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  • #2,901
  • Mar 29, 2012 12:23am Mar 29, 2012 12:23am
I traded with Oanda. It is good so far.
  • #2,902
  • Mar 29, 2012 10:23am Mar 29, 2012 10:23am
Ok, I am beginning to be bought over into using an ECN broker.
Riding the order flow
  • #2,903
  • Mar 31, 2012 4:48pm Mar 31, 2012 4:48pm
Quoting zonrokoy
yes. Oanda spread widening sucks.
Why? Spreads are only wider when no sane trader wants to trade.
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  • #2,904
  • Mar 31, 2012 4:49pm Mar 31, 2012 4:49pm
Quoting KillerWhale
Why? Spreads are only wider when no sane trader wants to trade.
I think Oanda is for me the broker with the least complaints, very reliable
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  • #2,905
  • Mar 31, 2012 4:50pm Mar 31, 2012 4:50pm
Quoting KillerWhale
I think Oanda is for me the broker with the least complaints, very reliable
And no slippage / slow execution to speak of
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  • #2,906
  • Mar 31, 2012 4:51pm Mar 31, 2012 4:51pm
Quoting Binyamin
Hey eu_trader stop your BS already you are an embarrassment. The maximum lot size of Oanda and CitiFx Pro is 10 mil.

So you are going to sit in front of the screen the whole day entering 10 mil unit size 100 times every time you trade? You never thought of those loop holes in your BS did you? Stop trolling the forum swinging your big dick. Get a life. Who cares about your lot size. This is a discussion about Oanda not your ego.
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  • #2,907
  • Mar 31, 2012 5:05pm Mar 31, 2012 5:05pm
Currently testing the Oanda Demo but with a twist.

http://my.jetscreenshot.com/8353/201...64st-331kb.jpg
Screen shot done Saturday Night so wide spreads showing

Using the FX TRADE Platform to Execute trades which is as fast as Dukascopy ECN Broker. On the FX TRADE you get One Click Trading automactic trade size,TP,SL adding by your Trade Preferences. No Rollovers as your account is +/- interest daily plus your deposited cash also get + interest.

Using the MT4 Platform to place orders and charting as all MT4's even those that claim to be ECN ON MT4 have a delay.

Using both together is near as perfect as broker you could find BUT always a but right.

Widening Spreads: is an issue and yes Oanda is a Market Maker but Oanda are active Currency buyers for Major Markets and thus can provide huge luqudity to there users. Also the max Leverage is 50:1 so if you got less than Ł1,000 forget trading Gold or Silver. Weekends and NY Close to Asia Open. News not as bad as a few years ago but you still need to widen your stops and if needed have Trade Box open with mouse ready to close. Difference from any other platform ? Fast moving market on the FX Trade platform click close it closes instantly.

Great for Scalpers

ECN yes you get tight spreads but your paying commission for the service. Dukascopy I have seen ZERO spreads but in the main 0.8 spread Oanda 0.9+.

Compared to others:

FXCM - Good Execution but negative slippage, Wide spreads
Dukascopy - Nightmare to open an Account. Dukascopy Europe has Lower Min Deposit Requirements. If you got 20K+ this is the site for you
GKFX - Best MT4 Spread Betting Platform

My Mentor @wmd4x uses Oanda and as he is using it thats good enough for me. Used Oanda when I first started trading but left for MT4 but now they got MT4 and you can use both platforms as ONE I like it.

As a side note those platforms claiming to be ECN on MT4 are really STP as MT4 was never designed for ECN. MT4 was designed for Market Makers to buy an off the shelf operating system and its cheap to run. That is why you get small MT4 Brokers popping up everywhere.
  • #2,908
  • Mar 31, 2012 5:41pm Mar 31, 2012 5:41pm
You are right men!!!! Oanda is a Legalised theft in forex market. i just closed my account!!!!!!!

Quoting PeterE
sucks is an understatement, it is legalised theft
  • #2,909
  • Mar 31, 2012 7:54pm Mar 31, 2012 7:54pm
Quoting Fxbay
You are right men!!!! Oanda is a Legalised theft in forex market. i just closed my account!!!!!!!
Maybe YOU did something wrong?
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  • #2,910
  • Mar 31, 2012 7:58pm Mar 31, 2012 7:58pm
Quoting KillerWhale
Maybe YOU did something wrong?
Anyway I have had NO complaints about Oanda in 7 years of trading.
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  • #2,911
  • Mar 31, 2012 9:09pm Mar 31, 2012 9:09pm
How can a profession trader done wrong with comment on platform ??

Some newbie is talking!! Gosh!!!

Quoting KillerWhale
Maybe YOU did something wrong?
  • #2,912
  • Apr 1, 2012 4:07am Apr 1, 2012 4:07am
Quoting KillerWhale
Why? Spreads are only wider when no sane trader wants to trade.
Says who?

