Is Oanda OK for scalpers? | Forex Factory

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Is Oanda OK for scalpers?

  • #1
  • First Post: Dec 17, 2008 2:48am Dec 17, 2008 2:48am
I am developing a scalping system and I'm looking for a broker which offers tight spread.

I was thinking of going with Oanda?

Anybody has any thoughts on their service, execution, and most important of all, spreads.
  • #2
  • Dec 17, 2008 2:51am Dec 17, 2008 2:51am
If you avoid news time (spreads up to 25 pips in the cable) you are welcome there for scalping. I always got instant fills and no or low slippage. Stops and TPs were filled exactly in the most times. No requotes there.
  • #3
  • Dec 19, 2009 3:12am Dec 19, 2009 3:12am
up
  • #4
  • Dec 19, 2009 3:20am Dec 19, 2009 3:20am
Quoting tar
up
Because of what? Oanda is still great for scalpers. Verly low slippage, instant fills, no requotes, tight spreads. I had no problems so far with order sizes up to 1M.
  • #5
  • Dec 19, 2009 3:28am Dec 19, 2009 3:28am
Quoting Svm
I am developing a scalping system and I'm looking for a broker which offers tight spread.

I was thinking of going with Oanda?

Anybody has any thoughts on their service, execution, and most important of all, spreads.
Why not?? I cant see any retail broker that could beat Oanda in term of spread..... except for the news announcement.....
Trading is the game of fear and greed.
  • #6
  • Dec 19, 2009 3:32am Dec 19, 2009 3:32am
Quoting Xaron
Because of what? Oanda is still great for scalpers. Verly low slippage, instant fills, no requotes, tight spreads. I had no problems so far with order sizes up to 1M.
to update the thread and to c others views ...
  • #7
  • Dec 19, 2009 3:32am Dec 19, 2009 3:32am
http://www.forexfactory.com/showthre...ighlight=oanda
  • #8
  • Dec 19, 2009 3:36am Dec 19, 2009 3:36am
Quoting tar
to update the thread and to c others views ...
Ah ok. At least I saw no difference in the slippage and order execution with different order sizes. I tried it with 1,000 units up to 1,000,000 units.
  • #9
  • Dec 19, 2009 12:03pm Dec 19, 2009 12:03pm
Maximum leverage is 50:1. I wish it gives the choice for leverage upto 200:1.

Otherwise, Oanda is great. Simple, superb.
  • #10
  • Dec 23, 2009 6:13am Dec 23, 2009 6:13am
Yes as reported, avoid news time and the charts suck so make sure you use another chart provider. I also don't use stops on Oanda, the spikes can be ferocious and cost you plenty. Plaease no arguments about stops, its about Oanda.
Patience and fortitude conquer all things. Ralph Waldo Emerson
  • #11
  • Dec 31, 2009 8:33pm Dec 31, 2009 8:33pm
Quoting kingfisher
Maximum leverage is 50:1. I wish it gives the choice for leverage upto 200:1.

Otherwise, Oanda is great. Simple, superb.
Please explain why one would need the 200:1 leverage?

Thank you,

Donnie
  • #12
  • Dec 31, 2009 8:53pm Dec 31, 2009 8:53pm
Never had a problem with OandA and like Xaron I've traded up to 1,000,000 units with no problem. From my understanding you can get instant fills with up to 2,500,000 units (if you trade more than 1,000,000 units please verify with OandA).

I don't scalp often, but I've never had a problem when I do (under 5 minute scalps).
  • #13
  • Dec 31, 2009 10:51pm Dec 31, 2009 10:51pm
Quoting GulfCoastPip
Never had a problem with OandA and like Xaron I've traded up to 1,000,000 units with no problem. From my understanding you can get instant fills with up to 2,500,000 units (if you trade more than 1,000,000 units please verify with OandA).

I don't scalp often, but I've never had a problem when I do (under 5 minute scalps).
i guess it is 10 M for the Euro
I am more than ok with 1:50 leverage but i wish they dont wide spreads that much at news ...
  • #14
  • Dec 31, 2009 11:00pm Dec 31, 2009 11:00pm
Quoting tar
i guess it is 10 M for the Euro
I am more than ok with 1:50 leverage but i wish they dont wide spreads that much at news ...
That's part of the deal with OandA. They do widen the spreads during news. No doubt about that. But hey, if you have a 50 pip spike the spread is no big deal.

I personally don't trade news though.
  • #15
  • Jan 1, 2010 3:52pm Jan 1, 2010 3:52pm
I've read back now through the last 6 months to a year of posts about O and A and they seem to be very legit.

The most legit I would say of all the brokers for small traders...The ONLY REAL COMPLAINT EVER has been that the spread will change at certain times...BUT you can see exactly what the spread is at all times...

I'm not a news trader either AT ALL and I'm really more concerned with quick execution, the site always being available, a phone rep that speaks clearly/answers and quick access to deposit/withdrawal...

There is ZERO complaints in ANY of these areas for O and A that I can find.

Just my opinion but I opened my account with them and will be depositing on Monday/Tuesday.

DZ
  • #16
  • Jan 2, 2010 1:34pm Jan 2, 2010 1:34pm
Quoting uraceulose
I've read back now through the last 6 months to a year of posts about O and A and they seem to be very legit.

The most legit I would say of all the brokers for small traders...The ONLY REAL COMPLAINT EVER has been that the spread will change at certain times...BUT you can see exactly what the spread is at all times...

I'm not a news trader either AT ALL and I'm really more concerned with quick execution, the site always being available, a phone rep that speaks clearly/answers and quick access to deposit/withdrawal...

There is ZERO complaints...
FYI, their name isn't "O and A"; the name doesn't mean anything actually...

http://www.oanda.com/corp/story/name
  • #17
  • Jan 3, 2010 9:43am Jan 3, 2010 9:43am
Quoting tar
i guess it is 10 M for the Euro
I am more than ok with 1:50 leverage but i wish they dont wide spreads that much at news ...
Oanda is really great.

The widening up of spreads is something my app monitors to decide when to stay out of the market. If Oanda thinks it needs to cover for greater risks, I take this as an indication that I should stay out.
The only thing I don't like is their API fees; not much of a problem after you start trading for real, but during the development phase of a system it's a pain.

Ohka
  • #18
  • Jan 3, 2010 11:31am Jan 3, 2010 11:31am
TC,

Thanks man, I wouldn't have figured that out.

It's OANDA not O & A. It's all supposed to be one word.

I'm sure everyone knew who I was talking about though...

DZ
  • #19
  • Jan 3, 2010 9:40pm Jan 3, 2010 9:40pm
Hello,
Can somebody tell me for how long the spreads are widening in the news time? (before and after the news)
Thank you
  • #20
  • Jan 3, 2010 10:54pm Jan 3, 2010 10:54pm
Quoting arrillu
Hello,
Can somebody tell me for how long the spreads are widening in the news time? (before and after the news)
Thank you
If you mean Oanda, I'm not sure as I haven't traded live with them. But your typical ECN will have spread increases maybe 5-10 seconds before and after news. That's typical, but there's no hard and fast rule on that either...
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