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...
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There was a "bad data" spike on all CHF pairs that day, and it wasn't just Oanda.
As for your screen shots... I would have to say that's pretty damning evidence. Not sure how to take that, and have no idea how that happened.
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...
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4th October and still no sign of my money. I'm going to the FSA today
Been with Oanda since 2003..... no serious problems or issues.
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Same here, 2003.... I have a 4 digit account number.. No negative issues with them. I like the instant execution with no re-quotes. The only "slippage" I ever get, is if I hesitate to pull the trigger. And that's not even slippage, it's just hesitation.
I noticed today how oanda manipulates price. When price was a few moments before recent spike up, price was at about 3479 while in the mean time, price at netdania tick chart, that is usaly 3sec behind, has already spiked up to 3490ish. That give theam advantage of at least 3sec(i would go for 6sec, becouse i had to wait for a few moments util price went north) I dont have any evidence to show it to you, but i dont trust this broker. I need a new one.
I have been with OANDA for several years and am happy with their service and products. However, my account balance is now getting to the point where I need to find a broker that segregates funds...
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Joined Dec 2010
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Status: monkey keyboard warrior
|896 Posts
been with oanda for two years,trade small amounts had drawbacks and also big winners never had problems taking cash out,there used to be disconection problems year ago,but never now,their mt4 is a bit slow,but their web platform works as fast as any ECN,also live support is always there and helpful.I think they are one of the best affordable brokers,and most clients,also they are the ones to implement all new changes and regulations by fsa.nsa and goverment,what you cannot say about brokers who are based in Cyprus and other holes without any transparency how they dealin.
OANDA's web platform is very good, I actually prefer it to MetaTrader.
In terms of withdrawals, OANDA can be very slow, 5 - 7 days, but this is the case for many other brokers as well. Some brokers are now starting to offer Paypal withdrawals though, which takes drastically less time.
All in all, I like OANDA, I'm exploring other avenues because their 1:50 leverage is restrictive. Although it is useful for decreasing risk and good money management, my strategy is a bit more aggressive for the goals I have; and thus I require some higher leverage.
Some real "stalwarts" with thousands of posts talking about their years of experience with Oanda so I feel a little overwhelmed. I have been live with Oanda for only 3 short months after being on demo with them for 2 years. I have not faced a single disconnection issue (except once for 1-2 min) either with MT4 or FxTrade. I look at their MT4 charts and place my orders on FxTrade.
I used my credit card to deposit funds to Oanda Uk and the funds showed up instantly in my Oanda account. So I can't relate to the gentleman who tried to deposit GBP 2400 and Oanda's holding his funds.
Executions of trades is instant. Never required to contact their customer service as yet so can't comment :-)
Oanda offers tremendous flexibilities :
a) Position size (any number of units)
b) You can change the time zone of your charts in FxTrade (I have my MT4 set to EST by default and I changed FxTrade to GMT so that I can look at obvious pivot points and it really exposes the levels of confluences)
That was also my experience. Loser and break even for 3 years. No big issues only sporadic disconnections around big news.
On my 4th year I started to make reasonable money and the disconnections grew with my account or should I say my account grew despite the disconnections.
2011 as I started making pretty good money the platform instability went to a point where I could barely trade.
Changed brokers and no disconnections so far. I'm happy!
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That was my experience with them. I did read about similar things around but I only can say what happen to me personally so take your own conclusion.
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Joined Nov 2009
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Status: Junior Member
|2 Posts
I have the same issue as yours. Still waiting what's gonna happen. When I did deposit it said declined, but they got the money from my account. Will see.
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...