Just because you can't make money trading news does not mean it isn't possible. This is just another example of one piece of misinformation being passed on from trader to trader (who are both clueless to that particular matter) until it becomes a take-for-granted popular belief.

Quoting Fxbay
You are right men!!!! Oanda is a Legalised theft in forex market. i just closed my account!!!!!!!
Care to elaborate? Throwing accusations to a bröker or other posters without stating your reasons is not very "professional" either. Actually it's typical "angry noob" behavior.
  • #2,913
  • Apr 1, 2012 5:05am Apr 1, 2012 5:05am
Quoting KillerWhale
I think Oanda is for me the broker with the least complaints, very reliable

Do they still have disconnections during numbers like NFP ?
  • #2,914
  • Apr 1, 2012 8:40pm Apr 1, 2012 8:40pm
Quoting Cocoflanel
Do they still have disconnections during numbers like NFP ?
No, at least I didnt notice anything like that and I looked at a few NFPs lately. But they do have high spreads for such occasions as you probably know.
  • #2,915
  • Apr 12, 2012 7:34am Apr 12, 2012 7:34am
Just opened an account with Oanda , took 6 hours then I'm in , awesome . Sometimes got spread widen on GJ from 2.2 > 15 pips hmm , anyway others aspects are great , spread widen not a big problem .
  • #2,916
  • Apr 15, 2012 8:13pm Apr 15, 2012 8:13pm
Like many of you I was looking for a trustworthy forex broker. Went through different forums and found oanda to have good reviews overall, although I did come across some comments that oanda is accused of running stops. Not just oanda but other dealing desk brokers as well.
I regarded those who posted negative comments as whiners. I have traded from home for a living for the past 5 years and I know losses are part of the game.
Losing is part of the game but not like this.
The short trade was in AUDCAD and I move my stop loss to breakeven after it went 40 pips in my favour.
I was stopped out at 1.0385 but the highest for the past 2 days is 1.0367 (see chart). 18 pips difference!
I seek their customer support via webchat and was given excuses. I was told the AUDCAD move to 1.0390. A move of 40 pips over the weekend not reflected on the charts?
I'm closing my account with oanda. Also, I won't put my $ with any dealing desk brokers. I haven't tried any ECNS but they seem the only legit choice for serious traders.
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  • #2,917
  • Edited 8:47pm Apr 15, 2012 8:34pm | Edited 8:47pm
Quoting amk
I was stopped out at 1.0385 but the highest for the past 2 days is 1.0367 (see chart). 18 pips difference!
Sounds like you're another Oanda spread-widening victim?

MT4 shows the trade was stopped at 4/15/2012 14:54. What's the time zone of that? If you look here, there was a 30 pip spread widening during the same day: http://fxtrade.oanda.com/why/spreads/recent#AUD-CAD

Quoting amk
I have traded from home for a living for the past 5 years
And you still use retail dealing desks/MM's?

I'd look for an environment that is more targeted to people who make a living from this business, not one that has the masses of retail fish as its targeted market. Most retail brökers aren't (same with spread betting companies), and the few of them I'd use are ECN's.

Just my two cents.
  • #2,918
  • Apr 15, 2012 8:44pm Apr 15, 2012 8:44pm
Quoting Marv
MT4 says shows trade was stopped at 4/15/2012 14:54. What's the time zone?

And you still use retail dealing desks/MM's?

I'd look for an environment that is more targeted to people who make a living from this business, not one that has the masses of retail fish as its target market. Most retail brökers aren't, and the few of them I'd use are ECN's.

Just my two cents.
Hi Marv,
May I konw which broker do you recommend to trade for living ?
~~ Happy Trading ~~
  • #2,919
  • Apr 15, 2012 8:45pm Apr 15, 2012 8:45pm
Quoting amk
Like many of you I was looking for a trustworthy forex broker. Went through different forums and found oanda to have good reviews overall, although I did come across some comments that oanda is accused of running stops. Not just oanda but other dealing desk brokers as well.
I regarded those who posted negative comments as whiners. I have traded from home for a living for the past 5 years and I know losses are part of the game.
[size=3][font=Calibri]Losing is part of the game...
Your trade was a SELL so your price, after entry, was the OFFER price so if your chart is showing 1.0367 as the high then it's very likely your entry price of 1.0385 was indeed hit on the OFFER causing you to be stopped out. Almost all mt4 brokers charts reflect the BID price only.
  • #2,920
  • Edited 9:15pm Apr 15, 2012 9:05pm | Edited 9:15pm
Thanks for your reponses

I have clarified via a couple of forums that my incident is not a case of running stops. Like marv mentioned, I'm a victim of widening spreads.

I need to clarify that I traded Singapore stocks for a living, not forex.

I learned a valuable lesson today. I'll know how to deal with it in the future. Thanks again
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