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I think Oanda FXTrade is unreliable

  • #41
  • May 6, 2010 9:09am May 6, 2010 9:09am
ive been trading for 5 years and have tried many reputable brokers but oanda is miles ahead of any of them. I have not had a single problem. the only broker that came close was hotspot who are ecn but have now gone institutional so us retail guys cant use them. I have experienced none of the problems you mention, execution is great, have only ever had minor slippage and that has regularly been in my favor and seen my stop missed by 0.1 of a pip on more than one occasion. You can access all the information you need about historical price levels and you can change the order ticket and font size to be as big as your screen if you want. There is no better fx broker in my honest opinion. I would stay with them even if i had enough money for ecn. If you find a better broker than this please let me know, in the meantime I highly recommend Oanda to everyone.
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  • #42
  • May 6, 2010 12:26pm May 6, 2010 12:26pm
When reviewing brokers I think it's important to mention what type of trader you are, scalping, intraday, positional etc etc.
  • #43
  • May 6, 2010 12:55pm May 6, 2010 12:55pm
The OP is just a shill...


Been with Oanda 1.5 years and very happy. The cool thing about their charting package is that all the settings are saved on their server so everything is the same when you launch the program from any computer.

I've probably put in 2 tickets with their support and have always received prompt and courteous service. I think it is a very ethical and above board company that is well run.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #44
  • May 6, 2010 3:48pm May 6, 2010 3:48pm
Quoting Xaron
I rarely have disconnect problems nor slippage.
You're lucky, there seem to be a lot of people experiencing 'issues' with the platform, in fact it's cause for celebration when the thing doesn't fall over in volatile markets

I'd never come across a broker with so many connection and platform issues before, it was an experience I wouldn't want to repeat in a hurry that's for sure!
  • #45
  • May 6, 2010 4:27pm May 6, 2010 4:27pm
I've been with Oanda for many years.

The charts work just fine for me.

I get slippage when I'm slow. If I hesitate, expect the next price. If you're fast.... you click it, you get it. (mostly)

Disconnects ?? We still talking about that ?? The last time I got a disconnect, it was my ISP.

(There was another broker I lost money with.... man what a bunch of crooks they were)
  • #46
  • May 6, 2010 10:16pm May 6, 2010 10:16pm
Wow, that's a lot of negativity against Oanda. Initially, I thought that nothing is worse than FXCM. Oanda is adding company to FXCM lol.

But an unreliable trading platform is already in itself a scam. I say that so far, my current broker is not failing me.
  • #47
  • May 7, 2010 12:55am May 7, 2010 12:55am
Here's a thread giving Oanda a round of applause for their platform stability during the mess in the US today: http://www2.oanda.com/cgi-bin/msgboa...;f=17;t=005287
Hindsight is 20/20
  • #48
  • May 7, 2010 3:56am May 7, 2010 3:56am
Quoting cosgrove
Here's a thread giving Oanda a round of applause for their platform stability during the mess in the US today: http://www2.oanda.com/cgi-bin/msgboa...;f=17;t=005287
That's exactly the point, it's such a cause for celebration when the thing doesn't fall over in volatile markets that people ecstatically post about it!

Read some of the other posts in that forum about connectivity issues, charting issues, stop loss and take profit order execution issues, FX Manager issues, balance reporting issues, slow fills, quote spikes.....etc etc etc.

I don't know about you but personally I prefer to trade with a bròker whose platform is stable and reliable. When I'm trading I want to focus all my attention on trading rather than trying to sort out bròker's problems!
  • #49
  • May 7, 2010 5:13am May 7, 2010 5:13am
are u kidding me.? oanda is the only one who is reliable... no requotes no sh** like "the market is closed" you put your orders when you want.. ok charts are lame ....but its more than enough to trade...
  • #50
  • May 7, 2010 6:02am May 7, 2010 6:02am
Quoting mistersimple
are u kidding me.? oanda is the only one who is reliable... no requotes no sh** like "the market is closed" you put your orders when you want.. ok charts are lame ....but its more than enough to trade...
Maybe it's me, but I can't be the only one who has problems with Oanda's platform. It amazes me, I opened my Oanda acct in 2006, and the platform continues to be plagued by the exact same problems now, back then.
  • #51
  • Edited 8:14am May 7, 2010 7:57am | Edited 8:14am
Quoting Ted1983
I've got alive Oanda account which I opened to try and then kinda forgot about.
I've looked at it again recently and their spreads seem to crush any of the basic MT4 offerings out there.

People complain about slippage and re-quotes on all the brokers as far as I can see. So if all else is equal why not go with lower basic spread?
If FXTrade is anything like FXGame, the money you will lose simply from their technical issues and slippage (if you are doing anything other than position trading) will far outweigh the spreads.

