Years with OANDA?

How long have you been with Oanda, and wwhat are your experiences, and are they trustworthy?

I have been reading lots of criticism, bad news, disgust, angry, happy, satisfied, and some neutral responses from Oanda clients and people that uses Oanda.

I'd like to know how long have you been trading with Oanda (profit traders, not traders who come in and out of months because of bad trades and then make it back, im talking about profitable traders) and what your experiences are with them. E.G. plat form technical login issues, exeuction problems, etc etc.

For instance, i've heard that some people after 5 years would be having trading technical issues on the standard platform, where they can't trade, and that the customer service will not help and delay the situation until several days. They will not provide the trade desk info, nor the managers at the job.

This worries me, because I am with Oanda, and I have been very profitable for the last year, and I am not wanting to go through this.

3 years and overall they have been good, but I think there has been some technical issues with the MT4 integration. They have a helpdesk that issues a ticket number and there is follow up and follow through on issues.

There have been connection issues in the last year, but I think it has gotten better.

check out the "oanda discussion" thread under brokers.

I am with OANDA since the early months of 2010; sadly OANDA 2011 does not compare favourably with OANDA 2010.

However, I think OANDA is still just about the best there is. And this is what scores heavily for them: at least half the time I get positive slippage whenever there is more than 1 tick delay in fills.

I have used a number of Forex brokers, and have not had the pleasure of experiencing this with any other.

Khalid

6 years now. I haven't found any better though and I've tested quite a few.

Been with Oanda since 2003.
They almost lost me as a satisfied and happy customer in 2009-2010 when disconnections problems began to be a routine during news / volatility...
I'm not talking about 10-15 seconds disconnect/reconnect but for periods of 20 minutes to hours being unable to access the platform and trades during heightened volatility moves.

I still have an account with then (migrated to Oanda UK, because of the stupid US regulation rules), but only make swing and long term trades with them. I'm trading less and less with them volume wise.

They clearly don't care about the availability of their platform, and that's a big problem for me. During the years I've never received an email for any of the disconnections problems, any excuses, explanations or a hint that they will try to improve, showing that they clearly don't care.
Now, I prefer to have a little bit wider spread and trust the availability of the platform I use. In the end the peace of mind of not worrying about disconnections helps tremendously with trading the short term moves, especially with the current volatility environment.

Oanda is still a good broker, but the competition have clearly closed the gap... Without big progress in the quality of service (platform and availability) in the years to come, I will not trade more volume with them, and could even possibly close my account...

what are the size of your positions when you started to notice the problem? If you don't mind, you can aslso PM me.
thanks

Size of the trades were never a problem as the disconnections were always general and for all traders and not targeted just at me...

i recalled that there were several clients who were affected because of the volume they were trading.

I have been with Oanda since about 2006, and I just recently experienced my first major problem.

They completely lost a $300 deposit I made via a debit card (they only take credit cards, which is what caused the problem). They took the money from my bank account, but never credited it to my Oanda account. So instead of just rejecting the deposit, they made the money completely disappear. Then they tried to blame it on the bank. The bank put the money back into my account and is going after Oanda themselves for it, since I sent full documentation of what happened (including screen shots and transcripts of 2 sessions with Oanda's online help).

I like Oanda's platform and policies (like trading in any amount, interest calculated to the second, etc.) but their cash management system is horrible. They make it hard to deposit funds quickly, and they have this weird rule about how you have to withdraw the cash using the same method you used to deposit it (which makes no sense at all if you've used 3 different methods to deposit in the past).

Their online help is useless also, except that you can use it against them as evidence in your case if they lose your deposit.

I'm having an interesting situation with oanda at the moment.

last week I transferred a lump of money (£2400 GBP) from my business account to my trading account. This was the second time I'd done this but I got contacted a couple of days later querying the source of the funds.

After some backwards and forwards emails it turns out they won't accept my fuinds from my business bank account so on Friday I ask them to return it.

yesterday I contacted support to ask if it had been done and they said they were 'processing' it. Today (Tuesday) I get an email say they are "are initiating contact with our bank to have your funds in question returned to the original sending bank account".

Just how long and why do they need to hold on to my money for? It's been with them since last Wednesday 21st and it's now Tuesday 27th...

I might complain to the FSA if they hold on to it much longer. As someone who trades gold and silver they couldn't have picked a better time have me out of the market.. Just as well I have another account with a different broker..

Xaron, LasVahGoose, Kahlaad, fxswing, capitalist88, ddinnov, and others with experience on Oanda,

Does Oanda offer you liquidity for big orders (500,000 to 2,000,000units)? how would you go about this as you trade big orders?

the difference about them and dukascopy is that they only offer 100 standard lots size per ticket....whereas dukascopy offer 5000 standard lot size per ticket......if a huge investor wants to invest 5000 standard lot size, which would be more convenient to trade with? A broker that needs to click 50 times or one that just need to click one time......

