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OANDA Discussion

Quoting Anotan
{quote} Oanda changed their FIFO rules for US residents. Basically you can't have multiple orders that are the same lots size with TP or stop losses on them. If you want multiple orders with the same lot size then you have to remove the TP and the SL on all orders, or if you want to keep your TPs and SLs intact then any additional orders must be a different lot size.
Yeah, it is very annoying... this FIFO warning everywhere... at this rate man... I won't be able to place any trade soon, before going to the "pilots checklist"...
It's crazy... OANDA is still good for some (increasingly) narowing segment of trade (sizes)... Since it does still (I think) have some rather good reputation..
Might be good for some AUM, conservative profit earning account... But not good for many (high stakes) strategies anymore... I will still keep it though, at least for now... But I must say that... I was very reluctant to switch broker.. but now that I have tried some other ones also... I feel like I started breathing again I might park some money/profits at Oanda, but will be watching it closely...

BTW do you know what I somewhat resent... I was notified by some other (big) broker about upcoming regulations, before they happened... Asked Oanda if they knew anything about it.. They knew nothing... or at least fake "calmed me" and then the regulations came as a shock... That Is why I am keeping some very big/famous broker.. keeping Oanda for their charts, reliability and hah... funny.. regulations (because for bigger size money, it is better to have regulated broker but will be playing/testing... for some/many strategies.. at other brokers that don't bother with anything at all... Oanda would be great if they would also have some ALTERNATIVE divison.. in Asia or somewhere exotic... which much less regulation.. But I guess they are not allowed that or not want to?
Can you afford to take that chance?
Quoting auricforecas
{quote} Yeah, it is very annoying... this FIFO warning everywhere... at this rate man... I won't be able to place any trade soon, before going to the "pilots checklist"... It's crazy... OANDA is still good for some (increasingly) narowing segment of trade (sizes)... Since it does still (I think) have some rather good reputation.. Might be good for some AUM, conservative profit earning account... But not good for many (high stakes) strategies anymore... I will still keep it though, at least for now... But I must say that... I was very reluctant to...
Oanda did make it to where you can close out trades without FIFO rule, its just you can't place SL/TP on them, which IMO isn't worth it.

I feel like we are slowly being pushed out of forex and into futures, especially since the micro futures were introduce. AMP is offering 150:1 leverage on futures while we are capped at 50:1 in forex.
If all you have is a hammer, everything looks like a nail.
Quoting Anotan
{quote} Oanda did make it to where you can close out trades without FIFO rule, its just you can't place SL/TP on them, which IMO isn't worth it. I feel like we are slowly being pushed out of forex and into futures, especially since the micro futures were introduce. AMP is offering 150:1 leverage on futures while we are capped at 50:1 in forex.
You know man, that is a very good point! I checked a little and you might not be far off! Some say ever worse btw.. that we might be pushed out of if completely/eventually.. due to "old money" prefer things to go old way, when only rich(er) could "trade".. specially now that losing % dropped a little, as one poster pointed it out... the warning is in the 7X% figure atm.. at broker.. Like 7X% lose money, it was like 8X% or 9X% Before?

I am not sure if Oanda does not want to serve the other markets or was pressed by the regulators that they should now provide alternative solution/branch anywhere...
Also... Do anyone know, I suspect or would be suprised if it doesn't exist.. some other products by Oanda that is not branded with Oanda.. Like from car industry... when cars make sub-brands to serve "lower" market/segment... but with "good parts" behind Does Oanda have some sub-brand somwhere in Bahamas etc?

Btw.. not sure about their market strategy/position but at least in my case, It might market itself out of position because.. for my smaller accounts, specially "burners"... some brokers, unregulated or much less regulated... are much much better.... Asian/Exotic ones... But with REAL money... I would be looking at different brokers, more towards interbank... So there might be in the market I would skip.. on the current trajectory.. Unless they will at least stop with current regulations or adding the rules trend....

