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Oanda just lower their spreads!!

  • #21
  • May 16, 2007 11:56am May 16, 2007 11:56am
Quoting Circafx
can anyone give me the defintion of what Bucketshop is?
Pretty much any broker that is not licensed through NFA etc. These groups that are not licensed do not have requirements in place for fund security, thus any corporate havoc that occurs ... you will likely not see your money again unless you file complaints, lawsuits etc.
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #22
  • May 16, 2007 12:43pm May 16, 2007 12:43pm
Quoting StockKJay
...you will likely not see your money again unless you file complaints, lawsuits etc.
...and even then, your chances are around .001%... pretty good odds.
Mr. Trend
  • #23
  • May 16, 2007 12:52pm May 16, 2007 12:52pm
whoah trailing stop with oanda??? the possibilities!
  • #24
  • May 16, 2007 12:59pm May 16, 2007 12:59pm
Quoting Mr Trend
...and even then, your chances are around .001%... pretty good odds.
True of course.
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #25
  • May 16, 2007 4:14pm May 16, 2007 4:14pm
Will there ever be a push to regulate the forex market? Protection by the FDIC?
  • #26
  • May 16, 2007 4:56pm May 16, 2007 4:56pm
Quoting Moe
check out odl mt-4, spreads or damn good and spreads don't widen during news unless there some major shit going down
On fxlite, i was online looking at 4 news today including one major and none impacted the spread. I have yet to see what happens on NFP ^^
  • #27
  • May 17, 2007 3:41pm May 17, 2007 3:41pm
1 pip spread on EUR/CHF. What a nice suprise. This is only during Europe trading, perhaps early US trading as well.
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #28
  • May 18, 2007 6:18am May 18, 2007 6:18am
GMT+2 time here,

11:27 1m candle on EJ and GJ, 50 pips EJ spread on Oanda for a bit
Crosshair it a bit, it's fun stuff

Was around 20-50 for a few minutes there, making an entry into the drop impossible.

Makes me feel so much better for just having deposited real funds with them yesterday
Attached Image
Trust price. Know yourself.
  • #29
  • May 20, 2007 5:34pm May 20, 2007 5:34pm
Quoting SeekingLight
GMT+2 time here,

11:27 1m candle on EJ and GJ, 50 pips EJ spread on Oanda for a bit
Crosshair it a bit, it's fun stuff

Was around 20-50 for a few minutes there, making an entry into the drop impossible.

Makes me feel so much better for just having deposited real funds with them yesterday

Have to put this into perspective - they're min/max for 1M, so the individual realtime spread may have been quite lower per tick. It still means it pinballed around quite a bit. Will have to watch this realtime.
Trust price. Know yourself.
  • #30
  • May 24, 2007 7:46am May 24, 2007 7:46am
Quoting SeekingLight

Why can't I just put in how many dollars / cents I want to trade per pip?????

Why do I need to use units, which are then recalculated in the interface? Why can't the interface let me put in "1.33 USD per pip" and then calculate Units accordingly, making it transparent for ME?
I think it's not possible when the counter currency is not USD. E.g. for USD/JPY, 1 pip in 1 standard lot will be $8.33 when it's trading at 120.00 and 1 pip will be $9.09 when it's trading at 110.00. So the value per pip should be equal to the value of the value when you buy or sell?

If an user says he wants to buy at a value of $1 per pip, the value of a pip can be more or less then $1 when he sold. And I think some people will get confused of the interface of "I want to have $1 per pip".

just my 2 cents.
  • #31
  • May 24, 2007 8:08am May 24, 2007 8:08am
Quoting zobo
I think it's not possible when the counter currency is not USD.

And I think some people will get confused of the interface of "I want to have $1 per pip".
Actually I meant cent precision, i.e. putting in 1 cent or 10 etc pp directly instead of having to calculate beforehand from units, which can be annoying.

As for the spread - just got spiked out of GJ as it went to 241.01/241.41 extremes during the durable goods just now. Have been live on Oanda the second day now.

My IBFX demo never went above 241.25, so Oanda pretty much hit it out of the park on that one..
Trust price. Know yourself.
  • #32
  • May 24, 2007 8:55am May 24, 2007 8:55am
Quoting SeekingLight
Actually I meant cent precision, i.e. putting in 1 cent or 10 etc pp directly instead of having to calculate beforehand from units, which can be annoying.

As for the spread - just got spiked out of GJ as it went to 241.01/241.41 extremes during the durable goods just now. Have been live on Oanda the second day now.

