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OANDA Discussion

  • #2,341
  • Aug 1, 2011 2:20pm Aug 1, 2011 2:20pm
Hi,
does OANDA provide live trading with MT4 or just with their own software?
  • #2,342
  • Aug 1, 2011 2:58pm Aug 1, 2011 2:58pm
They support their proprietary platform and also MT4.
You are in a maze of twisty little passages, all alike.
  • #2,343
  • Aug 2, 2011 8:04am Aug 2, 2011 8:04am
i am currently using the java platform. seems very slow whenever i switch the timeframe from hourly to 5 minutes etc the platform freezes few seconds before refresh itself. sometimes can't even log in, it will disconnect & reconnect & disconnect.

is there anyway to speedup java or the platform?
  • #2,344
  • Aug 3, 2011 4:12am Aug 3, 2011 4:12am
this is ridiculous.. 10pip on gbp/usd. for now nearly 1 hour.. oh no i forgot we started out with 30..

whats up with these guys chaught on the wrong side of the move, and now let the costumers pay?

intermarket spreads are at normal level just oanda clients have to to pay or leave..
  • #2,345
  • Aug 3, 2011 4:26am Aug 3, 2011 4:26am
Quoting Umverteiler
this is ridiculous.. 10pip on gbp/usd. for now nearly 1 hour.. oh no i forgot we started out with 30..

whats up with these guys chaught on the wrong side of the move, and now let the costumers pay?

intermarket spreads are at normal level just oanda clients have to to pay or leave..
This kind of incidence is not something new since the beginning of the year. They just need more money to cover their marketing campaign as well as their fat year end bonus.
  • #2,346
  • Aug 3, 2011 4:57am Aug 3, 2011 4:57am
still 10pip.. someone should ring , and wake up the Trading Desk.. they showing the ugly face of a market maker..
  • #2,347
  • Aug 3, 2011 5:52am Aug 3, 2011 5:52am
Quoting Umverteiler
still 10pip.. someone should ring , and wake up the Trading Desk.. they showing the ugly face of a market maker..
gbp$ went down to 5pips , now 2.3pips.
eurchf & gbpchf (among others?) are still elevated though (5.0 & 7.5 pips respectively).
  • #2,348
  • Aug 3, 2011 7:45pm Aug 3, 2011 7:45pm
Quoting Umverteiler
intermarket spreads are at normal level just oanda clients have to to pay or leave..
Oh yeah, what intermarket spread are you talking about and can you provide a log?
  • #2,349
  • Aug 3, 2011 7:45pm Aug 3, 2011 7:45pm
Quoting ForexQuant
They just need more money to cover their marketing campaign as well as their fat year end bonus.
Hilarious
  • #2,350
  • Aug 4, 2011 10:55am Aug 4, 2011 10:55am
Hey guys, wondering if someone can explain what is going on with my stop loss situation on my demo account that I am live trading.

My custom EA strategy has a 25 pip stop loss built into it, but it is becoming quite common that the stop loss gets placed much further away from my order entry than the 25 pips (see attach). Also, when I go to manually change the value, the program does not allow it. And then, the stop loss was less than the 25 pips (see attach).

Another problem, I have had a few situations where no stop loss at all was initiated (see attach).

All kinds of crazy order executions are occurring. I am also testing on Alpari, and these problems are not happening there. How reliable is Oanda at trading with MT4 EA; these occurrences are not giving me any confidence.

Any thoughts?

Thanks CH
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Aud cad no stop loss order.PNG Size: 59 KB
Click to Enlarge Name: large SL 1 - on open trade.PNG Size: 25 KB
Click to Enlarge Name: Now not enough SL on audcad.PNG Size: 32 KB
  • #2,351
  • Aug 4, 2011 2:33pm Aug 4, 2011 2:33pm
Quoting Umverteiler
intermarket spreads are at normal level just oanda clients have to to pay or leave..
I can confirm this (based on LCG Currenex spreads).
  • #2,352
  • Aug 4, 2011 4:08pm Aug 4, 2011 4:08pm
Quoting Umverteiler
this is ridiculous.. 10pip on gbp/usd. for now nearly 1 hour.. oh no i forgot we started out with 30..

whats up with these guys chaught on the wrong side of the move, and now let the costumers pay?

