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OANDA Discussion

Quoting Cocoflanel
When did that started ? news = disconnect ?

20 minutes after news , still no connection here..
I would say within the minute. I was seeing the big spike... then everything went offline... first the FXTrade applikation.... then the API (about 1 minute later)... then I wanted to go online www.oanda.com.... but the site didnt work either...

15 minutes after news everything was working again...
Other people might have had different experience...
this pig cannot be slaughtered for ever... or can it?
I still have price lag in the graphs... but not in the trade list and quote panel window...

At least they seem to have the pricelag only in the graph window... might be a different server or something... its strange...
this pig cannot be slaughtered for ever... or can it?
I've been trading Oanda for some time now. Absolutely no issues trading with them at all, that was until today. It was too hard to pass up the huge spike after the news. I had a 10 pip spread, which was okay. I knew there would be a fast pullback, so I hit a sell at around 1.4160. Well, when it finally did post the sell, the price was 1.4123, then the platform and web connection to Oanda shut down completely. It took about 15 minutes to finally get back online. I thought I would surely have been stopped out for a loss, but my profit hit while everything was shut down. The cool part was I had slippage in my favor for 8 pips. My take profit was automatically set at 20 pips.

The interesting thing is that today I decided to trade my IBFX account side by side with Oanda. I sold on IBFX first and had an instant fill at 1.4142. I saw price continue up and that is when I tried to place my order with Oanda. I closed my IBFX trade at 1.4088 for some very nice profit. I never lost my connection with IBFX. I was lucky that price was traveling south in my direction on Oanda. I thought for sure it was going to be a loss, but as I said it ended up as a profit of 28 pips.

My conclusion from this experience is that if in the future I am inclined to trade the news, just shut down my Oanda account for 20 minutes or so right after the news. Then just trade my other account because it is reliable during the volatility at news time. As I said, Oanda has been real good in a more normal trading environment. Lesson learned!

Coach
Hey Coach!

I have recurrent problems with Oanda during volatile pa - not just news, but any kind high-end volatility. Got disconnected trying to trade aftermath of FOMC today - 15 minutes after the announcement @ low spreads. Since I like to trade in volatility this is a bummer.

Oh well.

Happy Trades.
"If The Fool persists in his Folly he will become wise." - William Blake
Quoting The Fool
Hey Coach!

I have recurrent problems with Oanda during volatile pa - not just news, but any kind high-end volatility. Got disconnected trying to trade aftermath of FOMC today - 15 minutes after the announcement @ low spreads. Since I like to trade in volatility this is a bummer.

Oh well.

Happy Trades.
Hey Fool!

I am the same as you, I LOVE to trade the high volatility trades, especially a news announcement like today's FOMC. I just had never tried it with Oanda. I'm wondering since there was so much attention surrounding this particular FOMC if that was part of the reason for the disruption in the Oanda server. Yet you are saying it happens often during volatile times. It still makes no sense to me why that would happen though. The spreads are enough to help me stick with them. Today just made me much more aware of potential platform freezes.

I know it was a bummer for you today, but I am sure you are still tearing up the market pretty good.

Best of trading to you.

Coach
Quoting Coach1959
Hey Fool!

I am the same as you, I LOVE to trade the high volatility trades, especially a news announcement like today's FOMC. I just had never tried it with Oanda. I'm wondering since there was so much attention surrounding this particular FOMC if that was part of the reason for the disruption in the Oanda server. Yet you are saying it happens often during volatile times. It still makes no sense to me why that would happen though. The spreads are enough to help me stick with them. Today just made me much more aware of potential platform freezes....
I dunno, Coach, there used to be less problems with Oanda and volatility trades.....
"If The Fool persists in his Folly he will become wise." - William Blake
Quoting The Fool
I dunno, Coach, there used to be less problems with Oanda and volatility trades.....
Exactly, I remember in 2009 their were major news releases and everything was running fine. Maybe too fine...

Now since the middle of 2010 like the three biggest news reports in a row, all failures for oandas reputation... It is not very encouraging.. I always tell to myself I am going to prepare somehow for the future disconnection event... but seriously, the only thing I can do is close my positions...
Its like forcing me to do something...


