i know that oanda spread is not fixed but this is the first time i saw eurusd spread on oanda drops to 1 pip! even spread on usdjpy drops to 2 pips!
OandA 20 pip spread on GBP/JPY 14 replies
Oanda + NFP = 200 pip spread? 2 replies
How Oanda pip spread so high? 3 replies
DislikedThe thing is, Oanda charges you a spread of 1.5 pips for EURUSD but also quotes you a different price than market, thus charging you more pips.Ignored
DislikedI'm still highly distrustful of OANDA after it turned out their 200 pip spread spike on NFP was - and this is the scary part - a mistake entering A MANUALLY MANIPULATED SPREAD. It would appear the guy entered 200 instead of 20 - which in turn just means they manually widen their spread artificially on news as opposed to their "we're just mirroring the market" claims.Ignored
DislikedIf you're trading at any time on a news day this basically amounts to just another type of stop hunting by simply widening the "bashing radius" of the spread if you ask me.
This practice has made me highly distrustful of Oanda. Now I know it isn't fun to have 80% of your customers abuse your system with newstrading, but if what you do also means stopping out position or intraday traders for no good reason (i.e. artificially made prices) then I can't endorse that either.
I mean, christ, "we made a mistake ENTERING the spread"...that alone...
Also I've looked at their spread history on cable, is it normal that the average spread is 4-8 pips during any given day? And by far worse on news days it would appear, and not just DURING news, but simply during the day with 3-4 red news items.
I really like a lot of interface features they have (although I don't know why they have to use 3 instead of 4 hours) like the units or % defaults, but I believe they don't have TS and those spread tinkerings leave one with a very sour taste...anyone with deeper info on all this?
And am I the only one who thinks it's deeply cynical to claim 1$ trading and then charge 40 for withdrawals?
Bit like "Yea you can trade with small money with us, you just won't ever see it again. Think of it like paying to go see the movies!"Ignored
DislikedIíve also never been charged for withdrawals. I guess itís because I request withdrawals by check every last Sunday of each month so Iíll have the check by the end of week. Hopefully someone is listening and things will improve for everyone.Ignored