a datacenter in Chicago, regardless if you are with Oanda Europe, Singapore or USA. Latency will vary, obviously.
OK, but they have different regulators(USA-NFA, Europe-FSA), which i assume will have an impact on trading/withdrawals/making profits... Thats why i wanna hear opinions from those who traded with OANDA Europe...
I have been with both the USA branch and subsequently got transfered to Europe when they established their London office, there was no difference. Except that wire transfers got cheaper, since banks don't charge a fee for wires inside the EU.
Any news when will the CFDs be offered for Oanda-Asia ?
oanda mt4 is not reliable. the candle sticks are different from others,

take a look at the same daily charts, its gives different values when you input the weekly pivot indicators.top is correct, bottom is from oanda,
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Hi Tanko,

FXDD and Oanda use different GMT start times for their daily candles. You can't compare the two.

Fizz
there are 24 different ways to draw daily charts ...
Quoting shrike
The Oanda servers are located in a datacenter in Chicago, regardless if you are with Oanda Europe, Singapore or USA. Latency will vary, obviously.
slippage is timezone / liquidity dependant in eur/usd which I trade ... overall good, but used to be better for me since I don't trade the news ...
Quoting tony95
My experience with Oanda has been very good. I was trading the MB Trading FreeEXN and I trade at night when things are slow and did not have much of a problem for a while. However, when any kind volatility would kick up I would get massive slippage at MBT. I had both a MBT and a Oanda account but was using MBT because the spread was a little better in the EURUSD. Well, a slightly better spread doesn't mean much when your getting slipped 5, 10, 15 pips on your trades. So, I started using my Oanda account and the other day a news event caused a major...
I can't see how scalpers taking small TP's can like Oanda and what about the trading against accounts, and the spikes and sl hunting (those are the assertions) and Oanda doesn't come out and defend. Maybe their getting anti scalper. I trade with MBT EXN, the London NY Market so slippage is not much of a worry. Saving trading costs and not worrying about this other stuff. Where am I wrong??
I am with oanda for over 10 years now: I can assure you they are not hunting stops or trading against accounts, the only spikes you can get are during news (and if you don't know when that is, that's your own fault). Oanda is pretty good, for me it used to be slightly better six months ago though ... I am looking into alternatives but so far haven't found anything decent ... I am considering Dukascopy and Alpari UK (ECN-version) as best possible alternatives though ... but haven't moved thus far ... all the rest out there is not really worth the trouble to move to imo.
Quoting cvds16
I am with oanda for over 10 years now: I can assure you they are not hunting stops or trading against accounts, the only spikes you can get are during news (and if you don't know when that is, that's your own fault). Oanda is pretty good, for me it used to be slightly better six months ago though ... I am looking into alternatives but so far haven't found anything decent ... I am considering Dukascopy and Alpari UK (ECN-version) as best possible alternatives though ... but haven't moved thus far ... all the rest out there is not really worth the...
Statements like you just made about being assured is to be questioned then.
How do you know? Are the past gripes coming from losing accounts? I moved
but kept account open just in case I want to come back. MBT for example is
not easy to do business with. Difficult setting up deposits and
withdrawals, and using their desktops. I use MT4 for it's simplicity there.
I get good fills, the slippage is not a problem, spikes and fees are much
more dependable than Oanda's. I am strictly talking London NY Market time.
Oanda gets many more beginners than other more complicated, stricter Houses
plus an account can be opened for a buck,. I would like to be told the
advantages of being with Oanda as opposed to MBT. Thanks.
Well I demotraded more than a few things. In my opinion MBT's interface totally sucks compared to fxtrade. I am in a group of traders daily in chat, we often compare our stuff. We all think MBT's interface sucks ... so I am not alone ... I used to have an account at IB too, traded there for a long time too, but in the end moved on after I had a few times of horror-slippage on stops. Like someone posted here above, slippage on oanda on stops is extremely rare and if so it's something like 0.2 pips ... not really worth talking about ... doubt you can say the same of MBT's ECN ...
untill 6 months ago, over half of the people in our group (we are 12) clearly thought Oanda was clearly the superior place to be. The few that didn't really think so traded at IB, one at Alpari UK. All these people are trading over 8 hours a day, doing mainly scalping and intradayswingtrading. So yes, I think people complaining about Oanda are just mainly people that would have lost money at any place ... Things changed slightly with the new 'flexible spreads', not exactly to the liking of our group ...
Quoting cvds16
untill 6 months ago, over half of the people in our group (we are 12) clearly thought Oanda was clearly the superior place to be. The few that didn't really think so traded at IB, one at Alpari UK. All these people are trading over 8 hours a day, doing mainly scalping and intradayswingtrading. So yes, I think people complaining about Oanda are just mainly people that would have lost money at any place ... Things changed slightly with the new 'flexible spreads', not exactly to the liking of our group ...
I trade from 4am till 12pm est. Those of us trading for small gains are held hostage to the costs. Of course these are more costs for one to achieve a break even or gain with Oanda. I hold allegiance to no one but the best deal and good product. If MBT has an average of 1.1 pips cost EXN and Oanda is running around >1.5 I'd be crazy to pay more and also suffer through the spikes from nowhere and whatever else they do taking on my trades into their own little pool of $$. I do 8 trades per day, 1 per hour. I want every tenth of a cent I can get. As far as the platforms are concerned they are difficult to say the least. I use their MT4 and it works very well. I preferred FXTrade but Oanda is getting growing pains at the expense of their accounts. I was dealing with the news, spikes etc., but the variable spread was the straw that motivated me to look elsewhere. The nice cozy Company has growing pains. I dare say a quarter of Oanda's accounts couldn't get an account at MBT. It's not what they say People friendly. Not burning any bridges, just wanting the biggest bang for the buck.
yes, six months ago, we saw occasionaly 0.8 spreads, more common was 1 to 1.2 spread ... combined with the hard stops that made Oanda the best place to trade in my opinion. I must admit I doubt that is the case anymore. I doubt at the same time that MBT is the best place to look for an alternative ...
I bow to the wisdom of trading Seniority and will keep an eye on this Forum for a better deal. I would pay more for less if all the criteria made sense.
Had been trading with Oanda for quite sometime, honestly I felt Fxtrade are much better than Oanda MT4. Missing candles, different daily candles, but if you trade small time frame, then that wont be much an issue on MT4.

As for stop hunting, I still believe most retail or market maker do occasionally. If u trade all day, you will realise spreads spikes ridiculously to hit your stop. Sometimes if you realised your SL was hit yet the candles had nv cross it, called them, and they will explain to you to add overlay of High/Low Bid/Ask to show how it was triggered.

Believe in your system, use a mental stop rather a SL, you may see the difference, especially for scalpers.

I hate them hunting my beers.
The only winner is the one who survive the longest...
I am not happy with that, but I have to leave Oanda now.
Since they have their variable spreads it is not possible to place an order exactly without a trade through or first touch order additionally.
Also the spread in EUR/USD is worse than before.
Correct me if I'm wrong but ECN's do not trade against or stop hunt. The trade goes directly to larger banks. A company like Oanda does have a pool of money and can, not saying they do, can trade against accounts if they so choose. Don't know if that's ethical or not. I have peace of mind about that now. There's enough to worry about without wondering about peculiarities. Forums are a shaky place for lots of info because one never knows what is correct or not without documentation.
^^^ Are you saying that Oanda are a ECN broker and not a Market Maker? I might not be understanding what you are saying but on their site they say they are a Market Maker.

http://www.oanda.com/corp/

"OANDA is a market maker and a trusted source for currency data"
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