Oanda's NOT a matching engine...? | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

Pepperstone Razor Average Spreads Not Matching Live Data? 24 replies

Oanda users - Oanda widening spreads 62 replies

Trend Lines Not Matching Up 4 replies

OANDA Canada vs OANDA Corp. 4 replies

Oanda's NOT a matching engine...?

  • #1
  • First Post: Dec 30, 2007 5:07am Dec 30, 2007 5:07am
From their webpage: http://fxtrade.oanda.com/about/about_fxtrade.shtml

Quote
Our proprietary FXTrade Platform is a fully automated trading platform in which we play the role of market-maker. Our platform is not an auctioning system in which a trader must request a price from a pricing source and then make a buy/sell decision based on the quote offered. Nor is it a matching engine where a trade is executed only if both sides of the trade can be filled at the time of the buy/sell request.
Until now, I've always thought this matching engine was how all dd's operated, with net exposure hedged with banks.

So is this telling me that Oanda will ALWAYS take on your trade, so it means better liquidity (non-news/political blah blah/weekend)?
  • #2
  • Dec 30, 2007 1:15pm Dec 30, 2007 1:15pm
I've been with Oanda for going on 7 years. They will ALWAYS execute your trade no matter what. No requotes. The only question is the spread or slippage. Sometimes in fast markets the price changes so fast (like 10-15 times a second) your computers at home doesn't see all the changes. This will appear as slippage unless you have "bounds" set to stop the slippage.

So yes they will always take your trade up to 10M base currency units. They will undo trades done on spikes. There was a spike on euro down about 600 pips a while back. Lots freaked out as their account showed margin calls. Everything was fixed within hours.
  • #3
  • Dec 30, 2007 2:07pm Dec 30, 2007 2:07pm
And AMEN to brokers like that... !!! You didn't even have to call in to get it fixed....


Quoting JustLookin
I've been with Oanda for going on 7 years. They will ALWAYS execute your trade no matter what. No requotes. The only question is the spread or slippage. Sometimes in fast markets the price changes so fast (like 10-15 times a second) your computers at home doesn't see all the changes. This will appear as slippage unless you have "bounds" set to stop the slippage.

So yes they will always take your trade up to 10M base currency units. They will undo trades done on spikes. There was a spike on euro down about 600 pips a while back. Lots freaked out as their account showed margin calls. Everything was fixed within hours.
  • #4
  • Dec 30, 2007 2:40pm Dec 30, 2007 2:40pm
Quoting JustLookin

So yes they will always take your trade up to 10M base currency units. They will undo trades done on spikes. There was a spike on euro down about 600 pips a while back. Lots freaked out as their account showed margin calls. Everything was fixed within hours.
That's really awesome. I hope you don't mind my asking, but how's the deposit/withdraw process? Are you based in US or international?

Also, just to make sure, but I've been told that Oanda doesn't have their own trading house? So stop-hunting by them is something not to worry as much as other brokers?
  • #5
  • Last Post: Dec 30, 2007 3:00pm Dec 30, 2007 3:00pm
I'm in the US. I've always done wires. So I've never had problems.

I've not had much experience with other brokers as I quit them all years ago so I can't really compare. They don't have a dealing desk as far as I know and everything is computerized and their hedging of positions is computerized.

Having said that, there is a thread on their forum with a guy claiming Oanda is a bucket shop that hunted his stop in gold. I've never had any problems like that.
0 traders viewing now