OANDA Discussion | Page 47 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Oanda GM Discussion 0 replies

Oanda users - Oanda widening spreads 62 replies

Oanda order filling discussion 6 replies

OANDA Canada vs OANDA Corp. 4 replies

Euro/Dollar discussion 9 replies

Attachments: OANDA Discussion
Exit Attachments

OANDA Discussion

  • #921
  • Edited 10:05am Sep 3, 2009 9:44am | Edited 10:05am
The fxgame is working fine, but the moment I trade live the whole platform freezes up, have to manually close and re-log in. NOT happy with this ,what am I to do?
  • #922
  • Oct 7, 2009 11:33am Oct 7, 2009 11:33am
Hi all;
Over the past few years, I've had live accounts with just about every major broker discussed on this forum. I've always had Oanda, with another 1-2 brokers trading simultaneously. The only broker I've never had any issues with has been Oanda. Platform is easy to use, never had a single problem with executions (granted, I trade off Dailies - no news, scalps, etc...) and have been consistently profitable.

My questions / concerns:

1) I'm considering consolidating all my accounts and just going with Oanda but worry about putting "all eggs in one basket". I'd like your thoughts on their stability / longevity.

2) I don't seem to get the FIFO compliance with Oanda. I've "chatted" with them and they gave me details/assurances but I just don't see it. I can take as many positions on a pair (in the same direction) and close any position on that pair in any order, at any time. I'm not complaining... it IS the reason for my consistent profitability but have this feeling about them "skirting around the FIFO rules", in which case, it won't last long.

Any thoughts? Thank you.
  • #923
  • Oct 7, 2009 12:08pm Oct 7, 2009 12:08pm
Quoting pipimo88
Hi all;
Over the past few years, I've had live accounts with just about every major broker discussed on this forum. I've always had Oanda, with another 1-2 brokers trading simultaneously. The only broker I've never had any issues with has been Oanda. Platform is easy to use, never had a single problem with executions (granted, I trade off Dailies - no news, scalps, etc...) and have been consistently profitable.

My questions / concerns:

1) I'm considering consolidating all my accounts and just going with Oanda but worry about putting...
Oanda is very well capitalized and a very honest broker, but i heard that if you trade large volumes with them and keep profitable, they will close your account and ask you to leave.
I cant understand this FIFO rule too, but i think it just aply to lots of the exactly same size, so its not a problem.
  • #924
  • Oct 8, 2009 10:15pm Oct 8, 2009 10:15pm
Can anyone else confirm that Oanda may close the consistently profitable large accounts?
  • #925
  • Oct 8, 2009 10:22pm Oct 8, 2009 10:22pm
Quoting pipimo88
Can anyone else confirm that Oanda may close the consistently profitable large accounts?
I smell bullshit.
  • #926
  • Oct 9, 2009 12:27am Oct 9, 2009 12:27am
Quoting GulfCoastPip
I smell bullshit.

So do I.

FOrex37
  • #927
  • Oct 9, 2009 6:39am Oct 9, 2009 6:39am
Quoting pipimo88
Can anyone else confirm that Oanda may close the consistently profitable large accounts?
Well that is wat i read from reviews, and Felix from FPA says that too, but i cant confirm its true ...
  • #928
  • Aug 19, 2010 2:36am Aug 19, 2010 2:36am
Hello ,
I saw that many traders post chart of their trades on Oanda where we see their entry and exit .
Do you know how to do that ?
“Aim for the highest.” Andrew Carnegie
  • #929
  • Aug 19, 2010 5:12am Aug 19, 2010 5:12am
Quoting tiagor33
i heard that if you trade large volumes with them and keep profitable, they will close your account and ask you to leave..
Hi everyone,

I'm total FX newbie. And this is my very first post on FF.

I can't understand what incentive a broker would have in closing down a successful account. Or, to put it another way, how is it damaging to the broker if one of their clients is successful?

Surely it is in a broker's interest to help a customer succeed. A successful customer will trade higher volumes as his/her account grows, leading to more revenues ...

Or am I missing something fundamental about the FX industry. Everywhere I look on forums like this, brokers are being slammed. Are there no reputable brokers? Or are there simply thousands of loser traders looking for someone to blame?

Cheers

D
  • #930
  • Aug 19, 2010 6:50am Aug 19, 2010 6:50am
Quoting dabbledave
Hi everyone,

I'm total FX newbie. And this is my very first post on FF.

I can't understand what incentive a broker would have in closing down a successful account. Or, to put it another way, how is it damaging to the broker if one of their clients is successful?

Surely it is in a broker's interest to help a customer succeed. A successful customer will trade higher volumes as his/her account grows, leading to more revenues ...

Or am I missing something fundamental about the FX industry. Everywhere I look on forums like this, brokers...
Hello dabbledave,
If you actually Are new to ForEx... take this from one who has been new too yet thank God has been able to look above the natural responses, and see the need to share.

