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OANDA Discussion

  • #6,961
  • Dec 28, 2022 1:23am Dec 28, 2022 1:23am
The grift is strong.
Muni loves you all!
  • #6,962
  • Dec 28, 2022 5:59am Dec 28, 2022 5:59am
Quoting JackintheBox
What the hell is going on with your swaps??? Other brokers are fine. You have swaps on GBP/CHF up to -14.97% !!! You have swaps up to -90% on some currencies on long and short side!! Here is an excerpt: {image}
Do you realize the entire market and what oanda does is designed to see you fail.

It's like asking oanda to be fair.

I can assure you this Ton you're speaking to can give a shitt or even know the details of what oanda does with their swap fees.

There's a duplicity in everything in fx.
THESE PEOPLE WITH COLORED BADGES ARE NOT PROFESSIONAL TRADERS
  • #6,963
  • Dec 28, 2022 8:02am Dec 28, 2022 8:02am
They will get back to me via back office(hopefully one day). I really want an explanation for that and I want to know there "blend of underlying liquidity providers’ tom-next swap rates" and the quotes of these days. Never ever Deutsche Bank or any other big liquidity provider would charge -14.16% on GBP/CHF short (-7% to regular) or -24.16% on GBP/PLN (-31% on regular!!). I really wonder on what liquidity providers they rely on.
  • #6,964
  • Dec 28, 2022 1:38pm Dec 28, 2022 1:38pm
Quoting JackintheBox
They will get back to me via back
How long have you been with them...hope you're not expecting more than their typical canned response?

Btw, unless you're a threat to them it's extremely unlikely you're being put through to their liquidity provider(s) and have been in their B-book this entire time. So a liquidity provider wouldn't be relevant in your case. They will not disclose this to you.
THESE PEOPLE WITH COLORED BADGES ARE NOT PROFESSIONAL TRADERS
  • #6,965
  • Dec 29, 2022 11:10am Dec 29, 2022 11:10am
and again... GBP/PLN -3.33% (yesterday +7.15%) Difference of 10.5% .... would be nice if Oanda could make a statement to that ??
USD/CHF -1.92% on long, yesterday + 2.90 %, on all other brokers it is at least +0.5%. Damn Oanda, please make a statement!!
  • #6,966
  • Dec 29, 2022 1:41pm Dec 29, 2022 1:41pm
Quoting JackintheBox
and again... GBP/PLN -3.33% (yesterday +7.15%) Difference of 10.5% .... would be nice if Oanda could make a statement to that ?? USD/CHF -1.92% on long, yesterday + 2.90 %, on all other brokers it is at least +0.5%. Damn Oanda, please make a statement!!
What is it that you want them to tell you? You uploaded the answer yourself and it's right in front of you.

Do you need your hand held through this. Put two and two together, you posted the answer yourself and you don't even realize it.

I don't want to brow beat you, but if you're wanting to be a trader you have to have basic intellectual skills.

The answer is right there.

Aside from all this, they're fucking covering their asses. They're fucking rigging it...

C'mon man, get with it.

I'm not trying to single you out, but you people get in your own ways.

This is FX and if you can't deal with it and beat them, then you'd best stop asap.
THESE PEOPLE WITH COLORED BADGES ARE NOT PROFESSIONAL TRADERS
  • #6,967
  • Edited 7:23am Dec 31, 2022 2:56am | Edited 7:23am
Just to put things into perspective Oanda's swap fees took over a whopping %30 of my profits this week - not including ticket fees/commission. Out of my trades, three were held over one night, the rest were day trades. Mind that this was all on a major, not an exotic or even a cross.

They are using their swap fees as a hedge. Realize swap fees are not unilateral in the industry and are an arbitrary number as much as they like to explain otherwise to you.

My serious advice is to try Forex.com

-or- go offshore and transfer funds via BTC

Oanda has gotten out of hand I have to agree and should not be a main account if even one at all.
THESE PEOPLE WITH COLORED BADGES ARE NOT PROFESSIONAL TRADERS
  • #6,968
  • Jan 3, 2023 2:21am Jan 3, 2023 2:21am
I think that it was, only on Oanda wide negative swap for both long & short positions, while normal swaps on other brokers...

