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Oanda users - Oanda widening spreads 62 replies

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Quoting socialtrader
You skipped one step in this. You should be looking for a dealer that does business in Canada to be registered with IIROC.

All IIROC (former IDA) firms are automatically members of CIPF, which insures client accounts up to $1 million.

Oanda is not a member of either. It operates within its comfort zone. Who knows what the future holds, though.
Also at UK the FSA give some protection , but i want to ask u is this protection for non canadian as well ?
Aaaaaaargh!!!!!

Last week or two the connection problems at least around the US session started getting rediculous again!! Like last summer. Except then I had supposedly (internet providers suck too because the connection speed goes down a lot during busier hours) a 1.5Mbit connection and now it's 5Mbit. Just missed a 15-20 pip profit trade because of this BS. I mean CUMMON !! All I wanna do is some fair and square ordinary trading with around a 1 pip spread. Is that too much to ask ?!?!

Ah... rants are good for the nerves sometimes...
Seriously though I don't understand why on Earth is it so difficult to have a normally functioning platform, if Java doesn't work well then try something else like other brokers with programs you install or something. Do I need to get a whole server type connection or something to be able to trade whenever I want ? (News excluded, they can shut it off alltogether during news for all I care)

Sucks...
On the path to Enrichment.
lol Just to be fair. About a quarter of an hour after I posted the connection started working ok again and has done so for the past hour and a half I think. Sure made more than 20 pips since then too ... Weird, it's like they tracked me down and upgraded my connection so I won't rant on or something.. LOL
On the path to Enrichment.
i just got off the phone w/ an oanda rep. oanda is registered in the u.s. & not canada & that is why they arent apart of the iiroc/cipc. but the guy did tell me that they are planning on registering in the uk (no eta at this time) & thus becoming fsa certified & therefore qualify for fscs. he also said that anyone can transfer their accts over there at that time and thus qualify for the fscs. oanda singapore is mandated by the msa. so i think every year here in the u.s. we get closer & closer to funds ins protection w/ newer & newer nfa/cftc standards. all good to know, but still i am not finding any reason not to go w/ them. the only negatives i see are from scalpers & newsies.
Quoting dkmb92
i just got off the phone w/ an oanda rep. oanda is registered in the u.s. & not canada & that is why they arent apart of the iiroc/cipc. but the guy did tell me that they are planning on registering in the uk (no eta at this time) & thus becoming fsa certified & therefore qualify for fscs. he also said that anyone can transfer their accts over there at that time and thus qualify for the fscs. oanda singapore is mandated by the msa. so i think every year here in the u.s. we get closer & closer to funds ins protection w/ newer & newer nfa/cftc standards....
this is good news i hope so , cuz without funds protection it will be unrealistic to deposit large amounts with them or with any other marketmaker doesnt offer protection . check the link :

http://www.fscs.org.uk/consumer/key_...sation_limits/
so upon further research i come to discover mf global is apart of iiroc & thus cipf? anyone have any experience w/ them?
Quoting dkmb92
so upon further research i come to discover mf global is apart of iiroc & thus cipf? anyone have any experience w/ them?
arent they a white label for fxcm ? i mean their fx section ...
  • Post #48
  • Quote
  • Edited 7:46pm Apr 23, 2009 4:50pm | Edited 7:46pm
Hey all!
My name is Vitaly.
I would like to clarify some questions about the registration process at Oanda:

I want to open an account at Oanda individual i.e. for himself.
- Which documents Oanda require in the registration process account FXTrade?

- I want to register for Russian Federation passport but my bank account, which I want to point, registered in Cyprus.
Will Oanda to demand from me further documents from of Russian Federation tax, know whether the tax authorities of the existence of my account abroad?

- Have someone who is sending money through the FX Globaltransfer and if so what documents
Oanda requests when sending money?
Here I am interested - Will Oanda to demand from me further supporting documents (type invoice, invoice for payment) if I want to send money from 10 000 to 50 000 $ for my business partners in other countries.

Thank you in advance for your reply.

Sincerely, Vitaliy.
The festival, which is always with you.
oanda is one of the best broker i have seen... i'm not a big fan of their platform and i also dont like the fact that they dont have a referral system. I find this as a nice and trusted place to park my funds.
Going Demo for few weeks now....

Good thing obviously is their pretty Low spread of 0.9-1.5 in EURUSD.. and from today... i m seeing just a 1.0 pip spread in EURGBP.... Worst part obviously is their platform... in fact, i've nvr seen anything good that can come out of Java... (Call me racist or anything, ) .. I believe, if u wanna trade with Oanda, u better stay near to some good cyber cafe, or some other PC connected to a different line than ur ISP..... and have their 15 MB Java RTE on the pocket....