There are sufficient reasons to be bitter and disillusioned. But Jesus Christ Died (and was resurrected) for us all that we may not have all to suffer, and that some may resist Evil by turning the other cheek. So while there is time yet (before you too become bitter and disillusioned because no one helped), may I suggest a place to start where you may actually, in a short time, provided you can overcome/conquer yourself, be humble and willing to read and research a lot! before asking too much. Have a look here:
(1) http://www.forexfactory.com/showthread.php?t=222988
{Please!, read the entire thing from the first page BEFORE going onto (2), Sucess requres lots of effort, especially in the ForEx }

(2) http://www.forexfactory.com/showthre...90#post3960190

Remember S/He Who Would Begin To Learn Must First begin With HUMILITY.

In Jesus's Name, HalleluJah!

Bless
  • #931
  • Aug 19, 2010 11:23am Aug 19, 2010 11:23am
Quoting pathumracled
Hello If you actually Are new to ForEx

...

before asking too much. Have a look here:[/font][/color]
(1) http://www.forexfactory.com/showthread.php?t=222988
{Please!, read the entire thing from the first page BEFORE going onto (2),

...
Bless
Yes I am a humble newbie. And no I wasn't asking to be sold on a strategy.

While I am a newbie, I'm not stupid. I'm certainly not going to blindly follow you into your flock.

I was asking about brokers, traders and the seemingly tense relationship between them as reflected in threads such as this one.

Cheers,

D
  • #932
  • Aug 21, 2010 11:00am Aug 21, 2010 11:00am
Quoting GulfCoastPip
I smell bullshit.
Dude check your pants
  • #933
  • Aug 30, 2010 7:36am Aug 30, 2010 7:36am
I had a problem of occasional price spikes which i couldn't spot in other broker's charts.
  • #934
  • Aug 30, 2010 5:53pm Aug 30, 2010 5:53pm
anyone from malaysia using Oanda? i try to fund my account but bank told me that wire fund to forex company is illegal.. what should i do? thanks for the help
  • #935
  • Oct 10, 2010 7:24am Oct 10, 2010 7:24am
I would like to open a small account and have read than Oanda seems to be the place to do so. It seems you guys give Oanda a better review than FXCM, Forex.com, and other brokers that allow small deposits.

Oanda's charting is not the best. What charting system do you use if you don't want to use theirs? Is there free real-time charting available or do you have to pay?


I've also read that some brokers will prevent you from closing out profitable positions, how can that be? Or that some brokers will just have you close your account once you're too profitable and get too big, perhaps $20K+ account size... how can that be?

I'm not a scalper, I would hold positions for a week to over a month at a time until the trend reverses.

I like FXCM charting and platform better than Oanda, which broker and charting system do guys recommend, and answers to the last two questions would be appreciated.

Thanks
  • #936
  • Oct 12, 2010 8:07am Oct 12, 2010 8:07am
I am using oanda and having no troubles.
  • #937
  • Oct 14, 2010 3:56am Oct 14, 2010 3:56am
I find Oanda's live platform pretty user-friendly. Customer service is so-so, however their charts could be better. For charting I use a free demo broker MT4
  • #938
  • Oct 14, 2010 4:21am Oct 14, 2010 4:21am
Quoting Jj13
I've also read that some brokers will prevent you from closing out profitable positions, how can that be? Or that some brokers will just have you close your account once you're too profitable and get too big, perhaps $20K+ account size... how can that be?
I'm fairly new, but it seems from all I have read so far, that many brokers don't want you to make profit....bucket shops. Don't ask me how they get away with it, but they do. Haven't heard anything bad from Oanda overall except something about that they close your losing positions at a certain point whether you like it or not and that is why I did not chose them. I think they don't want you to make money the smart way by holding onto positions too long if you know your pairs.

I read this on a broker review site under pros and cons, so you may want to do some checking just in case.
  • #939
  • Oct 14, 2010 6:13am Oct 14, 2010 6:13am
Quoting klrman
I'm fairly new, but it seems from all I have read so far, that many brokers don't want you to make profit....bucket shops. Don't ask me how they get away with it, but they do. Haven't heard anything bad from Oanda overall except something about that they close your losing positions at a certain point whether you like it or not and that is why I did not chose them.
I think the majority of upset traders lose money due to their own trading decisions. Where traders run into problems is when they start to receive requotes from a dealing desk. If the losses happen because of tech issues, then that's a whole other story.

Every broker will close your positions due to a margin call if the losses on your trades become too large. Otherwise you would end up owing them money. I don't see how this would be a bad thing.
  • #940
  • Oct 14, 2010 7:38am Oct 14, 2010 7:38am
Anybody having problems with Oanda's platform? I have no access to their servers for the last 8 minutes.
7 traders viewing now