I think Oanda FXTrade is unreliable

lol, good luck pipmutt, looks like your gonna need it. And you are actually the one who doesn't know much about forex, but seems like you sure know how to write posts on FF... and part of the reason people around here suck at trading.

While my oanda account goes up, you can sit here and type posts complaining about brokers that are perfectly fine for making money.

but hey, as long as you are having fun clicking your mouse also...

I thought you weren't going to respond to this thread again, but oh well, seeing as you have.....

Where did I say one can't make money from trading with Oanda, in fact I said shops like Oanda have their uses, why do you think they have 7 and 8 figure client accounts?

You're wrong on so many points in your previous posts but as you seem so blissful in your ignorance it's a shame to burst your bubble with realities!

wrong, not at all... i wouldn't post wrong information.

fact of the matter is, oanda is fine and not a scam, though they are a market maker, so it is what it is, odd's of course are against you. You are not going to find a much better broker unless you have the money for it,. these guys are not going to do any better anywhere else, unless they are trading news. No ECN's I can think of for under 25k deposit. They all have to high commissions so the spread is even worse in the end, even there currenex platforms are retail currenex and not much better then oanda's execution and the spreads are still padded.

Are you saying I am wrong on this?

Are you saying I am wrong by saying the oanda is a good platform and a decent broker for what they are?

don't go back and forth with me and take this to a personal level. I am not wrong about anything I have said. If you think so, you should look into brokers more before telling people false information you're typing at your keyboard.

You seem fixated with spreads, and that is exactly what shops like Oanda rely on to attract the bulk of their business, inexperienced novice traders who only look at headline spreads, it's their ace sales pitch.

Listen I don't really have the time nor inclination to educate someone who thinks they know it all on the intricacies of the market and the logistics of market making, you'll find out eventually.....or probably not if what you've posted so far is anything to go by.

Just enjoy your trading, don't worry about a thing.

That it, we done now?

From what you have said, I would never want any education from you about trading Forex or the Forex market and how it works, especially about brokers, data and quotes.

Spread IS important to me because I am a scalper. Don't assume something you have no idea about (me or my trading), because you would be the ignorant one.

we are done now. take care.

lol, priceless! Spreads are important to you because you're a scalper, I love it, you couldn't make this stuff up! You're kinda missing the bigger picture there though friend....


I'm thankful for small mercies!

Hey Pipmutt

I'm with you man, whatever these people say. I switched from OandA and ever since then I've made money consistently without the hassle of the spread manipulation. Anyone who says that's a good thing, well, um... hey I really liked that ostrich cartoon you posted.

for me, especially after my experience with OandA, there's something just wondertful about knowing that I don't have to worry about spreads going UP AND down and UP AND down, news time or no. It just sets my mind at ease and lets me worry about what's important -- trading price itself. What a relief!

take care and trade well!

You too bud, and I know exactly what you mean about it being a relief!

Anyway, catch you all later, I am outta here......

damn pimutt... quite a joker... I'm glad you found the funny for some reason, which is kind of weird. I am not missing the bigger picture. Oanda gives me my .9 when I trade and that is a fact, they also give me good execution when I scalp, and that is a fact. everything that i have said about ECN's and oanda is a fact.

this post was about someone who didn't know what they were doing, crying about it.

and that wasn't a mercy... if you really want to keep on going we can, you've said nothing to prove me wrong, only trying to get under my skin for some reason with your annoying little lines, why though? your FF buddies finding out you have no clue?

hhitch your a loser bro. lol

and you will fail at forex, so we'll see who's laughing last.

you can hang out with pipmutt who likes to do research but has no idea what he's talking about.

hey at the end of the month, do you want to post your trading statements against mine? don't have to post the cash part, just the trades.

dude I'm a winner and I've paid for it. And I've been trading LONG before Sept 2009. And I couldn't give a shit about comparing _____ size with you.

LOL didn't think so. and keep telling yourself that....

do you think that because you've traded longer your any better? or more knowledgeable?

repost my posts?? are you kidding me.... you herb.

Well that certainly explains the ignorance!

Unsubscribed...phew.

How do you work out that he's a loser and will fail, what, because he quoted a post of yours from 8 months ago?

I bet everyone who disagrees with you is a loser, right?

not right, but I am willing to bet that he is from he previous post's.

"since I moved away from oanda I have been doing great" yea... whatever you say there hhitch.

not everyone that disagree's with me is a loser pipmutt, but someone who reposts my FIRST post ever 8 months ago and laugh's at it is a loser. And if he wants to laugh at me and say because he trades longer then me and is better and knows more we can take a look at the facts that can't lie... but he refuses to do that so... whatever, further proof he is a loser.

so far what you have said here is false and you claimed what I said was. so... whatever you say pipmutt. I learned from people who know far more than you do. They laugh at people like you on FF.

