I think Oanda FXTrade is unreliable | Page 16 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

changing Oanda fxTrade account username? 5 replies

FXTrade-Oanda: Are you satisfied with their platform? 15 replies

FXManager is now available for FXTrade at Oanda 1 reply

Oanda prices frozen on FXTrade 4 replies

Weird quotes on Oanda FXTrade? 8 replies

Attachments: I think Oanda FXTrade is unreliable
Exit Attachments

I think Oanda FXTrade is unreliable

  • #301
  • May 17, 2010 12:35pm May 17, 2010 12:35pm
Quoting pipmutt
Ok, thanks, particularly their terms and conditions rather than a sales reps spiel
hi pipmutt,

i got that emailed to me today, i can send u a copy if u wish, or maybe u can tell me where to look, id rather not post it, thanks.
  • #302
  • May 17, 2010 12:51pm May 17, 2010 12:51pm
Quoting pipmutt
some people just seem incapable of having a reasonable balanced discussion about what is in essence an important topic for existing and potential Oanda clients.

Typical case of can't shoot the message so do the next best thing.......try and shoot the messenger!
If you want to read a balanced view, read my posts... HAhahahah...

As I demonstrated here:
http://www.forexfactory.com/showpost...&postcount=292
and here:
http://www.forexfactory.com/showpost...&postcount=285

when there is something to complain I do complain.
If someone (IMO) tries to get genuine help I try to help.
If a complaint is not justifyable I do protest.

What is more balanced than this???
  • #303
  • May 17, 2010 12:59pm May 17, 2010 12:59pm
Quoting pescador
Haha... I am an experienced Oanda trader. I have experienced lag in their charts, slippage, and all that stuff people are complaining about.
I myself have complained about them.
I am a scalper and I know what spread and spread spikes mean.
As I demonstrated I also have complained about these things.
But you have to put these things into relation with market and broker reality.
Oanda is still one of the best. If you are a smart trader, you will be able to get around these issues, and be profitable.

But the ECN alternative is also there. For...
I've consistently said throughout this thread that it's perfectly possible to make money trading with Oanda, and even more money if one learns to compensate for and/or exploit their little 'idiosyncrasies', like I said that's why I still maintain a trading account with them.

Our individual experiences are exactly what they are, personal experiences, just because we might have had different experiences doesn't justify calling other people 'losers', in this context and discussion it's irrelevant whether they're winners or losers.

IB (I'm taking it you mean Interactive Brokers and not Interbank FX?), I could never get along with their FX Trader, mind you that was when it was first released so it might have improved by now, back then there was very little customer support and the thing was a bit quirky to say the least!

Funny enough I just came across this screenshot from back in '07, you can see on FX Trader there's no position tracking yet I had trades open and live orders pending! It's also interesting to compare the spreads between IB and Oanda at the time, it kinda demonstrates the insignificance of paying IB's commissions!

Can't remember why I did this screenshot now, it must've been to show the spreads hence the Oanda quotes inset.......


http://i39.tinypic.com/90pqpu.jpg

  • #304
  • May 17, 2010 1:03pm May 17, 2010 1:03pm
Quoting pipmutt
I've consistently said throughout this thread that it's perfectly possible to make money trading with Oanda, and even more money if one learns to compensate for and/or exploit their little 'idiosyncrasies', like I said that's why I still maintain a trading account with them.

Our individual experiences are exactly what they are, personal experiences, just because we might have had different experiences doesn't warrant calling other people 'losers', in this context and discussion it's irrelevant whether they're winners or losers.

IB (I'm taking...
Nice screenshot!
Unfortunately I cannot comment on it, because I have never used IB FXTrader to trade FX with IB.
BookTrader is the way to go IMO.
I love to trade directly from the DOM, (that is why I love IB) Of course Interactive Brokers and NOT Interbank FX bucket shop.
BTW I have never seen those spreads with IB.
Normally USDJPY and EURUSD are at 0.5 pips.
EURJPY 1-1.5 pips, GBPJPY 1-2 pips.
  • #305
  • May 17, 2010 1:09pm May 17, 2010 1:09pm
Quoting Vik22
hi pipmutt,

i got that emailed to me today, i can send u a copy if u wish, or maybe u can tell me where to look, id rather not post it, thanks.
Great, thanks Vik!

