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Oanda large accounts

  • #1
  • First Post: Nov 4, 2007 12:13am Nov 4, 2007 12:13am
hey i was wondering if anyone has large accounts with oanda? maybe 5-6 figures. Are there price manipulations or anything involved with such large accounts?

thanks
  • #2
  • Nov 4, 2007 7:59am Nov 4, 2007 7:59am
there shouldn't be any problems but you can better find out if you ask this over at oanda's forum.
  • #3
  • Nov 6, 2007 12:20am Nov 6, 2007 12:20am
Quoting Mk4x
hey i was wondering if anyone has large accounts with oanda? maybe 5-6 figures. Are there price manipulations or anything involved with such large accounts?

thanks
From our dealings with various traders who want to trade for us (and other money managers who have), I feel that Oanda does "manipulate" the price somewhat. Nevertheless, they are probably the best market-maker out there to set up an account with. My personal opinion is to go with an ECN, commission-based model once you're dealing with a 5 or 6 figure account.
  • #4
  • Nov 6, 2007 1:56am Nov 6, 2007 1:56am
I have a 5 figures account with them and I'm happy with Oanda.

Regards - Xaron
  • #5
  • Nov 6, 2007 2:42pm Nov 6, 2007 2:42pm
no problems what so ever with oanda.
Trading for a living!
  • #6
  • Nov 6, 2007 2:57pm Nov 6, 2007 2:57pm
The more frequently you trade (scalping, etc.), the more you will get slipped. Their feeds lags behind the real market sometimes too, which is common for dealing desk feeds.
  • #7
  • Nov 6, 2007 3:04pm Nov 6, 2007 3:04pm
Yep, but they don't have a dealing desk - not a classic one.

For my trading style it's ok. I don't scalp, I do grid trading with lots of limit orders (should have a 100KT status. *gg*). My fills are most of the time perfect as well as my take profits. I have bigger problems with my MT4 broker than with Oanda...

Regards - Xaron
  • #8
  • Nov 6, 2007 8:37pm Nov 6, 2007 8:37pm
Quoting Xaron
Yep, but they don't have a dealing desk - not a classic one.

For my trading style it's ok. I don't scalp, I do grid trading with lots of limit orders (should have a 100KT status. *gg*). My fills are most of the time perfect as well as my take profits. I have bigger problems with my MT4 broker than with Oanda...

Regards - Xaron
Xaron, I agree with you. For your style they're OK - but I'm getting more and traders complaining about them. I personally think that trading with them (or anyone else) using market orders is nuts. But you're right, compared to the MT4 bucket shops, they're better.
  • #9
  • Nov 6, 2007 8:51pm Nov 6, 2007 8:51pm
What are the complaints you are hearing?
  • #10
  • Nov 7, 2007 12:20am Nov 7, 2007 12:20am
The only complaints I know are concerning the spread widening during news. I have to say that most of the complainers have no real clue how things going on in the forex market. Spread widening and slippage are common things...

The only real complaint I ever had was a filled limit order where the price never reached the order but was filled anyway: http://www2.oanda.com/cgi-bin/msgboa...;f=17;t=003585

But Oanda did react very fast and credited the loss to my account.

Regards - Xaron
  • #11
  • Nov 7, 2007 5:43am Nov 7, 2007 5:43am
Quoting Xaron
The only complaints I know are concerning the spread widening during news. I have to say that most of the complainers have no real clue how things going on in the forex market. Spread widening and slippage are common things...

The only real complaint I ever had was a filled limit order where the price never reached the order but was filled anyway: http://www2.oanda.com/cgi-bin/msgboa...;f=17;t=003585

But Oanda did react very fast and credited the loss to my account.

Regards - Xaron
I'm not talking about spread widening during news. That happens everywhere (even on institutional hubs); even though the widening of spreads at a dealing desk (market making) firm is completely artificial. What I mean by that is that it is a result of a the manipulation of the broker. That's why you see the spreads stay widened even minutes after the actual release. That rarely ever happens on an institutional hub where you have banks and other financial institutions posting prices. It is true that banks pull liquidity during significant news releases. This causes the spreads to widen somewhat - but this action is far from predictable and the spreads come back to normal quickly.

The problems I am talking about occur during non news times if you trade active enough - such as frequently getting slipped a few pips when the market isn't moving much, having the price lag the "normal" market, etc.
  • #12
  • Nov 7, 2007 6:29am Nov 7, 2007 6:29am
Well, yes. If you scalp I would avoid any market maker. But using limit orders they can't play that kind of game with you.

Regards - Xaron
  • #13
  • Nov 7, 2007 6:55am Nov 7, 2007 6:55am
Quoting Xaron
Well, yes. If you scalp I would avoid any market maker. But using limit orders they can't play that kind of game with you.

Regards - Xaron
Using limit, fill-or-kill (FOK), or FOK+Limit is definitely the way to trade on any platform. That will prevent getting slipped, but it still won't make you immune to missed opportunities as a result of missing a fill that you shouldn't have because the market maker manipulated the price (delaying the feed, etc.).
  • #14
  • Nov 7, 2007 7:01am Nov 7, 2007 7:01am
Quoting Xaron
I have a 5 figures account with them and I'm happy with Oanda.

Regards - Xaron

you have a $99,999 a/c and you keep saying you have a small a/c ?

so far i've got caught out a couple times by oanda on the TRY pairs......150 pip spread ???
  • #15
  • Nov 7, 2007 7:11am Nov 7, 2007 7:11am
No, I have a €10,000 account there, so low 5 figures.

The TRY-pairs are real beasts. I don't trade them anymore...

Regards - Xaron
  • #16
  • Nov 7, 2007 8:28am Nov 7, 2007 8:28am
Quoting Xaron
No, I have a €10,000 account there, so low 5 figures.

The TRY-pairs are real beasts. I don't trade them anymore...

Regards - Xaron

just TRYing the TRY pairs lately....only a few thousand units for a TRY so won't get destroy my a/c.......waiting for the BIG BIG meltdown to sell more.........hoping/aiming to accumulate a total of 100,000 for both TRY pairs and i'll be satisfied.......

hopefully won't get too TRYing...........but the spread from oanda really too much..........
  • #17
  • Nov 7, 2007 8:34am Nov 7, 2007 8:34am
IMHO the spread is very fair for this pair.

Regards - Xaron
  • #18
  • Last Post: Nov 8, 2007 2:41am Nov 8, 2007 2:41am
hahah that means i cna trust my small money with them hahha!
thanks for the help!
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