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  • #5,301
  • Jul 7, 2018 3:32pm Jul 7, 2018 3:32pm
Quoting Expo33
{quote} You haven't mentioned those brokers and over and over. All you have done over and over and over and over is tell us how bad Oanda is and how awesome those offshore brokers are. Is it possible you lost a lot of money with Oanda and are just mad at them for your losses? PS. I know what brokers accept US clients but I am just curious what offshore brokers you consider amazing. Clearly your opinion is infallible. Plus you are so highly esteemed here at FF. Us regular folk need your advice.
Never used Oanda in my life, so incorrect assumption there. That was my point, I have never mentioned them, as I stated would be foolish to keep drawing attention to them. You already know who they are, so not so sure why the trolling to have me mention them. You are clearly happy with Oanda and I clearly prefer to trade with much lower trading cost and not tie up as much capital to execute the same size trade. To each his own, once again not sure what your issue is, some very basic research you should be able to figure out who I use.
  • #5,302
  • Jul 7, 2018 3:46pm Jul 7, 2018 3:46pm
Quoting pipmaster77
{quote} Never used Oanda in my life, so incorrect assumption there. That was my point, I have never mentioned them, as I stated would be foolish to keep drawing attention to them. You already know who they are, so not so sure why the trolling to have me mention them. You are clearly happy with Oanda and I clearly prefer to trade with much lower trading cost and not tie up as much capital to execute the same size trade. To each his own, once again not sure what your issue is, some very basic research you should be able to figure out who I use.
I only have 20% of my total trading capital with Oanda. That's all I need to pay my bills. The rest is in an FDIC insured bank accounts. Like I have said before you can hedge with Oanda, FIFO also a non issue.

Thanks for your valuable insight.
Pride always comes before destruction.... -Proverbs 16:18
  • #5,303
  • Jul 7, 2018 3:54pm Jul 7, 2018 3:54pm
Quoting Expo33
{quote} I only have 20% of my total trading capital with Oanda. That's all I need to pay my bills. The rest is in an FDIC insured bank accounts. Like I have said before you can hedge with Oanda, FIFO also a non issue. Thanks for your valuable insight.
Well offshore, you could accomplish the same thing with only 5-6% of your capital, much less risk. As far as hedging FIFO and leverage, all non issues to me as well. My issue is market maker brokers in general. It's like betting with a bookie where they actually control the outcome of the game. In addition, the spreads at Oanda would literally cost me thousands of dollars more per year than my tiny spread + commission I pay. Those thousands are profit as opposed to going to Oanda.
  • #5,304
  • Jul 7, 2018 4:23pm Jul 7, 2018 4:23pm
Quoting pipmaster77
{quote} Well offshore, you could accomplish the same thing with only 5-6% of your capital, much less risk. As far as hedging FIFO and leverage, all non issues to me as well. My issue is market maker brokers in general. It's like betting with a bookie where they actually control the outcome of the game. In addition, the spreads at Oanda would literally cost me thousands of dollars more per year than my tiny spread + commission I pay. Those thousands are profit as opposed to going to Oanda.
Yes much less risk assuming that offshore broker doesn't go bankrupt. But then again I'm just a small retail trader.