intermarket spreads are at normal level just oanda clients have to to pay or leave..
I noticed crap spreads all day today, it's now 3.5 on E/U. I suspect there was good volume too.
  • #2,353
  • Aug 4, 2011 6:33pm Aug 4, 2011 6:33pm
Quoting Fx93
I noticed crap spreads all day today, it's now 3.5 on E/U. I suspect there was good volume too.
There was Great Volume today, reminded me of the days when the euro fell like a Brick.
Best Regards Moneymike
  • #2,354
  • Edited Aug 5, 2011 12:25am Aug 4, 2011 11:57pm | Edited Aug 5, 2011 12:25am
For any of you who believe that Oanda is a higher grade of market maker broker, think again. Customers of theirs are led to believe that they have competitive spreads and fair interest (swaps/rollovers) payouts. This is not the case any longer. Today they charged higher than usual spreads and maintained those spreads during hours of high volume. Furthermore, they lowered their interest payout on the Indian Rupee and Turkish Lira without either of the central banks lowering their rates. On the contrary, the central bank of India increased their rates last week. Naturally, an increase in rollover was expected, but instead they choose to increase the rollover spread which resulted in lower rollover payout. I know and understand brokers have an obligation to determine what's in their best interest. However, as a fellow investor I feel like I have an obligation to make other investors aware of the unscrupulous practices brokers partake in.

In light of their latest actions, my recommendation is to avoid choosing Oanda as a broker for your investments. It is not easy to find a fair broker, but I will be looking to eventually move my Oanda accounts into my MBTrading and GFT accounts. I have personally experienced tighter spreads, higher rollover and better customer service from them than I have from Oanda. For comparisons of spreads amongst brokers this website http://www.fxintel.com/live/ displays current live spreads across various brokers. Oanda is consistently higher in comparison.

Good luck.

EDIT: Two other brokers I recommend besides MBTrading and GFT are thinkorswim by TDAmeritrade and CitiFX Pro. The latter is FDIC insured.
  • #2,355
  • Aug 5, 2011 12:46am Aug 5, 2011 12:46am
they really do seem to have gone downhill since introducing MT4... I recall a post by someone saying it was a bad sign, but I was skeptical. Turns out they were right.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #2,356
  • Aug 5, 2011 12:55am Aug 5, 2011 12:55am
Quoting LasVahGoose
they really do seem to have gone downhill since introducing MT4... I recall a post by someone saying it was a bad sign, but I was skeptical. Turns out they were right.
I think that was me. Sadly I was right.

It seems more traders are starting to realize the bad direction Oanda has been taking recently. They are starting to find out that they're not really getting the "fairest" deal out there, nor is the bröker as open/transparent and pro-"trader rights" as they claim.

Oanda, unless you get your $hit together, the more serious traders will continue to be driven away until you attract only the low-capitalized newbies.

And by the way, why don't you come here and talk? Other brökers (such as Dukascopy and MBT to name a few) have active representatives who interact with their traders here. Yours on the other hand only "watches" the thread. It gives the impression that you don't care.
  • #2,357
  • Aug 5, 2011 1:19am Aug 5, 2011 1:19am
Quoting Marv
I think that was me. Sadly I was right.

It seems more traders are starting to realize the bad direction Oanda has been taking recently. They are starting to find out that they're not really getting the "fairest" deal out there, nor is the bröker as open/transparent and pro-"trader rights" as they claim.

Oanda, unless you get your $hit together, the more serious traders will continue to be driven away until you attract only the low-capitalized newbies.

And by the way, why don't you come here and talk? Other brökers (such as Dukascopy...
Part of me still hopes it is just 'growing pains' 'upgrade pains', but time will tell.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #2,358
  • Aug 5, 2011 2:15am Aug 5, 2011 2:15am
Unless Oanda breaks the current trend and starts improving their product, I will not deposit another dollar into any of my accounts with them.

If they continue to get worse I will methodically withdraw my funds until completely removed from them.
  • #2,359
  • Aug 5, 2011 3:02am Aug 5, 2011 3:02am
Quoting 2+2=4ex
Unless Oanda breaks the current trend and starts improving their product, I will not deposit another dollar into any of my accounts with them.

If they continue to get worse I will methodically withdraw my funds until completely removed from them.
Ditto.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #2,360
  • Aug 5, 2011 7:54am Aug 5, 2011 7:54am
Go to www.fxintel.com

Choose Daily Average from drop down menue and look at the average spread. Onada 1.5 and on my LMAX I have 0.8 pips spread in average on EU. In average means in average. During good liquidity I pay 0.3-0.4 pips only. I hope Oanda will get back on feet, because I like Oanda a lot and the platform did not crash in months (today during news I got disconnected but I don't trade news). I never clear any Java cash (what I used to do when I had problems), but now everything runs smoothly. I can't complain. Yeah, spread a lil too high, but that don't matter to me too much either.
I found a penny today. That's +100 pips for me.
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