Fxspyder and MM

Anyone used FXspyder? Thinking of using with "O" for a trading experiment I am currently running due to the ability to hedge etc.

My main account is with an ECN, but for a few trading methods I am using O on the side.

I have a few concerns.

Is this a true API?
What happens if their server link to O goes down? SL unable to be activated?
How reliable are they and how good is customer service etc?

I have looked for reviews on the FF forums but they seem quite old. Anyone trading using them with a live account?, and if so your experiences, "warts an all" would be appreciated.

There are some FxSpyder users over there at the Oanda forums. Maybe they can answer those questions.

As far as I know all orders are executed as market orders from the FxSpyder server, so you might have a problem if this server goes down as the stops aren't on Oanda's servers. But I could be wrong. Maybe there is an option to do that.

Thanks Xaron,

I will have a look. Would prefer advice form someone on here though, if any. Independent views, so to speak, instead of views posted on a broker managed forum.

Seems fxspyder may not be as common as I thought.

Happy trades

Their so called 'soft orders' are resting on your local computer and are not transmitted to the Oanda servers. That means Oanda doesn't 'see' your pending stop- or limit-orders, but if your computer goes down or you loose internet connectivity, these orders will not execute. You can however use the normal Oanda orders, that rest on their trading servers, too.

You can program a trading system using javascript. FxSpyder will transmit orders using Oanda's .net api. I don't know if that constitutes a true api by your standards.

Regarding questions above:

Is this a true API?

It appears you have access to do anything you want, just as you have access to the API. The difference is FxSpyder created a JavaScript Object model as their scripting language. Apparently, because it is easier. Not sure?


What happens if their server link to O goes down? SL unable to be activated?

Unless you are using their soft order feature, all orders are stored on the Oanda server. The worse that may happen is that you can't login to FxSpyder and you will have to manage your trades on Oanda directly.

How reliable are they and how good is customer service etc?

I have used them for 3 years now.

Does anyone know what happen to fxspyder? I'm trying to call them and sent them a few emails and I still can't get a hold of anyone.