Will use them for now, just not sure how much longer... Currently their edge is fxtrade that I am used to, zero problems with withdrawals/deposits.. as of yet.. and reputation (haven't checked the last time for some time now, but I noticed some changes in recent years, management/strategy switch?)
Can you afford to take that chance?
Is it possible to get gold XAUUSD added to my current forex account or do I have to have another account?
ex nihilo
Quoting Oc6oph
Is it possible to get gold XAUUSD added to my current forex account or do I have to have another account?
I second that... I can not seem to find it.... just basic FX pairs... Also there were some gold regulation (leverage limit) in the past, in US anyway...
I use different brokers for gold or crpyto... No drama to open (and first FIND the pair in the symbols and also much better leverage, if you need it...

Would love to get the answer where to find XAUUSD, maybe even XAUEUR! and BTCUSD, BTCEUR even
Can you afford to take that chance?
Quoting Modris
{quote} Started to trade with Oanda a few month ago. Not a single loosing trade so far. Withdrawed 6 % profit with no problem. So far so good. They say it is fine because they hedge my positions. At the start they connected me to some girl in customer service, it was impossible to communicate with her, had to spell my country in english several times and she still did't understand. Now have other agent Georgi to communicate with and everything is fine.
This is my quote from another thread half year ago about Oanda.

So my feedback so far:
Bad:
1. During the important news spread can go up to 100 pips, so you either loose a lot or don't make any money trading news;
2. Need to pay 20EUR withdrawal fee, if money is withdrawn via bank;
3. They are messing with price at the end of every day, so the daily candles give wrong information, like fake gaps;
4. They change swap rates, when trend is changing for example natural gas.
5. Swap rates are unbalanced (positive/negative for the same instrument = +1/-12);
Good:
1.No problems with withdrawal times;
2.Many instruments to trade;
3. Energy instruments has 0.01 lot trades available;
4. Desktop application.
Broker is not very attractive.
Toxic Trader
That €20 withdrawal fee is kind of steep. Did they ever say why it was that high?
Quoting Upchurch
That €20 withdrawal fee is kind of steep. Did they ever say why it was that high?
For bank service
Toxic Trader
i went ahead and trying opening up an account and realized that they're not taking us people from alberta canada.
Whatever is happening right now has happened before and will happen again.
Quoting mnmnmmnnmnmn
i went ahead and trying opening up an account and realized that they're not taking us people from alberta canada.
What's wrong with Alberta?
Quoting Upchurch
That €20 withdrawal fee is kind of steep. Did they ever say why it was that high?
The old way of issuing a cheque was free
[quote=Modris;12512389]{quote} 5. Swap rates are unbalanced (positive/negative for the same instrument = +1/-12);

You should be glad for to have these swaps the majority of brokers offer only negative swaps no matter what the trading instrument is.
Quoting Oc6oph
Is it possible to get gold XAUUSD added to my current forex account or do I have to have another account?
US brokers cannot offer metals because of a stupid NFA rule.
[quote=Hutch;12518680]
Quoting Modris
{quote} 5. Swap rates are unbalanced (positive/negative for the same instrument = +1/-12); You should be glad for to have these swaps the majority of brokers offer only negative swaps no matter what the trading instrument is.
True
Toxic Trader
Quoting Hutch
{quote} What's wrong with Alberta?
I have no idea. half way through the application, it told me that Albertans are not allowed to have an account with them.
Whatever is happening right now has happened before and will happen again.
Does OANDA offer welcome bonus?
Oanda accept skrill deposits?
Maybe NO
I guess OANDA won´t like this too much:

https://www.leaprate.com/experts/nat...rts28-reports/
Quoting cuchuflito
I guess OANDA won´t like this too much: https://www.leaprate.com/experts/nat...rts28-reports/
Yep, it will be interesting to see how the money flows. Sadly, Oanda Europe is based in London, so there is little chance for it to be affected.
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