I may try out Finpro. The only one I haven't tried so far that seems reputable.
Pride always comes before destruction.... -Proverbs 16:18
  • #5,305
  • Jul 7, 2018 8:59pm Jul 7, 2018 8:59pm
Quoting Expo33
{quote} You haven't mentioned those brokers over and over. All you have done over and over and over and over is tell us how bad Oanda is and how awesome those offshore brokers are. Is it possible you lost a lot of money with Oanda and are just mad at them for your losses? PS. I know what brokers accept US clients but I am just curious what offshore brokers you consider amazing. Clearly your opinion is infallible. Plus you are so highly esteemed here at FF. Us regular folk need your advice.
There is another possibility: he works for those brokers and pays his dues to @FF.
  • #5,306
  • Jul 9, 2018 6:07pm Jul 9, 2018 6:07pm
I find it funny how people try to puff themselves up by pretending to have knowledge on something. Why does anyone care who uses what broker? Personally I use Oanda, have so for 12 years. My spreads are always between 1 -1.5 when I make my trades. I trade all the majors within 1 hour of New York close and have never had an issue. I pay a commission that is a bit higher then some but for me it is the CODB to work with a good broker. Even with the added commission, it is usually less than 2 pips total round trip per pair on the majors on average. For example the cheapest is USDJPY and is around 0.9 total with full turn commission. The most expensive is GBPUSD which is 1.5 full turn. Full disclosure, I do have the premium account and get a discount on spreads and commissions. In the US, where I am based, we have 3 choices. Oanda, Gain Capital and Interactive Brokers. That is it. All are the same more or less but I just like Oanda. That does not make me wrong. It is my choice.

Some folks weigh the risk of higher leverage and or smaller spreads or commissions against the risk of having an overseas broker. My broker has an office in my city. I have been there, chatted with staff and the business office manager. For me, it seems silly and immature to argue about brokers. A few of the folks on here who have been posting recently are dead wrong in every way about Oanda and trading in general. It shows their inexperience and/or lack of knowledge. Which is fine. It is entertaining to watch, but it does get old and bad mouthing a decent broker is doing new traders a disservice.

There is a reason they have regulated offices in 7 cities around the world that are actual players (San Francisco, Toronto, New York, London, Tokyo, Singapore and Sydney) in the financial world and net capitals that far exceed what is required. They are a well respected Forex industry company that offers its services to major blue chip companies. They have have regular analysts on Bloomberg and other financial networks. They just got a cash infusion from CVC Capital Partners to buy all the outstanding equity in the company. They have also started a new Currenex based Institutional Trading platform. This is no ordinary "bucket shop". They are as transparent a broker I have ever researched.

Just remember what they did during the CHF event. While other 'Brokers' closed their doors or wanted more money from "clients", FXCM is a despicable company, Oanda not only honored stops but refunded losses that exceeded stops and honored gains. That is something you can respect.

- Ric
Be humble or get humbled
  • #5,307
  • Jul 18, 2018 7:42am Jul 18, 2018 7:42am
Hello all,
Is server time the same on v20 Live-1 as v20 Live-2 ?
Thank You
  • #5,308
  • Jul 23, 2018 2:59pm Jul 23, 2018 2:59pm
Quoting riclater211
I find it funny how people try to puff themselves up by pretending to have knowledge on something. Why does anyone care who uses what broker? Personally I use Oanda, have so for 12 years. My spreads are always between 1 -1.5 when I make my trades. I trade all the majors within 1 hour of New York close and have never had an issue. I pay a commission that is a bit higher then some but for me it is the CODB to work with a good broker. ...- Ric
Nice single endorsement based on personal usage .

To be honest, when looking for a broker I tend to look for legit long time user reviews over anything else. Star ratings and other corporate endorsements ring pretty hollowly imo.

Reading your reply gave me an overall good feeling that I made the right choice with Oanda. So far, I haven't had any issues. I've always gotten my withdrawals as requested and the spreads have never really been anything to complain about.

On another note, you mentioned the only other broker's statewide were Gain Capital and Interactive Brokers. What about FxChoice? should they even be on the radar? I've been eyeing them for a while as a secondary account.
Do more of what works and less of what doesn't.
  • #5,309
  • Jul 23, 2018 10:16pm Jul 23, 2018 10:16pm
I started trading at OANDA from 2002. I had to stop in 2008 due to other commitments. I was quite a fanboy of OANDA back then and recommended them to all those traders that asked me. They weren't perfect. But overall probably one of the best market makers back then. Problems I came across were wide spreads for too long (up to an hour after news releases), price shading (up to 50 pips against me), platform crashes when major news were released, etc. Their forum was very active, but now it is dead. When I started trading FX again last year, I automatically opened another account with them. But I'm not quite as happy with them now. Even the 2 co-founders have or soon to abandon OANDA. Later this year, I will open an account with Interactive Brokers and make them my primary spot FX broker.
  • #5,310
  • Jul 30, 2018 1:58am Jul 30, 2018 1:58am
Quoting shellback
I started trading at OANDA from 2002. I had to stop in 2008 due to other commitments. I was quite a fanboy of OANDA back then and recommended them to all those traders that asked me. They weren't perfect. But overall probably one of the best market makers back then. Problems I came across were wide spreads for too long (up to an hour after news releases), price shading (up to 50 pips against me), platform crashes when major news were released, etc. Their forum was very active, but now it is dead. When I started trading FX again last year, I automatically...

