Better be careful before clicking orders away...wonder if it applies to the desktop app.

Oanda GM Discussion 0 replies
Oanda users - Oanda widening spreads 62 replies
Oanda order filling discussion 6 replies
OANDA Canada vs OANDA Corp. 4 replies
Euro/Dollar discussion 9 replies
DislikedDid u get this? Beginning after trading closes on Friday, 14 May 2021 we are making changes to our minimum trade sizes for index CFDs. This change will impact your index CFD trading across all our platforms: Impacts to fxTrade platforms (mobile, web, desktop and API): We will allow a minimum trade size and increments of 0.1 units. For example, you will be able to place an index CFD trade of 0.1 or 0.9 units. Impacts to the MT4 platform: Changing the minimum trade sizes for our index CFDs from 1 to 0.1 in our backend systems will change how your...Ignored
Disliked{quote} I received the stupid email last night. Already OANDA reduced my leverage from 100:1 to 30:1 because I live in Cyprus so I had to trade smaller lots unless I increased my account by 3.33 times. I like to trade WTI with 10 lots at a time because the value of 1 WTI tick is $1. This compares favourably to trading 1 lot of EURUSD with a pip value of $10. WTI is a CFD but not a stock index CFD like the DAX or DJ30 so I hope the trade size will not be reduced. {image}Ignored
Disliked{quote} Hutch you are confusing meWhy would it matter what eurusd lot pip value is compared to WTI. This is an empty argument since you can adjust position to whatever pip size you want. Furthermore why is reducing trade size have any impact on your trading? Everything will stay absolutely the same and additionally you will have an option to enter DAX trade with sub 1 unit position. This is particularly useful if your SL is far away and you dont want to risk 500-1000 euros with 1 DAX unit, so now you can risk only 50-100 with 0.1 unit.
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Disliked{quote} Hutch you are confusing meWhy would it matter what eurusd lot pip value is compared to WTI. This is an empty argument since you can adjust position to whatever pip size you want. Furthermore why is reducing trade size have any impact on your trading? Everything will stay absolutely the same and additionally you will have an option to enter DAX trade with sub 1 unit position. This is particularly useful if your SL is far away and you dont want to risk 500-1000 euros with 1 DAX unit, so now you can risk only 50-100 with 0.1 unit.
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DislikedWhy you even use Oanda i read their spreads are horrific and 50:1 and 30/20:1 leverage also living in Cyprus you can use a Aussie broker ECN on their offshore offices and have 500:1 leverage..... EDIT:ICM,FP Markets;Vantage ore AXI...Ignored
Disliked{quote} Sorry but comparing EURUSD to WTI is not an empty argument. With OANDA the pip value of EURUSD is $10 while the pip value of WTI is $1. So if you want to have a pip value for WTI similar to EURUSD you have to trade 10 lots of WTI. If you trade WTI you will find out that the margin cost for 1 lot of EURUSD is higher than the margin for 10 lots of WTI. Maybe this doesn't matter to you but it matters to me. More importantly the current ATR for WTI is 175 while the current ATR for EURUSD is 63. Why would you want to pay more to trade EURUSD...Ignored
Disliked{quote} Spreads and leverage are a lot less important than safety of funds. Over the last 16 years I had 5 forex brokers that went bust on me. I fully recovered the funds from 2 Cyprus brokers and the UK broker. The other 2 is the cost paid learning not to trust forex brokers. In case you didn't know there is no fund protection at all for Australian brokers. Here is a copy of my biggest lesson about a month before the broker went bust. {image}Ignored
Disliked{quote} Hutch, Could you please name the 2 brokers which went bust on you? Were they regulated brokers.....which agency regulated them?Ignored
DislikedI want to share my experience and request for advice. On December 20 I withdraw $5,000 USD from my Oanda account (have never withdrawn from them in the past and I've been using their platform for more than 10 years) since I needed this money for christmas. They split the withdrawal amount of $5,000 in 19 transactions, each of a different amount, and marked all of them as "completed". To this day "January 6" I have just received 5 of those 19 transactions, for the total amount of $350 ($4,650 are still missing) For this "slight delay" (as they called...Ignored
Disliked{quote} An update about this issue, It was HSBC Bank fault, OANDA sent the money but the bank lost it. Now I have my $5,000 USD on my bank account (after 5 months)Ignored
Disliked{quote} An update about this issue, It was HSBC Bank fault, OANDA sent the money but the bank lost it. Now I have my $5,000 USD on my bank account (after 5 months)Ignored
Disliked{quote} An update about this issue, It was HSBC Bank fault, OANDA sent the money but the bank lost it. Now I have my $5,000 USD on my bank account (after 5 months)Ignored
Disliked{quote} This is a very serious accusation. It doesn't make any sense. Banks transfer money to many many different parties everyday. On a different note, is Oanda good for trading silver? Thanks.Ignored
Disliked{quote} Fine for day trading, but if you carry it through the night the "swap" cost is outrageous.Ignored
Disliked{quote} The atrocious swap rates is the reason why I quit trading on D1 charts and reverted to my previous love Renko chartsIgnored
Disliked{quote} You are right Hutch, I have a simple profitable system for D1, BUT if you take into consideration the swap, plus the weekend spread spike, any chance of profitability goes down the drain.These days, living in Germany, almost everything is against a retail trader, between Brokers and taxes... Correct me if I´m wrong, but under these OANDA conditions, it is either a W1 or else Day Trading and closing all positions before the Asian open. It is otherwise not a viable business anymore. NZDCAD has a 20 pip weekend spread...
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