I think Oanda FXTrade is unreliable

bugscoe: thats my experience as well. Im using Neoticker+MBT for charts and Oanda for trading. Its pretty much lockstep. BTW, i track slippage through a custom frontend (via api), and my average slippage on the last 100 trades is 0.1 pip.

Yes its a dealer market, but they are quoting a 2-way price. Meaning they can only move quotes in their favour in a way that there is no arb opportunity with another dealer. Thats what keeps quoting in balance in all dealer-markets, not just in FX. Only thing they can really do is widen the spread, and that happens to some extent.

Its also amusing with what religious enthusiasm people on this thread defend/attack certain firms (obviously working with assumptions in most cases rather than 1st hand experience).

bugsco, that is true, commission and spread is the difference for a scalper for sure.

if I'm getting .9-1.2 without commissions it works out better for me then trading with MBTrading or another ECN charging high commissions, which are not much better with their platform, fills or spreads. MB's commissions is WAY too high, I would never even think of using them. I scalp for 2-10 ticks a trade if I have to give more than 20$ per million, that's crazy.

Oanda spikes up the spread during news to protect themselves, they lost a lot of money years back. They used to be a lot worse, they had server problems, etc, etc... I don't think they were intentionally screwing people over because I have gotten slippage in a good way plenty of times. They have been great recently.

I end up taking those .x pips I close for profits where with an ECN I would be taking a loss on the commission alone.

I do agree, it depends on your strategy... if your trading news and your a long term trader, maybe you would be happy elsewhere. I don't trade that way though, I am stating my opinion for my strategy and my experience with oanda as a scalper.



hey hhitch... keep laughing you clown... your a pathetic loser. And you have nothing to offer anyone here. Just a waste of space. keep spinning your wheels and blowing your account kid...

yeah I'm laughing all the way to the bank, man dude I think you should take up drinking or something, you're taking yourself way too seriously... have fun!

also learn some grammar: your = you're

i'm not lightening up for the likes of you. I don't care about my grammar writing a post on FF, I am not writing a book, and i think you know what i meant.

that's great advice with the drinking... see what i mean.. no good for anything.

laughing all the way to the bank... now that is funny.

I bet I can find you numerous instances when it hasn't been. Lagging quotes, off-market quotes, exorbitant spreads, mysterious spikes. Some of those instances are documented complete with screen shots and in some cases video clips. Not to mention platform reliability issues and connectivity problems, also documented on their own forums.

I traded with Oanda for a number of years and experienced first hand some of the problems the OP mentioned. It was not a pleasant or relaxed way to trade.

Having said that, and as I mentioned before, Oanda and shops like them still have their uses which is why I continue to maintain an account with them.

No marketmaker is perfect and we all have different requirements and priorities, as well as limitations.

Ok, please link said screenshots and clips.

The links would be to other forex forums and websites and motives could be misconstrued, besides which it would be bad etiquette posting links to competitors.

Google if you're interested, or read their forums.

Earl's on....I'm off!

Im staring at quotes and charts from different sources pretty much all day. I don't need to rely on some random forum-posts to make up my mind. But thanks for the suggestion.

So your complaint is lagging marketdata, mistrades, and sometimes higher bid/ask spreads. Huh. Welcome to the markets. Its true, all of it happens on Oanda, too. If you google, you can come up with lots of screenshots and forum-posts from any other mkt/trading-platform with the same problems.

Very rare this happens for me at all... I believe that might have been the case awhile ago, but I know they were having server problems and technical difficulties. Lagging quotes, within .x pips I have seen, but nothing crazy at all.

I think if you logged onto your Oanda account now, you would find this not to be the case. In fact you will find oanda's feed to be great. I have not seen off-market quotes and "mysterious spikes" since I opened an account with them 2 months ago. A lot of these mysterious spikes are not so mysterious and happen on multiple data feeds simultaneously. I have run it side by side with FXDD CNX quotes. I also have other data feeds along side this, and non-broker data feeds as well.

Connectivity problems also extremely rare for me. Most of those problems (not all) are more on the user side I would think.

Again I will say, trading news with oanda is horrible, but it's back to normal very soon after the news spikes, so if that effects your swing trades or something, then yes, go elsewhere. If I ever see funny behavior happening to me, I will surely post this experience.

Most of these brokers, including ones offering ECN's are manipulating price. You need to be with at least a second tier prime broker that offers multi-bank pricing if you want otherwise. so bring the cash....

In the end does it really matter much? If you can't make money with oanda... being with a good ECN broker with true exhange market data ECN platforms like CNX, EBS, Rueters will not make much of a difference I don't think. It's just not the answer to your problem.

