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  • #6,061
  • Edited 1:37am Apr 11, 2020 12:50am | Edited 1:37am
Quoting cuchuflito
{quote} True, check the spreads today, European Session: USDCAD:5,4 EURGBP:5 (!!) Thatīs your Easter Chocolate from Oanda with love..
You dont think Easter holiday had something to do with it and the fact there was a bank holiday in UK and Canada?
  • #6,062
  • Apr 13, 2020 1:49am Apr 13, 2020 1:49am
Quoting xy100
{quote} You dont think Easter holiday had something to do with it and the fact there was a bank holiday in UK and Canada?
Oh, you are right, "there was a Bank Holiday in Canada" so poor Oanda hat no choice but to increase their spreads by 400%.
  • #6,063
  • Apr 13, 2020 5:56am Apr 13, 2020 5:56am
So is here actually anybody US based,who has regular forex account with us broker,no offshores just for day trading forex pairs?
I'm looking for reliable broker for us citizen.No options or futures at this time.just forex.
Whether you think you can, or you think you can't,you're right. H.F.
  • #6,064
  • Apr 13, 2020 7:46am Apr 13, 2020 7:46am
Quoting Simply-Me
So is here actually anybody US based,who has regular forex account with us broker,no offshores just for day trading forex pairs? I'm looking for reliable broker for us citizen.No options or futures at this time.just forex.
If you want a US broker, not offshore.........GOOD LUCK is all I can say
  • #6,065
  • Apr 14, 2020 7:53am Apr 14, 2020 7:53am
Quoting Simply-Me
So is here actually anybody US based,who has regular forex account with us broker,no offshores just for day trading forex pairs? I'm looking for reliable broker for us citizen.No options or futures at this time.just forex.
//----

i have the maximum allowed accounts with oanda.... never had a single negative issue worth mentioning......h
to trade and code, keep both simple... no call to impress....h
  • #6,066
  • Apr 14, 2020 8:47am Apr 14, 2020 8:47am
Here is why it's best to trade with OANDA Canada
Attached Image (click to enlarge)
Click to Enlarge Name: Oanda.png Size: 19 KB
  • #6,067
  • Apr 14, 2020 11:16am Apr 14, 2020 11:16am
Quoting Hutch
Here is why it's best to trade with OANDA Canada {image}
Can I have the website for more further info?, really interesting.

Now, I'm with OANDA AUS, Is it possible to change to OANDA Canada?
  • #6,068
  • Edited 12:03pm Apr 14, 2020 11:43am | Edited 12:03pm
They just increased WT long carry to -268% HAHAHAHAA fucking scumbag market maker got to kick out as many people off positions as they can before oil recovers...Lose/Lose with these pices of dog shit

I could get better interest from loan sharks...like the mob...lol

West Texas Oil -268.50% -$15.59$
  • #6,069
  • Apr 14, 2020 1:59pm Apr 14, 2020 1:59pm
Quoting hayseed
{quote} //---- i have the maximum allowed accounts with oanda.... never had a single negative issue worth mentioning......h

I assuming US account,thanks for input
Whether you think you can, or you think you can't,you're right. H.F.
  • #6,070
  • Apr 14, 2020 2:48pm Apr 14, 2020 2:48pm
Quoting MoneyMonster
{quote} Can I have the website for more further info?, really interesting. Now, I'm with OANDA AUS, Is it possible to change to OANDA Canada?
Here is the site https://www.forexbrokerslab.com/oanda-review/

