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OANDA Discussion

How much longer will oanda keeps the spreads on usdjpy at 5pips? Can't trade like this. They probably expect a BOJ intervention at any time.
on the whole oanda is good , but sometimes its having ridiculous spread . 5 pips this time.
short EU now if u want to profit
I have past history of statements to justify what i say.
I used FXCM and no problem. I just start looking for other with less spread. Think about choose oanda, but after what I hear in this forum stay with FXCM. Some traders can`t log in on NFP news.
Here what oanda writh me:

Thank you for contacting OANDA.
You may deposit any amount you wish to start with—there is no minimum deposit required. However, note that the smallest MT4 trading size is the micro lot (1,000 units), so at a leverage of 50:1 the minimum amount of margin required to make this minimum trade would be 20 units (or more for lower leverage).
Because of the flexibility of the trading size, we do not define the account we offer as Standard, Mini or Micro. The type of accounts we offer is Individual and Corporate.
Scalping (enter and exit the market in a very short period) is allowed in OANDA.
We hope this information was helpful. Please feel free to contact us anytime should you have further questions. You may also call us at +1-877-626-3239,1-416-593-9436 or click on 'Live Help' in the following link.

I am with FXCM no dealing desk!
Once scalper always scalper
HAHAHAHAHA.........there is no such thing as safe broker in forex..........get tt into your head
I have past history of statements to justify what i say.
Quoting freemen
I used FXCM and no problem. I just start looking for other with less spread. Think about choose oanda, but after what I hear in this forum stay with FXCM. Some traders can`t log in on NFP news.
Here what oanda writh me:

Thank you for contacting OANDA.
You may deposit any amount you wish to start with—there is no minimum deposit required. However, note that the smallest MT4 trading size is the micro lot (1,000 units), so at a leverage of 50:1 the minimum amount of margin required to make this minimum trade would be 20 units (or more for lower...
Oanda's spreads are the best and they are honest, they don't try to deceive anybody. FXCM every month talk to themselves as they interview themselves after an imaginary person won $40000 on King of the Microlot.
Quoting StephanusR
Oanda's spreads are the best and they are honest, they don't try to deceive anybody. FXCM every month talk to themselves as they interview themselves after an imaginary person won $40000 on King of the Microlot.
I agree with you. Oanda does not have that cheap feel to them many brokers do. But spreads have been a little too high lately.
I found a penny today. That's +100 pips for me.
Quoting eu_trader
HAHAHAHAHA.........there is no such thing as safe broker in forex..........get tt into your head

There is 1

lmaxtrader.co.uk a real broker not a marketmaker like all the rest
Quoting TheGrind
I've never bitched about my broker, EVER, but enough is enough.

I've been with Oanda for over 7 years. When I started with them, no complaints. Over the years, a few trades they wiped out because of "feed issues". No biggie, I took my lumps and stayed with them...

But come on!!! The spreads are getting ridiculous!!!!! I can get better spreads with a Russian bucket shop! I'm currently looking for another broker and will move when I can find one with good spread, NO Mt4 and good market hours.
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I should care about how much is the spread? 1.3 or 6.0 or even 25?

In each month from 1 to 15 there are the news release trades.
In this days I am playing with wider SL and TP. Sometimes 30 pip sometimes 100 pip SL. I am trying to enter before news release and try to survive the news spike. When is the news release is tho "safe to trade", I agree with that. But understand the Broker too: he needs to make some money too: When is the huge demand it is increasing his price... to keep the spread at nothing at non news releases.
If you try to write a software, which has Oanda: collect the small trade sizes, do internal deals, what you can and cover yourself at interbanking channel when is very-very volatile price moment, that is very-very hard to not get loses. What can you do?
- wide the spreads
- do a considerable slippage.

And as client of Oanda what do you prefer slippage or wide spreads?

