i know that oanda spread is not fixed but this is the first time i saw eurusd spread on oanda drops to 1 pip! even spread on usdjpy drops to 2 pips!
any comment?
any comment?
- Joined Jul 2006 | Status: Charts + PA > * | 3,251 Posts
I'm still highly distrustful of OANDA after it turned out their 200 pip spread spike on NFP was - and this is the scary part - a mistake entering A MANUALLY MANIPULATED SPREAD. It would appear the guy entered 200 instead of 20 - which in turn just means they manually widen their spread artificially on news as opposed to their "we're just mirroring the market" claims.
If you're trading at any time on a news day this basically amounts to just another type of stop hunting by simply widening the "bashing radius" of the spread if you ask me.
This practice has made me highly distrustful of Oanda. Now I know it isn't fun to have 80% of your customers abuse your system with newstrading, but if what you do also means stopping out position or intraday traders for no good reason (i.e. artificially made prices) then I can't endorse that either.
I mean, christ, "we made a mistake ENTERING the spread"...that alone...
Also I've looked at their spread history on cable, is it normal that the average spread is 4-8 pips during any given day? And by far worse on news days it would appear, and not just DURING news, but simply during the day with 3-4 red news items.
I really like a lot of interface features they have (although I don't know why they have to use 3 instead of 4 hours) like the units or % defaults, but I believe they don't have TS and those spread tinkerings leave one with a very sour taste...anyone with deeper info on all this?
And am I the only one who thinks it's deeply cynical to claim 1$ trading and then charge 40 for withdrawals?
Bit like "Yea you can trade with small money with us, you just won't ever see it again. Think of it like paying to go see the movies!"
If you're trading at any time on a news day this basically amounts to just another type of stop hunting by simply widening the "bashing radius" of the spread if you ask me.
This practice has made me highly distrustful of Oanda. Now I know it isn't fun to have 80% of your customers abuse your system with newstrading, but if what you do also means stopping out position or intraday traders for no good reason (i.e. artificially made prices) then I can't endorse that either.
I mean, christ, "we made a mistake ENTERING the spread"...that alone...
Also I've looked at their spread history on cable, is it normal that the average spread is 4-8 pips during any given day? And by far worse on news days it would appear, and not just DURING news, but simply during the day with 3-4 red news items.
I really like a lot of interface features they have (although I don't know why they have to use 3 instead of 4 hours) like the units or % defaults, but I believe they don't have TS and those spread tinkerings leave one with a very sour taste...anyone with deeper info on all this?
And am I the only one who thinks it's deeply cynical to claim 1$ trading and then charge 40 for withdrawals?
Bit like "Yea you can trade with small money with us, you just won't ever see it again. Think of it like paying to go see the movies!"
Trust price. Know yourself.
I’ll give some positive comments about Oanda. I’ve been trading live with Oanda since March 2006. Because of the way I trade, stop hunting and/or spread widening does not affect me, so I’m very happy with Oanda. On the other hand, I don’t care for their charts, so I use MetaTrader. I would also like to see more features added to help analyze my trading performance. I’ve also never been charged for withdrawals. I guess it’s because I request withdrawals by check every last Sunday of each month so I’ll have the check by the end of week. Hopefully someone is listening and things will improve for everyone.
Happy Trading …
Happy Trading …
If it is not broken, fix it until it is!
I'm still highly distrustful of OANDA after it turned out their 200 pip spread spike on NFP was - and this is the scary part - a mistake entering A MANUALLY MANIPULATED SPREAD. It would appear the guy entered 200 instead of 20 - which in turn just means they manually widen their spread artificially on news as opposed to their "we're just mirroring the market" claims.
If you're trading at any time on a news day this basically amounts to just another type of stop hunting by simply widening the "bashing radius" of the spread if you ask me.
This practice has made me highly distrustful of Oanda. Now I know it isn't fun to have 80% of your customers abuse your system with newstrading, but if what you do also means stopping out position or intraday traders for no good reason (i.e. artificially made prices) then I can't endorse that either.
I mean, christ, "we made a mistake ENTERING the spread"...that alone...
Also I've looked at their spread history on cable, is it normal that the average spread is 4-8 pips during any given day? And by far worse on news days it would appear, and not just DURING news, but simply during the day with 3-4 red news items.
I really like a lot of interface features they have (although I don't know why they have to use 3 instead of 4 hours) like the units or % defaults, but I believe they don't have TS and those spread tinkerings leave one with a very sour taste...anyone with deeper info on all this?
And am I the only one who thinks it's deeply cynical to claim 1$ trading and then charge 40 for withdrawals?
Bit like "Yea you can trade with small money with us, you just won't ever see it again. Think of it like paying to go see the movies!"
The claim at Oanda is that everything is 100% automated, which would presumably include the transactions and rates with their partner banks. But it was always suspect to me how they could raise the spreads to exactly 20 pips on GBPUSD during news releases and sometimes for 10 minutes still after the release! Now, those spread increases rarely affected me (except a few with AUDUSD and of course, the famous 200 pip GBPUSD spread), but it clashes so obviously with the claims Stumm would make after these events and he finally deigned answer the complaints.
So, you add the manual super-spreads Oanda institutes during news PLUS the slippage, and you get a picture that’s far from the one they paint. In fact, I actually had a EURUSD trade exact a loss when the TP was set to 20 pip profit due to slippage! The funny thing is there are many posters who claim to never experience any slippage. So, either they are shills or accounts are processed differently, which again, supposes someone is intervening with some kind of flag on individual accounts…
- | Joined May 2006 | Status: Member | 381 Posts
how do you figgure that?
If you trade at oanda you are trading at their prices.
Hi!
Yes, Oanda does charge 1,5 pips for eur/usd, but very often you don't get the price you see.
There's a significant delay sometimes....and as dunningduke said:
Open the order window and compare what they quote you to the bid/ask they advertise underneath your account summary.
Greetings,
Sassa
{link removed, see rule #3}(german)
Yes, Oanda does charge 1,5 pips for eur/usd, but very often you don't get the price you see.
There's a significant delay sometimes....and as dunningduke said:
Open the order window and compare what they quote you to the bid/ask they advertise underneath your account summary.
Greetings,
Sassa
{link removed, see rule #3}(german)
- | Joined Dec 2006 | Status: Member | 25 Posts
Open the order window and compare what they quote you to the bid/ask they advertise underneath your account summary.
Mine matches right down to the 'pipette'.