I dont trade news and any high volatility time... so apart from that oanda seems quite OK,, specially the spread part is just unbeatable... also, as there r some concern regarding funds, then i think it is better to Withdraw on a regular basis may be once in every 10 days or something...

BTW execution speed is good too... but i have a sneaky feeling that they actually manipulate the exchange rate on their chart, cause the movements don't always match with metatrader....

All in all seems OK to me, worth opening a small account and giving a try,,,, !
Quoting tar
arent they a white label for fxcm ? i mean their fx section ...
regardless, i think i still feel better going w/ oanda.
Quoting Vitalikf1
Hey all!
My name is Vitaly.
I would like to clarify some questions about the registration process at Oanda:

I want to open an account at Oanda individual i.e. for himself.
- Which documents Oanda require in the registration process account FXTrade?

- I want to register for Russian Federation passport but my bank account, which I want to point, registered in Cyprus.
Will Oanda to demand from me further documents from of Russian Federation tax, know whether the tax authorities of the existence of my account abroad?

- Have someone who is sending...
have you contacted oanda to find the answers to your questions?
Quoting forexman2010
oanda is one of the best broker i have seen... i'm not a big fan of their platform and i also dont like the fact that they dont have a referral system. I find this as a nice and trusted place to park my funds.
what is a referral system?
Quoting AsiF5566
Going Demo for few weeks now....

Good thing obviously is their pretty Low spread of 0.9-1.5 in EURUSD.. and from today... i m seeing just a 1.0 pip spread in EURGBP.... Worst part obviously is their platform... in fact, i've nvr seen anything good that can come out of Java... (Call me racist or anything, ) .. I believe, if u wanna trade with Oanda, u better stay near to some good cyber cafe, or some other PC connected to a different line than ur ISP..... and have their 15 MB Java RTE on the pocket....

I dont trade news and any high...
so far i actually like their platform. it is simple & staighforward to use. the biggest grip i have is their timeframes. they only have 3h & daily. i contacted them to inquire about it & request they add a 6h, maybe 12h, & a weekly. they said that is their most popular request after implementing a trailing-stop (which i dont care about) & that their programming dept is looking into it. i dont know anything about programming, so will you please tell me what does "15 mb java rte in the pocket," mean?
as far as spread manipulation, you think oanda is the one doing that over all mt4 brokers? on average oanda's spreads are lower than all mt4 brokers, most of which who give you "fixed spreads." so what does that tell you? i think they are more of a true reflection of interbank prices. i do use mt4 demo feeds for charting/analysis (ibfx, fxpro, alpari uk), but then do my actual trading thru oanda.
and in the end my top concern is safety of funds & no mt4 broker comes anywhere near topping oanda there. no retail spot fx broker does for that matter.
I have been with Oanda since I started trading a few years back, and I am very happy with them. If anything I would like to have weekly charts but that may come later.
Quoting bluemonkey
I have been with Oanda since I started trading a few years back, and I am very happy with them. If anything I would like to have weekly charts but that may come later.
Hi blue,

Do you mostly place market orders or limit/stop Entries?
Quoting dkmb92
so far i actually like their platform. it is simple & staighforward to use. the biggest grip i have is their timeframes. they only have 3h & daily. i contacted them to inquire about it & request they add a 6h, maybe 12h, & a weekly. they said that is their most popular request after implementing a trailing-stop (which i dont care about) & that their programming dept is looking into it. i dont know anything about programming, so will you please tell me what does "15 mb java rte in the pocket," mean?
as far as spread manipulation, you think oanda...

It just mean the java RunTime Environment that u've to install in the PC for their FXDesktop.... in case of emergency, it is always good to have it on hand instead of searching and installing it...
Quoting dkmb92
have you contacted oanda to find the answers to your questions?
No yet.
I would like to know on the forum.
The festival, which is always with you.
Quoting bluemonkey
I have been with Oanda since I started trading a few years back, and I am very happy with them. If anything I would like to have weekly charts but that may come later.
it should hopefully be sooner than we think. the rep last night said it is then 2nd thing on the agenda after trailing stops for the progammers. i for one am going to check w/ them on a weekly basis as to the progress of it.
Quoting AsiF5566
It just mean the java RunTime Environment that u've to install in the PC for their FXDesktop.... in case of emergency, it is always good to have it on hand instead of searching and installing it...
does this just mean always having the latest version of jave installed?
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