P.S.:...funny that is what all experts say you should do anyway... stand on the sidelines... ha!
this pig cannot be slaughtered for ever... or can it?
Oanda froze up during the previous nfp as well. Lesson is, don't trade with Oanda in these periods. That being said, I've been with them for 2 years and think they are fantastic.
I didn't trade the news with Oanda today but the application was additionally running.

Connection wasn't stable - it went from green to yellow,charts lagged and the quote panel froze sometimes.

Spreads were "OK" but last time there was too much slippage.

I don't trust them although news trading / volatile times is one of my most profitable trading method.
Quoting The Fool
I dunno, Coach, there used to be less problems with Oanda and volatility trades.....
And that's the problem. If I were brand new and didn't know any better, broker issues during high volatility wouldn't surprise me, but Oanda has always be a leader in simplicity, integrity, and execution.

If you want to trade the news you just have to get OK with the variable spreads, but the disconnects and unstable platform (even during regular market hours) is ridiculous.
Quoting Low
If you want to trade the news you just have to get OK with the variable spreads, but the disconnects and unstable platform (even during regular market hours) is ridiculous.
Of course the cynical take is that a widened spread has proved not enough disincentive for the savvy volatility trader and the more serious risk-of-ruin imposition of actual disconnects, platform freeze-ups, etc is now what is required to deter them...

Nah, dey wouldn't do dat would dey...? Bet it'll work alot better than a 10-pip spread, though....
"If The Fool persists in his Folly he will become wise." - William Blake
Welcome to retail-level internet trading everybody.
You'll find NO bröker with 0 problems.

I like oanda for sure, but if I had a 6-7 figure I would most probably trade with IB.
Quoting zackyat
last night i chatted with a representative from fxcm
when i mentioned oanda, he kept on mentioning that oanda is a very small company and not reputable. haha i understand that he's always going to back fxcm.
however, to all oanda live customers out there, have you faced any notable problems like difficulties in withdrawing fund etc...
appreciate if anyone can share their opinions here
Btw, both OANDA and FXCM accounts (as well as many others) can be used for trading through the free PT multistation trading terminal. Full list of vendors: http://profstation.com/vendors/brokers

It's pretty advanced trading software as well, as its based on the front-end to this developer's ProTrader brokerage platform front-end.

Some advanced tools rather difficult to grasp though.
If you're seriously going to measure a brokers connectivity, it needs to be done over time, not hinge on one single news event here or there. Unless of course your only time spent trading is on major news which judging by some of the posts, appears to be the case.

Both platforms I have, Oanda and MB, had problems yesterday during the FOMC. It was not surprising- price moved 120 pips in a heartbeat. Sure its frustrating but the other 98% of the time I'm trading, things run like a well oiled machine. And if you can't make money during those times, then platforms shouldn't be your concern.

If you come to play when all the cowboys have just left the bar hammered and guns are a blazing, don't be shocked when you take a few.

The smart cowboys stay in the bar and order another beer.
Strange. I havnt been trading in the last year too much but this is surprising to hear. During 2008 in the worst of the gfc oanda was brilliant. I don't know what has happened if what you guys say is true.

Hope oanda pulls it's socks up.
There's no post regarding today's disconnection after NFP release. Mine was cued in the moderation but never got posted. The openness of OANDA was beyond any other broker, hope it will not change in future.
Quoting freden
There's no post regarding today's disconnection after NFP release. Mine was cued in the moderation but never got posted. The openness of OANDA was beyond any other broker, hope it will not change in future.
no disconnection here but tried to execute some small size right after the numbers, just not possible
Same here, no disconnect but just a "lag out" which is more or less the same as getting disconnected.
Quoting bugscoe
Same here, no disconnect but just a "lag out" which is more or less the same as getting disconnected.
True, prices were streaming but what's the use if you can't get execution...
Quoting Cocoflanel
no disconnection here but tried to execute some small size right after the numbers, just not possible
I was on and off for couple of times, cann't do anything for about 10 mins, not as bad as past couple of times though. But still, all my four other brokers had no such pattern during news, maybe some widing spreads or slow execution which are totally understandable.

I think we should chip in some money to buy a much better server for Oanda.
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