What's Up With Oanda's Spreads? | Forex Factory

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What's Up With Oanda's Spreads?

  • #1
  • First Post: Aug 16, 2007 3:23pm Aug 16, 2007 3:23pm
I've been with Oanda now just over 2 months, and have had no probs other than the server being down a couple of times (One of those being a couple of hours ago).
I also know how their spreads fluctuate at different times of day and on weekends. Maybe its just me , but it seems the last 3 or 4 Thursdays, their spreads are close to weekend rates...
The liquidity in the market seems to be normal if not a little bit higher. They state the only reason their spreads change is due to low liquidity or news release.
So why would they be so high NOW?
GBP/JPY-15
GBP/USD-10
NZD/USD-20

Just to name a few.......
  • #2
  • Aug 16, 2007 3:28pm Aug 16, 2007 3:28pm
Quoting P-hill-IP
The liquidity in the market seems to be normal if not a little bit higher.
Really? How do you know market liquidity? I'd say it's as low as it gets in a 24 hour period, no major financial center is open. Check this out: http://fxtrade.oanda.com/resources/fxmarkethours/

And Tokyo only opens in ~90 minutes..
  • #3
  • Aug 16, 2007 3:29pm Aug 16, 2007 3:29pm
I just attribute it to volitility. GBPJPY was making 200+ pip movements in the 5min. I'm just glad they did jack the spread to 50 pips. Would of been nice if i could have accessed Oanda when i wanted to trade...
  • #4
  • Aug 16, 2007 3:39pm Aug 16, 2007 3:39pm
Stefant,

I also identify liquidty with volume. And by my charts It's not that different than yesterday afternoon. But their spreads are much different.

Sorry, should have explained more thoroughly.
  • #5
  • Aug 16, 2007 3:41pm Aug 16, 2007 3:41pm
Quoting P-hill-IP
I also identify liquidty with volume.
Where can you see volume in forex?
  • #6
  • Aug 16, 2007 3:48pm Aug 16, 2007 3:48pm
If you happen to use metatrader charts, look at 1 hr candle (for example), hold your cursor over candle, it should tell you open, low, high, and at the very bottom volume...


Hope this helps.
  • #7
  • Aug 16, 2007 3:54pm Aug 16, 2007 3:54pm
Man, I know MT and MQL for a pretty long time, believe me. There's no such thing as volume in forex. Or at least it's not the same thing as volume in stocks.

There's no central exchange in forex so you can't really know the volume. What that volume indicator in MT only does is to count the number of ticks in that specific candle. That's all. Pretty useless if you ask me.

And let's say you *could* see the volume traded at your broker in MT. It can be significantly different from the volume traded at Oanda. But really, there's no volume indicator in forex. There's no central exchange. There are just big players that get their orders matched in platforms like Reuters or Currenex.
  • #8
  • Aug 16, 2007 6:19pm Aug 16, 2007 6:19pm
I understand it's been a very volatile day, but it seems every 5 min or so the spreads are changing...


This is CRAZY!!

  • #9
  • Aug 16, 2007 7:00pm Aug 16, 2007 7:00pm
Hey all,

Did any one LOSE any standing limit orders today with Oanda???

I had one placed at 112.50 to buy 50k usd/jpy with a TP target of 114.00, it was set to expire Sept 1st....This is August 16th. It was a ONE Month GTC.

I checked this morning...US EDT at 0500am & it was there, it is now 2156pm....I am starting my evening to look over my charts, and noticed the low of the usd/jpy....Yet NO fill, and the "box" where limits are shown on the charts is gone. I should have been filled in the 1230p to 1300p time frame...give or take a few minutes.

This is a LIVE Account...

Thx
Proper Prior Planning Prevents Piss Poor Performance
  • #10
  • Aug 17, 2007 4:23am Aug 17, 2007 4:23am
FXJarhead: They disabled the account-history, so no trades show up on the chart at all. If you had bounds set, it is likley that a had a "boundary violation", gbp/jpy did jump for 10-20 pips at a time permanently recently. If it was indeed an error, and you should have been executed, i would contact CS, they usually fix this (i had both profitable trades and losses undone in the past on spikes and such).
  • #11
  • Aug 17, 2007 9:01am Aug 17, 2007 9:01am
Quoting shrike
FXJarhead: They disabled the account-history, so no trades show up on the chart at all. If you had bounds set, it is likley that a had a "boundary violation", gbp/jpy did jump for 10-20 pips at a time permanently recently. If it was indeed an error, and you should have been executed, i would contact CS, they usually fix this (i had both profitable trades and losses undone in the past on spikes and such).
THX Shrike,

I have contacted CS....they are "looking into it". I had no boundaries set....thing is, the order even disappeared from my order log....????
Proper Prior Planning Prevents Piss Poor Performance
  • #12
  • Aug 17, 2007 9:48am Aug 17, 2007 9:48am
Quoting FxJarhead
Hey all,

Did any one LOSE any standing limit orders today with Oanda???

