Is Oanda FX-manager reliable?? | Forex Factory

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Is Oanda FX-manager reliable??

  • #1
  • First Post: May 27, 2010 2:28am May 27, 2010 2:28am
Is the automation service of Oanda reliable? Or I will suffer from slippage , disconnections..etc, ?

I mean why would a bucket shop offer auto-account managment service?? A good trader can grow more accounts and they lose more. Unless they would disconnect the platforms on losing positions..etc,

I never tried it to be honest and I'll try it with no more than $ 200-300 . But wanted your opinion.
  • #2
  • May 28, 2010 12:41am May 28, 2010 12:41am
Quoting Brb-Fraudin
Is the automation service of Oanda reliable? Or I will suffer from slippage , disconnections..etc, ?

I mean why would a bucket shop offer auto-account managment service?? A good trader can grow more accounts and they lose more. Unless they would disconnect the platforms on losing positions..etc,

I never tried it to be honest and I'll try it with no more than $ 200-300 . But wanted your opinion.
Huh
  • #3
  • May 28, 2010 4:59am May 28, 2010 4:59am
Quoting pipmutt
Huh
Do you use Oanda FX-manager , or know what is it?
  • #4
  • May 28, 2010 7:53am May 28, 2010 7:53am
If you think that Oanda is a bucket shop then don’t spend your $200-300 on them. You might wanna try other brokers and research them first before spending your money.
  • #5
  • May 28, 2010 10:03am May 28, 2010 10:03am
Quoting thechosen1
If you think that Oanda is a bucket shop then don’t spend your $200-300 on them. You might wanna try other brokers and research them first before spending your money.
I don't think they are bucket shop. They are bucket shop. I made my own research and I know that Oanda is a good broker. I am asking about the fxmanager service.
  • #6
  • May 28, 2010 2:58pm May 28, 2010 2:58pm
The FxManager stuff works very well. It's somehow different to all those PAMM accounts for MT4 out there. You could try their FxManager Game platform (you can invite yourself).

The only drawback is that you can't open and close trades independently for each client. So if you trade long term and get a new client you have to "reproportionate" all clients which results in a merge of positions in the same pair. It's a bit hard to explain, just try it in the game interface.

Nevertheless it's a very good tool.
  • #7
  • May 29, 2010 12:20am May 29, 2010 12:20am
Quoting Brb-Fraudin
Do you use Oanda FX-manager , or know what is it?
Yes and yes, but I don't understand your original question.
  • #8
  • May 29, 2010 12:25am May 29, 2010 12:25am
Quoting Xaron

It's somehow different to all those PAMM accounts for MT4 out there.
It's the only one I know that allows a manager to reproportion other clients funds to a zero balance account and which doesn't restrict negative balances!

It's an accident looking for a place to happen and open to all sorts of abuse by the manager, potentially at the client's expense.

A typical example of the shoddy quality Oanda has got a reputation for, heaven knows how it ever got past compliance!
  • #9
  • May 29, 2010 10:19am May 29, 2010 10:19am
Quoting Brb-Fraudin
I don't think they are bucket shop. They are bucket shop.

Not sure what you mean? From your research, are they or are they not?
  • #10
  • May 29, 2010 10:48am May 29, 2010 10:48am
Quoting Svm
Not sure what you mean? From your research, are they or are they not?
I think he's saying he doesn't think they are.....he's saying they are.

Not sure he's right on that though, not in the traditional sense, like most of these shops they seem to hedge their risk and exposure on aggregate rather than bucket losing trader's trades.
  • #11
  • Last Post: Jun 1, 2010 5:59am Jun 1, 2010 5:59am
Quoting Xaron
The FxManager stuff works very well. It's somehow different to all those PAMM accounts for MT4 out there. You could try their FxManager Game platform (you can invite yourself).

The only drawback is that you can't open and close trades independently for each client. So if you trade long term and get a new client you have to "reproportionate" all clients which results in a merge of positions in the same pair. It's a bit hard to explain, just try it in the game interface.

Nevertheless it's a very good tool.
Reproportioning, as conceived and implemented by Oanda, is a critical, long-overdue drawback, in my view. It's the one thing they got so wrong, when FXManager was launched in the summer of 2007... and it's still wrong, 3 years later.

It affects not only all future trades (that's good), but also all open trades (that's... really bad) , whenever there is a deposit by any client; or a withdrawal by any client (e.g., to take out partial profits); or a risk profile adjustment for any client; as well as a new client coming on board.

There are certain ways to work around that problem, but they make your life as a manager more difficult, somewhat negating the advantages of FXManager as a multi-client trading platform
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