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OANDA Discussion

Hello!

Anybody knows what the table/button on "swap" in Oanda's platform is all about? Thanks!
"No trade is still a trade." - Peter Borish
Quoting Lbrto
Hello! Anybody knows what the table/button on "swap" in Oanda's platform is all about? Thanks!
Hi Lbrto,

Swap is a difference in interest rates between two currencies. If we buy or sell on a term, we add or subtract a swap (the swap adjusts the price). If we change the billing date, the price changes.
Does that make sense?

Thanks!
Ton O.
Quoting OANDA
{quote} Hi Lbrto, Swap is a difference in interest rates between two currencies. If we buy or sell on a term, we add or subtract a swap (the swap adjusts the price). If we change the billing date, the price changes. Does that make sense? Thanks! Ton O.
Thanks Ton!

How does that affect my trade? Am I right to think it's related to the possible change in spread between the pair when I bought it and while I'm holding it?

Thanks!
"No trade is still a trade." - Peter Borish
Quoting Lbrto
{quote} Thanks Ton! How does that affect my trade? Am I right to think it's related to the possible change in spread between the pair when I bought it and while I'm holding it? Thanks!
The swap is the cost you pay (Daily financing cost) for using the account leverage (for account leverage equal to 1, there is no any swap, but the minimum account leverage is equal to 10, so there is always a swap)...the account balance will increase/decrease at Rollover time (midnight) with the swap if the swap is positive/negative, for the opened positions...
https://www.oanda.com/us-en/trading/financing-fees/
I am who I am
Quoting imwim
{quote} The swap is the cost you pay (Daily financing cost) for using the account leverage (for account leverage equal to 1, there is no any swap, but the minimum account leverage is equal to 10, so there is always a swap)...the account balance will increase/decrease at Rollover time (midnight) with the swap if the swap is positive/negative, for the opened positions... https://www.oanda.com/us-en/trading/financing-fees/
Thanks! This makes it clearer.
"No trade is still a trade." - Peter Borish
Quoting Lbrto
{quote} Thanks! This makes it clearer.
Make sure you are clear about the weekend spread.
The market opened 8 minutes ago after the weekend:
EURGBP 14 PIPS
EURAUD:17 PIPS
EURUSD: 6 PIPS
GBPAUD: 28 PIPS
USDCAD: 11 PIPS
USDCHF:13 PIPS
Swap costs, compared to this are peanuts.
Beware.
Quoting H13
{quote} I already have and my second relationship manager responds the same way. Like he doesn't know what I'm talking about and with the same canned responses. Remember this discussion was whether or not Oanda trades against me. So if he says he doesn't know what I'm talking about, you say that it depends on the location and I can clearly see reflexive price action against even my AGGREGATE position then who do I believe?
I am not sure if Oanda needs to trade against you to make money.
That job gets done by the 4 or 5 big players. They do have the money, the expertise, the equipment, the best traders, and the software developers.And I mean billions of cash and armies of experts.
EURUSD is by far the biggest market on the planet.
Big Boys make their millions, daily, extracting money from retailers, and all legally. Amongst others, they can see all the existing orders and positions.
Goldman had an expectancy of close to 20 last year. Meaning they make on average 20 bucks per dollar risked. A system with an expectancy of 1, for a retailer, can make millions. Goldman did 20 times better than that.
That is huge.
The systems that work, are the ones that can somehow, jump on the train that starts moving by the action of these "institutions".
Oanda, being a so-called "bucket shop" broker, does make money when you lose, and since the majority of retailers lose...... business is guaranteed.
Oanda and Goldman have different business models, both legal. But both live on retailer meat. Like Las Vegas, the more people play the game...
Quoting cuchuflito
{quote} Make sure you are clear about the weekend spread. The market opened 8 minutes ago after the weekend: EURGBP 14 PIPS EURAUD:17 PIPS EURUSD: 6 PIPS GBPAUD: 28 PIPS USDCAD: 11 PIPS USDCHF:13 PIPS Swap costs, compared to this are peanuts. Beware.
Thanks!
"No trade is still a trade." - Peter Borish
I am a holder of MT5 account number 4028019 with Oanda. Since I opened this account trading it has been a nightmare. The charts are frozen, unresponsive most of the time. You try to enter a trade and all that happens is you get the button just spinning, and you are not sure whether a trade has been entered or not. Closing a trade, the same thing happens and it might get closed minutes later, and in most cases when it is not in your favour.

Whenever there are important news the charts will be off for hours, the length depending on how important the news are. Changing from one time frame to another is near impossible. I have to rely on charts from other brokers to see what is happening.

I have contacted Oanda a number of times but no help has been offered. I was told to delete the chart and download again. It did not help. I made sure there are no indicators on the charts, not even a moving average, it changes nothing.

All the while charts from other brokers are ticking smoothly! I have sampled several brokers but I had never experienced anything close to what I am going through with Oanda. Has any one here using Oanda's MT5 experienced this or is this only unique to me
I get, as most people here say, repeated errors.
-Connection problems.
-The "profile manager" is a joke. It makes problems every day.
-The list goes on....

Either Oanda ( a huge company), is totally incompetent.
Or....(please fill in the blank space.)
I get this message every single day, no big deal, but why?
Total incompetence at the least.
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Quoting cuchuflito
I get this message every single day, no big deal, but why? Total incompetence at the least. {image}
Hi cuchuflito,

We can try some troubleshooting as this shouldn't be happening. If you have tried that, maybe you can send the data logs to our team so they can investigate it further.

Thanks,
Ton O.
Quoting OANDA
{quote} Hi cuchuflito, We can try some troubleshooting as this shouldn't be happening. If you have tried that, maybe you can send the data logs to our team so they can investigate it further. Thanks, Ton O.
Thanks for that, very kind, but I donīt have the time for that.
I just ignore it.
Quoting zackyat
last night i chatted with a representative from fxcm when i mentioned oanda, he kept on mentioning that oanda is a very small company and not reputable. haha i understand that he's always going to back fxcm. however, to all oanda live customers out there, have you faced any notable problems like difficulties in withdrawing fund etc... appreciate if anyone can share their opinions here
Hey Zack,

We have had no issues with OANDA. Depositing, withdrawing, trading all has been a pleasant experience. Server times / open / close are on time as well.
Financing our future
Quoting OneBigFund
{quote} Hey Zack, We have had no issues with OANDA. Depositing, withdrawing, trading all has been a pleasant experience. Server times / open / close are on time as well.
Do you realize you are replying to a post from 2004?
Quoting xy100
{quote} Do you realize you are replying to a post from 2004?
Time is timeless.
Financing our future
Quoting OneBigFund
{quote} Time is timeless.
Quoting OneBigFund
{quote} Time is timeless.
Well said and it's always good to have new people here. If there are any questions I can help with, let me know!

Thanks,
Ton O.
Quoting OANDA
{quote} Well said and it's always good to have new people here. If there are any questions I can help with, let me know! Thanks, Ton O.
Do you know of any plans at Oanda to discontinue offering MT4? What are the odds the regulators come in and put a stop to it after Apple removing both MT4/5 from the app store most likely due to geopolitical reasons...? Thanks!
Quoting Simulationx
{quote} Do you know of any plans at Oanda to discontinue offering MT4? What are the odds the regulators come in and put a stop to it after Apple removing both MT4/5 from the app store most likely due to geopolitical reasons...? Thanks!

Hi @Simulationx,

This is a developing situation and unfortunately, we do not have any information as to why Apple decided to remove this platform. Our clients that have previously installed the app can continue to use it for the time being.

Thanks!
Ton O.
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