BTW after 15 of each month the normal state of the market is calm, quiet until the last week. I can play with 5-15 SL and 15-30-50 TP

Somewhere I saw the higher is the timeframe, than is safer the profit.
1 , but max 3 trade ( the corrections) is enough for me in this days.

And it is MT4 at Oanda
I want to buy PATIENCE
^ And why put yourself at such a great disadvantage? If you want to trade news, pick a suitable bröker. News trading with Oanda is just dumb imo.
There Are no Perfect Broker. They may start with good intentions. They may be registered with with the CFTC. But their Job is to separate you from your money. And now that The Dod Frank has been implemented their Cash flow is Tempered so they have to find a new way to separate you from your cash.
This may include but not limited to higher spreads unexplained spikes, and orders not being filled.
Best Regards Moneymike
Quoting Marv
^ And why put yourself at such a great disadvantage? If you want to trade news, pick a suitable bröker. News trading with Oanda is just dumb imo.


I know, Oanda is pretty clear that they don't want news traders.
Don't wish it were easier, wish you were better. ~ Jim Rohn
Quoting moneymike
But their Job is to separate you from your money.
This is only true for bucketshops where all of the bröker's participants trade within an internal order book organized by the bröker, and where the bröker either takes the other side of your trade or matches it with that of another participant(s) belonging to the same bröker. It's pretty much a casino-like situation where, obviously, the casino would profit most from everybody losing.

In a true ECN environment, the bröker should have no interest in you losing money. This is because the money you lose is simply going to the other anonymous trader(s) on the other side of the trade (zero sum game). This other trader either belongs to the same bröker or to one of the bröker's liquidity provides within the ECN network. Your bröker's only interest here is to make you trade higher volume so that 1) they make more money in trading fees, and 2) you add more liquidity to the orderbook (more liquidity = good for everybody). Other than that, they don't care if you lose or win. They actually prefer you win so that you grow your account and trade higher volume.
True but if ever there is a new broker that allows you to trade as small as you want and provides a stable user friendly platform that has little to no Slippage And a Iphone app, i'll Run to them faster than Marion Jones On steroids. Until Then Oanda even with it's Higher Spreads is my lesser of evils.
Best Regards Moneymike
Quoting moneymike
True but if ever there is a new broker that allows you to trade as small as you want and provides a stable user friendly platform that has little to no Slippage And a Iphone app, i'll Run to them faster than Marion Jones On steroids. Until Then Oanda even with it's Higher Spreads is my lesser of evils.
So MBT then?
Quoting IndyTrader
So MBT then?
he said stable platform , so no .
Quoting StephanusR
Oanda's spreads are the best and they are honest, they don't try to deceive anybody. FXCM every month talk to themselves as they interview themselves after an imaginary person won $40000 on King of the Microlot.
What give this good spread if you on the news can`t log in the platform. I am scalper. I love news this is my bred and butter. Now I make more money for broker, but I also shure thet on every news I will can gamble
Once scalper always scalper
Quoting moneymike
True but if ever there is a new broker that allows you to trade as small as you want and provides a stable user friendly platform that has little to no Slippage And a Iphone app, i'll Run to them faster than Marion Jones On steroids. Until Then Oanda even with it's Higher Spreads is my lesser of evils.
The only advantage Oanda has compared to good ECNs is trading as small as you want.
ECNs typically give you the prices they are dealt from their liquidity providers, with the exact same spreads, but then charge a commission for every round turn trade. This allows them to give discounts to high volume traders, lowering their costs, but to most traders, it is really irrelevant whether they are made to pay a commission with a tight spread or no commission with a higher spread. It works out to be roughly the same, depending on which brokers you are comparing, and what current spreads are like.
So it's not fair to compare Oanda with a ECN as they Both have totally different business models, If possible i would like to see a trader Trade a Ecn and a market maker with the exact same trade same Balance and then find out which paid more which made more.
Best Regards Moneymike
7 pip spread on eur/chf. over at least 4 hours now.. this is discusting!
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