I had one placed at 112.50 to buy 50k usd/jpy with a TP target of 114.00, it was set to expire Sept 1st....This is August 16th. It was a ONE Month GTC.

I checked this morning...US EDT at 0500am & it was there, it is now 2156pm....I am starting my evening to look over my charts, and noticed the low of the usd/jpy....Yet NO fill, and the "box" where limits are shown on the charts is gone. I should have been filled in the 1230p to 1300p time frame...give or take a few minutes.

This is a LIVE Account...

Thx
Check your full transaction history for the 16 and 17th
  • #13
  • Aug 17, 2007 10:03am Aug 17, 2007 10:03am
Quoting P-hill-IP
I've been with Oanda now just over 2 months, and have had no probs other than the server being down a couple of times (One of those being a couple of hours ago).
I also know how their spreads fluctuate at different times of day and on weekends. Maybe its just me , but it seems the last 3 or 4 Thursdays, their spreads are close to weekend rates...
The liquidity in the market seems to be normal if not a little bit higher. They state the only reason their spreads change is due to low liquidity or news release.
So why would they be so high NOW?
GBP/JPY-15
GBP/USD-10
NZD/USD-20

Just to name a few.......
This has to do w/ the extreme volatility any time of extreme volatility IE NFP you will see low liquidity = higher spreads this is being seen across muti-bank platforms as well and I have even heard of a few retail brokers increasing their % margin requirements.
  • #14
  • Aug 17, 2007 11:24am Aug 17, 2007 11:24am
I hate to think what could be happening with live accounts when I still haven't been able to get on my demo platform yet.
  • #15
  • Aug 17, 2007 12:23pm Aug 17, 2007 12:23pm
Quoting Pipkingdom
I hate to think what could be happening with live accounts when I still haven't been able to get on my demo platform yet.
Would you guys like a little cheese with your wine?

Even platforms like CNX and Hotspotfxi have gone down and people are placing 1mil+ lots on those. This is why its good to have broker w/ both a dealing desk and direct access to muti-bank. Cause then you can just do pick up the phone.

Welcome to the world of technology.
  • #16
  • Aug 18, 2007 7:37am Aug 18, 2007 7:37am
Just need some input from anyone with a live account at Oanda... I still havent heard from anybody at Oanda and still can't log in to my account.
  • #17
  • Aug 18, 2007 7:54am Aug 18, 2007 7:54am
I am able to log in to my live Oanda account. But there are still some irregularities. There is no data in the activity list and trades do not show up on the chart.

Try the forums at Oanda for more information.
  • #18
  • Aug 18, 2007 8:53am Aug 18, 2007 8:53am
Quoting Pipkingdom
Just need some input from anyone with a live account at Oanda... I still havent heard from anybody at Oanda and still can't log in to my account.
Contact them via their live chat
  • #19
  • Aug 18, 2007 3:43pm Aug 18, 2007 3:43pm
Quoting BlackMage
I am able to log in to my live Oanda account. But there are still some irregularities. There is no data in the activity list and trades do not show up on the chart.
Although I can login to FXtrade and I can see the chart, my activity list has been disappeared for several days. But interest on deposits and interest swaps seem to be paid as far as I can see.

Recently, when buying at the market, suddenly Oanda displayed "warning" (transaction error massage). I thought Oanda's server couldn't execute this market order at this time though, actually, the market order was transacted after re-login....
Peace and Happiness through Prosperity (by Konosuke Matsushita)
  • #20
  • Aug 18, 2007 4:09pm Aug 18, 2007 4:09pm
Quoting Fumafuma
Although I can login to FXtrade and I can see the chart, my activity list has been disappeared for several days. But interest on deposits and interest swaps seem to be paid as far as I can see.

Recently, when buying at the market, suddenly Oanda displayed "warning" (transaction error massage). I thought Oanda's server couldn't execute this market order at this time though, actually, the market order was transacted after re-login....
My understanding standing is they have disabled a view features why they fix the problem but all your trades should appear under

Account / Full Transaction History
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