Between December 23, 2022 and January 3, 2023, FX funding rates may rise due to the underlying conditions in the USD market. Any settlement dates may also be impacted. Such rises could potentially result in higher charges for any FX positions you hold with us during this period. Should you have any questions, please contact our customer service team...
I am who I am
  • #6,969
  • Jan 4, 2023 10:26am Jan 4, 2023 10:26am
I was considering going with Oanda for my fx trading, but after reading all the horror stories here I think I'll just stick with TD Ameritrade whom I trade equities with already.
Virtue signaling is for those who are devoid of actual virtue
  • #6,970
  • Jan 6, 2023 5:28am Jan 6, 2023 5:28am
Quoting Butters
I was considering going with Oanda for my fx trading, but after reading all the horror stories here I think I'll just stick with TD Ameritrade whom I trade equities with already.
A very wise decision my friend. Maybe check out the futures side of Forex.
  • #6,971
  • Jan 10, 2023 7:19am Jan 10, 2023 7:19am
Is Oanda good for clients staying in Greece? Thank you.
  • #6,972
  • Jan 11, 2023 1:47am Jan 11, 2023 1:47am
Quoting PatriotFx
Is Oanda good for clients staying in Greece? Thank you.
Hi PatriotFx

We do offer accounts in Greece. You can read some of the financing costs here: https://www.oanda.com/eu-en/trading/financing-costs/

Thanks!

Tom
  • #6,973
  • Jan 12, 2023 1:37am Jan 12, 2023 1:37am
Quoting PatriotFx
{quote} Hello thank you. How long does withdrawals take and does Oanda process Visa?
Hi PatriotFx

That will depend on the option for deposit/withdrawal that you will use. Can I suggest you reach out to our support team and they will be able to answer all your questions: https://oanda.secure.force.com/LiveChatSelection

Thanks!

Tom
  • #6,974
  • Jan 22, 2023 9:21am Jan 22, 2023 9:21am
I gotta say I made the jump from Oanda and while it sucked switching my workflow I am so much happier. Cheaper swaps, less slippage and just all around better. I'm now reading rumbles of withdrawals taking longer, glad I don't use them.
  • #6,975
  • Jan 25, 2023 4:11pm Jan 25, 2023 4:11pm
Evidently OANDA thinks we're at a major turning point. They just logged me out of their web app, and disconnected me from the desktop app.

They will tell you that they are having "system issues", and often try to pin the blame on you. "Everything's just fine here. Have you checked your Internet connection?" Yeah, I checked and everything is connecting perfectly to the Internet - except your various platforms. So what's up, eh?

All of the horror stories people read on this thread are actually true.

If not, OANDA, quit disconnecting us when we need you most.

Anyone else having issues?

Attached Image (click to enlarge)
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Student of the Markets
  • #6,976
  • Jan 25, 2023 4:28pm Jan 25, 2023 4:28pm
Again and again, same unreliable service...

We are currently experiencing technical difficulties with our services and are working to restore them as soon as possible. You may experience longer than normal wait times to receive a reply from us. We encourage you to explore our help portal , where you may find the answer to your question in our extensive FAQs.

We apologize for this inconvenience.
I am who I am
  • #6,977
  • Jan 25, 2023 4:35pm Jan 25, 2023 4:35pm
Quoting imwim
Again and again, same unreliable service... We are currently experiencing technical difficulties with our services and are working to restore them as soon as possible. You may experience longer than normal wait times to receive a reply from us. We encourage you to explore our help portal , where you may find the answer to your question in our extensive FAQs. We apologize for this inconvenience.
Don't worry, service will be restored as soon as the market has already made it's move, or once OANDA determines that it was a false alarm. Your friendly Forex provider (OANDA), just wants to prevent you from having access to your account at times they believe might be volatile. In other words, the times that are best to trade.
Student of the Markets
  • #6,978
  • Jan 25, 2023 4:40pm Jan 25, 2023 4:40pm
Quoting dchristi
{quote} Don't worry, service will be restored as soon as the market has already made it's move, or once OANDA determines that it was a false alarm. Your friendly Forex provider (OANDA), just wants to prevent you from having access to your account at times they believe might be volatile. In other words, the times that are best to trade.
I don't understand why Oanda don't put the Market on halted, and keep access to the account...
I am who I am
  • #6,979
  • Jan 25, 2023 4:43pm Jan 25, 2023 4:43pm
Quoting imwim
{quote} I don't understand why Oanda don't put the Market on halted, and keep access to the account...
That would be too obvious. This way they can pretend that "technical difficulties" are preventing them from providing the only service they, supposedly, offer.
Student of the Markets
  • #6,980
  • Jan 25, 2023 4:54pm Jan 25, 2023 4:54pm
Quoting dchristi
{quote} That would be too obvious. This way they can pretend that "technical difficulties" are preventing them from providing the only service they, supposedly, offer.
My guess is that the current volatility is related to Japan central bank intervention...but the proper solution is Oanda to put the Market on halted, and keep access to the account, so no one take advantage or disadvantage of the current volatility and not accessible accounts...
I am who I am
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