The only requirement for opening an account is that you need a bank account in Canada. The reviewer states that it's not worth it to have a premium account because a trader needs to deposit at least $50,000 but he forgot to state that a premium account holder can also have a 100:1 leverage. Although free, the account guarantee is worth something even if it's only the peace of mind that your account is safe. Here is a picture of my live account (account # removed for security reasons)
Attached Image (click to enlarge)
Click to Enlarge Name: OANDA - MetaTraderb.jpg Size: 154 KB
  • #6,071
  • Apr 15, 2020 1:16am Apr 15, 2020 1:16am
Quoting Redbaron81
They just increased WT long carry to -268% HAHAHAHAA fucking scumbag market maker got to kick out as many people off positions as they can before oil recovers...Lose/Lose with these pices of dog shit I could get better interest from loan sharks...like the mob...lol West Texas Oil -268.50% -$15.59$
Same here, WTF is this, never seen that
  • #6,072
  • Apr 15, 2020 3:47am Apr 15, 2020 3:47am
Quoting Redbaron81
They just increased WT long carry to -268% HAHAHAHAA fucking scumbag market maker got to kick out as many people off positions as they can before oil recovers...Lose/Lose with these pices of dog shit I could get better interest from loan sharks...like the mob...lol West Texas Oil -268.50% -$15.59$
Best is to never keep WTI trades opened overnight. It went down more than $1 since I posted the chart above 12 hours ago. Looks like oil will not recover soon
Attached Image (click to enlarge)
Click to Enlarge Name: WTICOUSD-4M2.png Size: 34 KB
  • #6,073
  • Apr 15, 2020 4:55am Apr 15, 2020 4:55am
Attached File(s)
File Type: ex4 AnyCandle1.ex4   21 KB | 352 downloads
  • #6,074
  • Apr 15, 2020 6:03am Apr 15, 2020 6:03am
Quoting Redbaron81
They just increased WT long carry to -268% HAHAHAHAA fucking scumbag market maker got to kick out as many people off positions as they can before oil recovers...Lose/Lose with these pices of dog shit I could get better interest from loan sharks...like the mob...lol West Texas Oil -268.50% -$15.59$
Newb here coming from Oanda UK Forex, into oil, - amateur not pro!
Long on WTI around $23 a week ago, took a relatively small position to leave enough acc space for margin all the way down to $12 as I was looking at a 6 month hold. I also allowed enough acc space for financing cost... But not at 268%!
I have read and re-read the Oanda explanation of how it is calculated but still not completely clear how long I should expect that sort of rate to last, underlying oil contracts expiry is 20th I think.
They seem to say that as they approach the expiry they modify the CFD spot price to bring to up to the futures price, then take it back off in the overnight funding? - But I might have got that completely wrong. Could someone help me out with an explanation please. Thanks!
  • #6,075
  • Apr 16, 2020 1:08am Apr 16, 2020 1:08am
Quoting Wightoil
{quote} Newb here coming from Oanda UK Forex, into oil, - amateur not pro! Long on WTI around $23 a week ago, took a relatively small position to leave enough acc space for margin all the way down to $12 as I was looking at a 6 month hold. I also allowed enough acc space for financing cost... But not at 268%! I have read and re-read the Oanda explanation of how it is calculated but still not completely clear how long I should expect that sort of rate to last, underlying oil contracts expiry is 20th I think. They seem to say that as they approach...
They will give you an explanation like: "my dad was sick, so he couldnīt visit my aunt, who, because of that, had her spaghetti burnt, and made her skip her walk with her dog...."
"clearly" OANDA had no choice but to increase their prices at will...and you can blame it on their aunt.

Point is we need to understand the price increase and trade accordingly.(good that we have this thread to help each other!!)
For me: only day trading EU Session till US close (latest).
Otherwise Day charts, better weekly.
  • #6,076
  • Edited 2:48am Apr 16, 2020 1:22am | Edited 2:48am
Ha ! Yeah I was trading the daily/weekly as it was a mid term play - I'm not alone in this as money is pouring into the WTI ETCs on the basis that it can "never" be free.
I am guessing that the world and his Aunt just bailed out of WTI on Oanda, I just did and it hurt! I am assuming that their "pricing engine" was not designed with the last months activity in mind. I really want to understand this - and they knew it was coming as they sent an email saying "funding prices go up and down, sometimes by a lot" - I just want to know if it is until the new futures contract comes in in 5 days or for the next 31 days.

EDIT
Oanda got back to me "the funding rates will likely be higher for the foreseeable future"
  • #6,077
  • Apr 16, 2020 5:08am Apr 16, 2020 5:08am
Quoting Wightoil
EDIT Oanda got back to me "the funding rates will likely be higher for the foreseeable future"
it will be higher till oil recovers. Mean while they will make back in intrest what they will lose in oil going up....there just a scambag market maker.
  • #6,078
  • Edited 5:48am Apr 17, 2020 5:15am | Edited 5:48am
WTI - Now $44 to hold a 100bbl long position overnight.
So the reverse is true that you can short 100 overnight and be in the money as long as it moves less than 43c against you. Make sense or am I dreaming?

EDIT - Dreaming - according to OANDA's blurb
Financing costs on commodity (including copper) and bond CFDs are therefore calculated on a continuous second-by-second basis.
For the duration of the trade the resultant financing charge/ credit is debited/ credited at the end of each day (5pm ET), including weekends and public holidays, and when the trade is closed.

This however was not true as there was no financing charge when I had a short duration long or when I had a short duration short so I am missing something somewhere.
  • #6,079
  • Apr 17, 2020 8:59am Apr 17, 2020 8:59am
Quoting Wightoil
WTI - Now $44 to hold a 100bbl long position overnight. So the reverse is true that you can short 100 overnight and be in the money as long as it moves less than 43c against you. Make sense or am I dreaming? EDIT - Dreaming - according to OANDA's blurb Financing costs on commodity (including copper) and bond CFDs are therefore calculated on a continuous second-by-second basis. For the duration of the trade the resultant financing charge/ credit is debited/ credited at the end of each day (5pm ET), including weekends and public holidays, and when...
I had financing costs for long and financing payments for short WTI trades so these were computed second by second.
  • #6,080
  • Apr 17, 2020 9:39am Apr 17, 2020 9:39am
Thanks Hutch - maybe I made the trades after the cut off and the financing will show up tonight.

Do I understand correctly that OANDA will incrementally load their CFD price until it meets the June contract price on the 21st. In order that you don't make a profit from this loading by being long, they charge you finance at the same rate as they increment the price?
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