He is.

who is? that wasn't directed at anyone, just a general statement.

lol, this really is tooooo funny now....

Fellas, it's your money so spend it any way you like, it doesn't make an iota of difference to me and it's not my job to nanny you!

....horse, water, lead....and all that stuff

lol, who the hell asked you to nanny anyone, all you've came here with is crap talk with the other idiot. we get it, you don't like oanda... nobody see's the big picture and everyone is falling for oanda's market schemes... with the "numerous instances" of lagging and off-market quotes and mysterious spikes and all that crap. yea...

happy trading pipmuff.

well you know, Mr. Monroe, one thing I never did was accuse you of lying. And, I never called you a loser. And I did not challenge you to prove yourself. These are things that you seem to have no compunction doing to other people who you don't know.

I'm more than apt to take you at your word. I just feel you are being a bit pompous for someone who, in their own words, claims to be a newbie.

I thought it was appropriate to point that out, in light of the fact that you seem to feel that you are always right, and you always need to have the last word.

if you didn't take yourself and your need to be right all the time so seriously, you might learn from some of the other more experienced people on this board. Everyone has a right to their opinion, and going around trashing other people on public forums is very low-class behaviour. Grow up, dude.

I know you're going to have to get the last word, so go ahead, do your dirtiest. I, for one, am done with this thread. I have done my best to help other traders that needed to know how the game is played on OandA. I think I did a good job of pointing out OandA's strengths as well as its weaknesses. That was my only purpose in joining this thread. Spam trolls can have this thread from now on. Ba Bye!

Fair enough, I should apologize and wish you the best. I did get a bit out of line and that I will admit with no problem.

I was offended at the remarks. You coming along and teaming up against what I am saying without any proof or anything worth value towards the thread. Taking my newbie post and posting it against me when I have come along way since then. I never claimed to be a newbie. Just because someone has been trading longer then someone else doesn't mean anything.

I know a fair bit about brokers and trading forex... I'll share what I know and what I have experienced. If I am proven wrong I have no problem admitting to being wrong. You guys calling me ignorant when you are being ignorant. If it's something I have no idea about I wouldn't talk or argue about it. I still wasn't proven wrong on any account.

pipmutt and you seem to always want to have the last word just as bad and if you look back, I was about to not come back when he steps up with stupid little comments and arrogant bullshit.

p.s - this board is filled with way more nonsense and false information then anything else and and I haven't learned a god damn thing about how I trade here.

later...

I think that's all most of us have tried to do, post our own personal experiences and point out some of the pitfalls of trading with Oanda rather than posting personal attacks on complete strangers. I'm really not sure why this Monroe character is getting his knickers in so much of a twist and to be honest nothing interests me less, it's not the first thread he's trolled in and I doubt it will be the last!

Anyway good trading to you hhitch!

seems like it did interest you pipmutt. am I trolling? are you trolling? not sure what you meant by that, but again, a stupid annoying comment. you just can't help yourself.

your experience? you were talking about other peoples post's about oanda in other forums. you were talking about your experience years ago. the things you came here and said in a few of the first post's were pretty wrong from what i have experienced.

so i really have no idea what you're talking about, and I don't think you do either.

lol, yes that much is abundantly clear!

My first post in this thread, and subsequent posts, I think are fairly self-explanatory to most people.

Anyway like I said don't you worry about a thing, just enjoy your trading!


......I think this thread is pretty much done now isn't it?

i was never worried pipmutt. i read your first post and that's not the one I have much of a problem with, although a few things you said there I cannot agree with.

Some interesting responses. And its good to hear other credible witnesses agreeing with me that oanda are a bunch of scammers.


True, there is no perfect broker. But, Oandas marketing promises so much & delievers so little.


I come out of 80% of trades a pip or 2 worse than i should have done (the price i clicked on). 20% of the time i come out a pip or 2 better. But it should be 50/50 postive/negative slippage, right.

Oandas 0.9 pip spreads are a gimick. Factor in slippage, & i reckon on average it will cost you 1.5-2 pips per round turn.
I just dont like the disappointment & uncertainty & non-confidence this brings. I'd much rather a broker with 1.5p spreads instant fills on the price you click on & very few requotes.

Oandas CS people deliberately misunderstand clients on the chat facility, playing dum, hoping you'll go away & leave them alone, while also providing untrue information.

A few words spring to mind -

pole barge touch wouldnt

Keep your funds where you know its safe & guaranteed/held in a segregated acount! The great financial crash is coming, the 2nd bubble is being burst, & lots of companies will go bust, as the world moves closer the great depression & tptb take us into further wars!