There is absolutely no issue with liquidity, 2mio size, or 10mio get filled instantly and in one price. Liquidity is one of the reasons why I like Oanda.

As for the filling of 5000 lots, which would be 500mio (half a yard!), no, you would not be able to do this with a single click. And yes, you could click 50x to get 10mio fills to build your position, but no money manager would fill his order this way. Filling such large position requires a bit of planning and consideration.

I suspect we are not talking about standard 100,000 lot here?

in demo I got the please wait screen all the time, and chart freezez

any of the main brokers will have many non positive reviews, im trying to figure out other ways to trade forex

dukascopy offer 5000 standard lots in one click.......

If you deal with Oanda and have a live account with them, be weary if you start to make money. First all, I have been actively trading for a little over a year now and I am a counter trader. I have had some rought times with the FOREX like everybody else I’m sure have experienced one time or another. Recently I have found a system that I have perfected and it has been working great for me. If done correctly with patience and discipline waiting for the perfect setup, this system is loss proof (trust me it is), as long as you have the patience to wait for the perfect setup. It my only come once or twice a day. Anyway, being a counter trader, I believe during this one trade of a spike that I entered LONG on USD/CHF, I caught Oanda off guard when I entered the trade and made (no BS) $5600.00 in less than one minute. I don’t think they were very happy with that because not too long after that they sent me the following email “ SUBJECT: Notification of impending corrections to your FXTrade account XXXXXX due to rate spikeEMAIL BODY: Dear Riki Olivier Sr,
Our FXTrade system was provided with invalid pricing data (a situation known as
a rate spike) for the following currency pair(s):

- USD/CHF, from September 20, 2011 5:02:00 PM EDT to September 20, 2011
5:06:23 PM EDT
- EUR/CHF, from September 20, 2011 5:02:13 PM EDT to September 20, 2011
5:06:08 PM EDT
- NZD/CHF, from September 20, 2011 5:02:00 PM EDT to September 20, 2011
5:06:23 PM EDT
- AUD/CHF, from September 20, 2011 5:02:00 PM EDT to September 20, 2011
5:06:23 PM EDT
- CAD/CHF, from September 20, 2011 5:02:00 PM EDT to September 20, 2011
5:06:23 PM EDT
- SGD/CHF, from September 20, 2011 5:02:00 PM EDT to September 20, 2011
5:06:23 PM EDT
- GBP/CHF, from September 20, 2011 5:02:00 PM EDT to September 20, 2011
5:05:17 PM EDT

When any trades take place during a rate spike, our system must reassess all
trades that may be related to the spike (as well as certain standing orders and
open trades). This reassessment requires that these trades and orders be closed,
with new ticket numbers issued to reinstate the valid trades and orders.

We are currently taking action to correct the results of the rate spike(s) for
your account.Another notification with correction details will be sent when the
process has completed. If you have any questions or concerns, please go to
http://fxtrade.oanda.com/support/ to contact the OANDA Customer Service
department.

Regards,
The FXTrade Team
OANDA Corp.

Well they never did get back to me cause I personally believe that there was nothing they could do about it. After this trade, Oanda has been actively trying to get back their loss from me by noticeably trading against me and being dishonest by putting up fake charts on my platform. I only trade the M5 chart which I know now they are aware, and the other day I went into a trade like the one that I got them with NZD/USD but it was a fake screen. Thank goodness for some reason I thought something was fishy and exited the trade with not loss. The screen that I was seeing on my M5 chart showed a similar spike like the trade that I benefited on, but no other screens M1, M15, M30, H1 and so on showed any spike on it. The following day after logging on to the platform, the spike from the previous day that was there on my chart was gone. I have attached the screenshots of what I am talking about. As you can see, the M5 chart does not mirro not other charts. These people will do anything to keep you from being successful and making any kind of money from them. Any suggestions there.

For a considerable slippage.

Pollux,
what do u specifically mean by "considerable slippage"?
thanks Sir

I decided to try Oanda out. I was having issues with the demo at first, entering, exiting or modifying orders were taking up to 30-60 seconds to process. I spoke with a helpful live chat associate and they informed me it was only a demo thing. Well I opened up a live account and had the same issues happen always during normal market conditions. I scalp between 5-15 minutes for some of my trades and well their issues stopped that strategy.

For the most part I liked Oanda, but I refuse to deal with what I see as a broker trick. After 3 days I am bailing on them, not sticking around for them to get their act together, after I was told it was a demo issue I am no longer interested in hearing these are temporary issues on a live account, if they are. I have no proof to what is truly happening at Oanda and can only state what I have experienced, it's not normal to have these types of freezes on orders unless they have modified their MT4, which I trade with.

had same issue with freezes in demo, please wait window