I've doubled a 1,000 and a 2,000 dollar account on FXGame, (practicing scalping) and just about every major loss I've incurred trading with Oanda (On the demo I might reiterate) has been due to a technical error on their part. Although I have had two or three bad losses due to my own error. The losses due to Oanda were larger.

Because their price feed is so obviously manipulated however, there are some prime chances for scalping arbitrage (if you could cal it that), if you are also MT4 trading with another broker. Should Oanda's live feed be as manipulated/slow as their FXGame feed; you could use their manipulation against them, I have for 5 pips here and there, demo trading.

Also, often Oanda's price will not ever touch the price the IBFX feed does, by 3-5 pips.

I may never know, I was going to wire funds to the FXTrade account I've just left sitting, but now I think I ought to just close it.
Thank you Lux!
  • #52
  • Edited 8:11am May 7, 2010 8:01am | Edited 8:11am
Quoting bugscoe
You guys are hilarious. Please do tell who the magic broker is?
Disclaimer: (This pertains to my experience with FXGame. I cannot speak for FXTrade)


There definitely is not a magic broker, I've had my problems, but MT4 is a much more powerful tool than anything Oanda provides. Plus, I do believe they seriously manipulate their price feeds, and that is compared to another broker who allegedly manipulates their feeds (IBFX), although I've had no problems personally thus far with IBFX. One big plus versus Oanda: I've never been disconnected from IBFX as I am putting in an order, only to have it fill 20 pips away from my target, or in the middle of a trade.

/shrug
Thank you Lux!
  • #53
  • May 7, 2010 8:31am May 7, 2010 8:31am
Quoting ScalpOrDie
Disclaimer: (This pertains to my experience with FXGame....
I scalp all morning with Oanda, 30-50 Rt's with some 100-200 individual entries.

Oanda's manipulation certainly helps my P&L.
  • #54
  • May 7, 2010 8:37am May 7, 2010 8:37am
Quoting bugscoe
I scalp all morning with Oanda, 30-50 Rt's with some 100-200 individual entries.

Oanda's manipulation certainly helps my P&L.
Rad, we're doing the same thing! Nice to see it works live with Oanda. Which broker feed do you compare against Oanda's wonky one?
Thank you Lux!
  • #55
  • May 7, 2010 9:01am May 7, 2010 9:01am
Quoting ScalpOrDie
Rad, we're doing the same thing! Nice to see it works live with Oanda. Which broker feed do you compare against Oanda's wonky one?
MB. I have an account with them as well but it's way cheaper to trade with Oanda.

Oanda's feed is actually way more stable than MB's. Seems MB's feed can't handle suddenly volatility too well. Quotes freeze and sometimes invert.

Their TDFX feed thru eSignal also suffers when volatility suddenly increases.
  • #56
  • May 7, 2010 9:07am May 7, 2010 9:07am
Quoting pipmutt
We wouldn't dream of trying to kid someone who doesn't seem to understand the meaning of Bid, Ask, and spread!

'mistersimple'.....yep, ain't that the truth!
damn u finally opened ur mouth...most of time u re suckin alpari...what a surprise!

and btw go f urself ok?
  • #57
  • May 7, 2010 10:09am May 7, 2010 10:09am
Quoting pipmutt
Sure, it will make a nice change from f'ing your g/friend........ah forget it, it's the weekend, enjoy!
pfff so kiddy gayish... i dont wanna argue ... but i hope u dont say such things in real... u cld regret ...
case closed
  • #58
  • May 7, 2010 10:19am May 7, 2010 10:19am
Quoting bugscoe
MB. I have an account with them as well but it's way cheaper to trade with Oanda.

Oanda's feed is actually way more stable than MB's. Seems MB's feed can't handle suddenly volatility too well. Quotes freeze and sometimes invert.

Their TDFX feed thru eSignal also suffers when volatility suddenly increases.
It makes you wonder why anyone would want to trade with any other brôker!
  • #59
  • May 8, 2010 1:05am May 8, 2010 1:05am
Quoting Xaron
IMHO Oanda is more reliable than most of the MT4 bucket shops out there. I even prefer their simple platform instead of Metatrader. I don't need fancy indicators but I like features like the display of exposure, the ability to see the average price of several entries, the ability to move all targets and stops with one click and so on. I rarely have disconnect problems nor slippage.
Xaron my friend...
Oanda must build a statue in your honour.
So many years and so many kind words.
  • #60
  • May 8, 2010 1:07am May 8, 2010 1:07am
Quoting pipmutt
That's exactly the point, it's such a cause for celebration when the thing doesn't fall over in volatile markets that people ecstatically post about it!

Read some of the other posts in that forum about connectivity issues, charting issues, stop loss and take profit order execution issues, FX Manager issues, balance reporting issues, slow fills, quote spikes.....etc etc etc.

I don't know about you but personally I prefer to trade with a bròker whose platform...
Good point.Same here
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