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OANDA Discussion

Quoting Hutch
{quote} I no longer keep any trade opened after the US session closed but I wish I could still trade GBPNZD on D1 charts. {image}
Right, you obviously understand this business. (I do the same).
Wonder if all brokers spike the weekends and Asian session so badly.
Quoting cuchuflito
{quote} Right, you obviously understand this business. (I do the same). Wonder if all brokers spike the weekends and Asian session so badly.
I think they all do because they want to get the most benefits if traders close their positions during the weekend but you cannot trade anything with OANDA during the weekend. Here is the OANDA Bitcoin spread, it never changes, it's always 36. On the other hand traders can trade Bitcoin with eToro during the weekend. Look at this spread.
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Quoting Hutch
{quote} I think they all do because they want to get the most benefits if traders close their positions during the weekend but you cannot trade anything with OANDA during the weekend. Here is the OANDA Bitcoin spread, it never changes, it's always 36. On the other hand traders can trade Bitcoin with eToro during the weekend. Look at this spread. {image} {image}
Interesting Hutch. I only day trade EURUSD, but it would be easy to make an extra buck with my D1 system, but definitely not with the Oanda swap and weekend spread. So thatīs that for Oanda.

My Oanda doesnīt offer Bitcoin! But is that correct, 36 constant spread versus 362 on the E toro? ??
For me, it could be worth investigating how to trade Cryptos as "crypto-assets" rather than CFDs. Those might just be free from the German "communist tax" they just implemented. All CFDs are affected, so losses can be deducted only up to 20000 Euros, effectively killing the business, unless you trade to make a couple of hundred bucks a year.
Quoting cuchuflito
{quote} Interesting Hutch. I only day trade EURUSD, but it would be easy to make an extra buck with my D1 system, but definitely not with the Oanda swap and weekend spread. So thatīs that for Oanda. My Oanda doesnīt offer Bitcoin! But is that correct, 36 constant spread versus 362 on the E toro? ?? For me, it could be worth investigating how to trade Cryptos as "crypto-assets" rather than CFDs. Those might just be free from the German "communist tax" they just implemented. All CFDs are affected, so losses can be deducted only up to 20000 Euros,...
Don't worry about the weekend spread because you cannot close trades or open new trades so showing 25.9 pips for GBPNZD is irrelevant. Yes OANDA has a constant spread of 36 for Bitcoin and eToro has a floating spread. By the way the picture was from my live eToro account but I'm not yet crazy enough to trade during the weekend. Here is a picture showing the current rates of Bitcoin and GBPNZD. Both spreads are way too high.

If you haven't tried to trade WTI with OANDA you might want to try it. There are three main advantages of trading WTI:

1. It normally trends better than currency pairs;

2. The daily trading range (ATR) is high (Friday 226 pips) compared to EURUSD (Friday 77 pips) and, as you know, the higher the ATR the more trades you can squeeze in every day. This also means that you have more chances to recover from a losing trade the same day.

3. The cost of trading WTI is low with OANDA. For example the cost of trading, as represented by the margin for 10 lots of WTI
(pip value of $1 x 10) is lower than trading 1 lot of EURUSD (pip value of $10 x 1) but at the end the pip value are the same for both.

I have also attached a copy of my WTI chart and another of my favorites Wheat.
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Quoting Hutch
{quote} Don't worry about the weekend spread because you cannot close trades or open new trades so showing 25.9 pips for GBPNZD is irrelevant. Yes OANDA has a constant spread of 36 for Bitcoin and eToro has a floating spread. By the way the picture was from my live eToro account but I'm not yet crazy enough to trade during the weekend. Here is a picture showing the current rates of Bitcoin and GBPNZD. Both spreads are way too high. If you haven't tried to trade WTI with OANDA you might want to try it. There are three main advantages of trading WTI:...
Thanks, Hutch, very valuable. The weekend spread problem is if I am are trading daily bars, I might have an open trade for a couple of weeks, but need to adjust the stop on the weekend, otherwise, I will be washed out on Monday open or Friday close. My system tightens the stop dramatically at times.
I did trade some commodities with Oanda, but then again not on a day trading basis. But I got spooked by their "swappy".
I still own my business, work from home, and can only afford the time (and eye fatigue) for one chart a day, so for the time being Iīm sticking to EURUSD. Hoping to retire soon, and then only trading (and classical guitar )...The problem remains the german Tax on CFDs, so Iīm looking at Cryptos, maybe through Coinbase.
The ATR of WTI is a valid argument though, I did take notice.
Thanks!
I'm using a demo account with Oanda on Trading View. I like to take half of my position at 2x risk and trail the rest to a higher target. I enter 2 half-size positions, both with different TP levels, but when price reaches my first TP, my whole position is closed out. Has anyone else had this problem? Maybe it's a limitation specific to Trading View?
Hi everybody, did you get the last message from OANDA:

"Action required: Accept our updated Terms of Busines"

They link you to a document that one is supposed to agree to. And of course it comes with a threat:

"If you have not accepted the agreement by the close of trading on 18 June 2021, we will have no alternative but to prevent you from funding your account or opening, closing or modifying any positions until you express your consent. Alternatively you may opt to close your account. "

Hate threats would never do that to my clients.

The problem is the link freezes!!!!!!!!!!!!
Tried from different browsers.