Can you maybe upload it somewhere (free filesharing site maybe) and PM me a link?

Appreciated....
  • #306
  • May 17, 2010 1:19pm May 17, 2010 1:19pm
Quoting pescador
Nice screenshot!
Unfortunately I cannot comment on it, because I have never used IB FXTrader to trade FX with IB.
BookTrader is the way to go IMO.
I love to trade directly from the DOM, (that is why I love IB) Of course Interactive Brokers and NOT Interbank FX bucket shop.
BTW I have never seen those spreads with IB.
Normally USDJPY and EURUSD are at 0.5 pips.
EURJPY 1-1.5 pips, GBPJPY 1-2 pips.
lol, I never had much success with book trader either! Hmmm, maybe I'm just a crap trader and even worse when it comes to IT stuff, that's a definite possibility!

I think that pic must have been taken around a data release (news) but I can't remember what was happening at 9am EST on the 15th May 2007!

(I'm just checking to make sure there's no porn sites in the taskbar, lol)

I liked IB generally but we parted company when I clicked Gbp/Jpy and got filled on Eur/Usd and my account manager said my mouse must have slipped as I clicked! I mean come on, the two boxes are like 6 inches apart!

Have you still got an account at IB? Has their support improved any, that was always people's complaint, that and 'white screens'?
  • #307
  • May 17, 2010 1:23pm May 17, 2010 1:23pm
Quoting pipmutt
Our individual experiences are exactly what they are, personal experiences, just because we might have had different experiences doesn't justify calling other people 'losers', in this context and discussion it's irrelevant whether they're winners or losers.
Agreed. But it IS relevant if they blame others for being a loser or not.
As I wrote above, it is not a shame to be a loser. But it is definitely a shame to blame others for being one.
  • #308
  • May 17, 2010 1:26pm May 17, 2010 1:26pm
Quoting pipmutt
Have you still got an account at IB? Has their support improved any, that was always people's complaint, that and 'white screens'?
Yes, I trade with them every day.
I have not had much need to use their support, but I am aware of the widespread complaints about it.
That said, those few times I needed it, my experience was, that if I managed to maintain my patience and staying polite, they managed to find someone being able to help me.
This person generally was not the first one answering my questions though.
  • #309
  • May 17, 2010 1:30pm May 17, 2010 1:30pm
Quoting pescador
Agreed. But it IS relevant if they blame others for being a loser or not.
As I wrote above, it is not a shame to be a loser. But it is definitely a shame to blame others for being one.
I agree....unless the broker contributed to it in some way. I'm not sure the OP is a loser though, he seems to know what he's doing, all he's pointing out is that despite Oanda's claims to the contrary they are very far from being a level playing field and everything is skewed in their favor at the trader's expense!

I think that's what I object to the most, they smile in your face while stabbing you in the back, they would be better off not saying anything (like the trader's charter) and just let their performance speak for them. Either traders will like their performance (or not notice these issues) and stay, or they won't and they'll walk.
  • #310
  • May 17, 2010 2:56pm May 17, 2010 2:56pm
pipmutt did you read over those terms and conditions for business from LCG?

I have it if you didn't already get it from Vik. There will always be conflict of interest policy, but they are never manipulating prices and messing with your trades. It is true STP incoming and outgoing right from the interbank hub, and there spreads and comm. are not beatable as far as I have seen, and they are also in the spread betting business, so you might have to take that into account.

I have heard great things about IB's booktrader, especially for scalping, though they are .5 pip pricing, not fractional and there comm. is pretty high, but not THAT bad... doable. But... I think there underlying market fills are actually fractional so I hear... not sure though.

CNX with 5th decimal pricing will always give you the tightest spreads. 4th decimal pricing will give you the more volume as I am also told.


