Oanda 10pip Friday afternoon spreads?? | Forex Factory

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Oanda 10pip Friday afternoon spreads??

  • #1
  • First Post: Dec 15, 2006 3:04pm Dec 15, 2006 3:04pm
I just opened an account with Oanda yesterday.

Is it common practice for them to widen the spreads to 10 at this time of the day OR this time of the day on Friday's? It's 3:05pm (CST) as I post this.
  • #2
  • Dec 15, 2006 3:12pm Dec 15, 2006 3:12pm
I am on Oanda right now and I noticed that 2....at 1:45 the spreads turned from like 2 pips to 10 pips.

I have seen other posts about this...aparantly it happens on all brokers from time to time...another guy had a 32 pip spread.
  • #3
  • Dec 15, 2006 3:22pm Dec 15, 2006 3:22pm
Quoting bugscoe
I just opened an account with Oanda yesterday.

Is it common practice for them to widen the spreads to 10 at this time of the day OR this time of the day on Friday's? It's 3:05pm (CST) as I post this.
It's a common practice. Don't worry about it coz on Sunday afternoon or evening, the spread will go back to normal.
"Even the word impossible says that I M possible"
  • #4
  • Dec 17, 2006 6:36pm Dec 17, 2006 6:36pm
Well, it's Sunday night, 6:35pm CST and I still have 10 pip spreads! WTF?

I'm quickly deciding that Oanda will not be living up to all the positive feedback I've read about.
  • #5
  • Dec 17, 2006 6:59pm Dec 17, 2006 6:59pm
Well, it looks like 7:00pm is the magic hour on Sunday as now the pips are just about back to normal.
  • #6
  • Dec 18, 2006 1:34am Dec 18, 2006 1:34am
Quoting bugscoe
Well, it looks like 7:00pm is the magic hour on Sunday as now the pips are just about back to normal.
Liquidity on the market is very thin late Friday's. When the market dries up, Oanda raises their spreads. At that point, its not worth trading anyway. Hang on to your money until Monday.

GF
  • #7
  • Dec 18, 2006 2:14am Dec 18, 2006 2:14am
Quoting bugscoe
Well, it's Sunday night, 6:35pm CST and I still have 10 pip spreads! WTF?

I'm quickly deciding that Oanda will not be living up to all the positive feedback I've read about.
It's just normal weekend rates. Be happy you have a chance to trade on the weekends to get out of a position. Most brokers close down...

It's ten pips because of liquidity...
Mr. Trend
  • #8
  • Dec 18, 2006 8:46am Dec 18, 2006 8:46am
OANDA prints all of our spreads for the last 7 days so you can see exactly what spreads have been during which hours and as others have already said spreads increase during weekends due to illiquidity in the market.
Andres OANDA Corporation
  • #9
  • Dec 18, 2006 12:35pm Dec 18, 2006 12:35pm
Thanks for all the replies guys! All is well now and I'm liking my experience so far. I only opened account with a very small amount so I could get a feel for the fills and speed of execution with live acct. So far all is good.
  • #10
  • Dec 18, 2006 12:40pm Dec 18, 2006 12:40pm
Quoting bugscoe
Thanks for all the replies guys! All is well now and I'm liking my experience so far. I only opened account with a very small amount so I could get a feel for the fills and speed of execution with live acct. So far all is good.
You won't be disappointed. Oanda is one of the, if not the, best non-ECN broker out there for non-news trading.
Mr. Trend
  • #11
  • Dec 18, 2006 12:46pm Dec 18, 2006 12:46pm
Quoting AndresS
OANDA prints all of our spreads for the last 7 days so you can see exactly what spreads have been during which hours and as others have already said spreads increase during weekends due to illiquidity in the market.
Hey AndresS!

You have Oanda Corporation under your name and I am assuming you work for this company. Can you show us the spread pattern that you were describing and tell us if this is a common amount of movement at the same time frames of the week?

Thanks for your assistance in advance!
  • #12
  • Dec 18, 2006 12:58pm Dec 18, 2006 12:58pm
WHTenn,

I don't think I'm allowed to link to our site directly but if you go to it yourself and look for the "Recent Spreads" page or do a google search for it you should find it.

As for whether it's common, that really depends on what market events are occuring that week and can very from week to week.

Please let me know if you don't find it and I'll try and help you further.
Andres OANDA Corporation
  • #13
  • Last Post: Dec 18, 2006 3:39pm Dec 18, 2006 3:39pm
Here is the link tha Andres is speaking of:
http://fxtrade.oanda.com/spreads/recent_spreads.shtml
Quoting AndresS
WHTenn,

I don't think I'm allowed to link to our site directly but if you go to it yourself and look for the "Recent Spreads" page or do a google search for it you should find it.

As for whether it's common, that really depends on what market events are occuring that week and can very from week to week.

Please let me know if you don't find it and I'll try and help you further.
In trading, there is no bullshit. You either make money or you don't.
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