I came here to put the facts out that oanda is not a scam and and you can definitely trade with them and profit and be on your way to better brokers in the future, but for a low equity trader, trading with a crap ECN like dukascopy, MB trading, FXDD, pfg, etc is not much better. especially if you're scalping. I stated that there feed was great and there platform and execution was great too. I stated that your not getting a good ECN unless you have the cash for it.

and if you disagree, prove it, and stop taking my words and laughing at them acting like you know way more then me and are too busy to be bothered like you are above it all. Did I insult you first? I never questioned your trading skills, but you did that to me.

Funny thing happened today with Oanda...Trade Balance report came out and the E/U spread went to 10 pips for a period of 30 secs...a real "BANG" moment because I was completely caught off guard. It was such blatant price manipulation, causing me to lose out on mega money (despite price not moving at all on the news and despite me not knowing the news was even coming) that I just quit trading for the day. It IS a scam and all the boy wonders on this thread are right! That 30 seconds cost me a whole day of trading because the other 99.9% of the trading session at 0.9 left me feeling untrustworthy of this broker and unable to unload my full potential as profitable trader.

Now on to real world stuff. Prior to opening my Oanda account I had an account with MBT. (I still have the account but there isn't enough capital in it to even trade.) This was several years ago when there comm rate was at the higher rate. As a scalper, the comm rate was way too high for my strategy so I ditched them and moved to Oanda since the spread was the same.

Then MB lowered their rate and it peaked my curiousity. I decided to open a demo with them and trade it side by side with my Oanda live account to see how much money I'd be giving up in comm.

Comparing the spread/feed of MB demo and Oanda live, they're almost deadlocked even. MB's variable spread will often go to 1.1 and hold for a while. If it goes lower than 0.9 it's only for a moment.

SO, the only difference for a guy like me, a scalper or short term trader, will be the commission and how much it's cutting into my profits.

From 3/10 through today on MB, it's cost $13,260.22 in comm with MB, which equates to 20.10% of profits. Yikes!

Now if I spread that comm out over a year of trading, it would be paying a damn nice salary for someone over at MB OR it could go towards my daughters college fund...Hmmm...

I'm just not seeing any benefits right now. The biggest difference is the 100:1 leverage at MB compared to Oanda's 50:1 which allows a little more flexibility in my strategy. However I'm not certain it's enough of a plus to offset giving up 20% of my profits. If they cut their comm rate in half from where it's at now, then I'll give it some thought. Also, I'm not sure how realistic some of my fills are on MB demo's platform. I use Mkt orders 98% of the time and I recall when I was trading live at MB I was getting hung orders or slipped 2-3 pips more than what I would deem acceptable so the % of my profits might actually be higher. That was also another reason I moved over to Oanda. Now if these same things would have been happening to me at Oanda (as all these experts claim on this thread) I wouldn't be trading with them.

So is Oanda reliable? Yes. As is MB. It just boils down to what is the best fit for you and your strat.

EDIT: as I just finished this post, the E/U has moved 80 pips and the spread on Oanda is 1.2, got bumped up as the move ended. Blasphemy! How can I expect to profit off of 80 pip moves when I've got to overcome that spread!!!

thanks Bugscoe.

just FYI -- I have also traded with MB Trading for several years and I left them behind as well, not only for the reason of the commissions, which I saw were eating up profits, but also because of some very unreliable situations which were occurring. My main complaint with MB Trading is that there are two times every day when stop losses stop working altogether -- every day at 5pm EST they turn off the stop loss servers for up to 15 minutes during rollover, and every day at 12 midnight EST they turn them off again for server maintenance. There were several times when price blasted through my stop loss and I ended up with a gigantic loss.

also I am not going to say that with an ECN the spread situation is better than, say, OandA -- one time on MB Trading I was in a NZD/USD trade right around rollover time and the spread went to 300 pips -- can you believe it? I panicked and tried to close the trade when I saw it widening to about 30 pips but since they had turned off the servers for rollover, the sell order didn't go through until they turned the server back on and by then it was at a 300 pip loss and bingo my sell order was executed at 300 pip loss. Needless to say I called them on the phone, almost having a heart attack, and they were nice enough to reimburse me for that loss.

it's a tough world out there! If and when you find a broker you like, stick with them! If you like OandA, great! use them! I never said they weren't trustworthy, only that I didn't like their spread policies!