To the OP... I have personally never seen anything like you are saying happening in the past 2-3 months I have been with Oanda and I am scalping. They are pretty damn good.... I totally believe that this stuff was happened a long time ago, but there platform has undergone many updates and fixes, as well as their servers. My fills are NEVER as bad as you are claiming. My connection is rock solid and I would use this platform over MT4 any day. Although I am pure price action trader, not one single indicator, pure price line. I use ProRealTime for my charting... along with one 5sec oanda chart and quote panel.

If you are not happy move on, plenty of people are happy with them including me. Maybe Oanda just doesn't like you... lol
  • #311
  • May 17, 2010 3:06pm May 17, 2010 3:06pm
Quoting pipmutt
Yep, most definitely, it's hilarious to watch though and so predictable!

All the usual childish nonsense like "you're a loser", "prove you're a trader" when someone recounts their own personal experiences, some people just seem incapable of having a reasonable balanced discussion about what is in essence an important topic for existing and potential Oanda clients.

Typical case of can't shoot the message so do the next best thing.......try and shoot the messenger!
You forgot to add your own contribution:

Quoting pipmutt
don't even think about going there bug, I'll rip you a new one and I think you know it
  • #312
  • May 17, 2010 3:07pm May 17, 2010 3:07pm
Quoting Monroe
If you are not happy move on
BINGO!
  • #313
  • May 17, 2010 3:23pm May 17, 2010 3:23pm
So, are they scammers?
  • #314
  • Edited 3:51pm May 17, 2010 3:24pm | Edited 3:51pm
lol

I can tack on a few more nice comments towards me from pipmutt... but I'm over it. No harm no foul.

edit: slippage is something you will always have to deal with, and that also depends on how and when your clicking an order for entry. Conflict of interest and brokers being counterparties is something you will never get around as a retail trader, that in itself doesn't mean they take the opposite side of your trade or manipulate. Oanda is not a bucketshop or a scam, they are a market maker and take the opposite side of your trade, but does it matter that much? I will be right majority of the time no matter what side oanda takes... you don't have to find out how to trade with oanda to be profitable, if you learn how to trade, and you will be profitable with oanda just like anywhere else, as long as they aren't a bucketshop that seriously manipulates the data... but I don't ever see that. I don't see anything else the OP is saying either, sounds very far fetched.
  • #315
  • May 17, 2010 3:50pm May 17, 2010 3:50pm
Quoting bugscoe
BINGO!
Wrong game, this is forex, I think you want this site!
  • #316
  • May 17, 2010 3:54pm May 17, 2010 3:54pm
Quoting Monroe
pipmutt did you read over those terms and conditions for business from LCG?......There will always be conflict of interest policy, but they are never manipulating prices and messing with your trades.
Probably not but like I say there's nothing stopping them, no guarantees, just exclusion clauses, disclaimers, and a licence to do pretty much what they like. It's the nature of the game I suppose, as soon as we sign up we assume the risks involved.

I guess if people are concerned by the whole OTC thing they can go and trade an exchange-traded instrument......and face another set of different issues!


Quoting Monroe
lol

I can tack on a few more nice comments towards me from pipmutt... but I'm over it. No harm no foul.
Vice versa, but we're not keeping count, at least we're having a semi-sensible exchange of views!
  • #317
  • May 17, 2010 4:07pm May 17, 2010 4:07pm
right on...
  • #318
  • May 18, 2010 2:50am May 18, 2010 2:50am
ye OANDA are thieves because they allow you to profit from sunday gaps..like this week....LOL ...

OANDA IS FAR WAY BETTER THAN common crap multiplatform brokers...
  • #319
  • May 18, 2010 3:30am May 18, 2010 3:30am
I am using OANDA demo platform and it seems quite good. What are you saying that they are doing wrong? Is it only on the live platform that there are problems?
  • #320
  • May 18, 2010 5:26am May 18, 2010 5:26am
Another issue with oanda is their interest on open positions methods. Sure, it is good they charge/calculate interest by the second. But, their interest rates are not very good at all. They charge around 8 times what they pay you for eurusd, depending on whether you're long or short. I bet you could find plenty of brokers who offer more competitive margin financing than oanda.
2 traders viewing now