My IBFX demo never went above 241.25, so Oanda pretty much hit it out of the park on that one..
Putting the actual value per pip will make the interface easier to use. But what I am thinking that the buying value is different from selling value may confuse some new user as he may think that that will be the final value per pip.


I got spiked out a few times during news too. This is one of the reason that make me thinking of changing to another broker. The other is disconnection during news. Other than that, I pretty like Oanda.

I only see 241.3+ during the news. Is there any difference from your chart? The time over here is +8GMT so the spike is around 20:30hrs.
Attached Image
  • #33
  • May 25, 2007 3:50am May 25, 2007 3:50am
Oanda spreads vs Currenex at time of news

Oanda
GBP/USD = 25
GBP/JPY = 25

Currenex
GBP/USD = 1
GBP/JPY= 2
Attached Image (click to enlarge)
Click to Enlarge Name: curr.jpg Size: 43 KB
  • #34
  • May 27, 2007 8:00am May 27, 2007 8:00am
I've been live with Oanda for nearly 8 months now. Just relatively small amounts still and here is what I think:

Spreads are great at anytime other than news. Typically they sit solid at lower than average rates. If you keep the actual spread values visible on the screen you can see the odd pip or two increase for some unknown reason, minutes later it will pop back down.

As for news, I don't think it's much of an option at this broker, depending on how you trade it. Up to 2 mins before the release the spreads jump to above average news spreads....20+ for a lot of popular pairs, but only the pairs directly affected by the news. Spreads normally drop back to normal levels in under 2-5 minutes, making a great situation for people who like to fade.

First 2 hours of the trading week (sunday night) spreads are all above 10-15.

Wednesday Eur/CHF had a 120 pip instant spike. It entered a limit trade and knocked me out in a split second. I was asleep at the time, but the beauty of Oanda is I had no worries it would get dealt with, 6 hours later I got an email and my account was refunded.

Although there are opinions that .1 pip movements are "dodgy" or shouldn't be trusted, I actually don't mind it. What I mean is the price moves down to .1 of a pip, rather than only entire pips. I can see how people could see it gives the broker some wiggle room to hit stops, but I've yet to notice any pattern, I've escaped stop outs with .1-.3 pips to spare, and I've been knocked out by .1 pips.

Since it's just an opinion on spreads and pips, I'll leave it at that, but my general feeling of Oanda after 8 months is...

Platform is somewhat generic, however from the business end there has yet to be any reason at all to leave this broker.
  • #35
  • May 28, 2007 4:05pm May 28, 2007 4:05pm
I've traded with Oanda for 4 years now and am a full time trader. I have been very happy with their services, however, I do look forward to some of the upcoming features being developed such as trailing stops.
  • #36
  • May 28, 2007 4:09pm May 28, 2007 4:09pm
Quoting ForexCoach
I've traded with Oanda for 4 years now and am a full time trader. I have been very happy with their services, however, I do look forward to some of the upcoming features being developed such as trailing stops.
I currently wish a new feature would be for old positions to have their stop size auto-widened for free(with Oanda paying the difference to the new size) at the same time as they readjust the spreads during newstime liberally.... :S

Trust price. Know yourself.
  • #37
  • May 30, 2007 2:59am May 30, 2007 2:59am
Oh for crying out loud.

I had a short EURJPY position on an HOUR before the JPY industrial production hit and a stop at 163.75. This was at least 7 pips above any prior bar high of the last 3 hours.
I go to bed, an hour later news hits, Oanda spikes spread to 163.80, my trade dies. I wake up, see it would be fine on a fixed spread broker, look to Oanda, can't find my position, realize they spiked it dead.

Second time within 10 days this has happened now - this is not encouraging.

Starting to feel cheated.

Attaching proof.
Attached Image
Trust price. Know yourself.
  • #38
  • May 30, 2007 3:59pm May 30, 2007 3:59pm
The have spiked my stopsverymany times too, but never fulfilled my limits on my limit orders.
  • #39
  • Jun 8, 2007 12:52pm Jun 8, 2007 12:52pm
Stops and limits work 100% so far and are filled within 1 second. The spread spiking I actually got around this week by trading carefully.

But uh, doesn't Oanda carry NZDJPY? Can't find it..
Trust price. Know yourself.
  • #40
  • Jun 8, 2007 12:56pm Jun 8, 2007 12:56pm
This is quite amazing. It will help all the traders a lot.
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