You are right, even trading the 1 H EURAUD is impossible with them, they spiked me out on Friday, there was no news, normal spread (2,2),
BUT they have the sweet "hi bid and low ask" BS..The spike went up to 8 pips, just usual rippoff.Then on the weekend, just befoore the close, they spiked me out of ZARJPY, the spread widened to 3 times the size of an average 1 H bar!!!!!!!!!!!!!!!!!
Luckily I was just trading pennies, testing my system...but hardly anything could work in such an environment.
Itīs an impossible race...probably the only viable chart is the weekly with OANDA, and even there, with wide spreads.
  • #5,311
  • Jul 30, 2018 2:03am Jul 30, 2018 2:03am
Just on the sidelines, I never met a pro using OANDA so far...
  • #5,312
  • Jul 30, 2018 2:42am Jul 30, 2018 2:42am
And of course, market makers win, when we loose...I guess we all know that right?
  • #5,313
  • Jul 30, 2018 6:00am Jul 30, 2018 6:00am
Talking about high bid/low ask, this is a ZARJPY 15 minute chart. ( exotic, granted)...only viable TF would be the monthly chart?...better quarterly...
Btw. the 2 lines are the real spread costs.
Attached Image (click to enlarge)
Click to Enlarge Name: z.PNG Size: 1.1 MB
  • #5,314
  • Aug 8, 2018 6:41pm Aug 8, 2018 6:41pm
I'm using Oanda. Today I placed a trade on the NZD/USD (US dollar trade) . The trade executed on Aug 8 at 17:00. It was a sell at 0.67182 with a take profit set at 0.67182. Both the Bid and Ask line dropped below the TP but the trade did not close. Any thoughts?
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD.png Size: 98 KB
  • #5,315
  • Aug 8, 2018 6:56pm Aug 8, 2018 6:56pm
Entry and TP price the same?
  • #5,316
  • Aug 8, 2018 7:21pm Aug 8, 2018 7:21pm
Sorry TP was 0.67076
  • #5,317
  • Aug 8, 2018 7:27pm Aug 8, 2018 7:27pm
Quoting jabow
Sorry TP was 0.67076
Then I got nothing. Curious if you call, though.
I know my chart candles can be set up for bid/mid/or ask and damn if
I don't get stopped out/put into a trade on a one-pip tick on any of them.
And NEVER to-the-good!
It sounds like/looks like you got that covered, though.
  • #5,318
  • Aug 8, 2018 7:39pm Aug 8, 2018 7:39pm
jabow, can you show that TP(pending Buy limit order) was placed on Oanda servers.

Please let us know what happened and what Oanda will do about it.
  • #5,319
  • Aug 8, 2018 9:47pm Aug 8, 2018 9:47pm
Quoting jabow
Sorry TP was 0.67076
At OANDA, the candlestick chart uses the average price of bid-ask. If you select Min/Max type, you will see the lowest ask price at that time was 0.67096 so it never reached your TP price of 0.67076.
  • #5,320
  • Aug 20, 2018 4:58am Aug 20, 2018 4:58am
Hi guys, going back to FX game, I remember OANDA had some of the tightest spreads and now compared in this chart, it is 2 pips for EUR /USD while others are like 04, etc. Did something happen or those charts are wrong?

https://www.myfxbook.com/en/forex-broker-spreads

Are they going downhill or? Used to love them many moons ago
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