I kindly asked them to do their homework properly before threatening me to stop my trading.
Quoting cuchuflito
Hi everybody, did you get the last message from OANDA: "Action required: Accept our updated Terms of Busines" They link you to a document that one is supposed to agree to. And of course it comes with a threat: "If you have not accepted the agreement by the close of trading on 18 June 2021, we will have no alternative but to prevent you from funding your account or opening, closing or modifying any positions until you express your consent. Alternatively you may opt to close your account. " Hate...
All OANDA customers received that garbage email. Since no broker wants customers to close their accounts I'm 100% convinced that the changes are due to change of regulations from some half ass regulators. Even having my account in Canada, a few days after Brexit I received an email from OANDA telling me that I could no longer trade Bitcoin and that I could no longer trade some stock indices like the DAX and the FTSE with 100:1 leverage because I live in Cyprus but there is no problem trading non-EU indices at 100:1. Regulators don't want us to make a lot of money and change rules in order that we don't. This is my 2Ē
In order to trade 1 lot of the DJ now I need to use 100 lot. Totally annoying.
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Quoting Hutch
{quote} All OANDA customers received that garbage email. Since no broker wants customers to close their accounts I'm 100% convinced that the changes are due to change of regulations from some half ass regulators. Even having my account in Canada, a few days after Brexit I received an email from OANDA telling me that I could no longer trade Bitcoin and that I could no longer trade some stock indices like the DAX and the FTSE with 100:1 leverage because I live in Cyprus but there is no problem trading non-EU indices at 100:1. Regulators don't want...
What page do you have to sign. I received Updates to OANDA’s Client Agreement but I doesn't say anywhere what I got to sign...I I have no link.
Quoting Redbaron81
{quote} What page do you have to sign. I received Updates to OANDA’s Client Agreement but I doesn't say anywhere what I got to sign...I I have no link.
You have to press the blue button that states "Review and accept terms". This will take you to your login page that starts with https://auth.oanda.com/u/login?state=....

There is nothing new with the terms of business but I sent an email stating that I cannot accept the term below since I cannot authorize OANDA to pay tax on my behalf.

12.6 You will be liable for all taxes, fees and assessments for any Transaction you complete on
the Trading Platform, now or in the future. You will reimburse us if we pay any applicable
taxes on your behalf.
Quoting Hutch
{quote} You have to press the blue button that states "Review and accept terms". This will take you to your login page that starts with https://auth.oanda.com/u/login?state=.... There is nothing new with the terms of business but I sent an email stating that I cannot accept the term below since I cannot authorize OANDA to pay tax on my behalf. 12.6 You will be liable for all taxes, fees and assessments for any Transaction you complete on the Trading Platform, now or in the future. You will reimburse us if we pay any applicable taxes on...
In what situation OANDA may pay any applicable taxes on your behalf?
Only wealth which you will keep forever is the wealth you have given away.
Quoting ByeMyDeposit
{quote} In what situation OANDA may pay any applicable taxes on your behalf?
I have no clue since that never happened before. I think that, again, regulators are flexing their muscles on brokers to get them to pay taxes for us. I wouldn't be surprised at all if this came from Germany since their neo national socialist government is already squeezing traders.
Quoting Hutch
{quote} You have to press the blue button that states "Review and accept terms". This will take you to your login page that starts with https://auth.oanda.com/u/login?state=.... There is nothing new with the terms of business but I sent an email stating that I cannot accept the term below since I cannot authorize OANDA to pay tax on my behalf. 12.6 You will be liable for all taxes, fees and assessments for any Transaction you complete on the Trading Platform, now or in the future. You will reimburse us if we pay any applicable taxes on...

After a lot of hassles, I did press the button and accepted the terms, and they confirmed. Now I log in, and it says if I donīt do it soon they will close my account...I am so fed up with these people...I already sent them 3 emails, they wonīt bother answering...what a way of treating fellow human beings, clients on top...
Quoting cuchuflito
{quote} After a lot of hassles, I did press the button and accepted the terms, and they confirmed. Now I log in, and it says if I donīt do it soon they will close my account...I am so fed up with these people...I already sent them 3 emails, they wonīt bother answering...what a way of treating fellow human beings, clients on top...
Like any business some people are nice while others are trash. I guess you are dealing with the second category.
Quoting cuchuflito
Hi everybody, did you get the last message from OANDA: "Action required: Accept our updated Terms of Busines" They link you to a document that one is supposed to agree to. And of course it comes with a threat: "If you have not accepted the agreement by the close of trading on 18 June 2021, we will have no alternative but to prevent you from funding your account or opening, closing or modifying any positions until you express your consent. Alternatively you may opt to close your account. " Hate...
Cuchuflito,
Which Oanda branch do you hold your account.......is this change of terms applicable to all OANDA branches or only specific?
Quoting sarvesh2509
{quote} Cuchuflito, Which Oanda branch do you hold your account.......is this change of terms applicable to all OANDA branches or only specific?
Europe.
Just go trough their live chat help. Had the same problem with that warning message not disappearing and it got resolved very fast
Quoting sarvesh2509
{quote} Cuchuflito, Which Oanda branch do you hold your account.......is this change of terms applicable to all OANDA branches or only specific?
I don't know if it's specific to Europe but I'm sure it's specific to people like me living in the EU although my account is in Canada.
No access to oanda. FxTrade cannot launch. Is there anyone else with same problem?
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